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Supplemental Guarantor Condensed Financial Information (Tables)
 6 Months Ended
Jun. 27, 2014
Quarterly Financial Information Disclosure [Abstract]  
Condensed Statements Of Operations
Condensed Statements of Operations and Comprehensive Income (Loss) Information
Six Fiscal Months Ended June 27, 2014
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
1,018.4

 
$
1,943.0

 
$
—

 
$
2,961.4

Intercompany
33.1

 
145.9

 
112.0

 
(291.0
)
 
—

 
33.1

 
1,164.3

 
2,055.0

 
(291.0
)
 
2,961.4

Cost of sales
—

 
1,030.6

 
1,924.8

 
(257.9
)
 
2,697.5

Gross profit
33.1

 
133.7

 
130.2

 
(33.1
)
 
263.9

Selling, general and administrative expenses
27.2

 
88.6

 
153.6

 
(33.1
)
 
236.3

Goodwill impairment charge
—

 
—

 
155.1

 
—

 
155.1

Indefinite-lived intangible asset impairment charge
—

 
2.1

 
93.4

 
—

 
95.5

Operating income (loss)
5.9

 
43.0

 
(271.9
)
 
—

 
(223.0
)
Other income (expense)
—

 
(2.7
)
 
(91.4
)
 
—

 
(94.1
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(31.4
)
 
(32.4
)
 
(27.9
)
 
34.6

 
(57.1
)
Interest income
27.3

 
7.3

 
2.2

 
(34.6
)
 
2.2

 
(4.1
)
 
(25.1
)
 
(25.7
)
 
—

 
(54.9
)
Income (loss) before income taxes
1.8

 
15.2

 
(389.0
)
 
—

 
(372.0
)
Income tax (provision) benefit
(1.6
)
 
(3.1
)
 
14.0

 
—

 
9.3

Equity in net earnings of affiliated companies and subsidiaries
(340.4
)
 
(352.5
)
 
0.4

 
693.1

 
0.6

Net income (loss) including non-controlling interest
(340.2
)
 
(340.4
)
 
(374.6
)
 
693.1

 
(362.1
)
Less: net income (loss) attributable to non-controlling interest
—

 
—

 
(21.9
)
 
—

 
(21.9
)
Net income (loss) attributable to Company common shareholders
$
(340.2
)
 
$
(340.4
)
 
$
(352.7
)
 
$
693.1

 
$
(340.2
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(340.2
)
 
$
(340.4
)
 
$
(374.6
)
 
$
693.1

 
$
(362.1
)
Currency translation gain (loss)
0.6

 
0.6

 
(3.9
)
 
0.9

 
(1.8
)
Defined benefit plan adjustments, net of tax
5.0

 
5.0

 
3.6

 
(8.5
)
 
5.1

Comprehensive income (loss), net of tax
(334.6
)
 
(334.8
)
 
(374.9
)
 
685.5

 
(358.8
)
Comprehensive income (loss) attributable to non-controlling interest, net of tax
—

 
—

 
(24.2
)
 
—

 
(24.2
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(334.6
)
 
$
(334.8
)
 
$
(350.7
)
 
$
685.5

 
$
(334.6
)

Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended June 28, 2013
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
584.9

 
$
1,074.2

 
$
—

 
$
1,659.1

Intercompany
15.7

 
70.9

 
72.2

 
(158.8
)
 
—

 
15.7

 
655.8

 
1,146.4

 
(158.8
)
 
1,659.1

Cost of sales
—

 
572.9

 
1,036.5

 
(143.1
)
 
1,466.3

Gross profit
15.7

 
82.9

 
109.9

 
(15.7
)
 
192.8

Selling, general and administrative expenses
12.7

 
49.6

 
75.4

 
(15.7
)
 
122.0

Operating income (loss)
3.0

 
33.3

 
34.5

 
—

 
70.8

Other income (expense)
—

 
(5.7
)
 
(9.9
)
 
—

 
(15.6
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(21.4
)
 
(28.1
)
 
(11.7
)
 
