CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)

3 Months Ended

Dec. 31, 2017

Consolidating Guarantor And Non Guarantor Financial Information [Abstract]

Condensed Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEETS

At December 31, 2017

	Parent Company			Guarantor Companies		Non-Guarantor Companies			Elimination			Consolidation
CURRENT ASSETS
Cash and equivalents	$	5,931		$	31,437	$	47,052		$	—		$	84,420
Accounts receivable, net of allowances	—			174,330		60,864			(23,171		)	212,023
Contract costs and recognized income not yet billed, net of progress payments	—			119,529		671			—			120,200
Inventories, net	—			307,201		52,573			70			359,844
Prepaid and other current assets	34,622			20,748		3,499			5,968			64,837
Assets of discontinued operations held for sale	—			176,788		200,487			—			377,275
Assets of discontinued operations not held for sale	—			—		328			—			328
Total Current Assets	40,553			830,033		365,474			(17,133		)	1,218,927
PROPERTY, PLANT AND EQUIPMENT, net	715			248,481		31,529			—			280,725
GOODWILL	—			346,898		38,178			—			385,076
INTANGIBLE ASSETS, net	93			216,478		60,589			—			277,160
INTERCOMPANY RECEIVABLE	587,623			772,461		391,237			(1,751,321		)	—
EQUITY INVESTMENTS IN SUBSIDIARIES	1,066,860			883,171		1,817,051			(3,767,082		)	—
OTHER ASSETS	6,070			12,402		(1,323		)	(1,474		)	15,675
ASSETS OF DISCONTINUED OPERATIONS NOT HELD FOR SALE	—			—		2,952			—			2,952
Total Assets	$	1,701,914		$	3,309,924	$	2,705,687		$	(5,537,010	)	$	2,180,515
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	$	2,854		$	3,249	$	6,490		$	—		$	12,593
Accounts payable and accrued liabilities	37,122			229,702		56,099			(7,627		)	315,296
Liabilities of discontinued operations held for sale	—			42,635		43,102			—			85,737
Liabilities of discontinued operations not held for sale	—			—		3,924			—			3,924
Total Current Liabilities	39,976			275,586		109,615			(7,627		)	417,550
LONG-TERM DEBT, net	1,177,811			8,610		51,972			—			1,238,393
INTERCOMPANY PAYABLES	63,607			1,324,279		334,212			(1,722,098		)	—
OTHER LIABILITIES	(14,293		)	76,997		4,919			16,911			84,534
LIABILITIES OF DISCONTINUED OPERATIONS NOT HELD FOR SALE	—			—		5,225			—			5,225
Total Liabilities	1,267,101			1,685,472		505,943			(1,712,814		)	1,745,702
SHAREHOLDERS’ EQUITY	434,813			1,624,452		2,199,744			(3,824,196		)	434,813
Total Liabilities and Shareholders’ Equity	$	1,701,914		$	3,309,924	$	2,705,687		$	(5,537,010	)	$	2,180,515

