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Supplemental Guarantor Condensed Financial Information (Tables)
 3 Months Ended
Mar. 30, 2018
Quarterly Financial Information Disclosure [Abstract]  
Condensed Statements Of Operations
Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended March 30, 2018
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
500.4

 
$
520.1

 
$
—

 
$
1,020.5

Intercompany
16.7

 
54.9

 
48.5

 
(120.1
)
 
—

 
16.7

 
555.3

 
568.6

 
(120.1
)
 
1,020.5

Cost of sales
—

 
504.9

 
513.3

 
(103.4
)
 
914.8

Gross profit
16.7

 
50.4

 
55.3

 
(16.7
)
 
105.7

Selling, general and administrative expenses
8.3

 
45.8

 
34.0

 
(16.7
)
 
71.4

Operating income (loss)
8.4

 
4.6

 
21.3

 
—

 
34.3

Other income (expense)
—

 
(1.5
)
 
(14.1
)
 
—

 
(15.6
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(14.1
)
 
(15.4
)
 
(3.4
)
 
13.7

 
(19.2
)
Interest income
12.4

 
1.3

 
0.9

 
(13.7
)
 
0.9

 
(1.7
)
 
(14.1
)
 
(2.5
)
 
—

 
(18.3
)
Income (loss) before income taxes
6.7

 
(11.0
)
 
4.7

 
—

 
0.4

Income tax (provision) benefit
(1.0
)
 
(1.4
)
 
(2.2
)
 
—

 
(4.6
)
Equity in net earnings of affiliated companies and subsidiaries
(10.0
)
 
2.4

 
—

 
7.6

 
—

Net income (loss) including noncontrolling interest
(4.3
)
 
(10.0
)
 
2.5

 
7.6

 
(4.2
)
Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
0.1

 
—

 
0.1

Net income (loss) attributable to Company common shareholders
$
(4.3
)
 
$
(10.0
)
 
$
2.4

 
$
7.6

 
$
(4.3
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(4.3
)
 
$
(10.0
)
 
$
2.5

 
$
7.6

 
$
(4.2
)
Currency translation gain (loss)
2.9

 
2.9

 
5.0

 
(7.9
)
 
2.9

Defined benefit plan adjustments, net of tax
0.8

 
0.8

 
0.3

 
(1.1
)
 
0.8

Comprehensive income (loss), net of tax
(0.6
)
 
(6.3
)
 
7.8

 
(1.4
)
 
(0.5
)
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
$
(0.6
)
 
$
(6.3
)
 
$
7.7

 
$
(1.4
)
 
$
(0.6
)
Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended March 31, 2017
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
466.9

 
$
451.3

 
$
—

 
$
918.2

Intercompany
18.2

 
48.6

 
50.7

 
(117.5
)
 
—

 
18.2

 
515.5

 
502.0

 
(117.5
)
 
918.2

Cost of sales
—

 
444.3

 
454.2

 
(99.3
)
 
799.2

Gross profit
18.2

 
71.2

 
47.8

 
(18.2
)
 
119.0

Selling, general and administrative expenses
8.0

 
63.8

 
41.2

 
(18.2
)
 
94.8

Operating income (loss)
10.2

 
7.4

 
6.6

 
—

 
24.2

Other income (expense)
—

 
3.1

 
11.5

 
—

 
14.6

Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(14.3
)
 
(15.0
)
 
(5.9
)
 
14.5

 
(20.7
)
Interest income
13.2

 
1.3

 
0.6

 
(14.5
)
 
0.6

 
(1.1
)
 
(13.7
)
 
(5.3
)
 
—

 
(20.1
)
Income (loss) before income taxes
9.1

 
(3.2
)
 
12.8

 
—

 
18.7

Income tax (provision) benefit
(4.4
)
 
3.8

 
(5.7
)
 
—

 
(6.3
)
Equity in net earnings of affiliated companies and subsidiaries
7.7

 
7.1

 
—

 
(14.8
)
 
—

Net income (loss) including noncontrolling interest
12.4

 
7.7

 
7.1

 
(14.8
)
 
12.4

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

 
—

 
—

 
—

 
—

Net income (loss) attributable to Company common shareholders
$
12.4

 
$
7.7

 
$
7.1

 
$
(14.8
)
 
$
12.4

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
12.4

 
$
7.7

 
$
7.1

 
$
(14.8
)
 
$
12.4

Currency translation gain (loss)
8.7

 
8.7

 
8.0

 
(16.8
)
 
8.6

Defined benefit plan adjustments, net of tax
0.8

 
0.8

 
0.4

 
(1.2
)
 
0.8

Comprehensive income (loss), net of tax
21.9

 
17.2

 
15.5

 
(32.8
)
 
21.8

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
$
21.9

 
$
17.2

 
$
15.6

 
$
(32.8
)
 
