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Separate Financial Information of Subsidiary Guarantors of Indebtedness
 3 Months Ended
Dec. 31, 2013
Separate Financial Information of Subsidiary Guarantors of Indebtedness Disclosure Abstract  
Separate Financial Information of Subsidiary Guarantors of Indebtedness
Separate Financial Information of Subsidiary Guarantors of Indebtedness

The Senior Notes are jointly, severally and unconditionally guaranteed on a senior unsecured basis by all of the Company’s wholly-owned existing and future subsidiaries that from time to time guarantee obligations under the Company’s senior credit facility, with certain exceptions (the “Guarantors”). The following condensed supplemental consolidating financial information reflects the summarized financial information of Oshkosh, the Guarantors on a combined basis and Oshkosh’s non-guarantor subsidiaries on a combined basis (in millions):

Condensed Consolidating Statement of Income and Comprehensive Income
For the Three Months Ended December 31, 2013
 
Oshkosh
Corporation
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales
$
526.5

 
$
817.5

 
$
207.9

 
$
(21.7
)
 
$
1,530.2

Cost of sales
477.5

 
658.3

 
161.0

 
(21.7
)
 
1,275.1

Gross income
49.0

 
159.2

 
46.9

 
—

 
255.1

Selling, general and administrative expenses
61.1

 
56.4

 
27.2

 
—

 
144.7

Amortization of purchased intangibles
0.1

 
9.9

 
3.9

 
—

 
13.9

Operating income (loss)
(12.2
)
 
92.9

 
15.8

 
—

 
96.5

Interest expense
(60.4
)
 
(12.4
)
 
(0.9
)
 
57.5

 
(16.2
)
Interest income
0.8

 
14.6

 
42.6

 
(57.5
)
 
0.5

Miscellaneous, net
9.6

 
(29.4
)
 
18.1

 
—

 
(1.7
)
Income (loss) from continuing operations before income taxes
(62.2
)
 
65.7

 
75.6

 
—

 
79.1

Provision for (benefit from) income taxes
(19.2
)
 
21.6

 
22.3

 
—

 
24.7

Income (loss) from continuing operations before equity in earnings of affiliates
(43.0
)
 
44.1

 
53.3

 
—

 
54.4

Equity in earnings of consolidated subsidiaries
97.9

 
16.2

 
42.4

 
(156.5
)
 
—

Equity in earnings of unconsolidated affiliates
—

 
—

 
0.5

 
—

 
0.5

Income from continuing operations
54.9

 
60.3

 
96.2

 
(156.5
)
 
54.9

Discontinued operations, net of tax
—

 
—

 
—

 
—

 
—

Net income
54.9

 
60.3

 
96.2

 
(156.5
)
 
54.9

Other comprehensive income (loss), net of tax
3.9

 
(1.7
)
 
5.4

 
(3.7
)
 
3.9

Comprehensive income
$
58.8

 
$
58.6

 
$
101.6

 
$
(160.2
)
 
$
58.8



Condensed Consolidating Statement of Income and Comprehensive Income
For the Three Months Ended December 31, 2012
 
Oshkosh
Corporation
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales
$
858.4

 
$
731.5

 
$
190.2

 
$
(30.3
)
 
$
1,749.8

Cost of sales
769.2

 
597.1

 
167.7

 
(30.2
)
 
1,503.8

Gross income
89.2

 
134.4

 
22.5

 
(0.1
)
 
246.0

Selling, general and administrative expenses
71.8

 
74.0

 
5.5

 
—

 
151.3

Amortization of purchased intangibles
0.1

 
9.9

 
4.4

 
—

 
14.4

Operating income
17.3

 
50.5

 
12.6

 
(0.1
)
 
80.3

Interest expense
(50.8
)
 
(14.0
)
 
(1.1
)
 
49.5

 
(16.4
)
Interest income
0.6

 
10.0

 
41.4

 
(49.5
)
 
2.5

Miscellaneous, net
9.1

 
(27.7
)
 
18.9

 
—

 
0.3

Income (loss) from continuing operations before income taxes
(23.8
)
 
18.8

 
71.8

 
(0.1
)
 
66.7

Provision for (benefit from) income taxes
(7.4
)
 
5.9

 
22.5

 
—

 
21.0

Income (loss) from continuing operations before equity in earnings of affiliates
(16.4
)
 
