Condensed Consolidated Guarantor Financial Information (Tables)

3 Months Ended

Apr. 01, 2012

Condensed Consolidated Guarantor Financial Information [Abstract]

Schedule Of Condensed Consolidating Statements Of Income

	Three Months Ended April 1, 2012
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
		(Dollars in thousands)
Net revenues	$	—		$	245,687		$	204,921		$	(62,851	)	$	387,757
Cost of goods sold		—			147,525			115,287			(60,890	)		201,922
Gross profit		—			98,162			89,634			(1,961	)		185,835
Selling, general and administrative expenses		15,582			63,168			34,971			(343	)		113,378
Research and development expenses		—			9,916			1,646			—			11,562
Goodwill impairment		—			331,779			349			—			332,128
Restructuring and other impairment charges		—			(1,443	)		605			—			(838	)
Income (loss) from continuing operations before interest and taxes		(15,582	)		(305,258	)		52,063			(1,618	)		(270,395	)
Interest expense		36,749			(20,451	)		1,913			—			18,211
Interest income		(125	)		(8	)		(345	)		—			(478	)
Income (loss) from continuing operations before taxes		(52,206	)		(284,799	)		50,495			(1,618	)		(288,128	)
Taxes (benefit) on income from continuing operations		(17,921	)		287			13,897			(282	)		(4,019	)
Equity in net income of consolidated subsidiaries		(250,051	)		30,996			—			219,055			—
Income (loss) from continuing operations		(284,336	)		(254,090	)		36,598			217,719			(284,109	)
Operating income from discontinued operations		946			—			—			—			946
Taxes on income from discontinued operations		345			—			—			—			345
Income from discontinued operations		601			—			—			—			601
Net income (loss)		(283,735	)		(254,090	)		36,598			217,719			(283,508	)
Less: Income from continuing operations attributable to noncontrolling interests		—			—			227			—			227
Net income (loss) attributable to common shareholders	$	(283,735	)	$	(254,090	)	$	36,371		$	217,719		$	(283,735	)

	Three Months Ended March 27, 2011
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Condensed Consolidated
	(Dollars in thousands)
Net revenues	$	—		$	226,826		$	181,858		$	(54,680	)	$	354,004
Cost of goods sold		—			137,422			106,534			(54,456	)		189,500
Gross profit		—			89,404			75,324			(224	)		164,504
Selling, general and administrative expenses		9,389			59,465			33,696			656			103,206
Research and development expenses		—			9,384			1,654			—			11,038
Restructuring and other impairment charges		—			588			7			—			595
Income (loss) from continuing operations before interest, loss on extinguishments of debt and taxes		(9,389	)		19,967			39,967			(880	)		49,665
Interest expense		31,084			(15,013	)		75			—			16,146
Interest income		(2	)		(23	)		(80	)		—			(105	)
Loss on extinguishments of debt		14,597			—			—			—			14,597
Income (loss) from continuing operations before taxes		(55,068	)		35,003			39,972			(880	)		19,027
Taxes (benefit) on income from continuing operations		(19,067	)		13,861			11,475			(1,354	)		4,915
Equity in net income of consolidated subsidiaries		135,081			73,039			—			(208,120	)		—
Income from continuing operations		99,080			94,181			28,497			(207,646	)		14,112
Operating (loss) income from discontinued operations		(37,944	)		39,411			62,289			—			63,756
Taxes (benefit) on income from discontinued operations		(16,676	)		6,331			10,019			—			(326	)
Income (loss) from discontinued operations		(21,268	)		33,080			52,270			—			64,082
Net income		77,812			127,261			80,767			(207,646	)		78,194
Less: Income from continuing operations attributable to noncontrolling interests		—			—			223			—			223
Less: Income from discontinued operations attributable to noncontrolling interest		—			—			159			—			159
Net income attributable to common shareholders	$	77,812		$	127,261		$	80,385		$	(207,646	)	$	77,812

