Condensed consolidating guarantor financial information (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Consolidated Guarantor Financial Information [Abstract]

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

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

	Year Ended December 31, 2016
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net revenues	$	—		$	1,112,464		$	1,124,958		$	(369,395	)	$	1,868,027
Cost of goods sold	—			652,442			588,110			(368,725		)	871,827
Gross profit	—			460,022			536,848			(670		)	996,200
Selling, general and administrative expenses	43,602			328,263			191,916			(473		)	563,308
Research and development expenses	547			33,080			24,952			—			58,579
Restructuring and other impairment charges	173			50,183			8,871			—			59,227
Gain on sale of assets	(2,707		)	(155		)	(1,505		)	—			(4,367		)
(Loss) income from continuing operations before   interest, loss on extinguishment of debt and taxes	(41,615		)	48,651			312,614			(197		)	319,453
Interest, net	153,830			(103,465		)	4,102			—			54,467
Loss on extinguishment of debt	19,261			—			—			—			19,261
(Loss) income from continuing operations before taxes	(214,706		)	152,116			308,512			(197		)	245,725
(Benefit) taxes on (loss) income from continuing operations	(78,478		)	46,758			39,875			(81		)	8,074
Equity in net income of consolidated subsidiaries	374,048			243,987			528			(618,563		)	—
Income from continuing operations	237,820			349,345			269,165			(618,679		)	237,651
Operating (loss) income from discontinued operations	(1,300		)	—			378			—			(922		)
Tax benefit on (loss) income from discontinued operations	(857		)	—			(255		)	—			(1,112		)
(Loss) income from discontinued operations	(443		)	—			633			—			190
Net income	237,377			349,345			269,798			(618,679		)	237,841
Less: Income from continuing operations attributable             to noncontrolling interest	—			—			464			—			464
Net income attributable to common shareholders	237,377			349,345			269,334			(618,679		)	237,377
Other comprehensive loss attributable to common shareholders	(66,761		)	(76,098		)	(80,700		)	156,798			(66,761		)
Comprehensive income attributable to common shareholders	$	170,616		$	273,247		$	188,634		$	(461,881	)	$	170,616

	Year Ended December 31, 2015
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net revenues	$	—		$	1,079,180		$	1,107,565		$	(377,055	)	$	1,809,690
Cost of goods sold	—			646,427			593,855			(374,995		)	865,287
Gross profit	—			432,753			513,710			(2,060		)	944,403
Selling, general and administrative expenses	42,435			336,049			191,029			(531		)	568,982
Research and development expenses	—			30,359			21,760			—			52,119
Restructuring charges	—			6,731			1,088			—			7,819
Gain on sale of assets	—			—			(408		)	—			(408		)
(Loss) income from continuing operations before   interest, loss on extinguishment of debt and taxes	(42,435		)	59,614			300,241			(1,529		)	315,891
Interest, net	132,711			(76,873		)	4,953			—			60,791
Loss on extinguishment of debt	10,454			—			—			—			10,454
(Loss) income from continuing operations before taxes	(185,600		)	136,487			295,288			(1,529		)	244,646
(Benefit) taxes on (loss) income from continuing operations	(66,264		)	27,260			46,804			38			7,838
Equity in net income of consolidated subsidiaries	355,138			235,810			1,086			(592,034		)	—
Income from continuing operations	235,802			345,037			249,570			(593,601		)	236,808
Operating (loss) income from discontinued operations	(1,734		)	—			4			—			(1,730		)
(Benefit) taxes on (loss) income from discontinued operations	(10,795		)	—			160			—			(10,635		)
Income (loss) from discontinued operations	9,061			—			(156		)	—			8,905
Net income	244,863			345,037			249,414			(593,601		)	245,713
Less: Income from continuing operations attributable              to noncontrolling interests	—			—			850			—			850
Net income attributable to common shareholders	244,863			345,037			248,564			(593,601		)	244,863
Other comprehensive loss attributable to common shareholders	(110,229		)	(110,604		)	(120,439		)	231,043			(110,229		)
Comprehensive income attributable to common    shareholders	$	134,634		$	234,433		$	128,125		$	(362,558	)	$	134,634

