SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Tables)

9 Months Ended

Sep. 30, 2017

Supplemental Guarantor Financial Information [Abstract]

Supplemental Guarantor Financial Information Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS
September 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	36.9		$	—	$	219.0		$	—		$	255.9
Receivables, net	106.0			—		623.5			—			729.5
Intercompany receivables	—			—		1,948.4			(1,948.4		)	—
Income taxes receivable	13.4			—		4.6			(2.1		)	15.9
Inventories	172.2			—		517.3			—			689.5
Other current assets	180.5			—		5.0			(158.4		)	27.1
Total current assets	509.0			—		3,317.8			(2,108.9		)	1,717.9
Property, plant and equipment, net	513.0			—		3,066.2			—			3,579.2
Investment in subsidiaries	6,155.3			3,828.7		—			(9,984.0		)	—
Deferred income taxes	140.9			—		127.0			(126.8		)	141.1
Other assets	45.5			—		1,170.1			—			1,215.6
Long-term receivables—affiliates	—			2,174.0		—			(2,174.0		)	—
Intangible assets, net	0.3			5.7		586.9			—			592.9
Goodwill	—			966.3		1,153.5			—			2,119.8
Total assets	$	7,364.0		$	6,974.7	$	9,421.5		$	(14,393.7	)	$	9,366.5
Liabilities and Shareholders' Equity
Current liabilities:
Current installments of long-term debt	$	0.7		$	68.8	$	12.2		$	—		$	81.7
Accounts payable	69.6			—		548.3			(4.4		)	613.5
Intercompany payables	1,948.4			—		—			(1,948.4		)	—
Income taxes payable	—			—		11.7			(2.1		)	9.6
Accrued liabilities	146.0			—		305.0			(156.5		)	294.5
Total current liabilities	2,164.7			68.8		877.2			(2,111.4		)	999.3
Long-term debt	944.1			2,470.1		249.3			—			3,663.5
Accrued pension liability	405.7			—		213.0			—			618.7
Deferred income taxes	—			250.5		931.8			(126.8		)	1,055.5
Long-term payables—affiliates	1,267.2			—		906.8			(2,174.0		)	—
Other liabilities	283.8			5.6		441.6			—			731.0
Total liabilities	5,065.5			2,795.0		3,619.7			(4,412.2		)	7,068.0
Commitments and contingencies
Shareholders' equity:
Common stock	166.4			—		14.6			(14.6		)	166.4
Additional paid-in capital	2,267.7			4,125.7		4,808.2			(8,933.9		)	2,267.7
Accumulated other comprehensive loss	(470.0		)	—		(5.7		)	5.7			(470.0		)
Retained earnings	334.4			54.0		984.7			(1,038.7		)	334.4
Total shareholders' equity	2,298.5			4,179.7		5,801.8			(9,981.5		)	2,298.5
Total liabilities and shareholders' equity	$	7,364.0		$	6,974.7	$	9,421.5		$	(14,393.7	)	$	9,366.5