Schedule Of Condensed Consolidating Balance Sheets

	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Condensed Consolidated
	(Dollars in thousands)
ASSETS
Current assets
Cash and cash equivalents	$	94,646	$	—	$	496,275	$	—		$	590,921
Accounts receivable, net		555		303,839		494,396		(487,864	)		310,926
Inventories, net		—		194,630		115,861		(11,520	)		298,971
Prepaid expenses and other current assets		7,600		4,294		25,045		—			36,939
Prepaid taxes		27,510		—		10,167		—			37,677
Deferred tax assets		7,300		26,269		6,163		(420	)		39,312
Assets held for sale		—		2,738		5,288		—			8,026
Total current assets		137,611		531,770		1,153,195		(499,804	)		1,322,772
Property, plant and equipment, net		11,460		151,221		100,734		—			263,415
Goodwill		—		670,260		449,436		—			1,119,696
Intangibles assets, net		—		702,768		168,943		—			871,711
Investments in affiliates		5,019,605		983,656		20,292		(6,021,706	)		1,847
Deferred tax assets		64,488		—		2,008		(66,204	)		292
Other assets		41,467		2,567,079		173,760		(2,712,153	)		70,153
Total assets	$	5,274,631	$	5,606,754	$	2,068,368	$	(9,299,867	)	$	3,649,886
LIABILITIES AND EQUITY
Current liabilities
Current borrowings	$	—	$	—	$	4,700	$	—		$	4,700
Accounts payable		75,815		382,174		95,283		(490,942	)		62,330
Accrued expenses		22,798		26,693		35,018		—			84,509
Payroll and benefit-related liabilities		23,690		8,280		26,397		—			58,367
Derivative liabilities		1,496		—		—		—			1,496
Accrued interest		11,612		—		6		—			11,618
Income taxes payable		—		—		27,761		—			27,761
Current liability for uncertain tax positions		—		—		23,484		—			23,484
Deferred tax liabilities		—		—		1,501		(420	)		1,081
Total current liabilities		135,411		417,147		214,150		(491,362	)		275,346
Long-term borrowings		957,360		—		—		—			957,360
Deferred tax liabilities		—		417,424		61,436		(66,204	)		412,656
Pension and other postretirement benefit liabilities		137,539		33,907		15,618		—			187,064
Noncurrent liability for uncertain tax positions		13,288		18,281		31,468		—			63,037
Other liabilities		2,311,687		183		435,352		(2,714,645	)		32,577
Total liabilities		3,555,285		886,942		758,024		(3,272,211	)		1,928,040
Total common shareholders' equity		1,719,346		4,719,812		1,307,844		(6,027,656	)		1,719,346
Noncontrolling interest		—		—		2,500		—			2,500
Total equity		1,719,346		4,719,812		1,310,344		(6,027,656	)		1,721,846
Total liabilities and equity	$	5,274,631	$	5,606,754	$	2,068,368	$	(9,299,867	)	$	3,649,886

	December 31, 2011
	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Condensed Consolidated
	(Dollars in thousands)
ASSETS
Current assets
Cash and cash equivalents	$	114,531	$	—	$	469,557	$	—		$	584,088
Accounts receivable, net		269		304,813		464,834		(483,690	)		286,226
Inventories, net		—		201,147		107,188		(9,560	)		298,775
Prepaid expenses and other current assets		7,203		3,675		22,527		—			33,405
Prepaid taxes		24,006		—		4,869		(29	)		28,846
Deferred tax assets		8,659		26,886		5,883		(414	)		41,014
Assets held for sale		—		2,738		5,164		—			7,902
Total current assets		154,668		539,259		1,080,022		(493,693	)		1,280,256
Property, plant and equipment, net		8,208		149,300		94,404		—			251,912
Goodwill		—		1,001,353		437,189		—			1,438,542
Intangibles assets, net		—		711,962		167,825		—			879,787
Investments in affiliates		5,245,520		922,208		20,327		(6,186,047	)		2,008
Deferred tax assets		65,400		—		2,387		(67,509	)		278
Other assets		42,183		2,534,124		164,662		(2,669,649	)		71,320
Total assets	$	5,515,979	$	5,858,206	$	1,966,816	$	(9,416,898	)	$	3,924,103
LIABILITIES AND EQUITY
Current liabilities
Current borrowings	$	—	$	—	$	4,986	$	—		$	4,986
Accounts payable		101,907		387,612		64,694		(487,121	)		67,092
Accrued expenses		23,208		25,407		29,545		—			78,160
Payroll and benefit-related liabilities		24,031		13,867		26,488		—			64,386
Derivative liabilities		633		—		—		—			633
Accrued interest		10,948		—		12		—			10,960
Income taxes payable		—		—		21,113		(29	)		21,084
Current liability for uncertain tax positions		—		—		22,656		—			22,656
Deferred tax liabilities		—		—		1,465		(415	)		1,050
Total current liabilities		160,727		426,886		170,959		(487,565	)		271,007
Long-term borrowings		954,809		—		—		—			954,809
Deferred tax liabilities		—		433,078		55,264		(67,509	)		420,833
Pension and other postretirement benefit liabilities		145,533		34,034		15,417		—			194,984
Noncurrent liability for uncertain tax positions		12,678		18,437		30,573		—			61,688
Other liabilities		2,261,644		5,749		442,464		(2,671,858	)		37,999
Total liabilities		3,535,391		918,184		714,677		(3,226,932	)		1,941,320
Total common shareholders' equity		1,980,588		4,940,022		1,249,944		(6,189,966	)		1,980,588
Noncontrolling interest		—		—		2,195		—			2,195
Total equity		1,980,588		4,940,022		1,252,139		(6,189,966	)		1,982,783
Total liabilities and equity	$	5,515,979	$	5,858,206	$	1,966,816	$	(9,416,898	)	$	3,924,103