	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 charges	—			10,189			7,680			—			17,869
(Loss) income from continuing operations before interest and taxes	(42,829		)	49,092			285,792			(7,193		)	284,862
Interest, net	144,869			(85,886		)	5,769			—			64,752
(Loss) income from continuing operations before taxes	(187,698		)	134,978			280,023			(7,193		)	220,110
(Benefit) taxes on (loss) income 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		)
(Benefit) taxes 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		)	(105,872		)	(126,317		)	232,189			(150,040		)
Comprehensive income attributable to common shareholders	$	37,639		$	194,243		$	123,344		$	(317,587	)	$	37,639

Condensed Consolidating Balance Sheets

	December 31, 2016
	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Condensed Consolidated
	(Dollars in thousands)
ASSETS
Current assets
Cash and cash equivalents	$	14,571	$	1,031	$	528,187	$	—		$	543,789
Accounts receivable, net	2,551		8,768		255,815		4,859			271,993
Accounts receivable from consolidated subsidiaries	4,861		2,176,059		309,149		(2,490,069		)	—
Inventories, net	—		200,852		140,406		(25,087		)	316,171
Prepaid expenses and other current assets	14,239		5,332		17,474		3,337			40,382
Prepaid taxes	—		—		7,766		413			8,179
Assets held for sale	—		—		2,879		—			2,879
Total current assets	36,222		2,392,042		1,261,676		(2,506,547		)	1,183,393
Property, plant and equipment, net	2,566		163,847		136,486		—			302,899
Goodwill	—		708,546		568,174		—			1,276,720
Intangibles assets, net	—		640,999		450,664		—			1,091,663
Deferred tax assets	73,051		—		5,185		(76,524		)	1,712
Notes receivable and other amounts due from consolidated subsidiaries	1,387,615		2,085,538		—		(3,473,153		)	—
Other assets	6,044,337		1,525,285		29,962		(7,564,758		)	34,826
Total assets	$	7,543,791	$	7,516,257	$	2,452,147	$	(13,620,982	)	$	3,891,213
LIABILITIES AND EQUITY
Current liabilities
Current borrowings	$	133,071	$	—	$	50,000	$	—		$	183,071
Accounts payable	4,540		30,924		33,936		—			69,400
Accounts payable to consolidated subsidiaries	2,242,814		214,203		33,052		(2,490,069		)	—
Accrued expenses	16,827		18,126		30,196		—			65,149
Current portion of contingent consideration	—		587		—		—			587
Payroll and benefit-related liabilities	20,610		26,672		35,397		—			82,679
Accrued interest	10,429		—		21		—			10,450
Income taxes payable	1,246		—		6,577		85			7,908
Other current liabilities	2,262		3,643		2,497		—			8,402
Total current liabilities	2,431,799		294,155		191,676		(2,489,984		)	427,646
Long-term borrowings	850,252		—		—		—			850,252
Deferred tax liabilities	—		316,526		31,375		(76,524		)	271,377
Pension and postretirement benefit liabilities	85,645		31,561		15,856		—			133,062
Noncurrent liability for uncertain tax positions	1,169		13,684		2,667		—			17,520
Notes payable and other amounts due to consolidated subsidiaries	2,011,737		1,264,004		197,412		(3,473,153		)	—
Other liabilities	23,848		15,695		12,472		—			52,015
Total liabilities	5,404,450		1,935,625		451,458		(6,039,661		)	1,751,872
Convertible notes - redeemable equity component (Note 19)	1,824		—		—		—			1,824
Mezzanine Equity	1,824		—		—		—			1,824
Total common shareholders' equity	2,137,517		5,580,632		2,000,689		(7,581,321		)	2,137,517
Total liabilities and equity	$	7,543,791	$	7,516,257	$	2,452,147	$	(13,620,982	)	$	3,891,213

