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Unusual Items
 6 Months Ended
May 31, 2014
Extraordinary And Unusual Items [Abstract]  
Unusual Items

Note 14. Unusual Items

Total unusual items expense, a component of other expense, net in the unaudited condensed consolidated statements of operations, for the second quarter and first half of fiscal 2014 and 2013 was as follows:

 

     Three months ended May 31,     Six months ended May 31,  
     2014      2013     2014      2013  
     (In millions)  

Unusual items

           

Legal related matters

    $ 0.1      $ (0.1 )    $ 0.1       $ 0.4   

Loss on debt repurchased

      45.9        —          50.8        —     

Loss on bank amendment

      0.2        —          0.2        —     

Rocketdyne Business acquisition related costs(1)

      —           6.4        —           11.8   
  

 

 

     

 

 

    

 

 

     

 

 

  
   $ 46.2      $ 6.3      $ 51.1       $ 12.2   
  

 

 

     

 

 

    

 

 

     

 

 

  

 

(1) Includes a benefit of $4.0 million and $3.6 million for the three and six months ended May 31, 2013, respectively, related to the Company not being required to divest the Liquid Divert and Attitude Control Systems program.

 

First half of fiscal 2014 Activity:

A summary of the Company’s loss on the 4  1⁄16% Debentures repurchased during the first half of fiscal 2014 is as follows (in millions):

 

Principal amount repurchased

    $ 50.2   

Cash repurchase price

      (100.8 ) 

Write-off of deferred financing costs

      (0.2 ) 
  

 

 

  

Loss on 4  1⁄16% Debentures repurchased

    $ (50.8 ) 
  

 

 

  

During the second quarter of fiscal 2014, the Company recorded $0.2 million of losses related to an amendment to the Senior Credit Facility.

During the first half of fiscal 2014, the Company recorded $0.1 million for realized losses and interest associated with the failure to register with the SEC the issuance of certain of the Company’s common shares under the defined contribution 401(k) employee benefit plan.

First half of fiscal 2013 Activity:

During the first half of fiscal 2013, the Company recorded ($0.1) million for realized gains and interest associated with the failure to register with the SEC the issuance of certain of the Company’s common shares under the defined contribution 401(k) employee benefit plan. During the first quarter of fiscal 2013, the Company recorded a charge of $0.5 million related to a legal settlement.

The Company incurred expenses of $11.8 million, including internal labor costs of $1.1 million, related to the Rocketdyne Business acquisition in the first half of fiscal 2013.