$
21.9
Condensed Balance Sheets
Condensed Balance Sheets Information
March 30, 2018
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
—

 
$
53.5

 
$
—

 
$
53.5

Receivables, net of allowances
—

 
283.8

 
528.1

 
—

 
811.9

Inventories
—

 
351.6

 
377.1

 
—

 
728.7

Prepaid expenses and other
—

 
30.2

 
31.3

 
—

 
61.5

Total current assets
—

 
665.6

 
990.0

 
—

 
1,655.6

Property, plant and equipment, net
0.3

 
204.9

 
320.9

 
—

 
526.1

Deferred income taxes
—

 
21.9

 
7.2

 
(21.9
)
 
7.2

Intercompany accounts
1,017.1

 
123.4

 
70.9

 
(1,211.4
)
 
—

Investment in subsidiaries
24.2

 
593.7

 
—

 
(617.9
)
 
—

Goodwill
—

 
5.6

 
5.4

 
—

 
11.0

Intangible assets, net
0.1

 
5.1

 
16.9

 
—

 
22.1

Unconsolidated affiliated companies
—

 
—

 
0.2

 
—

 
0.2

Other non-current assets
—

 
16.9

 
41.2

 
—

 
58.1

Total assets
$
1,041.7

 
$
1,637.1

 
$
1,452.7

 
$
(1,851.2
)
 
$
2,280.3

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
134.1

 
$
310.8

 
$
—

 
$
444.9

Accrued liabilities
11.3

 
69.3

 
173.9

 
—

 
254.5

Current portion of long-term debt
—

 
—

 
33.9

 
—

 
33.9

Total current liabilities
11.3

 
203.4

 
518.6

 
—

 
733.3

Long-term debt
777.3

 
267.7

 
90.5

 
—

 
1,135.5

Deferred income taxes
122.5

 
—

 
13.8

 
(21.9
)
 
114.4

Intercompany accounts
—

 
1,087.0

 
124.4

 
(1,211.4
)
 
—

Other liabilities
—

 
54.8

 
109.0

 
—

 
163.8

Total liabilities
911.1

 
1,612.9

 
856.3

 
(1,233.3
)
 
2,147.0

Total Company shareholders’ equity
130.6

 
24.2

 
593.7

 
(617.9
)
 
130.6

Noncontrolling interest
—

 
—

 
2.7

 
—

 
2.7

Total liabilities and equity
$
1,041.7

 
$
1,637.1

 
$
1,452.7

 
$
(1,851.2
)
 
$
2,280.3







Condensed Balance Sheets Information
December 31, 2017
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
—

 
$
84.7

 
$
—

 
$
84.7

Receivables, net of allowances
—

 
226.2

 
488.0

 
—

 
714.2

Inventories
—

 
380.2

 
355.9

 
—

 
736.1

Prepaid expenses and other
—

 
27.0

 
33.0

 
—

 
60.0

Total current assets
—

 
633.4

 
961.6

 
—

 
1,595.0

Property, plant and equipment, net
0.3

 
209.3

 
320.7

 
—

 
530.3

Deferred income taxes
—

 
26.1

 
7.9

 
(26.1
)
 
7.9

Intercompany accounts
1,022.7

 
114.8

 
70.3

 
(1,207.8
)
 
—

Investment in subsidiaries
19.4

 
581.1

 
—

 
(600.5
)
 
—

Goodwill
—

 
5.6

 
5.4

 
—

 
11.0

Intangible assets, net
0.1

 
5.6

 
17.6

 
—

 
23.3

Unconsolidated affiliated companies
—

 
—

 
0.2

 
—

 
0.2

Other non-current assets
—

 
17.3

 
50.3

 
—

 
67.6

Total assets
$
1,042.5

 
$
1,593.2

 
$
1,434.0

 
$
(1,834.4
)
 
$
2,235.3

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
118.1

 
$
319.4

 
$
—

 
$
437.5

Accrued liabilities
15.6

 
88.6

 
204.6

 
—

 
308.8

Current portion of long-term debt
—

 
—

 
46.9

 
—

 
46.9

Total current liabilities
15.6

 
206.7

 
570.9

 
—

 
793.2

Long-term debt
776.3

 
219.9

 
42.6

 
—

 
1,038.8

Deferred income taxes
121.4

 
—

 
13.3

 
(26.1
)
 
108.6

Intercompany accounts
—

 
1,092.3

 
115.5

 
(1,207.8
)
 
—

Other liabilities
—

 
54.9

 
108.0

 
—

 
162.9

Total liabilities
913.3

 
1,573.8

 
850.3

 
(1,233.9
)
 
2,103.5

Total Company shareholders’ equity
129.2

 
19.4

 
581.1

 
(600.5
)
 
129.2

Noncontrolling interest
—

 
—

 
2.6

 
—

 
2.6

Total liabilities and equity
$
1,042.5

 
$
1,593.2

 
$
1,434.0

 
$
(1,834.4
)
 
