SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2018

Supplemental Guarantor Financial Information [Abstract]

Supplemental Guarantor Financial Information Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS
June 30, 2018
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	74.3		$	—	$	69.9		$	—		$	144.2
Receivables, net	109.6			—		727.6			—			837.2
Intercompany receivables	—			—		2,305.8			(2,305.8		)	—
Income taxes receivable	11.8			—		6.3			(0.3		)	17.8
Inventories, net	170.4			—		545.9			—			716.3
Other current assets	216.2			—		6.7			(175.2		)	47.7
Total current assets	582.3			—		3,662.2			(2,481.3		)	1,763.2
Property, plant and equipment, net	577.8			—		2,923.6			—			3,501.4
Investment in subsidiaries	6,737.5			4,107.6		—			(10,845.1		)	—
Deferred income taxes	28.3			1.0		40.5			(30.1		)	39.7
Other assets	24.7			—		1,144.8			—			1,169.5
Long-term receivables—affiliates	—			1,462.2		—			(1,462.2		)	—
Intangible assets, net	0.3			5.7		538.3			—			544.3
Goodwill	—			966.3		1,153.4			—			2,119.7
Total assets	$	7,950.9		$	6,542.8	$	9,462.8		$	(14,818.7	)	$	9,137.8
Liabilities and Shareholders’ Equity
Current liabilities:
Current installments of long-term debt	$	0.9		$	—	$	—		$	—		$	0.9
Accounts payable	75.7			—		609.0			(3.3		)	681.4
Intercompany payables	2,305.8			—		—			(2,305.8		)	—
Income taxes payable	—			—		15.8			(0.3		)	15.5
Accrued liabilities	116.6			—		340.8			(173.0		)	284.4
Total current liabilities	2,499.0			—		965.6			(2,482.4		)	982.2
Long-term debt	1,350.4			1,912.2		250.0			—			3,512.6
Accrued pension liability	376.2			—		226.5			—			602.7
Deferred income taxes	—			4.1		538.7			(30.1		)	512.7
Long-term payables—affiliates	640.0			—		822.2			(1,462.2		)	—
Other liabilities	322.2			5.6		436.7			—			764.5
Total liabilities	5,187.8			1,921.9		3,239.7			(3,974.7		)	6,374.7
Commitments and contingencies
Shareholders’ equity:
Common stock	167.0			—		14.6			(14.6		)	167.0
Additional paid-in capital	2,280.5			4,125.7		4,808.2			(8,933.9		)	2,280.5
Accumulated other comprehensive loss	(573.2		)	—		(1.1		)	1.1			(573.2		)
Retained earnings	888.8			495.2		1,401.4			(1,896.6		)	888.8
Total shareholders’ equity	2,763.1			4,620.9		6,223.1			(10,844.0		)	2,763.1
Total liabilities and shareholders’ equity	$	7,950.9		$	6,542.8	$	9,462.8		$	(14,818.7	)	$	9,137.8

CONDENSED CONSOLIDATING BALANCE SHEETS
December 31, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	57.1		$	—	$	161.3		$	—		$	218.4
Receivables, net	95.6			—		637.6			—			733.2
Intercompany receivables	—			—		2,093.2			(2,093.2		)	—
Income taxes receivable	11.7			—		6.3			(1.1		)	16.9
Inventories, net	155.4			—		527.2			—			682.6
Other current assets	206.2			—		5.3			(163.4		)	48.1
Total current assets	526.0			—		3,430.9			(2,257.7		)	1,699.2
Property, plant and equipment, net	544.4			—		3,031.4			—			3,575.8
Investment in subsidiaries	6,680.4			4,092.3		—			(10,772.7		)	—
Deferred income taxes	38.1			—		34.5			(36.2		)	36.4
Other assets	45.9			—		1,162.5			—			1,208.4
Long-term receivables—affiliates	—			2,132.1		—			(2,132.1		)	—
Intangible assets, net	0.3			5.7		572.5			—			578.5
Goodwill	—			966.3		1,153.7			—			2,120.0
Total assets	$	7,835.1		$	7,196.4	$	9,385.5		$	(15,198.7	)	$	9,218.3
Liabilities and Shareholders’ Equity
Current liabilities:
Current installments of long-term debt	$	0.7		$	—	$	—		$	—		$	0.7
Accounts payable	83.2			—		590.0			(3.4		)	669.8
Intercompany payables	2,093.2			—		—			(2,093.2		)	—
Income taxes payable	—			—		10.5			(1.1		)	9.4
Accrued liabilities	117.7			—		318.1			(161.4		)	274.4
Total current liabilities	2,294.8			—		918.6			(2,259.1		)	954.3
Long-term debt	839.4			2,522.2		249.7			—			3,611.3
Accrued pension liability	406.7			—		229.2			—			635.9
Deferred income taxes	—			3.0		544.4			(36.2		)	511.2
Long-term payables—affiliates	1,250.0			—		882.1			(2,132.1		)	—
Other liabilities	290.5			5.6		455.8			—			751.9
Total liabilities	5,081.4			2,530.8		3,279.8			(4,427.4		)	6,464.6
Commitments and contingencies
Shareholders’ equity:
Common stock	167.1			—		14.6			(14.6		)	167.1
Additional paid-in capital	2,280.9			4,125.7		4,808.2			(8,933.9		)	2,280.9
Accumulated other comprehensive loss	(484.6		)	—		(4.6		)	4.6			(484.6		)
Retained earnings	790.3			539.9		1,287.5			(1,827.4		)	790.3
Total shareholders’ equity	2,753.7			4,665.6		6,105.7			(10,771.3		)	2,753.7
Total liabilities and shareholders’ equity	$	7,835.1		$	7,196.4	$	9,385.5		$	(15,198.7	)	$	9,218.3