30.6

 
(30.6
)
Interest income
26.7

 
3.9

 
1.5

 
(30.6
)
 
1.5

 
5.3

 
(24.2
)
 
(10.2
)
 
—

 
(29.1
)
Income (loss) before income taxes
8.3

 
3.4

 
14.4

 
—

 
26.1

Income tax (provision) benefit
(3.1
)
 
(6.5
)
 
(7.9
)
 
—

 
(17.5
)
Equity in net earnings of affiliated companies and subsidiaries
3.1

 
6.2

 
0.2

 
(9.1
)
 
0.4

Net income (loss) including non-controlling interest
8.3

 
3.1

 
6.7

 
(9.1
)
 
9.0

Less: preferred stock dividends
0.1

 
—

 
—

 
—

 
0.1

Less: net income (loss) attributable to non-controlling interest
—

 
—

 
0.7

 
—

 
0.7

Net income (loss) attributable to Company common shareholders
$
8.2

 
$
3.1

 
$
6.0

 
$
(9.1
)
 
$
8.2

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
8.3

 
$
3.1

 
$
6.7

 
$
(9.1
)
 
$
9.0

Currency translation gain (loss)
(32.0
)
 
(32.0
)
 
(46.0
)
 
70.3

 
(39.7
)
Defined benefit plan adjustments, net of tax
0.6

 
0.6

 
0.6

 
(1.1
)
 
0.7

Change in fair value of derivatives, net of tax
0.8

 
0.8

 
—

 
(0.9
)
 
0.7

Comprehensive income (loss), net of tax
(22.3
)
 
(27.5
)
 
(38.7
)
 
59.2

 
(29.3
)
Comprehensive income (loss) attributable to non-controlling interest, net of tax
—

 
—

 
(7.0
)
 
—

 
(7.0
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(22.3
)
 
$
(27.5
)
 
$
(31.7
)
 
$
59.2

 
$
(22.3
)

Condensed Statements of Operations and Comprehensive Income (Loss) Information
Six Fiscal Months Ended June 28, 2013
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
1,195.1

 
$
2,007.7

 
$
—

 
$
3,202.8

Intercompany
29.5

 
113.1

 
175.6

 
(318.2
)
 
—

 
29.5

 
1,308.2

 
2,183.3

 
(318.2
)
 
3,202.8

Cost of sales
—

 
1,147.3

 
1,994.5

 
(288.7
)
 
2,853.1

Gross profit
29.5

 
160.9

 
188.8

 
(29.5
)
 
349.7

Selling, general and administrative expenses
23.6

 
99.3

 
152.7

 
(29.5
)
 
246.1

Operating income (loss)
5.9

 
61.6

 
36.1

 
—

 
103.6

Other income (expense)
—

 
(7.0
)
 
(61.3
)
 
—

 
(68.3
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(42.3
)
 
(55.0
)
 
(23.0
)
 
60.2

 
(60.1
)
Interest income
52.6

 
7.4

 
3.2

 
(60.2
)
 
3.0

 
10.3

 
(47.6
)
 
(19.8
)
 
—

 
(57.1
)
Income (loss) before income taxes
16.2

 
7.0

 
(45.0
)
 
—

 
(21.8
)
Income tax (provision) benefit
(6.1
)
 
(8.5
)
 
0.9

 
—

 
(13.7
)
Equity in net earnings of affiliated companies and subsidiaries
(47.5
)
 
(46.0
)
 
0.3

 
93.8

 
0.6

Net income (loss) including non-controlling interest
(37.4
)
 
(47.5
)
 
(43.8
)
 
93.8

 
(34.9
)
Less: preferred stock dividends
0.2

 
—

 
—

 
—

 
0.2

Less: net income (loss) attributable to non-controlling interest
—

 
—

 
2.5

 
—

 
2.5

Net income (loss) attributable to Company common shareholders
$
(37.6
)
 
$
(47.5
)
 
$
(46.3
)
 
$
93.8

 
$
(37.6
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(37.4
)
 
$
(47.5
)
 
$
(43.8
)
 
$
93.8

 
$
(34.9
)
Currency translation gain (loss)
(36.2
)
 
