Condensed Consolidating Financial Information (Tables)

12 Months Ended

Nov. 30, 2013

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Consolidating Statements of Operations

Condensed Consolidating Statements of Operations

November 30, 2013 (In millions):	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,354.7		$	28.4		$	—		$	1,383.1
Cost of sales (exclusive of items shown separately below)		—			1,206.3			23.9			(0.6	)		1,229.6
Selling, general and administrative		31.1			21.2			1.3			—			53.6
Depreciation and amortization		0.1			42.6			1.1			—			43.8
Interest expense		46.2			2.5			—			—			48.7
Other, net		32.8			2.8			(2.6	)		0.6			33.6
(Loss) income from continuing operations before income taxes		(110.2	)		79.3			4.7			—			(26.2	)
Income tax benefit		(81.8	)		(101.8	)		(10.3	)		—			(193.9	)
(Loss) income from continuing operations		(28.4	)		181.1			15.0			—			167.7
Income from discontinued operations		0.2			—			—			—			0.2
(Loss) income before equity income of subsidiaries		(28.2	)		181.1			15.0			—			167.9
Equity income of subsidiaries		196.1			—			—			(196.1	)		—
Net income	$	167.9		$	181.1		$	15.0		$	(196.1	)	$	167.9
Comprehensive income	$	431.8		$	375.7		$	15.0		$	(390.7	)	$	431.8

November 30, 2012 (In millions):	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries		Eliminations			Consolidated
Net sales	$	—		$	962.0		$	32.9	$	—		$	994.9
Cost of sales (exclusive of items shown separately below)		—			844.2			26.0		(0.6	)		869.6
Selling, general and administrative		26.4			14.6			0.9		—			41.9
Depreciation and amortization		0.1			21.1			1.1		—			22.3
Interest expense		18.7			3.6			—		—			22.3
Other, net		26.7			(4.3	)		2.6		0.6			25.6
(Loss) income from continuing operations before income taxes		(71.9	)		82.8			2.3		—			13.2
Income tax (benefit) provision		(16.9	)		34.4			1.4		—			18.9
(Loss) income from continuing operations		(55.0	)		48.4			0.9		—			(5.7	)
Income from discontinued operations		3.1			—			—		—			3.1
(Loss) income before equity income of subsidiaries		(51.9	)		48.4			0.9		—			(2.6	)
Equity income of subsidiaries		49.3			—			—		(49.3	)		—
Net (loss) income	$	(2.6	)	$	48.4		$	0.9	$	(49.3	)	$	(2.6	)
Comprehensive (loss) income	$	(189.5	)	$	(119.5	)	$	0.9	$	118.6		$	(189.5	)

November 30, 2011 (In millions):	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	885.0		$	33.1		$	—		$	918.1
Cost of sales (exclusive of items shown separately below)		—			774.8			25.0			(0.5	)		799.3
Selling, general and administrative		27.1			12.9			0.9			—			40.9
Depreciation and amortization		0.1			23.5			1.0			—			24.6
Interest expense		25.6			5.2			—			—			30.8
Other, net		11.9			(1.5	)		2.6			0.5			13.5
(Loss) income from continuing operations before income taxes		(64.7	)		70.1			3.6			—			9.0
Income tax (benefit) provision		(25.5	)		39.8			(8.2	)		—			6.1
(Loss) income from continuing operations		(39.2	)		30.3			11.8			—			2.9
Income from discontinued operations		—			—			—			—			—
(Loss) income before equity income of subsidiaries		(39.2	)		30.3			11.8			—			2.9
Equity income of subsidiaries		42.1			—			—			(42.1	)		—
Net income	$	2.9		$	30.3		$	11.8		$	(42.1	)	$	2.9
Comprehensive (loss) income	$	(15.3	)	$	4.1		$	11.8		$	(15.9	)	$	(15.3	)

Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheets

November 30, 2013 (In millions):	Parent		Guarantor Subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
Cash and cash equivalents	$	192.7	$	4.9	$	—	$	—		$	197.6
Accounts receivable		—		211.4		2.7		—			214.1
Inventories		—		100.5		5.4		—			105.9
Recoverable from the U.S. government, Northrop, and other third parties for environmental remediation costs		0.4		26.0		—		—			26.4
Other receivables, prepaid expenses and other		2.6		18.8		1.0		—			22.4
Income taxes		30.1		—		—		(17.5	)		12.6
Deferred income taxes		10.9		4.9		1.2		—			17.0
Total current assets		236.7		366.5		10.3		(17.5	)		596.0
Property, plant and equipment, net		4.7		364.4		5.6		—			374.7
Recoverable from the U.S. government and other third parties for environmental remediation costs		0.4		88.3		—		—			88.7
Deferred income taxes		48.8		107.2		19.7		—			175.7
Goodwill		—		159.6		—		—			159.6
Intercompany receivable		71.5		—		32.2		(103.7	)		—
Investments in subsidiaries		534.5		—		—		(534.5	)		—
Other noncurrent assets and intangibles, net		27.7		289.0		43.9		—			360.6
Total assets	$	924.3	$	1,375.0	$	111.7	$	(655.7	)	$	1,755.3
Short-term borrowings and current portion of long-term debt	$	2.7	$	0.2	$	—	$	—		$	2.9
Accounts payable		2.2		119.1		1.2		—			122.5
Reserves for environmental remediation costs		3.8		32.8		—		—			36.6
Income taxes payable		—		16.9		0.6		(17.5	)		—
Other current liabilities, advance payments on contracts, and postretirement medical and life insurance benefits		85.2		229.7		2.8		—			317.7
Total current liabilities		93.9		398.7		4.6		(17.5	)		479.7
Long-term debt		695.7		0.6		—		—			696.3
Reserves for environmental remediation costs		4.3		130.4		—		—			134.7
Pension benefits		23.6		238.1		—		—			261.7
Intercompany payable		—		103.7		—		(103.7	)		—
Other noncurrent liabilities		57.0		64.6		11.5		—			133.1
Total liabilities		874.5		936.1		16.1		(121.2	)		1,705.5
Commitments and contingencies (Note 8)
Redeemable common stock (Note 9)		0.2		—		—		—			0.2
Total shareholders’ equity		49.6		438.9		95.6		(534.5	)		49.6
Total liabilities, redeemable common stock, and shareholders’ equity	$	924.3	$	1,375.0	$	111.7	$	(655.7	)	$	1,755.3

November 30, 2012 (In millions):	Parent			Guarantor Subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
Cash and cash equivalents	$	172.4		$	—	$	—	$	(10.3	)	$	162.1
Accounts receivable		—			109.7		1.8		—			111.5
Inventories		—			40.5		6.4		—			46.9
Recoverable from the U.S. government, Northrop, and other third parties for environmental remediation costs		0.1			28.2		—		—			28.3
Other receivables, prepaid expenses and other		7.0			9.1		0.7		—			16.8
Income taxes		28.8			—		—		(26.3	)		2.5
Total current assets		208.3			187.5		8.9		(36.6	)		368.1
Property, plant and equipment, net		4.7			133.8		5.4		—			143.9
Recoverable from the U.S. government and other third parties for environmental remediation costs		0.7			107.2		—		—			107.9
Goodwill		—			94.9		—		—			94.9
Intercompany receivable		—			308.5		30.5		(339.0	)		—
Investments in subsidiaries		143.1			—		—		(143.1	)		—
Other noncurrent assets and intangibles, net		17.6			146.3		40.6		—			204.5
Total assets	$	374.4		$	978.2	$	85.4	$	(518.7	)	$	919.3
Short-term borrowings and current portion of long-term debt	$	2.4		$	0.3	$	—	$	—		$	2.7
Accounts payable		3.1			61.8		1.5		(10.3	)		56.1
Reserves for environmental remediation costs		3.5			36.0		—		—			39.5
Income taxes payable		—			25.4		0.9		(26.3	)		—
Other current liabilities, advance payments on contracts, and postretirement medical and life insurance benefits		28.1			190.6		1.6		—			220.3
Total current liabilities		37.1			314.1		4.0		(36.6	)		318.6
Long-term debt		245.3			0.7		—		—			246.0
Reserves for environmental remediation costs		3.6			146.4		—		—			150.0
Pension benefits		70.8			383.7		—		—			454.5
Intercompany payable		339.0			—		—		(339.0	)		—
Other noncurrent liabilities		67.4			70.4		1.2		—			139.0
Total liabilities		763.2			915.3		5.2		(375.6	)		1,308.1
Commitments and contingencies (Note 8)
Redeemable common stock (Note 9)		3.9			—		—		—			3.9
Total shareholders’ (deficit) equity		(392.7	)		62.9		80.2		(143.1	)		(392.7	)
Total liabilities, redeemable common stock, and shareholders’ equity (deficit)	$	374.4		$	978.2	$	85.4	$	(518.7	)	$	919.3