	December 31, 2015
	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Condensed Consolidated
	(Dollars in thousands)
ASSETS
Current assets
Cash and cash equivalents	$	21,612	$	—	$	316,754	$	—		$	338,366
Accounts receivable, net	2,538		4,326		251,166		4,386			262,416
Accounts receivable from consolidated subsidiaries	5,276		2,412,079		289,697		(2,707,052		)	—
Inventories, net	—		205,163		149,705		(24,593		)	330,275
Prepaid expenses and other current assets	10,511		4,702		16,037		3,665			34,915
Prepaid taxes	16,686		—		14,622		(413		)	30,895
Assets held for sale	2,901		—		4,071		—			6,972
Total current assets	59,524		2,626,270		1,042,052		(2,724,007		)	1,003,839
Property, plant and equipment, net	2,931		174,674		138,518		—			316,123
Goodwill	—		705,753		590,099		—			1,295,852
Intangibles assets, net	—		762,084		437,891		—			1,199,975
Deferred tax assets	91,432		—		8,042		(97,133		)	2,341
Notes receivable and other amounts due from consolidated subsidiaries	1,358,446		1,658,092		—		(3,016,538		)	—
Other assets	5,746,828		1,366,660		47,340		(7,107,184		)	53,644
Total assets	$	7,259,161	$	7,293,533	$	2,263,942	$	(12,944,862	)	$	3,871,774
LIABILITIES AND EQUITY
Current liabilities
Current borrowings	$	374,050	$	—	$	43,300	$	—		$	417,350
Accounts payable	1,945		27,527		36,833		—			66,305
Accounts payable to consolidated subsidiaries	2,478,109		201,400		27,543		(2,707,052		)	—
Accrued expenses	15,399		22,281		26,337		—			64,017
Current portion of contingent consideration	—		7,291		—		—			7,291
Payroll and benefit-related liabilities	21,617		29,305		33,736		—			84,658
Accrued interest	7,455		—		25		—			7,480
Income taxes payable	—		—		8,144		(85		)	8,059
Other current liabilities	1,300		2,679		4,981		—			8,960
Total current liabilities	2,899,875		290,483		180,899		(2,707,137		)	664,120
Long-term borrowings	641,850		—		—		—			641,850
Deferred tax liabilities	—		376,738		36,378		(97,133		)	315,983
Pension and postretirement benefit liabilities	100,355		32,274		16,812		—			149,441
Noncurrent liability for uncertain tax positions	1,151		17,722		21,527		—			40,400
Notes payable and other amounts due to consolidated subsidiaries	1,585,727		1,253,189		177,622		(3,016,538		)	—
Other liabilities	20,931		15,685		12,271		—			48,887
Total liabilities	5,249,889		1,986,091		445,509		(5,820,808		)	1,860,681
Total common shareholders' equity	2,009,272		5,307,442		1,816,612		(7,124,054		)	2,009,272
Noncontrolling interest	—		—		1,821		—			1,821
Total equity	2,009,272		5,307,442		1,818,433		(7,124,054		)	2,011,093
Total liabilities and equity	$	7,259,161	$	7,293,533	$	2,263,942	$	(12,944,862	)	$	3,871,774

Condensed Consolidating Statements of Cash Flows

	Year Ended December 31, 2016
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations	$	(85,088	)	$	169,400		$	328,553		$	(2,275	)	$	410,590
Cash flows from investing activities of continuing operations:
Expenditures for property, plant and equipment	(279		)	(24,753		)	(28,103		)	—			(53,135		)
Payments for businesses and intangibles acquired, net of cash acquired	—			(10,305		)	(50,572		)	46,837			(14,040		)
Proceeds from sale of assets	5,607			49,571			1,860			(46,837		)	10,201
Investments in affiliates	—			(5,600		)	—			5,600			—
Net cash provided by (used in) investing activities from continuing operations	5,328			8,913			(76,815		)	5,600			(56,974		)
Cash flows from financing activities of continuing operations:
Proceeds from new borrowings	665,000			—			6,700			—			671,700
Reduction in borrowings	(714,565		)	—			—			—			(714,565		)
Debt extinguishment, issuance and amendment fees	(8,958		)	—			—			—			(8,958		)
Proceeds from share based compensation plans    and the related tax impacts	9,068			—			—			—			9,068
Payments to noncontrolling interest shareholders	—			—			(464		)	—			(464		)
Payments for acquisition of noncontrolling interest	—			—			(9,231		)	—			(9,231		)
Payments for contingent consideration	—			(7,282		)	—			—			(7,282		)
Proceeds from issuance of shares	—			—			5,600			(5,600		)	—
Dividends paid	(58,960		)	—			—			—			(58,960		)
Intercompany transactions	183,244			(170,000		)	(13,244		)	—			—
Intercompany dividends paid	—			—			(2,275		)	2,275			—
Net cash provided by (used in) financing activities from continuing operations	74,829			(177,282		)	(12,914		)	(3,325		)	(118,692		)
Cash flows from discontinued operations:
Net cash used in operating activities	(2,110		)	—			—			—			(2,110		)
Net cash used in discontinued operations	(2,110		)	—			—			—			(2,110		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(27,391		)	—			(27,391		)
Net (decrease) increase in cash and cash equivalents	(7,041		)	1,031			211,433			—			205,423
Cash and cash equivalents at the beginning of the year	21,612			—			316,754			—			338,366
Cash and cash equivalents at the end of the year	$	14,571		$	1,031		$	528,187		$	—		$	543,789

