Supplemental Condensed Consolidating Balance Sheets (Tables)

6 Months Ended

Jul. 03, 2011

Supplemental Guarantor Information [Abstract]

Supplemental Condensed Consolidating Balance Sheets

Supplemental Condensed Consolidating Balance Sheets

	July 3, 2011
				Non-
				Guarantor
	Issuer			Subsidiaries		Eliminations			Total
				(Unaudited)
				(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	100,925		$	228,387	$	—		$	329,312
Receivables, net		129,875			233,498		—			363,373
Inventories, net		105,738			96,192		—			201,930
Deferred income taxes		4,634			4,463		—			9,097
Other current assets		7,132			11,443		—			18,575
Total current assets		348,304			573,983		—			922,287
Property, plant and equipment, less accumulated depreciation		120,296			171,497		—			291,793
Goodwill		220,842			133,007		—			353,849
Intangible assets, less accumulated amortization		67,402			93,855		—			161,257
Deferred income taxes		9,804			12,763		—			22,567
Other long-lived assets		12,042			60,431		—			72,473
Investment in subsidiaries		1,280,746			—		(1,280,746	)		—
	$	2,059,436		$	1,045,536	$	(1,280,746	)	$	1,824,226
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	95,638		$	143,500	$	—		$	239,138
Accrued liabilities		59,060			85,754		—			144,814
Total current liabilities		154,698			229,254		—			383,952
Long-term debt		550,984			—		—			550,984
Postretirement benefits		32,355			87,130		—			119,485
Other long-term liabilities		21,420			17,918		—			39,338
Intercompany accounts		(36,044	)		36,044		—			—
Total stockholders’ equity		1,336,023			675,190		(1,280,746	)		730,467
	$	2,059,436		$	1,045,536	$	(1,280,746	)	$	1,824,226

	December 31, 2010
				Non-
				Guarantor
	Issuer			Subsidiaries		Eliminations			Total
				(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	173,699		$	184,954	$	—		$	358,653
Receivables, net		117,303			180,963		—			298,266
Inventories, net		109,127			66,532		—			175,659
Deferred income taxes		5,590			3,883		—			9,473
Other current assets		10,199			8,605		—			18,804
Total current assets		415,918			444,937		—			860,855
Property, plant and equipment, less accumulated depreciation		120,857			158,009		—			278,866
Goodwill		258,094			64,462		—			322,556
Intangible assets, less accumulated amortization		93,695			50,125		—			143,820
Deferred income taxes		9,342			18,223		—			27,565
Other long-lived assets		12,771			50,051		—			62,822
Investment in subsidiaries		1,227,959			—		(1,227,959	)		—
	$	2,138,636		$	785,807	$	(1,227,959	)	$	1,696,484
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	92,996		$	119,088	$	—		$	212,084
Accrued liabilities		78,013			67,827		—			145,840
Total current liabilities		171,009			186,915		—			357,924
Long-term debt		551,155			—		—			551,155
Postretirement benefits		27,949			84,477		—			112,426
Other long-term liabilities		30,047			6,417		—			36,464
Intercompany accounts		(249,051	)		249,051		—			—
Total stockholders’ equity		1,607,527			258,947		(1,227,959	)		638,515
	$	2,138,636		$	785,807	$	(1,227,959	)	$	1,696,484

Supplemental Condensed Consolidating Statements of Operations

Supplemental Condensed Consolidating Statements of Operations (Unaudited)

