Guarantor Subsidiaries

9 Months Ended

Oct. 01, 2011

Guarantor Subsidiaries [Abstract]

Guarantor Subsidiaries

Note 14 – Guarantor Subsidiaries

The 2017 Notes and 2018 Notes issued by our wholly owned subsidiary, Cott Beverages, Inc., are unconditionally guaranteed on a senior basis pursuant to guarantees by Cott Corporation and certain other wholly owned subsidiaries (the "Guarantor Subsidiaries"). The guarantees of the Guarantor Subsidiaries are subject to release in limited circumstances only upon the occurrence of certain customary conditions.

We have not presented separate financial statements and separate disclosures have not been provided concerning subsidiary guarantors because management has determined such information is not material to the holders of the above-mentioned notes.

The following supplemental financial information sets forth on an unconsolidated basis, our Balance Sheets, Statements of Operations and Cash Flows for Cott Corporation, Cott Beverages Inc., Guarantor Subsidiaries and our other subsidiaries (the "Non-guarantor Subsidiaries"). The supplemental financial information reflects our investments and those of Cott Beverages Inc. in their respective subsidiaries using the equity method of accounting.

Condensed Consolidating Statements of Operations

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended October 1, 2011
	Cott Corporation		Cott Beverages Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
Revenue, net	$	55.7	$	241.7		$	277.7		$	45.5		$	(9.3	)	$	611.3
Cost of sales		43.9		217.0			251.3			40.8			(9.3	)		543.7
Gross profit		11.8		24.7			26.4			4.7			—			67.6
Selling, general and administrative expenses		7.0		15.3			12.7			3.1			—			38.1
Loss on disposal of property, plant & equipment		—		0.4			0.1			—			—			0.5
Operating income		4.8		9.0			13.6			1.6			—			29.0
Other expense (income), net		1.2		(1.0	)		0.5			0.6			—			1.3
Intercompany interest (income) expense, net		—		(2.1	)		2.1			—			—			—
Interest expense, net		0.1		13.7			0.5			0.1			—			14.4
Income (loss) before income tax expense (benefit) and equity income (loss)		3.5		(1.6	)		10.5			0.9			—			13.3
Income tax expense (benefit)		1.0		(2.2	)		(2.8	)		—			—			(4.0	)
Equity income		13.7		1.2			1.9			—			(16.8	)		—
Net income	$	16.2	$	1.8		$	15.2		$	0.9		$	(16.8	)	$	17.3
Less: Net income attributable to non-controlling interests		—		—			—			1.1			—			1.1
Net income (loss) attributed to Cott Corporation	$	16.2	$	1.8		$	15.2		$	(0.2	)	$	(16.8	)	$	16.2

Condensed Consolidating Statements of Operations

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended October 2, 2010
	Cott Corporation			Cott Beverages Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Elimination Entries			Consolidated
Revenue	$	49.3		$	235.7		$	177.1		$	35.1		$	(10.3	)	$	486.9
Cost of sales		39.0			204.8			156.1			30.2			(10.3	)		419.8
Gross profit		10.3			30.9			21.0			4.9			—			67.1
Selling, general and administrative expenses		8.0			23.7			12.7			2.9			—			47.3
Loss on disposal of property, plant & equipment		—			0.1			—			0.2			—			0.3
Operating income		2.3			7.1			8.3			1.8			—			19.5
Other expense (income), net		0.6			0.9			—			(0.2	)		—			1.3
Intercompany interest (income) expense, net		(1.8	)		1.8			—			—			—			—
Interest expense , net		—			10.2			0.1			—			—			10.3
Income (loss) before income tax expense (benefit) and equity income (loss)		3.5			(5.8	)		8.2			2.0			—			7.9
Income tax expense (benefit)		2.1			(1.8	)		0.3			0.1			—			0.7
Equity income (loss)		6.9			1.4			(0.1	)		—			(8.2	)		—
Net income (loss)	$	8.3		$	(2.6	)	$	7.8		$	1.9		$	(8.2	)	$	7.2
Less: Net income attributable to non-controlling interests		—			—			—			1.4			—			1.4
Net income (loss) attributed to Cott Corporation	$	8.3		$	(2.6	)	$	7.8		$	0.5		$	(8.2	)	$	5.8

Condensed Consolidating Statements of Operations

(in millions of U.S. dollars)