(36.2
)
 
(40.3
)
 
69.4

 
(43.3
)
Defined benefit plan adjustments, net of tax
3.3

 
3.3

 
0.9

 
(4.1
)
 
3.4

Change in fair value of derivatives, net of tax
0.2

 
0.2

 
—

 
(0.2
)
 
0.2

Comprehensive income (loss), net of tax
(70.1
)
 
(80.2
)
 
(83.2
)
 
158.9

 
(74.6
)
Comprehensive income (loss) attributable to non-controlling interest, net of tax
—

 
—

 
(4.5
)
 
—

 
(4.5
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(70.1
)
 
$
(80.2
)
 
$
(78.7
)
 
$
158.9

 
$
(70.1
)
Condensed Balance Sheets
Condensed Balance Sheets Information
June 27, 2014
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
1.7

 
$
297.4

 
$
—

 
$
299.1

Receivables, net of allowances
—

 
329.9

 
929.6

 
—

 
1,259.5

Inventories
—

 
491.8

 
846.6

 
—

 
1,338.4

Deferred income taxes
—

 
23.1

 
26.2

 
—

 
49.3

Prepaid expenses and other
1.8

 
26.7

 
90.7

 
—

 
119.2

Total current assets
1.8

 
873.2

 
2,190.5

 
—

 
3,065.5

Property, plant and equipment, net
0.6

 
216.1

 
812.8

 
—

 
1,029.5

Deferred income taxes
—

 
—

 
16.4

 
—

 
16.4

Intercompany accounts
1,266.9

 
446.6

 
37.3

 
(1,750.8
)
 
—

Investment in subsidiaries
714.0

 
1,018.2

 
—

 
(1,732.2
)
 
—

Goodwill
—

 
13.8

 
13.5

 
—

 
27.3

Intangible assets, net
—

 
12.5

 
66.3

 
—

 
78.8

Unconsolidated affiliated companies
—

 
8.1

 
11.2

 
—

 
19.3

Other non-current assets
12.9

 
36.7

 
35.4

 
—

 
85.0

Total assets
$
1,996.2

 
$
2,625.2

 
$
3,183.4

 
$
(3,483.0
)
 
$
4,321.8

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
159.1

 
$
771.1

 
$
—

 
$
930.2

Accrued liabilities
12.3

 
88.6

 
291.4

 
—

 
392.3

Current portion of long-term debt
125.0

 
—

 
297.2

 
—

 
422.2

Total current liabilities
137.3

 
247.7

 
1,359.7

 
—

 
1,744.7

Long-term debt
777.9

 
298.4

 
56.2

 
—

 
1,132.5

Deferred income taxes
175.9

 
(16.7
)
 
53.2

 
—

 
212.4

Intercompany accounts
0.1

 
1,303.6

 
447.1

 
(1,750.8
)
 
—

Other liabilities
2.0

 
78.2

 
158.0

 
—

 
238.2

Total liabilities
1,093.2

 
1,911.2

 
2,074.2

 
(1,750.8
)
 
3,327.8

Redeemable non-controlling interest
—

 
—

 
17.5

 
—

 
17.5

Total Company shareholders’ equity
903.0

 
714.0

 
1,018.2

 
(1,732.2
)
 
903.0

Non-controlling interest
—

 
—

 
73.5

 
—

 
73.5

Total liabilities, redeemable non-controlling interest and equity
$
1,996.2

 
$
2,625.2

 
$
3,183.4

 
$
(3,483.0
)
 
$
4,321.8








Condensed Balance Sheets Information
December 31, 2013
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
0.2

 
$
2.2

 
$
416.4

 
$
—

 
$
418.8

Receivables, net of allowances
—

 
258.5

 
913.2

 
—

 
1,171.7

Inventories
—

 
438.0

 
801.6

 
—

 
1,239.6

Deferred income taxes
—

 
23.3

 
26.9

 
—

 
50.2

Prepaid expenses and other
1.9

 
32.7

 
91.6

 
—

 
126.2

Total current assets
2.1

 
754.7

 
2,249.7

 
—

 
3,006.5

Property, plant and equipment, net
0.6

 
231.9

 
859.5

 
—

 
1,092.0

Deferred income taxes
—

 
—

 
15.8

 
—

 
15.8

Intercompany accounts
1,305.5

 
507.7

 
35.8

 
(1,849.0
)
 
