x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Ohio | 34-0183970 | |
(State or other jurisdiction of incorporation or organization) | (IRS Employer Identification Number) | |
5995 Mayfair Road, PO Box 3077, North Canton, Ohio | 44720-8077 | |
(Address of principal executive offices) | (Zip Code) | |
Large accelerated filer | x | Accelerated filer | o | Non-accelerated filer (Do not check if a smaller reporting company) | o | Smaller reporting company | o |
March 31, 2016 | December 31, 2015 | |||||||
(Unaudited) | ||||||||
ASSETS | ||||||||
Current assets | ||||||||
Cash and cash equivalents | $ | 304.6 | $ | 313.6 | ||||
Restricted cash | 116.1 | — | ||||||
Short-term investments | 49.7 | 39.9 | ||||||
Trade receivables, less allowances for doubtful accounts of $31.9 and $31.7, respectively | 459.3 | 413.9 | ||||||
Inventories | 412.2 | 369.3 | ||||||
Deferred income taxes | 116.8 | 168.8 | ||||||
Prepaid expenses | 23.8 | 23.6 | ||||||
Prepaid income taxes | 31.3 | 18.0 | ||||||
Current assets held for sale | — | 148.2 | ||||||
Other current assets | 173.8 | 148.3 | ||||||
Total current assets | 1,687.6 | 1,643.6 | ||||||
Securities and other investments | 83.0 | 85.2 | ||||||
Property, plant and equipment, net of accumulated depreciation and amortization of $445.3 and $433.7, respectively | 169.7 | 175.3 | ||||||
Goodwill | 167.0 | 161.5 | ||||||
Deferred income taxes | 59.1 | 65.3 | ||||||
Finance lease receivables | 33.4 | 36.5 | ||||||
Other assets | 78.2 | 75.0 | ||||||
Total assets | $ | 2,278.0 | $ | 2,242.4 | ||||
LIABILITIES AND EQUITY | ||||||||
Current liabilities | ||||||||
Notes payable | $ | 103.7 | $ | 32.0 | ||||
Accounts payable | 248.9 | 281.7 | ||||||
Deferred revenue | 236.4 | 229.2 | ||||||
Payroll and other benefits liabilities | 68.8 | 76.5 | ||||||
Current liabilities held for sale | — | 49.4 | ||||||
Other current liabilities | 332.3 | 287.0 | ||||||
Total current liabilities | 990.1 | 955.8 | ||||||
Long-term debt | 428.9 | 606.2 | ||||||
Pensions and other benefits | 194.9 | 195.6 | ||||||
Post-retirement and other benefits | 19.2 | 18.7 | ||||||
Other long-term liabilities | 25.8 | 30.6 | ||||||
Commitments and contingencies | ||||||||
Equity | ||||||||
Diebold, Incorporated shareholders' equity | ||||||||
Preferred shares, no par value, 1,000,000 authorized shares, none issued | — | — | ||||||
Common shares, $1.25 par value, 125,000,000 authorized shares,79,904,044 and 79,696,694 issued shares, 65,144,571 and 65,001,602 outstanding shares, respectively | 99.9 | 99.6 | ||||||
Additional capital | 436.1 | 430.8 | ||||||
Retained earnings | 909.8 | 760.3 | ||||||
Treasury shares, at cost (14,759,473 and 14,695,092 shares, respectively) | (561.9 | ) | (560.2 | ) | ||||
Accumulated other comprehensive loss | (288.3 | ) | (318.1 | ) | ||||
Total Diebold, Incorporated shareholders' equity | 595.6 | 412.4 | ||||||
Noncontrolling interests | 23.5 | 23.1 | ||||||
Total equity | 619.1 | 435.5 | ||||||
Total liabilities and equity | $ | 2,278.0 | $ | 2,242.4 | ||||
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Net sales | ||||||||
Services | $ | 336.7 | $ | 341.6 | ||||
Products | 172.9 | 233.2 | ||||||
509.6 | 574.8 | |||||||
Cost of sales | ||||||||
Services | 228.5 | 229.9 | ||||||
Products | 142.3 | 185.6 | ||||||
370.8 | 415.5 | |||||||
Gross profit | 138.8 | 159.3 | ||||||
Selling and administrative expense | 125.6 | 120.5 | ||||||
Research, development and engineering expense | 18.5 | 22.3 | ||||||
Impairment of assets | — | 19.4 | ||||||
Loss on sale of assets, net | 0.4 | 0.1 | ||||||
144.5 | 162.3 | |||||||
Operating loss | (5.7 | ) | (3.0 | ) | ||||
Other income (expense) | ||||||||
Investment income | 4.9 | 7.9 | ||||||
Interest expense | (11.5 | ) | (8.0 | ) | ||||
Foreign exchange (loss) gain, net | (2.4 | ) | (9.2 | ) | ||||
Miscellaneous, net | 34.6 | (1.2 | ) | |||||
Income (loss) from continuing operations before taxes | 19.9 | (13.5 | ) | |||||
Income tax (benefit) expense | (0.8 | ) | (3.4 | ) | ||||
Income (loss) from continuing operations, net of tax | 20.7 | (10.1 | ) | |||||
Income from discontinued operations, net of tax | 147.8 | 4.5 | ||||||
Net income (loss) | 168.5 | (5.6 | ) | |||||
Net income (loss) attributable to noncontrolling interests | 0.3 | (2.8 | ) | |||||
Net income (loss) attributable to Diebold, Incorporated | $ | 168.2 | $ | (2.8 | ) | |||
Basic weighted-average shares outstanding | 65.1 | 64.7 | ||||||
Diluted weighted-average shares outstanding | 65.7 | 64.7 | ||||||
Basic earnings (loss) per share | ||||||||
Income (loss) from continuing operations, net of tax | $ | 0.31 | $ | (0.11 | ) | |||
Income from discontinued operations, net of tax | 2.27 | 0.07 | ||||||
Net income (loss) attributable to Diebold, Incorporated | $ | 2.58 | $ | (0.04 | ) | |||
Diluted earnings (loss) per share | ||||||||
Income (loss) from continuing operations, net of tax | $ | 0.31 | $ | (0.11 | ) | |||
Income from discontinued operations, net of tax | 2.25 | 0.07 | ||||||
Net income (loss) attributable to Diebold, Incorporated | $ | 2.56 | $ | (0.04 | ) | |||
Amounts attributable to Diebold, Incorporated | ||||||||
Income (loss) before discontinued operations, net of tax | $ | 20.4 | $ | (7.3 | ) | |||
Income from discontinued operations, net of tax | 147.8 | 4.5 | ||||||
Net income (loss) attributable to Diebold, Incorporated | $ | 168.2 | $ | (2.8 | ) | |||
Common dividends declared and paid per share | $ | 0.2875 | $ | 0.2875 | ||||
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Net income (loss) | $ | 168.5 | $ | (5.6 | ) | |||
Other comprehensive income (loss), net of tax | ||||||||
Translation adjustment | 32.8 | (68.4 | ) | |||||
Foreign currency hedges (net of tax $1.9 and $(2.3), respectively) | (3.6 | ) | 4.3 | |||||
Interest rate hedges | ||||||||
Net gain recognized in other comprehensive income (net of tax $(0.1) for the three months ended March 31, 2015) | — | 0.2 | ||||||
Reclassification adjustment for amounts recognized in net income | (0.1 | ) | (0.1 | ) | ||||
(0.1 | ) | 0.1 | ||||||
Pension and other post-retirement benefits | ||||||||
Net actuarial loss amortization (net of tax $(0.5) and $(0.6), respectively) | 0.9 | 1.0 | ||||||
Net prior service benefit amortization, net of tax | — | 0.1 | ||||||
0.9 | 1.1 | |||||||
Other comprehensive income (loss), net of tax | 30.0 | (62.9 | ) | |||||
Comprehensive income (loss) | 198.5 | (68.5 | ) | |||||
Less: comprehensive income (loss) attributable to noncontrolling interests | 0.4 | (2.6 | ) | |||||
Comprehensive income (loss) attributable to Diebold, Incorporated | $ | 198.1 | $ | (65.9 | ) | |||
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Cash flow from operating activities | ||||||||
Net income (loss) | $ | 168.5 | $ | (5.6 | ) | |||
Income from discontinued operations, net of tax | 147.8 | 4.5 | ||||||
Income (loss) from continuing operations, net of tax | 20.7 | (10.1 | ) | |||||
Adjustments to reconcile net income to cash flow used by operating activities: | ||||||||
Depreciation and amortization | 15.0 | 16.2 | ||||||
Share-based compensation | 5.6 | 4.3 | ||||||
Excess tax benefits from share-based compensation | — | (0.1 | ) | |||||
Devaluation of Venezuela balance sheet | — | 7.5 | ||||||
Gain on sale of assets, net | 0.4 | 0.1 | ||||||
Impairment of assets | — | 19.4 | ||||||
Gain on foreign currency option contracts | (36.5 | ) | — | |||||
Changes in certain assets and liabilities, net of the effects of acquisition | ||||||||
Trade receivables | (36.6 | ) | (76.0 | ) | ||||
Inventories | (31.9 | ) | (38.5 | ) | ||||
Prepaid expenses | 0.1 | (2.1 | ) | |||||
Prepaid income taxes | (13.3 | ) | (7.5 | ) | ||||
Other current assets | (9.7 | ) | (11.0 | ) | ||||
Accounts payable | (37.3 | ) | 7.2 | |||||
Deferred revenue | 3.8 | 41.5 | ||||||
Certain other assets and liabilities | 9.8 | (15.5 | ) | |||||
Net cash used by operating activities - continuing operations | (109.9 | ) | (64.6 | ) | ||||
Net cash (used) provided by operating activities - discontinued operations | (5.3 | ) | 2.4 | |||||
Net cash used by operating activities | (115.2 | ) | (62.2 | ) | ||||
Cash flow from investing activities | ||||||||
Payments for acquisition, net of cash acquired | — | (59.4 | ) | |||||
Proceeds from maturities of investments | 35.1 | 46.3 | ||||||
Payments for purchases of investments | (39.5 | ) | (44.5 | ) | ||||
Proceeds from sale of assets | 0.2 | 0.4 | ||||||
Capital expenditures | (4.7 | ) | (10.5 | ) | ||||
Increase in certain other assets | (4.9 | ) | (2.1 | ) | ||||
Net cash used by investing activities - continuing operations | (13.8 | ) | (69.8 | ) | ||||
Net cash provided (used) by investing activities - discontinued operations | 365.1 | (0.3 | ) | |||||
Net cash provided (used) by investing activities | 351.3 | (70.1 | ) | |||||
Cash flow from financing activities | ||||||||
Dividends paid | (18.8 | ) | (18.9 | ) | ||||
Debt issuance costs | (0.8 | ) | — | |||||
Restricted cash, net | (116.1 | ) | — | |||||
Revolving debt borrowings, net | 73.1 | 75.0 | ||||||
Other debt borrowings | 17.3 | 13.9 | ||||||
Other debt repayments | (198.0 | ) | (16.3 | ) | ||||
Distributions to noncontrolling interest holders | (2.0 | ) | — | |||||
Excess tax benefits from share-based compensation | — | 0.1 | ||||||
Issuance of common shares | — | 1.0 | ||||||
Repurchase of common shares | (1.7 | ) | (2.6 | ) | ||||
Net cash (used) provided by financing activities - continuing operations | (247.0 | ) | 52.2 | |||||
Net cash provided (used) by financing activities - discontinued operations | — | — | ||||||
Net cash (used) provided by financing activities | (247.0 | ) | 52.2 | |||||
Effect of exchange rate changes on cash and cash equivalents | 3.4 | (14.8 | ) | |||||
Decrease in cash and cash equivalents | (7.5 | ) | (94.9 | ) | ||||
Add: Cash overdraft included in assets held for sale at beginning of period | (1.5 | ) | (4.1 | ) | ||||
Less: Cash overdraft included in assets held for sale at end of period | — | (1.9 | ) | |||||
Cash and cash equivalents at the beginning of the period | 313.6 | 326.1 | ||||||
Cash and cash equivalents at the end of the period | $ | 304.6 | $ | 229.0 | ||||
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Numerator | ||||||||
Income (loss) used in basic and diluted earnings (loss) per share | ||||||||
Income (loss) from continuing operations, net of tax | $ | 20.7 | $ | (10.1 | ) | |||
Net income (loss) attributable to noncontrolling interests | 0.3 | (2.8 | ) | |||||
Income (loss) before discontinued operations, net of tax | 20.4 | (7.3 | ) | |||||
Income from discontinued operations, net of tax | 147.8 | 4.5 | ||||||
Net income (loss) attributable to Diebold, Incorporated | $ | 168.2 | $ | (2.8 | ) | |||
Denominator | ||||||||
Weighted-average number of common shares used in basic earnings (loss) per share | 65.1 | 64.7 | ||||||
Effect of dilutive shares (1) | 0.6 | — | ||||||
Weighted-average number of shares used in diluted earnings (loss) per share | 65.7 | 64.7 | ||||||
Basic earnings (loss) per share | ||||||||
Income (loss) before discontinued operations, net of tax | $ | 0.31 | $ | (0.11 | ) | |||
Income from discontinued operations, net of tax | 2.27 | 0.07 | ||||||
Net income (loss) attributable to Diebold, Incorporated | $ | 2.58 | $ | (0.04 | ) | |||
Diluted earnings (loss) per share | ||||||||
Income (loss) before discontinued operations, net of tax | $ | 0.31 | $ | (0.11 | ) | |||
Income from discontinued operations, net of tax | 2.25 | 0.07 | ||||||
Net income (loss) attributable to Diebold, Incorporated | $ | 2.56 | $ | (0.04 | ) | |||
Anti-dilutive shares | ||||||||
Anti-dilutive shares not used in calculating diluted weighted-average shares | 1.9 | 1.5 | ||||||
(1) | Incremental shares of 0.7 shares were excluded from the computation of diluted (loss) earnings per share for the three months ended March 31, 2015, because their effect is anti-dilutive due to the net loss attributable to Diebold, Incorporated. |
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Diebold, Incorporated shareholders' equity | ||||||||
Balance at beginning of period | $ | 412.4 | $ | 531.6 | ||||
Comprehensive income (loss) attributable to Diebold, Incorporated | 198.1 | (65.9 | ) | |||||
Common shares | 0.3 | 0.4 | ||||||
Additional capital | 5.3 | 4.9 | ||||||
Treasury shares | (1.7 | ) | (2.6 | ) | ||||
Dividends paid | (18.8 | ) | (18.9 | ) | ||||
Balance at end of period | $ | 595.6 | $ | 449.5 | ||||
Noncontrolling interests | ||||||||
Balance at beginning of period | $ | 23.1 | $ | 23.3 | ||||
Comprehensive income attributable to noncontrolling interests, net (1) | 0.4 | — | ||||||
Balance at end of period | $ | 23.5 | $ | 23.3 | ||||
(1) | Comprehensive income (loss) attributable to noncontrolling interests of $(2.6) is net of a $2.6 Venezuela noncontrolling interest adjustment for the three months ended March 31, 2015 to reduce the carrying value to the estimated fair market value. |
Translation | Foreign Currency Hedges | Interest Rate Hedges | Pension and Other Post-retirement Benefits | Other | Accumulated Other Comprehensive (Loss) Income | |||||||||||||||||||
Balance at January 1, 2016 | $ | (215.6 | ) | $ | 5.0 | $ | (0.1 | ) | $ | (107.8 | ) | $ | 0.4 | $ | (318.1 | ) | ||||||||
Other comprehensive income (loss) before reclassifications (1) | 32.6 | (3.6 | ) | — | — | — | 29.0 | |||||||||||||||||
Amounts reclassified from AOCI | — | — | (0.1 | ) | 0.9 | — | 0.8 | |||||||||||||||||
Net current-period other comprehensive income (loss) | 32.6 | (3.6 | ) | (0.1 | ) | 0.9 | — | 29.8 | ||||||||||||||||
Balance at March 31, 2016 | $ | (183.0 | ) | $ | 1.4 | $ | (0.2 | ) | $ | (106.9 | ) | $ | 0.4 | $ | (288.3 | ) | ||||||||
(1) | Other comprehensive income (loss) before reclassifications within the translation component excludes $0.2 of translation attributable to noncontrolling interests. |
Translation | Foreign Currency Hedges | Interest Rate Hedges | Pension and Other Post-retirement Benefits | Other | Accumulated Other Comprehensive (Loss) Income | |||||||||||||||||||
Balance at January 1, 2015 | $ | (74.9 | ) | $ | (1.4 | ) | $ | (0.5 | ) | $ | (114.0 | ) | $ | 0.3 | $ | (190.5 | ) | |||||||
Other comprehensive (loss) income before reclassifications (1) | (68.6 | ) | 4.3 | 0.2 | — | — | (64.1 | ) | ||||||||||||||||
Amounts reclassified from AOCI | — | — | (0.1 | ) | 1.1 | — | 1.0 | |||||||||||||||||
Net current-period other comprehensive (loss) income | (68.6 | ) | 4.3 | 0.1 | 1.1 | — | (63.1 | ) | ||||||||||||||||
Balance at March 31, 2015 | $ | (143.5 | ) | $ | 2.9 | $ | (0.4 | ) | $ | (112.9 | ) | $ | 0.3 | $ | (253.6 | ) | ||||||||
Three Months Ended | ||||||||||
2016 | 2015 | |||||||||
Amount Reclassified from AOCI | Amount Reclassified from AOCI | Affected Line Item in the Statement of Operations | ||||||||
Interest rate hedges | $ | (0.1 | ) | $ | (0.1 | ) | Interest expense | |||
Pension and post-retirement benefits: | ||||||||||
Net actuarial loss amortization (net of tax $(0.5) and $(0.6), respectively) | 0.9 | 1.0 | (1) | |||||||
Net prior service benefit amortization, net of tax | — | 0.1 | (1) | |||||||
0.9 | 1.1 | |||||||||
Total reclassifications for the period | $ | 0.8 | $ | 1.0 | ||||||
(1) | Pension and other post-retirement benefits AOCI components are included in the computation of net periodic benefit cost (refer to note 12). |
Number of Shares | Weighted- Average Exercise Price | Weighted- Average Remaining Contractual Term | Aggregate Intrinsic Value (1) | ||||||||||
(per share) | (in years) | ||||||||||||
Outstanding at January 1, 2016 | 1.7 | $ | 34.21 | ||||||||||
Expired or forfeited | (0.2 | ) | $ | 38.23 | |||||||||
Granted | 0.5 | $ | 27.39 | ||||||||||
Outstanding at March 31, 2016 | 2.0 | $ | 32.34 | 8 | $ | 0.8 | |||||||
Options exercisable at March 31, 2016 | 1.1 | $ | 34.32 | 6 | $ | 0.1 | |||||||
Options vested and expected to vest at March 31, 2016 (2) | 2.0 | $ | 32.43 | 7 | $ | 0.8 | |||||||
(1) | The aggregate intrinsic value (the difference between the closing price of the Company’s common shares on the last trading day of the first quarter of 2016 and the exercise price, multiplied by the number of “in-the-money” options) that would have been received by the option holders had all option holders exercised their options on March 31, 2016. The amount of aggregate intrinsic value will change based on the fair market value of the Company’s common shares. |
(2) | The options expected to vest are the result of applying the pre-vesting forfeiture rate assumption to total outstanding non-vested options. |
Number of Shares | Weighted-Average Grant-Date Fair Value | ||||||
(per share) | |||||||
RSUs: | |||||||
Non-vested at January 1, 2016 | 0.9 | $ | 32.53 | ||||
Forfeited | (0.1 | ) | $ | 32.39 | |||
Vested | (0.2 | ) | $ | 30.86 | |||
Granted | 0.5 | $ | 27.13 | ||||
Non-vested at March 31, 2016 | 1.1 | $ | 30.40 | ||||
Performance Shares: | |||||||
Non-vested at January 1, 2016 | 0.8 | $ | 34.06 | ||||
Forfeited | — | $ | 34.09 | ||||
Vested | (0.2 | ) | $ | 29.32 | |||
Granted | 0.6 | $ | 30.49 | ||||
Non-vested at March 31, 2016 | 1.2 | $ | 33.00 | ||||
Cost Basis | Unrealized Gain | Fair Value | ||||||||||
As of March 31, 2016 | ||||||||||||
Short-term investments | ||||||||||||
Certificates of deposit | $ | 49.7 | $ | — | $ | 49.7 | ||||||
Long-term investments | ||||||||||||
Assets held in a rabbi trust | $ | 7.9 | $ | 0.2 | $ | 8.1 | ||||||
As of December 31, 2015 | ||||||||||||
Short-term investments | ||||||||||||
Certificates of deposit | $ | 39.9 | $ | — | $ | 39.9 | ||||||
Long-term investments | ||||||||||||
Assets held in a rabbi trust | $ | 9.3 | $ | — | $ | 9.3 | ||||||
Finance Leases | Notes Receivable | Total | ||||||||||
Allowance for credit losses | ||||||||||||
Balance at January 1, 2016 | $ | 0.5 | $ | 4.1 | $ | 4.6 | ||||||
Provision for credit losses | — | — | — | |||||||||
Balance at March 31, 2016 | $ | 0.5 | $ | 4.1 | $ | 4.6 | ||||||
Balance at January 1, 2015 | $ | 0.4 | $ | 4.1 | $ | 4.5 | ||||||
Provision for credit losses | 0.5 | — | 0.5 | |||||||||
Balance at March 31, 2015 | $ | 0.9 | $ | 4.1 | $ | 5.0 | ||||||
March 31, 2016 | December 31, 2015 | |||||||
30-59 days past due | $ | — | $ | 0.1 | ||||
60-89 days past due | — | — | ||||||
> 89 days past due (1) | 3.1 | 3.0 | ||||||
Total past due | $ | 3.1 | $ | 3.1 | ||||
(1) | Past due notes receivable balances greater than 89 days are fully reserved. |
March 31, 2016 | December 31, 2015 | |||||||
Finished goods | $ | 174.4 | $ | 145.8 | ||||
Service parts | 156.7 | 155.7 | ||||||
Raw materials and work in process | 81.1 | 67.8 | ||||||
Total inventories | $ | 412.2 | $ | 369.3 | ||||
NA | AP | EMEA | LA | Total | |||||||||||||||
Goodwill | $ | 76.4 | $ | 40.0 | $ | 168.7 | $ | 143.7 | $ | 428.8 | |||||||||
Accumulated impairment losses | (13.2 | ) | — | (168.7 | ) | (108.8 | ) | (290.7 | ) | ||||||||||
Balance at January 1, 2015 | $ | 63.2 | $ | 40.0 | $ | — | $ | 34.9 | $ | 138.1 | |||||||||
Goodwill acquired | 39.7 | — | — | — | 39.7 | ||||||||||||||
Currency translation adjustment | (3.4 | ) | (2.4 | ) | — | (10.5 | ) | (16.3 | ) | ||||||||||
Goodwill | $ | 112.7 | $ | 37.6 | $ | 168.7 | $ | 133.2 | $ | 452.2 | |||||||||
Accumulated impairment losses | (13.2 | ) | — | (168.7 | ) | (108.8 | ) | (290.7 | ) | ||||||||||
Balance at December 31, 2015 | $ | 99.5 | $ | 37.6 | $ | — | $ | 24.4 | $ | 161.5 | |||||||||
Goodwill adjustment | 0.2 | — | — | — | 0.2 | ||||||||||||||
Currency translation adjustment | 2.5 | 0.7 | — | 2.1 | 5.3 | ||||||||||||||
Goodwill | 115.4 | 38.3 | 168.7 | 135.3 | 457.7 | ||||||||||||||
Accumulated impairment losses | (13.2 | ) | — | (168.7 | ) | (108.8 | ) | (290.7 | ) | ||||||||||
Balance at March 31, 2016 | $ | 102.2 | $ | 38.3 | $ | — | $ | 26.5 | $ | 167.0 | |||||||||
March 31, 2016 | December 31, 2015 | ||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||
Internally-developed software | $ | 92.4 | $ | (46.6 | ) | $ | 45.8 | $ | 92.4 | $ | (48.5 | ) | $ | 43.9 | |||||||||
Other intangibles | 37.3 | (16.7 | ) | 20.6 | 36.7 | (16.3 | ) | 20.4 | |||||||||||||||
