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Supplemental Guarantor Condensed Financial Information (Tables)
 9 Months Ended
Sep. 29, 2017
Quarterly Financial Information Disclosure [Abstract]  
Condensed Statements Of Operations
Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended September 29, 2017
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
490.9

 
$
503.1

 
$
—

 
$
994.0

Intercompany
18.2

 
46.3

 
43.1

 
(107.6
)
 
—

 
18.2

 
537.2

 
546.2

 
(107.6
)
 
994.0

Cost of sales
—

 
477.0

 
497.2

 
(89.4
)
 
884.8

Gross profit
18.2

 
60.2

 
49.0

 
(18.2
)
 
109.2

Selling, general and administrative expenses
15.9

 
41.0

 
69.7

 
(18.2
)
 
108.4

Operating income (loss)
2.3

 
19.2

 
(20.7
)
 
—

 
0.8

Other income (expense)
—

 
1.8

 
8.9

 
—

 
10.7

Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(14.3
)
 
(14.7
)
 
(4.0
)
 
13.8

 
(19.2
)
Interest income
12.5

 
1.3

 
0.3

 
(13.8
)
 
0.3

 
(1.8
)
 
(13.4
)
 
(3.7
)
 
—

 
(18.9
)
Income (loss) before income taxes
0.5

 
7.6

 
(15.5
)
 
—

 
(7.4
)
Income tax (provision) benefit
(0.9
)
 
(0.7
)
 
(5.2
)
 
—

 
(6.8
)
Equity in net earnings of affiliated companies and subsidiaries
(13.8
)
 
(20.7
)
 
—

 
34.5

 
—

Net income (loss) including noncontrolling interest
(14.2
)
 
(13.8
)
 
(20.7
)
 
34.5

 
(14.2
)
Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
—

 
—

 
—

Net income (loss) attributable to Company common shareholders
$
(14.2
)
 
$
(13.8
)
 
$
(20.7
)
 
$
34.5

 
$
(14.2
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(14.2
)
 
$
(13.8
)
 
$
(20.7
)
 
$
34.5

 
$
(14.2
)
Currency translation gain (loss)
18.7

 
18.7

 
15.7

 
(34.8
)
 
18.3

Defined benefit plan adjustments, net of tax
0.7

 
0.7

 
0.3

 
(0.6
)
 
1.1

Comprehensive income (loss), net of tax
5.2

 
5.6

 
(4.7
)
 
(0.9
)
 
5.2

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

 
—

 
—

 
—

 
—

Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
5.2

 
$
5.6

 
$
(4.7
)
 
$
(0.9
)
 
$
5.2

Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended September 30, 2016
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
422.1

 
$
502.4

 
$
—

 
$
924.5

Intercompany
16.5

 
44.6

 
36.0

 
(97.1
)
 
—

 
16.5

 
466.7

 
538.4

 
(97.1
)
 
924.5

Cost of sales
—

 
405.9

 
496.3

 
(80.6
)
 
821.6

Gross profit
16.5

 
60.8

 
42.1

 
(16.5
)
 
102.9

Selling, general and administrative expenses
13.7

 
45.5

 
43.4

 
(16.5
)
 
86.1

Goodwill impairment charges
—

 
7.4

 
—

 
—

 
7.4

Intangible asset impairment charges
—

 
4.7

 
—

 
—

 
4.7

Operating income (loss)
2.8

 
3.2

 
(1.3
)
 
—

 
4.7

Other income (expense)
—

 
0.2

 
(2.3
)
 
—

 
(2.1
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(14.4
)
 
(15.9
)
 
(7.7
)
 
15.5

 
(22.5
)
Interest income
14.1

 
1.2

 
0.4

 
(15.5
)
 
0.2

 
(0.3
)
 
(14.7
)
 
(7.3
)
 
—

 
(22.3
)
Income (loss) before income taxes
2.5

 
(11.3
)
 
(10.9
)
 
—

 
(19.7
)
Income tax (provision) benefit
(1.1
)
 
11.4

 
(4.6
)
 
—

 
5.7

Equity in net earnings of affiliated companies and subsidiaries
(15.7
)
 
