| Condensed Consolidating Financial Information |
Condensed Consolidating Financial Information The Company is providing unaudited condensed consolidating financial information for its domestic subsidiaries that have guaranteed the 7 1/8% Notes, and for those subsidiaries that have not guaranteed the 7 1/8% Notes. These 100% owned subsidiary guarantors (Aerojet Rocketdyne, Aerojet Rocketdyne of DE, Inc., Arde, Inc. and Arde-Barinco, Inc.) have, jointly and severally, fully and unconditionally guaranteed the 7 1/8% Notes subject to release under the following circumstances: (i) to enable the disposition of such property or assets to a party that is not the Company or a subsidiary guarantor to the extent permitted by and consummated in compliance with the indenture governing the 7 1/8% Notes; (ii) in case of a subsidiary guarantor that is released from its subsidiary guarantee, the release of the property and assets of such subsidiary guarantor; (iii) as permitted or required by the intercreditor agreement; (iv) with the consent of the holder of at least a majority in principal amount of the outstanding 7 1/8% Notes; or (v) when permitted or required by the indenture governing the 7 1/8% Notes. The subsidiary guarantees are a senior secured obligation of each subsidiary guarantor and rank (i) effectively junior to all of existing and future first-priority senior secured debt, including borrowings under the Senior Credit Facility, to the extent of the value of the assets securing such debt; (ii) effectively senior to all of the Company’s existing and future unsecured senior debt; (iii) senior in right of payment to all of the Company’s existing and future subordinated debt; and (iv) structurally subordinated to all existing and future liabilities of non-guarantor subsidiaries. The Company has not presented separate financial and narrative information for each of the subsidiary guarantors because it believes that such financial and narrative information would not provide investors with any additional information that would be material in evaluating the sufficiency of the guarantees. Therefore, the following unaudited condensed consolidating financial information summarizes the financial position, results of operations, and cash flows for the Company’s guarantor and non-guarantor subsidiaries.
Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income (Unaudited) | | | | | | | | | | | | | | | | | | | | | Three months ended March 31, 2016 | Parent | | Guarantor Subsidiaries | | Non-guarantor Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Net sales | $ | — |
| | $ | 348.5 |
| | $ | 8.4 |
| | $ | — |
| | $ | 356.9 |
| Cost of sales (exclusive of items shown separately below) | — |
| | 302.6 |
| | 7.3 |
| | (0.2 | ) | | 309.7 |
| Selling, general and administrative | 5.0 |
| | 6.1 |
| | 0.5 |
| | — |
| | 11.6 |
| Depreciation and amortization | — |
| | 14.9 |
| | 0.2 |
| | — |
| | 15.1 |
| Interest expense | 10.7 |
| | 0.4 |
| | — |
| | — |
| | 11.1 |
| Other, net | 1.6 |
