SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2017

Supplemental Guarantor Financial Information [Abstract]

Supplemental Guarantor Financial Information Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS
March 31, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	27.5		$	—	$	141.0		$	—		$	168.5
Receivables, net	113.6			—		660.9			—			774.5
Intercompany receivables	—			1.6		1,976.8			(1,978.4		)	—
Income taxes receivable	21.7			0.7		6.9			(3.8		)	25.5
Inventories	181.3			—		475.0			—			656.3
Other current assets	182.1			3.4		4.4			(145.0		)	44.9
Total current assets	526.2			5.7		3,265.0			(2,127.2		)	1,669.7
Property, plant and equipment, net	509.2			—		3,150.0			—			3,659.2
Investment in subsidiaries	6,068.3			3,769.8		—			(9,838.1		)	—
Deferred income taxes	123.4			—		104.3			(115.0		)	112.7
Other assets	50.0			—		587.2			—			637.2
Long-term receivables—affiliates	—			2,227.6		—			(2,227.6		)	—
Intangible assets, net	0.4			5.7		609.3			—			615.4
Goodwill	—			966.3		1,152.7			—			2,119.0
Total assets	$	7,277.5		$	6,975.1	$	8,868.5		$	(14,307.9	)	$	8,813.2
Liabilities and Shareholders' Equity
Current liabilities:
Current installments of long-term debt	$	0.8		$	68.8	$	12.2		$	—		$	81.8
Accounts payable	48.6			—		590.1			(1.4		)	637.3
Intercompany payables	1,978.4			—		—			(1,978.4		)	—
Income taxes payable	—			—		11.9			(3.8		)	8.1
Accrued liabilities	130.7			—		272.5			(145.0		)	258.2
Total current liabilities	2,158.5			68.8		886.7			(2,128.6		)	985.4
Long-term debt	818.3			2,503.3		209.2			—			3,530.8
Accrued pension liability	437.9			—		189.6			—			627.5
Deferred income taxes	—			223.3		924.7			(115.0		)	1,033.0
Long-term payables—affiliates	1,301.6			—		926.0			(2,227.6		)	—
Other liabilities	289.6			6.5		68.8			—			364.9
Total liabilities	5,005.9			2,801.9		3,205.0			(4,471.2		)	6,541.6
Commitments and contingencies
Shareholders' equity:
Common stock	165.9			—		14.6			(14.6		)	165.9
Additional paid-in capital	2,253.7			4,125.7		4,808.2			(8,933.9		)	2,253.7
Accumulated other comprehensive loss	(502.1		)	—		(5.1		)	5.1			(502.1		)
Retained earnings	354.1			47.5		845.8			(893.3		)	354.1
Total shareholders' equity	2,271.6			4,173.2		5,663.5			(9,836.7		)	2,271.6
Total liabilities and shareholders' equity	$	7,277.5		$	6,975.1	$	8,868.5		$	(14,307.9	)	$	8,813.2

CONDENSED CONSOLIDATING BALANCE SHEETS
December 31, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	25.2		$	—	$	159.3		$	—		$	184.5
Receivables, net	88.3			—		586.7			—			675.0
Intercompany receivables	—			—		1,912.3			(1,912.3		)	—
Income taxes receivable	19.0			—		7.3			(0.8		)	25.5
Inventories	167.7			—		462.7			—			630.4
Other current assets	164.7			3.4		1.2			(138.5		)	30.8
Total current assets	464.9			3.4		3,129.5			(2,051.6		)	1,546.2
Property, plant and equipment, net	510.1			—		3,194.8			—			3,704.9
Investment in subsidiaries	6,035.2			3,734.7		—			(9,769.9		)	—
Deferred income taxes	133.5			—		103.5			(117.5		)	119.5
Other assets	48.1			—		596.3			—			644.4
Long-term receivables—affiliates	—			2,194.2		—			(2,194.2		)	—
Intangible assets, net	0.4			5.7		623.5			—			629.6
Goodwill	—			966.3		1,151.7			—			2,118.0
Total assets	$	7,192.2		$	6,904.3	$	8,799.3		$	(14,133.2	)	$	8,762.6
Liabilities and Shareholders' Equity
Current liabilities:
Current installments of long-term debt	$	0.6		$	67.5	$	12.4		$	—		$	80.5
Accounts payable	45.3			—		527.4			(1.9		)	570.8
Intercompany payables	1,882.8			29.5		—			(1,912.3		)	—
Income taxes payable	—			—		8.3			(0.8		)	7.5
Accrued liabilities	124.9			—		277.5			(138.6		)	263.8
Total current liabilities	2,053.6			97.0		825.6			(2,053.6		)	922.6
Long-term debt	913.9			2,413.3		209.9			—			3,537.1
Accrued pension liability	453.7			—		184.4			—			638.1
Deferred income taxes	—			223.6		926.4			(117.5		)	1,032.5
Long-term payables—affiliates	1,209.1			—		985.1			(2,194.2		)	—
Other liabilities	288.9			6.6		63.8			—			359.3
Total liabilities	4,919.2			2,740.5		3,195.2			(4,365.3		)	6,489.6
Commitments and contingencies
Shareholders' equity:
Common stock	165.4			—		14.6			(14.6		)	165.4
Additional paid-in capital	2,243.8			4,125.7		4,808.2			(8,933.9		)	2,243.8
Accumulated other comprehensive loss	(510.0		)	—		(7.0		)	7.0			(510.0		)
Retained earnings	373.8			38.1		788.3			(826.4		)	373.8
Total shareholders' equity	2,273.0			4,163.8		5,604.1			(9,767.9		)	2,273.0
Total liabilities and shareholders' equity	$	7,192.2		$	6,904.3	$	8,799.3		$	(14,133.2	)	$	8,762.6