12.9

 
49.3

 
(0.1
)
 
45.7

Equity in earnings of consolidated subsidiaries
62.9

 
17.0

 
11.8

 
(91.7
)
 
—

Equity in earnings of unconsolidated affiliates
—

 
—

 
0.6

 
—

 
0.6

Income from continuing operations
46.5

 
29.9

 
61.7

 
(91.8
)
 
46.3

Discontinued operations, net of tax
—

 
0.2

 
—

 
—

 
0.2

Net income
46.5

 
30.1

 
61.7

 
(91.8
)
 
46.5

Other comprehensive income (loss), net of tax
9.6

 
—

 
8.6

 
(8.6
)
 
9.6

Comprehensive income
$
56.1

 
$
30.1

 
$
70.3

 
$
(100.4
)
 
$
56.1

 
 
 
 
 


 
 
 
 


Condensed Consolidating Balance Sheet
As of December 31, 2013
 
Oshkosh
Corporation
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
539.7

 
$
4.8

 
$
14.2

 
$
—

 
$
558.7

Receivables, net
179.2

 
397.2

 
157.3

 
(40.2
)
 
693.5

Inventories, net
164.2

 
414.7

 
244.6

 
—

 
823.5

Other current assets
113.3

 
51.9

 
25.0

 
—

 
190.2

Total current assets
996.4

 
868.6

 
441.1

 
(40.2
)
 
2,265.9

Investment in and advances to consolidated subsidiaries
2,295.8

 
(645.0
)
 
3,582.7

 
(5,233.5
)
 
—

Intangible assets, net
2.1

 
1,056.6

 
685.7

 
—

 
1,744.4

Other long-term assets
168.4

 
147.6

 
143.4

 
—

 
459.4

Total assets
$
3,462.7

 
$
1,427.8

 
$
4,852.9

 
$
(5,273.7
)
 
$
4,469.7

 
 
 
 
 
 
 
 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
166.0

 
$
207.9

 
$
96.3

 
$
(33.9
)
 
$
436.3

Customer advances
80.8

 
223.5

 
2.4

 
—

 
306.7

Other current liabilities
185.4

 
167.3

 
89.1

 
(6.3
)
 
435.5

Total current liabilities
432.2

 
598.7

 
187.8

 
(40.2
)
 
1,178.5

Long-term debt, less current maturities
873.8

 
—

 
—

 
—

 
873.8

Other long-term liabilities
123.9

 
121.9

 
138.8

 
—

 
384.6

Shareholders' equity
2,032.8

 
707.2

 
4,526.3

 
(5,233.5
)
 
2,032.8

Total liabilities and shareholders' equity
$
3,462.7

 
$
1,427.8

 
$
4,852.9

 
$
(5,273.7
)
 
$
4,469.7


Condensed Consolidating Balance Sheet
As of September 30, 2013
 
Oshkosh
Corporation
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
711.7

 
$
2.7

 
$
19.1

 
$
—

 
$
733.5

Receivables, net
200.9

 
452.8

 
180.8

 
(40.2
)
 
794.3

Inventories, net
195.3

 
391.3

 
236.5

 
(1.1
)
 
822.0

Other current assets
130.7

 
52.1

 
20.5

 
0.3

 
203.6

Total current assets
1,238.6

 
898.9

 
456.9

 
(41.0
)
 
2,553.4

Investment in and advances to consolidated subsidiaries
2,188.2

 
(594.0
)
 
3,479.2

 
(5,073.4
)
 
—

Intangible assets, net
2.2

 
1,067.6

 
685.9

 
—

 
1,755.7

Other long-term assets
168.7

 
153.0

 
134.9

 
—

 
456.6

Total assets
$
3,597.7

 
$
1,525.5

 
$
4,756.9

 
$
(5,114.4
)
 
$
4,765.7

 
 
 
 
 
 
 
 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
216.9

 
$
256.6

 
$
90.9

 
$
(32.7
)
 
$
531.7

Customer advances
69.8

 
221.3

 
3.3

 
—

 
294.4

Other current liabilities
191.1

 
270.4

 
101.4

 
(8.3
)
 
554.6

Total current liabilities
477.8

 
748.3

 
195.6

 
(41.0
)
 
