XML 54 R42.htm IDEA: XBRL DOCUMENT v3.5.0.2
Supplemental Guarantor Condensed Financial Information (Tables)
 6 Months Ended
Jul. 01, 2016
Quarterly Financial Information Disclosure [Abstract]  
Condensed Statements Of Operations
Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended July 1, 2016
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
453.2

 
$
536.8

 
$
—

 
$
990.0

Intercompany
16.6

 
51.2

 
37.0

 
(104.8
)
 
—

 
16.6

 
504.4

 
573.8

 
(104.8
)
 
990.0

Cost of sales
—

 
442.5

 
519.5

 
(88.2
)
 
873.8

Gross profit
16.6

 
61.9

 
54.3

 
(16.6
)
 
116.2

Selling, general and administrative expenses
12.9

 
(3.6
)
 
62.9

 
(16.6
)
 
55.6

Intangible asset impairment charges
—

 
—

 
2.5

 
—

 
2.5

Operating income (loss)
3.7

 
65.5

 
(11.1
)
 
—

 
58.1

Other income (expense)
—

 
(0.5
)
 
9.6

 
—

 
9.1

Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(14.4
)
 
(15.9
)
 
(7.6
)
 
15.2

 
(22.7
)
Interest income
13.7

 
1.4

 
0.4

 
(15.2
)
 
0.3

 
(0.7
)
 
(14.5
)
 
(7.2
)
 
—

 
(22.4
)
Income (loss) before income taxes
3.0

 
50.5

 
(8.7
)
 
—

 
44.8

Income tax (provision) benefit
(1.1
)
 
(3.4
)
 
(6.9
)
 
—

 
(11.4
)
Equity in net earnings of affiliated companies and subsidiaries
27.9

 
(19.2
)
 
0.1

 
(8.5
)
 
0.3

Net income (loss) from continuing operations
29.8

 
27.9

 
(15.5
)
 
(8.5
)
 
33.7

Net income (loss) from discontinued operations, net of tax
—

 
—

 
(5.4
)
 
—

 
(5.4
)
Net income (loss) including noncontrolling interest
29.8

 
27.9

 
(20.9
)
 
(8.5
)
 
28.3

Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
(1.5
)
 
—

 
(1.5
)
Net income (loss) attributable to Company common shareholders
$
29.8

 
$
27.9

 
$
(19.4
)
 
$
(8.5
)
 
$
29.8

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
29.8

 
$
27.9

 
$
(20.9
)
 
$
(8.5
)
 
$
28.3

Currency translation gain (loss)
—

 
—

 
0.1

 
(0.4
)
 
(0.3
)
Defined benefit plan adjustments, net of tax
1.3

 
1.3

 
0.3

 
(1.6
)
 
1.3

Comprehensive income (loss), net of tax
31.1

 
29.2

 
(20.5
)
 
(10.5
)
 
29.3

Comprehensive income (loss) attributable to noncontrolling interest, net of tax
—

 
—

 
(1.8
)
 
—

 
(1.8
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
31.1

 
$
29.2

 
$
(18.7
)
 
$
(10.5
)
 
$
31.1

Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended July 3, 2015
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
503.1

 
$
610.3

 
$
—

 
$
1,113.4

Intercompany
17.1

 
62.0

 
36.0

 
(115.1
)
 
—

 
17.1

 
565.1

 
646.3

 
(115.1
)
 
1,113.4

Cost of sales
—

 
499.9

 
588.3

 
(98.0
)
 
990.2

Gross profit
17.1

 
65.2

 
58.0

 
(17.1
)
 
123.2

Selling, general and administrative expenses
16.0

 
41.7

 
57.2

 
(17.1
)
 
97.8

Intangible asset impairment charges
—

 
—

 
1.7

 
—

 
1.7

Operating income (loss)
1.1

 
23.5

 
(0.9
)
 
—

 
23.7

Other income (expense)
—

 
(2.5
)
 
(3.5
)
 
—

 
(6.0
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(14.4
)
 
(16.4
)
 
(10.1
)
 
15.6

 
(25.3
)
Interest income
13.8

 
1.9

 
0.4

 
(15.6
)
 
0.5

 
(0.6
)
 
(14.5
)
 