Unaudited

	For the Nine Months Ended October 1, 2011
	Cott Corporation			Cott Beverages Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Elimination Entries			Consolidated
Revenue, net	$	158.4		$	711.0		$	818.6		$	125.9	$	(28.5	)	$	1,785.4
Cost of sales		126.4			625.8			724.7			111.8		(28.5	)		1,560.2
Gross profit		32.0			85.2			93.9			14.1		—			225.2
Selling, general and administrative expenses		24.8			55.8			37.8			9.9		—			128.3
Loss on disposal of property, plant & equipment		—			0.4			0.1			—		—			0.5
Operating income		7.2			29.0			56.0			4.2		—			96.4
Other expense (income), net		1.3			(0.3	)		0.6			0.5		—			2.1
Intercompany interest (income) expense, net		(3.5	)		(1.9	)		5.4			—		—			—
Interest expense, net		0.3			41.3			1.6			0.2		—			43.4
Income (loss) before income tax expense (benefit) and equity income (loss)		9.1			(10.1	)		48.4			3.5		—			50.9
Income tax expense (benefit)		2.1			(1.0	)		(3.0	)		0.2		—			(1.7	)
Equity income (loss)		42.5			3.4			(5.3	)		—		(40.6	)		—
Net income (loss)	$	49.5		$	(5.7	)	$	46.1		$	3.3	$	(40.6	)	$	52.6
Less: Net income attributable to non-controlling interests		—			—			—			3.1		—			3.1
Net income (loss) attributed to Cott Corporation	$	49.5		$	(5.7	)	$	46.1		$	0.2	$	(40.6	)	$	49.5

Condensed Consolidating Statements of Operations

(in millions of U.S. dollars)

Unaudited

	For the Nine Months Ended October 2, 2010
	Cott Corporation			Cott Beverages Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Elimination Entries			Consolidated
Revenue	$	151.4		$	689.9		$	358.7		$	106.1		$	(31.6	)	$	1,274.5
Cost of sales		118.8			586.6			311.1			91.8			(31.6	)		1,076.7
Gross profit		32.6			103.3			47.6			14.3			—			197.8
Selling, general and administrative expenses		25.6			50.8			27.6			10.2			—			114.2
Loss on disposal of property, plant & equipment		—			0.2			—			0.2			—			0.4
Restructuring		—			(0.5	)		—			—			—			(0.5	)
Operating income		7.0			52.8			20.0			3.9			—			83.7
Other expense (income), net		2.5			1.0			0.4			(0.3	)		—			3.6
Intercompany interest (income) expense, net		(5.1	)		8.2			(3.1	)		—			—			—
Interest expense, net		0.2			22.0			0.3			0.1			—			22.6
Income before income tax expense and equity income		9.4			21.6			22.4			4.1			—			57.5
Income tax expense		4.2			7.5			1.8			0.4			—			13.9
Equity income		36.9			4.6			21.3			—			(62.8	)		—
Net income	$	42.1		$	18.7		$	41.9		$	3.7		$	(62.8	)	$	43.6
Less: Net income attributable to non-controlling interests		—			—			—			4.0			—			4.0
Net income (loss) attributed to Cott Corporation	$	42.1		$	18.7		$	41.9		$	(0.3	)	$	(62.8	)	$	39.6

Consolidating Balance Sheets

(in millions of U.S. dollars)

