CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)

9 Months Ended

Jun. 30, 2016

Consolidating Guarantor And Non Guarantor Financial Information [Abstract]

Condensed Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEETS

At June 30, 2016

	Parent Company		Guarantor Companies		Non-Guarantor Companies		Elimination			Consolidation
CURRENT ASSETS
Cash and equivalents	$	22,699	$	8,691	$	37,226	$	—		$	68,616
Accounts receivable, net of allowances	—		195,787		56,022		(29,041		)	222,768
Contract costs and recognized income not yet billed, net of progress payments	—		121,352		239		—			121,591
Inventories, net	—		240,544		73,508		—			314,052
Prepaid and other current assets	34,652		30,343		14,408		(15,441		)	63,962
Assets of discontinued operations	—		—		1,301		—			1,301
Total Current Assets	57,351		596,717		182,704		(44,482		)	792,290
PROPERTY, PLANT AND EQUIPMENT, net	1,026		289,928		97,195		—			388,149
GOODWILL	—		284,875		75,380		—			360,255
INTANGIBLE ASSETS, net	—		149,073		62,608		—			211,681
INTERCOMPANY RECEIVABLE	553,059		799,370		292,743		(1,645,172		)	—
EQUITY INVESTMENTS IN SUBSIDIARIES	808,951		661,936		1,805,573		(3,276,460		)	—
OTHER ASSETS	6,854		8,999		24,312		(14,946		)	25,219
ASSETS OF DISCONTINUED OPERATIONS	—		—		2,047		—			2,047
Total Assets	$	1,427,241	$	2,790,898	$	2,542,562	$	(4,981,060	)	$	1,779,641
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	$	2,735	$	2,304	$	12,737	$	—		$	17,776
Accounts payable and accrued liabilities	53,989		177,862		83,597		(44,817		)	270,631
Liabilities of discontinued operations	—		—		1,600		—			1,600
Total Current Liabilities	56,724		180,166		97,934		(44,817		)	290,007
LONG-TERM DEBT, net	848,004		19,424		46,410		—			913,838
INTERCOMPANY PAYABLES	68,957		743,810		815,214		(1,627,981		)	—
OTHER LIABILITIES	33,529		105,679		22,224		(8,378		)	153,054
LIABILITIES OF DISCONTINUED OPERATIONS	—		—		2,715		—			2,715
Total Liabilities	1,007,214		1,049,079		984,497		(1,681,176		)	1,359,614
SHAREHOLDERS’ EQUITY	420,027		1,741,819		1,558,065		(3,299,884		)	420,027
Total Liabilities and Shareholders’ Equity	$	1,427,241	$	2,790,898	$	2,542,562	$	(4,981,060	)	$	1,779,641

CONDENSED CONSOLIDATING BALANCE SHEETS

At September 30, 2015

	Parent Company		Guarantor Companies		Non-Guarantor Companies		Elimination			Consolidation
CURRENT ASSETS
Cash and equivalents	$	2,440	$	10,671	$	38,890	$	—		$	52,001
Accounts receivable, net of allowances	—		178,830		61,772		(21,847		)	218,755
Contract costs and recognized income not yet billed, net of progress payments	—		103,879		16		—			103,895
Inventories, net	—		257,929		67,880		—			325,809
Prepaid and other current assets	23,493		27,584		12,488		(8,479		)	55,086
Assets of discontinued operations	—		—		1,316		—			1,316
Total Current Assets	25,933		578,893		182,362		(30,326		)	756,862
PROPERTY, PLANT AND EQUIPMENT, net	1,108		286,854		92,010		—			379,972
GOODWILL	—		284,875		71,366		—			356,241
INTANGIBLE ASSETS, net	—		152,412		61,425		—			213,837
INTERCOMPANY RECEIVABLE	542,297		904,840		263,480		(1,710,617		)	—
EQUITY INVESTMENTS IN SUBSIDIARIES	745,262		644,577		1,740,889		(3,130,728		)	—
OTHER ASSETS	41,774		30,203		9,959		(59,590		)	22,346
ASSETS OF DISCONTINUED OPERATIONS	—		—		2,175		—			2,175
Total Assets	$	1,356,374	$	2,882,654	$	2,423,666	$	(4,931,261	)	$	1,731,433
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	$	2,202	$	3,842	$	10,549	$	—		$	16,593
Accounts payable and accrued liabilities	30,158		222,758		72,843		(20,951		)	304,808
Liabilities of discontinued operations	—		—		2,229		—			2,229
Total Current Liabilities	32,360		226,600		85,621		(20,951		)	323,630
LONG-TERM DEBT, net	752,839		17,116		57,021		—			826,976
INTERCOMPANY PAYABLES	76,477		831,345		775,120		(1,682,942		)	—
OTHER LIABILITIES	64,173		126,956		28,428		(72,634		)	146,923
LIABILITIES OF DISCONTINUED OPERATIONS	—		—		3,379		—			3,379
Total Liabilities	925,849		1,202,017		949,569		(1,776,527		)	1,300,908
SHAREHOLDERS’ EQUITY	430,525		1,680,637		1,474,097		(3,154,734		)	430,525
Total Liabilities and Shareholders’ Equity	$	1,356,374	$	2,882,654	$	2,423,666	$	(4,931,261	)	$	1,731,433

