The following tables summarize the effect of adoption of the new revenue recognition standard on the Company’s unaudited Condensed Consolidated Financial Statements as of and for the three months ended March 31, 2018.

Condensed Consolidated Statement of Operations

(Unaudited)



	Three months ended March 31, 2018
	As Reported			Effect of Adoption			Amounts Excluding Effect of Adoption
	(In millions, except per share amounts)
Net sales	$	492.0		$	(22.6	)	$	469.4
Operating costs and expenses:
Cost of sales (exclusive of items shown separately below)	426.8			(14.7		)	412.1
Selling, general and administrative expense	6.7			—			6.7
Depreciation and amortization	17.7			—			17.7
Other expense, net	1.2			—			1.2
Total operating costs and expenses	452.4			(14.7		)	437.7
Operating income	39.6			(7.9		)	31.7
Non-operating (income) expense:
Retirement benefits expense	14.4			—			14.4
Interest income	(1.6		)	—			(1.6		)
Interest expense	8.1			—			8.1
Total non-operating expense, net	20.9			—			20.9
Income before income taxes	18.7			(7.9		)	10.8
Income tax provision	4.7			(2.0		)	2.7
Net income	$	14.0		$	(5.9	)	$	8.1
Earnings Per Share of Common Stock
Basic
Basic net income per share	$	0.19		$	(0.08	)	$	0.11
Diluted
Diluted net income per share	$	0.18		$	(0.07	)	$	0.11
Weighted average shares of common stock outstanding, basic	73.7			—			73.7
Weighted average shares of common stock outstanding, diluted	74.7			—			74.7

Condensed Consolidated Statement of Comprehensive Income

(Unaudited)



	Three months ended March 31, 2018
	As Reported		Effect of Adoption			Amounts Excluding Effect of Adoption
	(In millions)
Net income	$	14.0	$	(5.9	)	$	8.1
Other comprehensive income:
Amortization of actuarial losses and prior service credits, net of income taxes	12.5		—			12.5
Comprehensive income	$	26.5	$	(5.9	)	$	20.6

Condensed Consolidated Balance Sheet

(Unaudited)



	As of March 31, 2018
	As Reported			Effect of Adoption			Amounts Excluding Effect of Adoption
	(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$	432.8		$	—		$	432.8
Marketable securities	20.0			—			20.0
Accounts receivable	170.1			(81.2		)	88.9
Contract assets	266.0			36.1			302.1
Other current assets, net	156.7			(10.9		)	145.8
Total Current Assets	1,045.6			(56.0		)	989.6
Noncurrent Assets
Property, plant and equipment, net	352.8			—			352.8
Recoverable environmental remediation costs	228.1			—			228.1
Deferred income taxes	253.1			(118.5		)	134.6
Goodwill	161.3			—			161.3
Intangible assets	82.1			—			82.1
Other noncurrent assets, net	262.9			—			262.9
Total Noncurrent Assets	1,340.3			(118.5		)	1,221.8
Total Assets	$	2,385.9		$	(174.5	)	$	2,211.4
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt	$	27.7		$	—		$	27.7
Accounts payable	133.4			—			133.4
Reserves for environmental remediation costs	36.4			—			36.4
Contract liabilities	212.6			0.5			213.1
Other current liabilities	267.6			(131.5		)	136.1
Total Current Liabilities	677.7			(131.0		)	546.7
Total Noncurrent Liabilities	1,539.0			—			1,539.0
Total Liabilities	2,216.7			(131.0		)	2,085.7
Stockholders’ Equity
Common stock	7.4			—			7.4
Other capital	505.8			—			505.8
Treasury stock at cost	(64.5		)	—			(64.5		)
Accumulated deficit	(19.4		)	(43.5		)	(62.9		)
Accumulated other comprehensive loss, net of income taxes	(260.1		)	—			(260.1		)
Total Stockholders’ Equity	169.2			(43.5		)	125.7
Total Liabilities and Stockholders’ Equity	$	2,385.9		$	(174.5	)	$	2,211.4

Condensed Consolidated Statement of Cash Flows

(Unaudited)