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows

November 30, 2013 (In millions):	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(2.2	)	$	67.1		$	2.4		$	10.3		$	77.6
Cash flows from investing activities:
Capital expenditures		—			(62.5	)		(0.7	)		—			(63.2	)
Other investing		—			(411.7	)		—			—			(411.7	)
Net cash used in investing activities		—			(474.2	)		(0.7	)		—			(474.9	)
Cash flows from financing activities:
Proceeds from issuance of debt		460.0			—			—			—			460.0
Repayments on debt		(12.6	)		(0.2	)		—			—			(12.8	)
Debt issuance costs		(14.9	)		—			—			—			(14.9	)
Net transfers (to) from parent		(410.5	)		412.2			(1.7	)		—			—
Other financing activities		0.5			—			—			—			0.5
Net cash provided by (used in) financing activities		22.5			412.0			(1.7	)		—			432.8
Net increase in cash and cash equivalents		20.3			4.9			—			10.3			35.5
Cash and cash equivalents at beginning of year		172.4			—			—			(10.3	)		162.1
Cash and cash equivalents at end of period	$	192.7		$	4.9		$	—		$	—		$	197.6

November 30, 2012 (In millions):	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(17.8	)	$	95.9		$	1.7		$	6.4		$	86.2
Cash flows from investing activities:
Capital expenditures		—			(35.8	)		(1.4	)		—			(37.2	)
Other investing		—			0.6			—			—			0.6
Net cash used in investing activities		—			(35.2	)		(1.4	)		—			(36.6	)
Cash flows from financing activities:
Repayments on debt		(77.4	)		(0.3	)		—			—			(77.7	)
Debt issuance costs		(1.3	)		—			—			—			(1.3	)
Net transfers (to) from parent		59.9			(59.6	)		(0.3	)		—			—
Other financing activities		4.3			(0.8	)		—			—			3.5
Net cash (used in) provided by financing activities		(14.5	)		(60.7	)		(0.3	)		—			(75.5	)
Net (decrease) increase in cash and cash equivalents		(32.3	)		—			—			6.4			(25.9	)
Cash and cash equivalents at beginning of year		204.7			—			—			(16.7	)		188.0
Cash and cash equivalents at end of period	$	172.4		$	—		$	—		$	(10.3	)	$	162.1

November 30, 2011 (In millions):	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(33.3	)	$	105.6		$	5.4		$	(0.9	)	$	76.8
Cash flows from investing activities:
Capital expenditures		—			(20.3	)		(0.8	)		—			(21.1	)
Other investing activities		26.7			—			—			—			26.7
Net cash provided by (used in) investing activities		26.7			(20.3	)		(0.8	)		—			5.6
Cash flows from financing activities:
Repayments on debt		(70.0	)		(0.1	)		—			—			(70.1	)
Debt issuance costs		(4.2	)		—			—			—			(4.2	)
Net transfers (to) from parent		87.9			(83.3	)		(4.6	)		—			—
Other financing activities		0.3			(1.9	)		—			—			(1.6	)
Net cash provided by (used in) financing activities		14.0			(85.3	)		(4.6	)		—			(75.9	)
Net increase (decrease) in cash and cash equivalents		7.4			—			—			(0.9	)		6.5
Cash and cash equivalents at beginning of year		197.3			—			—			(15.8	)		181.5
Cash and cash equivalents at end of period	$	204.7		$	—		$	—		$	(16.7	)	$	188.0