Condensed Income Statement

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended June 30, 2016

($ in thousands)	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
Revenue	$	—		$	369,235		$	100,420		$	(7,455	)	$	462,200
Cost of goods and services	—			267,804			82,914			(7,875		)	342,843
Gross profit	—			101,431			17,506			420			119,357
Selling, general and administrative expenses	6,646			64,735			17,591			(92		)	88,880
Restructuring and other related charges	—			1,299			4,601			—			5,900
Total operating expenses	6,646			66,034			22,192			(92		)	94,780
Income (loss) from operations	(6,646		)	35,397			(4,686		)	512			24,577
Other income (expense)
Interest income (expense), net	(3,347		)	(7,656		)	(1,957		)	—			(12,960		)
Other, net	67			714			(127		)	(512		)	142
Total other income (expense)	(3,280		)	(6,942		)	(2,084		)	(512		)	(12,818		)
Income (loss) before taxes	(9,926		)	28,455			(6,770		)	—			11,759
Provision (benefit) for income taxes	12,946			7,167			(15,950		)	—			4,163
Income (loss) before equity in net income of subsidiaries	(22,872		)	21,288			9,180			—			7,596
Equity in net income (loss) of subsidiaries	30,468			7,454			21,288			(59,210		)	—
Net income (loss)	$	7,596		$	28,742		$	30,468		$	(59,210	)	$	7,596
Net Income (loss)	$	7,596		$	28,742		$	30,468		$	(59,210	)	$	7,596
Other comprehensive income (loss), net of taxes	2,469			(2,652		)	4,920			(2,268		)	2,469
Comprehensive income (loss)	$	10,065		$	26,090		$	35,388		$	(61,478	)	$	10,065

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended June 30, 2015

($ in thousands)	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
Revenue	$	—		$	416,433		$	110,204		$	(14,943	)	$	511,694
Cost of goods and services	—			310,578			85,841			(8,214		)	388,205
Gross profit	—			105,855			24,363			(6,729		)	123,489
Selling, general and administrative expenses	5,978			73,190			24,286			(7,879		)	95,575
Income (loss) from operations	(5,978		)	32,665			77			1,150			27,914
Other income (expense)
Interest income (expense), net	(2,402		)	(7,770		)	(1,978		)	—			(12,150		)
Other, net	(26		)	2,075			30			(1,150		)	929
Total other income (expense)	(2,428		)	(5,695		)	(1,948		)	(1,150		)	(11,221		)
Income (loss) before taxes	(8,406		)	26,970			(1,871		)	—			16,693
Provision (benefit) for income taxes	(3,194		)	9,726			(732		)	—			5,800
Income (loss) before equity in net income of subsidiaries	(5,212		)	17,244			(1,139		)	—			10,893
Equity in net income (loss) of subsidiaries	16,105			(1,206		)	17,244			(32,143		)	—
Net income (loss)	$	10,893		$	16,038		$	16,105		$	(32,143	)	$	10,893
Net Income (loss)	$	10,893		$	16,038		$	16,105		$	(32,143	)	$	10,893
Other comprehensive income (loss), net of taxes	5,363			2,077			3,258			(5,335		)	5,363
Comprehensive income (loss)	$	16,256		$	18,115		$	19,363		$	(37,478	)	$	16,256