(9.7
)
 
—

 
(24.8
)
Income (loss) before income taxes
0.5

 
6.5

 
(14.1
)
 
—

 
(7.1
)
Income tax (provision) benefit
(0.2
)
 
12.2

 
(6.5
)
 
—

 
5.5

Equity in net earnings of affiliated companies and subsidiaries
(7.2
)
 
(25.9
)
 
—

 
33.1

 
—

Net income (loss) from continuing operations
(6.9
)
 
(7.2
)
 
(20.6
)
 
33.1

 
(1.6
)
Net income (loss) from discontinued operations, net of tax
—

 
—

 
(6.8
)
 
—

 
(6.8
)
Net income (loss) including noncontrolling interest
(6.9
)
 
(7.2
)
 
(27.4
)
 
33.1

 
(8.4
)
Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
(1.5
)
 
—

 
(1.5
)
Net income (loss) attributable to Company common shareholders
$
(6.9
)
 
$
(7.2
)
 
$
(25.9
)
 
$
33.1

 
$
(6.9
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(6.9
)
 
$
(7.2
)
 
$
(27.4
)
 
$
33.1

 
$
(8.4
)
Currency translation gain (loss)
(12.8
)
 
(12.8
)
 
(17.0
)
 
29.0

 
(13.6
)
Defined benefit plan adjustments, net of tax
1.8

 
1.8

 
0.6

 
(2.4
)
 
1.8

Comprehensive income (loss), net of tax
(17.9
)
 
(18.2
)
 
(43.8
)
 
59.7

 
(20.2
)
Comprehensive income (loss) attributable to noncontrolling interest, net of tax
—

 
—

 
(2.3
)
 
—

 
(2.3
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(17.9
)
 
$
(18.2
)
 
$
(41.5
)
 
$
59.7

 
$
(17.9
)











Condensed Statements of Operations and Comprehensive Income (Loss) Information
Six Fiscal Months Ended July 1, 2016
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
900.4

 
$
1,063.6

 
$
—

 
$
1,964.0

Intercompany
33.7

 
118.2

 
80.1

 
(232.0
)
 
—

 
33.7

 
1,018.6

 
1,143.7

 
(232.0
)
 
1,964.0

Cost of sales
—

 
896.4

 
1,043.6

 
(198.3
)
 
1,741.7

Gross profit
33.7

 
122.2

 
100.1

 
(33.7
)
 
222.3

Selling, general and administrative expenses
31.6

 
41.3

 
105.3

 
(33.7
)
 
144.5

Goodwill impairment charge
—

 
—

 
1.6

 
—

 
1.6

Intangible asset impairment charges
—

 
0.3

 
2.5

 
—

 
2.8

Operating income (loss)
2.1

 
80.6

 
(9.3
)
 
—

 
73.4

Other income (expense)
—

 
(0.3
)
 
8.0

 
—

 
7.7

Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(28.7
)
 
(32.1
)
 
(13.8
)
 
30.4

 
(44.2
)
Interest income
27.5

 
2.6

 
0.9

 
(30.4
)
 
0.6

 
(1.2
)
 
(29.5
)
 
(12.9
)
 
—

 
(43.6
)
Income (loss) before income taxes
0.9

 
50.8

 
(14.2
)
 
—

 
37.5

Income tax (provision) benefit
(1.0
)
 
(3.8
)
 
(7.4
)
 
—

 
(12.2
)
Equity in net earnings of affiliated companies and subsidiaries
25.2

 
(21.8
)
 
0.1

 
(3.1
)
 
0.4

Net income (loss) from continuing operations
25.1

 
25.2

 
(21.5
)
 
(3.1
)
 
25.7

Net income (loss) from discontinued operations, net of tax
—

 
—

 
(1.8
)
 
—

 
(1.8
)
Net income (loss) including noncontrolling interest
25.1

 
25.2

 
(23.3
)
 
(3.1
)
 
23.9

Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
(1.2
)
 
—

 
(1.2
)
Net income (loss) attributable to Company common shareholders
$
25.1

 
$
25.2

 
$
(22.1
)
 
$
(3.1
)
 
$
25.1

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
25.1

 
$
25.2

 
$
(23.3
)
 