Total | $ | 129.7 | $ | (63.3 | ) | $ | 66.4 | $ | 129.1 | $ | (64.8 | ) | $ | 64.3 | |||||||||
March 31, 2016 | December 31, 2015 | |||||||
Notes payable | ||||||||
Uncommitted lines of credit | $ | 39.3 | $ | 19.2 | ||||
Term loan | 12.9 | 11.5 | ||||||
Senior notes (5.50 percent) | 50.0 | — | ||||||
Other | 1.5 | 1.3 | ||||||
$ | 103.7 | $ | 32.0 | |||||
Long-term debt | ||||||||
Revolving credit facility | $ | 221.1 | $ | 168.0 | ||||
Term loan | 214.2 | 218.5 | ||||||
Senior notes (5.50 percent) | — | 225.0 | ||||||
Other | 1.2 | 1.6 | ||||||
Long-term deferred financing fees | (7.6 | ) | (6.9 | ) | ||||
$ | 428.9 | $ | 606.2 | |||||
Anticipated Financing and Replacement Facilities | Interest Rate Index and Margin | Maturity/Termination Dates | Term (Years) | |||
Revolving Facility | LIBOR + 2.00% | December 2020 | 5 | |||
Term Loan A Facility | LIBOR + 2.00% | December 2020 | 5 | |||
Delayed Draw Term Loan A | LIBOR + 2.00% | December 2020 | 5 | |||
Term Loan B Facility ($1,000.0) | LIBOR(i) + 4.50% | November 2023 | 7.5 | |||
Term Loan B Facility (€350.0) | EURIBOR(ii) + 4.25% | November 2023 | 7.5 | |||
Senior Notes due 2024 | 8.5% | April 2024 | 8 | |||
(i) | LIBOR with a floor of 0.75%. |
(ii) | EURIBOR with a floor of 0.75%. |
Pension Benefits | Other Benefits | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Components of net periodic benefit cost | ||||||||||||||||
Service cost | $ | 0.9 | $ | 0.9 | $ | — | $ | — | ||||||||
Interest cost | 6.2 | 5.9 | 0.1 | 0.1 | ||||||||||||
Expected return on plan assets | (6.7 | ) | (6.7 | ) | — | — | ||||||||||
Recognized net actuarial loss | 1.4 | 1.7 | 0.1 | 0.1 | ||||||||||||
Net periodic pension benefit cost | $ | 1.8 | $ | 1.8 | $ | 0.2 | $ | 0.2 | ||||||||
2016 | 2015 | |||||||
Balance at January 1 | $ | 73.6 | $ | 113.3 | ||||
Current period accruals | 1.7 | 9.9 | ||||||
Current period settlements | (10.7 | ) | (12.7 | ) | ||||
Currency translation adjustment | 4.0 | (13.4 | ) | |||||
Balance at March 31 | $ | 68.6 | $ | 97.1 | ||||
Derivative instrument | Classification on consolidated statements of operations | Three Months Ended | ||||||||
March 31, | ||||||||||
2016 | 2015 | |||||||||
Cash flow hedges | Interest expense | $ | (1.0 | ) | $ | (1.3 | ) | |||
Gain on foreign currency option contracts | Miscellaneous, net | 36.5 | — | |||||||
Foreign exchange forward contracts | Foreign exchange (loss) gain, net | (3.8 | ) | 5.0 | ||||||
Total | $ | 31.7 | $ | 3.7 | ||||||
Notional Amounts | |||||||||||
Instrument | Number of Instruments | Call | Put | ||||||||
Foreign currency option contracts | 2 | € | 1,416.0 | $ | 1,547.1 | ||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Cost of sales – services | $ | 0.3 | $ | — | ||||
Selling and administrative expense | 0.1 | 2.5 | ||||||
Research, development and engineering expense | — | 0.6 | ||||||
Total | $ | 0.4 | $ | 3.1 | ||||
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Severance | ||||||||
NA (1) | $ | — | $ | 1.5 | ||||
AP | — | — | ||||||
EMEA | 0.1 | 0.9 | ||||||
LA | 0.3 | 0.7 | ||||||
Total severance | $ | 0.4 | $ | 3.1 | ||||
Severance | Other | Total | |||||||||
Cumulative total restructuring costs for the multi-year transformation plan | |||||||||||
NA (1) | $ | 67.9 | $ | 2.0 | $ | 69.9 | |||||
AP | 3.8 | 0.6 | 4.4 | ||||||||
EMEA | 5.7 | 0.9 | 6.6 | ||||||||
LA | 20.3 | — | 20.3 | ||||||||
Total | $ | 97.7 | $ | 3.5 | $ | 101.2 | |||||
2016 | 2015 | |||||||
Balance at January 1 | $ | 4.7 | $ | 7.6 | ||||
Liabilities incurred | 0.4 | 3.1 | ||||||
Liabilities paid/settled | (1.3 | ) | (5.2 | ) | ||||
Balance at March 31 | $ | 3.8 | $ | 5.5 | ||||
March 31, 2016 | December 31, 2015 | |||||||||||||||||||||||
Fair Value Measurements Using | Fair Value Measurements Using | |||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Fair Value | Level 1 | Level 2 | |||||||||||||||||||
Assets | ||||||||||||||||||||||||
Short-term investments | ||||||||||||||||||||||||
Certificates of deposit | $ | 49.7 | $ | 49.7 | $ | — | $ | 39.9 | $ | 39.9 | $ | — | ||||||||||||
Restricted cash | 116.1 | 116.1 | — | — | — | — | ||||||||||||||||||
Assets held in rabbi trusts | 8.1 | 8.1 | — | 9.3 | 9.3 | — | ||||||||||||||||||
Foreign exchange forward contracts | 4.9 | — | 4.9 | 3.5 | — | 3.5 | ||||||||||||||||||
Foreign currency option contracts | 43.5 | — | 43.5 | 7.0 | — | 7.0 | ||||||||||||||||||
Total | $ | 222.3 | $ | 173.9 | $ | 48.4 | $ | 59.7 | $ | 49.2 | $ | 10.5 | ||||||||||||
Liabilities | ||||||||||||||||||||||||
Deferred compensation | $ | 8.1 | $ | 8.1 | $ | — | $ | 9.3 | $ | 9.3 | $ | — | ||||||||||||
Foreign exchange forward contracts | 7.5 | — | 7.5 | 1.5 | — | 1.5 | ||||||||||||||||||
Total | $ | 15.6 | $ | 8.1 | $ | 7.5 | $ | 10.8 | $ | 9.3 | $ | 1.5 | ||||||||||||
March 31, 2016 | December 31, 2015 | |||||||||||||||
Fair Value | Carrying Value | Fair Value | Carrying Value | |||||||||||||
Notes payable | $ | 103.7 | $ | 103.7 | $ | 32.0 | $ | 32.0 | ||||||||
Long-term debt | 428.9 | 428.9 | 613.0 | 606.2 | ||||||||||||
Total debt instruments | $ | 532.6 | $ | 532.6 | $ | 645.0 | $ | 638.2 | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Revenue summary by segment | ||||||||
NA | $ | 251.7 | $ | 259.2 | ||||
AP | 80.5 | 110.5 | ||||||
EMEA | 85.6 | 86.8 | ||||||
LA | 91.8 | 118.3 | ||||||
Total revenue | $ | 509.6 | $ | 574.8 | ||||
Intersegment revenue | ||||||||
NA | $ | 17.9 | $ | 21.1 | ||||
AP | 19.9 | 19.4 | ||||||
EMEA | 27.7 | 11.1 | ||||||
LA | 0.1 | 0.1 | ||||||
Total intersegment revenue | $ | 65.6 | $ | 51.7 | ||||
Segment operating profit | ||||||||
NA | $ | 53.4 | $ | 61.1 | ||||
AP | 8.7 | 18.2 | ||||||
EMEA | 10.4 | 12.4 | ||||||
LA | 7.0 | 3.1 | ||||||
Total segment operating profit | $ | 79.5 | $ | 94.8 | ||||
Corporate charges not allocated to segments (1) | (70.7 | ) | (70.7 | ) | ||||
Asset impairment charges | — | (19.4 | ) | |||||
Restructuring charges | (0.4 | ) | (3.1 | ) | ||||
Net non-routine expense | (14.1 | ) | (4.6 | ) | ||||
(85.2 | ) | (97.8 | ) | |||||
Operating loss | $ | (5.7 | ) | $ | (3.0 | ) | ||
Other income (expense) | 25.6 | (10.5 | ) | |||||
Income (loss) from continuing operations before taxes | $ | 19.9 | $ | (13.5 | ) | |||
(1) | Corporate charges not allocated to segments include headquarter based costs associated with manufacturing administration, procurement, human resources, compensation and benefits, finance and accounting, global development/engineering, global strategy/mergers and acquisitions, global information technology, tax, treasury and legal. |
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Segment depreciation and amortization expense | ||||||||
NA | $ | 2.9 | $ | 1.8 | ||||
AP | 1.7 | 1.6 | ||||||
EMEA | 0.8 | 0.8 | ||||||
LA | 1.6 | 2.9 | ||||||
Total segment depreciation and amortization expense | 7.0 | 7.1 | ||||||
Corporate depreciation and amortization expense | 8.0 | 9.1 | ||||||
Total depreciation and amortization expense | $ | 15.0 | $ | 16.2 | ||||
March 31, 2016 | December 31, 2015 | |||||||
Segment property, plant and equipment, at cost | ||||||||
NA | $ | 115.3 | $ | 110.7 | ||||
AP | 54.2 | 53.3 | ||||||
EMEA | 36.8 | 35.2 | ||||||
LA | 55.0 | 51.9 | ||||||
Total segment property, plant and equipment, at cost | $ | 261.3 | $ | 251.1 | ||||
Corporate property plant and equipment, at cost, not allocated to segments | 353.7 | 357.9 | ||||||
Total property, plant and equipment, at cost | $ | 615.0 | $ | 609.0 | ||||
Three Months Ended | ||||||||
March 31, | ||||||||
2016 | 2015 | |||||||
Financial self-service | ||||||||
Services | $ | 289.3 | $ | 291.2 | ||||
Products | 157.2 | 203.8 | ||||||
Total financial self-service | 446.5 | 495.0 | ||||||
Security | ||||||||
Services | 47.4 | 50.4 | ||||||
Products | 13.7 | 19.1 | ||||||
Total security | 61.1 | 69.5 | ||||||
Total financial self-service and security | 507.6 | 564.5 | ||||||
Brazil other | 2.0 | 10.3 | ||||||
$ | 509.6 | $ | 574.8 | |||||
Three Months Ended | |||||||
March 31, | |||||||
2016 | 2015 | ||||||
Net sales | |||||||
Services | $ | 16.3 | $ | 52.4 | |||
Products | 8.5 | 28.3 | |||||
24.8 | 80.7 | ||||||
Cost of sales | |||||||
Services | 15.1 | 43.0 | |||||
Products | 6.9 | 21.7 | |||||
22.0 | 64.7 | ||||||
Gross profit | 2.8 | 16.0 | |||||
Selling and administrative expense | 4.8 | 9.4 | |||||
(Loss) income from discontinued operations before taxes | (2.0 | ) | 6.6 | ||||
Income tax (benefit) expense | (0.7 | ) | 2.1 | ||||
(1.3 | ) | 4.5 | |||||
Gain on sale of discontinued operations before taxes | 243.3 | — | |||||
Income tax (benefit) expense | 94.2 | — | |||||
Gain on sale of discontinued operations, net of tax | 149.1 | — | |||||
Income from discontinued operations, net of tax | $ | 147.8 | $ | 4.5 | |||
December 31, 2015 | |||
ASSETS | |||
Cash and cash equivalents | $ | (1.5 | ) |
Trade receivables, less allowances for doubtful accounts of $4.0 | 75.6 | ||
Inventories | 29.1 | ||
Prepaid expenses | 0.9 | ||
Other current assets | 5.0 | ||
Total current assets | 109.1 | ||
Property, plant and equipment, net | 5.2 | ||
Goodwill | 33.9 | ||
Assets held for sale | $ | 148.2 | |
LIABILITIES | |||
Accounts payable | $ | 24.8 | |
Deferred revenue | 13.3 | ||
Payroll and other benefits liabilities | 6.6 | ||
Other current liabilities | 4.7 | ||
Total current liabilities | $ | 49.4 | |
• | Cost - Streamline the cost structure and improve near-term delivery and execution. |
• | Cash - Generate increased free cash flow in order to fund the investments necessary to drive profitable growth, while preserving the ability to return value to shareholders in the form of dividends and, as appropriate, share repurchases. |
• | Talent - Attract and retain the talent necessary to drive innovation and the focused execution of the transformation strategy. |
• | Growth - Return the Company to a sustainable, profitable growth trajectory. |
• | demand for services and software, including managed services and professional services; |
• | timing of self-service equipment upgrades and/or replacement cycles; |
• | demand for products and solutions related to bank branch automation opportunities; |
• | demand for security products and services for the financial and commercial sectors; and |
• | high levels of deployment growth for new self-service products in emerging markets. |
Three Months Ended | ||||||||||||||
March 31, | ||||||||||||||
2016 | 2015 | |||||||||||||
Dollars | % of Net sales | Dollars | % of Net sales | |||||||||||
Net sales | $ | 509.6 | 100.0 | $ | 574.8 | 100.0 | ||||||||
Gross profit | $ | 138.8 | 27.2 | $ | 159.3 | 27.7 | ||||||||
Operating expenses | $ | 144.5 | 28.4 | $ | 162.3 | 28.2 | ||||||||
Operating loss | $ | (5.7 | ) | (1.1 | ) | $ | (3.0 | ) | (0.5 | ) | ||||
Net income (loss) | $ | 168.5 | 33.1 | $ | (5.6 | ) | (1.0 | ) | ||||||
Net income (loss) attributable to noncontrolling interests | $ | 0.3 | 0.1 | $ | (2.8 | ) | (0.5 | ) | ||||||
Net income (loss) attributable to Diebold, Incorporated | $ | 168.2 | 33.0 | $ | (2.8 | ) | (0.5 | ) | ||||||
Three Months Ended | |||||||||||
March 31, | |||||||||||
2016 | 2015 | % Change | |||||||||
Financial self-service | $ | 446.5 | $ | 495.0 | (9.8 | ) | |||||
Security | 61.1 | 69.5 | (12.1 | ) | |||||||
Brazil other | 2.0 | 10.3 | (80.6 | ) | |||||||
Net sales | $ | 509.6 | $ | 574.8 | (11.3 | ) | |||||
• | NA FSS sales in the three months ended March 31, 2016 decreased $3.1 or 1.5 percent compared to the prior year period, of which $2.4 was related to unfavorable currency. The decline principally resulted from lower product revenue in the U.S. regional bank space related to the wind down of the Agilis 3/Windows 7 upgrade project and lower volume in Canada as a result of a large deposit automation upgrade project that ended in the third quarter of 2015. These declines were |
• | AP FSS sales in the three months ended March 31, 2016 decreased $29.1 or 27.3 percent, compared to the prior year period. Unfavorable currency impact of $6.5 negatively influenced the three month period. In addition, the decrease was largely attributable to a decline in product revenue stemming from lower volume primarily in China, where the government continues to encourage banks to increase their use of domestic ATM suppliers. India also contributed to the decline due to lower product, installation and managed services revenue compared to the prior period. |
• | EMEA FSS sales in the three months ended March 31, 2016 decreased $1.2 or 1.4 percent compared to the prior year period. Unfavorable currency impact of $5.5 adversely impacted the three months ended March 31, 2016, principally driven by the weakening of the South Africa rand and the euro. On a constant currency basis, sales increased primarily due to higher product sales in Switzerland partially offset by overall lower product volume in the UK. |
• | LA FSS sales in the three months ended March 31, 2016 decreased $15.1 or 15.8 percent compared to the prior year period. The three months ended March 31, 2016 was negatively impacted by unfavorable currency of $13.5 related to the Brazil real. On a fixed rate basis, volume declines in Brazil and Colombia were partially offset by higher volume in Mexico and regional distributor channels. Venezuela also contributed to the decrease in revenue as the Company sold its equity interest in the joint venture in March of 2015. |
Three Months Ended | |||||||||||
March 31, | |||||||||||
2016 | 2015 | % Change | |||||||||
Gross profit - services | $ | 108.2 | $ | 111.7 | (3.1 | ) | |||||
Gross profit - products | 30.6 | 47.6 | (35.7 | ) | |||||||
Total gross profit | $ | 138.8 | $ | 159.3 | (12.9 | ) | |||||
Gross margin – services | 32.1 | % | 32.7 | % | |||||||
Gross margin – products | 17.7 | % | 20.4 | % | |||||||
Total gross margin | 27.2 | % | 27.7 | % | |||||||
Three Months Ended | |||||||||||
March 31, | |||||||||||
2016 | 2015 | % Change | |||||||||
Selling and administrative expense | $ | 125.6 | $ | 120.5 | 4.2 | ||||||
Research, development and engineering expense | 18.5 | 22.3 | (17.0 | ) | |||||||
Impairment of assets | — | 19.4 | (100.0 | ) | |||||||
Loss on sale of assets, net | 0.4 | 0.1 | N/M | ||||||||
Total operating expenses | $ | 144.5 | $ | 162.3 | (11.0 | ) | |||||
Three Months Ended | |||||||||||
March 31, | |||||||||||
2016 | 2015 | % Change | |||||||||
Operating loss | $ | (5.7 | ) | $ | (3.0 | ) | (90.0 | ) | |||
Operating loss margin | (1.1 | )% | (0.5 | )% | |||||||
Three Months Ended | |||||||||||
March 31, | |||||||||||
2016 | 2015 | % Change | |||||||||
Investment income | $ | 4.9 | $ | 7.9 | (38.0 | ) | |||||
Interest expense | (11.5 | ) | (8.0 | ) | (43.8 | ) | |||||
Foreign exchange (loss) gain, net | (2.4 | ) | (9.2 | ) | 73.9 | ||||||
Miscellaneous, net | 34.6 | (1.2 | ) | N/M | |||||||
Other income (expense), net | $ | 25.6 | $ | (10.5 | ) | N/M | |||||
Three Months Ended | ||||||||||
March 31, | ||||||||||
2016 | 2015 | % Change | ||||||||
Income (loss) from continuing operations, net of tax | $ | 20.7 | $ | (10.1 | ) | N/M | ||||
Percent of net sales | 4.1 | % | (1.8 | )% | ||||||
Effective tax rate | (4.0 | )% | 25.2 | % | ||||||
Three Months Ended | |||||||||||
March 31, | |||||||||||
North America | 2016 | 2015 | % Change | ||||||||
Revenue | $ | 251.7 | $ | 259.2 | (2.9 | ) | |||||
Segment operating profit | $ | 53.4 | $ | 61.1 | (12.6 | ) | |||||
Segment operating profit margin | 21.2 | % | 23.6 | % | |||||||
Three Months Ended | |||||||||||
March 31, | |||||||||||
Asia Pacific | 2016 | 2015 | % Change | ||||||||
Revenue | $ | 80.5 | $ | 110.5 | (27.1 | ) | |||||
Segment operating profit | $ | 8.7 | $ | 18.2 | (52.2 | ) | |||||
Segment operating profit margin | 10.8 | % | 16.5 | % | |||||||
Three Months Ended | |||||||||||
March 31, | |||||||||||
Europe, Middle East and Africa | 2016 | 2015 | % Change | ||||||||
Revenue | $ | 85.6 | $ | 86.8 | (1.4 | ) | |||||
Segment operating profit | $ | 10.4 | $ | 12.4 | (16.1 | ) | |||||
Segment operating profit margin | 12.1 | % | 14.3 | % | |||||||
Three Months Ended | |||||||||||
March 31, | |||||||||||
Latin America | 2016 | 2015 | % Change | ||||||||
Revenue | $ | 91.8 | $ | 118.3 | (22.4 | ) | |||||
Segment operating profit | $ | 7.0 | $ | 3.1 | N/M | ||||||
Segment operating profit margin | 7.6 | % | 2.6 | % | |||||||
March 31, 2016 | December 31, 2015 | |||||||
Cash and cash equivalents | $ | 304.6 | $ | 313.6 | ||||
Additional cash availability from | ||||||||
Short-term uncommitted lines of credit | 68.8 | 69.0 | ||||||
Revolving credit facility | 298.9 | 352.0 | ||||||
Restricted cash | 116.1 | — | ||||||
Short-term investments | 49.7 | 39.9 | ||||||
Total cash and cash availability | $ | 838.1 | $ | 774.5 | ||||
Net cash flow (used) provided by: | 2016 | 2015 | ||||||
Operating activities - continuing operations | $ | (109.9 | ) | $ | (64.6 | ) | ||
Investing activities - continuing operations | (13.8 | ) | (69.8 | ) | ||||
Financing activities - continuing operations | (247.0 | ) | 52.2 | |||||
Discontinued operations, net | 359.8 | 2.1 | ||||||
Effect of exchange rate changes on cash and cash equivalents | 3.4 | (14.8 | ) | |||||
Net decrease in cash and cash equivalents | $ | (7.5 | ) | $ | (94.9 | ) | ||
• | The aggregate of trade accounts receivable, inventories and accounts payable used $105.8 in operating cash flows during the three months ended March 31, 2016, compared to $107.3 used in the same period of 2015. In general, the amount of |
• | The aggregate of the other certain assets and liabilities used $9.3 of operating cash during the three months ended March 31, 2016, compared to $5.4 provided in the same period of 2015. The decrease is primarily due to a reduction in deferred revenue due to lower collection in advance payments offset by a reduction in advance payments for purchases and collection of notes receivable in China. |
• | Net income for the three months ended March 31, 2016 increased $174.1, which is primarily attributable to the gain from the NA electronic security business divestiture. Net income (loss) from continuing operations, net of tax, increased $30.8 primarily due to the gain on foreign currency option contracts in the first quarter of 2016. |
Anticipated Financing and Replacement Facilities | Interest Rate Index and Margin | Maturity/Termination Dates | Term (Years) | |||
Revolving Facility | LIBOR + 2.00% | December 2020 | 5 | |||
Term Loan A Facility | LIBOR + 2.00% | December 2020 | 5 | |||
Delayed Draw Term Loan A | LIBOR + 2.00% | December 2020 | 5 | |||
Term Loan B Facility ($1,000.0) | LIBOR(i) + 4.50% | November 2023 | 7.5 | |||
Term Loan B Facility (€350.0) | EURIBOR(ii) + 4.25% | November 2023 | 7.5 | |||
Senior Notes due 2024 | 8.5% | April 2024 | 8 | |||
(i) | LIBOR with a floor of 0.75%. |
(ii) | EURIBOR with a floor of 0.75%. |
• | the Company's ability to successfully consummate the Acquisition, including satisfying closing conditions; |
• | the ultimate outcome and results of integrating the operations of the Company and Wincor Nixdorf, the ultimate outcome of the Company’s pricing and operating strategy applied to Wincor Nixdorf and the ultimate ability to realize synergies; |
• | the Company's ability to successfully consummate its transaction with the Inspur Group; |
• | the success of the Company's strategic business alliance with Securitas AB; |
• | the Company's ability to reduce stranded costs related to its NA electronic security business from its ongoing operations; |
• | competitive pressures, including pricing pressures and technological developments; |
• | changes in the Company's relationships with customers, suppliers, distributors and/or partners in its business ventures; |
• | changes in political, economic or other factors such as currency exchange rates, inflation rates, recessionary or expansive trends, taxes and regulations and laws affecting the worldwide business in each of the Company's operations; |
• | global economic conditions, including any additional deterioration and disruptions in the financial markets, including bankruptcies, restructurings or consolidations of financial institutions or otherwise, which could reduce our customer base and/or adversely affect our customers’ ability to make capital expenditures, as well as adversely impact the availability and cost of credit; |