CONDENSED CONSOLIDATING BALANCE SHEETS
June 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	28.9		$	—	$	155.6		$	—		$	184.5
Receivables, net	101.7			—		680.5			—			782.2
Intercompany receivables	—			2.9		2,052.9			(2,055.8		)	—
Income taxes receivable	18.8			—		7.2			(5.1		)	20.9
Inventories, net	178.2			—		488.0			—			666.2
Other current assets	183.1			—		7.0			(152.9		)	37.2
Total current assets	510.7			2.9		3,391.2			(2,213.8		)	1,691.0
Property, plant and equipment, net	509.1			—		3,118.3			—			3,627.4
Investment in subsidiaries	6,082.7			3,774.0		—			(9,856.7		)	—
Deferred income taxes	151.8			—		97.8			(124.4		)	125.2
Other assets	46.9			—		578.7			—			625.6
Long-term receivables—affiliates	—			2,204.3		—			(2,204.3		)	—
Intangible assets, net	0.4			5.7		599.5			—			605.6
Goodwill	—			966.3		1,153.2			—			2,119.5
Total assets	$	7,301.6		$	6,953.2	$	8,938.7		$	(14,399.2	)	$	8,794.3
Liabilities and Shareholders’ Equity
Current liabilities:
Current installments of long-term debt	$	0.8		$	68.8	$	12.1		$	—		$	81.7
Accounts payable	58.0			—		603.7			(5.6		)	656.1
Intercompany payables	2,055.8			—		—			(2,055.8		)	—
Income taxes payable	—			—		12.2			(5.1		)	7.1
Accrued liabilities	116.1			—		296.6			(151.2		)	261.5
Total current liabilities	2,230.7			68.8		924.6			(2,217.7		)	1,006.4
Long-term debt	822.3			2,487.4		209.2			—			3,518.9
Accrued pension liability	421.7			—		203.9			—			625.6
Deferred income taxes	—			237.9		924.1			(124.4		)	1,037.6
Long-term payables—affiliates	1,284.4			—		919.9			(2,204.3		)	—
Other liabilities	283.9			8.1		55.2			—			347.2
Total liabilities	5,043.0			2,802.2		3,236.9			(4,546.4		)	6,535.7
Commitments and contingencies
Shareholders’ equity:
Common stock	166.3			—		14.6			(14.6		)	166.3
Additional paid-in capital	2,262.7			4,125.7		4,808.2			(8,933.9		)	2,262.7
Accumulated other comprehensive loss	(485.4		)	—		(8.6		)	8.6			(485.4		)
Retained earnings	315.0			25.3		887.6			(912.9		)	315.0
Total shareholders’ equity	2,258.6			4,151.0		5,701.8			(9,852.8		)	2,258.6
Total liabilities and shareholders’ equity	$	7,301.6		$	6,953.2	$	8,938.7		$	(14,399.2	)	$	8,794.3