$
(3.1
)
 
$
23.9

Currency translation gain (loss)
31.3

 
31.3

 
26.9

 
(58.3
)
 
31.2

Defined benefit plan adjustments, net of tax
2.6

 
2.6

 
0.6

 
(3.2
)
 
2.6

Comprehensive income (loss), net of tax
59.0

 
59.1

 
4.2

 
(64.6
)
 
57.7

Comprehensive income (loss) attributable to noncontrolling interest, net of tax
—

 
—

 
(1.3
)
 
—

 
(1.3
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
59.0

 
$
59.1

 
$
5.5

 
$
(64.6
)
 
$
59.0










Condensed Statements of Operations and Comprehensive Income (Loss) Information
Six Fiscal Months Ended July 3, 2015
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
1,043.5

 
$
1,241.0

 
$
—

 
$
2,284.5

Intercompany
38.2

 
124.7

 
83.3

 
(246.2
)
 
—

 
38.2

 
1,168.2

 
1,324.3

 
(246.2
)
 
2,284.5

Cost of sales
—

 
1,026.9

 
1,228.7

 
(208.0
)
 
2,047.6

Gross profit
38.2

 
141.3

 
95.6

 
(38.2
)
 
236.9

Selling, general and administrative expenses
36.5

 
88.9

 
108.1

 
(38.2
)
 
195.3

Intangible asset impairment charges
—

 
—

 
1.7

 
—

 
1.7

Operating income (loss)
1.7

 
52.4

 
(14.2
)
 
—

 
39.9

Other income (expense)
0.7

 
(4.0
)
 
(28.5
)
 
—

 
(31.8
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(29.8
)
 
(33.6
)
 
(19.2
)
 
32.9

 
(49.7
)
Interest income
28.6

 
4.3

 
1.0

 
(32.9
)
 
1.0

 
(1.2
)
 
(29.3
)
 
(18.2
)
 
—

 
(48.7
)
Income (loss) before income taxes
1.2

 
19.1

 
(60.9
)
 
—

 
(40.6
)
Income tax (provision) benefit
(0.8
)
 
6.6

 
(1.7
)
 
—

 
4.1

Equity in net earnings of affiliated companies and subsidiaries
(45.4
)
 
(71.1
)
 
0.1

 
116.6

 
0.2

Net income (loss) from continuing operations
(45.0
)
 
(45.4
)
 
(62.5
)
 
116.6

 
(36.3
)
Net income (loss) from discontinued operations, net of tax
—

 
—

 
(13.0
)
 
—

 
(13.0
)
Net income (loss) including noncontrolling interest
(45.0
)
 
(45.4
)
 
(75.5
)
 
116.6

 
(49.3
)
Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
(4.3
)
 
—

 
(4.3
)
Net income (loss) attributable to Company common shareholders
$
(45.0
)
 
$
(45.4
)
 
$
(71.2
)
 
$
116.6

 
$
(45.0
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(45.0
)
 
$
(45.4
)
 
$
(75.5
)
 
$
116.6

 
$
(49.3
)
Currency translation gain (loss)
(53.8
)
 
(53.8
)
 
(36.2
)
 
85.6

 
(58.2
)
Defined benefit plan adjustments, net of tax
4.8

 
4.8

 
2.4

 
(7.2
)
 
4.8

Comprehensive income (loss), net of tax
(94.0
)
 
(94.4
)
 
(109.3
)
 
195.0

 
(102.7
)
Comprehensive income (loss) attributable to noncontrolling interest, net of tax
—

 
—

 
(8.7
)
 
—

 
(8.7
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(94.0
)
 
$
(94.4
)
 
$
(100.6
)
 
$
195.0

 
$
(94.0
)
Condensed Balance Sheets
Condensed Balance Sheets Information
July 1, 2016
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
1.5

 
$
61.3

 
$
—

 
$
62.8

Receivables, net of allowances
—

 
250.2

 
503.0

 
—

 
753.2

Inventories
—

 
325.2

 
446.3

 
—

 
771.5

Prepaid expenses and other
—

 
20.4

 
81.6

 
—

 
102.0

Current assets of discontinued operations
—

 
—

 
90.0

 
—

 
90.0

Total current assets
—

 
597.3

 
1,182.2

 
—

 
1,779.5

Property, plant and equipment, net
0.3

 
187.2

 
318.8

 
—

 
506.3

Deferred income taxes
—

 
51.9

 
18.2

 
(51.9
)
 