CONDENSED CONSOLIDATING BALANCE SHEETS
March 31, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	19.8		$	—	$	295.8		$	—		$	315.6
Receivables, net	119.3			—		693.9			—			813.2
Intercompany receivables	—			67.1		1,416.4			(1,483.5		)	—
Income taxes receivable	31.1			—		5.2			—			36.3
Inventories	173.3			—		506.2			—			679.5
Other current assets	150.7			5.0		6.2			(129.1		)	32.8
Total current assets	494.2			72.1		2,923.7			(1,612.6		)	1,877.4
Property, plant and equipment, net	501.4			—		3,357.6			—			3,859.0
Investment in subsidiaries	5,970.8			3,675.2		—			(9,646.0		)	—
Deferred income taxes	177.3			—		2.6			(72.5		)	107.4
Other assets	42.8			—		421.0			—			463.8
Long-term receivables—affiliates	—			2,271.5		—			(2,271.5		)	—
Intangible assets, net	0.1			—		663.1			—			663.2
Goodwill	—			985.4		1,160.7			—			2,146.1
Total assets	$	7,186.6		$	7,004.2	$	8,528.7		$	(13,602.6	)	$	9,116.9
Liabilities and Shareholders' Equity
Current liabilities:
Current installments of long-term debt	$	125.4		$	67.5	$	12.2		$	—		$	205.1
Accounts payable	45.9			—		432.2			—			478.1
Intercompany payables	1,483.5			—		—			(1,483.5		)	—
Income taxes payable	—			—		14.1			—			14.1
Accrued liabilities	267.8			—		213.6			(129.1		)	352.3
Total current liabilities	1,922.6			67.5		672.1			(1,612.6		)	1,049.6
Long-term debt	1,135.2			2,480.3		12.4			—			3,627.9
Accrued pension liability	182.4			—		452.8			—			635.2
Deferred income taxes	10.7			296.2		856.6			(72.5		)	1,091.0
Long-term payables—affiliates	1,291.8			—		979.7			(2,271.5		)	—
Other liabilities	271.1			—		69.3			—			340.4
Total liabilities	4,813.8			2,844.0		3,042.9			(3,956.6		)	6,744.1
Commitments and contingencies
Shareholders' equity:
Common stock	165.2			—		14.6			(14.6		)	165.2
Additional paid-in capital	2,238.9			4,146.1		4,790.3			(8,936.4		)	2,238.9
Accumulated other comprehensive loss	(470.2		)	—		(7.2		)	7.2			(470.2		)
Retained earnings	438.9			14.1		688.1			(702.2		)	438.9
Total shareholders' equity	2,372.8			4,160.2		5,485.8			(9,646.0		)	2,372.8
Total liabilities and shareholders' equity	$	7,186.6		$	7,004.2	$	8,528.7		$	(13,602.6	)	$	9,116.9

Supplemental Guarantor Financial Information Statement of Operations

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended March 31, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor		Eliminations			Total
Sales	$	314.8		$	—		$	1,360.4	$	(108.1	)	$	1,567.1
Operating expenses:
Cost of goods sold	274.8			—			1,227.0		(108.1		)	1,393.7
Selling and administration	41.1			—			47.1		—			88.2
Restructuring charges	—			—			8.2		—			8.2
Acquisition-related costs	7.0			—			—		—			7.0
Other operating (expense) income	(0.5		)	—			0.1		—			(0.4		)
Operating income	(8.6		)	—			78.2		—			69.6
Earnings of non-consolidated affiliates	0.5			—			—		—			0.5
Equity income (loss) in subsidiaries	22.5			35.1			—		(57.6		)	—
Interest expense	12.0			40.9			0.9		(1.4		)	52.4
Interest income	0.7			—			0.9		(1.4		)	0.2
Income (loss) before taxes	3.1			(5.8		)	78.2		(57.6		)	17.9
Income tax (benefit) provision	(6.6		)	(15.2		)	26.3		—			4.5
Net income (loss)	$	9.7		$	9.4		$	51.9	$	(57.6	)	$	13.4