| | (0.6 | ) | | (0.5 | ) | | 0.2 |
| | 0.7 |
| (Loss) income from continuing operations before income taxes | (17.3 | ) | | 25.1 |
| | 0.9 |
| | — |
| | 8.7 |
| Income tax (benefit) provision | (6.3 | ) | | 9.3 |
| | 0.5 |
| | — |
| | 3.5 |
| (Loss) income from continuing operations | (11.0 | ) | | 15.8 |
| | 0.4 |
| | — |
| | 5.2 |
| Loss from discontinued operations | (0.1 | ) | | — |
| | — |
| | — |
| | (0.1 | ) | (Loss) income before equity income of subsidiaries | (11.1 | ) | | 15.8 |
| | 0.4 |
| | — |
| | 5.1 |
| Equity income of subsidiaries | 16.2 |
| | — |
| | — |
| | (16.2 | ) | | — |
| Net income | $ | 5.1 |
| | $ | 15.8 |
| | $ | 0.4 |
| | $ | (16.2 | ) | | $ | 5.1 |
| Comprehensive income | $ | 14.2 |
| | $ | 22.5 |
| | $ | 0.4 |
| | $ | (22.9 | ) | | $ | 14.2 |
|
| | | | | | | | | | | | | | | | | | | | | Three months ended February 28, 2015, As Restated | Parent | | Guarantor Subsidiaries | | Non-guarantor Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Net sales | $ | — |
| | $ | 317.7 |
| | $ | 5.3 |
| | $ | — |
| | $ | 323.0 |
| Cost of sales (exclusive of items shown separately below) | — |
| | 281.7 |
| | 3.8 |
| | (0.1 | ) | | 285.4 |
| Selling, general and administrative | 9.3 |
| | 5.8 |
| | 0.5 |
| | — |
| | 15.6 |
| Depreciation and amortization | — |
| | 16.0 |
| | 0.3 |
| | — |
| | 16.3 |
| Interest expense | 12.9 |
| | 0.5 |
| | — |
| | — |
| | 13.4 |
| Other, net | 2.0 |
| | 0.2 |
| | (0.7 | ) | | 0.1 |
| | 1.6 |
| (Loss) income from continuing operations before income taxes | (24.2 | ) | | 13.5 |
| | 1.4 |
| | — |
| | (9.3 | ) | Income tax (benefit) provision | (9.1 | ) | | 3.1 |
| | 0.2 |
| | — |
| | (5.8 | ) | (Loss) income from continuing operations | (15.1 | ) | | 10.4 |
| | 1.2 |
| | — |
| | (3.5 | ) | Income from discontinued operations | 0.2 |
| | — |
| | — |
| | — |
| | 0.2 |
| (Loss) income before equity income of subsidiaries | (14.9 | ) | | 10.4 |
| | 1.2 |
| | — |
| | (3.3 | ) | Equity income of subsidiaries | 11.6 |
| | — |
| | — |
| | (11.6 | ) | | — |
| Net (loss) income | $ | (3.3 | ) | | $ | 10.4 |
| | $ | 1.2 |
| | $ | (11.6 | ) | | $ | (3.3 | ) | Comprehensive income | $ | 8.8 |
| | $ | 19.4 |
| | $ | 1.2 |
| | $ | (20.6 | ) | | $ | 8.8 |
|
| | | | | | | | | | | | | | | | | | | | | Three months ended February 28, 2015, As Reported | Parent | | Guarantor Subsidiaries | | Non-guarantor Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Net sales | $ | — |
| | $ | 313.3 |
| | $ | 5.3 |
| | $ | — |
| | $ | 318.6 |
| Cost of sales (exclusive of items shown separately below) | — |
| | 279.1 |
| | 3.8 |
| | (0.1 | ) | | 282.8 |
| Selling, general and administrative | 9.2 |
| | 5.8 |
| | 0.5 |
| | — |
| | 15.5 |
| Depreciation and amortization | — |
| | 15.7 |
| | 0.3 |
| | — |
| | 16.0 |
| Interest expense | 12.9 |
| | 0.5 |
| | — |
| | — |
| | 13.4 |
| Other, net | 2.0 |
| | 0.2 |
| | (0.7 | ) | | 0.1 |
| | 1.6 |
| (Loss) income from continuing operations before income taxes | (24.1 | ) | | 12.0 |
| | 1.4 |
| | — |