(15.8
)
 
0.1

 
31.7

 
0.3

Net income (loss) including noncontrolling interest
(14.3
)
 
(15.7
)
 
(15.4
)
 
31.7

 
(13.7
)
Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
0.6

 
—

 
0.6

Net income (loss) attributable to Company common shareholders
$
(14.3
)
 
$
(15.7
)
 
$
(16.0
)
 
$
31.7

 
$
(14.3
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(14.3
)
 
$
(15.7
)
 
$
(15.4
)
 
$
31.7

 
$
(13.7
)
Currency translation gain (loss)
12.8

 
12.8

 
15.2

 
(27.4
)
 
13.4

Defined benefit plan adjustments, net of tax
1.3

 
1.3

 
0.3

 
(1.6
)
 
1.3

Comprehensive income (loss), net of tax
(0.2
)
 
(1.6
)
 
0.1

 
2.7

 
1.0

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

 
—

 
1.2

 
—

 
1.2

Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(0.2
)
 
$
(1.6
)
 
$
(1.1
)
 
$
2.7

 
$
(0.2
)






Condensed Statements of Operations and Comprehensive Income (Loss) Information
Nine Fiscal Months Ended September 29, 2017
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
1,446.9

 
$
1,408.4

 
$
—

 
$
2,855.3

Intercompany
53.0

 
135.7

 
134.5

 
(323.2
)
 
—

 
53.0

 
1,582.6

 
1,542.9

 
(323.2
)
 
2,855.3

Cost of sales
—

 
1,392.7

 
1,404.1

 
(270.2
)
 
2,526.6

Gross profit
53.0

 
189.9

 
138.8

 
(53.0
)
 
328.7

Selling, general and administrative expenses
41.7

 
147.6

 
190.6

 
(53.0
)
 
326.9

Operating income (loss)
11.3

 
42.3

 
(51.8
)
 
—

 
1.8

Other income (expense)
—

 
3.4

 
14.5

 
—

 
17.9

Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(43.1
)
 
(44.7
)
 
(13.8
)
 
42.3

 
(59.3
)
Interest income
38.4

 
3.9

 
1.4

 
(42.3
)
 
1.4

 
(4.7
)
 
(40.8
)
 
(12.4
)
 
—

 
(57.9
)
Income (loss) before income taxes
6.6

 
4.9

 
(49.7
)
 
—

 
(38.2
)
Income tax (provision) benefit
(13.1
)
 
0.8

 
(20.0
)
 
—

 
(32.3
)
Equity in net earnings of affiliated companies and subsidiaries
(66.1
)
 
(71.8
)
 
—

 
137.9

 
—

Net income (loss) including noncontrolling interest
(72.6
)
 
(66.1
)
 
(69.7
)
 
137.9

 
(70.5
)
Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
2.1

 
—

 
2.1

Net income (loss) attributable to Company common shareholders
$
(72.6
)
 
$
(66.1
)
 
$
(71.8
)
 
$
137.9

 
$
(72.6
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(72.6
)
 
$
(66.1
)
 
$
(69.7
)
 
$
137.9

 
$
(70.5
)
Currency translation gain (loss)
58.5

 
58.5

 
52.9

 
(101.2
)
 
68.7

Defined benefit plan adjustments, net of tax
2.2

 
2.2

 
1.0

 
(2.1
)
 
3.3

Comprehensive income (loss), net of tax
(11.9
)
 
(5.4
)
 
(15.8
)
 
34.6

 
1.5

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

 
—

 
13.4

 
—

 
13.4

Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(11.9
)
 
$
(5.4
)
 
$
(29.2
)
 
$
34.6

 
$
(11.9
)

Condensed Statements of Operations and Comprehensive Income (Loss) Information
Nine Fiscal Months Ended September 30, 2016
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
1,322.5

 
$
1,625.9

 
$
—

 
$
2,948.4

Intercompany
50.2

 
162.8

 
115.5

 
(328.5
)
 
—

 
50.2

 
1,485.3

 
1,741.4

 
(328.5
)
 
2,948.4

Cost of sales
—

 
1,302.3

 
1,591.4

 
(278.3
)
 