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
September 30, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	15.5		$	—	$	111.5		$	—		$	127.0
Receivables, net	64.4			—		679.7			—			744.1
Intercompany receivables	—			8.3		1,732.5			(1,740.8		)	—
Income taxes receivable	38.5			—		11.1			(0.6		)	49.0
Inventories	163.8			—		453.2			—			617.0
Other current assets	145.5			—		4.2			(133.6		)	16.1
Total current assets	427.7			8.3		2,992.2			(1,875.0		)	1,553.2
Property, plant and equipment, net	451.4			—		3,262.5			—			3,713.9
Investment in subsidiaries	6,000.5			3,690.5		—			(9,691.0		)	—
Deferred income taxes	153.7			—		90.2			(131.7		)	112.2
Other assets	40.4			—		599.9			—			640.3
Long-term receivables—affiliates	—			2,211.1		—			(2,211.1		)	—
Intangible assets, net	0.4			5.7		647.7			—			653.8
Goodwill	—			966.3		1,153.1			—			2,119.4
Total assets	$	7,074.1		$	6,881.9	$	8,745.6		$	(13,908.8	)	$	8,792.8
Liabilities and Shareholders' Equity
Current liabilities:
Current installments of long-term debt	$	0.6		$	67.5	$	12.2		$	—		$	80.3
Accounts payable	55.4			—		456.4			(2.1		)	509.7
Intercompany payables	1,740.8			—		—			(1,740.8		)	—
Income taxes payable	—			—		13.9			(0.6		)	13.3
Accrued liabilities	158.1			—		266.8			(133.4		)	291.5
Total current liabilities	1,954.9			67.5		749.3			(1,876.9		)	894.8
Long-term debt	1,154.9			2,430.3		12.3			—			3,597.5
Accrued pension liability	141.3			—		456.4			—			597.7
Deferred income taxes	—			241.5		926.8			(131.7		)	1,036.6
Long-term payables—affiliates	1,226.0			—		985.1			(2,211.1		)	—
Other liabilities	266.3			—		69.2			—			335.5
Total liabilities	4,743.4			2,739.3		3,199.1			(4,219.7		)	6,462.1
Commitments and contingencies
Shareholders' equity:
Common stock	165.3			—		15.1			(15.1		)	165.3
Additional paid-in capital	2,242.8			4,125.7		4,750.5			(8,876.2		)	2,242.8
Accumulated other comprehensive loss	(466.7		)	—		(20.7		)	20.7			(466.7		)
Retained earnings	389.3			16.9		801.6			(818.5		)	389.3
Total shareholders' equity	2,330.7			4,142.6		5,546.5			(9,689.1		)	2,330.7
Total liabilities and shareholders' equity	$	7,074.1		$	6,881.9	$	8,745.6		$	(13,908.8	)	$	8,792.8

Supplemental Guarantor Financial Information Statement of Operations

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Nine Months Ended September 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor		Eliminations			Total
Sales	$	1,000.9		$	—		$	3,976.9	$	(329.3	)	$	4,648.5
Operating expenses:
Cost of goods sold	883.3			—			3,589.4		(329.3		)	4,143.4
Selling and administration	99.7			—			154.9		—			254.6
Restructuring charges	—			—			25.9		—			25.9
Acquisition-related costs	12.5			—			—		—			12.5
Other operating (expense) income	(7.1		)	—			7.0		—			(0.1		)
Operating (loss) income	(1.7		)	—			213.7		—			212.0
Earnings of non-consolidated affiliates	1.5			—			—		—			1.5
Equity income (loss) in subsidiaries	72.9			94.0			—		(166.9		)	—
Interest expense	33.3			123.8			5.5		(4.6		)	158.0
Interest income	4.7			—			0.9		(4.6		)	1.0
Income (loss) before taxes	44.1			(29.8		)	209.1		(166.9		)	56.5
Income tax (benefit) provision	(16.1		)	(45.7		)	58.1		—			(3.7		)
Net income (loss)	$	60.2		$	15.9		$	151.0	$	(166.9	)	$	60.2

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended September 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor		Eliminations			Total
Sales	$	348.0		$	—		$	1,321.8	$	(114.9	)	$	1,554.9
Operating expenses:
Cost of goods sold	313.8			—			1,146.7		(114.9		)	1,345.6
Selling and administration	31.1			—			55.3		—			86.4
Restructuring charges	—			—			9.2		—			9.2
Acquisition-related costs	1.1			—			—		—			1.1
Other operating (expense) income	(2.6		)	—			2.6		—			—
Operating (loss) income	(0.6		)	—			113.2		—			112.6
Earnings of non-consolidated affiliates	0.5			—			—		—			0.5
Equity income (loss) in subsidiaries	54.5			54.7			—		(109.2		)	—
Interest expense	11.9			41.0			1.5		(1.3		)	53.1
Interest income	1.7			—			—		(1.3		)	0.4
Income (loss) before taxes	44.2			13.7			111.7		(109.2		)	60.4
Income tax (benefit) provision	(8.5		)	(15.0		)	31.2		—			7.7
Net income (loss)	$	52.7		$	28.7		$	80.5	$	(109.2	)	$	52.7

