CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)

9 Months Ended

Jun. 30, 2017

Consolidating Guarantor And Non Guarantor Financial Information [Abstract]

Condensed Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEETS

At June 30, 2017

	Parent Company		Guarantor Companies		Non-Guarantor Companies		Elimination			Consolidation
CURRENT ASSETS
Cash and equivalents	$	21,231	$	11,550	$	36,667	$	—		$	69,448
Accounts receivable, net of allowances	—		192,813		54,839		(19,839		)	227,813
Contract costs and recognized income not yet billed, net of progress payments	—		119,114		253		—			119,367
Inventories, net	—		269,815		69,502		76			339,393
Prepaid and other current assets	14,014		16,574		12,908		126			43,622
Assets of discontinued operations	—		—		479		—			479
Total Current Assets	35,245		609,866		174,648		(19,637		)	800,122
PROPERTY, PLANT AND EQUIPMENT, net	723		300,922		108,827		—			410,472
GOODWILL	—		284,875		76,530		—			361,405
INTANGIBLE ASSETS, net	—		144,620		65,440		—			210,060
INTERCOMPANY RECEIVABLE	555,769		756,667		356,701		(1,669,137		)	—
EQUITY INVESTMENTS IN SUBSIDIARIES	848,559		867,153		1,062,002		(2,777,714		)	—
OTHER ASSETS	8,568		5,515		4,006		21			18,110
ASSETS OF DISCONTINUED OPERATIONS	—		—		4,314		—			4,314
Total Assets	$	1,448,864	$	2,969,618	$	1,852,468	$	(4,466,467	)	$	1,804,483
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	$	2,895	$	2,358	$	11,403	$	—		$	16,656
Accounts payable and accrued liabilities	28,093		192,756		69,231		(13,638		)	276,442
Liabilities of discontinued operations	—		—		1,107		—			1,107
Total Current Liabilities	30,988		195,114		81,741		(13,638		)	294,205
LONG-TERM DEBT, net	924,307		17,240		39,173		—			980,720
INTERCOMPANY PAYABLES	75,225		768,406		795,095		(1,638,726		)	—
OTHER LIABILITIES	24,256		100,641		12,310		(6,058		)	131,149
LIABILITIES OF DISCONTINUED OPERATIONS	—		—		4,321		—			4,321
Total Liabilities	1,054,776		1,081,401		932,640		(1,658,422		)	1,410,395
SHAREHOLDERS’ EQUITY	394,088		1,888,217		919,828		(2,808,045		)	394,088
Total Liabilities and Shareholders’ Equity	$	1,448,864	$	2,969,618	$	1,852,468	$	(4,466,467	)	$	1,804,483

CONDENSED CONSOLIDATING BALANCE SHEETS

At September 30, 2016

	Parent Company		Guarantor Companies		Non-Guarantor Companies		Elimination			Consolidation
CURRENT ASSETS
Cash and equivalents	$	6,517	$	27,692	$	38,344	$	—		$	72,553
Accounts receivable, net of allowances	—		175,583		63,810		(5,642		)	233,751
Contract costs and recognized income not yet billed, net of progress payments	—		126,961		—		—			126,961
Inventories, net	—		239,325		69,544		—			308,869
Prepaid and other current assets	39,763		31,191		16,447		(48,796		)	38,605
Assets of discontinued operations	—		—		219		—			219
Total Current Assets	46,280		600,752		188,364		(54,438		)	780,958
PROPERTY, PLANT AND EQUIPMENT, net	956		303,735		100,713		—			405,404
GOODWILL	—		284,875		76,310		—			361,185
INTANGIBLE ASSETS, net	—		147,960		62,639		—			210,599
INTERCOMPANY RECEIVABLE	539,938		713,118		307,081		(1,560,137		)	—
EQUITY INVESTMENTS IN SUBSIDIARIES	824,887		866,595		1,916,622		(3,608,104		)	—
OTHER ASSETS	6,529		12,151		12,675		(9,373		)	21,982
ASSETS OF DISCONTINUED OPERATIONS	—		—		1,968		—			1,968
Total Assets	$	1,418,590	$	2,929,186	$	2,666,372	$	(5,232,052	)	$	1,782,096
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	$	3,153	$	2,307	$	17,184	$	—		$	22,644
Accounts payable and accrued liabilities	65,751		202,657		65,213		(39,686		)	293,935
Liabilities of discontinued operations	—		—		1,684		—			1,684
Total Current Liabilities	68,904		204,964		84,081		(39,686		)	318,263
LONG-TERM DEBT, net	848,589		18,872		46,453		—			913,914
INTERCOMPANY PAYABLES	57,648		737,980		735,053		(1,530,681		)	—
OTHER LIABILITIES	32,502		114,491		26,574		(36,301		)	137,266
LIABILITIES OF DISCONTINUED OPERATIONS	—		—		1,706		—			1,706
Total Liabilities	1,007,643		1,076,307		893,867		(1,606,668		)	1,371,149
SHAREHOLDERS’ EQUITY	410,947		1,852,879		1,772,505		(3,625,384		)	410,947
Total Liabilities and Shareholders’ Equity	$	1,418,590	$	2,929,186	$	2,666,372	$	(5,232,052	)	$	1,782,096