2,615.4

Gross profit
50.2

 
183.0

 
150.0

 
(50.2
)
 
333.0

Selling, general and administrative expenses
45.3

 
86.8

 
156.1

 
(50.2
)
 
238.0

Goodwill impairment charges
—

 
7.4

 
1.6

 
—

 
9.0

Intangible asset impairment charges
—

 
5.0

 
2.5

 
—

 
7.5

Operating income (loss)
4.9

 
83.8

 
(10.2
)
 
—

 
78.5

Other income (expense)
—

 
(0.1
)
 
4.8

 
—

 
4.7

Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(43.1
)
 
(48.0
)
 
(21.5
)
 
45.4

 
(67.2
)
Interest income
41.6

 
3.8

 
1.2

 
(45.4
)
 
1.2

 
(1.5
)
 
(44.2
)
 
(20.3
)
 
—

 
(66.0
)
Income (loss) before income taxes
3.4

 
39.5

 
(25.7
)
 
—

 
17.2

Income tax (provision) benefit
(2.1
)
 
7.6

 
(13.2
)
 
—

 
(7.7
)
Equity in net earnings of affiliated companies and subsidiaries
9.5

 
(37.6
)
 
0.2

 
28.6

 
0.7

Net income (loss) including noncontrolling interest
10.8

 
9.5

 
(38.7
)
 
28.6

 
10.2

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

 
—

 
(0.6
)
 
—

 
(0.6
)
Net income (loss) attributable to Company common shareholders
$
10.8

 
$
9.5

 
$
(38.1
)
 
$
28.6

 
$
10.8

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
10.8

 
$
9.5

 
$
(38.7
)
 
$
28.6

 
$
10.2

Currency translation gain (loss)
44.1

 
44.1

 
42.1

 
(85.7
)
 
44.6

Defined benefit plan adjustments, net of tax
3.9

 
3.9

 
0.9

 
(4.8
)
 
3.9

Comprehensive income (loss), net of tax
58.8

 
57.5

 
4.3

 
(61.9
)
 
58.7

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

 
—

 
(0.1
)
 
—

 
(0.1
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
58.8

 
$
57.5

 
$
4.4

 
$
(61.9
)
 
$
58.8
Condensed Balance Sheets
Condensed Balance Sheets Information
September 29, 2017
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
1.6

 
$
70.6

 
$
—

 
$
72.2

Receivables, net of allowances
—

 
262.7

 
504.2

 
—

 
766.9

Inventories
—

 
378.1

 
355.1

 
—

 
733.2

Prepaid expenses and other
—

 
27.8

 
49.6

 
—

 
77.4

Total current assets
—

 
670.2

 
979.5

 
—

 
1,649.7

Property, plant and equipment, net
0.3

 
210.7

 
319.4

 
—

 
530.4

Deferred income taxes
—

 
42.4

 
9.3

 
(42.4
)
 
9.3

Intercompany accounts
1,025.3

 
116.9

 
64.0

 
(1,206.2
)
 
—

Investment in subsidiaries
67.9

 
581.9

 
—

 
(649.8
)
 
—

Goodwill
—

 
5.6

 
5.5

 
—

 
11.1

Intangible assets, net
—

 
6.0

 
18.4

 
—

 
24.4

Unconsolidated affiliated companies
—

 
—

 
0.2

 
—

 
0.2

Other non-current assets
—

 
17.3

 
42.1

 
—

 
59.4

Total assets
$
1,093.5

 
$
1,651.0

 
$
1,438.4

 
$
(1,898.4
)
 
$
2,284.5

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
145.5

 
$
302.9

 
$
—

 
$
448.4

Accrued liabilities
38.0

 
81.2

 
208.9

 
—

 
328.1

Current portion of long-term debt
—

 
—

 
54.8

 
—

 
54.8

Total current liabilities
38.0

 
226.7

 
566.6

 
—

 
831.3

Long-term debt
775.2

 
210.3

 
50.7

 
—

 
1,036.2

Deferred income taxes
159.5

 
—

 
8.8

 
(42.4
)
 