$
2,235.3
Condensed Statements Of Cash Flows
Condensed Statements of Cash Flows Information
Three Fiscal Months Ended March 30, 2018
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities
$
3.5

 
$
(25.1
)
 
$
(63.9
)
 
$
—

 
$
(85.5
)
Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(5.1
)
 
(7.9
)
 
—

 
(13.0
)
Intercompany accounts
—

 
4.1

 
—

 
(4.1
)
 
—

Net cash flows of investing activities
—

 
(1.0
)
 
(7.9
)
 
(4.1
)
 
(13.0
)
Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(9.2
)
 
—

 
—

 
—

 
(9.2
)
Intercompany accounts
5.7

 
(20.0
)
 
10.2

 
4.1

 
—

Proceeds from debt
—

 
306.0

 
232.8

 
—

 
538.8

Repayments of debt
—

 
(258.2
)
 
(201.3
)
 
—

 
(459.5
)
Net cash flows of financing activities
(3.5
)
 
27.8

 
41.7

 
4.1

 
70.1

Effect of exchange rate changes on cash, cash equivalents and restricted cash
—

 
(1.7
)
 
(0.2
)
 
—

 
(1.9
)
Increase (decrease) in cash, cash equivalents and restricted cash
—

 
—

 
(30.3
)
 
—

 
(30.3
)
Cash, cash equivalents and restricted cash – beginning of period
—

 
—

 
96.2

 
—

 
96.2

Cash, cash equivalents and restricted cash – end of period
$
—

 
$
—

 
$
65.9

 
$
—

 
$
65.9


Condensed Statements of Cash Flows Information
Three Fiscal Months Ended March 31, 2017
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities
$
(26.1
)
 
$
(61.6
)
 
$
(0.8
)
 
$
—

 
$
(88.5
)
Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(20.8
)
 
(14.4
)
 
—

 
(35.2
)
Proceeds from properties sold
—

 
0.1

 
0.2

 
—

 
0.3

Disposal of subsidiaries, net of cash disposed of
—

 
5.3

 
—

 
—

 
5.3

Other
—

 
0.2

 
(0.2
)
 
—

 
—

Net cash flows of investing activities
—

 
(15.2
)
 
(14.4
)
 
—

 
(29.6
)
Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(9.4
)
 
—

 
—

 
—

 
(9.4
)
Intercompany accounts
35.5

 
(39.9
)
 
4.4

 
—

 
—

Proceeds from debt
—

 
645.3

 
86.4

 
—

 
731.7

Repayments of debt
—

 
(527.5
)
 
(94.9
)
 
—

 
(622.4
)
Net cash flows of financing activities
26.1

 
77.9

 
(4.1
)
 
—

 
99.9

Effect of exchange rate changes on cash, cash equivalents and restricted cash
—

 
0.6

 
0.2

 
—

 
0.8

Increase (decrease) in cash, cash equivalents and restricted cash
—

 
1.7

 
(19.1
)
 
—

 
(17.4
)
Cash, cash equivalents and restricted cash – beginning of period
—

 
1.0

 
102.6

 
—

 
103.6

Cash, cash equivalents and restricted cash – end of period
$
—

 
$
2.7

 
$
83.5

 
$
—

 
$
86.2
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 three fiscal months ended March 30, 2018 and the twelve fiscal months ended December 31, 2017:
(in millions)
 
March 30, 2018
 
December 31, 2017
Beginning Balance
 
$
1,022.7

 
$
1,092.4

Non-cash transactions
 
 
 
 
Deferred tax
 
—

 
53.8

Equity based awards
 
0.1

 
13.3

Foreign currency and other
 
—

 
0.6

Cash transactions
 
(5.7
)
 
(137.4
)
Ending Balance
 
$
1,017.1

 
$
1,022.7
Parent Company Long-Term Financing Arrangements
At March 30, 2018 and December 31, 2017, the Parent Company was party to the following long-term financing arrangements:
(in millions)
 
March 30, 2018
 
December 31, 2017
5.75% Senior Notes due 2022
 
$
600.0

 
$
600.0

Subordinated Convertible Notes due 2029
 
429.5

 
429.5

Debt discount
 
(252.4
)
 
(253.1
)
Debt issuance costs
 
(8.8
)
 
(9.1
)
Other
 
9.0

 
9.0

Total Parent Company debt
 
777.3

 
776.3

Less current maturities
 
—

 
—

Parent Company Long-term debt
 
$
777.3

 
$
776.3
Parent Company Debt Maturities
(in millions)
 
Q1 2019
 
Q1 2020
 
Q1 2021
 
Q1 2022
 
Q1 2023
Debt maturities twelve month period ending
 
$
—

 
$
—

 
$
—

 
$
—

 
$
600.0