Unaudited

	As of October 1, 2011
	Cott Corporation			Cott Beverages Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
ASSETS
Current assets
Cash & cash equivalents	$	2.3		$	1.9		$	17.4		$	6.6		$	—		$	28.2
Accounts receivable, net of allowance		23.6			95.8			172.0			16.0			(59.7	)		247.7
Income taxes recoverable		—			11.6			0.9			0.1			—			12.6
Inventories		22.0			77.6			108.9			7.5			—			216.0
Prepaid expenses and other assets		2.9			20.3			7.0			0.1			—			30.3
Total current assets		50.8			207.2			306.2			30.3			(59.7	)		534.8
Property, plant & equipment		46.9			176.8			248.4			11.2			—			483.3
Goodwill		26.3			4.5			98.3			—			—			129.1
Intangibles and other assets		1.3			107.3			220.6			19.6			—			348.8
Deferred income taxes		1.9			—			—			—			—			1.9
Other tax receivable		2.5			—			0.3			—			—			2.8
Due from affiliates		30.7			167.9			102.5			41.9			(343.0	)		—
Investments in subsidiaries		477.0			365.6			517.3			178.4			(1,538.3	)		—
Total assets	$	637.4		$	1,029.3		$	1,493.6		$	281.4		$	(1,941.0	)	$	1,500.7
LIABILITIES AND EQUITY
Current liabilities
Short-term borrowings	$	—		$	—		$	—		$	—		$	—		$	—
Current maturities of long-term debt		0.1			3.7			0.1			0.4			—			4.3
Contingent consideration earn-out		—			8.5			—			—			—			8.5
Accounts payable and accrued liabilities		23.8			122.3			141.2			14.2			(59.7	)		241.8
Total current liabilities		23.9			134.5			141.3			14.6			(59.7	)		254.6
Long-term debt		0.2			599.2			1.3			1.8			—			602.5
Deferred income taxes		—			30.8			7.8			0.7			—			39.3
Other long-term liabilities		0.3			3.6			16.6			—			—			20.5
Due to affiliates		42.9			101.3			170.6			28.2			(343.0	)		—
Total liabilities		67.3			869.4			337.6			45.3			(402.7	)		916.9
Equity
Capital stock, no par		395.9			518.3			1,361.2			175.1			(2,054.6	)		395.9
Treasury stock		(2.1	)		—			—			—			—			(2.1	)
Additional paid-in-capital		41.9			—			—			—			—			41.9
Retained earnings (deficit)		156.0			(354.1	)		(301.4	)		(40.7	)		696.2			156.0
Accumulated other comprehensive (loss) income		(21.6	)		(4.3	)		96.2			88.0			(179.9	)		(21.6	)
Total Cott Corporation equity		570.1			159.9			1,156.0			222.4			(1,538.3	)		570.1
Non-controlling interests		—			—			—			13.7			—			13.7
Total equity		570.1			159.9			1,156.0			236.1			(1,538.3	)		583.8
Total liabilities and equity	$	637.4		$	1,029.3		$	1,493.6		$	281.4		$	(1,941.0	)	$	1,500.7

Consolidating Balance Sheets

(in millions of U.S. dollars)

	As of January 1, 2011
	Cott Corporation			Cott Beverages Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
ASSETS
Current assets
Cash & cash equivalents	$	7.8		$	9.1		$	26.0		$	5.3		$	—		$	48.2
Accounts receivable, net of allowance		108.6			151.6			128.6			17.3			(192.5	)		213.6
Income taxes recoverable		—			1.3			(1.3	)		0.3			—			0.3
Inventories		18.1			66.1			124.6			6.7			—			215.5
Prepaid expenses and other assets		3.6			19.3			8.1			1.7			—			32.7
Total current assets		138.1			247.4			286.0			31.3			(192.5	)		510.3
Property, plant & equipment		50.0			180.4			259.5			13.9			—			503.8
Goodwill		27.4			4.5			98.3			—			—			130.2
Intangibles and other assets		1.3			114.8			233.6			21.4			—			371.1
Deferred income taxes		3.7			—			—			(1.2	)		—			2.5
Other tax receivable		2.5			7.6			1.2			—			—			11.3
Due from affiliates		241.8			166.9			220.9			41.9			(671.5	)		—
Investments in subsidiaries		198.4			351.5			322.7			161.0			(1,033.6	)		—
Total assets	$	663.2		$	1,073.1		$	1,422.2		$	268.3		$	(1,897.6	)	$	1,529.2
LIABILITIES AND EQUITY
Current liabilities
Short-term borrowings	$	—		$	7.9		$	—		$	—		$	—		$	7.9
Current maturities of long-term debt		0.1			5.4			0.1			0.4			—			6.0
Contingent consideration earn-out		—			32.2			—			—			—			32.2
Accounts payable and accrued liabilities		97.3			171.8			185.9			14.1			(192.5	)		276.6
Total current liabilities		97.4			217.3			186.0			14.5			(192.5	)		322.7
Long-term debt		—			601.9			1.4			2.5			(0.3	)		605.5
Deferred income taxes		—			31.8			10.7			1.1			—			43.6
Other long-term liabilities		—			5.4			16.9			—			(0.1	)		22.2
Due to affiliates		43.2			219.6			377.2			31.7			(671.7	)		—
Total liabilities		140.6			1,076.0			592.2			49.8			(864.6	)		994.0
Equity
Capital stock, no par		395.6			354.4			1,182.6			175.0			(1,712.0	)		395.6
Treasury stock		(3.2	)		—			—			—			—			(3.2	)
Additional paid-in-capital		40.7			0.4			—			—			(0.3	)		40.8
Retained earnings (deficit)		106.4			(350.4	)		(352.0	)		(36.4	)		738.9			106.5
Accumulated other comprehensive (loss) income		(16.9	)		(7.3	)		(0.6	)		66.9			(59.6	)		(17.5	)
Total Cott Corporation equity		522.6			(2.9	)		830.0			205.5			(1,033.0	)		522.2
Non-controlling interests		—			—			—			13.0			—			13.0
Total equity		522.6			(2.9	)		830.0			218.5			(1,033.0	)		535.2
Total liabilities and equity	$	663.2		$	1,073.1		$	1,422.2		$	268.3		$	(1,897.6	)	$	1,529.2