	Three Months Ended July 3, 2011
				Non-
				Guarantor
	Issuer			Subsidiaries			Eliminations			Total
				(In thousands)
Revenues	$	281,225		$	302,918		$	(47,892	)	$	536,251
Cost of sales		(212,163	)		(215,366	)		47,892			(379,637	)
Gross profit		69,062			87,552			—			156,614
Selling, general and administrative expenses		(44,251	)		(40,129	)		—			(84,380	)
Research and development		(2,840	)		(11,690	)		—			(14,530	)
Amortization of intangibles		(820	)		(2,527	)		—			(3,347	)
Income from equity method investment		—			3,855			—			3,855
Operating income		21,151			37,061			—			58,212
Interest expense		(12,162	)		(586	)		—			(12,748	)
Interest income		29			127			—			156
Intercompany income (expense)		(13,004	)		13,004			—			—
Income (loss) from equity investment in subsidiaries		39,679			—			(39,679	)		—
Income (loss) from continuing operations before taxes		35,693			49,606			(39,679	)		45,620
Income tax expense		(812	)		(9,927	)		—			(10,739	)
Income (loss) from continuing operations		34,881			39,679			(39,679	)		34,881
Loss from discontinued operations, net of tax		(156	)		—			—			(156	)
Net income (loss)	$	34,725		$	39,679		$	(39,679	)	$	34,725
	Three Months Ended July 4, 2010
				Non-
				Guarantor
	Issuer			Subsidiaries			Eliminations			Total
				(In thousands)
Revenues	$	204,261		$	243,812		$	(37,510	)	$	410,563
Cost of sales		(146,720	)		(184,049	)		37,510			(293,259	)
Gross profit		57,541			59,763			—			117,304
Selling, general and administrative expenses		(38,111	)		(30,296	)		—			(68,407	)
Research and development		(2,603	)		(7,308	)		—			(9,911	)
Amortization of intangibles		(727	)		(1,860	)		—			(2,587	)
Income from equity method investment		—			3,211			—			3,211
Operating income		16,100			23,510			—			39,610
Interest expense		(14,443	)		257			—			(14,186	)
Interest income		30			106			—			136
Other income		—			1,465			—			1,465
Intercompany income (expense)		(1,009	)		1,009			—			—
Income (loss) from equity investment in subsidiaries		20,834			—			(20,834	)		—
Income (loss) from continuing operations before taxes		21,512			26,347			(20,834	)		27,025
Income tax benefit (expense)		73			(5,513	)		—			(5,440	)
Income (loss) from continuing operations		21,585			20,834			(20,834	)		21,585
Loss from discontinued operations, net of tax		(1,913	)		—			—			(1,913	)
Net income (loss)	$	19,672		$	20,834		$	(20,834	)	$	19,672

	Six Months Ended July 3, 2011
				Non-
				Guarantor
	Issuer			Subsidiaries			Eliminations			Total
	(In thousands)
Revenues	$	521,349		$	571,565		$	(95,035	)	$	997,879
Cost of sales		(388,902	)		(416,943	)		95,035			(710,810	)
Gross profit		132,447			154,622			—			287,069
Selling, general and administrative expenses		(83,818	)		(75,498	)		—			(159,316	)
Research and development		(5,650	)		(22,509	)		—			(28,159	)
Amortization of intangibles		(1,640	)		(5,386	)		—			(7,026	)
Income from equity method investment		—			7,717			—			7,717
Operating income		41,339			58,946			—			100,285
Interest expense		(23,944	)		(612	)		—			(24,556	)
Interest income		72			243			—			315
Intercompany income (expense)		(14,686	)		14,686			—			—
Income (loss) from equity investment in subsidiaries		55,653			—			(55,653	)		—
Income (loss) from continuing operations before taxes		58,434			73,263			(55,653	)		76,044
Income tax expense		(1,535	)		(17,610	)		—			(19,145	)
Income (loss) from continuing operations		56,899			55,653			(55,653	)		56,899
Loss from discontinued operations, net of tax		(284	)		—			—			(284	)
Net income (loss)	$	56,615		$	55,653		$	(55,653	)	$	56,615
	Six Months Ended July 4, 2010
				Non-
				Guarantor
	Issuer			Subsidiaries			Eliminations			Total
	(In thousands)
Revenues	$	396,702		$	473,498		$	(75,213	)	$	794,987
Cost of sales		(284,086	)		(358,400	)		75,213			(567,273	)
Gross profit		112,616			115,098			—			227,714
Selling, general and administrative expenses		(74,935	)		(62,207	)		—			(137,142	)
Research and development		(5,286	)		(14,933	)		—			(20,219	)
Amortization of intangibles		(1,465	)		(3,835	)		—			(5,300	)
Income from equity method investment		—			5,852			—			5,852
Operating income		30,930			39,975			—			70,905
Interest expense		(27,225	)		93			—			(27,132	)
Interest income		79			239			—			318
Other income		—			1,465			—			1,465
Intercompany income (expense)		(306	)		306			—			—
Income (loss) from equity investment in subsidiaries		32,279			—			(32,279	)		—
Income (loss) from continuing operations before taxes		35,757			42,078			(32,279	)		45,556
Income tax benefit (expense)		158			(9,799	)		—			(9,641	)
Income (loss) from continuing operations		35,915			32,279			(32,279	)		35,915
Loss from discontinued operations, net of tax		(4,496	)		—			—			(4,496	)
Net income (loss)	$	31,419		$	32,279		$	(32,279	)	$	31,419