18.2

Intercompany accounts
1,104.2

 
110.4

 
74.9

 
(1,289.5
)
 
—

Investment in subsidiaries
131.4

 
683.1

 
—

 
(814.5
)
 
—

Goodwill
—

 
12.9

 
6.8

 
—

 
19.7

Intangible assets, net
0.1

 
10.8

 
25.6

 
—

 
36.5

Unconsolidated affiliated companies
—

 
8.6

 
0.2

 
—

 
8.8

Other non-current assets
—

 
17.9

 
23.6

 
—

 
41.5

Non-current assets of discontinued operations
—

 
—

 
56.1

 
—

 
56.1

Total assets
$
1,236.0

 
$
1,680.1

 
$
1,706.4

 
$
(2,155.9
)
 
$
2,466.6

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
115.8

 
$
311.9

 
$
—

 
$
427.7

Accrued liabilities
11.1

 
112.3

 
236.7

 
—

 
360.1

Current portion of long-term debt
—

 
—

 
133.8

 
—

 
133.8

Current liabilities of discontinued operations
—

 
—

 
25.9

 
—

 
25.9

Total current liabilities
11.1

 
228.1

 
708.3

 
—

 
947.5

Long-term debt
770.4

 
71.0

 
48.9

 
—

 
890.3

Deferred income taxes
183.2

 
—

 
14.2

 
(51.9
)
 
145.5

Intercompany accounts
—

 
1,178.1

 
111.4

 
(1,289.5
)
 
—

Other liabilities
0.5

 
71.5

 
106.9

 
—

 
178.9

Non-current liabilities of discontinued operations
—

 
—

 
1.8

 
—

 
1.8

Total liabilities
965.2

 
1,548.7

 
991.5

 
(1,341.4
)
 
2,164.0

Redeemable noncontrolling interest
—

 
—

 
18.2

 
—

 
18.2

Total Company shareholders’ equity
270.8

 
131.4

 
683.1

 
(814.5
)
 
270.8

Noncontrolling interest
—

 
—

 
13.6

 
—

 
13.6

Total liabilities, redeemable noncontrolling interest and equity
$
1,236.0

 
$
1,680.1

 
$
1,706.4

 
$
(2,155.9
)
 
$
2,466.6







Condensed Balance Sheets Information
December 31, 2015
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
0.8

 
$
78.9

 
$
—

 
$
79.7

Receivables, net of allowances
—

 
214.0

 
472.9

 
—

 
686.9

Inventories
—

 
367.7

 
440.1

 
—

 
807.8

Prepaid expenses and other
—

 
18.5

 
43.6

 
—

 
62.1

Current assets of discontinued operations
—

 
—

 
103.9

 
—

 
103.9

Total current assets
—

 
601.0

 
1,139.4

 
—

 
1,740.4

Property, plant and equipment, net
0.4

 
192.6

 
330.5

 
—

 
523.5

Deferred income taxes
—

 
56.2

 
20.6

 
(56.2
)
 
20.6

Intercompany accounts
1,114.5

 
102.8

 
66.4

 
(1,283.7
)
 
—

Investment in subsidiaries
72.4

 
672.8

 
—

 
(745.2
)
 
—

Goodwill
—

 
13.8

 
8.4

 
—

 
22.2

Intangible assets, net
—

 
9.5

 
27.1

 
—

 
36.6

Unconsolidated affiliated companies
—

 
8.4

 
—

 
—

 
8.4

Other non-current assets
—

 
27.1

 
18.9

 
—

 
46.0

Non-current assets of discontinued operations
—

 
—

 
56.9

 
—

 
56.9

Total assets
$
1,187.3

 
$
1,684.2

 
$
1,668.2

 
$
(2,085.1
)
 