Condensed Income Statement

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended June 30, 2017

($ in thousands)	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
Revenue	$	—		$	376,143		$	103,905		$	(6,728	)	$	473,320
Cost of goods and services	—			283,552			81,082			(7,271		)	357,363
Gross profit	—			92,591			22,823			543			115,957
Selling, general and administrative expenses	7,038			65,146			18,648			(92		)	90,740
Income (loss) from operations	(7,038		)	27,445			4,175			635			25,217
Other income (expense)
Interest income (expense), net	(3,267		)	(8,248		)	(1,197		)	—			(12,712		)
Other, net	55			572			(927		)	(635		)	(935		)
Total other income (expense)	(3,212		)	(7,676		)	(2,124		)	(635		)	(13,647		)
Income (loss) before taxes	(10,250		)	19,769			2,051			—			11,570
Provision (benefit) for income taxes	(6,080		)	6,910			1,187			—			2,017
Income (loss) before equity in net income of subsidiaries	(4,170		)	12,859			864			—			9,553
Equity in net income (loss) of subsidiaries	13,723			913			12,859			(27,495		)	—
Net income (loss)	$	9,553		$	13,772		$	13,723		$	(27,495	)	$	9,553
Net Income (loss)	$	9,553		$	13,772		$	13,723		$	(27,495	)	$	9,553
Other comprehensive income (loss), net of taxes	7,156			3,688			9,992			(13,680		)	7,156
Comprehensive income (loss)	$	16,709		$	17,460		$	23,715		$	(41,175	)	$	16,709

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 Nine Months Ended June 30, 2017

	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
Revenue	$	—		$	1,132,641		$	327,325		$	(23,782	)	$	1,436,184
Cost of goods and services	—			859,990			253,406			(24,846		)	1,088,550
Gross profit	—			272,651			73,919			1,064			347,634
Selling, general and administrative expenses	20,759			194,377			58,113			(277		)	272,972
Income (loss) from operations	(20,759		)	78,274			15,806			1,341			74,662
Other income (expense)
Interest income (expense), net	(10,616		)	(24,539		)	(3,546		)	—			(38,701		)
Other, net	216			2,131			(2,182		)	(1,341		)	(1,176		)
Total other income (expense)	(10,400		)	(22,408		)	(5,728		)	(1,341		)	(39,877		)
Income (loss) before taxes	(31,159		)	55,866			10,078			—			34,785
Provision (benefit) for income taxes	(16,643		)	20,006			4,560			—			7,923
Income (loss) before equity in net income of subsidiaries	(14,516		)	35,860			5,518			—			26,862
Equity in net income (loss) of subsidiaries	41,378			5,633			35,860			(82,871		)	—
Net income (loss)	$	26,862		$	41,493		$	41,378		$	(82,871	)	$	26,862
Net Income (loss)	$	26,862		$	41,493		$	41,378		$	(82,871	)	$	26,862
Other comprehensive income (loss), net of taxes	3,777			(4,219		)	15,346			(11,127		)	3,777
Comprehensive income (loss)	$	30,639		$	37,274		$	56,724		$	(93,998	)	$	30,639