Supplemental Condensed Consolidating Statements of Cash Flows

Supplemental Condensed Consolidating Statements of Cash Flows (Unaudited)

	Six Months Ended July 3, 2011
				Non-
				Guarantor
	Issuer			Subsidiaries			Total
				(In thousands)
Net cash provided by (used for) operating activities	$	(14,436	)	$	45,586		$	31,150
Cash flows from investing activities:
Cash used to acquire businesses, net of cash acquired		(52,418	)		—			(52,418	)
Capital expenditures		(9,615	)		(5,268	)		(14,883	)
Proceeds from disposal of tangible assets		1,201			21			1,222
Net cash used for investing activities		(60,832	)		(5,247	)		(66,079	)
Cash flows from financing activities:
Cash dividends paid		(4,718	)		—			(4,718	)
Debt issuance costs		(3,296	)		—			(3,296	)
Tax benefit related to share-based compensation		1,796			—			1,796
Proceeds from exercises of stock options		4,554			—			4,554
Intercompany capital contributions		4,158			(4,158	)		—
Net cash provided by (used for) financing activities		2,494			(4,158	)		(1,664	)
Effect of currency exchange rate changes on cash and cash equivalents		—			7,252			7,252
Increase (decrease) in cash and cash equivalents		(72,774	)		43,433			(29,341	)
Cash and cash equivalents, beginning of period		173,699			184,954			358,653
Cash and cash equivalents, end of period	$	100,925		$	228,387		$	329,312

	Six Months Ended July 4, 2010
				Non-
				Guarantor
	Issuer			Subsidiaries			Total
				(In thousands)
Net cash provided by (used for) operating activities	$	93,832		$	(88,319	)	$	5,513
Cash flows from investing activities:
Capital expenditures		(7,658	)		(5,047	)		(12,705	)
Proceeds from disposal of tangible assets		2,314			18			2,332
Cash provided by other investing activities		163			—			163
Net cash used for investing activities		(5,181	)		(5,029	)		(10,210	)
Cash flows from financing activities:
Payments under borrowing arrangements		(46,268	)		—			(46,268	)
Cash dividends paid		(4,712	)		—			(4,712	)
Tax deficiency related to share-based compensation		(210	)		—			(210	)
Proceeds from exercises of stock options		634			—			634
Net cash used for financing activities		(50,556	)		—			(50,556	)
Effect of currency exchange rate changes on cash and cash equivalents		—			(8,011	)		(8,011	)
Increase (decrease) in cash and cash equivalents		38,095			(101,359	)		(63,264	)
Cash and cash equivalents, beginning of period		58,855			250,024			308,879
Cash and cash equivalents, end of period	$	96,950		$	148,665		$	245,615