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Supplemental Guarantor Condensed Financial Information (Tables)
 9 Months Ended
Sep. 26, 2014
Quarterly Financial Information Disclosure [Abstract]  
Condensed Statements Of Operations
Condensed Statements of Operations and Comprehensive Income (Loss) Information
Nine Fiscal Months Ended September 26, 2014
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
1,530.4

 
$
2,902.7

 
$
—

 
$
4,433.1

Intercompany
45.2

 
229.0

 
158.6

 
(432.8
)
 
—

 
45.2

 
1,759.4

 
3,061.3

 
(432.8
)
 
4,433.1

Cost of sales
—

 
1,548.2

 
2,982.0

 
(387.6
)
 
4,142.6

Gross profit
45.2

 
211.2

 
79.3

 
(45.2
)
 
290.5

Selling, general and administrative expenses
37.1

 
121.6

 
224.7

 
(45.2
)
 
338.2

Goodwill impairment charge
—

 
—

 
155.1

 
—

 
155.1

Indefinite-lived intangible asset impairment charge
—

 
2.1

 
96.7

 
—

 
98.8

Operating income (loss)
8.1

 
87.5

 
(397.2
)
 
—

 
(301.6
)
Other income (expense)
(1.5
)
 
8.3

 
(118.2
)
 
—

 
(111.4
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(47.0
)
 
(49.3
)
 
(41.4
)
 
52.1

 
(85.6
)
Interest income
41.2

 
10.9

 
3.0

 
(52.1
)
 
3.0

 
(5.8
)
 
(38.4
)
 
(38.4
)
 
—

 
(82.6
)
Income (loss) before income taxes
0.8

 
57.4

 
(553.8
)
 
—

 
(495.6
)
Income tax (provision) benefit
(0.9
)
 
2.3

 
12.4

 
—

 
13.8

Equity in net earnings of affiliated companies and subsidiaries
(464.3
)
 
(524.0
)
 
0.5

 
988.7

 
0.9

Net income (loss) including non-controlling interest
(464.4
)
 
(464.3
)
 
(540.9
)
 
988.7

 
(480.9
)
Less: net income (loss) attributable to non-controlling interest
—

 
—

 
(16.5
)
 
—

 
(16.5
)
Net income (loss) attributable to Company common shareholders
$
(464.4
)
 
$
(464.3
)
 
$
(524.4
)
 
$
988.7

 
$
(464.4
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(464.4
)
 
$
(464.3
)
 
$
(540.9
)
 
$
988.7

 
$
(480.9
)
Currency translation gain (loss)
(54.0
)
 
(54.0
)
 
(34.4
)
 
84.5

 
(57.9
)
Defined benefit plan adjustments, net of tax
6.0

 
6.0

 
3.9

 
(9.8
)
 
6.1

Comprehensive income (loss), net of tax
(512.4
)
 
(512.3
)
 
(571.4
)
 
1,063.4

 
(532.7
)
Comprehensive income (loss) attributable to non-controlling interest, net of tax
—

 
—

 
(20.3
)
 
—

 
(20.3
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(512.4
)
 
$
(512.3
)
 
$
(551.1
)
 
$
1,063.4

 
$
(512.4
)

Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended September 27, 2013
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
507.1

 
$
1,050.0

 
$
—

 
$
1,557.1

Intercompany
12.2

 
92.5

 
46.9

 
(151.6
)
 
—

 
12.2

 
599.6

 
1,096.9

 
(151.6
)
 
1,557.1

Cost of sales
—

 
538.6

 
997.7

 
(139.4
)
 
1,396.9

Gross profit
12.2

 
61.0

 
99.2

 
(12.2
)
 
160.2

Selling, general and administrative expenses
10.1

 
41.0

 
78.4

 
(12.2
)
 
117.3

Operating income (loss)
2.1

 
20.0

 
20.8

 
—

 
42.9

Other income (expense)
—

 
0.3

 
9.2

 
—

 
9.5

Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(21.4
)
 
(29.2
)
 
(11.6
)
 
31.6

 
(30.6
)
Interest income
27.6

 
3.9

 
1.8

 
(31.6
)
 
1.7

 
6.2

 
(25.3
)
 
(9.8
)
 
