Condensed consolidating guarantor financial information (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Consolidated Guarantor Financial Information [Abstract]

Condensed Consolidating Statements of Income (Loss) and Comprehensive Income (Loss)

CONDENSED CONSOLIDATING STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)

	Year Ended December 31, 2014
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net revenues	$	—		$	1,078,851		$	1,132,152		$	(371,171	)	$	1,839,832
Cost of goods sold	—			652,742			608,256			(363,594		)	897,404
Gross profit	—			426,109			523,896			(7,577		)	942,428
Selling, general and administrative expenses	42,829			326,282			209,930			(384		)	578,657
Research and development expenses	—			40,546			20,494			—			61,040
Restructuring and other impairment charges	—			10,189			7,680			—			17,869
Income (loss) from continuing operations before interest and taxes	(42,829		)	49,092			285,792			(7,193		)	284,862
Interest expense	144,869			(85,885		)	6,474			—			65,458
Interest income	—			(1		)	(705		)	—			(706		)
Income (loss) from continuing operations before taxes	(187,698		)	134,978			280,023			(7,193		)	220,110
Taxes (benefit) on income (loss) from continuing operations	(68,307		)	68,690			28,159			108			28,650
Equity in net income of consolidated subsidiaries	308,396			233,827			252			(542,475		)	—
Income from continuing operations	189,005			300,115			252,116			(549,776		)	191,460
Operating loss from discontinued operations	(2,196		)	—			(1,211		)	—			(3,407		)
Taxes (benefit) on loss from discontinued operations	(870		)	—			172			—			(698		)
Loss from discontinued operations	(1,326		)	—			(1,383		)	—			(2,709		)
Net income	187,679			300,115			250,733			(549,776		)	188,751
Less: Income from continuing operations attributable to noncontrolling interests	—			—			1,072			—			1,072
Net income attributable to common shareholders	187,679			300,115			249,661			(549,776		)	187,679
Other comprehensive loss attributable to common shareholders	(150,040		)	(130,691		)	(126,317		)	257,008			(150,040		)
Comprehensive income attributable to common shareholders	$	37,639		$	169,424		$	123,344		$	(292,768	)	$	37,639

	Year Ended December 31, 2013
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net revenues	$	—		$	1,001,404		$	963,184		$	(268,317	)	$	1,696,271
Cost of goods sold	—			582,110			543,717			(268,501		)	857,326
Gross profit	—			419,294			419,467			184			838,945
Selling, general and administrative expenses	39,176			284,960			178,358			(307		)	502,187
Research and development expenses	—			55,694			9,351			—			65,045
Restructuring and other impairment charges	935			15,288			22,229			—			38,452
Income (loss) from continuing operations before interest, loss on extinguishments of debt and taxes	(40,111		)	63,352			209,529			491			233,261
Interest expense	134,879			(85,058		)	7,084			—			56,905
Interest income	(15		)	(5		)	(604		)	—			(624		)
Loss on extinguishments of debt	1,250			—			—			—			1,250
Income (loss) from continuing operations before taxes	(176,225		)	148,415			203,049			491			175,730
Taxes (benefit) on income (loss) from continuing operations	(63,857		)	42,804			45,354			(754		)	23,547
Equity in net income of consolidated subsidiaries	263,469			141,773			288			(405,530		)	—
Income from continuing operations	151,101			247,384			157,983			(404,285		)	152,183
Operating loss from discontinued operations	(1,947		)	—			(258		)	—			(2,205		)
Taxes (benefit) on loss from discontinued operations	(1,727		)	(170		)	127			—			(1,770		)
Income (loss) from discontinued operations	(220		)	170			(385		)	—			(435		)
Net income	150,881			247,554			157,598			(404,285		)	151,748
Less: Income from continuing operations attributable to noncontrolling interests	—			—			867			—			867
Net income attributable to common shareholders	150,881			247,554			156,731			(404,285		)	150,881
Other comprehensive income attributable to common shareholders	21,193			1,960			5,442			(7,402		)	21,193
Comprehensive income attributable to common shareholders	$	172,074		$	249,514		$	162,173		$	(411,687	)	$	172,074