| | (10.7 | ) | Income tax (benefit) provision | (9.2 | ) | | 2.4 |
| | 0.2 |
| | — |
| | (6.6 | ) | (Loss) income from continuing operations | (14.9 | ) | | 9.6 |
| | 1.2 |
| | — |
| | (4.1 | ) | Income from discontinued operations | 0.2 |
| | — |
| | — |
| | — |
| | 0.2 |
| (Loss) income before equity income of subsidiaries | (14.7 | ) | | 9.6 |
| | 1.2 |
| | — |
| | (3.9 | ) | Equity income of subsidiaries | 10.8 |
| | — |
| | — |
| | (10.8 | ) | | — |
| Net (loss) income | $ | (3.9 | ) | | $ | 9.6 |
| | $ | 1.2 |
| | $ | (10.8 | ) | | $ | (3.9 | ) | Comprehensive income | $ | 8.3 |
| | $ | 18.7 |
| | $ | 1.2 |
| | $ | (19.9 | ) | | $ | 8.3 |
|
| | | | | | | | | | | | | | | | | | | | | One month ended December 31, 2015 | Parent | | Guarantor
Subsidiaries | | Non-guarantor
Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Net sales | $ | — |
| | $ | 94.3 |
| | $ | 2.0 |
| | $ | — |
| | $ | 96.3 |
| Cost of sales (exclusive of items shown separately below) | — |
| | 73.7 |
| | 1.8 |
| | (0.1 | ) | | 75.4 |
| Selling, general and administrative | 0.7 |
| | 1.9 |
| | 0.2 |
| | — |
| | 2.8 |
| Depreciation and amortization | — |
| | 5.0 |
| | 0.1 |
| | — |
| | 5.1 |
| Interest expense | 3.7 |
| | 0.1 |
| | — |
| | — |
| | 3.8 |
| Other, net | 2.3 |
| | (2.2 | ) | | — |
| | 0.1 |
| | 0.2 |
| (Loss) income from continuing operations before income taxes | (6.7 | ) | | 15.8 |
| | (0.1 | ) | | — |
| | 9.0 |
| Income tax (benefit) provision | (2.2 | ) | | 4.2 |
| | — |
| | — |
| | 2.0 |
| (Loss) income from continuing operations | (4.5 | ) | | 11.6 |
| | (0.1 | ) | | — |
| | 7.0 |
| Income from discontinued operations | — |
| | — |
| | — |
| | — |
| | — |
| (Loss) income before equity income of subsidiaries | (4.5 | ) | | 11.6 |
| | (0.1 | ) | | — |
| | 7.0 |
| Equity income of subsidiaries | 11.5 |
| | — |
| | — |
| | (11.5 | ) | | — |
| Net income (loss) | $ | 7.0 |
| | $ | 11.6 |
| | $ | (0.1 | ) | | $ | (11.5 | ) | | $ | 7.0 |
| Comprehensive income (loss) | $ | 1.7 |
| | $ | 7.5 |
| | $ | (0.1 | ) | | $ | (7.4 | ) | | $ | 1.7 |
|
Condensed Consolidating Balance Sheets (Unaudited) | | | | | | | | | | | | | | | | | | | | | March 31, 2016 | Parent | | Guarantor Subsidiaries | | Non-guarantor Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Cash and cash equivalents | $ | 155.4 |
| | $ | — |
| | $ | 0.3 |
| | $ | (0.2 | ) | | $ | 155.5 |
| Accounts receivable | — |
| | 179.0 |
| | 3.3 |
| | — |
| | 182.3 |
| Inventories | — |
| | 164.6 |
| | 6.0 |
| | — |
| | 170.6 |
| Recoverable from the U.S. government, Northrop, and other third parties for environmental remediation costs | — |
| | 33.1 |
| | — |
| | — |
| | 33.1 |
| Other current assets, net | 4.2 |
| | 65.7 |
| | 0.9 |
| | — |
| | 70.8 |
| Deferred income taxes | 5.5 |
| | 30.1 |
| | 1.1 |
| | — |
| | 36.7 |
| Total current assets | 165.1 |
| | 472.5 |
| | 11.6 |
| | (0.2 | ) | | 649.0 |
| Property, plant and equipment, net | 4.8 |
| | 349.0 |
| | 5.6 |
| | — |
| | 359.4 |
| Recoverable from the U.S. government and other third parties for environmental remediation costs | 0.7 |