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Nine Months Ended September 30, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor		Eliminations			Total
Sales	$	1,009.6		$	—		$	3,545.3	$	(390.0	)	$	4,164.9
Operating expenses:
Cost of goods sold	861.3			—			3,225.4		(390.0		)	3,696.7
Selling and administration	106.2			—			143.2		—			249.4
Restructuring charges	0.8			—			105.4		—			106.2
Acquisition-related costs	39.6			—			—		—			39.6
Other operating (expense) income	(1.7		)	—			12.2		—			10.5
Operating income	—			—			83.5		—			83.5
Earnings of non-consolidated affiliates	1.1			—			—		—			1.1
Equity (loss) income in subsidiaries	(6.2		)	94.8			—		(88.6		)	—
Interest expense	30.6			114.0			3.2		(4.2		)	143.6
Interest income	2.3			—			3.2		(4.2		)	1.3
Income (loss) before taxes	(33.4		)	(19.2		)	83.5		(88.6		)	(57.7		)
Income tax (benefit) provision	(12.0		)	(40.7		)	16.4		—			(36.3		)
Net (loss) income	$	(21.4	)	$	21.5		$	67.1	$	(88.6	)	$	(21.4	)

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended September 30, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations			Total
Sales	$	359.1		$	—		$	1,249.3		$	(155.7	)	$	1,452.7
Operating expenses:
Cost of goods sold	300.6			—			1,139.5			(155.7		)	1,284.4
Selling and administration	33.4			—			48.6			—			82.0
Restructuring charges	0.2			—			5.0			—			5.2
Acquisition-related costs	14.3			—			(1.2		)	—			13.1
Other operating (expense) income	(0.6		)	—			0.4			—			(0.2		)
Operating income	10.0			—			57.8			—			67.8
Earnings of non-consolidated affiliates	0.5			—			—			—			0.5
Equity income (loss) in subsidiaries	15.0			35.5			—			(50.5		)	—
Interest expense	9.6			38.0			1.3			(1.4		)	47.5
Interest income	0.8			—			1.1			(1.4		)	0.5
Income (loss) before taxes	16.7			(2.5		)	57.6			(50.5		)	21.3
Income tax (benefit) provision	(0.8		)	(12.5		)	17.1			—			3.8
Net income (loss)	$	17.5		$	10.0		$	40.5		$	(50.5	)	$	17.5

Supplemental Guarantor Financial Information Statements Of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Nine Months Ended September 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor		Eliminations			Total
Net income (loss)	$	60.2		$	15.9	$	151.0	$	(166.9	)	$	60.2
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net	—			—		31.7		—			31.7
Unrealized losses on derivative contracts, net	(4.4		)	—		—		—			(4.4		)
Amortization of prior service costs and actuarial losses, net	11.6			—		1.1		—			12.7
Total other comprehensive income, net of tax	7.2			—		32.8		—			40.0
Comprehensive income (loss)	$	67.4		$	15.9	$	183.8	$	(166.9	)	$	100.2

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended September 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor		Issuer		Subsidiary Non-Guarantor		Eliminations			Total
Net income (loss)	$	52.7	$	28.7	$	80.5	$	(109.2	)	$	52.7
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net	—		—		9.8		—			9.8
Unrealized gains on derivative contracts, net	1.3		—		—		—			1.3
Amortization of prior service costs and actuarial losses, net	3.6		—		0.7		—			4.3
Total other comprehensive income, net of tax	4.9		—		10.5		—			15.4
Comprehensive income (loss)	$	57.6	$	28.7	$	91.0	$	(109.2	)	$	68.1

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Nine Months Ended September 30, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor		Eliminations			Total
Net (loss) income	$	(21.4	)	$	21.5	$	67.1	$	(88.6	)	$	(21.4	)
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net	—			—		9.3		—			9.3
Unrealized gains on derivative contracts, net	3.8			—		—		—			3.8
Pension and postretirement liability adjustments, net	3.1			—		—		—			3.1
Amortization of prior service costs and actuarial losses, net	8.6			—		1.0		—			9.6
Total other comprehensive income, net of tax	15.5			—		10.3		—			25.8
Comprehensive (loss) income	$	(5.9	)	$	21.5	$	77.4	$	(88.6	)	$	4.4