CONDENSED CONSOLIDATING BALANCE SHEETS

At September 30, 2017

	Parent Company		Guarantor Companies		Non-Guarantor Companies			Elimination			Consolidation
CURRENT ASSETS
Cash and equivalents	$	3,240	$	8,066	$	36,375		$	—		$	47,681
Accounts receivable, net of allowances	—		168,731		59,929			(20,431		)	208,229
Contract costs and recognized income not yet billed, net of progress payments	—		131,383		279			—			131,662
Inventories, net	—		246,605		52,759			73			299,437
Prepaid and other current assets	21,131		15,854		3,002			80			40,067
Assets of discontinued operations held for sale	—		168,306		202,418			—			370,724
Assets of discontinued operations not held for sale	—		—		329			—			329
Total Current Assets	24,371		738,945		355,091			(20,278		)	1,098,129
PROPERTY, PLANT AND EQUIPMENT, net	645		200,362		31,128			—			232,135
GOODWILL	—		280,797		38,342			—			319,139
INTANGIBLE ASSETS, net	93		143,415		61,619			—			205,127
INTERCOMPANY RECEIVABLE	552,017		757,608		915,551			(2,225,176		)	—
EQUITY INVESTMENTS IN SUBSIDIARIES	863,149		877,641		1,613,891			(3,354,681		)	—
OTHER ASSETS	12,171		12,054		(1,002		)	(7,172		)	16,051
ASSETS OF DISCONTINUED OPERATIONS NOT HELD FOR SALE	—		—		2,960			—			2,960
Total Assets	$	1,452,446	$	3,010,822	$	3,017,580		$	(5,607,307	)	$	1,873,541
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	$	2,854	$	1,471	$	6,753		$	—		$	11,078
Accounts payable and accrued liabilities	14,683		199,784		46,111			6,631			267,209
Liabilities of discontinued operations held for sale	—		47,426		37,024			—			84,450
Liabilities of discontinued operations not held for sale	—		—		8,342			—			8,342
Total Current Liabilities	17,537		248,681		98,230			6,631			371,079
LONG-TERM DEBT, net	903,609		6,044		58,427			—			968,080
INTERCOMPANY PAYABLES	84,068		1,259,413		854,518			(2,197,999		)	—
OTHER LIABILITIES	48,424		76,036		14,135			(6,058		)	132,537
LIABILITIES OF DISCONTINUED OPERATIONS NOT HELD FOR SALE	—		—		3,037			—			3,037
Total Liabilities	1,053,638		1,590,174		1,028,347			(2,197,426		)	1,474,733
SHAREHOLDERS’ EQUITY	398,808		1,420,648		1,989,233			(3,409,881		)	398,808
Total Liabilities and Shareholders’ Equity	$	1,452,446	$	3,010,822	$	3,017,580		$	(5,607,307	)	$	1,873,541

Condensed Income Statement

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended December 31, 2017

($ in thousands)	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
Revenue	$	—		$	351,312		$	92,519		$	(6,528	)	$	437,303
Cost of goods and services	—			262,575			60,779			(6,895		)	316,459
Gross profit	—			88,737			31,740			367			120,844
Selling, general and administrative expenses	11,337			74,513			20,049			(92		)	105,807
Income (loss) from operations	(11,337		)	14,224			11,691			459			15,037
Other income (expense)
Interest income (expense), net	(6,774		)	(6,202		)	(3,666		)	—			(16,642		)
Other, net	(5		)	323			(324		)	(462		)	(468		)
Total other income (expense)	(6,779		)	(5,879		)	(3,990		)	(462		)	(17,110		)
Income (loss) before taxes	(18,116		)	8,345			7,701			(3		)	(2,073		)
Provision (benefit) for income taxes	(29,692		)	2,734			2,057			(3		)	(24,904		)
Income (loss) before equity in net income of subsidiaries	11,576			5,611			5,644			—			22,831
Equity in net income (loss) of subsidiaries	19,413			(652		)	5,611			(24,372		)	—
Income from continuing operations	$	30,989		$	4,959		$	11,255		$	(24,372	)	$	22,831
Income from operations of discontinued businesses	—			6,420			5,046			—			11,466
Provision from income taxes	—			2,060			1,248			—			3,308
Income from discontinued operations	—			4,360			3,798			—			8,158
Net Income (loss)	$	30,989		$	9,319		$	15,053		$	(24,372	)	$	30,989
Comprehensive income (loss)	$	39,347		$	22,769		$	47,447		$	(70,216	)	$	39,347

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended December 31, 2016

($ in thousands)	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
Revenue	$	—		$	291,336		$	68,551		$	(7,610	)	$	352,277
Cost of goods and services	—			218,839			44,554			(7,860		)	255,533
Gross profit	—			72,497			23,997			250			96,744
Selling, general and administrative expenses	6,644			54,991			17,341			(92		)	78,884
Income (loss) from operations	(6,644		)	17,506			6,656			342			17,860
Other income (expense)
Interest income (expense), net	(4,027		)	(5,954		)	(3,308		)	—			(13,289		)
Other, net	(28		)	402			(172		)	(342		)	(140		)
Total other income (expense)	(4,055		)	(5,552		)	(3,480		)	(342		)	(13,429		)
Income (loss) before taxes	(10,699		)	11,954			3,176			—			4,431
Provision (benefit) for income taxes	(9,029		)	5,864			552			—			(2,613		)
Income (loss) before equity in net income of subsidiaries	(1,670		)	6,090			2,624			—			7,044
Equity in net income (loss) of subsidiaries	13,934			(3,983		)	6,090			(16,041		)	—
Income (loss) from continuing operations	12,264			2,107			8,714			(16,041		)	7,044
Income from operation of discontinued businesses	—			3,491			5,054			—			8,545
Provision (benefit) from income taxes	—			1,804			1,521			—			3,325
Income (loss) from discontinued operations	—			1,687			3,533			—			5,220
Net Income (loss)	$	12,264		$	3,794		$	12,247		$	(16,041	)	$	12,264
Comprehensive income (loss)	$	952		$	(2,849	)	$	18,890		$	(16,041	)	$	952