$
2,454.6

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
103.5

 
$
307.9

 
$
—

 
$
411.4

Accrued liabilities
11.2

 
124.0

 
196.2

 
—

 
331.4

Current portion of long-term debt
—

 
—

 
154.9

 
—

 
154.9

Current liabilities of discontinued operations
—

 
—

 
51.6

 
—

 
51.6

Total current liabilities
11.2

 
227.5

 
710.6

 
—

 
949.3

Long-term debt
768.6

 
127.5

 
15.5

 
—

 
911.6

Deferred income taxes
179.5

 
—

 
22.0

 
(56.2
)
 
145.3

Intercompany accounts
—

 
1,180.1

 
103.6

 
(1,283.7
)
 
—

Other liabilities
—

 
76.7

 
108.9

 
—

 
185.6

Non-current liabilities of discontinued operations
—

 
—

 
1.7

 
—

 
1.7

Total liabilities
959.3

 
1,611.8

 
962.3

 
(1,339.9
)
 
2,193.5

Redeemable noncontrolling interest
—

 
—

 
18.2

 
—

 
18.2

Total Company shareholders’ equity
228.0

 
72.4

 
672.8

 
(745.2
)
 
228.0

Noncontrolling interest
—

 
—

 
14.9

 
—

 
14.9

Total liabilities, redeemable noncontrolling interest and equity
$
1,187.3

 
$
1,684.2

 
$
1,668.2

 
$
(2,085.1
)
 
$
2,454.6
Condensed Statements Of Cash Flows
Condensed Statements of Cash Flows Information
Six Fiscal Months Ended July 1, 2016
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities from continuing operations
$
2.8

 
$
23.9

 
$
(20.4
)
 
$
—

 
$
6.3

Net cash flows of operating activities from discontinued operations
—

 
—

 
9.7

 
—

 
9.7

Net cash flows of operating activities
2.8

 
23.9

 
(10.7
)
 
—

 
16.0

Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(15.2
)
 
(16.9
)
 
—

 
(32.1
)
Proceeds from properties sold
—

 
0.4

 
0.2

 
—

 
0.6

Disposal of subsidiaries, net of cash disposed of
—

 
63.7

 
0.9

 
—

 
64.6

Other
—

 
(0.9
)
 
0.7

 
—

 
(0.2
)
Net cash flows of investing activities from continuing operations
—

 
48.0

 
(15.1
)
 
—

 
32.9

Net cash flows of investing activities from discontinued operations
—

 
—

 
(0.1
)
 
—

 
(0.1
)
Net cash flows of investing activities
—

 
48.0

 
(15.2
)
 
—

 
32.8

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

 
—

 
—

 
(17.8
)
Intercompany accounts
15.0

 
(19.5
)
 
4.5

 
—

 
—

Proceeds from debt
—

 
505.6

 
247.4

 
—

 
753.0

Repayments of debt
—

 
(562.2
)
 
(225.6
)
 
—

 
(787.8
)
Dividends paid to noncontrolling interest
—

 
—

 
(0.1
)
 
—

 
(0.1
)
Net cash flows of financing activities from continuing operations
(2.8
)
 
(76.1
)
 
26.2

 
—

 
(52.7
)
Net cash flows of financing activities from discontinued operations
—

 
—

 
(1.8
)
 
—

 
(1.8
)
Net cash flows of financing activities
(2.8
)
 
(76.1
)
 
24.4

 
—

 
(54.5
)
Effect of exchange rate changes on cash and cash equivalents
—

 
4.9

 
(1.0
)
 
—

 
3.9

Cash held for sale
—

 
—

 
(4.7
)
 
—

 
(4.7
)
Increase (decrease) in cash and cash equivalents
—

 
0.7

 
(7.2
)
 
—

 
(6.5
)
Cash and cash equivalents – beginning of period
—

 
0.8

 
111.6

 
—

 
112.4

Cash and cash equivalents – end of period
$
—

 
$
1.5

 
$
104.4

 
$
—

 
$
105.9

Less cash and cash equivalents of discontinued operations
—

 
—

 
43.1

 
—

 
43.1

Cash and cash equivalents of continuing operations – end of period
$
—

 
$
1.5

 
$
61.3

 
$
—

 
$
62.8




Condensed Statements of Cash Flows Information
Six Fiscal Months Ended July 3, 2015
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities from continuing operations
$
3.2

 
$
142.1

 
$
(9.6
)
 