Consolidating Statements of Condensed Cash Flows

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended October 1, 2011
	Cott Corporation			Cott Beverages Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
Operating Activities
Net income	$	16.2		$	1.8		$	15.2		$	0.9		$	(16.8	)	$	17.3
Depreciation & amortization		1.5			8.8			12.1			1.6			—			24.0
Amortization of financing fees		0.1			0.9			0.1			—			—			1.1
Share-based compensation expense		—			(1.6	)		—			—			—			(1.6	)
Increase (decrease) in deferred income taxes		0.5			(1.7	)		(2.8	)		(0.2	)		—			(4.2	)
Loss on disposal of property, plant & equipment		—			0.4			0.1			—			—			0.5
Contract termination payments		(0.8	)		(2.3	)		—			—			—			(3.1	)
Equity (loss) income, net of distributions		(14.0	)		(1.3	)		(1.4	)		—			16.7			—
Intercompany transactions		8.9			5.1			—			—			(14.0	)		—
Other non-cash items		—			(0.1	)		—			—			—			(0.1	)
Net change in operating assets and liabilities		(12.0	)		206.6			(174.9	)		(3.8	)		14.1			30.0
Net cash provided by (used in) operating activities		0.4			216.6			(151.6	)		(1.5	)		—			63.9
Investing Activities
Acquisition		—			(25.7	)		—			—			—			(25.7	)
Additions to property, plant & equipment		(1.3	)		(5.7	)		(1.1	)		—			—			(8.1	)
Additions to intangibles and other assets		—			(0.9	)		(0.4	)		(0.1	)		—			(1.4	)
Proceeds from sale of property, plant & equipment		—			0.1			—			—			—			0.1
Other investing activities		—			(0.1	)		—			—			—			(0.1	)
Advances to affiliates		—			—			162.5			5.1			(167.6	)		—
Net cash (used in) provided by investing activities		(1.3	)		(32.3	)		161.0			5.0			(167.6	)		(35.2	)
Financing Activities
Payments of long-term debt		—			(1.6	)		—			(0.2	)		—			(1.8	)
Borrowings under ABL		—			80.7			—			—			—			80.7
Payments under ABL		—			(100.7	)		—			—			—			(100.7	)
Advances from affiliates		(5.1	)		(162.5	)		—			—			167.6			—
Distributions to non-controlling interests		—			—			—			(1.7	)		—			(1.7	)
Exercise of options		—			0.2			—			—			—			0.2
Net cash (used in) provided by financing activities		(5.1	)		(183.9	)		—			(1.9	)		167.6			(23.3	)
Effect of exchange rate changes on cash		(0.4	)		—			(0.4	)		(0.4	)		—			(1.2	)
Net (decrease) increase in cash & cash equivalents		(6.4	)		0.4			9.0			1.2			—			4.2
Cash & cash equivalents, beginning of period		8.7			1.5			8.4			5.4			—			24.0
Cash & cash equivalents, end of period	$	2.3		$	1.9		$	17.4		$	6.6		$	—		$	28.2