	Year Ended December 31, 2012
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net revenues	$	—		$	950,888		$	833,903		$	(233,782	)	$	1,551,009
Cost of goods sold	—			552,726			482,881			(232,823		)	802,784
Gross profit	—			398,162			351,022			(959		)	748,225
Selling, general and administrative expenses	34,657			259,476			160,089			267			454,489
Research and development expenses	—			48,649			7,629			—			56,278
Goodwill impairment	—			331,779			349			—			332,128
Restructuring and other impairment charges	—			598			2,439			—			3,037
Net gain on sales of businesses and assets	(116,193		)	(149,240		)	(332		)	265,433			(332		)
Income (loss) from continuing operations before interest and taxes	81,536			(93,100		)	180,848			(266,659		)	(97,375		)
Interest expense	143,653			(81,328		)	7,240			—			69,565
Interest income	(372		)	(23		)	(1,176		)	—			(1,571		)
Income (loss) from continuing operations before taxes	(61,745		)	(11,749		)	174,784			(266,659		)	(165,369		)
Taxes (benefit) on income (loss) from continuing operations	(63,806		)	45,068			35,670			(519		)	16,413
Equity in net income (loss) of consolidated subsidiaries	(190,742		)	124,918			—			65,824			—
Income (loss) from continuing operations	(188,681		)	68,101			139,114			(200,316		)	(181,782		)
Operating income (loss) from discontinued operations	(2,647		)	(9,179		)	2,619			—			(9,207		)
Tax benefit on income (loss) from discontinued operations	(1,271		)	(129		)	(487		)	—			(1,887		)
Income (loss) from discontinued operations	(1,376		)	(9,050		)	3,106			—			(7,320		)
Net income (loss)	(190,057		)	59,051			142,220			(200,316		)	(189,102		)
Less: Income from continuing operations attributable to noncontrolling interests	—			—			955			—			955
Net income (loss) attributable to common shareholders	(190,057		)	59,051			141,265			(200,316		)	(190,057		)
Other comprehensive income attributable to common shareholders	27,305			10,475			8,907			(19,382		)	27,305
Comprehensive income (loss) attributable to common shareholders	$	(162,752	)	$	69,526		$	150,172		$	(219,698	)	$	(162,752	)

