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Total Equity (Tables)
3 Months Ended 12 Months Ended
Mar. 28, 2014
Dec. 31, 2013
Stockholders' Equity Note [Abstract]    
Schedule of Stockholders Equity

Condensed consolidated statements of changes in total equity are presented below for the three months ended March 28, 2014 and March 29, 2013 (in millions):

 

           General Cable Total Equity        
     Total
Equity
    Common
Stock
Amount
     Add’l
Paid in
Capital
     Treasury
Stock
    Retained
Earnings
    Accumulated
Other
Comprehensive
Income/(Loss)
    Non-Controlling
Interest
 

Balance, December 31, 2013

   $ 1,379.8      $ 0.6       $ 699.6       $ (155.3   $ 847.4      $ (112.1   $ 99.6   

Comprehensive income (loss)

     (349.3     —           —           —          (315.4     (8.9     (25.0

Stock dividends

     (9.0             (9.0    

Repurchase of common shares

     (30.7     —           —           (30.7     —          —          —     

Other — issuance pursuant to restricted stock, stock options and other

     2.5           2.2         0.3         
  

 

 

   

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Balance, March 28, 2014

   $ 993.3      $ 0.6       $ 701.8       $ (185.7   $ 523.0      $ (121.0   $ 74.6   
  

 

 

   

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

 

          General Cable Total Equity        
    Total
Equity
    Preferred
Stock
Amount
    Common
Stock
Amount
    Add’l
Paid in
Capital
    Treasury
Stock
    Retained
Earnings
    Accumulated
Other
Comprehensive
Income/(Loss)
    Non-Controlling
Interest
 

Balance, December 31, 2012

  $ 1,448.2      $ 3.8      $ 0.6      $ 676.7      $ (137.0   $ 892.2      $ (104.6   $ 116.5   

Comprehensive income (loss)

    (45.3             (45.7     (2.1     2.5   

Preferred stock dividend

    (0.1             (0.1    

Excess tax benefit from stock based compensation

    (1.0         (1.0        

Dividends paid to non-controlling interest

    (0.3                 (0.3

Other — issuance pursuant to restricted stock, stock options and other

    1.9            1.3        0.6            —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance, March 29, 2013

  $ 1,403.4      $ 3.8      $ 0.6      $ 677.0      $ (136.4   $ 846.4      $ (106.7   $ 118.7   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
 
Components of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) as of March 28, 2014 and December 31, 2013, respectively, consisted of the following (in millions):

 

     March 28, 2014     December 31, 2013  
     Company
Common
Shareholders
    Non-Controlling
Interest
    Company
Common
Shareholders
    Non-Controlling
Interest
 

Foreign currency translation adjustment

   $ (76.9   $ (25.5   $ (67.1   $ (24.5

Change in fair value of pension benefit obligation, net of tax

     (51.7     (2.9     (52.6     (2.9

Company deferred stock held in rabbi trust, net of tax

     7.3        —          7.3        —     

Other

     0.3        —          0.3        —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated other comprehensive income (loss)

   $ (121.0   $ (28.4   $ (112.1   $ (27.4
  

 

 

   

 

 

   

 

 

   

 

 

 

 

The following is the detail of the change in the Company’s accumulated other comprehensive income (loss) from December 31, 2013 to March 28, 2014 including the effect of significant reclassifications out of accumulated other comprehensive income (in millions, net of tax):

 

     Foreign
currency
translation
    Change of fair
value of pension
benefit obligation
    Deferred stock
held in rabbi
trust
     Other      Total  

Balance, December 31, 2013

   $ (67.1   $ (52.6   $ 7.3       $ 0.3       $ (112.1

Other comprehensive income before reclassifications

     (9.8     —          —           —           (9.8

Amounts reclassified from accumulated other comprehensive income

     —          0.9        —           —           0.9   

Net current — period other comprehensive income

     (9.8     0.9        —           —           (8.9
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Balance, March 28, 2014

   $ (76.9   $ (51.7   $ 7.3       $ 0.3       $ (121.0
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

The following is the detail of the change in the Company’s accumulated other comprehensive income (loss) from December 31, 2012 to March 29, 2013 including the effect of significant reclassifications out of accumulated other comprehensive income (in millions, net of tax):

 

     Foreign
currency
translation
    Change of fair
value of pension
benefit obligation
    Change in
fair value of
derivatives
    Deferred stock
held in rabbi
trust
     Other      Total  