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended September 30, 2016
(In millions)
(Unaudited)
	Parent Guarantor		Issuer		Subsidiary Non-Guarantor		Eliminations			Total
Net income (loss)	$	17.5	$	10.0	$	40.5	$	(50.5	)	$	17.5
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net	—		—		4.6		—			4.6
Unrealized gains on derivative contracts, net	2.6		—		—		—			2.6
Pension and postretirement liability adjustments, net	3.1		—		—		—			3.1
Amortization of prior service costs and actuarial losses, net	1.9		—		0.4		—			2.3
Total other comprehensive income, net of tax	7.6		—		5.0		—			12.6
Comprehensive income (loss)	$	25.1	$	10.0	$	45.5	$	(50.5	)	$	30.1

Supplemental Guarantor Financial Information Statements Of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Nine Months Ended September 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations		Total
Net operating activities	$	290.3		$	—		$	164.8		$	—	$	455.1
Investing Activities
Capital expenditures	(64.5		)	—			(145.5		)	—		(210.0		)
Payments under long-term supply contracts	—			—			(209.4		)	—		(209.4		)
Proceeds from disposition of property, plant and equipment	—			—			0.1			—		0.1
Net investing activities	(64.5		)	—			(354.8		)	—		(419.3		)
Financing Activities
Long-term debt:
Borrowings	620.0			1,375.0			40.0			—		2,035.0
Repayments	(590.5		)	(1,316.9		)	—			—		(1,907.4		)
Stock options exercised	18.5			—			—			—		18.5
Dividends paid	(99.6		)	—			—			—		(99.6		)
Debt issuance costs	(8.3		)	(2.9		)	—			—		(11.2		)
Intercompany financing activities	(154.2		)	(55.2		)	209.4			—		—
Net financing activities	(214.1		)	—			249.4			—		35.3
Effect of exchange rate changes on cash and cash equivalents	—			—			0.3			—		0.3
Net increase in cash and cash equivalents	11.7			—			59.7			—		71.4
Cash and cash equivalents, beginning of period	25.2			—			159.3			—		184.5
Cash and cash equivalents, end of period	$	36.9		$	—		$	219.0		$	—	$	255.9

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Nine Months Ended September 30, 2016
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations		Total
Net operating activities	$	409.0		$	—		$	(1.9	)	$	—	$	407.1
Investing Activities
Capital expenditures	(39.2		)	—			(160.2		)	—		(199.4		)
Business acquired in purchase transaction, net of cash acquired	(69.5		)	—			—			—		(69.5		)
Payments under long-term supply contracts	—			—			(175.7		)	—		(175.7		)
Proceeds from sale/leaseback of equipment	—			—			40.4			—		40.4
Proceeds from disposition of property, plant and equipment	0.1			—			0.3			—		0.4
Proceeds from disposition of affiliated companies	6.6			—			—			—		6.6
Net investing activities	(102.0		)	—			(295.2		)	—		(397.2		)
Financing Activities
Long-term debt repayments	(125.5		)	(50.6		)	—			—		(176.1		)
Stock options exercised	0.4			—			—			—		0.4
Dividends paid	(99.1		)	—			—			—		(99.1		)
Debt and equity issuance costs	—			(0.8		)	—			—		(0.8		)
Intercompany financing activities	(186.7		)	51.4			135.3			—		—
Net financing activities	(410.9		)	—			135.3			—		(275.6		)
Effect of exchange rate changes on cash and cash equivalents	—			—			0.7			—		0.7
Net decrease in cash and cash equivalents	(103.9		)	—			(161.1		)	—		(265.0		)
Cash and cash equivalents, beginning of period	119.4			—			272.6			—		392.0
Cash and cash equivalents, end of period	$	15.5		$	—		$	111.5		$	—	$	127.0