Condensed Consolidating Balance Sheets

	December 31, 2014
	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Condensed Consolidated
	(Dollars in thousands)
ASSETS
Current assets
Cash and cash equivalents	$	27,996	$	—	$	275,240	$	—		$	303,236
Accounts receivable, net	2,346		2,422		265,081		3,855			273,704
Accounts receivable from consolidated subsidiaries	37,378		2,303,284		272,811		(2,613,473		)	—
Inventories, net	—		204,335		154,544		(23,286		)	335,593
Prepaid expenses and other current assets	14,301		4,786		16,610		—			35,697
Prepaid taxes	23,493		—		16,763		—			40,256
Deferred tax assets	30,248		17,387		9,666		—			57,301
Assets held for sale	2,901		—		4,521		—			7,422
Total current assets	138,663		2,532,214		1,015,236		(2,632,904		)	1,053,209
Property, plant and equipment, net	3,489		170,054		143,892		—			317,435
Goodwill	—		703,663		619,890		—			1,323,553
Intangibles assets, net	—		743,222		473,498		—			1,216,720
Investments in affiliates	5,662,773		1,359,661		21,253		(7,042,537		)	1,150
Deferred tax assets	52,244		—		5,535		(56,601		)	1,178
Notes receivable and other amounts due from consolidated subsidiaries	1,025,859		1,489,994		—		(2,515,853		)	—
Other assets	27,999		6,801		29,210		—			64,010
Total assets	$	6,911,027	$	7,005,609	$	2,308,514	$	(12,247,895	)	$	3,977,255
LIABILITIES AND EQUITY
Current liabilities
Current borrowings	$	363,701	$	—	$	4,700	$	—		$	368,401
Accounts payable	1,449		32,692		29,959		—			64,100
Accounts payable to consolidated subsidiaries	2,259,891		188,908		163,291		(2,612,090		)	—
Accrued expenses	17,149		21,479		33,755		—			72,383
Current portion of contingent consideration	—		11,276		—		—			11,276
Payroll and benefit-related liabilities	20,693		27,228		37,521		—			85,442
Accrued interest	9,152		—		17		—			9,169
Income taxes payable	—		—		13,768		—			13,768
Other current liabilities	5		3,065		7,290		—			10,360
Total current liabilities	2,672,040		284,648		290,301		(2,612,090		)	634,899
Long-term borrowings	700,000		—		—		—			700,000
Deferred tax liabilities	—		462,274		45,867		(56,600		)	451,541
Pension and other postretirement benefit liabilities	110,830		35,074		21,337		—			167,241
Noncurrent liability for uncertain tax positions	11,431		15,569		23,884		—			50,884
Notes payable and other amounts due to consolidated subsidiaries	1,483,984		932,718		103,908		(2,520,610		)	—
Other liabilities	21,433		24,900		12,658		—			58,991
Total liabilities	4,999,718		1,755,183		497,955		(5,189,300		)	2,063,556
Total common shareholders' equity	1,911,309		5,250,426		1,808,169		(7,058,595		)	1,911,309
Noncontrolling interest	—		—		2,390		—			2,390
Total equity	1,911,309		5,250,426		1,810,559		(7,058,595		)	1,913,699
Total liabilities and equity	$	6,911,027	$	7,005,609	$	2,308,514	$	(12,247,895	)	$	3,977,255

	December 31, 2013
	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Condensed Consolidated
	(Dollars in thousands)
ASSETS
Current assets
Cash and cash equivalents	$	42,749	$	14,500	$	374,735	$	—		$	431,984
Accounts receivable, net	1,822		10,948		279,048		3,472			295,290
Accounts receivable from consolidated subsidiaries	42,865		2,623,314		214,469		(2,880,648		)	—
Inventories, net	—		211,165		138,165		(15,709		)	333,621
Prepaid expenses and other current assets	15,200		6,870		17,740		—			39,810
Prepaid taxes	27,487		—		9,017		—			36,504
Deferred tax assets	20,218		22,472		10,230		(3		)	52,917
Assets held for sale	1,669		3,503		5,256		—			10,428
Total current assets	152,010		2,892,772		1,048,660		(2,892,888		)	1,200,554
Property, plant and equipment, net	14,189		188,455		123,256		—			325,900
Goodwill	—		797,671		556,532		—			1,354,203
Intangibles assets, net	—		962,243		293,354		—			1,255,597
Investments in affiliates	5,489,676		1,478,429		21,382		(6,987,772		)	1,715
Deferred tax assets	35,877		—		4,476		(39,410		)	943
Notes receivable and other amounts due from consolidated subsidiaries	1,049,344		873,105		14,169		(1,936,618		)	—
Other assets	24,574		7,447		38,074		—			70,095
Total assets	$	6,765,670	$	7,200,122	$	2,099,903	$	(11,856,688	)	$	4,209,007
LIABILITIES AND EQUITY
Current liabilities
Current borrowings	$	351,587	$	—	$	4,700	$	—		$	356,287
Accounts payable	2,194		45,802		23,971		—			71,967
Accounts payable to consolidated subsidiaries	2,644,296		147,957		88,395		(2,880,648		)	—
Accrued expenses	15,569		21,120		38,179		—			74,868
Current portion of contingent consideration	—		4,131		—		—			4,131
Payroll and benefit-related liabilities	15,976		21,818		35,296		—			73,090
Accrued interest	8,720		—		5		—			8,725
Income taxes payable	—		—		23,821		—			23,821
Other current liabilities	9,646		7,517		5,072		(4		)	22,231
Total current liabilities	3,047,988		248,345		219,439		(2,880,652		)	635,120
Long-term borrowings	930,000		—		—		—			930,000
Deferred tax liabilities	—		496,228		57,896		(39,409		)	514,715
Pension and other postretirement benefit liabilities	57,406		33,777		18,315		—			109,498
Noncurrent liability for uncertain tax positions	11,389		17,241		26,522		—			55,152
Notes payable and other amounts due to consolidated subsidiaries	785,476		957,451		197,173		(1,940,100		)	—
Other liabilities	19,884		16,221		12,401		—			48,506
Total liabilities	4,852,143		1,769,263		531,746		(4,860,161		)	2,292,991
Total common shareholders' equity	1,913,527		5,430,859		1,565,668		(6,996,527		)	1,913,527
Noncontrolling interest	—		—		2,489		—			2,489
Total equity	1,913,527		5,430,859		1,568,157		(6,996,527		)	1,916,016
Total liabilities and equity	$	6,765,670	$	7,200,122	$	2,099,903	$	(11,856,688	)	$	4,209,007