—

 
(28.9
)
Income (loss) before income taxes
8.3

 
(5.0
)
 
20.2

 
—

 
23.5

Income tax (provision) benefit
(3.2
)
 
1.0

 
(14.0
)
 
—

 
(16.2
)
Equity in net earnings of affiliated companies and subsidiaries
0.7

 
4.7

 
0.4

 
(4.9
)
 
0.9

Net income (loss) including non-controlling interest
5.8

 
0.7

 
6.6

 
(4.9
)
 
8.2

Less: preferred stock dividends
0.1

 
—

 
—

 
—

 
0.1

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

 
—

 
2.4

 
—

 
2.4

Net income (loss) attributable to Company common shareholders
$
5.7

 
$
0.7

 
$
4.2

 
$
(4.9
)
 
$
5.7

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
5.8

 
$
0.7

 
$
6.6

 
$
(4.9
)
 
$
8.2

Currency translation gain (loss)
11.6

 
11.6

 
1.0

 
(9.7
)
 
14.5

Defined benefit plan adjustments, net of tax
1.7

 
1.7

 
0.5

 
(2.1
)
 
1.8

Change in fair value of derivatives, net of tax
(0.3
)
 
(0.3
)
 
(0.2
)
 
0.6

 
(0.2
)
Comprehensive income (loss), net of tax
18.8

 
13.7

 
7.9

 
(16.1
)
 
24.3

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

 
—

 
5.5

 
—

 
5.5

Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
18.8

 
$
13.7

 
$
2.4

 
$
(16.1
)
 
$
18.8


Condensed Statements of Operations and Comprehensive Income (Loss) Information
Nine Fiscal Months Ended September 27, 2013
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
1,702.2

 
$
3,057.7

 
$
—

 
$
4,759.9

Intercompany
41.7

 
205.6

 
222.5

 
(469.8
)
 
—

 
41.7

 
1,907.8

 
3,280.2

 
(469.8
)
 
4,759.9

Cost of sales
—

 
1,685.9

 
2,992.2

 
(428.1
)
 
4,250.0

Gross profit
41.7

 
221.9

 
288.0

 
(41.7
)
 
509.9

Selling, general and administrative expenses
33.7

 
140.3

 
231.1

 
(41.7
)
 
363.4

Operating income (loss)
8.0

 
81.6

 
56.9

 
—

 
146.5

Other income (expense)
—

 
(6.7
)
 
(52.1
)
 
—

 
(58.8
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(63.7
)
 
(84.2
)
 
(34.6
)
 
91.8

 
(90.7
)
Interest income
80.2

 
11.3

 
5.0

 
(91.8
)
 
4.7

 
16.5

 
(72.9
)
 
(29.6
)
 
—

 
(86.0
)
Income (loss) before income taxes
24.5

 
2.0

 
(24.8
)
 
—

 
1.7

Income tax (provision) benefit
(9.3
)
 
(7.5
)
 
(13.1
)
 
—

 
(29.9
)
Equity in net earnings of affiliated companies and subsidiaries
(46.8
)
 
(41.3
)
 
0.7

 
88.9

 
1.5

Net income (loss) including non-controlling interest
(31.6
)
 
(46.8
)
 
(37.2
)
 
88.9

 
(26.7
)
Less: preferred stock dividends
0.3

 
—

 
—

 
—

 
0.3

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

 
—

 
4.9

 
—

 
4.9

Net income (loss) attributable to Company common shareholders
$
(31.9
)
 
$
(46.8
)
 
$
(42.1
)
 
$
88.9

 
$
(31.9
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(31.6
)
 
$
(46.8
)
 
$
(37.2
)
 
$
88.9

 
$
(26.7
)
Currency translation gain (loss)
(24.6
)
 
(24.6
)
 
(39.3
)
 
59.7

 
(28.8
)
Defined benefit plan adjustments, net of tax
5.0

 
5.0

 
1.4

 
(6.2
)
 
5.2

Change in fair value of derivatives, net of tax
(0.1
)
 
(0.1
)
 
(0.2
)
 
0.4

 
—

Comprehensive income (loss), net of tax
(51.3
)
 
(66.5
)
 
(75.3
)
 