	Year Ended December 31, 2015
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations	$	(147,704	)	$	134,817		$	320,145		$	(3,812	)	$	303,446
Cash flows from investing activities of continuing operations:
Expenditures for property, plant and equipment	(124		)	(32,797		)	(28,527		)	—			(61,448		)
Payments for businesses and intangibles acquired, net of cash acquired	—			(60,336		)	(33,472		)	—			(93,808		)
Proceeds from sale of assets	408			—			—			—			408
Investments in affiliates	—			—			(121,850		)	121,850			—
Net cash provided by (used in) investing activities from continuing operations	284			(93,133		)	(183,849		)	121,850			(154,848		)
Cash flows from financing activities of continuing operations:
Proceeds from new borrowings	288,100			—			—			—			288,100
Reduction in borrowings	(303,757		)	—			—			—			(303,757		)
Debt extinguishment, issuance and amendment fees	(9,017		)	—			—			—			(9,017		)
Proceeds from share based compensation plans and related tax impacts	4,994			—			—			—			4,994
Payments to noncontrolling interest shareholders	—			—			(1,343		)	—			(1,343		)
Payments for contingent consideration	—			(8,028		)	—			—			(8,028		)
Proceeds from issuance of shares	—			121,850			—			(121,850		)	—
Dividends paid	(56,532		)	—			—			—			(56,532		)
Intercompany transactions	219,035			(155,506		)	(63,529		)	—			—
Intercompany dividends paid	—			—			(3,812		)	3,812			—
Net cash provided by (used in) financing activities from continuing operations	142,823			(41,684		)	(68,684		)	(118,038		)	(85,583		)
Cash flows from discontinued operations:
Net cash used in operating activities	(1,787		)	—			(849		)	—			(2,636		)
Net cash used in discontinued operations	(1,787		)	—			(849		)	—			(2,636		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(25,249		)	—			(25,249		)
Net (decrease) increase in cash and cash equivalents	(6,384		)	—			41,514			—			35,130
Cash and cash equivalents at the beginning of the year	27,996			—			275,240			—			303,236
Cash and cash equivalents at the end of the year	$	21,612		$	—		$	316,754		$	—		$	338,366

	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	$	(105,467	)	$	347,503		$	52,634		$	(4,429	)	$	290,241
Cash flows from investing activities of continuing operations:
Expenditures for property, plant and equipment	(2,273		)	(30,586		)	(34,712		)	—			(67,571		)
Payments for businesses and intangibles acquired, net of cash acquired	—			(17,241		)	(28,536		)	—			(45,777		)
Proceeds from sale of assets and investments	1,669			3,421			161			—			5,251
Investments in affiliates	(60		)	20			—			—			(40		)
Net cash used in investing activities from continuing operations	(664		)	(44,386		)	(63,087		)	—			(108,137		)
Cash flows from financing activities of continuing operations:
Proceeds from new borrowings	250,000			—			—			—			250,000
Reduction in borrowings	(480,102		)	—			—			—			(480,102		)
Debt issuance and amendment fees	(4,494		)	—			—			—			(4,494		)
Proceeds from share based compensation plans and the related tax impacts	4,245			—			—			—			4,245
Payments to noncontrolling interest shareholders	—			—			(1,094		)	—			(1,094		)
Dividends paid	(56,258		)	—			—			—			(56,258		)
Intercompany transactions	381,663			(317,617		)	(64,046		)	—			—
Intercompany dividends paid	—			—			(4,429		)	4,429			—
Net cash provided by (used in) financing activities from continuing operations	95,054			(317,617		)	(69,569		)	4,429			(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 year	42,749			14,500			374,735			—			431,984
Cash and cash equivalents at the end of the year	$	27,996		$	—		$	275,240		$	—		$	303,236