1,380.7

Long-term debt, less current maturities
890.0

 
—

 
—

 
—

 
890.0

Other long-term liabilities
122.1

 
125.5

 
139.6

 
—

 
387.2

Shareholders' equity
2,107.8

 
651.7

 
4,421.7

 
(5,073.4
)
 
2,107.8

Total liabilities and shareholders' equity
$
3,597.7

 
$
1,525.5

 
$
4,756.9

 
$
(5,114.4
)
 
$
4,765.7



Condensed Consolidating Statement of Cash Flows
For the Three Months Ended December 31, 2013
 
Oshkosh
Corporation
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net cash provided (used) by operating activities
$
(4.6
)
 
$
(61.7
)
 
$
71.0

 
$
—

 
$
4.7

 
 
 
 
 
 
 
 
 
 
Investing activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(6.2
)
 
(3.8
)
 
(4.3
)
 
—

 
(14.3
)
Additions to equipment held for rental
—

 
—

 
(9.5
)
 
—

 
(9.5
)
Intercompany investing
(5.2
)
 
74.2

 
(62.3
)
 
(6.7
)
 
—

Other investing activities
(2.2
)
 
—

 
0.3

 
—

 
(1.9
)
Net cash provided (used) by investing activities
(13.6
)
 
70.4

 
(75.8
)
 
(6.7
)
 
(25.7
)
 
 
 
 
 
 
 
 
 
 
Financing activities:
 
 
 
 
 
 
 
 
 
Repurchases of Common Stock
(145.5
)
 
—

 
—

 
—

 
(145.5
)
Repayment of long-term debt
(16.2
)
 
—

 
—

 
—

 
(16.2
)
Proceeds from exercise of stock options
16.1

 
—

 
—

 
—

 
16.1

Dividends paid
(12.8
)
 
—

 
—

 
—

 
(12.8
)
Intercompany financing
(0.3
)
 
(6.5
)
 
0.1

 
6.7

 
—

Other financing activities
4.9

 
—

 
—

 
—

 
4.9

Net cash provided (used) by financing activities
(153.8
)
 
(6.5
)
 
0.1

 
6.7

 
(153.5
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
—

 
(0.1
)
 
(0.2
)
 
—

 
(0.3
)
Increase (decrease) in cash and cash equivalents
(172.0
)
 
2.1

 
(4.9
)
 
—

 
(174.8
)
Cash and cash equivalents at beginning of period
711.7

 
2.7

 
19.1

 
—

 
733.5

Cash and cash equivalents at end of period
$
539.7

 
$
4.8

 
$
14.2

 
$
—

 
$
558.7


Condensed Consolidating Statement of Cash Flows
For the Three Months Ended December 31, 2012

 
Oshkosh
Corporation
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net cash provided (used) by operating activities
$
(79.3
)
 
$
34.3

 
$
90.1

 
$
—

 
$
45.1

 
 
 
 
 
 
 
 
 
 
Investing activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(3.0
)
 
(2.9
)
 
(2.4
)
 
—

 
(8.3
)
Additions to equipment held for rental
—

 
—

 
(1.1
)
 
—

 
(1.1
)
Intercompany investing
130.7

 
(27.2
)
 
(96.2
)
 
(7.3
)
 
—

Other investing activities
—

 
—

 
3.5

 
—

 
3.5

Net cash provided (used) by investing activities
127.7

 
(30.1
)
 
(96.2
)
 
(7.3
)
 
(5.9
)
 
 
 
 
 
 
 
 
 
 
Financing activities:
 
 
 
 
 
 
 
 
 
Repurchases of Common Stock
(125.1
)
 
—

 
—

 
—

 
(125.1
)
Proceeds from exercise of stock options
0.7

 
—

 
—

 
—

 
0.7

Intercompany financing
(0.3
)
 
(6.5
)
 
(0.5
)
 
7.3

 
—

Other financing activities
—

 
—

 
—

 
—

 
—

Net cash provided (used) by financing activities
(124.7
)
 
(6.5
)
 
(0.5
)
 
7.3

 
(124.4
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
—

 
—

 
0.2

 
—

 
0.2

Increase (decrease) in cash and cash equivalents
(76.3
)
 
(2.3
)
 
(6.4
)
 
—

 
(85.0
)
Cash and cash equivalents at beginning of period
500.0

 
5.5

 
35.2

 
—

 
540.7

Cash and cash equivalents at end of period
$
423.7

 
$
3.2


$
28.8


$
—

 
$
455.7