| | 201.2 |
| | — |
| | — |
| | 201.9 |
| Deferred income taxes | 68.4 |
| | 200.6 |
| | 17.2 |
| | — |
| | 286.2 |
| Goodwill | — |
| | 158.1 |
| | — |
| | — |
| | 158.1 |
| Intercompany receivable | — |
| | 106.0 |
| | 33.4 |
| | (139.4 | ) | | — |
| Investments in subsidiaries | 573.8 |
| | — |
| | — |
| | (573.8 | ) | | — |
| Other noncurrent assets and intangibles, net | 19.1 |
| | 251.7 |
| | 62.6 |
| | — |
| | 333.4 |
| Total assets | $ | 831.9 |
| | $ | 1,739.1 |
| | $ | 130.4 |
| | $ | (713.4 | ) | | $ | 1,988.0 |
| Short-term borrowings and current portion of long-term debt, net | $ | 5.0 |
| | $ | 0.2 |
| | $ | — |
| | $ | — |
| | $ | 5.2 |
| Accounts payable | 0.8 |
| | 83.6 |
| | 2.5 |
| | (0.2 | ) | | 86.7 |
| Reserves for environmental remediation costs | 0.7 |
| | 36.4 |
| | — |
| | — |
| | 37.1 |
| Other current liabilities and advance payments on contracts | 23.4 |
| | 354.0 |
| | 3.9 |
| | — |
| | 381.3 |
| Postretirement medical and life insurance benefits | 4.6 |
| | 1.4 |
| | — |
| | — |
| | 6.0 |
| Total current liabilities | 34.5 |
| | 475.6 |
| | 6.4 |
| | (0.2 | ) | | 516.3 |
| Long-term debt, net | 620.4 |
| | — |
| | — |
| | — |
| | 620.4 |
| Reserves for environmental remediation costs | 3.7 |
| | 258.5 |
| | — |
| | — |
| | 262.2 |
| Pension benefits | 107.4 |
| | 467.6 |
| | — |
| | — |
| | 575.0 |
| Intercompany payable | 139.4 |
| | — |
| | — |
| | (139.4 | ) | | — |
| Postretirement medical and life insurance benefits | 31.8 |
| | 12.3 |
| | — |
| | — |
| | 44.1 |
| Other noncurrent liabilities | 18.7 |
| | 62.8 |
| | 12.5 |
| | — |
| | 94.0 |
| Total liabilities | 955.9 |
| | 1,276.8 |
| | 18.9 |
| | (139.6 | ) | | 2,112.0 |
| Commitments and contingencies (Note 7) |
| |
| |
| |
| |
| Redeemable common stock | 1.3 |
| | — |
| | — |
| | — |
| | 1.3 |
| Total stockholders’ (deficit) equity | (125.3 | ) | | 462.3 |
| | 111.5 |
| | (573.8 | ) | | (125.3 | ) | Total liabilities, redeemable common stock, and stockholders’ (deficit) equity | $ | 831.9 |
| | $ | 1,739.1 |
| | $ | 130.4 |
| | $ | (713.4 | ) | | $ | 1,988.0 |
|
| | | | | | | | | | | | | | | | | | | | | December 31, 2015 | Parent | | Guarantor Subsidiaries | | Non-guarantor Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Cash and cash equivalents | $ | 215.2 |
| | $ | — |
| | $ | — |
| | $ | (6.7 | ) | | $ | 208.5 |
| Accounts receivable | — |
| | 166.2 |
| | 3.3 |
| | — |
| | 169.5 |
| Inventories | — |
| | 148.4 |
| | 7.8 |
| | — |
| | 156.2 |
| Recoverable from the U.S. government, Northrop, and other third parties for environmental remediation costs | — |
| | 30.0 |
| | — |
| | — |
| | 30.0 |
| Other current assets, net | 4.2 |
| | 64.2 |
| | 0.8 |
| | — |
| | 69.2 |
| Deferred income taxes | 5.5 |
| | 29.8 |
| | 1.2 |
| | — |
| | 36.5 |
| Total current assets | 224.9 |
| | 438.6 |
| | 13.1 |
| | (6.7 | ) | | 669.9 |
| Property, plant and equipment, net | 4.7 |
| | 352.8 |
| | 5.8 |
| | — |
| | 363.3 |
| Recoverable from the U.S. government and other third parties for environmental remediation costs | 0.7 |