• | acceptance of the Company's product and technology introductions in the marketplace; |
• | the Company’s ability to maintain effective internal controls over financial reporting; |
• | changes in the Company’s intention to further repatriate cash and cash equivalents and short-term investments residing in international tax jurisdictions could negatively impact foreign and domestic taxes; |
• | unanticipated litigation, claims or assessments, as well as the outcome/impact of any current/pending litigation, claims or assessments; |
• | variations in consumer demand for FSS technologies, products and services; |
• | potential disruptions, breaches or other violations of the Company's information technology systems; |
• | the investment performance of the Company’s pension plan assets, which could require the Company to increase its pension contributions, and significant changes in healthcare costs, including those that may result from government action; |
• | the amount and timing of repurchases of the Company’s common shares, if any; and |
• | the Company's ability to achieve benefits from its cost-reduction initiatives and other strategic changes as well as its business process outsourcing initiative. |
Period | Total Number of Shares Purchased (1) | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans (2) | Maximum Number of Shares that May Yet Be Purchased Under the Plans (2) | |||||||||
January | 6,919 | $ | 25.79 | — | 2,426,177 | ||||||||
February | 54,305 | $ | 26.02 | — | 2,426,177 | ||||||||
March | 3,157 | $ | 28.08 | — | 2,426,177 | ||||||||
Total | 64,381 | $ | 26.10 | — | |||||||||
(1) | All shares were surrendered or deemed surrendered to the Company in connection with the Company’s share-based compensation plans. |
(2) | The total number of shares repurchased as part of the publicly announced share repurchase plan since its inception was 13,450,772 as of March 31, 2016. The plan was approved by the Board of Directors in 1997. The Company may purchase shares from time to time in open market purchases or privately negotiated transactions. The Company may make all or part of the purchases pursuant to accelerated share repurchases or Rule 10b5-1 plans. The plan has no expiration date. The following table provides a summary of Board of Directors approvals to repurchase the Company’s outstanding common shares: |
Total Number of Shares Approved for Repurchase | ||
1997 | 2,000,000 | |
2004 | 2,000,000 | |
2005 | 6,000,000 | |
2007 | 2,000,000 | |
2011 | 1,876,949 | |
2012 | 2,000,000 | |
15,876,949 | ||
2.1 | Asset Purchase Agreement by and among Diebold, Incorporated, The Diebold Company of Canada, LTD., Securitas Electronic Security, Inc. and 9481176 Canada Inc. - incorporated by reference to Exhibit 2.1 to Registrant’s Form 8-K filed on February 4, 2016 (Commission File No. 1-4879) | |
3.1(i) | Amended and Restated Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.1(i) to Registrant’s Annual Report on Form 10-K for the year ended December 31, 1994 (Commission File No. 1-4879) | |
3.1(ii) | Amended and Restated Code of Regulations – incorporated by reference to Exhibit 3.1(ii) to Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2007 (Commission File No. 1-4879) | |
3.2 | Certificate of Amendment by Shareholders to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.2 to Registrant’s Form 10-Q for the quarter ended March 31, 1996 (Commission File No. 1-4879) | |
3.3 | Certificate of Amendment to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.3 to Registrant’s Form 10-K for the year ended December 31, 1998 (Commission File No. 1-4879) | |
10.1 | Form of Performance Share Agreement - incorporated by reference to Exhibit 10.27 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
10.2 | Form of Nonqualified Stock Option Agreement - incorporated by reference to Exhibit 10.28 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
10.3 | Form of Restricted Stock Unit Agreement - Cliff Vesting - incorporated by reference to Exhibit 10.29 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
10.4 | Form of Restricted Stock Unit Agreement - Ratable Vesting - incorporated by reference to Exhibit 10.30 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
10.5 | Form of Restricted Share Agreement - incorporated by reference to Exhibit 10.31 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
31.1 | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
31.2 | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
32.1 | Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. | |
32.2 | Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. | |
101.INS | XBRL Instance Document | |
101.SCH | XBRL Taxonomy Extension Schema Document | |
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | |
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | |
DIEBOLD, INCORPORATED | |||
Date: April 28, 2016 | By: | /s/ Andreas W. Mattes | |
Andreas W. Mattes | |||
President and Chief Executive Officer | |||
(Principal Executive Officer) | |||
Date: April 28, 2016 | By: | /s/ Christopher A. Chapman | |
Christopher A. Chapman | |||
Senior Vice President and Chief Financial Officer | |||
(Principal Financial Officer) | |||
EXHIBIT NO. | DOCUMENT DESCRIPTION | |
2.1 | Asset Purchase Agreement by and among Diebold, Incorporated, The Diebold Company of Canada, LTD., Securitas Electronic Security, Inc. and 9481176 Canada Inc. - incorporated by reference to Exhibit 2.1 to Registrant’s Form 8-K filed on February 4, 2016 (Commission File No. 1-4879) | |
3.1(i) | Amended and Restated Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.1(i) to Registrant’s Annual Report on Form 10-K for the year ended December 31, 1994 (Commission File No. 1-4879) | |
3.1(ii) | Amended and Restated Code of Regulations – incorporated by reference to Exhibit 3.1(ii) to Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2007 (Commission File No. 1-4879) | |
3.2 | Certificate of Amendment by Shareholders to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.2 to Registrant’s Form 10-Q for the quarter ended March 31, 1996 (Commission File No. 1-4879) | |
3.3 | Certificate of Amendment to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.3 to Registrant’s Form 10-K for the year ended December 31, 1998 (Commission File No. 1-4879) | |
10.1 | Form of Performance Share Agreement - incorporated by reference to Exhibit 10.27 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
10.2 | Form of Nonqualified Stock Option Agreement - incorporated by reference to Exhibit 10.28 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
10.3 | Form of Restricted Stock Unit Agreement - Cliff Vesting - incorporated by reference to Exhibit 10.29 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
10.4 | Form of Restricted Stock Unit Agreement - Ratable Vesting - incorporated by reference to Exhibit 10.30 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
10.5 | Form of Restricted Share Agreement - incorporated by reference to Exhibit 10.31 to Registrant’s Form 10-K for the year ended December 31, 2015 (Commission File No. 1-4879) | |
31.1 | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
31.2 | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
32.1 | Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. | |
32.2 | Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. | |
101.INS | XBRL Instance Document | |
101.SCH | XBRL Taxonomy Extension Schema Document | |
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | |
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | |
1) | I have reviewed this quarterly report on Form 10-Q of Diebold, Incorporated; |
2) | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3) | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4) | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5) | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a) | all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b) | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: April 28, 2016 | /s/ Andreas W. Mattes | ||
Andreas W. Mattes | |||
President and Chief Executive Officer (Principal Executive Officer) | |||
1) | I have reviewed this quarterly report on Form 10-Q of Diebold, Incorporated; |
2) | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3) | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4) | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5) | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a) | all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b) | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: April 28, 2016 | /s/ Christopher A. Chapman | ||
Christopher A. Chapman | |||
Senior Vice President and Chief Financial Officer (Principal Financial Officer) | |||
1 | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
2 | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of the dates and for the periods expressed in the Report. |
April 28, 2016 | /s/ Andreas W. Mattes | ||
Andreas W. Mattes | |||
President and Chief Executive Officer (Principal Executive Officer) | |||
1 | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
2 | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of the dates and for the periods expressed in the Report. |
April 28, 2016 | /s/ Christopher A. Chapman | ||
Christopher A. Chapman | |||
Senior Vice President and Chief Financial Officer (Principal Financial Officer) | |||
Document and Entity Information - shares |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Apr. 25, 2016 |
|
| Entity Information [Line Items] | ||
| Entity Registrant Name | DIEBOLD INC | |
| Entity Central Index Key | 0000028823 | |
| Document Type | 10-Q | |
| Document Period End Date | Mar. 31, 2016 | |
| Amendment Flag | false | |
| Document Fiscal Year Focus | 2016 | |
| Document Fiscal Period Focus | Q1 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 65,146,560 |
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions |
Mar. 31, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Current assets | ||
| Allowances for doubtful accounts | $ 31.9 | $ 31.7 |
| Accumulated depreciation and amortization | $ 445.3 | $ 433.7 |
| Diebold, Incorporated shareholders' equity | ||
| Preferred shares, par value | $ 0 | $ 0 |
| Preferred shares, shares authorized | 1,000,000 | 1,000,000 |
| Preferred shares, shares issued | 0 | 0 |
| Common shares, par value | $ 1.25 | $ 1.25 |
| Common shares, shares authorized | 125,000,000 | 125,000,000 |
| Common shares, shares issued | 79,904,044 | 79,696,694 |
| Common shares, shares outstanding | 65,144,571 | 65,001,602 |
| Treasury shares, at cost, shares | 14,759,473 | 14,695,092 |
Condensed Consolidated Statements of Comprehensive Income (Loss) Parentheticals - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|
| Net Investment Hedging [Member] | ||
| Foreign currency hedges, amount recognized in other comprehensive income, tax | $ 1.9 | $ (2.3) |
| Interest rate hedges | ||
| Interest rate hedges, net gain recognized in other comprehensive income, tax | 0.0 | (0.1) |
| Interest rate hedges, reclassification adjustment for amounts recognized in net income, tax | 0.0 | 0.0 |
| Pension and other post-retirement benefits | ||
| Net actuarial loss amortization, tax | (0.5) | (0.6) |
| Net prior service benefit amortization, amount recognized in other comprehensive income, tax | 0.0 | 0.0 |
| Unrealized loss on securities, net [Member] | ||
| Net loss recognized in other comprehensive income, tax | 0.0 | 0.0 |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 0.0 | $ 0.0 |
Consolidated Financial Statements |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Accounting Policies [Abstract] | |
| CONSOLIDATED FINANCIAL STATEMENTS | The accompanying unaudited condensed consolidated financial statements of Diebold, Incorporated and its subsidiaries (collectively, the Company) have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States (U.S. GAAP); however, such information reflects all adjustments (consisting solely of normal recurring adjustments) that are, in the opinion of management, necessary for a fair statement of the results for the interim periods. The condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. In addition, some of the Company’s statements in this Quarterly Report on Form 10-Q may involve risks and uncertainties that could significantly impact expected future results. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of results to be expected for the full year. The Company has reclassified the presentation of certain prior-year information to conform to the current presentation. Recently Adopted Accounting Guidance In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Additionally, in August 2015, the FASB issued ASU 2015-15, Interest-Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (ASU 2015-15). The standards became effective for the Company on January 1, 2016. The adoption of ASU 2015-03 and ASU 2015-15 resulted in $7.6 of debt issuance costs included in long-term debt as of March 31, 2016 and a reclassification of $6.9 from other assets to long-term debt as of December 31, 2015. In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share or Its Equivalent (ASU 2015-07). The amendments in this update remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The amendments also remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The standard became effective for the Company on January 1, 2016. The adoption of ASU 2015-07 did not have a material impact on the financial statements of the Company. In July 2015, the FASB issued ASU 2015-12, Plan Accounting: Defined Benefit Plan (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient (ASU 2015-12), which is a three-part update with the objective of simplifying benefit plan reporting to make the information presented more useful to the reader. Part I designates contract value as the only required measure for fully benefit-responsive investment contracts (FBRIC). A FBRIC is a guaranteed investment contract between the plan and an issuer in which the issuer agrees to pay a predetermined interest rate and principal for a set amount deposited with the issuer. Part II simplifies the investment disclosure requirements for employee benefits plans. Part III provides an alternative measurement date for fiscal periods that do not coincide with a month-end date. This guidance is effective for fiscal years beginning after December 15, 2015. The amendments in Parts I and II of this standard are effective retrospectively. The standard became effective for the Company on January 1, 2016. The adoption of ASU 2015-12 did not have a material impact on the financial statements of the Company. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments (ASU 2015-16). The amendments in this update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this update require that the acquirer record, in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date and presented separately on the face of the income statement or disclosed in the notes by line item. The standard became effective for the Company on January 1, 2016. The adoption of ASU 2015-16 did not have a material impact on the financial statements of the Company. Recently Issued Accounting Guidance In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The standard is effective for the Company on January 1, 2018. Early application is permitted on the original adoption date of January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (ASU 2015-17). This amendment requires the presentation of deferred tax assets and liabilities to be categorized as noncurrent on the balance sheet, instead of being classified as current or noncurrent. ASU 2015-17 is effective for the Company on January 1, 2017, with early adoption permitted. The adoption of ASU 2015-17 is not expected to have a material impact on the financial statements of the Company. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). This amendment requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. This amendment simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. It eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. This amendment requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. Additionally, the update requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments and requires an entity to separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. ASU 2016-01 is effective for the Company on January 1, 2018, including interim periods, with early adoption permitted on a limited basis. The adoption of ASU 2016-01 is not expected to have a material impact on the financial statements of the Company. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (ASU 2016-02). The FASB issued the update to require the recognition of lease assets and liabilities on the balance sheet of lessees. ASU 2016-02 will be effective for the Company on January 1, 2019, including interim periods. ASU 2016-02 requires a modified retrospective transition method with the option to elect a package of practical expedients. Early adoption is permitted. The Company is evaluating the effect that ASU 2016-02 will have on its financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (ASU 2016-05). The FASB issued the update to clarify the effect on an existing hedging relationship, if any, of a change in the counterparty to a derivative instrument that has been designated as a hedging instrument. The ASU clarifies the steps required to determine bifurcation of an embedded derivative. ASU 2016-05 will be effective for the Company on January 1, 2017, including interim periods. Early adoption is permitted. The adoption of ASU 2016-05 is not expected to have a material impact on the financial statements of the Company. In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (ASU 2016-06). The FASB issued the update to clarify the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The standard will be effective for the Company on January 1, 2017, including interim periods. ASU 2016-06 requires a modified retrospective basis to existing debt instruments as of the beginning of the fiscal year for which the amendments are effective. Early adoption is permitted. The adoption of ASU 2016-06 is not expected to have a material impact on the financial statements of the Company. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08). The FASB issued the amendments to clarify the implementation guidance on principal versus agent considerations. The effective date and transition requirements for the amendments in this update are the same as the effective date and transition requirements of ASU 2014-09. The Company is evaluating the effect that ASU 2016-08 will have on its financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). The FASB issued the amendments to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas for simplification apply only to nonpublic entities. ASU 2016-09 is effective for the Company for annual periods beginning after December 15, 2016, with early adoption permitted. The adoption of ASU 2016-09 is not expected to have a material impact on the financial statements of the Company. |