125.9

Intercompany accounts
—

 
1,088.4

 
117.8

 
(1,206.2
)
 
—

Other liabilities
0.6

 
57.7

 
109.8

 
—

 
168.1

Total liabilities
973.3

 
1,583.1

 
853.7

 
(1,248.6
)
 
2,161.5

Total Company shareholders’ equity
120.2

 
67.9

 
581.9

 
(649.8
)
 
120.2

Noncontrolling interest
—

 
—

 
2.8

 
—

 
2.8

Total liabilities and equity
$
1,093.5

 
$
1,651.0

 
$
1,438.4

 
$
(1,898.4
)
 
$
2,284.5







Condensed Balance Sheets Information
December 31, 2016
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
1.0

 
$
100.1

 
$
—

 
$
101.1

Receivables, net of allowances
—

 
202.9

 
461.6

 
—

 
664.5

Inventories
—

 
363.4

 
404.8

 
—

 
768.2

Prepaid expenses and other
—

 
26.2

 
39.2

 
—

 
65.4

Total current assets
—

 
593.5

 
1,005.7

 
—

 
1,599.2

Property, plant and equipment, net
0.3

 
202.8

 
326.2

 
—

 
529.3

Deferred income taxes
—

 
42.9

 
20.4

 
(42.9
)
 
20.4

Intercompany accounts
1,092.4

 
104.7

 
69.4

 
(1,266.5
)
 
—

Investment in subsidiaries
73.2

 
612.7

 
—

 
(685.9
)
 
—

Goodwill
—

 
5.6

 
6.4

 
—

 
12.0

Intangible assets, net
—

 
6.0

 
22.3

 
—

 
28.3

Unconsolidated affiliated companies
—

 
8.8

 
0.2

 
—

 
9.0

Other non-current assets
—

 
15.5

 
27.9

 
—

 
43.4

Total assets
$
1,165.9

 
$
1,592.5

 
$
1,478.5

 
$
(1,995.3
)
 
$
2,241.6

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
112.4

 
$
301.6

 
$
—

 
$
414.0

Accrued liabilities
93.4

 
105.0

 
221.2

 
—

 
419.6

Current portion of long-term debt
—

 
—

 
67.5

 
—

 
67.5

Total current liabilities
93.4

 
217.4

 
590.3

 
—

 
901.1

Long-term debt
772.3

 
75.9

 
22.9

 
—

 
871.1

Deferred income taxes
147.1

 
—

 
22.5

 
(42.9
)
 
126.7

Intercompany accounts
—

 
1,161.1

 
105.4

 
(1,266.5
)
 
—

Other liabilities
—

 
64.9

 
108.9

 
—

 
173.8

Total liabilities
1,012.8

 
1,519.3

 
850.0

 
(1,309.4
)
 
2,072.7

Total Company shareholders’ equity
153.1

 
73.2

 
612.7

 
(685.9
)
 
153.1

Noncontrolling interest
—

 
—

 
15.8

 
—

 
15.8

Total liabilities and equity
$
1,165.9

 
$
1,592.5

 
$
1,478.5

 
$
(1,995.3
)
 
$
2,241.6
Condensed Statements Of Cash Flows
Condensed Statements of Cash Flows Information
Nine Fiscal Months Ended September 29, 2017
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities
$
(45.3
)
 
$
(26.5
)
 
$
5.6

 
$
—

 
$
(66.2
)
Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(42.0
)
 
(29.9
)
 
—

 
(71.9
)
Proceeds from properties sold
—

 
0.2

 
0.7

 
—

 
0.9

Disposal of subsidiaries, net of cash disposed of
—

 
5.3

 
(5.2
)
 
—

 
0.1

Intercompany accounts
—

 
35.5

 
—

 
(35.5
)
 
—

Investment in restricted cash
—

 
—

 
(10.0
)
 
—

 
(10.0
)
Other
—

 
0.1

 
(0.1
)
 
—

 
—

Net cash flows of investing activities
—

 
(0.9
)
 
(44.5
)
 
(35.5
)
 
(80.9
)
Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(27.5
)
 