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 Three Months Ended December 31, 2017

	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	30,989		$	9,319		$	15,053		$	(24,372	)	$	30,989
Net (income) loss from discontinued operations	—			(4,360		)	(3,798		)	—			(8,158		)
Net cash provided by (used in) operating activities:	(68,932		)	48,147			15,131			—			(5,654		)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(121		)	(7,984		)	(2,680		)	—			(10,785		)
Acquired businesses, net of cash acquired	(194,001		)	(4,682		)	—			—			(198,683		)
Proceeds from sale of assets	—			7			432			—			439
Net cash provided by investing activities	(194,122		)	(12,659		)	(2,248		)	—			(209,029		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchase of shares for treasury	(4,332		)	—			—			—			(4,332		)
Proceeds from long-term debt	326,094			976			(976		)	—			326,094
Payments of long-term debt	(45,719		)	(1,776		)	(5,478		)	—			(52,973		)
Change in short-term borrowings	—			35			—			—			35
Share premium payment on settled debt	—			—			—			—			—
Financing costs	(7,392		)	—			—			—			(7,392		)
Purchase of ESOP shares	—			—			—			—			—
Dividends paid	(2,990		)	—			—			—			(2,990		)
Other, net	84			(10,524		)	10,524			—			84
Net cash provided by (used in) financing activities	265,745			(11,289		)	4,070			—			258,526
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations	—			(827		)	(5,592		)	—			(6,419		)
Effect of exchange rate changes on cash and equivalents	—			(1		)	(684		)	—			(685		)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	2,691			23,371			10,677			—			36,739
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	3,240			8,066			36,375			—			47,681
CASH AND EQUIVALENTS AT END OF PERIOD	$	5,931		$	31,437		$	47,052		$	—		$	84,420

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Three Months Ended December 31, 2016

	Parent Company			Guarantor Companies			Non-Guarantor Companies			Elimination			Consolidation
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	12,264		$	3,794		$	12,247		$	(16,041	)	$	12,264
Net (income) loss from discontinued operations	—			(1,687		)	(3,533		)	—			(5,220		)
Net cash provided by (used in) operating activities:	(8,907		)	(334		)	9,523			—			282
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(3		)	(6,919		)	(768		)	—			(7,690		)
Acquired businesses, net of cash acquired	—			—			(6,051		)	—			(6,051		)
Proceeds from sale of assets	—			86			—			—			86
Net cash provided by (used in) investing activities	(3		)	(6,833		)	(6,819		)	—			(13,655		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchase of shares for treasury	(15,073		)	—			—			—			(15,073		)
Proceeds from long-term debt	32,213			—			6,843			—			39,056
Payments of long-term debt	(788		)	(329		)	(6,178		)	—			(7,295		)
Financing costs	(172		)	—			—			—			(172		)
Purchase of ESOP shares	(9,213		)	—			—			—			(9,213		)
Dividends paid	(2,499		)	—			—			—			(2,499		)
Other, net	(349		)	(243		)	243			—			(349		)
Net cash provided by (used in) financing activities	4,119			(572		)	908			—			4,455
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations	—			(6,204		)	(3,945		)	—			(10,149		)
Effect of exchange rate changes on cash and equivalents	—			—			(1,217		)	—			(1,217		)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	(4,791		)	(13,943		)	(1,550		)	—			(20,284		)
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	6,517			27,692			38,344			—			72,553
CASH AND EQUIVALENTS AT END OF PERIOD	$	1,726		$	13,749		$	36,794		$	—		$	52,269