—

Investment in subsidiaries
1,050.4

 
1,332.3

 
—

 
(2,382.7
)
 
—

Goodwill
—

 
13.7

 
170.9

 
—

 
184.6

Intangible assets, net
—

 
15.5

 
167.4

 
—

 
182.9

Unconsolidated affiliated companies
—

 
8.0

 
11.0

 
—

 
19.0

Other non-current assets
13.7

 
33.8

 
30.6

 
—

 
78.1

Total assets
$
2,372.3

 
$
2,897.6

 
$
3,540.7

 
$
(4,231.7
)
 
$
4,578.9

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
118.5

 
$
752.1

 
$
—

 
$
870.6

Accrued liabilities
13.8

 
103.9

 
317.2

 
—

 
434.9

Current portion of long-term debt
—

 
—

 
250.3

 
—

 
250.3

Total current liabilities
13.8

 
222.4

 
1,319.6

 
—

 
1,555.8

Long-term debt
902.0

 
225.0

 
9.6

 
—

 
1,136.6

Deferred income taxes
175.2

 
(19.4
)
 
78.0

 
—

 
233.8

Intercompany accounts
—

 
1,339.7

 
509.3

 
(1,849.0
)
 
—

Other liabilities
1.1

 
79.5

 
175.3

 
—

 
255.9

Total liabilities
1,092.1

 
1,847.2

 
2,091.8

 
(1,849.0
)
 
3,182.1

Redeemable non-controlling interest
—

 
—

 
17.0

 
—

 
17.0

Total Company shareholders’ equity
1,280.2

 
1,050.4

 
1,332.3

 
(2,382.7
)
 
1,280.2

Non-controlling interest
—

 
—

 
99.6

 
—

 
99.6

Total liabilities, redeemable non-controlling interest and equity
$
2,372.3

 
$
2,897.6

 
$
3,540.7

 
$
(4,231.7
)
 
$
4,578.9
Condensed Statements Of Cash Flows
Condensed Statements of Cash Flows Information
Six Fiscal Months Ended June 27, 2014
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities
$
1.4

 
$
(43.6
)
 
$
(68.1
)
 
$
—

 
$
(110.3
)
Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(13.4
)
 
(32.1
)
 
—

 
(45.5
)
Proceeds from properties sold
—

 
0.6

 
0.2

 
—

 
0.8

Other
—

 
(1.9
)
 
2.0

 
—

 
0.1

Net cash flows of investing activities
—

 
(14.7
)
 
(29.9
)
 
—

 
(44.6
)
Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(17.8
)
 
—

 
—

 
—

 
(17.8
)
Excess tax benefits (deficiencies) from stock-based compensation
(0.1
)
 
—

 
—

 
—

 
(0.1
)
Intercompany accounts
46.9

 
(16.0
)
 
(30.9
)
 
—

 
—

Proceeds from debt
—

 
643.6

 
505.4

 
—

 
1,149.0

Repayments of debt
—

 
(570.2
)
 
(406.2
)
 
—

 
(976.4
)
Purchase of non-controlling interest
—

 
(1.5
)
 
1.2

 
 
 
(0.3
)
Dividends paid to non-controlling interest
—

 
—

 
(3.1
)
 
—

 
(3.1
)
Repurchase of common shares
(30.7
)
 
—

 
—

 


 
(30.7
)
Proceeds from exercise of stock options
0.1

 
—

 
—

 
—

 
0.1

Net cash flows of financing activities
(1.6
)
 
55.9

 
66.4

 
—

 
120.7

Effect of exchange rate changes on cash and cash equivalents
—

 
1.9

 
(87.4
)
 
—

 
(85.5
)
Increase (decrease) in cash and cash equivalents
(0.2
)
 
(0.5
)
 