Condensed Consolidating Statements of Cash Flows

	Year Ended December 31, 2014
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations	$	(80,651	)	$	322,687		$	123,545		$	(75,340	)	$	290,241
Cash Flows from Investing Activities of Continuing Operations:
Expenditures for property, plant and equipment	(2,273		)	(30,586		)	(34,712		)	—			(67,571		)
Proceeds from sale of assets and investments	1,669			3,421			161			—			5,251
Payments for businesses and intangibles acquired, net of cash acquired	—			(17,241		)	(28,536		)	—			(45,777		)
Investments in affiliates	(60		)	20			—			—			(40		)
Intercompany dividends received	—			—			229,782			(229,782		)	—
Net cash (used in) provided by investing activities from continuing operations	(664		)	(44,386		)	166,695			(229,782		)	(108,137		)
Cash Flows from Financing Activities of Continuing Operations:
Proceeds from new borrowings	250,000			—			—			—			250,000
Repayment of long-term borrowings	(480,102		)	—			—			—			(480,102		)
Debt extinguishment, issuance and amendment fees	(4,494		)	—			—			—			(4,494		)
Proceeds from stock compensation plans and related tax impacts	4,245			—			—			—			4,245
Dividends	(56,258		)	—			—			—			(56,258		)
Payments to noncontrolling shareholders				—			(1,094		)	—			(1,094		)
Intercompany transactions	356,847			(292,801		)	(64,046		)	—			—
Intercompany dividends paid	—			—			(305,122		)	305,122			—
Net cash provided by (used in) financing activities from continuing operations	70,238			(292,801		)	(370,262		)	305,122			(287,703		)
Cash Flows from Discontinued Operations:
Net cash used in operating activities	(3,676		)	—			—			—			(3,676		)
Net cash used in discontinued operations	(3,676		)	—			—			—			(3,676		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(19,473		)	—			(19,473		)
Net decrease in cash and cash equivalents	(14,753		)	(14,500		)	(99,495		)	—			(128,748		)
Cash and cash equivalents at the beginning of the period	42,749			14,500			374,735			—			431,984
Cash and cash equivalents at the end of the period	$	27,996		$	—		$	275,240		$	—		$	303,236