Supplemental Guarantor Financial Information Statement of Operations

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended June 30, 2018
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations			Total
Sales	$	369.5		$	—		$	1,465.9		$	(107.0	)	$	1,728.4
Operating expenses:
Cost of goods sold	332.9			—			1,234.8			(107.0		)	1,460.7
Selling and administration	53.2			—			57.1			—			110.3
Restructuring charges	—			—			6.4			—			6.4
Acquisition-related costs	0.3			—			—			—			0.3
Other operating (expense) income	(3.2		)	—			3.2			—			—
Operating (loss) income	(20.1		)	—			170.8			—			150.7
Losses of non-consolidated affiliates	(21.1		)	—			—			—			(21.1		)
Equity income in subsidiaries	98.5			88.1			—			(186.6		)	—
Interest expense	18.1			37.8			6.8			(1.6		)	61.1
Interest income	1.9			—			0.1			(1.6		)	0.4
Non-operating pension income (expense)	6.7			—			(1.3		)	—			5.4
Income before taxes	47.8			50.3			162.8			(186.6		)	74.3
Income tax (benefit) provision	(10.8		)	(9.2		)	35.7			—			15.7
Net income	$	58.6		$	59.5		$	127.1		$	(186.6	)	$	58.6

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Six Months Ended June 30, 2018
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations			Total
Sales	$	722.2		$	—		$	2,932.9		$	(216.4	)	$	3,438.7
Operating expenses:
Cost of goods sold	644.9			—			2,560.9			(216.4		)	2,989.4
Selling and administration	100.3			—			110.5			—			210.8
Restructuring charges	—			—			10.4			—			10.4
Acquisition-related costs	0.6			—			—			—			0.6
Other operating income	2.6			—			5.5			—			8.1
Operating (loss) income	(21.0		)	—			256.6			—			235.6
Losses of non-consolidated affiliates	(20.6		)	—			—			—			(20.6		)
Equity income in subsidiaries	126.9			110.3			—			(237.2		)	—
Interest expense	35.1			79.1			13.7			(3.1		)	124.8
Interest income	2.9			—			1.0			(3.1		)	0.8
Non-operating pension income (expense)	13.4			—			(2.6		)	—			10.8
Income before taxes	66.5			31.2			241.3			(237.2		)	101.8
Income tax (benefit) provision	(13.0		)	(19.1		)	54.4			—			22.3
Net income	$	79.5		$	50.3		$	186.9		$	(237.2	)	$	79.5

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended June 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations			Total
Sales	$	338.1		$	—		$	1,294.7		$	(106.3	)	$	1,526.5
Operating expenses:
Cost of goods sold	299.5			—			1,214.7			(106.3		)	1,407.9
Selling and administration	32.3			—			52.5			—			84.8
Restructuring charges	—			—			8.5			—			8.5
Acquisition-related costs	4.4			—			—			—			4.4
Other operating (expense) income	(4.0		)	—			4.3			—			0.3
Operating (loss) income	(2.1		)	—			23.3			—			21.2
Earnings of non-consolidated affiliates	0.5			—			—			—			0.5
Equity (loss) income in subsidiaries	(7.8		)	4.2			—			3.6			—
Interest expense	9.4			41.9			3.1			(1.9		)	52.5
Interest income	2.3			—			—			(1.9		)	0.4
Non-operating pension income (expense)	9.6			—			(1.0		)	—			8.6
Income (loss) before taxes	(6.9		)	(37.7		)	19.2			3.6			(21.8		)
Income tax (benefit) provision	(1.0		)	(15.5		)	0.6			—			(15.9		)
Net (loss) income	$	(5.9	)	$	(22.2	)	$	18.6		$	3.6		$	(5.9	)

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Six Months Ended June 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations			Total
Sales	$	652.9		$	—		$	2,655.1		$	(214.4	)	$	3,093.6
Operating expenses:
Cost of goods sold	579.1			—			2,440.7			(214.4		)	2,805.4
Selling and administration	78.1			—			99.6			—			177.7
Restructuring charges	—			—			16.7			—			16.7
Acquisition-related costs	11.4			—			—			—			11.4
Other operating (expense) income	(4.5		)	—			4.4			—			(0.1		)
Operating (loss) income	(20.2		)	—			102.5			—			82.3
Earnings of non-consolidated affiliates	1.0			—			—			—			1.0
Equity income in subsidiaries	18.4			39.3			—			(57.7		)	—
Interest expense	21.4			82.8			4.0			(3.3		)	104.9
Interest income	3.0			—			0.9			(3.3		)	0.6
Non-operating pension income (expense)	19.1			—			(2.0		)	—			17.1
Income (loss) before taxes	(0.1		)	(43.5		)	97.4			(57.7		)	(3.9		)
Income tax (benefit) provision	(7.6		)	(30.7		)	26.9			—			(11.4		)
Net income (loss)	$	7.5		$	(12.8	)	$	70.5		$	(57.7	)	$	7.5