—

 
—

 
—

 
(27.5
)
Intercompany accounts
72.8

 
(111.6
)
 
3.3

 
35.5

 
—

Proceeds from debt
—

 
1,313.2

 
324.4

 
—

 
1,637.6

Repayments of debt
—

 
(1,178.8
)
 
(318.3
)
 
—

 
(1,497.1
)
Net cash flows of financing activities
45.3

 
22.8

 
9.4

 
35.5

 
113.0

Effect of exchange rate changes on cash and cash equivalents
—

 
5.2

 
—

 
—

 
5.2

Increase (decrease) in cash and cash equivalents
—

 
0.6

 
(29.5
)
 
—

 
(28.9
)
Cash and cash equivalents – beginning of period
—

 
1.0

 
100.1

 
—

 
101.1

Cash and cash equivalents – end of period
$
—

 
$
1.6

 
$
70.6

 
$
—

 
$
72.2




Condensed Statements of Cash Flows Information
Nine Fiscal Months Ended September 30, 2016
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities
$
2.4

 
$
48.2

 
$
15.3

 
$
—

 
$
65.9

Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(28.2
)
 
(25.3
)
 
—

 
(53.5
)
Proceeds from properties sold
—

 
0.4

 
0.7

 
—

 
1.1

Disposal of subsidiaries, net of cash disposed of
—

 
76.8

 
3.2

 
—

 
80.0

Other
—

 
(0.8
)
 
1.0

 
—

 
0.2

Net cash flows of investing activities
—

 
48.2

 
(20.4
)
 
—

 
27.8

Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(26.7
)
 
—

 
—

 
—

 
(26.7
)
Intercompany accounts
24.3

 
(36.9
)
 
12.6

 
—

 
—

Proceeds from debt
—

 
820.8

 
334.7

 
—

 
1,155.5

Repayments of debt
—

 
(882.4
)
 
(341.5
)
 
—

 
(1,223.9
)
Proceeds from sale leaseback transaction
—

 
—

 
6.2

 
—

 
6.2

Dividends paid to noncontrolling interest
—

 
—

 
(0.1
)
 
—

 
(0.1
)
Net cash flows of financing activities
(2.4
)
 
(98.5
)
 
11.9

 
—

 
(89.0
)
Effect of exchange rate changes on cash and cash equivalents
—

 
3.8

 
(0.7
)
 
—

 
3.1

Increase (decrease) in cash and cash equivalents
—

 
1.7

 
6.1

 
—

 
7.8

Cash and cash equivalents - beginning of period
—

 
0.8

 
111.6

 
—

 
112.4

Cash and cash equivalents - end of period
$
—

 
$
2.5

 
$
117.7

 
$
—

 
$
120.2
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 29, 2017 and the twelve fiscal months ended December 31, 2016:
(in millions)
September 29, 2017
 
December 31, 2016
Beginning Balance
$
1,092.4

 
$
1,114.5

Non-cash transactions
 
 
 
Deferred tax
—

 
(27.6
)
Equity based awards
5.3

 
5.2

Foreign currency and other
0.4

 
28.4

Cash transactions
(72.8
)
 
(28.1
)
Ending Balance
$
1,025.3

 
$
1,092.4
Parent Company Long-Term Financing Arrangements
At September 29, 2017 and December 31, 2016, the Parent Company was party to the following long-term financing arrangements:
(in millions)
September 29, 2017
 
December 31, 2016
5.75% Senior Notes due 2022
$
600.0

 
$
600.0

Subordinated Convertible Notes due 2029
429.5

 
429.5

Debt discount
(253.8
)
 
(255.6
)
Debt issuance costs
(9.5
)
 
(10.6
)
Other
9.0

 
9.0

Total Parent Company debt
775.2

 
772.3

Less current maturities
—

 
—

Parent Company Long-term debt
$
775.2

 
$
772.3
Parent Company Debt Maturities
(in millions)
Q3 2018
 
Q3 2019
 
Q3 2020
 
Q3 2021
 
Q3 2022
Debt maturities twelve month period ending
$
—

 
$
—

 
$
—

 
$
—

 
$
—