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended March 31, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations			Total
Sales	$	320.7		$	—		$	1,141.3		$	(113.8	)	$	1,348.2
Operating expenses:
Cost of goods sold	275.3			—			1,013.9			(113.8		)	1,175.4
Selling and administration	36.8			—			51.3			—			88.1
Restructuring charges	0.3			—			92.5			—			92.8
Acquisition-related costs	10.2			—			—			—			10.2
Other operating (expense) income	(0.5		)	—			11.4			—			10.9
Operating income (loss)	(2.4		)	—			(5.0		)	—			(7.4		)
Earnings of non-consolidated affiliates	0.2			—			—			—			0.2
Equity (loss) income in subsidiaries	(28.8		)	43.6			—			(14.8		)	—
Interest expense	10.7			38.2			1.0			(1.4		)	48.5
Interest income	0.8			—			0.9			(1.4		)	0.3
Income (loss) before taxes	(40.9		)	5.4			(5.1		)	(14.8		)	(55.4		)
Income tax (benefit) provision	(3.0		)	(13.3		)	(1.2		)	—			(17.5		)
Net (loss) income	$	(37.9	)	$	18.7		$	(3.9	)	$	(14.8	)	$	(37.9	)

Supplemental Guarantor Financial Information Statements Of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended March 31, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor		Eliminations			Total
Net income (loss)	$	9.7		$	9.4	$	51.9	$	(57.6	)	$	13.4
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net	—			—		6.0		—			6.0
Unrealized losses on derivative contracts, net	(2.0		)	—		—		—			(2.0		)
Amortization of prior service costs and actuarial losses, net	3.7			—		0.2		—			3.9
Total other comprehensive income, net of tax	1.7			—		6.2		—			7.9
Comprehensive income (loss)	$	11.4		$	9.4	$	58.1	$	(57.6	)	$	21.3

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended March 31, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Net (loss) income	$	(37.9	)	$	18.7	$	(3.9	)	$	(14.8	)	$	(37.9	)
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net	—			—		15.5			—			15.5
Unrealized gains on derivative contracts, net	3.0			—		—			—			3.0
Amortization of prior service costs and actuarial losses, net	3.3			—		0.5			—			3.8
Total other comprehensive income, net of tax	6.3			—		16.0			—			22.3
Comprehensive (loss) income	$	(31.6	)	$	18.7	$	12.1		$	(14.8	)	$	(15.6	)

Supplemental Guarantor Financial Information Statements Of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Three Months Ended March 31, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations		Total
Net operating activities	$	59.6		$	—		$	40.3		$	—	$	99.9
Investing Activities
Capital expenditures	(24.1		)	—			(58.9		)	—		(83.0		)
Net investing activities	(24.1		)	—			(58.9		)	—		(83.0		)
Financing Activities
Long-term debt:
Borrowings	500.0			1,375.0			—			—		1,875.0
Repayments	(590.2		)	(1,282.5		)	—			—		(1,872.7		)
Stock options exercised	8.8			—			—			—		8.8
Dividends paid	(33.1		)	—			—			—		(33.1		)
Debt issuance costs	(8.3		)	(2.9		)	—			—		(11.2		)
Intercompany financing activities	89.6			(89.6		)	—			—		—
Net financing activities	(33.2		)	—			—			—		(33.2		)
Effect of exchange rate changes on cash and cash equivalents	—			—			0.3			—		0.3
Net decrease in cash and cash equivalents	2.3			—			(18.3		)	—		(16.0		)
Cash and cash equivalents, beginning of period	25.2			—			159.3			—		184.5
Cash and cash equivalents, end of period	$	27.5		$	—		$	141.0		$	—	$	168.5

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Three Months Ended March 31, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations		Total
Net operating activities	$	(35.5	)	$	—		$	82.5		$	—	$	47.0
Investing Activities
Capital expenditures	(16.2		)	—			(59.9		)	—		(76.1		)
Proceeds from disposition of property, plant and equipment	—			—			0.1			—		0.1
Proceeds from disposition of affiliated companies	2.2			—			—			—		2.2
Net investing activities	(14.0		)	—			(59.8		)	—		(73.8		)
Financing Activities
Long-term debt repayments	(0.2		)	(16.9		)	—			—		(17.1		)
Dividends paid	(33.0		)	—			—			—		(33.0		)
Intercompany financing activities	(16.9		)	16.9			—			—		—
Net financing activities	(50.1		)	—			—			—		(50.1		)
Effect of exchange rate changes on cash and cash equivalents	—			—			0.5			—		0.5
Net (decrease) increase in cash and cash equivalents	(99.6		)	—			23.2			—		(76.4		)
Cash and cash equivalents, beginning of period	119.4			—			272.6			—		392.0
Cash and cash equivalents, end of period	$	19.8		$	—		$	295.8		$	—	$	315.6