XML 45 R31.htm IDEA: XBRL DOCUMENT v3.6.0.2
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]  
Summary of Future Minimum Rental Commitments Under Non-Cancelable Operating Leases
The future minimum rental commitments under non-cancelable operating leases with initial or remaining terms of one year or more and lease revenue in effect as of December 31, 2016 were as follows:
 
Year Ending December 31,
Future Minimum
Rental Commitments 
 
Future Minimum
Rental Income 
 
(In millions)
2017
$
17.4

 
$
4.4

2018
15.2

 
4.0

2019
14.0

 
1.8

2020
12.6

 

2021
12.4

 

Thereafter
40.3

 

 
$
111.9

 
$
10.2

Summary of Environmental Reserve Activity
A summary of the Company’s environmental reserve activity:

Aerojet
Rocketdyne-
Sacramento

Aerojet
Rocketdyne-
BPOU

Other
Aerojet
Rocketdyne
Sites

Total
Aerojet
Rocketdyne

Other (1)

Total
Environmental
Reserve
 
(In millions)
November 30, 2013
$
128.0

 
$
26.9

 
$
8.2

 
$
163.1

 
$
8.2

 
$
171.3

Additions
24.0

 
4.5

 
3.3

 
31.8

 
1.9

 
33.7

Expenditures
(21.6
)
 
(9.7
)
 
(3.4
)
 
(34.7
)
 
(4.3
)
 
(39.0
)
November 30, 2014
130.4

 
21.7

 
8.1

 
160.2

 
5.8

 
166.0

Additions
44.3

 
129.7

 
2.0

 
176.0

 
0.6

 
176.6

Expenditures
(21.7
)
 
(11.3
)
 
(2.3
)
 
(35.3
)
 
(1.2
)
 
(36.5
)
November 30, 2015
153.0


140.1

 
7.8

 
300.9

 
5.2

 
306.1

Additions
0.5

 

 

 
0.5

 

 
0.5

Expenditures
(0.9
)
 
(3.4
)
 

 
(4.3
)
 

 
(4.3
)
December 31, 2015
152.6

 
136.7

 
7.8

 
297.1

 
5.2

 
302.3

Additions
80.0


3.5

 
3.9

 
87.4

 

 
87.4

Expenditures
(22.5
)

(13.4
)
 
(3.2
)
 
(39.1
)
 
(0.9
)
 
(40.0
)
December 31, 2016
$
210.1


$
126.8

 
$
8.5


$
345.4


$
4.3


$
349.7

_____
(1) Related to the Company's legacy business operations that are primarily non-recoverable environmental remediation expenses from the U.S. government.
Summary of Pre-Close Environmental Costs
A summary of the Pre-Close Environmental Costs (in millions):
Pre-Close Environmental Costs
$
20.0

Amount spent through December 31, 2016
(19.9
)
Remaining Pre-Close Environmental Costs
$
0.1

Summary of Northrop Agreement Activity
A summary of the Northrop Agreement activity (in millions):
Total reimbursable costs under the Northrop Agreement
$
189.7

Amount reimbursed through December 31, 2016
(119.2
)
Potential future cost reimbursements available
70.5

Receivable from Northrop in excess of the annual limitation included in the consolidated balance sheet as of December 31, 2016
(68.0
)
Potential future recoverable amounts available under the Northrop Agreement
$
2.5

Schedule of Environmental Reserves and Recoveries
Summarized financial information for the impact of environmental reserves and recoveries to the consolidated statements of operations were as follows:
 
Year Ended
 
One month ended
 
December 31,
 
November 30,
 
November 30,
 
December 31,
 
2016
 
2015
 
2014
 
2015
 
(In millions)
Estimated recoverable amounts under U.S. government contracts and Northrop
$
69.1

 
$
159.3

 
$
22.9

 
$
0.6

Expense (benefit) to consolidated statement of operations
18.3

 
17.3

 
10.8

 
(0.1
)
Total environmental reserve adjustments
$
87.4

 
$
176.6

 
$
33.7

 
$
0.5