(119.0
)
 
—

 
(119.7
)
Cash and cash equivalents – beginning of period
0.2

 
2.2

 
416.4

 
—

 
418.8

Cash and cash equivalents – end of period
$
—

 
$
1.7

 
$
297.4

 
$
—

 
$
299.1




Condensed Statements of Cash Flows Information
Six Fiscal Months Ended June 28, 2013
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities
$
32.5

 
$
(12.9
)
 
$
(187.3
)
 
$
—

 
$
(167.7
)
Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(15.3
)
 
(30.1
)
 
—

 
(45.4
)
Proceeds from properties sold
—

 
0.1

 
—

 
—

 
0.1

Acquisitions, net of cash acquired
—

 
(2.3
)
 
(4.6
)
 
—

 
(6.9
)
Other
—

 
(24.1
)
 
24.2

 
—

 
0.1

Net cash flows of investing activities
—

 
(41.6
)
 
(10.5
)
 
—

 
(52.1
)
Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(9.1
)
 
—

 
—

 
—

 
(9.1
)
Excess tax benefits (deficiencies) from stock-based compensation
0.1

 
—

 
—

 
—

 
0.1

Intercompany accounts
(70.3
)
 
33.0

 
37.3

 
—

 
—

Proceeds from debt
—

 
14.6

 
597.2

 
—

 
611.8

Repayments of debt
—

 
(0.8
)
 
(513.1
)
 
—

 
(513.9
)
Dividends paid to non-controlling interests
—

 
—

 
(3.2
)
 
—

 
(3.2
)
Purchase of treasury shares
(19.0
)
 
—

 
—

 
—

 
(19.0
)
Proceeds from exercise of stock options
0.6

 
—

 
—

 
—

 
0.6

Net cash flows of financing activities
(97.7
)
 
46.8

 
118.2

 
—

 
67.3

Effect of exchange rate changes on cash and cash equivalents
—

 
(9.5
)
 
(16.5
)
 
—

 
(26.0
)
Increase (decrease) in cash and cash equivalents
(65.2
)
 
(17.2
)
 
(96.1
)
 
—

 
(178.5
)
Cash and cash equivalents - beginning of period
65.3

 
44.2

 
512.8

 
 
 
622.3

Cash and cash equivalents - end of period
$
0.1

 
$
27.0

 
$
416.7

 
$
—

 
$
443.8
Intercompany Cash And Non-Cash Transactions
A summary of cash and non-cash transactions of the Parent Company’s intercompany account is provided below for the six fiscal months ended June 27, 2014 and the twelve months ended December 31, 2013:
(in millions)
June 27, 2014
 
December 31, 2013
Beginning Balance
$
1,305.5

 
$
1,566.7

Non-cash transactions
 
 
 
Deferred tax
—

 
7.1

Equity based awards
8.2

 
11.7

Foreign currency and other
—

 
—

Cash transactions
(46.9
)
 
(280.0
)
Ending Balance
$
1,266.8

 
$
1,305.5
Parent Company Long-Term Financing Arrangements
At June 27, 2014 and December 31, 2013, the Parent Company was party to the following long-term financing arrangements:
(in millions)
June 27, 2014
 
December 31, 2013
5.75% Senior Notes due 2022
$
600.0

 
$
600.0

Subordinated Convertible Notes due 2029
429.5

 
429.5

Debt discount on Subordinated Convertible Notes due 2029
(260.6
)
 
(261.5
)
0.875% Convertible Notes due 2013
—

 
—

Debt discount on 0.875% Convertible Notes due 2013
—

 
—

Senior Floating Rate Notes
125.0

 
125.0

Other
9.0

 
9.0

Total Parent Company debt
902.9

 
902.0

Less current maturities
125.0

 
—

Parent Company Long-term debt
$
777.9

 
$
902.0
Parent Company Debt Maturities
(in millions)
Q2 2015
 
Q2 2016
 
Q2 2017
 
Q2 2018
 
Q2 2019
Debt maturities twelve month period ending
$
125.0

 
$
—

 
$
—

 
$
—

 
$
—