| | 206.5 |
| | — |
| | — |
| | 207.2 |
| Deferred income taxes | 66.5 |
| | 204.7 |
| | 17.1 |
| | — |
| | 288.3 |
| Goodwill | — |
| | 158.1 |
| | — |
| | — |
| | 158.1 |
| Intercompany receivable | — |
| | 138.4 |
| | 30.9 |
| | (169.3 | ) | | — |
| Investments in subsidiaries | 550.6 |
| | — |
| | — |
| | (550.6 | ) | | — |
| Other noncurrent assets and intangibles, net | 19.3 |
| | 257.9 |
| | 61.5 |
| | — |
| | 338.7 |
| Total assets | $ | 866.7 |
| | $ | 1,757.0 |
| | $ | 128.4 |
| | $ | (726.6 | ) | | $ | 2,025.5 |
| Short-term borrowings and current portion of long-term debt, net | $ | 5.0 |
| | $ | 0.3 |
| | $ | — |
| | $ | — |
| | $ | 5.3 |
| Accounts payable | 1.1 |
| | 67.6 |
| | 2.2 |
| | (6.7 | ) | | 64.2 |
| Reserves for environmental remediation costs | 0.7 |
| | 31.9 |
| | — |
| | — |
| | 32.6 |
| Other current liabilities and advance payments on contracts | 30.5 |
| | 400.3 |
| | 3.2 |
| | — |
| | 434.0 |
| Postretirement medical and life insurance benefits | 4.6 |
| | 1.4 |
| | — |
| | — |
| | 6.0 |
| Total current liabilities | 41.9 |
| | 501.5 |
| | 5.4 |
| | (6.7 | ) | | 542.1 |
| Long-term debt, net | 633.7 |
| | — |
| | — |
| | — |
| | 633.7 |
| Reserves for environmental remediation costs | 4.4 |
| | 265.3 |
| | — |
| | — |
| | 269.7 |
| Pension benefits | 106.8 |
| | 473.8 |
| | — |
| | — |
| | 580.6 |
| Intercompany payable | 169.3 |
| | — |
| | — |
| | (169.3 | ) | | — |
| Postretirement medical and life insurance benefits | 32.4 |
| | 12.4 |
| | — |
| | — |
| | 44.8 |
| Other noncurrent liabilities | 18.8 |
| | 64.0 |
| | 12.4 |
| | — |
| | 95.2 |
| Total liabilities | 1,007.3 |
| | 1,317.0 |
| | 17.8 |
| | (176.0 | ) | | 2,166.1 |
| Commitments and contingencies (Note 7) |
| |
| |
| |
| |
| Redeemable common stock | 1.6 |
| | — |
| | — |
| | — |
| | 1.6 |
| Total stockholders’ (deficit) equity | (142.2 | ) | | 440.0 |
| | 110.6 |
| | (550.6 | ) | | (142.2 | ) | Total liabilities, redeemable common stock, and stockholders’ (deficit) equity | $ | 866.7 |
| | $ | 1,757.0 |
| | $ | 128.4 |
| | $ | (726.6 | ) | | $ | 2,025.5 |
|
| | | | | | | | | | | | | | | | | | | | | November 30, 2015 | Parent | | Guarantor Subsidiaries | | Non-guarantor Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Cash and cash equivalents | $ | 221.9 |
| | $ | — |
| | $ | — |
| | $ | (10.8 | ) | | $ | 211.1 |
| Accounts receivable | — |
| | 167.4 |
| | 4.1 |
| | — |
| | 171.5 |
| Inventories | — |
| | 150.8 |
| | 6.7 |
| | — |
| | 157.5 |
| Recoverable from the U.S. government, Northrop, and other third parties for environmental remediation costs | — |
| | 30.0 |
| | — |
| | — |
| | 30.0 |
| Other current assets, net | 3.1 |
| | 57.5 |
| | 0.9 |
| | — |
| | 61.5 |
| Income taxes | 44.2 |
| | 0.3 |
| | — |
| | (41.6 | ) | | 2.9 |
| Deferred income taxes | 6.5 |
| | 20.4 |
| | 1.2 |
| | — |
| | 28.1 |
| Total current assets | 275.7 |
| | 426.4 |
| | 12.9 |
| | (52.4 | ) | | 662.6 |
| Property, plant and equipment, net | 4.7 |
| | 355.3 |