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended June 30, 2018
(In millions)
(Unaudited)
	Parent Guarantor			Issuer		Subsidiary Non-Guarantor			Eliminations			Total
Net income	$	58.6		$	59.5	$	127.1		$	(186.6	)	$	58.6
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net	—			—		(26.1		)	—			(26.1		)
Unrealized losses on derivative contracts, net	(2.4		)	—		—			—			(2.4		)
Amortization of prior service costs and actuarial losses, net	7.7			—		0.4			—			8.1
Total other comprehensive income (loss), net of tax	5.3			—		(25.7		)	—			(20.4		)
Comprehensive income	$	63.9		$	59.5	$	101.4		$	(186.6	)	$	38.2

Supplemental Guarantor Financial Information Statements Of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended June 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor		Eliminations		Total
Net (loss) income	$	(5.9	)	$	(22.2	)	$	18.6	$	3.6	$	(5.9	)
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net	—			—			15.9		—		15.9
Unrealized losses on derivative contracts, net	(3.7		)	—			—		—		(3.7		)
Amortization of prior service costs and actuarial losses, net	4.3			—			0.2		—		4.5
Total other comprehensive income, net of tax	0.6			—			16.1		—		16.7
Comprehensive (loss) income	$	(5.3	)	$	(22.2	)	$	34.7	$	3.6	$	10.8

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Six Months Ended June 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor		Eliminations			Total
Net income (loss)	$	7.5		$	(12.8	)	$	70.5	$	(57.7	)	$	7.5
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net	—			—			21.9		—			21.9
Unrealized losses on derivative contracts, net	(5.7		)	—			—		—			(5.7		)
Amortization of prior service costs and actuarial losses, net	8.0			—			0.4		—			8.4
Total other comprehensive income, net of tax	2.3			—			22.3		—			24.6
Comprehensive income (loss)	$	9.8		$	(12.8	)	$	92.8	$	(57.7	)	$	32.1

Supplemental Guarantor Financial Information Statements Of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2018
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations			Total
Net operating activities	$	157.2		$	—		$	107.1		$	—		$	264.3
Investing Activities
Capital expenditures	(72.3		)	—			(103.7		)	—			(176.0		)
Proceeds from disposition of property, plant and equipment	—			—			0.1			—			0.1
Distributions from consolidated subsidiaries, net	95.0			95.0			—			(190.0		)	—
Net investing activities	22.7			95.0			(103.6		)	(190.0		)	(175.9		)
Financing Activities
Long-term debt:
Borrowings	550.0			—			20.0			—			570.0
Repayments	(20.4		)	(610.0		)	(19.7		)	—			(650.1		)
Common stock repurchased and retired	(9.1		)	—			—			—			(9.1		)
Stock options exercised	2.2			—			—			—			2.2
Dividends paid	(66.9		)	(95.0		)	(95.0		)	190.0			(66.9		)
Debt issuance costs	(8.5		)	—			—			—			(8.5		)
Intercompany financing activities	(610.0		)	610.0			—			—			—
Net financing activities	(162.7		)	(95.0		)	(94.7		)	190.0			(162.4		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.2		)	—			(0.2		)
Net increase (decrease) in cash and cash equivalents	17.2			—			(91.4		)	—			(74.2		)
Cash and cash equivalents, beginning of period	57.1			—			161.3			—			218.4
Cash and cash equivalents, end of period	$	74.3		$	—		$	69.9		$	—		$	144.2

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2017
(In millions)
(Unaudited)
	Parent Guarantor			Issuer			Subsidiary Non-Guarantor			Eliminations		Total
Net operating activities	$	124.4		$	—		$	103.0		$	—	$	227.4
Investing Activities
Capital expenditures	(43.9		)	—			(107.0		)	—		(150.9		)
Proceeds from disposition of property, plant and equipment	—			—			0.1			—		0.1
Net investing activities	(43.9		)	—			(106.9		)	—		(150.8		)
Financing Activities
Long-term debt:
Borrowings	500.0			1,375.0			—			—		1,875.0
Repayments	(590.4		)	(1,299.7		)	—			—		(1,890.1		)
Stock options exercised	15.8			—			—			—		15.8
Dividends paid	(66.3		)	—			—			—		(66.3		)
Debt issuance costs	(8.3		)	(2.9		)	—			—		(11.2		)
Intercompany financing activities	72.4			(72.4		)	—			—		—
Net financing activities	(76.8		)	—			—			—		(76.8		)
Effect of exchange rate changes on cash and cash equivalents	—			—			0.2			—		0.2
Net increase (decrease) in cash and cash equivalents	3.7			—			(3.7		)	—		—
Cash and cash equivalents, beginning of period	25.2			—			159.3			—		184.5
Cash and cash equivalents, end of period	$	28.9		$	—		$	155.6		$	—	$	184.5