Earning Per Share |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EARNINGS PER SHARE | Earnings Per Share Basic earnings per share is based on the weighted-average number of common shares outstanding. Diluted earnings per share includes the dilutive effect of potential common shares outstanding. Under the two-class method of computing earnings per share, non-vested share-based payment awards that contain rights to receive non-forfeitable dividends are considered participating securities. The Company’s participating securities include restricted stock units (RSUs), deferred shares, and shares that were vested, but deferred by the employee. The Company calculated basic and diluted earnings per share under both the treasury stock method and the two-class method. For the three months ended March 31, 2016 and 2015, there was no impact in the per share amounts calculated under the two methods. Accordingly, the treasury stock method is disclosed below. The following represents amounts used in computing earnings per share and the effect on the weighted-average number of shares of dilutive potential common shares:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EQUITY | Equity The following table presents changes in shareholders' equity attributable to Diebold, Incorporated and the noncontrolling interests:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Loss (Notes) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCUMULATED OTHER COMPREHENSIVE LOSS | Accumulated Other Comprehensive Loss The following table summarizes the changes in the Company’s accumulated other comprehensive (loss) income (AOCI), net of tax, by component for the three months ended March 31, 2016:
The following table summarizes the changes in the Company’s AOCI, net of tax, by component for the three months ended March 31, 2015:
(1) Other comprehensive (loss) income before reclassifications within the translation component excludes $2.9 of translation attributable to noncontrolling interests. The following table summarizes the details about amounts reclassified from AOCI:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SHARE-BASED COMPENSATION | Share-Based Compensation The Company’s share-based compensation payments to employees are recognized based on their grant-date fair values during the period in which the employee is required to provide services in exchange for the award. Share-based compensation is primarily recognized as a component of selling and administrative expense. Total share-based compensation expense was $5.6 and $4.3 for the three months ended March 31, 2016 and 2015, respectively. Options outstanding and exercisable as of March 31, 2016 under the Company’s 1991 Equity and Performance Incentive Plan (as Amended and Restated as of February 12, 2014) (the 1991 Plan) and changes during the three months ended March 31, 2016 were as follows:
The following table summarizes information on non-vested RSUs and performance shares relating to employees and non-employee directors for the three months ended March 31, 2016:
Performance shares are granted to employees and vest based on the achievement of certain performance objectives, as determined by the Board of Directors each year. Each performance share earned entitles the holder to one common share of the Company. The Company's performance shares include performance objectives that are assessed after a three-year period as well as performance objectives that are assessed annually over a three-year period. No shares are vested unless certain performance threshold objectives are met. As of March 31, 2016, there were 0.1 non-employee director deferred shares vested and outstanding. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | Income Taxes The effective tax rate on the income from continuing operations for the three months ended March 31, 2016 was (4.0) percent compared to 25.2 percent on the loss for the three months ended March 31, 2015. The significant decrease in the effective tax rate is primarily attributable to the nontaxable $36.5 mark-to-market gain on foreign currency option contracts related to the potential Wincor Nixdorf Aktiengesellschaft (Wincor Nixdorf) acquisition (the Acquisition) and the decrease in the deferred tax liability associated with the Company's undistributed foreign subsidiary earnings. This decrease was offset by discrete tax benefits that were recorded in the three months ended March 31, 2015, which benefits were primarily related to the Venezuela divestiture and the release of a valuation allowance. |
Investments |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INVESTMENTS | Investments The Company’s investments, primarily in Brazil, consist of certificates of deposit that are classified as available-for-sale and stated at fair value based upon quoted market prices. Unrealized gains and losses are recorded in AOCI. Realized gains and losses are recognized in investment income and are determined using the specific identification method. There were no realized gains from the sale of securities and proceeds from the sale of available-for-sale securities for the three months ended March 31, 2016 and March 31, 2015. The Company’s investments, excluding cash surrender value of insurance contracts of $74.9 and $75.9 as of March 31, 2016 and December 31, 2015, respectively, consisted of the following:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ALLOWANCE FOR CREDIT LOSSES | Allowance for Credit Losses The following table summarizes the Company’s allowance for credit losses for the three months ended March 31, 2016 and 2015:
There were no significant changes in provision for credit losses, recoveries and write-offs during the three months ended March 31, 2016 and 2015. As of March 31, 2016, finance leases and notes receivable individually evaluated for impairment were $73.8 and $5.7, respectively. As of March 31, 2015, finance leases and notes receivable individually evaluated for impairment were $126.4 and $8.5, respectively. As of March 31, 2016 and December 31, 2015, the Company’s finance lease receivables in Latin America (LA) were $56.0 and $58.8, respectively. The decrease is related primarily to the strengthening of the U.S. dollar compared to the Brazil real and recurring customer payments for financing arrangements in LA. The Company records interest income and any fees or costs related to financing receivables using the effective interest method over the term of the lease or loan. The Company reviews the aging of its financing receivables to determine past due and delinquent accounts. Credit quality is reviewed at inception and is re-evaluated as needed based on customer-specific circumstances. Receivable balances 60 days to 89 days past due are reviewed and may be placed on nonaccrual status based on customer-specific circumstances. Receivable balances are placed on nonaccrual status upon reaching greater than 89 days past due. Upon receipt of payment on nonaccrual financing receivables, interest income is recognized and accrual of interest is resumed once the account has been made current or the specific circumstances have been resolved. As of March 31, 2016 and December 31, 2015, the recorded investment in past due financing receivables on nonaccrual status was $0.6 and $0.7, respectively, and there were no recorded investments in finance receivables past due 90 days or more and still accruing interest. The recorded investment in impaired notes receivable was $4.1 as of March 31, 2016 and December 31, 2015 and was fully reserved. The following table summarizes the Company’s aging of past-due notes receivable balances:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INVENTORIES | Inventories Major classes of inventories are summarized as follows:
Certain inventory items of $19.7 were reclassified as of December 31, 2015 between service parts and raw materials and work in process to conform with the current presentation. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Assets |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GOODWILL AND OTHER ASSETS | Goodwill and Other Assets The Company’s four reportable operating segments are North America (NA), Asia Pacific (AP), Europe, Middle East, and Africa (EMEA) and Latin America (LA). The changes in carrying amounts of goodwill within the Company's segments are summarized as follows:
In March 2015, the Company acquired Phoenix Interactive Design, Inc. (Phoenix), a leader in developing innovative multi-vendor software solutions for automated teller machines (ATMs) and a host of other financial self-service (FSS) applications. During the first quarter of 2016, the Company adjusted the preliminary goodwill by $0.2 primarily to reflect adjustments to the finalization of deferred income taxes. There have been no impairment indicators identified during the three months ended March 31, 2016. The following summarizes information on intangible assets by major category:
Amortization expense on capitalized software of $3.2 and $3.5 was included in product cost of sales for the three months ended March 31, 2016 and 2015, respectively. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt and Restricted Cash |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DEBT | Debt and Restricted Cash Debt Outstanding debt balances were as follows:
As of March 31, 2016, the Company had various international short-term uncommitted lines of credit with borrowing limits of $109.0. The weighted-average interest rate on outstanding borrowings on the short-term uncommitted lines of credit as of March 31, 2016 and December 31, 2015 was 3.78 percent and 5.66 percent, respectively. Short-term uncommitted lines mature in less than one year. The amount available under the short-term uncommitted lines at March 31, 2016 was $68.8. The Company entered into a revolving and term loan credit agreement (the Credit Agreement), dated as of November 23, 2015, among the Company and certain of the Company's subsidiaries, as borrowers, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders named therein. The Credit Agreement included, among other things, mechanics for the Company’s existing revolving and term loan A facilities to be refinanced under the Credit Agreement. On December 23, 2015, the Company entered into a Replacement Facilities Effective Date Amendment among the Company, certain of the Company’s subsidiaries, the lenders identified therein and JPMorgan Chase Bank, N.A., as Administrative Agent, pursuant to which the Company is refinancing its existing $520.0 revolving and $230.0 term loan A senior unsecured credit facilities (which have been terminated and repaid in full) with, respectively, a new unsecured revolving facility (the Revolving Facility) in an amount of up to $520.0 and a new (non-delayed draw) unsecured term loan A facility (the Term A Facility) on substantially the same terms as the Delayed Draw Term Facility (as defined in the Credit Agreement) in the amount of up to $230.0. The Delayed Draw Term Facility of $250.0 may be drawn up to one year after the closing date of the Acquisition. The Revolving Facility and Term A Facility will be subject to the same maximum consolidated net leverage ratio and minimum consolidated interest coverage ratio as the Delayed Draw Term Facility. On December 23, 2020, the Term A Facility will mature and the Revolving Facility will automatically terminate. The weighted-average interest rate on outstanding revolving credit facility borrowings as of March 31, 2016 and December 31, 2015 was 2.30 percent and 2.33 percent, respectively, which is variable based on the London Interbank Offered Rate (LIBOR). The amount available under the revolving credit facility as of March 31, 2016 was $298.9. On April 19, 2016, the Company issued $400.0 aggregate principal amount of 8.50 percent senior notes due 2024 (the Notes) in an offering exempt from the registration requirements of the Securities Act of 1933 in connection with the Acquisition. The Notes are and will be guaranteed by certain of the Company’s existing and future domestic subsidiaries. The Company incurred $0.8 of fees in the three months ended March 31, 2016 related to the offering of the Notes, which are amortized as a component of interest expense over the term of the Notes. If the Acquisition has not closed by November 21, 2016, the Company will be required to redeem the Notes in whole at a redemption price equal to 100 percent of the aggregate principal amount of the Notes, plus accrued and unpaid interest on the Notes to, but excluding, the redemption date. In addition, in April 2016, allocation and pricing of the Term Loan B facility provided under the Credit Agreement (which Term Loan B facility is intended to provide part of the financing for the Acquisition) was completed. The Company expects as a result that the Term Loan B facility will, at funding thereof, consist of a $1,000.0 U.S. dollar-denominated tranche that will bear interest at LIBOR plus an applicable margin of 4.50 percent (or, at the Company’s option, prime plus an applicable margin of 3.50 percent), and a €350.0 euro-denominated tranche that will bear interest at the Euro Interbank Offered Rate (EURIBOR) plus an applicable margin of 4.25 percent, and to enter into an amendment to the Credit Agreement in respect of the foregoing within 31 days of the pricing of the Term Loan B facility. Each tranche is expected to be funded during the second quarter of 2016 at 99 percent of par. Below is a summary of anticipated financing and replacement facilities information, upon closing of the Acquisition and first compliance certificate:
In March 2006, the Company issued senior notes in an aggregate principal amount of $300.0 with a weighted-average fixed interest rate of 5.50 percent. The Company entered into a derivative transaction to hedge interest rate risk on $200.0 of the senior notes, which was treated as a cash flow hedge. This reduced the effective interest rate from 5.50 percent to 5.36 percent. The Company funded the repayment of $75.0 aggregate principal amount of the senior notes at maturity in March 2013 using borrowings under its revolving credit facility and the repayment of $175.0 aggregate principal amount of the Company's senior notes maturing in March 2016 through the use of proceeds from the divestiture of the Company's NA electronic security business. As of March 31, 2016, the remaining $50.0 aggregate principal amount of the senior notes due 2018 were reclassified to notes payable from long-term debt as the Company sent a prepayment notice informing the holders of the senior notes of the Company's intent to prepay the senior notes in full on May 2, 2016. The notice included an estimated make-whole premium of $3.9 to be paid in addition to the principal and interest of the senior notes and is included in interest expense for the three months ended March 31, 2016. The Company’s financing agreements contain various restrictive financial covenants, including net debt to capitalization, net debt to earnings before interest, taxes, depreciation and amortization (EBITDA) and net interest coverage ratios. As of March 31, 2016, the Company was in compliance with the financial and other covenants in its debt agreements. Restricted Cash As of March 31, 2016, the Company had $116.1 in restricted cash to be used for paying off existing debt and related interest, as well as any deal costs pursuant to the terms of the Credit Agreement. The carrying value of restricted cash approximates its fair value and is included in cash flows from financing activities. Restricted cash consists of the domestic net proceeds from the NA electronic security divestiture offset by the $175.0 payment of the senior notes during the first quarter of 2016. Restricted cash is expected to be fully utilized by December 31, 2016. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Benefit Plans |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BENEFIT PLANS | Benefit Plans The Company has qualified pension plans covering certain U.S. employees that have been closed to new participants since 2003 and frozen in July 2013. Plans that cover salaried employees provide pension benefits based on the employee’s compensation during the ten years before retirement. The Company’s funding policy for salaried plans is to contribute annually based on actuarial projections and applicable regulations. Plans covering hourly employees generally provide benefits of stated amounts for each year of service. The Company’s funding policy for hourly plans is to make at least the minimum annual contributions required by applicable regulations. Employees of the Company’s operations in countries outside of the United States participate to varying degrees in local pension plans, which in the aggregate, are not significant. The Company has non-qualified pension plans to provide supplemental retirement benefits to certain officers, which was also frozen in July 2013. Benefits are payable at retirement based upon a percentage of the participant’s compensation, as defined. In addition to providing pension benefits, the Company provides post-retirement healthcare and life insurance benefits (referred to as other benefits) for certain retired employees. Currently, there are no plan assets and the Company funds the benefits as the claims are paid. Eligible employees may be entitled to these benefits based upon years of service with the Company, age at retirement and collective bargaining agreements. Currently, the Company has made no commitments to increase these benefits for existing retirees. The following table sets forth the net periodic benefit cost for the Company’s defined benefit pension plans and other benefits for the three months ended March 31:
Contributions There have been no changes to the expected 2016 plan year contribution amounts previously disclosed. For the three months ended March 31, 2016 and 2015, contributions of $1.1 and $11.1, respectively, were made to the qualified and non-qualified pension plans. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantees and Product Warranties |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Guarantees and Product Warranties Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GUARANTEES AND PRODUCT WARRANTIES | Guarantees and Product Warranties The Company provides its global operations guarantees and standby letters of credit through various financial institutions for suppliers, customers, regulatory agencies and insurance providers. If the Company is not able to make payment or fulfill contractual obligations, the suppliers, customers, regulatory agencies and insurance providers may draw on the pertinent bank. At March 31, 2016, the maximum future payment obligations related to these various guarantees totaled $92.6, of which $30.0 represented standby letters of credit to insurance providers, and no associated liability was recorded. At December 31, 2015, the maximum future payment obligations relative to these various guarantees totaled $89.9, of which $30.0 represented standby letters of credit to insurance providers, and no associated liability was recorded. The Company provides its customers a manufacturer’s warranty and records, at the time of the sale, a corresponding estimated liability for potential warranty costs. Estimated future obligations due to warranty claims are based upon historical factors such as labor rates, average repair time, travel time, number of service calls per machine and cost of replacement parts. As of March 31, 2016 and 2015, the Company’s warranty liability balances were $68.6 and $97.1, respectively. The decrease in the warranty liability was largely attributable to settlements and currency translation adjustment in Brazil other in our LA segment. Changes in the Company’s warranty liability balance are illustrated in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | Commitments and Contingencies Contractual Obligations At March 31, 2016, the Company had purchase commitments due within one year totaling $7.5 for materials through contract manufacturing agreements at negotiated prices. Indirect Tax Contingencies The Company accrues non-income-tax liabilities for indirect tax matters when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. In the event any losses are sustained in excess of accruals, they are charged against income. In evaluating indirect tax matters, management takes into consideration factors such as historical experience with matters of similar nature, specific facts and circumstances, and the likelihood of prevailing. Management evaluates and updates accruals as matters progress over time. It is reasonably possible that some of the matters for which accruals have not been established could be decided unfavorably to the Company and could require recognizing future expenditures. Also, statutes of limitations could expire without the Company paying the taxes for matters for which accruals have been established, which could result in the recognition of future gains upon reversal of these accruals at that time. At March 31, 2016, the Company was a party to several routine indirect tax claims from various taxing authorities globally that were incurred in the normal course of business, which neither individually nor in the aggregate are considered material by management in relation to the Company’s financial position or results of operations. In management’s opinion, the consolidated financial statements would not be materially affected by the outcome of these indirect tax claims and/or proceedings or asserted claims. In addition to these routine indirect tax matters, the Company was a party to the proceedings described below: In August 2012, one of the Company's Brazil subsidiaries was notified of a tax assessment of approximately R$270.0, including penalties and interest, regarding certain Brazil federal indirect taxes (Industrialized Products Tax, Import Tax, Programa de Integração Social and Contribution to Social Security Financing) for 2008 and 2009. The assessment alleges improper importation of certain components into Brazil's free trade zone that would nullify certain indirect tax incentives. On September 10, 2012, the Company filed its administrative defenses with the tax authorities. In response to an order by the administrative court, the tax inspector provided further analysis with respect to the initial assessment in December 2013 that indicates a potential exposure that is significantly lower than the initial tax assessment received in August 2012. This revised analysis has been accepted by the initial administrative court; however, this matter remains subject to ongoing administrative proceedings and appeals. Accordingly, the Company cannot provide any assurance that its exposure pursuant to the initial assessment will be lowered significantly or at all. In addition, this matter could negatively impact Brazil federal indirect taxes in other years that remain open under statute. It is reasonably possible that the Company could be required to pay taxes, penalties and interest related to this matter, which could be material to the Company's consolidated financial statements. The Company continues to defend itself in this matter. The Company has challenged customs rulings in Thailand seeking to retroactively collect customs duties on previous imports of ATMs. Management believes that the customs authority’s attempt to retroactively assess customs duties is in contravention of World Trade Organization agreements and, accordingly, is challenging the rulings. In the third quarter of 2015, the Company received a prospective ruling from the United States Customs Border Protection which is consistent with the Company's interpretation of the treaty in question. The Company has submitted that ruling for consideration in its ongoing dispute with Thailand. The matters are currently in the appeals process and management continues to believe that the Company has a valid legal position in these appeals. Accordingly, the Company has not accrued any amount for this contingency; however, the Company cannot provide any assurance that it will not ultimately be subject to retroactive assessments. At March 31, 2016 and December 31, 2015, the Company had an accrual related to the Brazil indirect tax matter disclosed above of $8.3 and $7.5, respectively. The movement between periods relates to the currency fluctuation in the Brazil real. A loss contingency is reasonably possible if it has a more than remote but less than probable chance of occurring. Although management believes the Company has valid defenses with respect to its indirect tax positions, it is reasonably possible that a loss could occur in excess of the estimated accrual. The Company estimated the aggregate risk at March 31, 2016 to be up to approximately $196.7 for its material indirect tax matters, of which $160.2 and $24.0, respectively, relates to the Brazil indirect tax matter and Thailand customs matter disclosed above. The aggregate risk related to indirect taxes is adjusted as the applicable statutes of limitations expire. Legal Contingencies At March 31, 2016, the Company was a party to several lawsuits that were incurred in the normal course of business, which neither individually nor in the aggregate are considered material by management in relation to the Company’s financial position or results of operations. In management’s opinion, the Company's condensed consolidated financial statements would not be materially affected by the outcome of these legal proceedings, commitments or asserted claims. |
Derivative Instruments and Hedging Activities |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | Derivative Instruments and Hedging Activities The Company uses derivatives to mitigate the economic consequences associated with fluctuations in currencies and interest rates. The following table summarizes the gain (loss) recognized on derivative instruments for the three months ended March 31:
Foreign Exchange Net Investment Hedges The Company has international subsidiaries with net balance sheet positions that generate cumulative translation adjustments within AOCI. The Company uses derivatives to manage potential changes in value of its net investments in LA. The Company uses the forward-to-forward method for its quarterly retrospective and prospective assessments of hedge effectiveness. No ineffectiveness results if the notional amount of the derivative matches the portion of the net investment designated as being hedged because the Company uses derivative instruments with underlying exchange rates consistent with its functional currency and the functional currency of the hedged net investment. Changes in value that are deemed effective are accumulated in AOCI where they will remain until they are reclassified to income together with the gain or loss on the entire investment upon substantial liquidation of the subsidiary. The fair value of the Company’s net investment hedge contracts were $(4.5) and $1.0 as of March 31, 2016 and December 31, 2015, respectively. The net (loss) gain recognized in AOCI on net investment hedge derivative instruments was $(5.5) and $6.6 in the three months ended March 31, 2016 and 2015, respectively. Non-Designated Hedges A substantial portion of the Company’s operations and revenues are international. As a result, changes in foreign exchange rates can create substantial foreign exchange gains and losses from the revaluation of non-functional currency monetary assets and liabilities. The Company’s policy allows the use of foreign exchange forward contracts with maturities of up to 24 months to mitigate the impact of currency fluctuations on those foreign currency asset and liability balances. The Company elected not to apply hedge accounting to its foreign exchange forward contracts. Thus, spot-based gains/losses offset revaluation gains/losses within foreign exchange (loss) gain, net and forward-based gains/losses represent interest expense. The fair value of the Company’s non-designated foreign exchange forward contracts was $1.9 and $0.9 as of March 31, 2016 and December 31, 2015, respectively. Foreign Currency Option Contracts On November 23, 2015, the Company entered into foreign currency option contracts to purchase €1,416.0 for $1,547.1 to hedge against the effect of exchange rate fluctuations on the euro-denominated cash consideration related to the Acquisition and estimated euro denominated deal related costs and any outstanding Wincor Nixdorf borrowings. The cash component of the purchase price consideration approximates €1,162.2. The weighted average strike price is $1.09 per euro. These foreign currency option contracts are non-designated and are included in other current assets or other current liabilities based on the net asset or net liability position, respectively, in the condensed consolidated balance sheets. The arrangement will net settle with an additional maximum payout of $60.0 that relates to a delayed premium due at maturity of the contracts in November 2016. During the three months ended March 31, 2016, the Company recorded a $36.5 mark-to-market gain on foreign currency option contracts reflected in miscellaneous, net. The fair value of the Company's foreign currency option contracts were $43.5 and $7.0 as of March 31, 2016 and December 31, 2015, respectively, and are included in other current assets. As of April 25, 2016, the fair value of the foreign currency option contracts was $27.6.
Interest Rate Cash Flow Hedges The Company has variable rate debt that is subject to fluctuations in interest related cash flows due to changes in market interest rates. As of March 31, 2016, the Company had one pay-fixed receive-variable interest rate swap, with a total notional amount of $25.0, to hedge against changes in the LIBOR benchmark interest rate on a portion of the Company’s LIBOR-based borrowings. Changes in value that are deemed effective are accumulated in AOCI and reclassified to interest expense when the hedged interest is accrued. To the extent that it becomes probable that the Company’s variable rate borrowings will not occur, the gains or losses on the related cash flow hedges will be reclassified from AOCI to interest expense. The fair value of the Company’s interest rate contracts was minimal as of March 31, 2016 and December 31, 2015. In December 2005 and January 2006, the Company executed cash flow hedges by entering into receive-variable and pay-fixed interest rate swaps, with a total notional amount of $200.0, related to the senior notes issuance in March 2006. Amounts previously recorded in AOCI related to the pre-issuance cash flow hedges were reclassified on a straight-line basis through February 2016. The gain recognized on designated cash flow hedge derivative instruments was minimal for the three months ended March 31, 2016 and $0.3 for the three months ended March 31, 2015. Gains and losses related to interest rate contracts that are reclassified from AOCI are recorded in interest expense on the condensed consolidated statements of operations. The Company does not anticipate reclassifying any amount from AOCI to interest expense within the next 12 months. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Other Charges |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RESTRUCTURING AND OTHER CHARGES | Restructuring and Other Charges Restructuring Charges The following table summarizes the impact of the Company’s restructuring charges on the condensed consolidated statements of operations:
The following table summarizes the Company’s restructuring charges by reportable operating segment:
(1) NA includes corporate and global restructuring costs. During the first quarter of 2013, the Company announced a multi-year transformation plan. Certain aspects of this plan were previously disclosed under the Company's global realignment plan and global shared services plan. This multi-year transformation focuses on globalizing the Company's service organization and creating a unified center-led global organization for research and development, as well as transforming the Company's general and administrative cost structure. Restructuring charges of $0.4 and $3.1 for the three months ended March 31, 2016 and 2015, respectively, related to the Company's multi-year transformation plan. Restructuring charges for the three months ended March 31, 2015 consisted primarily of severance costs related to the Company's business process outsourcing initiative. As of March 31, 2016, the restructuring accrual balance consists primarily of severance restructuring activities in connection with the multi-year transformation plan. As of March 31, 2016, the Company anticipates additional restructuring costs in NA, AP and LA of approximately $7.0 to $10.0 to be incurred through the end of 2016. As management finalizes certain aspects of the transformation plan, the anticipated future costs related to this plan are subject to change. The following table summarizes the Company's cumulative total restructuring costs for the multi-year transformation plan as of March 31, 2016:
(1) NA includes corporate and global restructuring costs. The following table summarizes the Company’s restructuring accrual balances and related activity for the three months ended March 31:
Impairment and Other Charges During the first quarter of 2015, the Company recorded an impairment of certain capitalized software of $9.1 related to redundant legacy Diebold software as a result of the acquisition of Phoenix. In addition, the Company agreed to sell its equity interest in its Venezuela joint venture to its joint venture partner and recorded a $10.3 impairment of assets in the first quarter of 2015 (refer to note 19). Other charges consist of items that the Company has determined are non-routine in nature and are not expected to recur in future operations. Net non-routine expense of $14.1 and $4.6 impacted the three months ended March 31, 2016 and 2015, respectively. Net non-routine expense was partially due to legal, indemnification and professional fees related to corporate monitor efforts. Additionally, net non-routine expense for the three months ended March 31, 2016 included potential acquisition and divestiture related costs of $11.0 within selling and administrative expense. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Assets and Liabilities |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE OF ASSETS AND LIABILITIES | Fair Value of Assets and Liabilities Assets and Liabilities Recorded at Fair Value Assets and liabilities subject to fair value measurement are as follows:
The Company uses the end of period when determining the timing of transfers between levels. During the three months ended March 31, 2016, there were no transfers between levels. The fair value and carrying value of the Company’s debt instruments are summarized as follows:
The increase in notes payable as of March 31, 2016 compared to December 31, 2015 is primarily related to the reclassification of $50.0 of senior notes from long-term debt as the Company sent a prepayment notice informing the holders of the senior notes of the Company's intent to prepay the senior notes in full (refer to note 11). The carrying value of the long-term debt as of March 31, 2016 approximates fair value as the underlying debt instruments have market-based interest rates. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting Disclosure [Text Block] | Segment Information The Company considers its operating structure and the information subject to regular review by its President and Chief Executive Officer, who is the Chief Operating Decision Maker (CODM), to identify reportable operating segments. The CODM makes decisions, allocates resources and assesses performance by the following regions, which are also the Company’s four reportable operating segments: NA, AP, EMEA and LA. The four geographic segments sell and service FSS and security systems around the globe, as well as elections, lottery and information technology solutions in Brazil other, through wholly-owned subsidiaries, majority-owned joint ventures and independent distributors in most major countries. Certain information not routinely used in the management of the segments, information not allocated back to the segments or information that is impractical to report is not shown. Segment operating profit is defined as revenues less expenses identifiable to those segments. Segment operating income reconciles to consolidated income before income taxes by deducting corporate costs and other income or expense items that are not attributed to the segments (refer to note 16). Total assets are not allocated to segments and are not included in the assessment of segment performance and therefore are excluded from the segment information disclosed as follows. The following tables represent information regarding the Company’s segment information and provides a reconciliation between segment operating profit and the consolidated income (loss) from continuing operations before income taxes:
The following table presents information regarding the Company’s revenue by service and product solution:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisitions and Divestitures (Notes) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions and Divestitures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination Disclosure [Text Block] | Acquisitions and Divestitures Acquisitions In the fourth quarter of 2015, the Company announced its intention to acquire all 29.8 Wincor Nixdorf ordinary shares outstanding (33.1 total Wincor Nixdorf ordinary shares issued inclusive of 3.3 treasury shares) through a voluntary tender offer for €38.98 in cash and 0.434 common shares of the Company per Wincor Nixdorf ordinary share outstanding. The Company considered a number of factors in connection with its evaluation of the proposed transaction, including significant strategic opportunities and potential synergies, as generally supporting its decision to enter into the business combination agreement. As of March 29, 2016, the Company confirmed that it received 68.9 percent of total Wincor Nixdorf ordinary shares issued inclusive of treasury shares (76.5 percent of all Wincor Nixdorf ordinary shares outstanding) for purposes of satisfying the minimum tender condition of the offer. On April 15, 2016, the Company announced the final results of the offer that 22.9 Wincor Nixdorf ordinary shares had been tendered by the end of the statutory additional acceptance period on April 12, 2016, which (together with 0.2 voting proxies held by the Company) represented 69.9 percent of total Wincor Nixdorf ordinary shares issued inclusive of treasury shares (77.5 percent of all Wincor Nixdorf ordinary shares outstanding). At the end of the offer acceptance period on March 22, 2016, all closing conditions to the offer had been satisfied, except that the offer remains subject to regulatory approval. The offer is targeted to close in the summer of 2016. The Company intends to finance the cash portion of the offer consideration as well as any Wincor Nixdorf debt outstanding with funds available under the Company’s Credit Agreement and proceeds from the issuance and sale of the Notes on April 19, 2016, which Notes are required to be redeemed in the event that the offer has not closed by November 21, 2016 (refer to note 11). The Company will incur interest expense along with continuing to incur certain costs and fees, some of which will be payable even in the event the Acquisition is terminated or expires. Wincor Nixdorf has a fiscal year end of September 30 and is reported using International Financial Reporting Standards (IFRS) as issued by the European Union (EU). For the fiscal year ended September 30, 2015, Wincor Nixdorf recorded net sales of €2,427.0. In the first quarter of 2015, the Company acquired 100 percent of the equity interests of Phoenix for a total purchase price of $72.9, including $12.6 of deferred cash payment payable over the next three years. Acquiring Phoenix, a leading developer of innovative multi-vendor software solutions for ATMs and a host of other FSS applications, was a foundational move to accelerate the Company’s growth in the fast-growing managed services and branch automation spaces. The results of operations for Phoenix are primarily included in the NA reportable operating segment within the Company's condensed consolidated financial statements from the date of the acquisition. Divestitures On October 25, 2015, the Company entered into a definitive asset purchase agreement with a wholly owned subsidiary of Securitas AB (Securitas Electronic Security) to divest its NA electronic security business located in the United States and Canada for an aggregate purchase price of $350.0 in cash, 10.0 percent of which was contingent based on the successful transition of certain customer relationships. The Company received the full payment of $35.0 in the first quarter of 2016 as all contingencies for this payment were achieved. For the NA electronic security business to continue its growth, it would have required resources and investment that the Company was not committed to make given its focus on the self-service market. The closing of the NA electronic security divestiture occurred on February 1, 2016 and the Company recorded a gain on sale, net of tax, of $149.1 in the first quarter of 2016. The closing purchase price is subject to a customary working capital adjustment, which is expected to be finalized in the second quarter of 2016. The purchase agreement provides for customary representations, warranties, covenants and agreements. The Company also agreed to provide certain transition services to Securitas Electronic Security after the closing, including providing Securitas Electronic Security a $6.0 credit for such services, of which $5.0 relates to a quarterly payment to Securitas Electronic Security and $1.0 is a credit against payments due from Securitas Electronic Security. During the three months ended March 31, 2016, $1.3 was paid as part of the quarterly payment and $0.3 was used against amounts owed by Securitas Electronic Security. The operating results for the NA electronic security business were previously included in the Company's NA segment and have been reclassified to discontinued operations for all of the periods presented. The assets and liabilities of this business were classified as held for sale in the Company's condensed consolidated balance sheet as of December 31, 2015. Cash flows provided or used by the NA electronic security business are presented as cash flows from discontinued operations for all of the periods presented. The operating results, assets and liabilities and cash flows from discontinued operations are no longer included in the financial statements of the Company from February 1, 2016. The following summarizes select financial information included in income from discontinued operations, net of tax:
The following summarizes the assets and liabilities classified as held for sale in the condensed consolidated balance sheet:
During 2015, all assets and liabilities classified as held for sale were included in total current assets based on the cash conversion of these assets and liabilities during the first quarter of 2016. The cash and cash equivalents of the NA electronic security business represents outstanding checks as of December 31, 2015. During the first quarter of 2015, the Company agreed to sell its equity interest in its Venezuela joint venture to its joint venture partner and recorded a $10.3 impairment of assets. On April 29, 2015, the Company closed the sale for the estimated fair market value and recorded a $1.0 reversal of impairment of assets based on final adjustments in the second quarter of 2015, resulting in a $9.3 impairment of assets for the six months ended June 30, 2015. During the remainder of 2015, the Company incurred an additional $0.4 related to uncollectible accounts receivable, which is included in selling and administrative expenses on the consolidated statements of operations. The Company no longer has a consolidating entity in Venezuela but will continue to operate in Venezuela on an indirect basis. Prior to the sale, the Company's Venezuela operations consisted of a fifty-percent owned subsidiary, which was consolidated. Venezuela was measured using the U.S. dollar as its functional currency because its economy is considered highly inflationary. On February 10, 2015, the Venezuela government introduced a new foreign currency exchange platform called the Marginal Currency System, or SIMADI, which replaced the SICAD 2 mechanism, yielding another significant increase in the exchange rate. As of March 31, 2015, management determined it was unlikely that the Company would be able to convert bolivars under a currency exchange other than SIMADI and remeasured its Venezuela balance sheet using the SIMADI rate of 192.95 compared to the previous SICAD 2 rate of 50.86, which resulted in a loss of $7.5 recorded within foreign exchange (loss) gain, net in the condensed consolidated statements of operations in the first quarter of 2015. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses (Policies) |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Receivables [Abstract] | |
| Loans and leases receivable | The Company records interest income and any fees or costs related to financing receivables using the effective interest method over the term of the lease or loan. The Company reviews the aging of its financing receivables to determine past due and delinquent accounts. Credit quality is reviewed at inception and is re-evaluated as needed based on customer-specific circumstances. Receivable balances 60 days to 89 days past due are reviewed and may be placed on nonaccrual status based on customer-specific circumstances. Receivable balances are placed on nonaccrual status upon reaching greater than 89 days past due. Upon receipt of payment on nonaccrual financing receivables, interest income is recognized and accrual of interest is resumed once the account has been made current or the specific circumstances have been resolved. |
Earnings Per Share (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Computation of earnings per share under the treasury stock method and the effect on the weighted-average number of shares of dilutive potential common stock: | The following represents amounts used in computing earnings per share and the effect on the weighted-average number of shares of dilutive potential common shares:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in shareholders' equity attributable to Diebold, Incorporated and the noncontrolling interests | The following table presents changes in shareholders' equity attributable to Diebold, Incorporated and the noncontrolling interests:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Loss (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accumulated Other Comprehensive Income (Loss) | The following table summarizes the changes in the Company’s accumulated other comprehensive (loss) income (AOCI), net of tax, by component for the three months ended March 31, 2016:
The following table summarizes the changes in the Company’s AOCI, net of tax, by component for the three months ended March 31, 2015:
(1) Other comprehensive (loss) income before reclassifications within the translation component excludes $2.9 of translation attributable to noncontrolling interests. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reclassification out of Accumulated Other Comprehensive Income | The following table summarizes the details about amounts reclassified from AOCI:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Options outstanding and exercisable under the Company's 1991 Equity and Performance Incentive Plan | Options outstanding and exercisable as of March 31, 2016 under the Company’s 1991 Equity and Performance Incentive Plan (as Amended and Restated as of February 12, 2014) (the 1991 Plan) and changes during the three months ended March 31, 2016 were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summarized information on unvested restricted stock units (RSUs), performance shares and deferred shares | The following table summarizes information on non-vested RSUs and performance shares relating to employees and non-employee directors for the three months ended March 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | The Company’s investments, excluding cash surrender value of insurance contracts of $74.9 and $75.9 as of March 31, 2016 and December 31, 2015, respectively, consisted of the following:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | The following table summarizes the Company’s allowance for credit losses for the three months ended March 31, 2016 and 2015:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Aging of past-due notes receivable | The following table summarizes the Company’s aging of past-due notes receivable balances:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Major classes of inventories | Major classes of inventories are summarized as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Assets (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Goodwill [Table Text Block] | The changes in carrying amounts of goodwill within the Company's segments are summarized as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Intangible Assets [Table Text Block] | The following summarizes information on intangible assets by major category:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt and Restricted Cash (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Long-term Debt Instruments [Table Text Block] | Below is a summary of anticipated financing and replacement facilities information, upon closing of the Acquisition and first compliance certificate:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Outstanding Debt Balances | Outstanding debt balances were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Benefit Plans (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Net Periodic Benefit Cost | The following table sets forth the net periodic benefit cost for the Company’s defined benefit pension plans and other benefits for the three months ended March 31:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantees and Product Warranties (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Guarantees and Product Warranties Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in warranty liability balance | Changes in the Company’s warranty liability balance are illustrated in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Derivative Instruments [Table Text Block] |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gain (loss) recognized on non-designated derivative instruments | The following table summarizes the gain (loss) recognized on derivative instruments for the three months ended March 31:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Other Charges (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Restructuring and Related Costs | The following table summarizes the impact of the Company’s restructuring charges on the condensed consolidated statements of operations:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring charges (accrual adjustments) within continuing operations by reporting segments | The following table summarizes the Company’s restructuring charges by reportable operating segment:
(1) NA includes corporate and global restructuring costs. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cumulative total restructuring costs [Table Text Block] | The following table summarizes the Company's cumulative total restructuring costs for the multi-year transformation plan as of March 31, 2016:
(1) NA includes corporate and global restructuring costs. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring accrual balances and related activity | The following table summarizes the Company’s restructuring accrual balances and related activity for the three months ended March 31:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Assets and Liabilities (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Assets and Liabilities Recorded at Fair Market Value | Assets and liabilities subject to fair value measurement are as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair value and carrying value of the Company's debt instruments | The fair value and carrying value of the Company’s debt instruments are summarized as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Segment Information | The following tables represent information regarding the Company’s segment information and provides a reconciliation between segment operating profit and the consolidated income (loss) from continuing operations before income taxes:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Revenue From External Customers By Product And Service Solution | The following table presents information regarding the Company’s revenue by service and product solution:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisitions and Divestitures (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions and Divestitures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disposal Groups, Including Discontinued Operations [Table Text Block] | The following summarizes select financial information included in income from discontinued operations, net of tax:
The following summarizes the assets and liabilities classified as held for sale in the condensed consolidated balance sheet:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Financial Statement (Details) - USD ($) |
Mar. 31, 2016 |
Dec. 31, 2015 |
|---|---|---|
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Debt Issuance Costs, Net | $ 7.6 | |
| Accounting Standards Update 2015-03 [Member] | ||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Debt Issuance Costs, Net | $ 6,900,000 |
Equity (Details) - USD ($) $ in Millions |
3 Months Ended | ||||
|---|---|---|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
||||
| Diebold, Incorporated shareholders' equity | |||||
| Balance at beginning of period | $ 412.4 | $ 531.6 | |||
| Comprehensive income (loss) attributable to Diebold, Incorporated | 198.1 | (65.9) | |||
| Common shares | 0.3 | 0.4 | |||
| Additional capital | 5.3 | 4.9 | |||
| Treasury shares | (1.7) | (2.6) | |||
| Dividends paid | (18.8) | (18.9) | |||
| Balance at end of period | 595.6 | 449.5 | |||
| Noncontrolling interests | |||||
| Balance at beginning of period | 23.1 | 23.3 | |||
| Comprehensive income (loss) attributable to noncontrolling interests, net (1) | 0.4 | 0.0 | [1] | ||
| Balance at end of period | $ 23.5 | 23.3 | |||
| Comprehensive income loss attributable to noncontrolling interests | (2.6) | ||||
| Venezuela noncontrolling interest adjustment | $ 2.6 | ||||
| |||||
Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions |
3 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|||||||
| Beginning Balance | $ (318.1) | $ (190.5) | ||||||
| Other comprehensive (loss) income before reclassifications (1) | 29.0 | (64.1) | ||||||
| Amounts reclassified from AOCI | 0.8 | 1.0 | ||||||
| Investment income | 4.9 | 7.9 | ||||||
| Net current-period other comprehensive (loss) income | 29.8 | (63.1) | ||||||
| Balance at March 31, 2016 | (288.3) | (253.6) | ||||||
| Translation adjustment | ||||||||
| Beginning Balance | (215.6) | (74.9) | ||||||
| Other comprehensive (loss) income before reclassifications (1) | 32.6 | [1] | (68.6) | [2] | ||||
| Amounts reclassified from AOCI | 0.0 | 0.0 | ||||||
| Net current-period other comprehensive (loss) income | 32.6 | (68.6) | ||||||
| Balance at March 31, 2016 | (183.0) | (143.5) | ||||||
| Foreign Currency Hedges | ||||||||
| Beginning Balance | 5.0 | (1.4) | ||||||
| Other comprehensive (loss) income before reclassifications (1) | (3.6) | 4.3 | ||||||
| Amounts reclassified from AOCI | 0.0 | 0.0 | ||||||
| Net current-period other comprehensive (loss) income | (3.6) | 4.3 | ||||||
| Balance at March 31, 2016 | 1.4 | 2.9 | ||||||
| Interest Rate Hedges | ||||||||
| Beginning Balance | (0.1) | (0.5) | ||||||
| Other comprehensive (loss) income before reclassifications (1) | 0.0 | 0.2 | ||||||
| Amounts reclassified from AOCI | (0.1) | (0.1) | ||||||
| Net current-period other comprehensive (loss) income | (0.1) | 0.1 | ||||||
| Balance at March 31, 2016 | (0.2) | (0.4) | ||||||
| Pension and Other Post-retirement Benefits | ||||||||
| Beginning Balance | (107.8) | (114.0) | ||||||
| Other comprehensive (loss) income before reclassifications (1) | 0.0 | 0.0 | ||||||
| Amounts reclassified from AOCI | 0.9 | 1.1 | ||||||
| Net current-period other comprehensive (loss) income | 0.9 | 1.1 | ||||||
| Balance at March 31, 2016 | (106.9) | (112.9) | ||||||
| Other | ||||||||
| Beginning Balance | 0.4 | 0.3 | ||||||
| Other comprehensive (loss) income before reclassifications (1) | 0.0 | 0.0 | ||||||
| Amounts reclassified from AOCI | 0.0 | 0.0 | ||||||
| Net current-period other comprehensive (loss) income | 0.0 | 0.0 | ||||||
| Balance at March 31, 2016 | 0.4 | 0.3 | ||||||
| Translation adjustment | ||||||||
| Other comprehensive (loss) income, translation adjustment, net of tax, attributable to noncontrolling interests | $ 0.2 | $ 2.9 | ||||||
| ||||||||
Accumulated Other Comprehensive Loss Reclassification Adjustments (Details) - USD ($) $ in Millions |
3 Months Ended | ||||
|---|---|---|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
||||
| Interest expense | $ (11.5) | $ (8.0) | |||
| Investment income | 4.9 | 7.9 | |||
| Total reclassifications for the period | 0.8 | 1.0 | |||
| Interest Rate Hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
| Interest expense | (0.1) | (0.1) | |||
| Net actuarial loss amortization | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
| Net periodic benefit cost | [1] | 0.9 | 1.0 | ||
| Net actuarial loss amortization, tax | (0.5) | (0.6) | |||
| Net prior service benefit amortization | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
| Net periodic benefit cost | [1] | 0.0 | 0.1 | ||
| Net prior service benefit amortization, amount recognized in other comprehensive income, tax | 0.0 | 0.0 | |||
| Pension and Other Post-retirement Benefits | |||||
| Total reclassifications for the period | 0.9 | 1.1 | |||
| Pension and Other Post-retirement Benefits | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
| Net periodic benefit cost | 0.9 | 1.1 | |||
| Unrealized loss on securities | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 0.0 | $ 0.0 | |||
| |||||
Share-Based Compensation - Stock Options (Details) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Mar. 31, 2016
USD ($)
$ / shares
shares
| ||||||
| Options outstanding and exercisable under the Company's 1991 Equity and Performance Incentive Plan | ||||||
| Outstanding, Shares, Beginning balance | shares | 1.7 | |||||
| Outstanding, Weighted average exercise price, Beginning balance | $ / shares | $ 34.21 | |||||
| Expired or forfeited, Shares | shares | (0.2) | |||||
| Expired or forfeited, Weighted average exercise price | $ / shares | $ 38.23 | |||||
| Granted, Shares | shares | 0.5 | |||||
| Granted, Weighted average exercise price | $ / shares | $ 27.39 | |||||
| Outstanding, Shares, Ending balance | shares | 2.0 | |||||
| Outstanding, Weighted average exercise price, Ending balance | $ / shares | $ 32.34 | |||||
| Outstanding, Weighted Average Remaining Contractual Term | 8 years | |||||
| Outstanding, Aggregate Intrinsic Value | $ | $ 0.8 | [1] | ||||
| Options exercisable, Shares | shares | 1.1 | |||||
| Options exercisable, Weighted average exercise price | $ / shares | $ 34.32 | |||||
| Option exercisable, Weighted average remaining contractual term | 6 years | |||||
| Option exercisable, Aggregate Intrinsic Value | $ | $ 0.1 | [1] | ||||
| Options vested and expected to vest, Shares | shares | 2.0 | [2] | ||||
| Options vested and expected to vest, Weighted average exercise price | $ / shares | $ 32.43 | [2] | ||||
| Options vested and expected to vest, Weighted average remaining contractual term | 7 years | [2] | ||||
| Options vested and expected to vest, aggregate intrinsic value | $ | $ 0.8 | [1],[2] | ||||
| ||||||
Share-Based Compensation - Compensation Expense and Information on Non-Vested Shares (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
| Share-based Compensation | $ 5.6 | $ 4.3 |
| Restricted Stock Units (RSUs) [Member] | ||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
| Unvested, Shares, Beginning balance | 0.9 | |
| Unvested, Weighted-average grant-date fair value, Beginning balance | $ 32.53 | |
| Forfeited, Shares | (0.1) | |
| Forfeited, Weighted-average grant-date fair value | $ 32.39 | |
| Vested, Shares | (0.2) | |
| Vested, Weighted-average grant-date fair value | $ 30.86 | |
| Granted, Shares | 0.5 | |
| Granted, Weighted-average grant-date fair value | $ 27.13 | |
| Unvested, Shares, Ending balance | 1.1 | |