142.8

 
(50.3
)
Comprehensive income (loss) attributable to non-controlling interest, net of tax
—

 
—

 
1.0

 
—

 
1.0

Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(51.3
)
 
$
(66.5
)
 
$
(76.3
)
 
$
142.8

 
$
(51.3
)
Condensed Balance Sheets
Condensed Balance Sheets Information
September 26, 2014
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
2.4

 
$
270.0

 
$
—

 
$
272.4

Receivables, net of allowances
—

 
302.8

 
884.7

 
—

 
1,187.5

Inventories
—

 
473.5

 
804.7

 
—

 
1,278.2

Deferred income taxes
—

 
23.1

 
21.7

 
—

 
44.8

Prepaid expenses and other
1.7

 
31.4

 
95.9

 
—

 
129.0

Total current assets
1.7

 
833.2

 
2,077.0

 
—

 
2,911.9

Property, plant and equipment, net
0.5

 
222.2

 
665.2

 
—

 
887.9

Deferred income taxes
—

 
—

 
17.8

 
—

 
17.8

Intercompany accounts
1,274.9

 
434.0

 
20.9

 
(1,729.8
)
 
—

Investment in subsidiaries
536.6

 
824.9

 
—

 
(1,361.5
)
 
—

Goodwill
—

 
13.7

 
13.3

 
—

 
27.0

Intangible assets, net
—

 
12.0

 
58.4

 
—

 
70.4

Unconsolidated affiliated companies
—

 
8.4

 
10.9

 
—

 
19.3

Other non-current assets
12.5

 
34.7

 
40.8

 
—

 
88.0

Total assets
$
1,826.2

 
$
2,383.1

 
$
2,904.3

 
$
(3,091.3
)
 
$
4,022.3

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
169.4

 
$
686.2

 
$
—

 
$
855.6

Accrued liabilities
25.7

 
83.9

 
293.6

 
—

 
403.2

Current portion of long-term debt
125.0

 
—

 
282.4

 
—

 
407.4

Total current liabilities
150.7

 
253.3

 
1,262.2

 
—

 
1,666.2

Long-term debt
778.3

 
245.1

 
93.0

 
—

 
1,116.4

Deferred income taxes
175.8

 
(10.7
)
 
50.4

 
—

 
215.5

Intercompany accounts
—

 
1,294.5

 
435.3

 
(1,729.8
)
 
—

Other liabilities
2.4

 
64.3

 
146.9

 
—

 
213.6

Total liabilities
1,107.2

 
1,846.5

 
1,987.8

 
(1,729.8
)
 
3,211.7

Redeemable non-controlling interest
—

 
—

 
16.3

 
—

 
16.3

Total Company shareholders’ equity
719.0

 
536.6

 
824.9

 
(1,361.5
)
 
719.0

Non-controlling interest
—

 
—

 
75.3

 
—

 
75.3

Total liabilities, redeemable non-controlling interest and equity
$
1,826.2

 
$
2,383.1

 
$
2,904.3

 
$
(3,091.3
)
 
$
4,022.3








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
Nine Fiscal Months Ended September 26, 2014
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities
$
16.1

 
$
51.2

 
$
(145.4
)
 
$
—

 
$
(78.1
)
Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(24.2
)
 
(44.0
)
 
—

 
(68.2
)
Proceeds from properties sold
—

 
3.4

 
2.0

 
—

 
5.4

Other
—

 
(11.8
)
 
11.8

 
—

 
—

Net cash flows of investing activities
—

 
(32.6
)
 
(30.2
)
 
—

 
(62.8
)
Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(26.6
)
 
—

 
—

 
—

 
(26.6
)
Excess tax benefits (deficiencies) from stock-based compensation
(0.6
)
 
—

 
—

 
—

 
(0.6
)
Intercompany accounts
41.4

 
(13.8
)
 
(27.6
)
 
—

 
—

Proceeds from debt
—

 
1,003.8

 
760.8

 
—

 
1,764.6

Repayments of debt
—

 
(983.7
)
 
(614.5
)
 
—

 
(1,598.2
)
Purchase of non-controlling interest
—

 
(1.5
)
 
1.2

 
 
 
(0.3
)
Dividends paid to non-controlling interest
—

 
—

 
(5.2
)
 
