15. Condensed Consolidating Financial Data

The Company's Senior Notes and Senior Subordinated Notes (see Note 6) are fully guaranteed, jointly and severally, by certain of the Company's domestic subsidiaries ("Guarantor Subsidiaries"). The guarantees of the Guarantor Subsidiaries are subject to release only in certain limited circumstances. The Company's non-United States subsidiaries and those domestic subsidiaries who are not guarantors ("Non-Guarantor Subsidiaries") are not guaranteeing these notes. Presented below is the condensed consolidating financial data of the Company ("Parent"), the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries on a consolidated basis as of March 31, 2012 and December 31, 2011 and for the three months ended March 31, 2012 and 2011.

Condensed Consolidating Results of Operations


	Three months ended March 31, 2012
(in millions)	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Net sales	$	—		$	941.1	$	705.3	$	(151.0	)	$	1,495.4
Costs and expenses		42.5			858.5		643.8		(151.0	)		1,393.8

Operating (loss) earnings		(42.5	)		82.6		61.5		—			101.6
Other expense, net		52.8			4.7		9.0		—			66.5
Equity in the income of subsidiaries		130.4			52.5		—		(182.9	)		—

Net income (loss)	$	35.1		$	130.4	$	52.5	$	(182.9	)	$	35.1


Comprehensive Income (Loss)	$	61.5		$	157.1	$	53.5	$	(210.6	)	$	61.5


(in millions)	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Net sales	$	—		$	833.7	$	683.0	$	(33.3	)	$	1,483.4
Costs and expenses		45.0			739.3		643.7		(33.3	)		1,394.7

Operating (loss) earnings		(45.0	)		94.4		39.3		—			88.7
Other expense, net		51.2			8.5		10.0		—			69.7
Equity in the income of subsidiaries		115.2			29.8		—		(145.0	)		—

Net income (loss)	$	19.0		$	115.7	$	29.3	$	(145.0	)	$	19.0


Comprehensive Income (Loss)	$	49.9		$	145.5	$	25.2	$	(170.7	)	$	49.9

Condensed Consolidating Balance Sheets


	As of March 31, 2012
(in millions)	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets	$	69.1	$	940.7	$	2,382.1	$	2.1		$	3,394.0
Investment in subsidiaries		5,589.0		1,610.8		—		(7,199.8	)		—
Non-current assets		117.6		3,979.5		892.1		(1,365.1	)		3,624.1

Total assets	$	5,775.7	$	6,531.0	$	3,274.2	$	(8,562.8	)	$	7,018.1

Liabilities and stockholders' equity
Current liabilities	$	184.1	$	539.8	$	930.9		—		$	1,654.8
Non-current liabilities		4,030.8		745.1		389.6		(1,363.0	)		3,802.5
Stockholders' equity		1,560.8		5,246.1		1,953.7		(7,199.8	)		1,560.8

Total liabilities and stockholders' equity	$	5,775.7	$	6,531.0	$	3,274.2	$	(8,562.8	)	$	7,018.1


	As of December 31, 2011
(in millions)	Parent		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets	$	359.0	$	995.9	$	2,140.0	$	(1.4	)	$	3,493.5
Investment in subsidiaries		5,688.8		1,748.1		—		(7,436.9	)		—
Non-current assets		114.5		4,003.9		914.0		(1,409.2	)		3,623.2

Total assets	$	6,162.3	$	6,747.9	$	3,054.0	$	(8,847.5	)	$	7,116.7

Liabilities and stockholders' equity
Current liabilities	$	260.8	$	589.0	$	614.1		(0.2	)	$	1,463.7
Non-current liabilities		3,989.5		507.0		654.9		(1,410.4	)		3,741.0
Stockholders' equity		1,912.0		5,651.9		1,785.0		(7,436.9	)		1,912.0

Total liabilities and stockholders' equity	$	6,162.3	$	6,747.9	$	3,054.0	$	(8,847.5	)	$	7,116.7

Condensed Consolidating Statements of Cash Flows


	Three months ended March 31, 2012
(in millions)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by (used in) operating activities	$	(52.0	)	$	31.3		$	(126.7	)	$	(147.4	)

Financing activities:
Net change in short-term debt		—			—			88.9			88.9
Proceeds (payments) from (to) intercompany transactions		20.2			(41.9	)		21.7			—
Proceeds from issuance of long-term debt		300.0			0.2			—			300.2
Payments on long-term debt		(110.1	)		(0.1	)		(2.9	)		(113.1	)
Issuance (repurchase) of common stock, net		(435.3	)		—			—			(435.3	)
Dividends paid		(7.5	)		—			—			(7.5	)
Other		2.4			—			—			2.4

Net cash provided by (used in) financing activities		(230.3	)		(41.8	)		107.7			(164.4	)


Investing Activities:
Additions to property, plant and equipment		(2.7	)		(12.8	)		(7.8	)		(23.3	)
Other		—			1.0			(1.0	)		—

Net cash used in investing activities		(2.7	)		(11.8	)		(8.8	)		(23.3	)

Effect of exchange rate changes on cash		—			—			8.0			8.0

Net decrease in cash and cash equivalents		(285.0	)		(22.3	)		(19.8	)		(327.1	)
Cash and cash equivalents at beginning of period		335.4			23.8			449.1			808.3


Cash and cash equivalents at end of period	$	50.4		$	1.5		$	429.3		$	481.2


	Three months ended March 31, 2011
(in millions)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by (used in) operating activities	$	(143.0	)	$	127.6		$	(151.9	)	$	(167.3	)

Financing activities:
Net change in short-term debt		—			—			6.1			6.1
Proceeds (payments) from (to) intercompany transactions		31.9			(103.6	)		71.7			—
Proceeds from issuance of long-term debt		1,025.0			—			—			1,025.0
Payments on long-term debt		(1,086.9	)		—			—			(1,086.9	)
Issuance (repurchase) of common stock, net		(32.3	)		—			—			(32.3	)
Dividends paid		(7.3	)		—			—			(7.3	)
Other		(10.2	)		—			—			(10.2	)


Net cash provided by (used in) financing activities		(79.8	)		(103.6	)		77.8			(105.6	)


Investing Activities:
Additions to property, plant and equipment		(0.3	)		(23.0	)		(3.7	)		(27.0	)
Other		—			1.0			—			1.0


Net cash used in investing activities		(0.3	)		(22.0	)		(3.7	)		(26.0	)


Effect of exchange rate changes on cash		—			—			9.1			9.1

Net increase (decrease) in cash and cash equivalents		(223.1	)		2.0			(68.7	)		(289.8	)
Cash and cash equivalents at beginning of period		287.1			15.5			392.8			695.4


Cash and cash equivalents at end of period	$	64.0		$	17.5		$	324.1		$	405.6

The amounts reflected as proceeds (payments) from (to) intercompany transactions represent cash flows originating from transactions conducted between Guarantor Subsidiaries, Non-Guarantor Subsidiaries and Parent in the normal course of business operations.