| Unvested, Weighted-average grant-date fair value, Ending balance | $ 30.40 | |
| Performance Shares [Member] | ||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
| Unvested, Shares, Beginning balance | 0.8 | |
| Unvested, Weighted-average grant-date fair value, Beginning balance | $ 34.06 | |
| Forfeited, Shares | 0.0 | |
| Forfeited, Weighted-average grant-date fair value | $ 34.09 | |
| Vested, Shares | (0.2) | |
| Vested, Weighted-average grant-date fair value | $ 29.32 | |
| Granted, Shares | 0.6 | |
| Granted, Weighted-average grant-date fair value | $ 30.49 | |
| Unvested, Shares, Ending balance | 1.2 | |
| Unvested, Weighted-average grant-date fair value, Ending balance | $ 33.00 | |
| Deferred Compensation, Share-based Payments [Member] | ||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
| Vested, Shares, Ending Balance | 0.1 | |
| One year vest [Member] | Restricted Stock Units (RSUs) [Member] | ||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |
| Three year graded vest [Member] | Performance Shares [Member] | ||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Income Taxes (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|
| Income Tax Disclosure [Abstract] | ||
| Effective tax rate on income (loss) before taxes | (4.00%) | 25.20% |
| Increase (Decrease) in Derivative Assets and Liabilities | $ 36.5 | $ 0.0 |
Investments (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended |
|---|---|---|
Mar. 31, 2016 |
Dec. 31, 2015 |
|
| Short-term investments: | ||
| Short-term investments | $ 49.7 | $ 39.9 |
| Long-term Investments | 83.0 | 85.2 |
| Certificates of deposit | ||
| Short-term investments: | ||
| Investments, Cost Basis | 49.7 | 39.9 |
| Available-for-sale Securities, Accumulated Gross Unrealized Gain (Loss), before Tax | 0.0 | 0.0 |
| Assets held in rabbi trusts [Member] | ||
| Short-term investments: | ||
| Long-term Investments | 7.9 | 9.3 |
| Long-term investments: | ||
| Long-term investments, Unrealized Gain | 0.2 | 0.0 |
| Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of deposit | ||
| Short-term investments: | ||
| Short-term investments | 49.7 | 39.9 |
| Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Assets held in rabbi trusts [Member] | ||
| Long-term investments: | ||
| Fair value of assets held under trust | 8.1 | 9.3 |
| Certificates of deposit | Fair Value, Measurements, Recurring [Member] | ||
| Long-term investments: | ||
| Fair value of assets held under trust | $ 49.7 | $ 39.9 |
Investments (Details Textuals) - USD ($) $ in Millions |
Mar. 31, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Investments (Textuals) | ||
| Cash surrender value of insurance contracts | $ 74.9 | $ 75.9 |
Allowance for Credit Losses - Summary of Allowance for Credit Losses (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|
| Allowance for credit losses and recorded investment in financing receivables | ||
| January Balance | $ 4.6 | $ 4.5 |
| Provision for credit losses | 0.0 | 0.5 |
| March Balance | 4.6 | 5.0 |
| Finance Leases Financing Receivable [Member] | ||
| Allowance for credit losses and recorded investment in financing receivables | ||
| January Balance | 0.5 | 0.4 |
| Provision for credit losses | 0.0 | 0.5 |
| March Balance | 0.5 | 0.9 |
| Notes Receivable [Member] | ||
| Allowance for credit losses and recorded investment in financing receivables | ||
| January Balance | 4.1 | 4.1 |
| Provision for credit losses | 0.0 | 0.0 |
| March Balance | $ 4.1 | $ 4.1 |
Allowance for Credit Losses - Aging of Past-Due Receivables (Details) - Notes Receivable [Member] - USD ($) $ in Millions |
Mar. 31, 2016 |
Dec. 31, 2015 |
||
|---|---|---|---|---|
| Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
| Past due | $ 3.1 | $ 3.1 | ||
| Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
| Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
| Past due | 0.0 | 0.1 | ||
| Financing Receivables, 60 to 89 Days Past Due [Member] | ||||
| Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
| Past due | 0.0 | 0.0 | ||
| Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||||
| Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
| Past due | [1] | $ 3.1 | $ 3.0 | |
| ||||
Allowance for Credit Losses (Details Textuals) - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2016 |
Dec. 31, 2015 |
Mar. 31, 2015 |
|
| Allowance for credit losses (Textuals) | |||
| The recorded investment in past-due finance lease receivables on nonaccrual status | $ 0.6 | $ 0.7 | |
| The recorded investment in impaired notes receivable | 4.1 | 4.1 | |
| The recorded investment in impaired notes related allowance | $ 4.1 | 4.1 | |
| Minimum [Member] | |||
| Allowance for credit losses (Textuals) | |||
| Past Due Period of Financing Receivable Accruing Interest | 90 days | ||
| Period required for considering financing receivable as non accrual status | 60 days | ||
| Period for placing financing receivables on non-accrual status | 89 days | ||
| Maximum [Member] | |||
| Allowance for credit losses (Textuals) | |||
| Period required for considering financing receivable as non accrual status | 89 days | ||
| Latin America [Member] | |||
| Allowance for credit losses (Textuals) | |||
| Financing Receivable, Recorded Investment, Current | $ 56.0 | $ 58.8 | |
| Finance Leases Financing Receivable [Member] | |||
| Allowance for credit losses (Textuals) | |||
| Financing Receivable, Individually Evaluated for Impairment | 73.8 | $ 126.4 | |
| Notes Receivable [Member] | |||
| Allowance for credit losses (Textuals) | |||
| Financing Receivable, Individually Evaluated for Impairment | $ 5.7 | $ 8.5 |
Inventories (Details) - USD ($) |
Mar. 31, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Inventory, Net | $ 412,200,000 | $ 369,300,000 |
| Major classes of inventories | ||
| Finished goods | 174,400,000 | 145,800,000 |
| Service parts | 156,700,000 | 155,700,000 |
| Raw materials and work in process | 81,100,000 | 67,800,000 |
| Total inventories | $ 412,200,000 | 369,300,000 |
| Reclassification between service parts and raw materials and work in process | ||
| Inventory, Net | 19.7 | |
| Major classes of inventories | ||
| Total inventories | $ 19.7 |
Goodwill and Other Assets (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
Mar. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
| Goodwill [Line Items] | |||
| Goodwill | $ 457.7 | $ 452.2 | $ 428.8 |
| Accumulated impairment losses | (290.7) | (290.7) | (290.7) |
| Beginning balance | 161.5 | 138.1 | |
| Goodwill acquired | 39.7 | ||
| Goodwill adjustment | 0.2 | ||
| Currency translation adjustment | 5.3 | (16.3) | |
| Ending balance | 167.0 | 161.5 | |
| North America Segment [Member] | |||
| Goodwill [Line Items] | |||
| Goodwill | 115.4 | 112.7 | 76.4 |
| Accumulated impairment losses | (13.2) | (13.2) | (13.2) |
| Beginning balance | 99.5 | 63.2 | |
| Goodwill acquired | 39.7 | ||
| Goodwill adjustment | 0.2 | ||
| Currency translation adjustment | 2.5 | (3.4) | |
| Ending balance | 102.2 | 99.5 | |
| Asia Pacific Segment [Member] | |||
| Goodwill [Line Items] | |||
| Goodwill | 38.3 | 37.6 | 40.0 |
| Accumulated impairment losses | 0.0 | 0.0 | 0.0 |
| Beginning balance | 37.6 | 40.0 | |
| Goodwill acquired | 0.0 | ||
| Goodwill adjustment | 0.0 | ||
| Currency translation adjustment | 0.7 | (2.4) | |
| Ending balance | 38.3 | 37.6 | |
| EMEA Segment [Member] | |||
| Goodwill [Line Items] | |||
| Goodwill | 168.7 | 168.7 | 168.7 |
| Accumulated impairment losses | (168.7) | (168.7) | (168.7) |
| Beginning balance | 0.0 | 0.0 | |
| Goodwill acquired | 0.0 | ||
| Goodwill adjustment | 0.0 | ||
| Currency translation adjustment | 0.0 | 0.0 | |
| Ending balance | 0.0 | 0.0 | |
| Latin America Segment [Member] | |||
| Goodwill [Line Items] | |||
| Goodwill | 135.3 | 133.2 | 143.7 |
| Accumulated impairment losses | (108.8) | (108.8) | $ (108.8) |
| Beginning balance | 24.4 | 34.9 | |
| Goodwill acquired | 0.0 | ||
| Goodwill adjustment | 0.0 | ||
| Currency translation adjustment | 2.1 | (10.5) | |
| Ending balance | $ 26.5 | $ 24.4 |
Goodwill and Other Assets(Details Textuals) $ in Millions |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
|
Mar. 31, 2016
USD ($)
segments
|
Mar. 31, 2015
USD ($)
|
Dec. 31, 2015
USD ($)
|
|
| Number of reportable segments | segments | 4 | ||
| Goodwill adjustment | $ 0.2 | ||
| Goodwill acquired | $ 39.7 | ||
| Amortization of internally-developed software | 3.2 | $ 3.5 | |
| Impairments of internally-developed software | $ 9.1 | ||
| North America Segment [Member] | |||
| Goodwill adjustment | 0.2 | ||
| Goodwill acquired | 39.7 | ||
| Latin America Segment [Member] | |||
| Goodwill adjustment | 0.0 | ||
| Goodwill acquired | 0.0 | ||
| Asia Pacific Segment [Member] | |||
| Goodwill adjustment | $ 0.0 | ||
| Goodwill acquired | $ 0.0 | ||
Goodwill and Other Assets Schedule of Intangible Assets (Details) - USD ($) $ in Millions |
Mar. 31, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Finite-Lived Intangible Assets [Line Items] | ||
| Intangible Assets, Gross (Excluding Goodwill) | $ 129.7 | $ 129.1 |
| Finite-Lived Intangible Assets, Accumulated Amortization | (63.3) | (64.8) |
| Intangible Assets, Net (Including Goodwill) | 66.4 | 64.3 |
| Technology-Based Intangible Assets [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Intangible Assets, Gross (Excluding Goodwill) | 92.4 | 92.4 |
| Finite-Lived Intangible Assets, Accumulated Amortization | (46.6) | (48.5) |
| Intangible Assets, Net (Including Goodwill) | 45.8 | 43.9 |
| Other Intangible Assets [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Intangible Assets, Gross (Excluding Goodwill) | 37.3 | 36.7 |
| Finite-Lived Intangible Assets, Accumulated Amortization | (16.7) | (16.3) |
| Intangible Assets, Net (Including Goodwill) | $ 20.6 | $ 20.4 |
Debt and Restricted Cash (Details) - USD ($) $ in Millions |
Mar. 31, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Notes payable | ||
| Uncommitted lines of credit | $ 39.3 | $ 19.2 |
| Term loan | 12.9 | 11.5 |
| Senior Notes, Current | 50.0 | 0.0 |
| Other | 1.5 | 1.3 |
| Short-term Debt | 103.7 | 32.0 |
| Long-term debt | ||
| Revolving credit facility | 221.1 | 168.0 |
| Term loan | 214.2 | 218.5 |
| Senior notes (5.50 percent) | 0.0 | 225.0 |
| Other | 1.2 | 1.6 |
| Long-term deferred financing fees | (7.6) | (6.9) |
| Long-term debt | $ 428.9 | $ 606.2 |
Debt and Restricted Cash (Details Textuals) € in Millions, $ in Millions |
1 Months Ended | 3 Months Ended | 7 Months Ended | 61 Months Ended | 92 Months Ended | 97 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2016
USD ($)
|
Jun. 30, 2016 |
Mar. 31, 2016
USD ($)
|
Mar. 31, 2015
USD ($)
|
Mar. 31, 2013
USD ($)
|
Nov. 21, 2016 |
Dec. 31, 2020 |
Nov. 30, 2023 |
Apr. 30, 2024 |
May. 02, 2016
USD ($)
|
Apr. 30, 2016
EUR (€)
|
Apr. 30, 2016
USD ($)
|
Apr. 19, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Mar. 31, 2006
USD ($)
|
||||||
| Debt (Textuals) | ||||||||||||||||||||
| Debt issuance costs | $ 0.8 | $ 0.0 | ||||||||||||||||||
| Debt Instrument, Covenant Compliance | As of September 30, 2015 the Company was in compliance with the financial covenants in its debt agreements. | |||||||||||||||||||
| Senior Notes, Current | $ 50.0 | $ 50.0 | $ 0.0 | |||||||||||||||||
| Restricted cash | 116.1 | 116.1 | $ 0.0 | |||||||||||||||||
| June 2015 Revolving Credit Facility [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Line of Credit Facility, Current Borrowing Capacity | 520.0 | $ 520.0 | ||||||||||||||||||
| Senior Notes [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Issuance of Senior Notes, Principal amount | $ 300.0 | |||||||||||||||||||
| Notional Amount Of Senior Notes Interest Rate Cash Flow Hedge Derivatives | $ 200.0 | |||||||||||||||||||
| Debt, Weighted Average Interest Rate | 5.50% | |||||||||||||||||||
| Effective interest rate before cash flow hedge | 5.50% | |||||||||||||||||||
| Effective interest rate after cash flow hedge | 5.36% | |||||||||||||||||||
| Repayments of Long-term Debt | 175.0 | $ 75.0 | ||||||||||||||||||
| Industrial development revenue bonds [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Bond maturity period | 20 years | |||||||||||||||||||
| December 2015 Revolving Credit Facility [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Line of Credit Facility, Current Borrowing Capacity | 520.0 | $ 520.0 | ||||||||||||||||||
| Revolving Credit Facility [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Amount available under credit facility | $ 298.9 | $ 298.9 | ||||||||||||||||||
| Weighted average interest rate on credit facility borrowings outstanding | 2.30% | 2.30% | 2.33% | |||||||||||||||||
| Uncommitted Line of Credit [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Borrowing limit of short term uncommitted line of credit | $ 109.0 | $ 109.0 | ||||||||||||||||||
| Weighted average interest rate on outstanding borrowings | 3.78% | 3.78% | 5.66% | |||||||||||||||||
| Amount available under credit facility | $ 68.8 | $ 68.8 | ||||||||||||||||||
| Maturity time of short term uncommitted lines | less than one year | |||||||||||||||||||
| Scenario, Forecast [Member] | Senior Notes [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Long Term Debt Make Whole Premium | $ 3.9 | |||||||||||||||||||
| Initial Borrowing Capacity [Member] | June 2015 Term Loan [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Unsecured Debt | 230.0 | $ 230.0 | ||||||||||||||||||
| Initial Borrowing Capacity [Member] | December 2015 Term Loan [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Unsecured Debt | 230.0 | 230.0 | ||||||||||||||||||
| Initial Borrowing Capacity [Member] | Delayed Draw Term Loan A [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Unsecured Debt | $ 250.0 | $ 250.0 | ||||||||||||||||||
| Subsequent Event [Member] | December 2015 Term Loan [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Line of credit facility description of variable rate basis | LIBOR + 2.00% | |||||||||||||||||||
| Subsequent Event [Member] | Delayed Draw Term Loan A [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Line of credit facility description of variable rate basis | LIBOR + 2.00% | |||||||||||||||||||
| Subsequent Event [Member] | Senior Notes Due 2024 [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Senior Notes | $ 400.0 | |||||||||||||||||||
| Debt Instrument, Interest Rate, Stated Percentage | 8.50% | |||||||||||||||||||
| Line of credit facility description of variable rate basis | 0.085 | |||||||||||||||||||
| Debt Instrument, Redemption Price, Percentage | 100.00% | |||||||||||||||||||
| Subsequent Event [Member] | Term Loan B USD [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Line of credit facility description of variable rate basis | [1] | LIBOR(i) + 4.50% | ||||||||||||||||||
| Unsecured Debt | $ 1,000.0 | |||||||||||||||||||
| Subsequent Event [Member] | Term Loan B USD [Member] | Minimum [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Line of credit facility description of variable rate basis | LIBOR with a floor of 0.75% | |||||||||||||||||||
| Subsequent Event [Member] | Term Loan B EUR [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Line of credit facility description of variable rate basis | [2] | EURIBOR(ii) + 4.25% | ||||||||||||||||||
| Unsecured Debt | € | € 350.0 | |||||||||||||||||||
| Subsequent Event [Member] | Term Loan B EUR [Member] | Minimum [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Line of credit facility description of variable rate basis | EURIBOR with a floor of 0.75% | |||||||||||||||||||
| Subsequent Event [Member] | Term Loan B [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Expected Percent Funded Of Par | 99.00% | |||||||||||||||||||
| Subsequent Event [Member] | Revolving Credit Facility [Member] | ||||||||||||||||||||
| Debt (Textuals) | ||||||||||||||||||||
| Line of credit facility description of variable rate basis | LIBOR + 2.00% | |||||||||||||||||||
| Foreign currency option contract | ||||||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||||||
| Derivative, Weighted Average Foreign Currency Option Strike Price | 1.09 | 1.09 | ||||||||||||||||||
| ||||||||||||||||||||
Benefit Plans (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|
| Components of net periodic benefit cost | ||
| Contributions to qualified and non qualified pension plans | $ 1.1 | $ 11.1 |
| Pension Plan [Member] | ||
| Components of net periodic benefit cost | ||
| Service cost | 0.9 | 0.9 |
| Interest cost | 6.2 | 5.9 |
| Expected return on plan assets | (6.7) | (6.7) |
| Recognized net actuarial loss | 1.4 | 1.7 |
| Net periodic pension benefit cost | 1.8 | 1.8 |
| Other Benefits [Member] | ||
| Components of net periodic benefit cost | ||
| Service cost | 0.0 | 0.0 |
| Interest cost | 0.1 | 0.1 |
| Expected return on plan assets | 0.0 | 0.0 |
| Recognized net actuarial loss | 0.1 | 0.1 |
| Net periodic pension benefit cost | $ 0.2 | $ 0.2 |
Guarantees and Product Warranties (Details) - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
Dec. 31, 2015 |
|
| Guarantees and Product Warranties (Textuals) | |||
| Maximum future payment obligations | $ 92.6 | $ 89.9 | |
| Standby letters of credit | 30.0 | $ 30.0 | |
| Changes in warranty liability balance | |||
| Beginning Balance | 73.6 | $ 113.3 | |
| Current period accruals | 1.7 | 9.9 | |
| Current period settlements | (10.7) | (12.7) | |
| Currency translation adjustment | 4.0 | (13.4) | |
| Ending Balance | $ 68.6 | $ 97.1 | |
Commitments and Contingencies (Details) BRL in Millions, $ in Millions |
3 Months Ended | ||
|---|---|---|---|
|
Mar. 31, 2016
BRL
|
Mar. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
|
| Loss Contingencies [Line Items] | |||
| Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months | $ 7.5 | ||
| Indirect Tax Liability [Member] | |||
| Loss Contingencies [Line Items] | |||
| Loss Contingency, Range of Possible Loss, Portion Not Accrued | 196.7 | ||
| Brazilian Federal Indirect Tax Assessment [Member] | |||
| Loss Contingencies [Line Items] | |||
| Loss Contingency, Damages Sought, Value | BRL | BRL 270.0 | ||
| Loss Contingency Accrual, at Carrying Value | 8.3 | $ 7.5 | |
| Loss Contingency, Range of Possible Loss, Portion Not Accrued | 160.2 | ||
| Thailand Customs Matter [Member] | |||
| Loss Contingencies [Line Items] | |||
| Loss Contingency, Range of Possible Loss, Portion Not Accrued | $ 24.0 |
Derivative Instruments and Hedging Activities (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|
| Derivative Instruments Gain (Loss) [Line Items] | ||
| Interest expense | $ (11.5) | $ (8.0) |
| Miscellaneous, net | 34.6 | (1.2) |
| Foreign exchange (loss) gain, net | (2.4) | (9.2) |
| Gain (loss) recognized on non-designated derivative instruments: | ||
| Gain (loss) recognized on non-designated derivative instruments, total | 31.7 | 3.7 |
| Interest rate swaps | ||
| Derivative Instruments Gain (Loss) [Line Items] | ||
| Interest expense | (1.0) | (1.3) |
| Gain on foreign currency option contracts | ||
| Derivative Instruments Gain (Loss) [Line Items] | ||
| Miscellaneous, net | 36.5 | 0.0 |
| Foreign exchange forward contracts | ||
| Derivative Instruments Gain (Loss) [Line Items] | ||
| Foreign exchange (loss) gain, net | $ (3.8) | $ 5.0 |
Derivative Instruments and Hedging Activities (Details Textuals) € in Millions, $ in Millions |
3 Months Ended | 8 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2016
USD ($)
|
Mar. 31, 2015
USD ($)
|
Nov. 21, 2016
EUR (€)
|
Nov. 30, 2016
USD ($)
|
Apr. 25, 2016
USD ($)
|
Mar. 31, 2016
EUR (€)
|
Mar. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Mar. 31, 2006
USD ($)
|
|
| Derivative Instruments and Hedging Activities (Textuals) | |||||||||
| Fair value of investment hedge contracts | $ (4.5) | $ 1.0 | |||||||
| (Loss) gain on investment hedge derivative | $ (5.5) | $ 6.6 | |||||||
| Fair value of non-designated foreign exchange forward contracts | 1.9 | 0.9 | |||||||
| Maximum maturities of Foreign exchange forward contracts | 24 months | ||||||||
| Increase (Decrease) in Derivative Assets | $ (36.5) | ||||||||