—

 
(5.2
)
Repurchase of common shares
(30.7
)
 
—

 
—

 


 
(30.7
)
Proceeds from exercise of stock options
0.2

 
—

 
—

 
—

 
0.2

Net cash flows of financing activities
(16.3
)
 
4.8

 
114.7

 
—

 
103.2

Effect of exchange rate changes on cash and cash equivalents
—

 
(23.2
)
 
(85.5
)
 
—

 
(108.7
)
Increase (decrease) in cash and cash equivalents
(0.2
)
 
0.2

 
(146.4
)
 
—

 
(146.4
)
Cash and cash equivalents – beginning of period
0.2

 
2.2

 
416.4

 
—

 
418.8

Cash and cash equivalents – end of period
$
—

 
$
2.4

 
$
270.0

 
$
—

 
$
272.4




Condensed Statements of Cash Flows Information
Nine Fiscal Months Ended September 27, 2013
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities
$
61.3

 
$
99.5

 
$
(183.9
)
 
$
—

 
$
(23.1
)
Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(21.5
)
 
(43.9
)
 
—

 
(65.4
)
Proceeds from properties sold
—

 
0.3

 
0.1

 
—

 
0.4

Acquisitions, net of cash acquired
—

 
(2.3
)
 
(4.6
)
 
—

 
(6.9
)
Other
—

 
(39.2
)
 
39.4

 
—

 
0.2

Net cash flows of investing activities
—

 
(62.7
)
 
(9.0
)
 
—

 
(71.7
)
Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(18.1
)
 
—

 
—

 
—

 
(18.1
)
Excess tax benefits (deficiencies) from stock-based compensation
0.1

 
—

 
—

 
—

 
0.1

Intercompany accounts
(86.6
)
 
14.1

 
72.5

 
—

 
—

Proceeds from debt
—

 
14.7

 
836.2

 
—

 
850.9

Repayments of debt
—

 
(14.7
)
 
(764.8
)
 
—

 
(779.5
)
Purchase of non-controlling interest
—

 
8.2

 
(12.2
)
 
—

 
(4.0
)
Dividends paid to non-controlling interest
—

 
—

 
(3.2
)
 
—

 
(3.2
)
Repurchase of common shares
(19.5
)
 
—

 
—

 
—

 
(19.5
)
Proceeds from exercise of stock options
0.6

 
—

 
—

 
—

 
0.6

Net cash flows of financing activities
(123.5
)
 
22.3

 
128.5

 
—

 
27.3

Effect of exchange rate changes on cash and cash equivalents
—

 
4.8

 
(26.5
)
 
—

 
(21.7
)
Increase (decrease) in cash and cash equivalents
(62.2
)
 
63.9

 
(90.9
)
 
—

 
(89.2
)
Cash and cash equivalents - beginning of period
65.3

 
44.2

 
512.8

 
 
 
622.3

Cash and cash equivalents - end of period
$
3.1

 
$
108.1

 
$
421.9

 
$
—

 
$
533.1
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 nine fiscal months ended September 26, 2014 and the twelve months ended December 31, 2013:
(in millions)
September 26, 2014
 
December 31, 2013
Beginning Balance
$
1,305.5

 
$
1,566.7

Non-cash transactions
 
 
 
Deferred tax
—

 
7.1

Equity based awards
10.8

 
11.7

Foreign currency and other
—

 
—

Cash transactions
(41.4
)
 
(280.0
)
Ending Balance
$
1,274.9

 
$
1,305.5
Parent Company Long-Term Financing Arrangements
At September 26, 2014 and December 31, 2013, the Parent Company was party to the following long-term financing arrangements:
(in millions)
September 26, 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
(260.2
)
 
(261.5
)
Senior Floating Rate Notes
125.0

 
125.0

Other
9.0

 
9.0

Total Parent Company debt
903.3

 
902.0

Less current maturities
125.0

 
—

Parent Company Long-term debt
$
778.3

 
$
902.0
Parent Company Debt Maturities
(in millions)
Q3 2015
 
Q3 2016
 
Q3 2017
 
Q3 2018
 
Q3 2019
Debt maturities twelve month period ending
$
125.0

 
$
—

 
$
—

 
$
—

 
$
—