	Three months ended March 31, 2018
	As Reported			Effect of Adoption			Amounts Excluding Effect of Adoption
	(In millions)
Operating Activities
Net income	$	14.0		$	(5.9	)	$	8.1
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	17.7			—			17.7
Amortization of debt discount and deferred financing costs	2.1			—			2.1
Stock-based compensation	1.5			—			1.5
Retirement benefits, net	3.3			—			3.3
Insurance proceeds	(1.9		)	—			(1.9		)
Changes in assets and liabilities:
Accounts receivable	(76.2		)	51.7			(24.5		)
Contract assets	(20.4		)	(13.6		)	(34.0		)
Other current assets, net	(17.4		)	0.8			(16.6		)
Recoverable environmental remediation costs	3.0			—			3.0
Other noncurrent assets	(3.9		)	—			(3.9		)
Accounts payable	29.8			—			29.8
Contract liabilities	(30.8		)	(32.8		)	(63.6		)
Other current liabilities	(21.9		)	1.8			(20.1		)
Deferred income taxes	9.0			(2.0		)	7.0
Reserves for environmental remediation costs	(3.0		)	—			(3.0		)
Other noncurrent liabilities and other	(0.3		)	—			(0.3		)
Net Cash Used in Operating Activities	(95.4		)	—			(95.4		)
Investing Activities
Insurance proceeds	1.9			—			1.9
Capital expenditures	(4.1		)	—			(4.1		)
Net Cash Used in Investing Activities	(2.2		)	—			(2.2		)
Financing Activities
Debt repayments	(5.1		)	—			(5.1		)
Repurchase of shares for withholding taxes and option costs under employee equity plans	(1.6		)	—			(1.6		)
Proceeds from shares issued under equity plans	2.1			—			2.1
Net Cash Used in Financing Activities	(4.6		)	—			(4.6		)
Net Decrease in Cash and Cash Equivalents	(102.2		)	—			(102.2		)
Cash and Cash Equivalents at Beginning of Period	535.0			—			535.0
Cash and Cash Equivalents at End of Period	$	432.8		$	—		$	432.8

The following table summarizes the reclassifications to the December 31, 2017, balance sheet to conform to the current year’s presentation.



	As Reported		Reclassifications due to Adoption			As Adjusted
	(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$	535.0	$	—		$	535.0
Marketable securities	20.0		—			20.0
Accounts receivable	215.5		(151.0		)	64.5
Inventories	136.4		(136.4		)	—
Contract assets	—		268.1			268.1
Other current assets, net	109.8		19.3			129.1
Total Current Assets	1,016.7		—			1,016.7
Total Noncurrent Assets	1,242.0		—			1,242.0
Total Assets	$	2,258.7	$	—		$	2,258.7
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt	$	25.0	$	—		$	25.0
Accounts payable	100.9		—			100.9
Reserves for environmental remediation costs	35.2		—			35.2
Contract liabilities	—		276.8			276.8
Advance payments on contracts	237.8		(237.8		)	—
Other current liabilities	195.9		(39.0		)	156.9
Total Current Liabilities	594.8		—			594.8
Total Noncurrent Liabilities	1,561.5		—			1,561.5
Total Liabilities	2,156.3		—			2,156.3
Stockholders’ Equity
Total Stockholders’ Equity	102.4		—			102.4
Total Liabilities and Stockholders’ Equity	$	2,258.7	$	—		$	2,258.7

The following table summarizes the reclassifications to the first three months ended March 31, 2017, statement of cash flows to conform to the current year’s presentation.



	As Reported			Reclassifications due to Adoption			As Adjusted
	(In millions)
Operating Activities
Net income	$	5.9		$	—		$	5.9
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	16.3			—			16.3
Amortization of debt discount and deferred financing costs	2.1			—			2.1
Stock-based compensation	6.8			—			6.8
Retirement benefits, net	7.7			—			7.7
Loss on disposal of long-lived assets	0.1			—			0.1
Changes in assets and liabilities, net of effects from acquisition in 2017:				—
Accounts receivable	(54.3		)	24.2			(30.1		)
Inventories	24.7			(24.7		)	—
Contract assets	—			2.3			2.3
Other current assets, net	(4.4		)	(1.8		)	(6.2		)
Recoverable environmental remediation costs	4.1			—			4.1
Other noncurrent assets	(3.4		)	—			(3.4		)
Accounts payable	1.1			—			1.1
Contract liabilities	—			(16.0		)	(16.0		)
Advance payments on contracts	(13.2		)	13.2			—
Other current liabilities	4.9			2.8			7.7
Deferred income taxes	2.3			—			2.3
Reserves for environmental remediation costs	(4.2		)	—			(4.2		)
Other noncurrent liabilities and other	0.4			—			0.4
Net Cash Used in Operating Activities	(3.1		)	—			(3.1		)
Investing Activities
Net Cash Used in Investing Activities	(17.7		)	—			(17.7		)
Financing Activities
Net Cash Used in Financing Activities	(7.4		)	—			(7.4		)
Net Decrease in Cash and Cash Equivalents	(28.2		)	—			(28.2		)
Cash and Cash Equivalents at Beginning of Period	410.3			—			410.3
Cash and Cash Equivalents at End of Period	$	382.1		$	—		$	382.1