| Foreign currency option contract | |||||||||
| Derivative Instruments and Hedging Activities (Textuals) | |||||||||
| Notional amount of pay-fixed receive-variable interest rate swap | € 1,416.0 | $ 1,547.1 | |||||||
| Derivative, Number of Instruments Held | 2 | 2 | |||||||
| Interest rate hedges | |||||||||
| Derivative Instruments and Hedging Activities (Textuals) | |||||||||
| Notional amount of pay-fixed receive-variable interest rate swap | $ 25.0 | $ 200.0 | |||||||
| Gain recognized on designated cash flow hedges | $ 0.3 | ||||||||
| Number of Interest Rate Derivatives Held | 1 | 1 | |||||||
| Subsequent Event [Member] | Foreign currency option contract | |||||||||
| Derivative Instruments and Hedging Activities (Textuals) | |||||||||
| Delayed Premium On Derivative Contract | $ 60.0 | ||||||||
| Subsequent Event [Member] | Wincor Nixdorf [Member] | |||||||||
| Derivative Instruments and Hedging Activities (Textuals) | |||||||||
| Payments to Acquire Businesses, Gross | € | € 1,162.2 | ||||||||
| Fair Value, Measurements, Recurring [Member] | Foreign currency option contract | |||||||||
| Derivative Instruments and Hedging Activities (Textuals) | |||||||||
| Derivative Asset | $ 43.5 | $ 7.0 | |||||||
| Fair Value, Measurements, Recurring [Member] | Subsequent Event [Member] | Foreign currency option contract | |||||||||
| Derivative Instruments and Hedging Activities (Textuals) | |||||||||
| Derivative Asset | $ 27.6 | ||||||||
Restructuring, Impairment and Other Charges - Restructuring Charges By Statement of Income Account (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|
| Schedule of restructuring and related costs | ||
| Restructuring Charges | $ 0.4 | $ 3.1 |
| Cost of sales – services | ||
| Schedule of restructuring and related costs | ||
| Restructuring Charges | 0.3 | 0.0 |
| Selling and administrative expense | ||
| Schedule of restructuring and related costs | ||
| Restructuring Charges | 0.1 | 2.5 |
| Research, development and engineering expense | ||
| Schedule of restructuring and related costs | ||
| Restructuring Charges | $ 0.0 | $ 0.6 |
Restructuring, Impairment and Other Charges - Restructuring Charges By Segment (Details) - USD ($) $ in Millions |
3 Months Ended | ||||
|---|---|---|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring Charges | $ 0.4 | $ 3.1 | |||
| Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring Charges | 0.4 | 3.1 | |||
| North America Segment [Member] | Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring Charges | [1] | 0.0 | 1.5 | ||
| Asia Pacific Segment [Member] | Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring Charges | 0.0 | 0.0 | |||
| EMEA Segment [Member] | Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring Charges | 0.1 | 0.9 | |||
| Latin America Segment [Member] | Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring Charges | 0.3 | 0.7 | |||
| Multi-Year Transformation Plan [Member] | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 101.2 | ||||
| Restructuring Charges | 0.4 | $ 3.1 | |||
| Multi-Year Transformation Plan [Member] | Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 97.7 | ||||
| Multi-Year Transformation Plan [Member] | Other | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 3.5 | ||||
| Multi-Year Transformation Plan [Member] | North America Segment [Member] | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | [1] | 69.9 | |||
| Multi-Year Transformation Plan [Member] | North America Segment [Member] | Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | [1] | 67.9 | |||
| Multi-Year Transformation Plan [Member] | North America Segment [Member] | Other | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | [1] | 2.0 | |||
| Multi-Year Transformation Plan [Member] | Asia Pacific Segment [Member] | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 4.4 | ||||
| Multi-Year Transformation Plan [Member] | Asia Pacific Segment [Member] | Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 3.8 | ||||
| Multi-Year Transformation Plan [Member] | Asia Pacific Segment [Member] | Other | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 0.6 | ||||
| Multi-Year Transformation Plan [Member] | EMEA Segment [Member] | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 6.6 | ||||
| Multi-Year Transformation Plan [Member] | EMEA Segment [Member] | Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 5.7 | ||||
| Multi-Year Transformation Plan [Member] | EMEA Segment [Member] | Other | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 0.9 | ||||
| Multi-Year Transformation Plan [Member] | Latin America Segment [Member] | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 20.3 | ||||
| Multi-Year Transformation Plan [Member] | Latin America Segment [Member] | Severance | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | 20.3 | ||||
| Multi-Year Transformation Plan [Member] | Latin America Segment [Member] | Other | |||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and Related Cost, Cost Incurred to Date | $ 0.0 | ||||
| |||||
Restructuring and Other Charges - Restructuring Reserve Activity (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|
| Restructuring and Related Activities [Abstract] | ||
| Restructuring Reserve, beginning of period | $ 4.7 | $ 7.6 |
| Liabilities incurred | 0.4 | 3.1 |
| Liabilities paid/settled | (1.3) | (5.2) |
| Restructuring Reserve, end of period | $ 3.8 | $ 5.5 |
Restructuring, Impairment and Other Charges (Details Textuals) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2016 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Jun. 30, 2015 |
|
| Unusual or Infrequent Item [Line Items] | ||||
| Impairments of internally-developed software | $ 9,100,000 | |||
| Impairment of assets | $ 0 | 19,400,000 | ||
| Restructuring Charges | 400,000 | 3,100,000 | ||
| Non routine (expenses) income net | 14,100,000 | 4,600,000 | ||
| Acquisition and divestiture related costs | 11,000,000.0 | |||
| Multi-Year Transformation Plan [Member] | ||||
| Unusual or Infrequent Item [Line Items] | ||||
| Restructuring Charges | 400,000 | 3,100,000 | ||
| Minimum [Member] | Expected Future Costs to Be Recognized [Member] | ||||
| Unusual or Infrequent Item [Line Items] | ||||
| Restructuring and Related Cost, Expected Cost | 7,000,000 | |||
| Maximum [Member] | Expected Future Costs to Be Recognized [Member] | ||||
| Unusual or Infrequent Item [Line Items] | ||||
| Restructuring and Related Cost, Expected Cost | $ 10,000,000 | |||
| VENEZUELA | ||||
| Unusual or Infrequent Item [Line Items] | ||||
| Impairment of assets | $ 1,000,000 | $ 10,300,000 | $ 9,300,000 | |
Fair Value of Assets and Liabilities - Fair Value Measurements (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Dec. 31, 2015 |
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair Value Transfers Between Levels Amount | $ 0.0 | |
| Fair value assets measured on recurring basis | ||
| Short-term investments | 49.7 | $ 39.9 |
| Fair Value, Measurements, Recurring [Member] | ||
| Fair value assets measured on recurring basis | ||
| Restricted Cash and Cash Equivalents | 116.1 | 0.0 |
| Total | 222.3 | 59.7 |
| Fair value liabilities measured on recurring basis | ||
| Total | 15.6 | 10.8 |
| Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair value assets measured on recurring basis | ||
| Restricted Cash and Cash Equivalents | 116.1 | 0.0 |
| Total | 173.9 | 49.2 |
| Fair value liabilities measured on recurring basis | ||
| Total | 8.1 | 9.3 |
| Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
| Fair value assets measured on recurring basis | ||
| Restricted Cash and Cash Equivalents | 0.0 | 0.0 |
| Total | 48.4 | 10.5 |
| Fair value liabilities measured on recurring basis | ||
| Total | 7.5 | 1.5 |
| Foreign exchange forward contracts | Fair Value, Measurements, Recurring [Member] | ||
| Fair value assets measured on recurring basis | ||
| Foreign currency option contracts | 4.9 | 3.5 |
| Fair value liabilities measured on recurring basis | ||
| Derivative Liability | 7.5 | 1.5 |
| Foreign exchange forward contracts | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair value assets measured on recurring basis | ||
| Foreign currency option contracts | 0.0 | 0.0 |
| Fair value liabilities measured on recurring basis | ||
| Derivative Liability | 0.0 | 0.0 |
| Foreign exchange forward contracts | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
| Fair value assets measured on recurring basis | ||
| Foreign currency option contracts | 4.9 | 3.5 |
| Fair value liabilities measured on recurring basis | ||
| Derivative Liability | 7.5 | 1.5 |
| Foreign currency option contract | Fair Value, Measurements, Recurring [Member] | ||
| Fair value assets measured on recurring basis | ||
| Foreign currency option contracts | 43.5 | 7.0 |
| Foreign currency option contract | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair value assets measured on recurring basis | ||
| Foreign currency option contracts | 0.0 | 0.0 |
| Foreign currency option contract | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
| Fair value assets measured on recurring basis | ||
| Foreign currency option contracts | 43.5 | 7.0 |
| Certificates of deposit | Fair Value, Measurements, Recurring [Member] | ||
| Fair value assets measured on recurring basis | ||
| Fair value of investment assets | 49.7 | 39.9 |
| Certificates of deposit | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
| Fair value assets measured on recurring basis | ||
| Fair value of investment assets | 0.0 | 0.0 |
| Assets held in rabbi trusts [Member] | Fair Value, Measurements, Recurring [Member] | ||
| Fair value assets measured on recurring basis | ||
| Assets held in rabbi trusts | 8.1 | 9.3 |
| Fair value liabilities measured on recurring basis | ||
| Deferred compensation | 8.1 | 9.3 |
| Assets held in rabbi trusts [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair value assets measured on recurring basis | ||
| Fair value of investment assets | 8.1 | 9.3 |
| Assets held in rabbi trusts [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
| Fair value assets measured on recurring basis | ||
| Assets held in rabbi trusts | 0.0 | 0.0 |
| Fair value liabilities measured on recurring basis | ||
| Deferred compensation | $ 0.0 | $ 0.0 |
Fair Value of Assets and Liabilities - Summary of Liabilities Recorded at Carrying Value (Details) - USD ($) $ in Millions |
Mar. 31, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Fair Value Disclosures [Abstract] | ||
| Senior Notes, Current | $ 50.0 | $ 0.0 |
| Fair value and carrying value of the Company's debt instruments | ||
| Current notes payable - Fair value | 103.7 | 32.0 |
| Notes payable - Carrying value | 103.7 | 32.0 |
| Long-term debt - Fair Value | 428.9 | 613.0 |
| Long-term debt - Carrying value | 428.9 | 606.2 |
| Total debt instruments - Fair value | 532.6 | 645.0 |
| Total debt instruments - Carrying value | $ 532.6 | $ 638.2 |
Segment Information - (Details) - USD ($) $ in Millions |
3 Months Ended | ||||
|---|---|---|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
Dec. 31, 2015 |
|||
| Summary of Segment Information | |||||
| Total net sales | $ 509.6 | $ 574.8 | |||
| Operating profit | (5.7) | (3.0) | |||
| Impairment of assets | 0.0 | (19.4) | |||
| Restructuring charges | (0.4) | (3.1) | |||
| Net non-routine expense | 14.1 | 4.6 | |||
| Other expense | 25.6 | (10.5) | |||
| Income (loss) from continuing operations before taxes | 19.9 | (13.5) | |||
| Depreciation and amortization expense | 15.0 | 16.2 | |||
| Property, plant and equipment, at cost | 615.0 | $ 609.0 | |||
| Operating Segments [Member] | |||||
| Summary of Segment Information | |||||
| Intersegment revenue | 65.6 | 51.7 | |||
| Operating profit | 79.5 | 94.8 | |||
| Depreciation and amortization expense | 7.0 | 7.1 | |||
| Property, plant and equipment, at cost | 261.3 | 251.1 | |||
| Operating Segments [Member] | North America Segment [Member] | |||||
| Summary of Segment Information | |||||
| Total net sales | 251.7 | 259.2 | |||
| Intersegment revenue | 17.9 | 21.1 | |||
| Operating profit | 53.4 | 61.1 | |||
| Depreciation and amortization expense | 2.9 | 1.8 | |||
| Property, plant and equipment, at cost | 115.3 | 110.7 | |||
| Operating Segments [Member] | Asia Pacific Segment [Member] | |||||
| Summary of Segment Information | |||||
| Total net sales | 80.5 | 110.5 | |||
| Intersegment revenue | 19.9 | 19.4 | |||
| Operating profit | 8.7 | 18.2 | |||
| Depreciation and amortization expense | 1.7 | 1.6 | |||
| Property, plant and equipment, at cost | 54.2 | 53.3 | |||
| Operating Segments [Member] | EMEA Segment [Member] | |||||
| Summary of Segment Information | |||||
| Total net sales | 85.6 | 86.8 | |||
| Intersegment revenue | 27.7 | 11.1 | |||
| Operating profit | 10.4 | 12.4 | |||
| Depreciation and amortization expense | 0.8 | 0.8 | |||
| Property, plant and equipment, at cost | 36.8 | 35.2 | |||
| Operating Segments [Member] | Latin America Segment [Member] | |||||
| Summary of Segment Information | |||||
| Total net sales | 91.8 | 118.3 | |||
| Intersegment revenue | 0.1 | 0.1 | |||
| Operating profit | 7.0 | 3.1 | |||
| Depreciation and amortization expense | 1.6 | 2.9 | |||
| Property, plant and equipment, at cost | 55.0 | 51.9 | |||
| Corporate and Reconciling Items [Member] | |||||
| Summary of Segment Information | |||||
| Operating profit | (85.2) | (97.8) | |||
| Corporate, Non-Segment [Member] | |||||
| Summary of Segment Information | |||||
| Operating profit | [1] | (70.7) | (70.7) | ||
| Depreciation and amortization expense | 8.0 | 9.1 | |||
| Property, plant and equipment, at cost | 353.7 | $ 357.9 | |||
| Segment Reconciling Items [Member] | |||||
| Summary of Segment Information | |||||
| Impairment of assets | 0.0 | (19.4) | |||
| Restructuring charges | (0.4) | (3.1) | |||
| Net non-routine expense | $ (14.1) | $ (4.6) | |||
| |||||
Segment Information - Revenue by Service/Product Solution (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
|
| Revenue from External Customer [Line Items] | ||
| Services | $ 336.7 | $ 341.6 |
| Products | 172.9 | 233.2 |
| Total net sales | 509.6 | 574.8 |
| Financial Self Service And Security [Member] | ||
| Revenue from External Customer [Line Items] | ||
| Total net sales | 507.6 | 564.5 |
| Financial Self-Service [Member] | ||
| Revenue from External Customer [Line Items] | ||
| Services | 289.3 | 291.2 |
| Products | 157.2 | 203.8 |
| Total net sales | 446.5 | 495.0 |
| Security [Member] | ||
| Revenue from External Customer [Line Items] | ||
| Services | 47.4 | 50.4 |
| Products | 13.7 | 19.1 |
| Total net sales | 61.1 | 69.5 |
| Brazil Other [Member] | ||
| Revenue from External Customer [Line Items] | ||
| Total net sales | $ 2.0 | $ 10.3 |
Segment Information (Details Textuals) |
3 Months Ended |
|---|---|
|
Mar. 31, 2016
segments
| |
| Segment Reporting [Abstract] | |
| Number of reportable segments | 4 |
Acquisitions (Details) € / shares in Units, € in Millions, $ in Millions |
3 Months Ended | 8 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Mar. 31, 2016
USD ($)
|
Mar. 31, 2015
USD ($)
|
Nov. 21, 2016
EUR (€)
|
Sep. 30, 2015
EUR (€)
|
Apr. 12, 2016
shares
|
Mar. 29, 2016 |
Dec. 31, 2015
€ / shares
shares
|
|
| Business Acquisition [Line Items] | |||||||
| Impairment of assets | $ | $ 0.0 | $ 19.4 | |||||
| Wincor Nixdorf [Member] | |||||||
| Business Acquisition [Line Items] | |||||||
| Business Acquisition, Ordinary Shares Outstanding | 29,800,000 | ||||||
| Business Acquisition, Ordinary Shares Issued | 33,100,000 | ||||||
| Business Acquisition, Treasury Shares | 3,300,000 | ||||||
| Business Acquisition, Share Price | € / shares | € 38.98 | ||||||
| Business Acquisition, Shares Exchanged For Acquiree Shares | 0.434 | ||||||
| Business Acquisition, Percentage Tendered Of Ordinary Shares Issued | 68.90% | ||||||
| Business Acquisition, Percentage Tendered Of Ordinary Shares Outstanding | 76.50% | ||||||
| Business Acquisition, Revenue Reported By Target Acquisition For Last Annual Period | € | € 2,427.0 | ||||||
| Phoenix Interactive Design, Inc [Member] | |||||||
| Business Acquisition [Line Items] | |||||||
| Amount of deferred payments related to acquisition | $ | $ 12.6 | ||||||
| Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||
| Payments to Acquire Businesses, Gross | $ | $ 72.9 | ||||||
| Subsequent Event [Member] | Wincor Nixdorf [Member] | |||||||
| Business Acquisition [Line Items] | |||||||
| Business Acquisition, Percentage Tendered Of Ordinary Shares Issued | 69.90% | ||||||
| Business Acquisition, Percentage Tendered Of Ordinary Shares Outstanding | 77.50% | ||||||
| Business Acquisition, Number Of Ordinary Shares Tendered | 22,900,000 | ||||||
| Business Acquisition, Number Of Voting Proxies Held | 200,000 | ||||||
| Payments to Acquire Businesses, Gross | € | € 1,162.2 | ||||||
Acquisitions and Divestitures Divestitures (Details) $ in Millions |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|---|
|
Mar. 31, 2016
USD ($)
|
Jun. 30, 2015
USD ($)
|
Mar. 31, 2015
USD ($)
|
Jun. 30, 2015
USD ($)
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2014 |
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
| Impairment of assets | $ 0.0 | $ 19.4 | ||||
| Cost of sales | ||||||
| Income from discontinued operations, net of tax | 147.8 | 4.5 | ||||
| Total current assets | 0.0 | $ 148.2 | ||||
| LIABILITIES | ||||||
| Total current liabilities | 0.0 | 49.4 | ||||
| Devaluation of Venezuela balance sheet | 0.0 | 7.5 | ||||
| NA Electronic Security [Member] | ||||||
| ASSETS | ||||||
| Cash and cash equivalents | (1.5) | |||||
| Services | 16.3 | 52.4 | ||||
| Proceeds from Divestiture of Businesses | $ 350.0 | |||||
| Divestiture Agreed Upon Contingent Payment | 10.00% | |||||
| Divestiture Proceeds From Contingent Payment | $ 35.0 | |||||
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 149.1 | 0.0 | ||||
| Divestiture Credit For Transition Services | 6.0 | |||||
| Divestiture Credit For Transition Services Quarterly Payment | 5.0 | |||||
| Divestiture Credit For Transition Services Credit Against Payments | 1.0 | |||||
| Divestiture Payment Of Quarterly Transition Services | 1.3 | |||||
| Use of credit against payments, transition services | 0.3 | |||||
| Products | 8.5 | 28.3 | ||||
| Disposal Group, Including Discontinued Operation, Revenue | 24.8 | 80.7 | ||||
| Cost of sales | ||||||
| Services | 15.1 | 43.0 | ||||
| Products | 6.9 | 21.7 | ||||
| Disposal Group, Including Discontinued Operations, Cost Of Goods And Services Sold | 22.0 | 64.7 | ||||
| Gross profit | 2.8 | 16.0 | ||||
| Selling and administrative expense | 4.8 | 9.4 | ||||
| (Loss) income from discontinued operations before taxes | (2.0) | 6.6 | ||||
| Income tax (benefit) expense | (0.7) | 2.1 | ||||
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (1.3) | 4.5 | ||||
| Gain on sale of discontinued operations before taxes | 243.3 | 0.0 | ||||
| Income tax (benefit) expense | 94.2 | 0.0 | ||||
| Income from discontinued operations, net of tax | $ 147.8 | 4.5 | ||||
| Trade receivables, less allowances for doubtful accounts of $4.0 | 75.6 | |||||
| Inventories | 29.1 | |||||
| Prepaid expenses | 0.9 | |||||
| Other current assets | 5.0 | |||||
| Total current assets | 109.1 | |||||
| Property, plant and equipment, net | 5.2 | |||||
| Goodwill | 33.9 | |||||
| Assets held for sale | 148.2 | |||||
| LIABILITIES | ||||||
| Accounts payable | 24.8 | |||||
| Deferred revenue | 13.3 | |||||
| Payroll and other benefits liabilities | 6.6 | |||||
| Other current liabilities | 4.7 | |||||
| Total current liabilities | 49.4 | |||||
| VENEZUELA | ||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
| Impairment of assets | $ 1.0 | 10.3 | $ 9.3 | |||
| LIABILITIES | ||||||
| Allowance for Doubtful Accounts Receivable, Write-offs | $ 0.4 | |||||
| Devaluation of Venezuela balance sheet | $ 7.5 | |||||
| SIMADI [Member] | ||||||
| LIABILITIES | ||||||
| Foreign Currency Exchange Rate | 192.95 | |||||
| SICAD [Member] | ||||||
| LIABILITIES | ||||||
| Foreign Currency Exchange Rate | 50.86 | |||||