	Year Ended December 31, 2013
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations	$	(131,031	)	$	205,954		$	304,278		$	(147,902	)	$	231,299
Cash Flows from Investing Activities of Continuing Operations:
Expenditures for property, plant and equipment	(1,553		)	(47,633		)	(14,394		)	—			(63,580		)
Payments for businesses and intangibles acquired, net of cash acquired	—			(250,912		)	(58,096		)	—			(309,008		)
Investments in affiliates	(50		)	—			—			—			(50		)
Net cash used in investing activities from continuing operations	(1,603		)	(298,545		)	(72,490		)	—			(372,638		)
Cash Flows from Financing Activities of Continuing Operations:
Proceeds from new borrowings	680,000			—			—			—			680,000
Repayment of long-term borrowings	(375,000		)	—			—			—			(375,000		)
Debt extinguishment, issuance and amendment fees	(6,400		)	—			—			—			(6,400		)
Proceeds from share based compensation plans and the related tax impacts	6,181			—			—			—			6,181
Dividends	(55,917		)	—			—			—			(55,917		)
Payments to noncontrolling shareholders	—			—			(736		)	—			(736		)
Payments for contingent consideration	—			(14,802		)	(2,156		)	—			(16,958		)
Intercompany transactions	(141,614		)	137,304			4,310			—			—
Intercompany dividends paid	—			(17,400		)	(130,502		)	147,902			—
Net cash provided by (used in) financing activities from continuing operations	107,250			105,102			(129,084		)	147,902			231,170
Cash Flows from Discontinued Operations:
Net cash used in operating activities	(2,727		)	—			(600		)	—			(3,327		)
Net cash used in discontinued operations	(2,727		)	—			(600		)	—			(3,327		)
Effect of exchange rate changes on cash and cash equivalents	—			—			8,441			—			8,441
Net (decrease) increase in cash and cash equivalents	(28,111		)	12,511			110,545			—			94,945
Cash and cash equivalents at the beginning of the period	70,860			1,989			264,190			—			337,039
Cash and cash equivalents at the end of the period	$	42,749		$	14,500		$	374,735		$	—		$	431,984

	Year Ended December 31, 2012
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations	$	(178,017	)	$	310,736		$	160,802		$	(98,903	)	$	194,618
Cash Flows from Investing Activities of Continuing Operations:
Expenditures for property, plant and equipment	(7,352		)	(39,118		)	(18,924		)	—			(65,394		)
Proceeds from sales of businesses and assets, net of cash sold	4,301			45,204			17,155			—			66,660
Payments for businesses and intangibles acquired, net of cash acquired	—			(105,195		)	(264,249		)	—			(369,444		)
Investments in affiliates	(80		)	—			—			—			(80		)
Net cash used in investing activities from continuing operations	(3,131		)	(99,109		)	(266,018		)	—			(368,258		)
Cash Flows from Financing Activities of Continuing Operations:
Decrease in notes payable and current borrowings	—			(421		)	(285		)	—			(706		)
Proceeds from share based compensation plans and the related tax impacts	8,238			—			—			—			8,238
Dividends	(55,589		)	—			—			—			(55,589		)
Payments for contingent consideration	—			(16,289		)	(1,307		)	—			(17,596		)
Intercompany transactions	196,850			(177,900		)	(18,950		)	—			—
Intercompany dividends paid	—			(16,900		)	(82,003		)	98,903			—
Net cash provided by (used in) financing activities from continuing operations	149,499			(211,510		)	(102,545		)	98,903			(65,653		)
Cash Flows from Discontinued Operations:
Net cash (used in) provided by operating activities	(12,022		)	4,223			—			—			(7,799		)
Net cash used in investing activities	—			(2,351		)	—			—			(2,351		)
Net cash (used in) provided by discontinued operations	(12,022		)	1,872			—			—			(10,150		)
Effect of exchange rate changes on cash and cash equivalents	—			—			2,394			—			2,394
Net (decrease) increase in cash and cash equivalents	(43,671		)	1,989			(205,367		)	—			(247,049		)
Cash and cash equivalents at the beginning of the period	114,531			—			469,557			—			584,088
Cash and cash equivalents at the end of the period	$	70,860		$	1,989		$	264,190		$	—		$	337,039