| | 5.8 |
| | — |
| | 365.8 |
| Recoverable from the U.S. government and other third parties for environmental remediation costs | 0.7 |
| | 209.7 |
| | — |
| | — |
| | 210.4 |
| Deferred income taxes | 66.2 |
| | 203.4 |
| | 17.1 |
| | — |
| | 286.7 |
| Goodwill | — |
| | 158.1 |
| | — |
| | — |
| | 158.1 |
| Intercompany receivable | — |
| | 192.9 |
| | 34.5 |
| | (227.4 | ) | | — |
| Investments in subsidiaries | 543.2 |
| | — |
| | — |
| | (543.2 | ) | | — |
| Other noncurrent assets and intangibles, net | 19.8 |
| | 258.6 |
| | 61.3 |
| | — |
| | 339.7 |
| Total assets | $ | 910.3 |
| | $ | 1,804.4 |
| | $ | 131.6 |
| | $ | (823.0 | ) | | $ | 2,023.3 |
| Short-term borrowings and current portion of long-term debt, net | $ | 5.0 |
| | $ | 0.3 |
| | $ | — |
| | $ | — |
| | $ | 5.3 |
| Accounts payable | 1.0 |
| | 112.9 |
| | 2.1 |
| | (10.8 | ) | | 105.2 |
| Reserves for environmental remediation costs | 0.7 |
| | 31.9 |
| | — |
| | — |
| | 32.6 |
| Postretirement medical and life insurance benefits | 4.6 |
| | 1.4 |
| | — |
| | — |
| | 6.0 |
| Other current liabilities and advance payments on contracts | 26.8 |
| | 413.4 |
| | 6.4 |
| | (41.6 | ) | | 405.0 |
| Total current liabilities | 38.1 |
| | 559.9 |
| | 8.5 |
| | (52.4 | ) | | 554.1 |
| Long-term debt, net | 635.0 |
| | 0.1 |
| | — |
| | — |
| | 635.1 |
| Reserves for environmental remediation costs | 4.5 |
| | 269.0 |
| | — |
| | — |
| | 273.5 |
| Pension benefits | 98.8 |
| | 467.4 |
| | — |
| | — |
| | 566.2 |
| Intercompany payable | 227.4 |
| | — |
| | — |
| | (227.4 | ) | | — |
| Postretirement medical and life insurance benefits | 32.9 |
| | 12.6 |
| | — |
| | — |
| | 45.5 |
| Other noncurrent liabilities | 19.1 |
| | 62.6 |
| | 12.7 |
| | — |
| | 94.4 |
| Total liabilities | 1,055.8 |
| | 1,371.6 |
| | 21.2 |
| | (279.8 | ) | | 2,168.8 |
| Commitments and contingencies (Note 7) | | | | | | | | | | Redeemable common stock | 0.9 |
| | — |
| | — |
| | — |
| | 0.9 |
| Total stockholders’ (deficit) equity | (146.4 | ) | | 432.8 |
| | 110.4 |
| | (543.2 | ) | | (146.4 | ) | Total liabilities, redeemable common stock, and stockholders’ (deficit) equity | $ | 910.3 |
| | $ | 1,804.4 |
| | $ | 131.6 |
| | $ | (823.0 | ) | | $ | 2,023.3 |
|
Condensed Consolidating Statements of Cash Flows (Unaudited) | | | | | | | | | | | | | | | | | | | | | Three months ended March 31, 2016 | Parent | | Guarantor Subsidiaries | | Non-guarantor Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Net cash (used in) provided by operating activities | $ | (16.4 | ) | | $ | (24.6 | ) | | $ | 2.8 |
| | $ | 6.5 |
| | $ | (31.7 | ) | Cash flows from investing activities: | | | | | | | | | | Capital expenditures | — |
| | (7.7 | ) | | — |
| | — |
| | (7.7 | ) | Net cash used in investing activities | — |
| | (7.7 | ) | | — |
| | — |
| | (7.7 | ) | Cash flows from financing activities: | | | | | | | | | | Debt repayments | (14.3 | ) | | (0.1 | ) | | — |
| | — |
| | (14.4 | ) | Net transfers from (to) parent | (29.9 | ) | | 32.4 |
| | (2.5 | ) | | — |