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Nine Months Ended June 30, 2016

	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
Revenue	$	—		$	1,165,484		$	313,766		$	(22,794	)	$	1,456,456
Cost of goods and services	—			879,391			251,303			(23,857		)	1,106,837
Gross profit	—			286,093			62,463			1,063			349,619
Selling, general and administrative expenses	19,574			196,879			55,589			(277		)	271,765
Restructuring and other related charges	—			1,299			4,601			—			5,900
Total operating expenses	19,574			198,178			60,190			(277		)	277,665
Income (loss) from operations	(19,574		)	87,915			2,273			1,340			71,954
Other income (expense)
Interest income (expense), net	(8,299		)	(23,197		)	(5,824		)	—			(37,320		)
Other, net	278			2,634			(1,260		)	(1,340		)	312
Total other income (expense)	(8,021		)	(20,563		)	(7,084		)	(1,340		)	(37,008		)
Income (loss) before taxes	(27,595		)	67,352			(4,811		)	—			34,946
Provision (benefit) for income taxes	1,307			23,996			(14,836		)	—			10,467
Income (loss) before equity in net income of subsidiaries	(28,902		)	43,356			10,025			—			24,479
Equity in net income (loss) of subsidiaries	53,381			8,275			43,356			(105,012		)	—
Net income (loss)	$	24,479		$	51,631		$	53,381		$	(105,012	)	$	24,479
Net Income (loss)	$	24,479		$	51,631		$	53,381		$	(105,012	)	$	24,479
Other comprehensive income (loss), net of taxes	10,911			(451		)	11,161			(10,710		)	10,911
Comprehensive income (loss)	$	35,390		$	51,180		$	64,542		$	(115,722	)	$	35,390

Condensed Cash Flow Statement

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Nine Months Ended June 30, 2017

	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	26,862		$	41,493		$	41,378		$	(82,871	)	$	26,862
Net cash provided by (used in) operating activities:	(18,837		)	40,186			44,136			—			65,485
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(12		)	(36,384		)	(22,757		)	—			(59,153		)
Acquired businesses, net of cash acquired	—			—			(6,051		)	—			(6,051		)
Proceeds from sale of assets	—			157			8			—			165
Net cash provided by investing activities	(12		)	(36,227		)	(28,800		)	—			(65,039		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchase of shares for treasury	(15,796		)	—			—			—			(15,796		)
Proceeds from long-term debt	200,656			—			10,441			—			211,097
Payments of long-term debt	(128,365		)	(1,613		)	(22,500		)	—			(152,478		)
Change in short-term borrowings	—			—			(940		)	—			(940		)
Share premium payment on settled debt	(24,997		)	—			—			—			(24,997		)
Financing costs	(363		)	—			—			—			(363		)
Purchase of ESOP shares	(10,908		)	—			—			—			(10,908		)
Dividends paid	(7,766		)	—			—			—			(7,766		)
Other, net	21,102			(18,488		)	(2,726		)	—			(112		)
Net cash provided by (used in) financing activities	33,563			(20,101		)	(15,725		)	—			(2,263		)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations	—			—			(1,216		)	—			(1,216		)
Effect of exchange rate changes on cash and equivalents	—			—			(72		)	—			(72		)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	14,714			(16,142		)	(1,677		)	—			(3,105		)
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	6,517			27,692			38,344			—			72,553
CASH AND EQUIVALENTS AT END OF PERIOD	$	21,231		$	11,550		$	36,667		$	—		$	69,448

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)	$	24,479		$	51,631		$	53,381		$	(105,012	)	$	24,479
Net cash provided by (used in) operating activities:	(13,428		)	54,730			18,445			—			59,747
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(221		)	(51,494		)	(11,532		)	—			(63,247		)
Acquired businesses, net of cash acquired	—			—			(1,744		)	—			(1,744		)
Investment in unconsolidated joint venture	—			(2,726		)	—			—			(2,726		)
Investment sales	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		)
Dividends paid	(6,686		)	—			—			—			(6,686		)
Other, net	13			(3,984		)	3,984			—			13
Net cash provided by (used in) financing activities	33,193			(3,247		)	(6,294		)	—			23,652
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 INCREASE (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