Condensed Cash Flow Statement

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Nine Months Ended June 30, 2016

	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	22,287		$	51,631		$	53,381		$	(105,012	)	$	22,287
Net cash provided by (used in) operating activities:	(15,620		)	54,730			18,445			—			57,555
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(221		)	(51,494		)	(11,532		)	—			(63,247		)
Acquired businesses, net of cash acquired	—			(2,726		)	(1,744		)	—			(4,470		)
Proceeds from sale of investments	715			—						—			715
Proceeds from sale of assets	—			757			157			—			914
Net cash provided by (used in) investing activities	494			(53,463		)	(13,119		)	—			(66,088		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchase of shares for treasury	(50,771		)	—			—			—			(50,771		)
Proceeds from long-term debt	238,450			2,336			22,463			—			263,249
Payments of long-term debt	(143,785		)	(1,599		)	(32,589		)	—			(177,973		)
Change in short-term borrowings	—			—			(45		)	—			(45		)
Financing costs	(4,028		)	—			(107		)	—			(4,135		)
Tax benefit from exercise/vesting of equity awards, net	2,291			—			—			—			2,291
Dividends paid	(6,686		)	—			—			—			(6,686		)
Other, net	(86		)	(3,984		)	3,984			—			(86		)
Net cash provided by (used in) financing activities	35,385			(3,247		)	(6,294		)	—			25,844
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations	—			—			(1,152		)	—			(1,152		)
Effect of exchange rate changes on cash and equivalents	—			—			456			—			456
NET DECREASE IN CASH AND EQUIVALENTS	20,259			(1,980		)	(1,664		)	—			16,615
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	2,440			10,671			38,890			—			52,001
CASH AND EQUIVALENTS AT END OF PERIOD	$	22,699		$	8,691		$	37,226		$	—		$	68,616

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Nine Months Ended June 30, 2015

	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	23,486		$	38,959		$	37,615		$	(76,574	)	$	23,486
Net cash provided by (used in) operating activities:	4,582			16,063			8,941			—			29,586
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(203		)	(40,918		)	(14,244		)	—			(55,365		)
Acquired businesses, net of cash acquired	—			(2,225		)	—			—			(2,225		)
Intercompany distributions	10,000			(10,000		)	—			—			—
Investment purchases	8,891			—			—			—			8,891
Proceeds from sale of assets	—			90			185			—			275
Net cash provided by (used in) investing activities	18,688			(53,053		)	(14,059		)	—			(48,424		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	371			—			—			—			371
Purchase of shares for treasury	(58,218		)	—			—			—			(58,218		)
Proceeds from long-term debt	112,000			116			9,407			—			121,523
Payments of long-term debt	(73,652		)	(1,009		)	(5,834		)	—			(80,495		)
Change in short-term borrowings	—			—			(81		)	—			(81		)
Financing costs	(592		)	—			—			—			(592		)
Tax benefit from exercise/vesting of equity awards, net	345			—			—			—			345
Dividends paid	(5,807		)	—			—			—			(5,807		)
Other, net	206			19,254			(19,254		)	—			206
Net cash provided by (used in) financing activities	(25,347		)	18,361			(15,762		)	—			(22,748		)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations	—			—			(830		)	—			(830		)
Effect of exchange rate changes on cash and equivalents	—			—			(4,034		)	—			(4,034		)
NET DECREASE IN CASH AND EQUIVALENTS	(2,077		)	(18,629		)	(25,744		)	—			(46,450		)
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	6,813			31,522			54,070			—			92,405
CASH AND EQUIVALENTS AT END OF PERIOD	$	4,736		$	12,893		$	28,326		$	—		$	45,955