Consolidating Statements of Condensed Cash Flows

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended October 2, 2010
	Cott Corporation			Cott Beverages Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Elimination Entries			Consolidated
Operating Activities
Net income (loss)	$	8.3		$	(2.6	)	$	7.8		$	1.9		$	(8.2	)	$	7.2
Depreciation & amortization		1.5			8.6			7.5			1.5			—			19.1
Amortization of financing fees		0.1			0.4			0.1			—			—			0.6
Share-based compensation expense		—			1.1			—			—			—			1.1
Increase (decrease) in deferred income taxes		—			9.8			(0.1	)		—			—			9.7
Equity income (loss), net of distributions		6.9			1.4			(0.1	)		—			(8.2	)		—
Intercompany transactions		2.5			3.0			—			—			(5.5	)		—
Lease contract termination payments		—			(0.6	)		—			—			—			(0.6	)
Other non-cash items		0.5			(0.1	)		(0.3	)		—			—			0.1
Net change in operating assets and liabilities		(3.3	)		20.5			(13.0	)		(0.3	)		21.9			25.8
Net cash provided by operating activities		16.5			41.5			1.9			3.1			—			63.0
Investing Activities
Acquisitions		—			(507.7	)		—			—			—			(507.7	)
Additions to property, plant & equipment		(1.1	)		(6.9	)		(3.4	)		—			—			(11.4	)
Additions to intangibles and other assets		—			(0.2	)		—			—			—			(0.2	)
Proceeds from disposal of property, plant & equipment		—			(0.1	)		0.1			0.5			—			0.5
Advances to affiliates		—			—			(3.2	)		(2.1	)		5.3			—
Net cash used in investing activities		(1.1	)		(514.9	)		(6.5	)		(1.6	)		5.3			(518.8	)
Financing Activities
Payments of long-term debt		—			(1.1	)		—			(0.1	)		—			(1.2	)
Issuance of long-term debt		—			375.0			—			—			—			375.0
Borrowings under ABL		—			148.8			16.9			—			—			165.7
Payments under ABL		—			(106.7	)		(19.5	)		—			—			(126.2	)
Advances from affiliates		2.1			3.2			—			—			(5.3	)		—
Distributions to non-controlling interests		—			—			—			(2.8	)		—			(2.8	)
Issuance of common shares, net of offering fees		71.1			—			—			—			—			71.1
Intercompany investments		(89.8	)		71.1			18.7			—			—			—
Financing fees		—			(14.0	)		—			—			—			(14.0	)
Net cash (used in) provided by financing activities		(16.6	)		476.3			16.1			(2.9	)		(5.3	)		467.6
Effect of exchange rate on cash		0.5			—			0.2			0.1			—			0.8
Net (decrease) increase in cash & cash equivalents		(0.7	)		2.9			11.7			(1.3	)		—			12.6
Cash & cash equivalents, beginning of period		9.7			1.6			2.7			6.3			—			20.3
Cash & cash equivalents, end of period	$	9.0		$	4.5		$	14.4		$	5.0		$	—		$	32.9

Consolidating Statements of Condensed Cash Flows

(in millions of U.S. dollars)

Unaudited

	For the Nine Months Ended October 1, 2011
	Cott Corporation			Cott Beverages Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
Operating Activities
Net income (loss)	$	49.5		$	(5.7	)	$	46.1		$	3.3		$	(40.6	)	$	52.6
Depreciation & amortization		4.5			26.1			36.2			4.6			—			71.4
Amortization of financing fees		0.2			2.5			0.2			—			—			2.9
Share-based compensation expense		1.0			0.6			0.6			—			—			2.2
Increase (decrease) in deferred income taxes		1.4			(0.5	)		(3.0	)		(0.2	)		—			(2.3	)
Loss on disposal of property, plant & equipment		—			0.4			0.1			—			—			0.5
Contract termination payments		(0.8	)		(2.3	)		—			—			—			(3.1	)
Equity (loss) income, net of distributions		(42.8	)		(3.5	)		5.8			—			40.5			—
Intercompany transactions		15.8			7.8			—			—			(23.6	)		—
Other non-cash items		—			1.7			—			—			—			1.7
Net change in operating assets and liabilities		(28.8	)		185.0			(242.7	)		(3.5	)		23.7			(66.3	)
Net cash provided by (used in) operating activities		—			212.1			(156.7	)		4.2			—			59.6
Investing Activities
Acquisition		—			(25.7	)		—			—			—			(25.7	)
Additions to property, plant & equipment		(3.5	)		(19.9	)		(8.0	)		—			—			(31.4	)
Additions to intangibles and other assets		1.4			(3.5	)		(0.5	)		(1.3	)		—			(3.9	)
Proceeds from sale of property, plant & equipment		—			0.1			—			—			—			0.1
Other investing activities		—			(1.8	)		—			—			—			(1.8	)
Advances to affiliates		—			—			156.1			3.2			(159.3	)		—
Net cash (used in) provided by investing activities		(2.1	)		(50.8	)		147.6			1.9			(159.3	)		(62.7	)
Financing Activities
Payments of long-term debt		—			(4.8	)		—			(0.4	)		—			(5.2	)
Borrowings under ABL		—			224.1			—			—			—			224.1
Payments under ABL		—			(231.9	)		—			—			—			(231.9	)
Advances from affiliates		(3.2	)		(156.1	)		—			—			159.3			—
Distributions to non-controlling interests		—			—			—			(4.2	)		—			(4.2	)
Exercise of options		—			0.3			—			—			—			0.3
Financing fees		—			(0.1	)		—			—			—			(0.1	)
Net cash used in financing activities		(3.2	)		(168.5	)		—			(4.6	)		159.3			(17.0	)
Effect of exchange rate changes on cash		(0.2	)		—			0.5			(0.2	)		—			0.1
Net (decrease) increase in cash & cash equivalents		(5.5	)		(7.2	)		(8.6	)		1.3			—			(20.0	)
Cash & cash equivalents, beginning of period		7.8			9.1			26.0			5.3			—			48.2
Cash & cash equivalents, end of period	$	2.3		$	1.9		$	17.4		$	6.6		$	—		$	28.2