$
(6.9
)
 
$
128.8

Net cash flows of operating activities from discontinued operations
—

 
—

 
0.7

 
—

 
0.7

Net cash flows of operating activities
3.2

 
142.1

 
(8.9
)
 
(6.9
)
 
129.5

Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(11.6
)
 
(18.7
)
 
—

 
(30.3
)
Proceeds from properties sold
—

 
0.1

 
0.2

 
—

 
0.3

Disposal of subsidiaries, net of cash disposed of
—

 
—

 
22.7

 
—

 
22.7

Intercompany accounts
—

 
7.8

 
—

 
(7.8
)
 
—

Other
—

 
(0.1
)
 
0.4

 
—

 
0.3

Net cash flows of investing activities from continuing operations
—

 
(3.8
)
 
4.6

 
(7.8
)
 
(7.0
)
Net cash flows of investing activities from discontinued operations
—

 
—

 
(4.4
)
 
—

 
(4.4
)
Net cash flows of investing activities
—

 
(3.8
)
 
0.2

 
(7.8
)
 
(11.4
)
Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(17.7
)
 
—

 
—

 
—

 
(17.7
)
Intercompany accounts
139.3

 
(154.3
)
 
0.3

 
14.7

 
—

Proceeds from debt
—

 
1,358.1

 
481.7

 
—

 
1,839.8

Repayments of debt
(125.0
)
 
(1,314.7
)
 
(510.0
)
 
—

 
(1,949.7
)
Dividends paid to noncontrolling interest
—

 
—

 
(0.1
)
 
—

 
(0.1
)
Proceeds from exercise of stock options
0.2

 
—

 
—

 
—

 
0.2

Net cash flows of financing activities from continuing operations
(3.2
)
 
(110.9
)
 
(28.1
)
 
14.7

 
(127.5
)
Net cash flows of financing activities from discontinued operations
—

 
—

 
(3.4
)
 
—

 
(3.4
)
Net cash flows of financing activities
(3.2
)
 
(110.9
)
 
(31.5
)
 
14.7

 
(130.9
)
Effect of exchange rate changes on cash and cash equivalents
—

 
(24.4
)
 
(13.8
)
 
—

 
(38.2
)
Increase (decrease) in cash and cash equivalents
—

 
3.0

 
(54.0
)
 
—

 
(51.0
)
Cash and cash equivalents - beginning of period
—

 
1.2

 
204.6

 
—

 
205.8

Cash and cash equivalents - end of period
$
—

 
$
4.2

 
$
150.6

 
$
—

 
$
154.8

Less cash and cash equivalents of discontinued operations
—

 
—

 
52.5

 
—

 
52.5

Cash and cash equivalents of continuing operations – end of period
$
—

 
$
4.2

 
$
98.1

 
$
—

 
$
102.3
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 July 1, 2016 and the twelve months ended December 31, 2015:
(in millions)
July 1, 2016
 
December 31, 2015
Beginning Balance
$
1,114.5

 
$
1,280.8

Non-cash transactions
 
 
 
Deferred tax
—

 
(19.9
)
Equity based awards
4.8

 
11.7

Foreign currency and other
(0.1
)
 
0.2

Cash transactions
(15.0
)
 
(158.3
)
Ending Balance
$
1,104.2

 
$
1,114.5
Parent Company Long-Term Financing Arrangements
At July 1, 2016 and December 31, 2015, the Parent Company was party to the following long-term financing arrangements:
(in millions)
July 1, 2016
 
December 31, 2015
5.75% Senior Notes due 2022
$
600.0

 
$
600.0

Subordinated Convertible Notes due 2029
429.5

 
429.5

Debt discount
(256.7
)
 
(257.8
)
Debt issuance costs
(11.4
)
 
(12.1
)
Other
9.0

 
9.0

Total Parent Company debt
770.4

 
768.6

Less current maturities
—

 
—

Parent Company Long-term debt
$
770.4

 
$
768.6
Parent Company Debt Maturities
(in millions)
Q2 2017
 
Q2 2018
 
Q2 2019
 
Q2 2020
 
Q2 2021
Debt maturities twelve month period ending
$
—

 
$
—

 
$
—

 
$
—

 
$
—