Schedule Of Condensed Consolidating Statements Of Cash Flows

	Three Months Ended April 1, 2012
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Condensed Consolidated
	(Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations	$	(44,812	)	$	72,411		$	(866	)	$	26,733
Cash Flows from Investing Activities of Continuing Operations:
Expenditures for property, plant and equipment		(3,588	)		(7,637	)		(3,804	)		(15,029	)
Net cash used in investing activities from continuing operations		(3,588	)		(7,637	)		(3,804	)		(15,029	)
Cash Flows from Financing Activities of Continuing Operations:
Decrease in notes payable and current borrowings		—			—			(286	)		(286	)
Proceeds from stock compensation plans		1,594			—			—			1,594
Dividends		(13,866	)		—			—			(13,866	)
Intercompany transactions		43,382			(64,774	)		21,392			—
Net cash provided by (used in) financing activities from continuing operations		31,110			(64,774	)		21,106			(12,558	)
Cash Flows from Discontinued Operations:
Net cash used in operating activities		(2,595	)		—			—			(2,595	)
Net cash used in discontinued operations		(2,595	)		—			—			(2,595	)
Effect of exchange rate changes on cash and cash equivalents		—			—			10,282			10,282
Net (decrease) increase in cash and cash equivalents		(19,885	)		—			26,718			6,833
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	$	94,646		$	—		$	496,275		$	590,921

	Three Months Ended March 27, 2011
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Condensed Consolidated
	(Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations	$	(63,122	)	$	48,509		$	21,873		$	7,260
Cash Flows from Investing Activities of Continuing Operations:
Expenditures for property, plant and equipment		(64	)		(4,110	)		(1,717	)		(5,891	)
Proceeds from sales of businesses and assets, net of cash sold		—			62,728			38,872			101,600
Payments for businesses and intangibles acquired, net of cash acquired		—			(30,570	)		—			(30,570	)
Net cash (used in) provided by investing activities from continuing operations		(64	)		28,048			37,155			65,139
Cash Flows from Financing Activities of Continuing Operations:
Proceeds from long-term borrowings		265,000			—			—			265,000
Repayment of long-term borrowings		(330,800	)		—			—			(330,800	)
Proceeds from stock compensation plans		6,764			—			—			6,764
Dividends		(13,614	)		—			—			(13,614	)
Debt and equity issuance and amendment fees		(14,838	)		—			—			(14,838	)
Intercompany transactions		160,785			(76,557	)		(84,228	)		—
Net cash provided by (used in) financing activities from continuing operations		73,297			(76,557	)		(84,228	)		(87,488	)
Cash Flows from Discontinued Operations:
Net cash (used in) provided by operating activities		(992	)		—			2,685			1,693
Net cash used in investing activities		(3	)		—			(799	)		(802	)
Net cash (used in) provided by discontinued operations		(995	)		—			1,886			891
Effect of exchange rate changes on cash and cash equivalents		—			—			8,044			8,044
Net increase (decrease) in cash and cash equivalents		9,116			—			(15,270	)		(6,154	)
Cash and cash equivalents at the beginning of the period		22,632			—			185,820			208,452
Cash and cash equivalents at the end of the period	$	31,748		$	—		$	170,550		$	202,298