Consolidating Statements of Condensed Cash Flows

(in millions of U.S. dollars)

Unaudited

	For the Nine Months Ended October 2, 2010
	Cott Corporation			Cott Beverages Inc.			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Elimination Entries			Consolidated
Operating Activities
Net income	$	42.1		$	18.7		$	41.9		$	3.7		$	(62.8	)	$	43.6
Depreciation & amortization		4.7			26.7			14.1			4.4			—			49.9
Amortization of financing fees		0.3			1.2			0.1			—			—			1.6
Share-based compensation expense		0.6			2.1			0.1			—			—			2.8
Increase (decrease) in deferred income taxes		—			9.8			(0.2	)		—			—			9.6
Equity loss, net of distributions		(36.9	)		(4.6	)		(21.3	)		—			62.8			—
Intercompany transactions		6.8			5.7			—			—			(12.5	)		—
Lease contract termination payments		—			(5.4	)		—			—			—			(5.4	)
Other non-cash items		2.6			1.7			—			—			—			4.3
Net change in operating assets and liabilities		(18.5	)		10.9			(13.0	)		4.2			12.5			(3.9	)
Net cash provided by operating activities		1.7			66.8			21.7			12.3			—			102.5
Investing Activities
Acquisitions		—			(507.7	)		—			—			—			(507.7	)
Additions to property, plant and equipment		(4.2	)		(15.8	)		(7.8	)		(1.7	)		—			(29.5	)
Additions to intangibles and other assets		—			(3.6	)		—			—			—			(3.6	)
Proceeds from disposal of property, plant & equipment		—			0.2			0.2			0.5			—			0.9
Advances to affiliates		21.0			—			(9.2	)		(4.5	)		(7.3	)		—
Net cash provided by (used in) investing activities		16.8			(526.9	)		(16.8	)		(5.7	)		(7.3	)		(539.9	)
Financing Activities
Payments of long-term debt		0.1			(17.1	)		—			(0.3	)		—			(17.3	)
Issuance of long-term debt		—			375.0			—			—			—			375.0
Borrowings under ABL		—			248.3			59.4			—			—			307.7
Payments under ABL		—			(218.1	)		(59.7	)		—			—			(277.8	)
Advances from affiliates		4.5			9.2			(21.0	)		—			7.3			—
Distributions to non-controlling interests		—			—			—			(5.5	)		—			(5.5	)
Issuance of common shares, net of offering fees		71.1			—			—			—			—			71.1
Intercompany investments		(89.8	)		71.1			18.7			—			—			—
Financing fees		—			(14.2	)		—			—			—			(14.2	)
Net cash (used in) provided by financing activities		(14.1	)		454.2			(2.6	)		(5.8	)		7.3			439.0
Effect of exchange rate on cash		0.4			—			(0.1	)		0.1			—			0.4
Net increase (decrease) in cash & cash equivalents		4.8			(5.9	)		2.2			0.9			—			2.0
Cash & cash equivalents, beginning of period		4.2			10.4			12.2			4.1			—			30.9
Cash & cash equivalents, end of period	$	9.0		$	4.5		$	14.4		$	5.0		$	—		$	32.9