Balance, December 31, 2012

   $ (27.9   $ (84.4   $ 0.1      $ 7.3       $ 0.3       $ (104.6

Other comprehensive income before reclassifications

     (4.2     —          (0.8     —           —           (5.0

Amounts reclassified from accumulated other comprehensive income

     —          2.7        0.2        —           —           2.9   
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Net current — period other comprehensive income

     (4.2     2.7        (0.6     —           —           (2.1
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Balance, March 29, 2013

   $ (32.1   $ (81.7   $ (0.5   $ 7.3       $ 0.3       $ (106.7
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

The components of accumulated other comprehensive income (loss) as of December 31, 2013 and December 31, 2012, respectively, consisted of the following (in millions):

 

     Fiscal Years Ended  
     December 31, 2013     December 31, 2012  
     Company
Common
Shareholders
    Noncontrolling
Interest
    Company
Common
Shareholders
    Noncontrolling
Interest
 

Foreign currency translation adjustment

   $ (67.1   $ (24.5   $ (27.9   $ (16.8

Pension adjustments, net of tax

     (52.6     (2.9     (84.4     (3.1

Change in fair value of derivatives, net of tax

     —          —          0.1        (0.4

Company deferred stock held in rabbi trust, net of tax

     7.3        —          7.3        —     

Other

     0.3        —          0.3        —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated other comprehensive income (loss)

   $ (112.1   $ (27.4   $ (104.6   $ (20.3
  

 

 

   

 

 

   

 

 

   

 

 

 

The following is the detail of the change in the Company’s accumulated other comprehensive income (loss) from December 31, 2012 to December 31, 2013 including the effect of significant reclassifications out of accumulated other comprehensive income as required by ASC 2013-02 (in millions, net of tax):

 

     Foreign
currency
translation
    Change of fair
value of pension
benefit
obligation
    Change in fair
value of
derivatives
    Deferred
stock held in
rabbi trust
     Other      Total  

Balance, December 31, 2012

   $ (27.9   $ (84.4   $ 0.1      $ 7.3       $ 0.3       $ (104.6

Other comprehensive income before reclassifications

     (39.2     13.6        (0.8     —           —           (26.4

Amounts reclassified from accumulated other comprehensive income

     —          18.2        0.7        —           —           18.9   
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Net current—period other comprehensive income (loss)

     (39.2     31.8        (0.1     —           —           (7.5
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Balance, December 31, 2013

   $ (67.1   $ (52.6   $  —        $ 7.3       $ 0.3       $ (112.1
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 
Reclassification out of Accumulated Other Comprehensive Income

The following is the detail of the reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 28, 2014 (in millions, net of tax):

 

    Three Fiscal Months
Ended March 28, 2014
    Three Fiscal Months
Ended March 29,
2013
       
    Amount reclassified
from accumulated
other comprehensive
income
    Amount reclassified
from accumulated
other comprehensive
income
    Affected line item
in the Consolidated
Statement of
Operations and
Comprehensive
Income (Loss)
 

Change in fair value of derivatives:

     

Commodity contracts

  $ —        $ 0.2        Cost of Sales   
 

 

 

   

 

 

   

Total — Change in fair value of derivatives

    —          0.2     
 

 

 

   

 

 

   

Amortization of defined pension items

     

Prior service cost

    0.2        2.3        SG&A   

Net loss

    0.7        0.4        SG&A   
 

 

 

   

 

 

   

Total — Amortization of defined benefit pension items

    0.9        2.7     
 

 

 

   

 

 

   

Total

  $ 0.9      $ 2.9     
 

 

 

   

 

 

   

The following is the detail of the reclassifications out of accumulated other comprehensive income (loss) for the year ended December 31, 2013 (in millions, net of tax):

 

     Year Ended,
December 31, 2013
        
     Amount reclassified
from accumulated
other comprehensive
income
     Affected line item
in the Consolidated
Statement of
Operations and
Comprehensive
Income (Loss)
 

Change in fair value of derivatives:

     

Commodity contracts

   $ 0.7         Cost of Sales   
  

 

 

    

Total—Change in fair value of derivatives

     0.7      
  

 

 

    

Amortization of defined pension items

     

Prior service cost

     1.7         SG&A   

Net loss

     16.5         SG&A   
  

 

 

    

Total—Amortization of defined benefit pension items

     18.2      
  

 

 

    

Total

   $ 18.9