| | — |
| Other financing activities | 0.8 |
| | — |
| | — |
| | — |
| | 0.8 |
| Net cash (used in) provided by financing activities | (43.4 | ) | | 32.3 |
| | (2.5 | ) | | — |
| | (13.6 | ) | Net (decrease) increase in cash and cash equivalents | (59.8 | ) | | — |
| | 0.3 |
| | 6.5 |
| | (53.0 | ) | Cash and cash equivalents at beginning of year | 215.2 |
| | — |
| | — |
| | (6.7 | ) | | 208.5 |
| Cash and cash equivalents at end of period | $ | 155.4 |
| | $ | — |
| | $ | 0.3 |
| | $ | (0.2 | ) | | $ | 155.5 |
|
| | | | | | | | | | | | | | | | | | | | | One month ended December 31, 2015 | Parent | | Guarantor Subsidiaries | | Non-guarantor Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Net cash provided by (used in) operating activities | $ | 50.5 |
| | $ | (53.3 | ) | | $ | (3.6 | ) | | $ | 4.1 |
| | $ | (2.3 | ) | Cash flows from investing activities: | | | | | | | | | | Capital expenditures | — |
| | (1.2 | ) | | — |
| | — |
| | (1.2 | ) | Net cash used in investing activities | — |
| | (1.2 | ) | | — |
| | — |
| | (1.2 | ) | Cash flows from financing activities: | | | | | | | | | | Debt repayments | (1.3 | ) | | — |
| | — |
| | — |
| | (1.3 | ) | Net transfers (to) from parent | (58.1 | ) | | 54.5 |
| | 3.6 |
| | — |
| | — |
| Other financing activities | 2.2 |
| | — |
| | — |
| | — |
| | 2.2 |
| Net cash (used in) provided by financing activities | (57.2 | ) | | 54.5 |
| | 3.6 |
| | — |
| | 0.9 |
| Net (decrease) increase in cash and cash equivalents | (6.7 | ) | | — |
| | — |
| | 4.1 |
| | (2.6 | ) | Cash and cash equivalents at beginning of year | 221.9 |
| | — |
| | — |
| | (10.8 | ) | | 211.1 |
| Cash and cash equivalents at end of period | $ | 215.2 |
| | $ | — |
| | $ | — |
| | $ | (6.7 | ) | | $ | 208.5 |
|
| | | | | | | | | | | | | | | | | | | | | Three months ended February 28, 2015 | Parent | | Guarantor Subsidiaries | | Non-guarantor Subsidiaries | | Eliminations | | Consolidated | | (In millions) | Net cash provided by (used in) operating activities | $ | 21.3 |
| | $ | (60.2 | ) | | $ | (1.7 | ) | | $ | 5.0 |
| | $ | (35.6 | ) | Cash flows from investing activities: | | | | | | | | | | Capital expenditures | — |
| | (4.3 | ) | | — |
| | — |
| | (4.3 | ) | Net cash used in investing activities | — |
| | (4.3 | ) | | — |
| | — |
| | (4.3 | ) | Cash flows from financing activities: | | | | | | | | | | Debt repayments | (9.2 | ) | | (0.1 | ) | | — |
| | — |
| | (9.3 | ) | Net transfers (to) from parent | (66.8 | ) | | 64.6 |
| | 2.2 |
| | — |
| | — |
| Other financing activities | (1.0 | ) | | — |
| | — |
| | — |
| | (1.0 | ) | Net cash (used in) provided by financing activities | (77.0 | ) | | 64.5 |
| | 2.2 |
| | — |
| | (10.3 | ) | Net (decrease) increase in cash and cash equivalents | (55.7 | ) | | — |
| | 0.5 |
| | 5.0 |
| | (50.2 | ) | Cash and cash equivalents at beginning of year | 271.6 |
| | — |
| | — |
| | (5.7 | ) | | 265.9 |
| Cash and cash equivalents at end of period | $ | 215.9 |
| | $ | — |
| | $ | 0.5 |
| | $ | (0.7 | ) | | $ | 215.7 |
|
|