XML 70 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Operations (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Net sales      
Products $ 4,197.5us-gaap_SalesRevenueGoodsNet $ 4,186.6us-gaap_SalesRevenueGoodsNet $ 3,638.6us-gaap_SalesRevenueGoodsNet
Services 664.9us-gaap_SalesRevenueServicesNet 609.3us-gaap_SalesRevenueServicesNet 455.4us-gaap_SalesRevenueServicesNet
Total net sales 4,862.4us-gaap_SalesRevenueNet 4,795.9us-gaap_SalesRevenueNet 4,094.0us-gaap_SalesRevenueNet
Cost of sales      
Products 3,421.4us-gaap_CostOfGoodsSold 3,360.1us-gaap_CostOfGoodsSold 2,848.3us-gaap_CostOfGoodsSold
Services 470.5us-gaap_CostOfServices 441.8us-gaap_CostOfServices 335.2us-gaap_CostOfServices
Total cost of sales 3,891.9us-gaap_CostOfGoodsAndServicesSold 3,801.9us-gaap_CostOfGoodsAndServicesSold 3,183.5us-gaap_CostOfGoodsAndServicesSold
Operating expenses      
Selling, general and administrative expenses 425.5us-gaap_SellingGeneralAndAdministrativeExpense 416.0us-gaap_SellingGeneralAndAdministrativeExpense 347.1us-gaap_SellingGeneralAndAdministrativeExpense
Depreciation and amortization 336.4quad_OtherDepreciationAndAmortizationExcludingDiscontinuedOperations 340.5quad_OtherDepreciationAndAmortizationExcludingDiscontinuedOperations 338.6quad_OtherDepreciationAndAmortizationExcludingDiscontinuedOperations
Restructuring, impairment and transaction-related charges 67.3us-gaap_RestructuringSettlementAndImpairmentProvisions 95.3us-gaap_RestructuringSettlementAndImpairmentProvisions 118.3us-gaap_RestructuringSettlementAndImpairmentProvisions
Total operating expenses 4,721.1us-gaap_CostsAndExpenses 4,653.7us-gaap_CostsAndExpenses 3,987.5us-gaap_CostsAndExpenses
Operating income from continuing operations 141.3us-gaap_OperatingIncomeLoss 142.2us-gaap_OperatingIncomeLoss 106.5us-gaap_OperatingIncomeLoss
Interest expense 92.9us-gaap_InterestExpense 85.5us-gaap_InterestExpense 84.0us-gaap_InterestExpense
Loss on debt extinguishment 7.2us-gaap_GainsLossesOnExtinguishmentOfDebt 0us-gaap_GainsLossesOnExtinguishmentOfDebt 0us-gaap_GainsLossesOnExtinguishmentOfDebt
Earnings from continuing operations before income taxes and equity in earnings (loss) of unconsolidated entities 41.2us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 56.7us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 22.5us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense (benefit) 20.2us-gaap_IncomeTaxExpenseBenefit 23.3us-gaap_IncomeTaxExpenseBenefit (31.5)us-gaap_IncomeTaxExpenseBenefit
Earnings from continuing operations before equity in earnings (loss) of unconsolidated entities 21.0quad_IncomeLossFromContinuingOperationsBeforeEquityInEarningsOfUnconsolidatedEntities 33.4quad_IncomeLossFromContinuingOperationsBeforeEquityInEarningsOfUnconsolidatedEntities 54.0quad_IncomeLossFromContinuingOperationsBeforeEquityInEarningsOfUnconsolidatedEntities
Equity in earnings (loss) of unconsolidated entities (2.7)us-gaap_IncomeLossFromEquityMethodInvestments (2.5)us-gaap_IncomeLossFromEquityMethodInvestments 2.3us-gaap_IncomeLossFromEquityMethodInvestments
Net earnings from continuing operations 18.3us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 30.9us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 56.3us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Loss from discontinued operations, net of tax     30.8us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
Loss from discontinued operations, net of tax 0us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 0us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax (3.2)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
Gain on disposal of discontinued operations, net of tax 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 34.0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Net earnings 18.3us-gaap_ProfitLoss 30.9us-gaap_ProfitLoss 87.1us-gaap_ProfitLoss
Net loss attributable to noncontrolling interests 0.3us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 1.6us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 0.3us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net earnings attributable to Quad/Graphics common shareholders $ 18.6us-gaap_NetIncomeLoss $ 32.5us-gaap_NetIncomeLoss $ 87.4us-gaap_NetIncomeLoss
Basic:      
Continuing operations (USD per share) $ 0.39us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.67us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 1.14us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Discontinued operations (USD per share) $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.66us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Earnings per share attributable to Quad/Graphics common shareholders $ 0.39us-gaap_EarningsPerShareBasic $ 0.67us-gaap_EarningsPerShareBasic $ 1.80us-gaap_EarningsPerShareBasic
Diluted:      
Continuing operations (USD per share) $ 0.38us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.65us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 1.13us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Discontinued operations (USD per share) $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.65us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Earnings per share attributable to Quad/Graphics common shareholders $ 0.38us-gaap_EarningsPerShareDiluted $ 0.65us-gaap_EarningsPerShareDiluted $ 1.78us-gaap_EarningsPerShareDiluted
Weighted average number of common shares outstanding:      
Basic (in shares) 47.5us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 47.0us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 46.8us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted (in shares) 48.5us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 48.0us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 47.2us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding