0001193125-16-561444.txt : 20160428 0001193125-16-561444.hdr.sgml : 20160428 20160428093834 ACCESSION NUMBER: 0001193125-16-561444 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 56 CONFORMED PERIOD OF REPORT: 20160331 FILED AS OF DATE: 20160428 DATE AS OF CHANGE: 20160428 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARD C R INC /NJ/ CENTRAL INDEX KEY: 0000009892 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 221454160 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-06926 FILM NUMBER: 161597477 BUSINESS ADDRESS: STREET 1: 730 CENTRAL AVE CITY: MURRAY HILL STATE: NJ ZIP: 07974 BUSINESS PHONE: 9082778000 MAIL ADDRESS: STREET 1: 730 CENTRAL AVENUE CITY: MURRAY HILL STATE: NJ ZIP: 07974 10-Q 1 d162490d10q.htm FORM 10-Q Form 10-Q
Table of Contents

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 10-Q

 

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2016

Commission File Number 1-6926

 

 

C. R. BARD, INC.

(Exact name of registrant as specified in its charter)

 

 

 

New Jersey  

730 Central Avenue

Murray Hill, New Jersey 07974

  22-1454160
(State of incorporation)  

(Address of principal

executive offices)

 

(I.R.S. Employer

Identification No.)

Registrant’s telephone number, including area code: (908) 277-8000

 

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer   x    Accelerated filer   ¨
Non-accelerated filer   ¨  (Do not check if smaller reporting company)    Smaller reporting company   ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

Class

   Outstanding at March 31, 2016

Common Stock - $0.25 par value

   73,318,689

 

 

 


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

INDEX

 

         Page  

PART I – FINANCIAL INFORMATION

  

Item 1.

 

Financial Statements (unaudited)

  
 

Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2016 and 2015

     3   
 

Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2016 and 2015

     4   
 

Condensed Consolidated Balance Sheets – March 31, 2016 and December 31, 2015

     5   
 

Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2016 and 2015

     6   
 

Notes to Condensed Consolidated Financial Statements

     7   

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

     19   

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk

     28   

Item 4.

 

Controls and Procedures

     28   

PART II – OTHER INFORMATION

  

Item 1.

 

Legal Proceedings

     29   

Item 1A.

 

Risk Factors

     32   

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds

     32   

Item 5.

 

Other Information

     33   

Item 6.

 

Exhibits

     33   

Signatures

     34   

 

2


Table of Contents

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

C. R. BARD, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(dollars in thousands except per share amounts, unaudited)

 

     Three Months
Ended March 31,
 
     2016      2015  

Net sales

   $ 873,500       $ 819,700   

Costs and expenses:

     

Cost of goods sold

     320,400         311,200   

Marketing, selling and administrative expense

     270,600         235,700   

Research and development expense

     68,300         60,600   

Interest expense

     11,300         11,300   

Other (income) expense, net

     60,000         16,300   
  

 

 

    

 

 

 

Total costs and expenses

     730,600         635,100   
  

 

 

    

 

 

 

Income from operations before income taxes

     142,900         184,600   

Income tax provision

     26,700         44,800   
  

 

 

    

 

 

 

Net income

   $ 116,200       $ 139,800   
  

 

 

    

 

 

 

Basic earnings per share available to common shareholders

   $ 1.56       $ 1.85   
  

 

 

    

 

 

 

Diluted earnings per share available to common shareholders

   $ 1.54       $ 1.82   
  

 

 

    

 

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

3


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(dollars in thousands, unaudited)

 

 

     Three Months
Ended March 31,
 
     2016     2015  

Net income

   $ 116,200      $ 139,800   

Other comprehensive income (loss):

    

Change in derivative instruments designated as cash flow hedges, net of tax

     (9,200     100   

Foreign currency translation adjustments

     1,600        (53,700

Benefit plan adjustments, net of tax

     1,700        1,900   
  

 

 

   

 

 

 

Other comprehensive income (loss)

     (5,900     (51,700
  

 

 

   

 

 

 

Comprehensive income

   $ 110,300      $ 88,100   
  

 

 

   

 

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

4


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(dollars in thousands except share and per share amounts, unaudited)

 

     March 31,
2016
    December 31,
2015
 

ASSETS

    

Current assets

    

Cash and cash equivalents

   $ 765,000      $ 950,500   

Restricted cash

     210,600        80,400   

Accounts receivable, less allowances of $10,300 and $7,500, respectively

     458,100        445,100   

Inventories

     439,700        413,700   

Short-term deferred tax assets

     97,300        123,900   

Other current assets

     104,200        79,600   
  

 

 

   

 

 

 

Total current assets

     2,074,900        2,093,200   
  

 

 

   

 

 

 

Property, plant and equipment, at cost

     831,000        807,800   

Less accumulated depreciation and amortization

     357,100        335,400   
  

 

 

   

 

 

 

Net property, plant and equipment

     473,900        472,400   

Goodwill

     1,264,200        1,140,600   

Core and developed technologies, net

     728,200        744,300   

Other intangible assets, net

     383,200        274,800   

Deferred tax assets

     28,800        21,800   

Other assets

     223,700        192,100   
  

 

 

   

 

 

 

Total assets

   $ 5,176,900      $ 4,939,200   
  

 

 

   

 

 

 

LIABILITIES AND SHAREHOLDERS’ INVESTMENT

    

Current liabilities

    

Short-term borrowings and current maturities of long-term debt

   $ 525,600      $ 250,200   

Accounts payable

     96,800        70,700   

Accrued expenses

     623,000        730,000   

Accrued compensation and benefits

     140,300        187,900   

Income taxes payable

     7,900        23,000   
  

 

 

   

 

 

 

Total current liabilities

     1,393,600        1,261,800   
  

 

 

   

 

 

 

Long-term debt

     1,144,500        1,144,100   

Other long-term liabilities

     1,015,000        936,700   

Deferred income taxes

     163,900        141,300   

Commitments and contingencies

    

Shareholders’ investment:

    

Preferred stock, $1 par value, authorized 5,000,000 shares; none issued

     —          —     

Common stock, $0.25 par value, authorized 600,000,000 shares; issued and outstanding 73,318,689 shares at March 31, 2016 and 73,697,371 shares at December 31, 2015

     18,300        18,400   

Capital in excess of par value

     2,210,000        2,148,400   

Accumulated deficit

     (554,500     (503,500

Accumulated other comprehensive loss

     (213,900     (208,000
  

 

 

   

 

 

 

Total shareholders’ investment

     1,459,900        1,455,300   
  

 

 

   

 

 

 

Total liabilities and shareholders’ investment

   $ 5,176,900      $ 4,939,200   
  

 

 

   

 

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

5


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(dollars in thousands, unaudited)

 

     Three Months
Ended March 31,
 
     2016     2015  

Cash flows from operating activities:

    

Net income

   $ 116,200      $ 139,800   

Adjustments to reconcile net income to net cash provided by operating activities, net of acquired businesses:

    

Depreciation and amortization

     53,000        46,100   

Litigation charges

     48,900        10,300   

Restructuring and productivity initiative costs, net of payments

     7,700        3,300   

Deferred income taxes

     20,900        26,500   

Share-based compensation

     26,200        23,000   

Inventory reserves and provision for doubtful accounts

     9,300        5,200   

Other items

     1,000        1,300   

Changes in assets and liabilities, net of acquired businesses:

    

Accounts receivable

     6,100        8,600   

Inventories

     (21,300     (20,600

Current liabilities

     (138,200     (104,100

Taxes

     (40,100     (8,300

Other, net

     (22,500     (17,100
  

 

 

   

 

 

 

Net cash provided by operating activities

     67,200        114,000   
  

 

 

   

 

 

 

Cash flows from investing activities:

    

Capital expenditures

     (20,500     (29,200

Change in restricted cash

     (130,200     26,100   

Payments made for purchases of businesses, net of cash acquired

     (202,800     —     

Payments made for intangibles

     (200     (200
  

 

 

   

 

 

 

Net cash used in investing activities

     (353,700     (3,300
  

 

 

   

 

 

 

Cash flows from financing activities:

    

Change in short-term borrowings, net

     525,600        153,000   

Payment of long-term debt

     (250,000     —     

Proceeds from exercises under share-based compensation plans, net

     (6,500     5,300   

Excess tax benefit relating to share-based compensation plans

     19,000        17,600   

Purchases of common stock

     (167,400     (204,200

Dividends paid

     (18,000     (16,800

Payments of contingent consideration

     (100     (4,000
  

 

 

   

 

 

 

Net cash provided by (used in) financing activities

     102,600        (49,100
  

 

 

   

 

 

 

Effect of exchange rate changes on cash and cash equivalents

     (1,600     (17,500
  

 

 

   

 

 

 

(Decrease) increase in cash and cash equivalents during the period

     (185,500     44,100   
  

 

 

   

 

 

 

Balance at January 1

     950,500        960,100   
  

 

 

   

 

 

 

Balance at March 31

   $ 765,000      $ 1,004,200   
  

 

 

   

 

 

 

Supplemental cash flow information

    

Cash paid for:

    

Interest

   $ 16,600      $ 16,000   

Income taxes

     26,900        9,000   

Non-cash transactions:

    

Purchases of businesses and related costs

   $ 17,100      $ —     

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

6


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of C. R. Bard, Inc. and its subsidiaries (the “company” or “Bard”) should be read in conjunction with the audited consolidated financial statements and notes thereto included in Bard’s 2015 Annual Report on Form 10-K. These financial statements have been prepared on a basis that is substantially consistent with the accounting principles applied in the financial statements in Bard’s 2015 Annual Report on Form 10-K. The preparation of these financial statements requires the company to make estimates and judgments that affect reported amounts of assets, liabilities, revenues and expenses and the related disclosure of contingent assets and liabilities at the date of the financial statements. These financial statements include all normal and recurring adjustments necessary for a fair presentation. The accounts of most foreign subsidiaries are consolidated as of and for the quarters ended February 29, 2016 and February 28, 2015 and as of November 30, 2015. No events occurred related to these foreign subsidiaries during the months of March 2016, March 2015 or December 2015 that materially affected the financial position or results of operations of the company. The results for the interim periods presented are not necessarily indicative of the results expected for the year.

Recently Adopted Accounting Pronouncement

In April 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that requires debt issuance costs to be presented as a direct deduction from the carrying amount of the related debt rather than as an asset. In 2016, the company retrospectively adopted this update, as required, and the amounts reclassified from other assets to long-term debt on the consolidated balance sheets were not material.

New Accounting Pronouncements Not Yet Adopted

In March 2016, the FASB issued an accounting standard update that includes multiple provisions intended to simplify various aspects of the accounting for share-based payments, including the income tax items and the classification of these items on the statement of cash flows. This update will be effective as of the beginning of Bard’s 2017 fiscal year. The company is assessing this update and has not yet determined the impact to the consolidated financial statements.

In February 2016, the FASB issued a new accounting standard to use in the accounting for leases. The new standard will require, among other items, lessees to recognize most leases on the balance sheet by recording a right-of-use asset and a lease liability. This standard will be effective as of the beginning of Bard’s 2019 fiscal year. The company is assessing the new standard and has not yet determined the impact to the consolidated financial statements.

In November 2015, the FASB issued an accounting standard update that simplifies the balance sheet classification of deferred taxes. This update requires all deferred tax assets and liabilities to be reported as non-current in the balance sheet. This update will be effective as of the beginning of Bard’s 2017 fiscal year. Other than the reclassification to non-current of the short-term deferred tax assets and liabilities recognized in the consolidated balance sheets, this update is not expected to have a material impact on the company’s consolidated financial statements.

In May 2014, the FASB issued a new accounting standard that provides for a comprehensive model to use in the accounting for revenue arising from contracts with customers. Under this standard, revenue will be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The company continues to assess the new standard, as well as updates to the standard that have been proposed by the FASB, and has not yet determined the impact to the consolidated financial statements. The company will adopt the new standard beginning with Bard’s 2018 fiscal year.

2. Acquisitions

On January 21, 2016, the company acquired all of the outstanding shares of Liberator Medical Holdings, Inc. (“Liberator”), a publicly-held direct-to-consumer distributor of urological catheters, ostomy supplies, mastectomy fashions and diabetic medical supplies for a purchase price of $181.1 million. This acquisition enhances the company’s position in the home healthcare market in the United States. The acquisition was accounted for as a business combination, and the results of operations have been included in the company’s results since the acquisition date. The fair value of the assets acquired and the liabilities assumed results in the recognition of: customer relationships of $53.0 million; other intangibles of $26.0 million, primarily consisting of a trade name and non-compete agreements; deferred tax liabilities of $31.6 million, primarily associated with intangible assets; and other net assets of $11.9 million. The excess of the purchase price over fair value of the acquired net assets was recorded as goodwill of $121.8 million. The goodwill recognized includes the value of expected market expansion in the home healthcare market through Liberator’s direct-to-consumer capabilities that provide additional opportunity for market penetration. Additionally, synergies are expected to result from the alignment of sales call points

 

7


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

within the company’s sales organization. The goodwill is not deductible for tax purposes. Customer relationships and other intangible assets are being amortized over their weighted average estimated useful lives of approximately 12 years and 8 years, respectively. The company has not yet finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date become available.

On December 3, 2015, the company, through a wholly-owned foreign subsidiary, acquired all of the outstanding shares of Embo Medical Limited (“Embo”), a privately-held company headquartered in Galway, Ireland, specializing in the development of peripheral embolization devices. The total purchase consideration included an up-front cash payment of $21.0 million and the fair value of future additional milestone payments of up to $22.5 million that are contingent upon specific regulatory and revenue-related milestones being achieved, which had a fair value of $16.6 million as of the acquisition date. The acquisition was recognized in the first quarter of 2016 for this foreign subsidiary. The fair value of the assets acquired and the liabilities assumed resulted in the recognition of: an acquired in-process research and development asset (“IPR&D”) of $36.1 million related to the development of the CaterpillarTM vascular plug device; goodwill of $4.4 million; and other net liabilities of $2.9 million. The goodwill is not deductible for tax purposes. The fair value of the IPR&D asset was determined based upon the present value of expected future cash flows adjusted for the probability of technological and regulatory success, utilizing a risk-adjusted discount rate of 17.5%. The fair value of the future contingent consideration was determined utilizing a probability weighted cash flow estimate adjusted for the expected timing of the payment. The company has not yet finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date become available.

3. Earnings per Common Share

Earnings per share (“EPS”) is computed under the two-class method using the following common share information:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars and shares in millions)              

EPS Numerator:

     

Net income

   $ 116.2       $ 139.8   

Less: Income allocated to participating securities

     0.6         2.1   
  

 

 

    

 

 

 

Net income available to common shareholders

   $ 115.6       $ 137.7   
  

 

 

    

 

 

 

EPS Denominator:

     

Weighted average common shares outstanding

     74.0         74.4   

Dilutive common share equivalents from share-based compensation plans

     1.2         1.4   
  

 

 

    

 

 

 

Weighted average common and common equivalent shares outstanding, assuming dilution

     75.2         75.8   
  

 

 

    

 

 

 

4. Income Taxes

The company’s effective tax rate for the quarter ended March 31, 2016 was 18.7% compared to 24.3% for the same period in the prior year. The effective tax rate for the quarter ended March 31, 2016 reflected the discrete tax effects of litigation charges related to product liability claims, which were incurred in a high tax jurisdiction. See Note 7 of the notes to condensed consolidated financial statements.

At March 31, 2016, the total amount of liability for unrecognized tax benefits related to federal, state and foreign taxes was $23.3 million (of which $19.7 million would impact the effective tax rate, if recognized) plus $3.1 million of accrued interest. At December 31, 2015, the liability for unrecognized tax benefits was $22.3 million plus $2.8 million of accrued interest. Depending upon the result of open tax examinations and/or the expiration of applicable statutes of limitation, the company believes it is reasonably possible that the total amount of unrecognized tax benefits may decrease by up to $8.3 million within the next 12 months.

5. Financial Instruments

For further discussion regarding the company’s use of derivative instruments, see Note 1 of the notes to consolidated financial statements in Bard’s 2015 Annual Report on Form 10-K.

 

8


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

Foreign Exchange Derivative Instruments

The company enters into readily marketable forward and option contracts with financial institutions to help reduce its exposure to foreign currency exchange rate fluctuations. These contracts limit volatility because gains and losses associated with foreign currency exchange rate movements are generally offset by movements in the underlying hedged item. The notional value of the company’s forward currency and option currency contracts was $205.4 million and $191.6 million at March 31, 2016 and December 31, 2015, respectively.

Interest Rate Derivative Instruments

In January 2016, the company’s outstanding interest rate swap contract was terminated concurrent with the maturity of the underlying 2.875% fixed-rate notes. The notional value of the company’s interest rate swap contract was $250 million and effectively converted these fixed-rate notes to a floating-rate instrument.

The company maintains a forward starting interest rate swap contract which is intended to manage its exposure to interest rate volatility in anticipation of issuing fixed-rate debt. The company’s forward swap contract has a notional value of $250 million and a mandatory termination date of May 2016.

The location and fair value of derivative instruments that are designated as hedging instruments recognized in the condensed consolidated balance sheets are as follows:

 

     Balance Sheet
Location
   Fair Value
of Derivatives
 

Derivatives Designated as Hedging Instruments

      March 31,
2016
     December 31,
2015
 
(dollars in millions)                   

Forward currency contracts

   Other current assets    $ 1.2       $ 2.9   

Option currency contracts

   Other current assets      1.7         3.8   

Interest rate swap contract

   Other current assets      —           0.2   

Forward currency contracts

   Other assets      0.1         —     
     

 

 

    

 

 

 
      $ 3.0       $ 6.9   
     

 

 

    

 

 

 

Forward currency contracts

   Accrued expenses    $ 4.0       $ 6.2   

Interest rate swap contract

   Accrued expenses      22.5         8.0   
     

 

 

    

 

 

 
      $ 26.5       $ 14.2   
     

 

 

    

 

 

 

The location and amounts of gains and losses on derivative instruments designated as cash flow hedges and the impact on shareholders’ investment are as follows:

 

     Gain/(Loss)
Recognized in Other
Comprehensive
Income (Loss)
    Location of
Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss  into
Income
   Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss
into Income
 
     Three Months Ended
March 31,
       Three Months Ended
March 31,
 
     2016     2015        2016     2015  
(dollars in millions)                              

Forward currency contracts

   $ (0.8   $ 0.1      Cost of goods sold    $ (2.4   $ 0.8   

Option currency contracts

     (1.7     9.0      Cost of goods sold      1.8        1.1   

Interest rate swap contract

     (14.5     (7.9   Interest expense      —          —     
  

 

 

   

 

 

      

 

 

   

 

 

 
   $ (17.0   $ 1.2         $ (0.6   $ 1.9   
  

 

 

   

 

 

      

 

 

   

 

 

 

Financial Instruments Measured at Fair Value on a Recurring Basis

Fair value is defined as the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that is determined using assumptions that market participants would use in pricing an asset or liability. The fair value guidance establishes a three-level hierarchy which maximizes the use of observable inputs and minimizes the use of unobservable inputs used in measuring fair value. The levels within the hierarchy range from Level 1 having observable inputs to Level 3 having unobservable inputs.

 

9


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

The following table summarizes certain financial instrument assets and (liabilities) measured at fair value on a recurring basis:

 

     March 31,
2016
     December 31,
2015
 
(dollars in millions)              

Forward currency contracts

   $ (2.7    $ (3.3

Option currency contracts

     1.7         3.8   

Interest rate swap contracts

     (22.5      (7.8

The fair values were measured using significant other observable inputs and valued by reference to similar financial instruments, adjusted for restrictions and other terms specific to each instrument. These financial instruments are categorized as Level 2 under the fair value hierarchy.

The fair value of the liability for contingent consideration related to acquisitions was $22.8 million and $11.2 million at March 31, 2016 and December 31, 2015, respectively. The increase in the fair value of the liability for contingent consideration was primarily related to the addition of contingent consideration due to the acquisition of Embo and was partly offset by a reduction in the probability of the achievement of other unrelated revenue-based and manufacturing-related milestones. See Note 2 of the notes to condensed consolidated financial statements. The fair value was measured using significant unobservable inputs and is categorized as Level 3 under the fair value hierarchy.

Financial Instruments Not Measured at Fair Value

The company maintains a $1 billion five-year committed syndicated bank credit facility that expires in November 2020. The credit facility supports the company’s commercial paper program and can be used for general corporate purposes. The facility includes pricing based on the company’s long-term credit ratings and includes a financial covenant that limits the amount of total debt to total capitalization. At March 31, 2016 the company was in compliance with this covenant. The fair value of commercial paper borrowings outstanding of $525.6 million at March 31, 2016 approximated the carrying value. There were no commercial paper borrowings outstanding at December 31, 2015.

The estimated fair value of long-term debt (including current maturities and the effect of the related interest rate swap contract for the prior year period) was approximately $1,227.0 million and $1,449.8 million at March 31, 2016 and December 31, 2015, respectively. The decrease in fair value is primarily due to the company’s redemption of its $250 million 2.875% notes due January 2016. The fair value was estimated using dealer quotes for similarly-rated debt instruments over the remaining contractual term of the company’s obligation and is categorized as Level 2 under the fair value hierarchy.

The fair value of the non-contingent future payments related to the Medicon, Inc. acquisition of $70.9 million and $66.0 million at March 31, 2016 and December 31, 2015, respectively, approximated the carrying value. At March 31, 2016 and December 31, 2015, future payments of $54.1 million and $50.3 million, respectively, were recorded to other long-term liabilities. These payments will be paid in Japanese Yen and are subject to exchange rate fluctuations. The fair value was estimated by discounting the future payments based upon the timing of such payments and is categorized as Level 2 under the fair value hierarchy.

Concentration Risk

Accounts receivable balances include sales to government-supported healthcare systems outside the United States. The company monitors economic conditions and evaluates accounts receivable in certain countries for potential collection risks. Economic conditions and other factors in certain countries, particularly in Spain, Italy, Greece and Portugal, have resulted in, and may continue to result in, an increase in the average length of time that it takes to collect these accounts receivable and may require the company to re-evaluate the collectability of these receivables in future periods. At March 31, 2016, the company’s accounts receivable, net of allowances, from the national healthcare systems and private sector customers in these four countries was $49.6 million, of which $4.7 million was greater than 365 days past due.

 

10


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

6. Inventories

Inventories consisted of:

 

     March 31,
2016
     December 31,
2015
 
(dollars in millions)              

Finished goods

   $ 259.8       $ 252.3   

Work in process

     30.1         23.8   

Raw materials

     149.8         137.6   
  

 

 

    

 

 

 
   $ 439.7       $ 413.7   
  

 

 

    

 

 

 

7. Contingencies

In the ordinary course of business, the company is subject to various legal proceedings, investigations and claims, including, for example, environmental matters, employment disputes, disputes on agreements and other commercial disputes. In addition, the company operates in an industry susceptible to significant product liability and patent legal claims. The company accounts for estimated losses with respect to legal proceedings and claims when such losses are probable and reasonably estimable. If the estimate of a probable loss is a range and no amount within the range is more likely, the company accrues the minimum amount of the range. Legal costs associated with these matters are expensed as incurred. At any given time, in the ordinary course of business, the company is involved as either a plaintiff or defendant in a number of patent infringement actions. If a third party’s patent infringement claim were to be determined against the company, the company might be required to make significant royalty or other payments or might be subject to an injunction or other limitation on its ability to manufacture or distribute one or more products. If a patent owned by or licensed to the company is found to be invalid or unenforceable, the company might be required to reduce the value of certain intangible assets on the company’s balance sheet and to record a corresponding charge, which could be significant in amount. Many of the company’s legal proceedings and claims could have a material adverse effect on its business, results of operations, financial condition and/or liquidity.

Product Liability Matters

Hernia Product Claims

As of March 31, 2016, approximately 40 federal and 60 state lawsuits involving individual claims by approximately 100 plaintiffs, as well as one putative class action in the United States, are currently pending against the company with respect to its Composix® Kugel® and certain other hernia repair implant products (collectively, the “Hernia Product Claims”). The company voluntarily recalled certain sizes and lots of the Composix® Kugel® products beginning in December 2005. In June 2007, the Composix® Kugel® lawsuits and, subsequently, other hernia repair product lawsuits, pending in federal courts nationwide were transferred into one Multidistrict Litigation (“MDL”) for coordinated pre-trial proceedings in the United States District Court for the District of Rhode Island. The MDL stopped accepting new cases in the second quarter of 2014. As of March 31, 2016, all but one of the putative class actions pending against the company were dismissed. The remaining putative class action pending against the company has not been certified and seeks: (i) medical monitoring; (ii) compensatory damages; (iii) punitive damages; (iv) a judicial finding of defect and causation; and/or (v) attorneys’ fees. In April 2014, a settlement was reached with respect to the three putative Canadian class actions within amounts previously recorded by the company. Approximately 40 of the state lawsuits, involving individual claims by approximately 40 plaintiffs, are pending in the Superior Court of the State of Rhode Island, with the remainder in various other jurisdictions. The Hernia Product Claims also generally seek damages for personal injury resulting from use of the products.

The company has resolved the majority of its historical Hernia Product Claims, including through agreements or agreements in principle with various plaintiffs’ law firms to settle their respective inventories of cases. Each agreement involving the settlement of a firm’s inventory of claims was subject to certain conditions, including requirements for participation in the proposed settlements by a certain minimum number of plaintiffs. In addition, the company continues to engage in discussions with other plaintiffs’ law firms regarding potential resolution of unsettled Hernia Product Claims, and intends to vigorously defend Hernia Product Claims that do not settle, including through litigation. The company expects additional trials of Hernia Product Claims to take place over the next 12 months. The company cannot give any assurances that the resolution of the Hernia Product Claims that have not settled, including asserted and unasserted claims and the putative class action lawsuit, will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

 

11


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

Women’s Health Product Claims

As of March 31, 2016, product liability lawsuits involving individual claims by approximately 12,875 plaintiffs are currently pending against the company in various federal and state jurisdictions alleging personal injuries associated with the use of certain of the company’s surgical continence products for women. With respect to a majority of these lawsuits, the company believes that two subsidiaries of Medtronic plc (as successor in interest to Covidien plc) (“Medtronic”), each a supplier of the company, have an obligation to defend and indemnify the company with respect to any product defect liability. As described below, in July 2015 the company reached an agreement with Medtronic regarding certain aspects of Medtronic’s indemnification obligation. In addition, five putative class actions in the United States and five putative class actions in Canada have been filed against the company, and a limited number of other claims have been filed or asserted in various non-U.S. jurisdictions. The foregoing lawsuits, unfiled or unknown claims, putative class actions and other claims, together with claims that have settled or are the subject of agreements or agreements in principle to settle, are referred to collectively as the “Women’s Health Product Claims”. The Women’s Health Product Claims generally seek damages for personal injury resulting from use of the products. The putative class actions, none of which has been certified, seek: (i) medical monitoring; (ii) compensatory damages; (iii) punitive damages; (iv) a judicial finding of defect and causation; and/or (v) attorneys’ fees. In April 2015, the Ontario Superior Court of Justice dismissed the plaintiffs’ motion for class certification in one Canadian putative class action. In March 2016, the company reached an agreement in principle to resolve all Canadian putative class actions, with the exception of a Quebec class action, within amounts previously recorded by the company. The company expects administration of those settlements to take place over the next several quarters.

In October 2010, the Women’s Health Product Claims involving solely Avaulta® products pending in federal courts nationwide were transferred into an MDL in the United States District Court for the Southern District of West Virginia (the “WV District Court”), the scope of which was later expanded to include lawsuits involving all women’s surgical continence products that are manufactured or distributed by the company. The first trial in a state court was completed in California in July 2012 and resulted in a judgment against the company of approximately $3.6 million. On appeal the decision was affirmed by the appellate court in November 2014. The company filed a petition for review to the California Supreme Court on December 24, 2014, which was denied on February 18, 2015. The judgment in this matter, including interest and costs, was paid on March 20, 2015 within the amounts previously recorded by the company. The first trial in the MDL commenced in July 2013 and resulted in a judgment against the company of approximately $2 million, which was upheld by the Fourth Circuit on January 14, 2016. The company does not believe that any verdicts entered to date are representative of potential outcomes of all Women’s Health Product Claims. On January 16, 2014 and July 31, 2014, the WV District Court ordered that the company prepare 200 and then an additional 300 individual cases, respectively, for trial (the “WHP Pre-Trial Orders”) (the timing for which is currently unknown). The WHP Pre-Trial Orders resulted in significant additional litigation-related defense costs beginning in the second quarter of 2014 and continuing through the second quarter of 2015. In February 2015, the WV District Court appointed a Special Master to assist with settlement resolution. In June 2015, the WV District Court issued an order staying the requirement to prepare a significant portion of the cases covered by the WHP Pre-Trial Orders, which stay could be modified at the court’s discretion. The WHP Pre-Trial Orders may result in material additional cost in future periods in defending Women’s Health Product Claims. The WV District Court may also order that the company prepare additional cases for trial, which could result in material additional costs in future periods.

As of March 31, 2016, the company reached agreements or agreements in principle with various plaintiffs’ law firms to settle their respective inventories of cases totaling approximately 6,845 Women’s Health Product Claims, including approximately: 560 during 2014 and 6,285 during 2015. The company believes that these Women’s Health Product Claims are not the subject of Medtronic’s indemnification obligation. These settlement agreements and agreements in principle include unfiled and previously unknown claims held by various plaintiffs’ law firms, which have not been included in the approximate number of lawsuits set forth in the first paragraph of this section. Each agreement is subject to certain conditions, including requirements for participation in the proposed settlements by a certain minimum number of plaintiffs. The company continues to engage in discussions with other plaintiffs’ law firms regarding potential resolution of unsettled Women’s Health Product Claims, which may include additional inventory settlements. Notwithstanding these settlement efforts, the company anticipates additional trials over the next 12 months. In addition, one or more possible consolidated trials may occur in the future.

In July 2015, as part of the agreement noted above, Medtronic agreed to take responsibility for pursuing settlement of certain of the Women’s Health Product Claims that relate to products distributed by the company under supply agreements with Medtronic and the company has paid Medtronic $121 million towards these potential settlements. The company also may, in its sole discretion, transfer responsibility for settlement of additional Women’s Health Product Claims to Medtronic on similar terms. The agreement does not resolve the dispute between the company and Medtronic with respect to Women’s Health Product Claims that do not settle, if any. As part of the agreement, Medtronic and the company agreed to dismiss without prejudice their previously filed litigation with respect to Medtronic’s obligation to defend and indemnify the company.

 

12


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

The approximate number of lawsuits set forth in the first paragraph of this section does not include approximately 660 generic complaints involving women’s health products where the company cannot, based on the allegations in the complaints, determine whether any of those cases involve the company’s women’s health products. In addition, the approximate number of lawsuits set forth in the first paragraph of this section does not include approximately 1,070 claims that have been threatened against the company but for which complaints have not yet been filed. In addition, the company has limited information regarding the nature and quantity of these and other unfiled or unknown claims. During the course of engaging in settlement discussions with plaintiffs’ law firms, the company has learned, and may in future periods learn, additional information regarding these and other unfiled or unknown claims, or other lawsuits, which could materially impact the company’s estimate of the number of claims or lawsuits against the company. While the company continues to engage in discussions with other plaintiffs’ law firms regarding potential resolution of unsettled Women’s Health Product Claims and intends to vigorously defend the Women’s Health Product Claims that do not settle, including through litigation, it cannot give any assurances that the resolution of these claims will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

Filter Product Claims

As of March 31, 2016, product liability lawsuits involving individual claims by approximately 375 plaintiffs are currently pending against the company in various federal and state jurisdictions alleging personal injuries associated with the use of the company’s vena cava filter products (all lawsuits, collectively, the “Filter Product Claims”). In August 2015, the Judicial Panel for Multi-District Litigation (“JPML”) ordered the creation of a Multi-District Litigation for all federal Filter Product Claims (the “IVC Filter MDL”) in the District of Arizona. There are approximately 345 lawsuits that have been, or shortly will be, transferred to the IVC Filter MDL. The remaining approximately 30 lawsuits are pending in various state courts across the country. In March 2016, a Canadian class action was filed against the company in Quebec. The first Filter Product Claim trial was completed in June 2012 and resulted in a judgment for the company. During the second quarter of 2013, the company finalized settlement agreements with respect to more than 30 Filter Product Claims and made payments with respect to such claims within the amounts previously recorded by the company. The approximate number of lawsuits set forth above do not include approximately 75 claims that have been threatened against the company but for which complaints have not yet been filed. In addition, the company has limited information regarding the nature and quantity of these and other unfiled or unknown claims. The company continues to receive claims and lawsuits and may in future periods learn additional information regarding other unfiled or unknown claims, or other lawsuits, which could materially impact the company’s estimate of the number of claims or lawsuits against the company. The company expects that additional trials of Filter Product Claims may take place over the next 12 months. While the company intends to vigorously defend Filter Product Claims that do not settle, including through litigation, it cannot give any assurances that the resolution of these claims will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

General

In most product liability litigations (like those described above), plaintiffs allege a wide variety of claims, ranging from allegations of serious injury caused by the products to efforts to obtain compensation notwithstanding the absence of any injury. In many of these cases, the company has not yet received and reviewed complete information regarding the plaintiffs and their medical conditions and, consequently, is unable to fully evaluate the claims. The company expects that it will receive and review additional information regarding any remaining unsettled product liability matters.

The company believes that some settlements and judgments, as well as some legal defense costs, relating to product liability matters are or may be covered in whole or in part under its product liability insurance policies with a limited number of insurance carriers, or, in some circumstances, indemnification obligations to the company from other parties. In certain circumstances, insurance carriers reserve their rights with respect to coverage, or contest or deny coverage, as has occurred with respect to certain claims. In addition, other parties may dispute their indemnification obligations to the company with respect to certain claims. When either of these occur, the company intends to vigorously contest disputes with respect to its insurance coverage or indemnification and to enforce its rights, and accordingly, will record expected recoveries with respect to amounts due under these policies or arrangements, when recovery is probable. Amounts recovered under the company’s product liability insurance policies or indemnification arrangements may be less than the stated coverage limits or less than otherwise expected and may not be adequate to cover damages and/or costs relating to claims. In addition, there is no guarantee that insurers or other parties will pay claims or that coverage or indemnity will be otherwise available.

 

13


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

The company’s insurance coverage with respect to the Hernia Product Claims has been exhausted. The company continues to evaluate its available insurance coverage as it relates to Women’s Health Product Claims and Filter Product Claims.

Other Legal Matters

Since early 2013, the company has received subpoenas or Civil Investigative Demands from a number of State Attorneys General seeking information related to the sales and marketing of certain of the company’s products that are the subject of the Hernia Product Claims and the Women’s Health Product Claims. The company is cooperating with these requests. Since it is not feasible to predict the outcome of these proceedings, the company cannot give any assurances that the resolution of these proceedings will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

In November 2015, the Department of Defense Inspector General issued an investigative subpoena to the company. The Department of Health and Human Services is also participating in this investigation. The subpoena seeks documents related to the company’s sales and marketing of certain filter products, drug coated balloon catheters, and peripheral arterial disease detection products. The company is cooperating with these requests. Since it is not feasible to predict the outcome of these proceedings, the company cannot give any assurances that the resolution of these proceedings will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

In June 2011, W.L. Gore & Associates, Inc. (“Gore”) filed suit in the U.S. District Court in Delaware alleging the company had infringed on several of Gore’s patents. Fact and expert discovery have been completed and in the fourth quarter of 2014, the parties both filed a number of motions, including motions for summary judgment. Oral arguments on the motions occurred on January 30, 2015. In December 2015, the Delaware District Court granted the company’s motion of no willful infringement, thereby eliminating Gore’s request for enhanced damages. The company’s summary judgment motion of laches (undue delay) remains pending, which could impact the total potential damages period. In the third quarter of 2015 the company filed a motion to dismiss a significant portion of Gore’s damages claim on the grounds that Gore lacks proper standing. The trial on this matter has been continued until later in 2016. The company intends to vigorously defend the allegations asserted by Gore. The company cannot give any assurances that an adverse resolution of this matter will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

The company is subject to numerous federal, state, local and foreign environmental protection laws governing, among other things, the generation, storage, use and transportation of hazardous materials and emissions or discharges into the ground, air or water. The company is or may become a party to proceedings brought under various federal laws including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), commonly known as Superfund, the Resource Conservation and Recovery Act, the Clean Water Act, the Clean Air Act and similar state or foreign laws. These proceedings seek to require the owners or operators of contaminated sites, transporters of hazardous materials to the sites and generators of hazardous materials disposed of at the sites to clean up the sites or to reimburse the government for cleanup costs. In most cases, there are other potentially responsible parties that may be liable for remediation costs. In these cases, the government alleges that the defendants are jointly and severally liable for the cleanup costs; however, these proceedings are frequently resolved so that the allocation of cleanup costs among the parties more closely reflects the relative contributions of the parties to the site contamination. The company’s potential liability varies greatly from site to site. For some sites, the potential liability is de minimis and for others the costs of cleanup have not yet been determined. Accruals for estimated losses from environmental remediation obligations generally are recognized no later than completion of the remedial feasibility study and are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are not discounted to their present value. Recoveries of environmental remediation costs from other parties are recorded as assets when their receipt is deemed probable. The company believes that the proceedings and claims described above will likely be resolved over an extended period of time. While it is not feasible to predict the outcome of these proceedings, based upon the company’s experience, current information and applicable law, the company does not expect these proceedings to have a material adverse effect on its financial condition and/or liquidity. However, one or more of the proceedings could be material to the company’s business and/or results of operations.

Litigation Reserves

The company regularly monitors and evaluates the status of product liability and other legal matters, and may, from time-to-time, engage in settlement and mediation discussions taking into consideration developments in the matters and the risks and uncertainties surrounding litigation. These discussions could result in settlements of one or more of these claims at any time.

In the second quarter of 2014, the company recorded a charge, net of estimated recoveries to other (income) expense, net, of approximately $259.0 million ($238.0 million after tax) related to certain of the product liability matters discussed

 

14


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

above under the heading “Product Liability Matters”. The company recorded this charge based on additional information obtained during the quarter, including but not limited to: the allegations and documentation supporting or refuting such allegations; publicly available information regarding similar medical device mass tort settlements; historical information regarding other product liability settlements involving the company; and the procedural posture and stage of litigation. Specifically, the company considered its discussions with plaintiffs’ counsel, the increase in the rate of claims being filed (which led the company to increase its estimate of future Women’s Health Product Claims), and the value, number of cases and nature of the inventory of cases with respect to the recent settlements of claims by the company and other manufacturers.

In the second quarter of 2015, the company recorded an additional charge related to these matters, net of estimated recoveries to other (income) expense, net, of approximately $337.0 million ($325.0 million after tax). The company recorded this charge based on additional information obtained during the quarter, including with respect to the factors noted above. Specifically the company considered the agreement and the agreement in principle by the company to settle approximately 2,880 Women’s Health Product Claims, the involvement of the Special Master in settlement resolution, additional settlements by other manufacturers subject to product liability claims with respect to similar products, and the continued rate of claims being filed (which led the company to increase its estimate of future Women’s Health Product Claims).

In the third quarter of 2015, the company recorded an additional charge related to these matters to other (income) expense, net, of approximately $241.0 million ($228.0 million after tax). The company recorded this charge based on additional information obtained with respect to the quarter, including with respect to the factors noted above. Specifically, the company considered the agreements and the agreement in principle by the company to settle approximately 3,030 Women’s Health Product Claims, discussions with plaintiffs’ counsel, additional information learned regarding the nature and quantity of unfiled and unknown claims (which led the company to increase its estimate of future Women’s Health Product Claims), a reconciliation of claims in connection with settlements, additional settlements by other manufacturers subject to product liability claims with respect to similar products, the rate of claims being filed, and the creation of the IVC Filter MDL.

In the first quarter of 2016, the company recorded an additional charge related to these matters to other (income) expense, net, of approximately $49.0 million ($31.0 million after tax). The company recorded this charge based on additional information obtained with respect to the quarter. Specifically, the company considered, among other factors, additional information learned regarding the nature and quantity of unfiled and filed claims, the increase in advertising by plaintiffs’ counsel with respect to IVC filters and an increase in the rate of claims being filed in Filter Product Claims (which led the company to increase its estimate of future Filter Product Claims).

These charges recognized the estimated costs for the product liability matters discussed above, including (with respect to such matters) filed and an estimate of unfiled and unknown claims, and costs to administer the settlements related to such matters. These charges exclude any costs associated with the putative class action lawsuits in the United States.

The company cannot give any assurances that the actual costs incurred with respect to these product liability matters will not exceed the related amounts accrued. With respect to product liability claims that are not resolved through settlement, the company intends to vigorously defend against such claims, including through litigation. The company cannot give any assurances that the resolution of any of its product liability matters, including filed, unfiled and unknown claims and the putative class action lawsuits, will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

Accruals for product liability and other legal matters amounted to $1,167.1 million, of which $429.9 million was recorded to accrued expenses, and $1,174.3 million, of which $516.5 million was recorded to accrued expenses, at March 31, 2016 and December 31, 2015, respectively. The company has made total payments of $569.7 million to qualified settlement funds (“QSFs”), subject to certain settlement conditions, for certain product liability matters, of which $182.5 million were made to QSFs during the three months ended March 31, 2016. Payments to QSFs are recorded as a component of restricted cash. Total payments of $361.0 million from these QSFs have been made to qualified claimants, of which $52.3 million were made during the three months ended March 31, 2016. In addition, other payments of $63.7 million have been made to qualified claimants, of which $1.2 million were made during the three months ended March 31, 2016.

The company recorded expected recoveries related to product liability matters amounting to $164.2 million, of which $163.6 million was recorded to other assets, and $132.8 million, of which $132.1 million was recorded to other assets, at March 31, 2016 and December 31, 2015, respectively. The terms of the company’s agreement with Medtronic are substantially consistent with the assumptions underlying, and the manner in which, the company has recorded expected recoveries related to the indemnification obligation. The expected recoveries at March 31, 2016 and December 31, 2015 related to the indemnification obligation are not in dispute with respect to claims that Medtronic settles pursuant to the agreement. As described above, the agreement does not resolve the dispute between the company and Medtronic with respect to Women’s Health Product Claims that do not settle, if any, and the company also may, in its sole discretion, transfer responsibility for settlement of additional Women’s Health Product Claims to Medtronic on similar terms.

 

15


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

The company is unable to estimate the reasonably possible losses or range of losses, if any, arising from certain existing product liability matters and other legal matters. Under U.S. generally accepted accounting principles, an event is “reasonably possible” if “the chance of the future event or events occurring is more than remote but less than likely” and an event is “remote” if “the chance of the future event or events occurring is slight”. With respect to putative class action lawsuits in the United States and certain of the Canadian lawsuits relating to product liability matters, the company is unable to estimate a range of reasonably possible losses for the following reasons: (i) all or certain of the proceedings are in early stages; (ii) the company has not received and reviewed complete information regarding all or certain of the plaintiffs and their medical conditions; and/or (iii) there are significant factual issues to be resolved. In addition, there is uncertainty as to the likelihood of a class being certified or the ultimate size of the class. In addition, with respect to the investigative subpoenas issued by various state and federal government agencies and other legal matters, the company is unable to estimate a range of reasonably possible losses for the following reasons: (i) all or certain of the proceedings are in early stages; and/or (ii) there are significant factual issues to be resolved.

8. Share-Based Compensation Plans

The company may grant a variety of share-based payments under the 2012 Long Term Incentive Plan of C. R. Bard, Inc., as amended and restated (the “LTIP”) and the 2005 Directors’ Stock Award Plan of C. R. Bard, Inc., as amended and restated (the “Directors’ Plan”) to certain directors, officers and employees. The total number of remaining shares at March 31, 2016 that may be issued under the LTIP was 4,602,734 and under the Directors’ Plan was 26,102. Awards under the LTIP may be in the form of stock options, stock appreciation rights, limited stock appreciation rights, restricted stock, unrestricted stock and other stock-based awards. Awards under the Directors’ Plan may be in the form of stock awards, stock options or stock appreciation rights. The company also has two employee stock purchase programs.

For the quarters ended March 31, 2016 and 2015, amounts charged against income for share-based payment arrangements were $26.2 million and $23.0 million, respectively.

In the first quarter of each of 2016 and 2015, the company granted performance restricted stock units to certain officers. These units have requisite service periods of three years and have no dividend rights. The actual payout of these units varies based on the company’s performance over the three-year period based on pre-established targets over the period and a market condition modifier based on total shareholder return (“TSR”) compared to an industry peer group. The actual payout under these awards may exceed an officer’s target payout; however, compensation cost initially recognized assumes that the target payout level will be achieved and may be adjusted for subsequent changes in the expected outcome of the performance-related condition. The fair values of these units are based on the market price of the company’s stock on the date of the grant and use a Monte Carlo simulation model for the TSR component. The fair values of the TSR components of the 2016 and 2015 grants were estimated based on the following assumptions: risk-free interest rate of 0.83% and 0.86%, respectively; dividend yield of 0.52% and 0.51%, respectively; and expected life of 2.89 and 2.78 years, respectively.

As of March 31, 2016, there were $128.0 million of unrecognized compensation expenses related to share-based payment arrangements. These costs are expected to be recognized over a weighted-average period of approximately three years. The company has sufficient shares to satisfy expected share-based payment arrangements in 2016.

9. Pension Plans

The company has both tax-qualified and nonqualified, noncontributory defined benefit pension plans, that together cover certain domestic and foreign employees. These plans provide benefits based upon a participant’s compensation and years of service.

 

16


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

The components of net periodic pension cost are as follows:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

Service cost, net of employee contributions

   $ 7.3       $ 7.5   

Interest cost

     4.7         5.0   

Expected return on plan assets

     (8.1      (7.8

Amortization

     2.6         2.9   
  

 

 

    

 

 

 

Net periodic pension cost

   $ 6.5       $ 7.6   
  

 

 

    

 

 

 

In 2016, the company changed its method used to estimate the service and interest cost components of net periodic benefit cost for defined benefit plans from a single weighted-average discount rate to a full yield curve approach. The reduction in service and interest cost for the quarter ended March 31, 2016 associated with this change in estimate was approximately $1.3 million.

10. Shareholders’ Investment

The company repurchased approximately 0.9 million shares of common stock for $167.4 million in the three months ended March 31, 2016 under its previously announced share repurchase authorization.

Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component are as follows:

 

     Derivative
Instruments
Designated as
Cash Flow Hedges
    Foreign Currency
Translation
Adjustments
    Benefit
Plans
    Total  
(dollars in millions)                         

Balance at December 31, 2014

   $ 0.9      $ (3.1   $ (86.6   $ (88.8

Other comprehensive income (loss) before reclassifications

     0.2        (53.7     —          (53.5

Tax (provision) benefit (a)

     1.3        —          —          1.3   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss) before reclassifications, net of taxes

     1.5        (53.7     —          (52.2
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications

     (1.9 )(b)      —          2.9 (c)      1.0   

Tax provision (benefit)

     0.5        —          (1.0     (0.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications, net of tax

     (1.4     —          1.9        0.5   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss)

     0.1        (53.7     1.9        (51.7
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at March 31, 2015

   $ 1.0      $ (56.8   $ (84.7   $ (140.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2015

   $ (8.7   $ (94.2   $ (105.1   $ (208.0

Other comprehensive income (loss) before reclassifications

     (15.9     1.6        —          (14.3

Tax (provision) benefit (a)

     5.5        —          —          5.5   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss) before reclassifications, net of taxes

     (10.4     1.6        —          (8.8
  

 

 

   

 

 

   

 

 

   

 

 

 

 

17


Table of Contents

C. R. BARD, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

     Derivative
Instruments
Designated as
Cash Flow Hedges
    Foreign Currency
Translation
Adjustments
    Benefit
Plans
    Total  
(dollars in millions)                         

Reclassifications

     0.6 (b)      —          2.6 (c)      3.2   

Tax provision (benefit)

     0.6        —          (0.9     (0.3
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications, net of tax

     1.2        —          1.7        2.9   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss)

     (9.2     1.6        1.7        (5.9
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at March 31, 2016

   $ (17.9   $ (92.6   $ (103.4   $ (213.9
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) Income taxes are not provided for foreign currency translation adjustment.
(b) See Note 5 of the notes to condensed consolidated financial statements.
(c) These components are included in the computation of net periodic pension cost. See Note 9 of the notes to condensed consolidated financial statements.

11. Segment Information

The company’s management considers its business to be a single segment entity – the manufacture and sale of medical devices. The company’s products generally share similar distribution channels and customers. The company designs, develops, manufactures, packages, distributes and sells medical, surgical, diagnostic and patient care devices. The company sells a broad range of products to hospitals, individual healthcare professionals, extended care health facilities and alternate site facilities on a global basis. In general, the company’s products are intended to be used once and then discarded or either temporarily or permanently implanted. The company’s chief operating decision makers evaluate their various global product portfolios on a net sales basis and generally evaluate profitability and associated investment on an enterprise-wide basis due to shared geographic infrastructures.

Net sales based on the location of external customers by geographic region are:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

United States

   $ 625.4       $ 574.1   

Europe

     104.3         106.4   

Japan

     34.6         41.0   

Other

     109.2         98.2   
  

 

 

    

 

 

 
   $ 873.5       $ 819.7   
  

 

 

    

 

 

 

Total net sales by product group category are:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

Vascular

   $ 239.5       $ 231.9   

Urology

     216.7         205.6   

Oncology

     241.9         224.6   

Surgical Specialties

     151.4         135.9   

Other

     24.0         21.7   
  

 

 

    

 

 

 
   $ 873.5       $ 819.7   
  

 

 

    

 

 

 

 

18


Table of Contents

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This management’s discussion and analysis provides a review of the results of operations, financial condition and the liquidity and capital resources of C. R. Bard, Inc. and its subsidiaries (the “company” or “Bard”). The following discussion should be read in conjunction with Bard’s 2015 Annual Report on Form 10-K, and the condensed consolidated financial statements and notes thereto included elsewhere in this Form 10-Q. Certain statements contained herein may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995; see “Risks and Uncertainties; Cautionary Statement Regarding Forward-Looking Information” below.

Overview

The company designs, develops, manufactures, packages, distributes and sells medical, surgical, diagnostic and patient care devices. The company sells a broad range of products to hospitals, individual healthcare professionals, extended care health facilities and alternate site facilities on a global basis. Outside the United States, Europe, Japan and China are the company’s largest markets, while certain emerging markets in Asia, Latin America, and Eastern Europe are the company’s fastest-growing markets. In general, the company’s products are intended to be used once and then discarded or either temporarily or permanently implanted. The company reports sales in four major product group categories: vascular; urology; oncology; and surgical specialties. The company also has a product group category of other products.

The company’s earnings are driven by its ability to continue to generate sales of its products and improve operating efficiency. Bard’s ability to increase sales over time depends upon its success in developing, acquiring and marketing differentiated products that meet the needs of clinicians and their patients. For the three months ended March 31, 2016, the company’s research and development (“R&D”) expense as a percentage of net sales was 7.8%. The company also makes selective acquisitions of businesses, products and technologies, generally focusing on small-to-medium sized transactions to provide ongoing growth opportunities. In addition, the company may from time-to-time consider acquisitions of larger, established companies. The company may also periodically divest lines of business in which it is not able to reasonably attain or maintain a leadership position in the market or for other strategic reasons.

Acquisitions, Legal and Other Developments

Acquisitions

On January 21, 2016, the company acquired all of the outstanding shares of Liberator Medical Holdings, Inc. (“Liberator”), a publicly-held direct-to-consumer distributor of urological catheters, ostomy supplies, mastectomy fashions and diabetic medical supplies for a purchase price of $181.1 million. This acquisition enhances the company’s position in the home healthcare market in the United States. The purchase of Liberator was funded primarily with short-term borrowings.

On December 3, 2015, the company, through a wholly-owned foreign subsidiary, acquired all of the outstanding shares of Embo Medical Limited (“Embo”), a privately-held company headquartered in Galway, Ireland, specializing in the development of peripheral embolization devices. The total purchase consideration included an up-front cash payment of $21.0 million and the fair value of future additional milestone payments of up to $22.5 million that are contingent upon specific regulatory and revenue-related milestones being achieved, which had a fair value $16.6 million as of the acquisition date. The acquisition was recognized in the first quarter of 2016 for this foreign subsidiary. The purchase of Embo was funded by available cash on hand.

See Note 2 of the notes to condensed consolidated financial statements.

Legal Developments

In the first quarter of 2016, the company recorded an additional charge related to product liability matters to other (income) expense, net, of approximately $49.0 million ($31.0 million after tax).

For more information on legal matters, see Note 7 of the notes to condensed consolidated financial statements.

Medical Device Excise Tax

Beginning in 2013, the medical device industry was required to subsidize healthcare reform in the form of a 2.3% excise tax on United States sales of most medical devices. In December 2015, as part of the Omnibus Appropriations Act, the medical device excise tax was suspended for 2016 and 2017. During the quarter ended March 31, 2015, the company recorded to marketing, selling and administrative expense an excise tax of $6.5 million.

 

19


Table of Contents

Results of Operations

Net Sales

Bard’s consolidated net sales for the quarter ended March 31, 2016 increased 7% on a reported basis (8% on a constant currency basis) compared to the same period in the prior year. Net sales “on a constant currency basis” is a non-GAAP measure and should not be viewed as a replacement of GAAP results. See “Management’s Use of Non-GAAP Measures” below. Price changes had the effect of decreasing consolidated net sales for the quarter ended March 31, 2016 by approximately 40 basis points as compared to the same period in the prior year. The continued strength of the U.S. dollar, a trend that may continue, had the effect of decreasing consolidated net sales for the quarter ended March 31, 2016 by approximately one percentage point as compared to the same period in the prior year. The primary exchange rate fluctuation that impacted net sales was the movement of the Euro compared to the U.S. dollar. The impact of exchange rate fluctuations on net sales is not indicative of the impact on net earnings due to the offsetting impact of exchange rate movements on operating costs and expenses, costs incurred in other currencies and the company’s hedging activities.

Bard’s United States net sales of $625.4 million for the quarter ended March 31, 2016 increased 9% compared to $574.1 million in the prior year quarter. International net sales of $248.1 million for the quarter ended March 31, 2016 increased 1% on a reported basis (increased 7% on a constant currency basis) compared to $245.6 million in the prior year quarter.

A summary of net sales by product group category is as follows:

Product Group Summary of Net Sales

 

     Three Months Ended March 31,  
     2016      2015      Change     Constant
Currency
 
(dollars in millions)                           

Vascular

   $ 239.5       $ 231.9         3     5

Urology

     216.7         205.6         5     7

Oncology

     241.9         224.6         8     10

Surgical Specialties

     151.4         135.9         11     13

Other

     24.0         21.7         11     12
  

 

 

    

 

 

      

Total net sales

   $ 873.5       $ 819.7         7     8
  

 

 

    

 

 

      

Vascular Products - Bard markets a wide range of products for the peripheral vascular market, including endovascular products and vascular graft products. Also included within vascular products are royalty payments from W. L. Gore & Associates, Inc (“Gore”). Consolidated net sales of vascular products for the quarter ended March 31, 2016 increased 3% on a reported basis (5% on a constant currency basis) compared to the prior year quarter. This increase was primarily due to growth in sales of endovascular products. United States net sales of vascular products for the quarter ended March 31, 2016 increased 3% compared to the prior year quarter. International net sales of vascular products for the quarter ended March 31, 2016 increased 3% on a reported basis (10% on a constant currency basis) compared to the prior year quarter.

Consolidated net sales of endovascular products for the quarter ended March 31, 2016 increased 7% on a reported basis (9% on a constant currency basis) compared to the prior year quarter. Net sales in this product line for the quarter ended March 31, 2016 were favorably impacted by growth in sales of percutaneous transluminal angioplasty (“PTA”) balloon catheters, including drug-coated PTA balloon catheters, and biopsy products, and were partially offset by a decline in sales of stents, a trend that may continue.

Consolidated net sales of vascular graft products for the quarter ended March 31, 2016 decreased 1% on a reported basis (increased 3% on a constant currency basis) compared to the prior year quarter.

Urology Products - Bard markets a wide range of products for the urology market, including basic urology drainage products, fecal and urinary continence products and urological specialty products. Bard also markets StatLock® catheter stabilization products, which are used to secure many types of catheters sold by Bard and other companies, as well as Targeted Temperature Management™ products, which are used for therapeutic hypothermia. Consolidated net sales of urology products for the quarter ended March 31, 2016 increased 5% on a reported basis (7% on a constant currency basis) compared to the prior year quarter. This increase includes 7 percentage points of growth on both a reported basis and constant currency basis from direct-to-consumer sales as a result of the Liberator acquisition in January 2016. Consolidated net sales of urology products also included a decline of 6 percentage points on both a reported basis and constant currency basis from the impact of selling inventory acquired in the Medicon, Inc. (“Medicon”) acquisition during the quarter ended March 31, 2016, which was recorded as sales into the joint venture prior to the acquisition. Net sales were also favorably impacted by growth in sales

 

20


Table of Contents

of Targeted Temperature Management™ products. These increases were partially offset by declines in sales of StatLock® catheter stabilization products and surgical continence products, a trend that may continue. United States net sales of urology products for the quarter ended March 31, 2016 increased 16% compared to the prior year quarter. International net sales of urology products for the quarter ended March 31, 2016 decreased 15% on a reported basis (11% on a constant currency basis) compared to the prior year quarter. International net sales for the quarter ended March 31, 2016 reflected a decline in sales of basic drainage products. This decline reflects the impact of inventory acquired in the Medicon acquisition.

Consolidated net sales of basic drainage products for the quarter ended March 31, 2016 increased 4% on a reported basis (5% on a constant currency basis) compared to the prior year quarter.

Consolidated net sales of urological specialty products for the quarter ended March 31, 2016 increased 5% on a reported basis (8% on a constant currency basis) compared to the prior year quarter. The brachytherapy market has been losing procedural share to alternative therapies, a trend that may continue.

Consolidated net sales of continence products for the quarter ended March 31, 2016 increased 19% on a reported basis (22% on a constant currency basis) compared to the prior year quarter. This increase was primarily due to direct-to-consumer sales as a result of the Liberator acquisition. This increase was partially offset by a decline in sales of surgical continence products, a trend that is expected to continue.

Consolidated net sales of the StatLock® catheter stabilization product line for the quarter ended March 31, 2016 decreased 7% on a reported basis (5% on a constant currency basis) compared to the prior year quarter.

Oncology Products - Bard’s oncology business includes specialty vascular access products and enteral feeding devices. Specialty vascular access products include peripherally inserted central catheters (“PICCs”) used for intermediate to long-term central venous access, specialty access ports and accessories (“Ports”) used most commonly for chemotherapy, dialysis access catheters and vascular access ultrasound devices, which help facilitate the placement of PICCs. Consolidated net sales of oncology products for the quarter ended March 31, 2016 increased 8% on a reported basis (10% on a constant currency basis) compared to the prior year quarter. This increase was primarily due to growth in sales of PICCs and Ports. United States net sales of oncology products for the quarter ended March 31, 2016 increased 6% compared to the prior year quarter. International net sales of oncology products for the quarter ended March 31, 2016 increased 11% on a reported basis (19% on a constant currency basis) compared to the prior year quarter.

Consolidated net sales of PICCs for the quarter ended March 31, 2016 increased 8% on a reported basis (9% on a constant currency basis) compared to the prior year quarter.

Consolidated net sales of Ports for the quarter ended March 31, 2016 increased 6% on a reported basis (8% on a constant currency basis) compared to the prior year quarter.

Consolidated net sales of dialysis access catheters for the quarter ended March 31, 2016 increased 10% on a reported basis (12% on a constant currency basis) compared to the prior year quarter. Consolidated net sales of vascular access ultrasound devices for the quarter ended March 31, 2016 increased 13% on a reported basis (increased 15% on a constant currency basis) compared to the prior year quarter.

Surgical Specialty Products - Surgical specialty products include soft tissue repair products, performance irrigation devices and biosurgery products, including hemostats and sealants. Consolidated net sales of surgical specialty products for the quarter ended March 31, 2016 increased 11% on a reported basis (13% on a constant currency basis) compared to the prior year quarter. This increase was primarily due to growth in sales of synthetic hernia repair products and biosurgery products and was partially offset by a decline in sales of natural hernia repair products and a decline in sales of performance irrigation products, a trend that may continue. United States net sales of surgical specialty products for the quarter ended March 31, 2016 increased 12% compared to the prior year quarter. International net sales of surgical specialty products for the quarter ended March 31, 2016 increased 9% on a reported basis (16% on a constant currency basis) compared to the prior year quarter.

The soft tissue repair product line includes synthetic and natural tissue hernia repair implants, natural tissue breast reconstruction implants and hernia fixation products. Consolidated net sales of soft tissue repair products for the quarter ended March 31, 2016 increased 11% on a reported basis (13% on a constant currency basis) compared to the prior year quarter. Net sales in this product line were favorably impacted by growth in sales of synthetic hernia repair products and hernia fixation products and were partially offset by declines in sales of natural tissue hernia repair products.

Consolidated net sales of biosurgery products for the quarter ended March 31, 2016 increased 19% on a reported basis (20% on a constant currency basis) compared to the prior year quarter. Net sales in the product line were favorably impacted by growth in sales of hemostats and surgical sealant products.

 

21


Table of Contents

Consolidated net sales of performance irrigation products for the quarter ended March 31, 2016 decreased 7% on a reported basis (6% on a constant currency basis) compared to the prior year quarter.

Other Products - The other product group includes irrigation, wound drainage and certain original equipment manufacturers’ products.

Costs and Expenses

A summary of costs and expenses as a percentage of net sales is as follows:

 

     Three Months Ended
March 31,
 
     2016(A)     2015(A)  

Cost of goods sold

     36.7     38.0

Marketing, selling and administrative expense

     31.0     28.8

Research and development expense

     7.8     7.4

Interest expense

     1.3     1.4

Other (income) expense, net

     6.9     2.0
  

 

 

   

 

 

 

Total costs and expenses

     83.6     77.5
  

 

 

   

 

 

 

 

(A)  Amounts do not add due to rounding.

Cost of goods sold - Cost of goods sold consists principally of the manufacturing and distribution costs of the company’s products. The category also includes royalties paid by the company, amortization of intangible assets and the impact of certain hedging activities. Cost of goods sold as a percentage of net sales for the quarter ended March 31, 2016 decreased 130 basis points primarily due to the recognition of previously deferred profit on shipments to the joint venture prior to the Medicon acquisition, exchange rate fluctuations and other cost improvements. In addition, cost of goods sold for the quarters ended March 31, 2016 and 2015 included the reversal of liabilities with respect to certain revenue-based and manufacturing-related milestones. Incremental amortization of intangible assets primarily related to the acquisitions of Liberator, Vascular Pathways, Inc. and Medicon increased cost of goods sold as a percentage of net sales by approximately 50 basis points over the prior year quarter.

Marketing, selling and administrative expense - Marketing, selling and administrative expense consists principally of the costs associated with the company’s sales and administrative organizations. These costs as a percentage of net sales for the quarter ended March 31, 2016 increased 220 basis points compared to the prior year quarter primarily due to related costs from operations acquired in 2015 and 2016. This increase was partially offset by the suspension of the excise tax on medical device sales for 2016.

Research and development expense - Research and development expense consists principally of costs related to internal research and development activities, third-party research and development activities, and acquired in-process R&D (“IPR&D”) arising from the company’s business development activities. IPR&D costs may impact the comparability of the company’s results of operations between periods. Research and development expense for the quarter ended March 31, 2016 was $68.3 million, an increase of approximately 13% compared to the prior year quarter.

Interest expense - Interest expense was $11.3 million for both the quarters ended March 31, 2016 and 2015.

Other (income) expense, net - The components of other (income) expense, net, are as follows:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

Interest income

   $ (0.3    $ (0.3

Foreign exchange (gains) losses

     (1.9      0.3   

Litigation charges

     48.9         10.3   

Restructuring and productivity initiative costs

     9.8         3.9   

Acquisition-related items

     3.7         0.5   

Other, net

     (0.2      1.6   
  

 

 

    

 

 

 

Total other (income) expense, net

   $ 60.0       $ 16.3   
  

 

 

    

 

 

 

 

22


Table of Contents

Litigation charges – For the quarter ended March 31, 2016, the amount reflects the estimated costs for product liability matters. For the quarter ended March 31, 2015, the amount reflects litigation-related defense costs of $8.3 million in connection with the United States District Court for the Southern District of West Virginia’s pre-trial orders to prepare 500 individual cases for trial, and certain other litigation-related charges. See Note 7 of the notes to condensed consolidated financial statements.

Restructuring and productivity initiative costs – For the quarters ended March 31, 2016 and 2015, the amounts primarily reflect costs incurred in connection with productivity initiatives to optimize and streamline certain manufacturing and administrative functions to better align resources to the company’s business strategies. Key activities under these initiatives may include systems enhancements, the implementation of shared services centers designed to standardize and centralize processes or the outsourcing of certain services. Productivity initiative costs include consulting costs, primarily related to program creation and management, employee separation costs under the company’s existing severance program, and other related costs.

Acquisition-related items – For the quarters ended March 31, 2016 and 2015, the amounts primarily consist of acquisition-related integration costs. See Note 2 of the notes to condensed consolidated financial statements.

Income Tax Provision

The company’s effective tax rate for the quarter ended March 31, 2016 was 18.7% compared to 24.3% for the same period in the prior year. The effective tax rate for the quarter ended March 31, 2016 reflected the discrete tax effects of litigation charges related to product liability claims, which were incurred in a high tax jurisdiction. See Note 7 of the notes to condensed consolidated financial statements.

Net Income and Earnings Per Share Available to Common Shareholders

The company reported net income and diluted earnings per share available to common shareholders for the quarter ended March 31, 2016 of $116.2 million and $1.54, respectively. Net income and diluted earnings per share available to common shareholders for the prior year quarter were $139.8 million and $1.82, respectively. The current year quarter reflects litigation charges of $30.8 million, or $0.41 per diluted share, amortization of intangible assets of $21.4 million, or $0.28 per diluted share, restructuring and productivity initiative costs of $6.6 million, or $0.09 per diluted share, and net charges from acquisition-related items (primarily consisting of integration costs and purchase accounting adjustments) of $2.0 million, or $0.03 per diluted share. The prior year quarter reflects amortization of intangible assets of $19.2 million, or $0.25 per diluted share, litigation charges of $9.4 million, or $0.12 per diluted share, a net benefit from acquisition-related items (primarily consisting of purchase accounting adjustments) of $9.4 million, or $0.12 per diluted share, and restructuring and productivity initiative costs of $2.6 million, or $0.03 per diluted share.

Liquidity and Capital Resources

The company assesses its liquidity in terms of its ability to generate cash to fund its operating, investing and financing activities. Significant factors affecting the management of liquidity are cash flows generated from operating activities, capital expenditures, acquisitions of businesses and technologies, cash dividends and common stock repurchases. Cash provided from operations continues to be a primary source of funds. The company believes that it could borrow adequate funds at competitive terms should it be necessary. The company also believes that its overall financial strength gives it sufficient financial flexibility. A summary of certain liquidity measures for the company as of March 31, is as follows:

 

     2016      2015  
(dollars in millions)              

Working capital

   $ 681.3       $ 1,133.8   
  

 

 

    

 

 

 

Current ratio

     1.49/1         2.26/1   
  

 

 

    

 

 

 

Cash and cash equivalents held by the company’s foreign subsidiaries were $758.8 million and $881.6 million at March 31, 2016 and December 31, 2015, respectively. It is the company’s intention to permanently reinvest the majority of these funds outside the United States to finance foreign operations, and the company’s plans do not demonstrate a need to repatriate these funds. If these funds are needed for U.S. operations for currently unforeseen circumstances or can no longer be permanently reinvested outside the United States, the company would be required to accrue and pay U.S. taxes on the earnings associated with these funds. In the United States, ongoing operating cash flows and available borrowings under the company’s committed syndicated bank credit facility provide it with sufficient liquidity.

For the three months ended March 31, 2016 and 2015, net cash provided by operating activities was $67.2 million and $114.0 million, respectively. The decrease in net cash provided by operating activities is primarily due to a settlement payment pursuant to an agreement with Medtronic (see Note 7 of the notes to condensed consolidated financial statements) and higher payments to claimants for certain product liability matters in the current year period.

 

23


Table of Contents

For the three months ended March 31, 2016 and 2015, net cash used by investing activities was $353.7 million and $3.3 million, respectively. Capital expenditures were approximately $20.5 million and $29.2 million for the three months ended March 31, 2016 and 2015, respectively. The company spent $203.0 million for the acquisition of businesses, products and technology to augment existing product lines for the three months ended March 31, 2016. The current year reflects an increase of $130.2 million in restricted cash primarily related to payments to qualified settlement funds for certain product liability matters. The prior year reflects a decrease of $26.1 million in restricted cash primarily related to payments from qualified settlement funds for certain product liability matters.

For the three months ended March 31, 2016, net cash provided by financing activities was $102.6 million compared to the $49.1 million used for financing activities for the three months ended March 31, 2015. Total debt was $1.7 billion and $1.4 billion (including current maturities of $250.2 million) at March 31, 2016 and December 31, 2015, respectively. Total debt to total capitalization was 53.4% and 48.9% at March 31, 2016 and December 31, 2015, respectively, which reflects the redemption of the $250 million 2.875% notes due January 2016. Net cash used in financing activities also reflects $167.4 million used to repurchase 897,004 shares of common stock in the three months ended March 31, 2016 compared to $204.2 million to repurchase 1,184,553 shares of common stock in the prior year period. The company paid cash dividends of $0.24 per share and $0.22 per share for the three months ended March 31, 2016 and 2015, respectively.

The company maintains a $1.0 billion five-year committed syndicated bank credit facility that expires in November 2020. The credit facility supports the company’s commercial paper program and can be used for general corporate purposes. The facility includes pricing based on the company’s long-term credit ratings and includes a financial covenant that limits the amount of total debt to total capitalization. At March 31, 2016, the company was in compliance with this covenant. The fair value of commercial paper borrowings outstanding of $525.6 million at March 31, 2016 approximated the carrying value. There were no commercial paper borrowings outstanding at December 31, 2015.

Contingencies

In the ordinary course of business, the company is subject to various legal proceedings and claims, including product liability matters, environmental matters, employment disputes, contractual disputes on agreements and other commercial disputes. In addition, the company operates in an industry susceptible to significant patent legal claims. At any given time in the ordinary course of business, the company is involved as either a plaintiff or defendant in a number of patent infringement actions. See Note 7 of the notes to condensed consolidated financial statements.

Certain Regulatory Matters

In October 2014 and November 2014, the United States Food and Drug Administration (“FDA”) conducted directed inspections at two of the company’s facilities after which the FDA issued Form-483’s to the company in connection with these inspections. The company responded to the FDA and implemented corrective and preventive actions to address the FDA’s concerns. On July 14, 2015, the company received a Warning Letter from the Los Angeles District office of the FDA. The Warning Letter specifically cites quality systems and medical device reporting observations relating to non-conformances previously identified in the Form-483 notices for Glens Falls, New York and Tempe, Arizona and appropriate market clearance or approval of two models of our Recovery Cone Removal Systems used to retrieve certain implanted filters. The Warning Letter states that, until the company resolves the outstanding issues covered by the Warning Letter, no premarket submissions for Class III devices to which the non-conformances are reasonably related will be cleared or approved. The company presently has two such submissions before the FDA, which the company does not believe are material to its business. The company implemented corrective and preventive actions to address the concerns identified in the Warning Letter and on February 18, 2016, received market clearance for the two models of the Recovery Cone Removal Systems. The FDA conducted planned follow-up inspections at the Glens Falls and Tempe facilities during the first quarter of 2016 which resulted in the FDA issuing Form-483’s identifying observations regarding the quality systems at these facilities. The company has responded to the FDA and implemented corrective and preventive actions to address the observations.

However, the company cannot give any assurances that the FDA will be satisfied with its response to the Warning Letter or the Form-483’s or to the expected date of resolution of matters included in the Warning Letter or the Form-483’s. Although the company cannot give any assurances that the resolution of these matters will not have a material adverse effect on the company’s business, results of operations, financial conditions and/or liquidity, the company does not at this time believe this will have a material impact on its financial statements.

 

24


Table of Contents

Management’s Use of Non-GAAP Measures

Net sales “on a constant currency basis” is a non-GAAP measure. The company analyzes net sales on a constant currency basis to better measure the comparability of results between periods. Because changes in foreign currency exchange rates have a non-operating impact on net sales, the company believes that evaluating growth in net sales on a constant currency basis provides an additional and meaningful assessment of net sales to both management and the company’s investors. Constant currency growth rates are calculated by translating the prior year’s local currency sales by the current period’s exchange rate. Constant currency growth rates are not indicative of changes in corresponding cash flows. The limitation of these non-GAAP measures is that they do not reflect results on a standardized reporting basis. Non-GAAP measures are intended to supplement the applicable GAAP disclosures and should not be viewed as replacements of GAAP results.

Critical Accounting Policies

The preparation of financial statements requires the company’s management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical accounting policies are those that require application of management’s most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain and may change in subsequent periods. Such policies are summarized in the Management’s Discussion and Analysis of Financial Condition and Results of Operations section in Bard’s 2015 Annual Report on Form 10-K. There have been no significant changes to the company’s critical accounting policies since December 31, 2015.

Risks and Uncertainties; Cautionary Statement Regarding Forward-Looking Information

Certain statements contained herein or in other company documents and certain statements that may be made by management of the company orally may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “forecast,” “plan,” “believe” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. In particular, these include statements relating to product approvals, future performance of current and anticipated products, sales efforts, expenses, the outcome of contingencies, such as legal proceedings, and financial results. The company’s forward-looking statements speak only as of the date of this report or as of the date they are made, and the company undertakes no obligation to update its forward-looking statements.

In addition, there are substantial risks inherent in the medical device business. The company’s business involves the design, development, manufacture, packaging, distribution and sale of life-sustaining medical devices. These devices are often used on, or permanently or temporarily implanted in, patients in clinically demanding circumstances, such as operating rooms, emergency units, intensive care and critical care settings, among others. These circumstances, among other factors, can cause the products to become associated with adverse clinical events, including patient mortality and injury, and could lead to product liability claims (including lawsuits seeking class action status or seeking to establish multi-district litigation proceedings) and other litigation, product withdrawals, warning letters, recalls, field corrections or regulatory enforcement actions relating to one or more of the company’s products, any of which could have a material adverse effect on our business, results of operations, financial condition and/or liquidity. For further discussion of risks applicable to our business, see “Risk Factors” in Bard’s 2015 Annual Report on Form 10-K.

Because actual results are affected by these and other risks and uncertainties, the company cautions investors that actual results may differ materially from those expressed or implied. It is not possible to predict or identify all risks and uncertainties, but the most significant factors, in addition to those addressed above and those described under Item 1A. “Risk Factors” in Bard’s 2015 Annual Report on Form 10-K, that could adversely affect our business or cause the actual results to differ materially from those expressed or implied include, but are not limited to:

Effective management of and reaction to risks involved in our business, including:

 

    the ability to achieve manufacturing or administrative efficiencies, including gross margin benefits from our manufacturing processes and supply chain programs or in connection with the integration of acquired businesses;

 

    the effects of negative publicity and/or adverse media coverage concerning our products, which could result in product withdrawals, decreased product demand or adverse reputational effects and which could reduce market or governmental acceptance of our products;

 

25


Table of Contents
    the ability to identify appropriate companies, businesses and technologies as potential acquisition candidates, to consummate and successfully integrate such transactions or to obtain agreements for such transactions on favorable terms;

 

    the reduction in the number of procedures using our devices caused by customers’ cost-containment pressures or preferences for alternate therapies;

 

    the ability to implement, and realize the benefits of, our prior and planned investments in our business, including research and development expenditures focused on new market categories, and our plan to grow in emerging and/or faster-growing markets outside the United States and acquire growth platforms designed to change the mix of our portfolio towards faster, sustainable long-term growth;

 

    the uncertainty of whether research and development expenditures and sales force expansion will result in increased sales;

 

    the ability to reduce exposure and uncertainty related to tax audits, appeals and litigation;

 

    the risk that the company may not successfully implement its expansion of its Enterprise Resource Planning (“ERP”) information system and other productivity initiatives, including outsourcing certain information technology system functions;

 

    internal factors, such as retention of key employees, including sales force employees;

 

    the ability to achieve earnings forecasts, which are generated based, among other things, on projected volumes and sales of many product types, some of which are more profitable than others, and projected royalty revenue from Gore;

 

    changes in factors and assumptions or actual results that differ from our assumptions on stock valuation and employee stock option exercise patterns, which could cause compensation expense recorded in future periods to differ significantly from the compensation expense recorded in the current period;

 

    changes in factors and assumptions could cause pension cost recorded in future periods to differ from the pension cost recorded in the current period;

 

    the effect of market fluctuations on the value of assets in the company’s pension plans and the possibility that the company may need to make additional contributions to the plans as a result of any decline in the fair value of such assets;

 

    damage to a facility where our products are manufactured or from which they are distributed, which could render the company unable to manufacture or distribute one or more products and may require the company to reduce the output of products at the damaged facility thereby making it difficult to meet product shipping targets;

 

    the potential impairment of goodwill and intangible assets of the company resulting from insufficient cash flow generated from such assets specifically, or our business more broadly, so as to not allow the company to justify the carrying value of the assets;

 

    the ability to obtain appropriate levels of insurance on reasonable terms, or at all;

 

    the ability to recover for claims made to our insurance companies or under indemnification obligations to the company and that any amounts recovered under these arrangements may not be adequate to cover the company’s damages and/or costs; and

 

    the ability to realize the anticipated benefits of our restructuring activities and productivity initiatives to improve the company’s overall cost structure and improve efficiency.

Competitive factors, including:

 

    the trend of consolidation in the medical device industry as well as among our customers, resulting in potentially greater pricing pressures, competition and more significant and complex contracts than in the past, both in the United States and abroad;

 

    development of new products or technologies by competitors having superior performance compared to our current products or products under development which could negatively impact sales of our products or render one or more of our products obsolete;

 

    technological advances, patents and registrations obtained by competitors that would have the effect of excluding the company from new market segments or preventing the company from selling a product or including key features in the company’s products;

 

    attempts by competitors to gain market share through aggressive marketing programs; and

 

    reprocessing by third-party reprocessors of our products designed and labeled for single use.

 

26


Table of Contents

Difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, including:

 

    the ability to complete planned and/or ongoing clinical trials successfully, to develop and obtain regulatory approval for products on a timely basis and to launch products on a timely basis within cost estimates;

 

    lengthy and costly regulatory approval processes, which may result in lost market opportunities and/or delayed product launches;

 

    delays or denials of, or grants of low or reduced levels of reimbursement for, procedures using newly developed products;

 

    the suspension or revocation of authority to manufacture, market or distribute existing products;

 

    the imposition of additional or different regulatory requirements, such as those affecting manufacturing and labeling;

 

    performance, efficacy, quality or safety concerns for existing products, whether scientifically justified or not, that may lead to product discontinuations, product withdrawals, recalls, field corrections, regulatory enforcement actions, litigation or declining sales, including adverse events and/or concerns relating to the company’s vena cava filters, pelvic floor repair products and hernia repair products;

 

    FDA inspections resulting in Form-483 notices and/or warning letters identifying deficiencies in the company’s manufacturing practices and/or quality systems; warning letters identifying violations of FDA regulations that could result in product holds, recalls, restrictions on future clearances by the FDA and/or civil penalties; uncertainty regarding the expected date of resolution of any of these matters;

 

    the failure to obtain, limitations on the use of, or the loss of, patent and other intellectual property rights, and the failure of efforts to protect our intellectual property rights against infringement and legal challenges that can increase our costs;

 

    difficulties obtaining necessary components or raw materials used in the company’s products and/or price increases from the company’s suppliers of critical components or raw materials, including oil-based resins, or other interruptions of the supply chain; and

 

    customers that may limit the number of manufacturers or vendors from which they will purchase products, which can result in the company’s inability to sell products to or contract with large hospital systems, integrated delivery networks or group purchasing organizations.

Governmental action, including:

 

    the impact of continued healthcare cost containment;

 

    new laws and judicial decisions related to healthcare availability, healthcare reform, payment for healthcare products and services or the marketing and distribution of products, including legislative or administrative reforms to the United States Medicare and Medicaid systems or other United States or international reimbursement systems in a manner that would significantly reduce or eliminate reimbursements for procedures that use the company’s products;

 

    changes in the FDA and/or foreign regulatory approval processes that may delay or prevent the approval of new products and result in lost market opportunity;

 

    the impact of compliance and enforcement activities affecting the healthcare industry in general or the company in particular (including sales and marketing practices);

 

    changes in tax laws affecting our business, such as the potential for comprehensive tax reform in the United States and proposed legislation in multiple jurisdictions resulting from the adoption of Organisation for Economic Co-operation and Development (OECD) policies;

 

    changes in environmental laws or standards affecting our business including, among others, compliance with new labeling standards related to ozone-depleting substances;

 

    changes in laws that could require facility upgrades or process changes and could affect production rates and output; and

 

    compliance costs and potential penalties and remediation obligations in connection with environmental laws, including regulations regarding air emissions, waste water discharges and solid waste.

Legal disputes, including:

 

    disputes over legal proceedings, the outcome and the timing of final resolution of the suit filed by Gore against the company;

 

27


Table of Contents
    product liability claims, which may involve lawsuits seeking class action status or seeking to establish multi-district litigation proceedings, including the Hernia Product Claims, the Women’s Health Product Claims and the Filter Product Claims;

 

    claims asserting securities law violations;

 

    claims asserting, and/or subpoenas seeking information regarding, violations of law in connection with federal and/or state healthcare programs such as Medicare or Medicaid;

 

    derivative shareholder actions;

 

    claims and subpoenas asserting antitrust violations;

 

    environmental claims, including risks relating to accidental contamination or injury from the use of hazardous materials in the company’s manufacturing, sterilization and research activities and the potential for the company to be held liable for any resulting damages; and

 

    commercial disputes, including disputes over distribution agreements, license agreements, manufacturing/supply agreements, development/research agreements (including indemnification provisions), acquisition or sale agreements, and insurance policies.

General economic conditions, including:

 

    international and domestic business conditions;

 

    political or economic instability in foreign countries;

 

    interest rates;

 

    foreign currency exchange rates;

 

    changes in the rate of inflation; and

 

    instability of global financial markets and economies including Greece, Italy, Spain, Portugal and certain other countries or places where we operate or do business.

Other factors beyond our control, including catastrophes, both natural and man-made, earthquakes, floods, fires, explosions, strikes, work stoppages or slowdowns, acts of terrorism or war.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

The quantitative and qualitative disclosures about market risk are discussed in “Part II, Item 7A. Quantitative and Qualitative Disclosures About Market Risk” in Bard’s 2015 Annual Report on Form 10-K. There have been no material changes in the information reported since the year ended December 31, 2015.

Item 4. Controls and Procedures

The company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the company’s reports under the Securities Exchange Act of 1934 (the “Exchange Act”) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow for timely decisions regarding required disclosures. Any controls and procedures, no matter how well defined and operated, can provide only reasonable assurance of achieving the desired control objectives.

The company’s management, with the participation of the company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation of the company’s disclosure controls and procedures as of March 31, 2016. Based upon that evaluation, the company’s Chief Executive Officer and Chief Financial Officer have concluded that, as of March 31, 2016, the design and operation of the company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) were effective to accomplish their objectives at the reasonable assurance level. The scope of management’s assessment of the effectiveness of the design and operation of the company’s disclosure controls and procedures as of March 31, 2016 includes all of the company’s consolidated operations except for those disclosure controls and procedures of Liberator Medical, Inc. and Medicon, Inc. that are subsumed by internal control over financial reporting. The company acquired Liberator Medical, Inc. on January 21, 2016 and Medicon, Inc. on November 2, 2015. The operations related to these acquisitions represent 5.6% of the company’s consolidated net sales for the quarter ended March 31, 2016 and assets associated with the operations related to these acquisitions represent 3.6% of the company’s consolidated total assets as of March 31, 2016. There have been no changes in internal control over financial reporting for the quarter ended March 31, 2016 that have materially affected, or are reasonably likely to materially affect, the company’s internal control over financial reporting.

 

28


Table of Contents

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

In the ordinary course of business, the company is subject to various legal proceedings, investigations and claims, including, for example, environmental matters, employment disputes, disputes on agreements and other commercial disputes. In addition, the company operates in an industry susceptible to significant product liability and patent legal claims. At any given time, in the ordinary course of business, the company is involved as either a plaintiff or defendant in a number of patent infringement actions. If a third party’s patent infringement claim were to be determined against the company, the company might be required to make significant royalty or other payments or might be subject to an injunction or other limitation on its ability to manufacture or distribute one or more products. If a patent owned by or licensed to the company is found to be invalid or unenforceable, the company might be required to reduce the value of certain intangible assets on the company’s balance sheet and to record a corresponding charge, which could be significant in amount. Many of the company’s legal proceedings and claims could have a material adverse effect on its business, results of operations, financial condition and/or liquidity.

Product Liability Matters

Hernia Product Claims

As of March 31, 2016, approximately 40 federal and 60 state lawsuits involving individual claims by approximately 100 plaintiffs, as well as one putative class action in the United States, are currently pending against the company with respect to its Composix® Kugel® and certain other hernia repair implant products (collectively, the “Hernia Product Claims”). The company voluntarily recalled certain sizes and lots of the Composix® Kugel® products beginning in December 2005. In June 2007, the Composix® Kugel® lawsuits and, subsequently, other hernia repair product lawsuits, pending in federal courts nationwide were transferred into one Multidistrict Litigation (“MDL”) for coordinated pre-trial proceedings in the United States District Court for the District of Rhode Island. The MDL stopped accepting new cases in the second quarter of 2014. As of March 31, 2016, all but one of the putative class actions pending against the company were dismissed. The remaining putative class action pending against the company has not been certified and seeks: (i) medical monitoring; (ii) compensatory damages; (iii) punitive damages; (iv) a judicial finding of defect and causation; and/or (v) attorneys’ fees. In April 2014, a settlement was reached with respect to the three putative Canadian class actions within amounts previously recorded by the company. Approximately 40 of the state lawsuits, involving individual claims by approximately 40 plaintiffs, are pending in the Superior Court of the State of Rhode Island, with the remainder in various other jurisdictions. The Hernia Product Claims also generally seek damages for personal injury resulting from use of the products.

The company has resolved the majority of its historical Hernia Product Claims, including through agreements or agreements in principle with various plaintiffs’ law firms to settle their respective inventories of cases. Each agreement involving the settlement of a firm’s inventory of claims was subject to certain conditions, including requirements for participation in the proposed settlements by a certain minimum number of plaintiffs. In addition, the company continues to engage in discussions with other plaintiffs’ law firms regarding potential resolution of unsettled Hernia Product Claims, and intends to vigorously defend Hernia Product Claims that do not settle, including through litigation. The company expects additional trials of Hernia Product Claims to take place over the next 12 months. The company cannot give any assurances that the resolution of the Hernia Product Claims that have not settled, including asserted and unasserted claims and the putative class action lawsuit, will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

Women’s Health Product Claims

As of March 31, 2016, product liability lawsuits involving individual claims by approximately 12,875 plaintiffs are currently pending against the company in various federal and state jurisdictions alleging personal injuries associated with the use of certain of the company’s surgical continence products for women. With respect to a majority of these lawsuits, the company believes that two subsidiaries of Medtronic plc (as successor in interest to Covidien plc) (“Medtronic”), each a supplier of the company, have an obligation to defend and indemnify the company with respect to any product defect liability. As described below, in July 2015 the company reached an agreement with Medtronic regarding certain aspects of Medtronic’s indemnification obligation. In addition, five putative class actions in the United States and five putative class actions in Canada have been filed against the company, and a limited number of other claims have been filed or asserted in various non-U.S. jurisdictions. The foregoing lawsuits, unfiled or unknown claims, putative class actions and other claims, together with claims that have settled or are the subject of agreements or agreements in principle to settle, are referred to collectively as the “Women’s Health Product Claims”. The Women’s Health Product Claims generally seek damages for personal injury resulting from use of the products. The putative class actions, none of which has been certified, seek: (i) medical monitoring; (ii) compensatory damages; (iii) punitive damages; (iv) a judicial finding of defect and causation; and/or (v) attorneys’ fees. In April 2015, the Ontario Superior Court of Justice dismissed the plaintiffs’ motion for class certification

 

29


Table of Contents

in one Canadian putative class action. In March 2016, the company reached an agreement in principle to resolve all Canadian putative class actions, with the exception of a Quebec class action, within amounts previously recorded by the company. The company expects administration of those settlements to take place over the next several quarters.

In October 2010, the Women’s Health Product Claims involving solely Avaulta® products pending in federal courts nationwide were transferred into an MDL in the United States District Court for the Southern District of West Virginia (the “WV District Court”), the scope of which was later expanded to include lawsuits involving all women’s surgical continence products that are manufactured or distributed by the company. The first trial in a state court was completed in California in July 2012 and resulted in a judgment against the company of approximately $3.6 million. On appeal the decision was affirmed by the appellate court in November 2014. The company filed a petition for review to the California Supreme Court on December 24, 2014, which was denied on February 18, 2015. The judgment in this matter, including interest and costs, was paid on March 20, 2015 within the amounts previously recorded by the company. The first trial in the MDL commenced in July 2013 and resulted in a judgment against the company of approximately $2 million, which was upheld by the Fourth Circuit on January 14, 2016. The company does not believe that any verdicts entered to date are representative of potential outcomes of all Women’s Health Product Claims. On January 16, 2014 and July 31, 2014, the WV District Court ordered that the company prepare 200 and then an additional 300 individual cases, respectively, for trial (the “WHP Pre-Trial Orders”) (the timing for which is currently unknown). The WHP Pre-Trial Orders resulted in significant additional litigation-related defense costs beginning in the second quarter of 2014 and continuing through the second quarter of 2015. In February 2015, the WV District Court appointed a Special Master to assist with settlement resolution. In June 2015, the WV District Court issued an order staying the requirement to prepare a significant portion of the cases covered by the WHP Pre-Trial Orders, which stay could be modified at the court’s discretion. The WHP Pre-Trial Orders may result in material additional cost in future periods in defending Women’s Health Product Claims. The WV District Court may also order that the company prepare additional cases for trial, which could result in material additional costs in future periods.

As of March 31, 2016, the company reached agreements or agreements in principle with various plaintiffs’ law firms to settle their respective inventories of cases totaling approximately 6,845 Women’s Health Product Claims, including approximately: 560 during 2014 and 6,285 during 2015. The company believes that these Women’s Health Product Claims are not the subject of Medtronic’s indemnification obligation. These settlement agreements and agreements in principle include unfiled and previously unknown claims held by various plaintiffs’ law firms, which have not been included in the approximate number of lawsuits set forth in the first paragraph of this section. Each agreement is subject to certain conditions, including requirements for participation in the proposed settlements by a certain minimum number of plaintiffs. The company continues to engage in discussions with other plaintiffs’ law firms regarding potential resolution of unsettled Women’s Health Product Claims, which may include additional inventory settlements. Notwithstanding these settlement efforts, the company anticipates additional trials over the next 12 months. In addition, one or more possible consolidated trials may occur in the future.

In July 2015, as part of the agreement noted above, Medtronic agreed to take responsibility for pursuing settlement of certain of the Women’s Health Product Claims that relate to products distributed by the company under supply agreements with Medtronic and the company has paid Medtronic $121 million towards these potential settlements. The company also may, in its sole discretion, transfer responsibility for settlement of additional Women’s Health Product Claims to Medtronic on similar terms. The agreement does not resolve the dispute between the company and Medtronic with respect to Women’s Health Product Claims that do not settle, if any. As part of the agreement, Medtronic and the company agreed to dismiss without prejudice their previously filed litigation with respect to Medtronic’s obligation to defend and indemnify the company.

The approximate number of lawsuits set forth in the first paragraph of this section does not include approximately 660 generic complaints involving women’s health products where the company cannot, based on the allegations in the complaints, determine whether any of those cases involve the company’s women’s health products. In addition, the approximate number of lawsuits set forth in the first paragraph of this section does not include approximately 1,070 claims that have been threatened against the company but for which complaints have not yet been filed. In addition, the company has limited information regarding the nature and quantity of these and other unfiled or unknown claims. During the course of engaging in settlement discussions with plaintiffs’ law firms, the company has learned, and may in future periods learn, additional information regarding these and other unfiled or unknown claims, or other lawsuits, which could materially impact the company’s estimate of the number of claims or lawsuits against the company. While the company continues to engage in discussions with other plaintiffs’ law firms regarding potential resolution of unsettled Women’s Health Product Claims and intends to vigorously defend the Women’s Health Product Claims that do not settle, including through litigation, it cannot give any assurances that the resolution of these claims will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

Filter Product Claims

As of March 31, 2016, product liability lawsuits involving individual claims by approximately 375 plaintiffs are

 

30


Table of Contents

currently pending against the company in various federal and state jurisdictions alleging personal injuries associated with the use of the company’s vena cava filter products (all lawsuits, collectively, the “Filter Product Claims”). In August 2015, the Judicial Panel for Multi-District Litigation (“JPML”) ordered the creation of a Multi-District Litigation for all federal Filter Product Claims (the “IVC Filter MDL”) in the District of Arizona. There are approximately 345 lawsuits that have been, or shortly will be, transferred to the IVC Filter MDL. The remaining approximately 30 lawsuits are pending in various state courts across the country. In March 2016, a Canadian class action was filed against the company in Quebec. The first Filter Product Claim trial was completed in June 2012 and resulted in a judgment for the company. During the second quarter of 2013, the company finalized settlement agreements with respect to more than 30 Filter Product Claims and made payments with respect to such claims within the amounts previously recorded by the company. The approximate number of lawsuits set forth above do not include approximately 75 claims that have been threatened against the company but for which complaints have not yet been filed. In addition, the company has limited information regarding the nature and quantity of these and other unfiled or unknown claims. The company continues to receive claims and lawsuits and may in future periods learn additional information regarding other unfiled or unknown claims, or other lawsuits, which could materially impact the company’s estimate of the number of claims or lawsuits against the company. The company expects that additional trials of Filter Product Claims may take place over the next 12 months. While the company intends to vigorously defend Filter Product Claims that do not settle, including through litigation, it cannot give any assurances that the resolution of these claims will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

General

In most product liability litigations (like those described above), plaintiffs allege a wide variety of claims, ranging from allegations of serious injury caused by the products to efforts to obtain compensation notwithstanding the absence of any injury. In many of these cases, the company has not yet received and reviewed complete information regarding the plaintiffs and their medical conditions and, consequently, is unable to fully evaluate the claims. The company expects that it will receive and review additional information regarding any remaining unsettled product liability matters.

The company believes that some settlements and judgments, as well as some legal defense costs, relating to product liability matters are or may be covered in whole or in part under its product liability insurance policies with a limited number of insurance carriers, or, in some circumstances, indemnification obligations to the company from other parties. In certain circumstances, insurance carriers reserve their rights with respect to coverage, or contest or deny coverage, as has occurred with respect to certain claims. In addition, other parties may dispute their indemnification obligations to the company with respect to certain claims. When either of these occur, the company intends to vigorously contest disputes with respect to its insurance coverage or indemnification and to enforce its rights, and accordingly, will record expected recoveries with respect to amounts due under these policies or arrangements, when recovery is probable. Amounts recovered under the company’s product liability insurance policies or indemnification arrangements may be less than the stated coverage limits or less than otherwise expected and may not be adequate to cover damages and/or costs relating to claims. In addition, there is no guarantee that insurers or other parties will pay claims or that coverage or indemnity will be otherwise available.

The company’s insurance coverage with respect to the Hernia Product Claims has been exhausted. The company continues to evaluate its available insurance coverage as it relates to Women’s Health Product Claims and Filter Product Claims.

Other Legal Matters

Since early 2013, the company has received subpoenas or Civil Investigative Demands from a number of State Attorneys General seeking information related to the sales and marketing of certain of the company’s products that are the subject of the Hernia Product Claims and the Women’s Health Product Claims. The company is cooperating with these requests. Since it is not feasible to predict the outcome of these proceedings, the company cannot give any assurances that the resolution of these proceedings will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

In November 2015, the Department of Defense Inspector General issued an investigative subpoena to the company. The Department of Health and Human Services is also participating in this investigation. The subpoena seeks documents related to the company’s sales and marketing of certain filter products, drug coated balloon catheters, and peripheral arterial disease detection products. The company is cooperating with these requests. Since it is not feasible to predict the outcome of these proceedings, the company cannot give any assurances that the resolution of these proceedings will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

In June 2011, Gore filed suit in the U.S. District Court in Delaware alleging the company had infringed on several of Gore’s patents. Fact and expert discovery have been completed and in the fourth quarter of 2014, the parties both filed a number of motions, including motions for summary judgment. Oral arguments on the motions occurred on January 30, 2015. In December 2015, the Delaware District Court granted the company’s motion of no willful infringement, thereby eliminating Gore’s request for enhanced damages. The company’s summary judgment motion of laches (undue delay)

 

31


Table of Contents

remains pending, which could impact the total potential damages period. In the third quarter of 2015 the company filed a motion to dismiss a significant portion of Gore’s damages claim on the grounds that Gore lacks proper standing. The trial on this matter has been continued until later in 2016. The company intends to vigorously defend the allegations asserted by Gore. The company cannot give any assurances that an adverse resolution of this matter will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

The company is subject to numerous federal, state, local and foreign environmental protection laws governing, among other things, the generation, storage, use and transportation of hazardous materials and emissions or discharges into the ground, air or water. The company is or may become a party to proceedings brought under various federal laws including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), commonly known as Superfund, the Resource Conservation and Recovery Act, the Clean Water Act, the Clean Air Act and similar state or foreign laws. These proceedings seek to require the owners or operators of contaminated sites, transporters of hazardous materials to the sites and generators of hazardous materials disposed of at the sites to clean up the sites or to reimburse the government for cleanup costs. In most cases, there are other potentially responsible parties that may be liable for remediation costs. In these cases, the government alleges that the defendants are jointly and severally liable for the cleanup costs; however, these proceedings are frequently resolved so that the allocation of cleanup costs among the parties more closely reflects the relative contributions of the parties to the site contamination. The company’s potential liability varies greatly from site to site. For some sites, the potential liability is de minimis and for others the costs of cleanup have not yet been determined. Accruals for estimated losses from environmental remediation obligations generally are recognized no later than completion of the remedial feasibility study and are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are not discounted to their present value. Recoveries of environmental remediation costs from other parties are recorded as assets when their receipt is deemed probable. The company believes that the proceedings and claims described above will likely be resolved over an extended period of time. While it is not feasible to predict the outcome of these proceedings, based upon the company’s experience, current information and applicable law, the company does not expect these proceedings to have a material adverse effect on its financial condition and/or liquidity. However, one or more of the proceedings could be material to the company’s business and/or results of operations.

The company regularly monitors and evaluates the status of product liability and other legal matters, and may, from time-to-time, engage in settlement and mediation discussions taking into consideration developments in the matters and the risks and uncertainties surrounding litigation. These discussions could result in settlements of one or more of these claims at any time.

Item 1A. Risk Factors

There have been no material changes to the risk factors disclosed in Part I, Item 1A. in Bard’s 2015 Annual Report on Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table provides information with respect to the shares of the company’s common stock repurchased during the quarter ended March 31, 2016:

 

     Issuer Purchases of Equity Securities  

Period

   Total
Number

of Shares
Purchased(1)
     Average
Price
Paid
Per Share
     Total Number
of Shares
Purchased as
Part of Publicly
Announced
Programs(2)
     Maximum
Approximate
Dollar Value of
Shares

that May Yet
Be Purchased
Under Plans or
Programs(2)
 

January 1 – January 31, 2016

     1,009       $ 185.38         —         $ 396,431,194   

February 1 – February 29, 2016

     1,056,084         186.32         897,004         229,075,976   

March 1 –March 31, 2016

     3,136         193.30         —           229,075,976   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

     1,060,229       $ 186.34         897,004       $ 229,075,976   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) Includes 163,225 shares that the company repurchased during the three month period ended March 31, 2016 that were not part of the publicly announced share repurchase authorization. These shares were purchased from employees to satisfy tax withholding requirements on the vesting of restricted shares/units from equity-based awards.
(2) On June 10, 2015, the company announced that its Board of Directors had authorized the repurchase of up to $500 million of common stock of the company.

 

32


Table of Contents

Item 5. Other Information

The company’s policy governing transactions in its securities by the company’s directors, executive officers and other specified employees permits such persons to adopt trading plans pursuant to Rule 10b5-1 of the Exchange Act. From time-to-time, the company’s executive officers have established trading plans relating to the company’s common stock under Rule 10b5-1, and the company anticipates additional trading plans may be established in the future. The company currently discloses details regarding individual trading plans on its website.

Item 6. Exhibits

 

Number

  

Description

  12.1    Computation of Ratio of Earnings to Fixed Charges*
  31.1    Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer*
  31.2    Rule 13a-14(a) / 15d-14(a) Certification of Chief Financial Officer*
  32.1    Section 1350 Certification of Chief Executive Officer (furnished herewith)
  32.2    Section 1350 Certification of Chief Financial Officer (furnished herewith)
101.INS    XBRL Instance Document*
101.SCH    XBRL Taxonomy Extension Schema Document*
101.CAL    XBRL Taxonomy Extension Calculation Linkbase Document*
101.DEF    XBRL Taxonomy Extension Definition Linkbase Document*
101.LAB    XBRL Taxonomy Extension Label Linkbase Document*
101.PRE    XBRL Taxonomy Extension Presentation Linkbase Document*

 

* Filed herewith.

 

33


Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    C. R. BARD, INC.
        (Registrant)
Date: April 28, 2016      
     

/s/    CHRISTOPHER S. HOLLAND        

     

Christopher S. Holland

Senior Vice President and

Chief Financial Officer

     

/s/    FRANK LUPISELLA JR.        

     

Frank Lupisella Jr.

Vice President and Controller

 

34


Table of Contents

INDEX TO EXHIBITS

 

Number

  

Description

  12.1    Computation of Ratio of Earnings to Fixed Charges
  31.1    Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer
  31.2    Rule 13a-14(a) / 15d-14(a) Certification of Chief Financial Officer
  32.1    Section 1350 Certification of Chief Executive Officer (furnished herewith)
  32.2    Section 1350 Certification of Chief Financial Officer (furnished herewith)
101.INS    XBRL Instance Document
101.SCH    XBRL Taxonomy Extension Schema Document
101.CAL    XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF    XBRL Taxonomy Extension Definition Linkbase Document
101.LAB    XBRL Taxonomy Extension Label Linkbase Document
101.PRE    XBRL Taxonomy Extension Presentation Linkbase Document

 

35

EX-12.1 2 d162490dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

C. R. BARD, INC. AND SUBSIDIARIES

Exhibit 12.1 - Computation of Ratio of Earnings to Fixed Charges

 

     Three Months
Ended
March 31,
2016
     Years Ended December 31,  
        2015      2014      2013     2012     2011  
(dollars in millions)                                        
Earnings from operations before taxes    $ 142.9       $ 349.4       $ 445.8       $ 1,213.4      $ 732.4      $ 510.8   

Add (Deduct):

               

Fixed charges

     13.3         52.8         52.9         52.4        46.1        42.7   

Undistributed earnings of equity investments

     —           0.4         0.3         (1.0     (9.6     (3.8
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Earnings available for fixed charges

   $ 156.2       $ 402.6       $ 499.0       $ 1,264.8      $ 768.9      $ 549.7   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Fixed charges:

               

Interest, including amounts capitalized(1)

   $ 11.3       $ 44.9       $ 44.8       $ 45.0      $ 39.6      $ 36.4   

Proportion of rent expense deemed to represent interest factor

     2.0         7.9         8.1         7.4        6.5        6.3   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Fixed charges

   $ 13.3       $ 52.8       $ 52.9       $ 52.4      $ 46.1      $ 42.7   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     11.74         7.63         9.43         24.14        16.68        12.87   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

 

(1) Interest related to unrecognized tax benefits is included as income tax expense and not included in fixed charges.
EX-31.1 3 d162490dex311.htm EX-31.1 EX-31.1

EXHIBIT 31.1

Certification of Chief Executive Officer

I, Timothy M. Ring, certify that:

 

  1. I have reviewed this quarterly report on Form 10-Q of C. R. Bard, Inc.;

 

  2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

  3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

  4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

  5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: April 28, 2016

/s/ Timothy M. Ring

Timothy M. Ring
Chief Executive Officer
EX-31.2 4 d162490dex312.htm EX-31.2 EX-31.2

EXHIBIT 31.2

Certification of Chief Financial Officer

I, Christopher S. Holland, certify that:

 

  1. I have reviewed this quarterly report on Form 10-Q of C. R. Bard, Inc.;

 

  2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

  3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

  4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

  5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: April 28, 2016

/s/ Christopher S. Holland

Christopher S. Holland
Senior Vice President and Chief Financial Officer
EX-32.1 5 d162490dex321.htm EX-32.1 EX-32.1

EXHIBIT 32.1

SECTION 1350 CERTIFICATIONS

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of C. R. Bard, Inc. on Form 10-Q for the period ended March 31, 2016, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Timothy M. Ring, Chairman and Chief Executive Officer of C. R. Bard, Inc., certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

  1. the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

  2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of C. R. Bard, Inc.

 

/s/ Timothy M. Ring

Name: Timothy M. Ring
Date: April 28, 2016
EX-32.2 6 d162490dex322.htm EX-32.2 EX-32.2

EXHIBIT 32.2

SECTION 1350 CERTIFICATIONS

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of C. R. Bard, Inc. on Form 10-Q for the period ended March 31, 2016, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Christopher S. Holland, Senior Vice President and Chief Financial Officer of C. R. Bard, Inc., certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

  1. the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

  2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of C. R. Bard, Inc.

 

/s/ Christopher S. Holland

Name: Christopher S. Holland
Date: April 28, 2016
EX-101.INS 7 bcr-20160331.xml XBRL INSTANCE DOCUMENT 300 1.00 16600000 22500000 -2900000 36100000 0.175 250000000 0.02875 -140500000 1004200000 -84700000 1000000 -56800000 73318689 0.25 600000000 73318689 5000000 0 73318689 1 7900000 1393600000 2210000000 140300000 357100000 1144500000 163900000 623000000 1167100000 18300000 10300000 3100000 23300000 1015000000 -213900000 19700000 -554500000 525600000 1459900000 5176900000 96800000 8300000 259800000 473900000 2074900000 104200000 210600000 1264200000 149800000 97300000 128000000 728200000 383200000 765000000 30100000 5176900000 28800000 458100000 831000000 223700000 439700000 26102 4602734 164200000 163600000 1000000000 -103400000 -17900000 -92600000 26500000 3000000 22500000 4000000 100000 0 1700000 1200000 22800000 1227000000 70900000 1700000 -2700000 -22500000 40 345 40 30 60 49600000 4700000 4 429900000 54100000 205400000 250000000 525600000 200 -88800000 960100000 -86600000 900000 -3100000 0.25 600000000 73697371 5000000 0 73697371 1 23000000 1261800000 2148400000 187900000 335400000 1144100000 141300000 730000000 1174300000 18400000 7500000 2800000 22300000 936700000 -208000000 -503500000 250200000 1455300000 4939200000 70700000 252300000 472400000 2093200000 79600000 80400000 1140600000 137600000 123900000 744300000 274800000 950500000 23800000 4939200000 21800000 445100000 807800000 192100000 413700000 132800000 132100000 -105100000 -8700000 -94200000 14200000 6900000 8000000 6200000 0 200000 3800000 2900000 11200000 1449800000 66000000 3800000 -3300000 -7800000 516500000 50300000 191600000 0 1.00 31600000 11900000 26000000 53000000 21000000 4400000 1 5 5 In March 2016, the company reached an agreement in principle to resolve all Canadian putative class actions, with the exception of a Quebec class action, within amounts previously recorded by the company. 40 However, one or more of the proceedings could be material to the company's business and/or results of operations. These discussions could result in settlements of one or more of these claims at any time. In addition, one or more possible consolidated trials may occur in the future. 375 1 P12M 75 100 P12M 12875 6845 660 P12M 1070 2 181100000 121800000 P8Y P12Y 63700000 361000000 569700000 121000000 3 1 1 3600000 2000000 560 6285 1400000 74400000 0.243 114000000 1.85 75800000 1.82 137700000 -26100000 -53500000 88100000 29200000 0 100000 -16300000 0 20600000 184600000 9000000 819700000 -8600000 -500000 16800000 0 17100000 16000000 -53700000 -52200000 -51700000 139800000 -1300000 200000 204200000 11300000 -17500000 46100000 -49100000 44800000 -104100000 10300000 2100000 -1300000 635100000 26500000 44100000 -1900000 153000000 -1000000 23000000 17600000 23000000 -8300000 235700000 -500000 -3300000 311200000 60600000 3300000 5200000 4000000 5300000 P2Y9M11D 0.0086 P3Y 0.0051 0 -1000000 0 1900000 0 -2900000 -1900000 200000 500000 1500000 100000 -1300000 1900000 1400000 -53700000 0 -53700000 -53700000 0 0 0 574100000 106400000 41000000 98200000 224600000 21700000 135900000 205600000 231900000 -7900000 0 9000000 1100000 100000 800000 1900000 1200000 7800000 -2900000 7600000 5000000 7500000 30 238000000 259000000 325000000 337000000 2880 10-Q BCR <div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The location and fair value of derivative instruments that are designated as hedging instruments recognized in the condensed consolidated balance sheets are as follows:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0"> <tr> <td width="59%"></td> <td valign="bottom" width="6%"></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" rowspan="2" align="center"><b>Balance Sheet</b><br /> <b>Location</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Fair Value<br /> of&#xA0;Derivatives</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom" nowrap="nowrap"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: #000000 1pt solid; MARGIN-TOP: 0pt; WIDTH: 162pt"> <b>Derivatives Designated as Hedging Instruments</b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>March&#xA0;31,</b><br /> <b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>December&#xA0;31,<br /> 2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Other&#xA0;current&#xA0;assets</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Option currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Other current assets</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3.8</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Interest rate swap contract</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Other&#xA0;current assets</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Other assets</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">3.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">6.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Accrued&#xA0;expenses</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">4.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">6.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Interest rate swap contract</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Accrued&#xA0;expenses</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">22.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">8.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">26.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">14.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> <div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Net sales based on the location of external customers by geographic region are:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="82%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Three&#xA0;Months&#xA0;Ended<br /> March&#xA0;31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> United States</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">625.4</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">574.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Europe</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">104.3</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">106.4</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Japan</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">34.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">41.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">109.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">98.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">873.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">819.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> 0000009892 2016-03-31 1200000 Large Accelerated Filer <div> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>6. Inventories</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Inventories consisted of:</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> &#xA0;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="76%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>March&#xA0;31,<br /> 2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>December&#xA0;31,<br /> 2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Finished goods</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">259.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">252.3</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Work in process</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">30.1</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">23.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Raw materials</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">149.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">137.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">439.7</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">413.7</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> <div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>8. Share-Based Compensation Plans</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company may grant a variety of share-based payments under the 2012 Long Term Incentive Plan of C.&#xA0;R.&#xA0;Bard, Inc., as amended and restated (the &#x201C;LTIP&#x201D;) and the 2005 Directors&#x2019; Stock Award Plan of C.&#xA0;R.&#xA0;Bard, Inc., as amended and restated (the &#x201C;Directors&#x2019; Plan&#x201D;) to certain directors, officers and employees. The total number of remaining shares at March 31, 2016 that may be issued under the LTIP was 4,602,734 and under the Directors&#x2019; Plan was 26,102. Awards under the LTIP may be in the form of stock options, stock appreciation rights, limited stock appreciation rights, restricted stock, unrestricted stock and other stock-based awards. Awards under the Directors&#x2019; Plan may be in the form of stock awards, stock options or stock appreciation rights. The company also has two employee stock purchase programs.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> For the quarters ended March 31, 2016 and 2015, amounts charged against income for share-based payment arrangements were $26.2 million and $23.0 million, respectively.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In the first quarter of each of 2016 and 2015, the company granted performance restricted stock units to certain officers. These units have requisite service periods of three years and have no dividend rights. The actual payout of these units varies based on the company&#x2019;s performance over the three-year period based on pre-established targets over the period and a market condition modifier based on total shareholder return (&#x201C;TSR&#x201D;) compared to an industry peer group. The actual payout under these awards may exceed an officer&#x2019;s target payout; however, compensation cost initially recognized assumes that the target payout level will be achieved and may be adjusted for subsequent changes in the expected outcome of the performance-related condition. The fair values of these units are based on the market price of the company&#x2019;s stock on the date of the grant and use a Monte Carlo simulation model for the TSR component. The fair values of the TSR components of the 2016 and 2015 grants were estimated based on the following assumptions: risk-free interest rate of 0.83% and 0.86%, respectively; dividend yield of 0.52% and 0.51%, respectively; and expected life of 2.89 and 2.78 years, respectively.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> As of March 31, 2016, there were $128.0 million of unrecognized compensation expenses related to share-based payment arrangements. These costs are expected to be recognized over a weighted-average period of approximately three years. The company has sufficient shares to satisfy expected share-based payment arrangements in 2016.</p> </div> <div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>11. Segment Information</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The company&#x2019;s management considers its business to be a single segment entity &#x2013; the manufacture and sale of medical devices. The company&#x2019;s products generally share similar distribution channels and customers. The company designs, develops, manufactures, packages, distributes and sells medical, surgical, diagnostic and patient care devices. The company sells a broad range of products to hospitals, individual healthcare professionals, extended care health facilities and alternate site facilities on a global basis. In general, the company&#x2019;s products are intended to be used once and then discarded or either temporarily or permanently implanted. The company&#x2019;s chief operating decision makers evaluate their various global product portfolios on a net sales basis and generally evaluate profitability and associated investment on an enterprise-wide basis due to shared geographic infrastructures.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Net sales based on the location of external customers by geographic region are:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="82%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Three&#xA0;Months&#xA0;Ended<br /> March&#xA0;31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> United States</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">625.4</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">574.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Europe</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">104.3</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">106.4</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Japan</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">34.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">41.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">109.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">98.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">873.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">819.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Total net sales by product group category are:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="82%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Three&#xA0;Months&#xA0;Ended<br /> March&#xA0;31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Vascular</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">239.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">231.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Urology</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">216.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">205.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Oncology</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">241.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">224.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Surgical Specialties</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">151.4</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">135.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">24.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">21.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">873.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">819.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> <div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>10. Shareholders&#x2019; Investment</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The company repurchased approximately 0.9 million shares of common stock for $167.4 million in the three months ended March 31, 2016 under its previously announced share repurchase authorization.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Other Comprehensive Income (Loss)</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The changes in accumulated other comprehensive income (loss) by component are as follows:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr> <td width="65%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Derivative</b><br /> <b>Instruments</b><br /> <b>Designated&#xA0;as<br /> Cash&#xA0;Flow&#xA0;Hedges</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Foreign&#xA0;Currency</b><br /> <b>Translation<br /> Adjustments</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Benefit<br /> Plans</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Total</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at December 31, 2014</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(3.1</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(86.6</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(88.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss) before reclassifications</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(53.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(53.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Tax (provision) benefit <sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(a)</sup></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.3</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.3</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss) before reclassifications, net of taxes</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(53.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(52.2</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassifications</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(1.9</td> <td valign="bottom" nowrap="nowrap">)<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(b)</sup>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.9</td> <td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(c)</sup>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Tax provision (benefit)</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(1.0</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(0.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassifications, net of tax</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(1.4</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss)</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(53.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(51.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at March 31, 2015</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(56.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(84.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(140.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at December 31, 2015</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(8.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(94.2</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(105.1</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(208.0</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss) before reclassifications</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(15.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(14.3</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Tax (provision) benefit <sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(a)</sup></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">5.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">5.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss) before reclassifications, net of taxes</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(10.4</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(8.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassifications</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.6</td> <td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(b)</sup>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.6</td> <td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(c)</sup>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Tax provision (benefit)</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(0.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(0.3</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassifications, net of tax</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss)</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(9.2</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(5.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at March 31, 2016</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(17.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(92.6</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(103.4</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(213.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="MARGIN-BOTTOM: 2pt; BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt; WIDTH: 10%"> &#xA0;</p> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="3%" align="left">(a)</td> <td valign="top" align="left">Income taxes are not provided for foreign currency translation adjustment.</td> </tr> </table> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="3%" align="left">(b)</td> <td valign="top" align="left">See Note 5 of the notes to condensed consolidated financial statements.</td> </tr> </table> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="3%" align="left">(c)</td> <td valign="top" align="left">These components are included in the computation of net periodic pension cost. See Note 9 of the notes to condensed consolidated financial statements.</td> </tr> </table> </div> --12-31 P3Y Q1 <div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>5. Financial Instruments</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> For further discussion regarding the company&#x2019;s use of derivative instruments, see Note&#xA0;1 of the notes to consolidated financial statements in Bard&#x2019;s 2015 Annual Report on Form 10-K.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 18px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <i>Foreign Exchange Derivative Instruments</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The company enters into readily marketable forward and option contracts with financial institutions to help reduce its exposure to foreign currency exchange rate fluctuations. These contracts limit volatility because gains and losses associated with foreign currency exchange rate movements are generally offset by movements in the underlying hedged item. The notional value of the company&#x2019;s forward currency and option currency contracts was $205.4 million and $191.6 million at March 31, 2016 and December 31, 2015, respectively.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Interest Rate Derivative Instruments</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> In January 2016, the company&#x2019;s outstanding interest rate swap contract was terminated concurrent with the maturity of the underlying 2.875% fixed-rate notes. The notional value of the company&#x2019;s interest rate swap contract was $250 million and effectively converted these fixed-rate notes to a floating-rate instrument.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The company maintains a forward starting interest rate swap contract which is intended to manage its exposure to interest rate volatility in anticipation of issuing fixed-rate debt. The company&#x2019;s forward swap contract has a notional value of $250 million and a mandatory termination date of May 2016.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The location and fair value of derivative instruments that are designated as hedging instruments recognized in the condensed consolidated balance sheets are as follows:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0"> <tr> <td width="59%"></td> <td valign="bottom" width="6%"></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" rowspan="2" align="center"><b>Balance Sheet</b><br /> <b>Location</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Fair Value<br /> of&#xA0;Derivatives</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom" nowrap="nowrap"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: #000000 1pt solid; MARGIN-TOP: 0pt; WIDTH: 162pt"> <b>Derivatives Designated as Hedging Instruments</b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>March&#xA0;31,</b><br /> <b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>December&#xA0;31,<br /> 2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Other&#xA0;current&#xA0;assets</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Option currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Other current assets</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3.8</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Interest rate swap contract</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Other&#xA0;current assets</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Other assets</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">3.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">6.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Accrued&#xA0;expenses</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">4.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">6.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Interest rate swap contract</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">Accrued&#xA0;expenses</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">22.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">8.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">26.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">14.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The location and amounts of gains and losses on derivative instruments designated as cash flow hedges and the impact on shareholders&#x2019; investment are as follows:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr> <td width="51%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Gain/(Loss)<br /> Recognized&#xA0;in&#xA0;Other<br /> Comprehensive<br /> Income (Loss)</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" rowspan="3" align="center"><b>Location&#xA0;of</b><br /> <b>Gain/(Loss)&#xA0;Reclassified</b><br /> <b>from&#xA0;Accumulated</b><br /> <b>Other&#xA0;Comprehensive&#xA0;Loss&#xA0; into<br /> Income</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Gain/(Loss)&#xA0;Reclassified<br /> from&#xA0;Accumulated<br /> Other&#xA0;Comprehensive&#xA0;Loss<br /> into Income</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Three&#xA0;Months&#xA0;Ended<br /> March 31,</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Three Months Ended<br /> March 31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2015</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(0.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="center"> Cost&#xA0;of&#xA0;goods&#xA0;sold</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.4</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.8</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Option currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(1.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">9.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="center">Cost of goods sold</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.8</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Interest rate swap contract</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(14.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(7.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="center">Interest expense</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(17.0</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(0.6</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Financial Instruments Measured at Fair Value on a Recurring Basis</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Fair value is defined as the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that is determined using assumptions that market participants would use in pricing an asset or liability. The fair value guidance establishes a three-level hierarchy which maximizes the use of observable inputs and minimizes the use of unobservable inputs used in measuring fair value. The levels within the hierarchy range from Level 1 having observable inputs to Level 3 having unobservable inputs.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> The following table summarizes certain financial instrument assets and (liabilities) measured at fair value on a recurring basis:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="76%"></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>March&#xA0;31,<br /> 2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>December&#xA0;31,<br /> 2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(3.3</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Option currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3.8</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Interest rate swap contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(22.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(7.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The fair values were measured using significant other observable inputs and valued by reference to similar financial instruments, adjusted for restrictions and other terms specific to each instrument. These financial instruments are categorized as Level 2 under the fair value hierarchy.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The fair value of the liability for contingent consideration related to acquisitions was $22.8 million and $11.2 million at March&#xA0;31, 2016 and December 31, 2015, respectively. The increase in the fair value of the liability for contingent consideration was primarily related to the addition of contingent consideration due to the acquisition of Embo and was partly offset by a reduction in the probability of the achievement of other unrelated revenue-based and manufacturing-related milestones. See Note 2 of the notes to condensed consolidated financial statements. The fair value was measured using significant unobservable inputs and is categorized as Level 3 under the fair value hierarchy.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Financial Instruments Not Measured at Fair Value</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The company maintains a $1 billion five-year committed syndicated bank credit facility that expires in November 2020. The credit facility supports the company&#x2019;s commercial paper program and can be used for general corporate purposes. The facility includes pricing based on the company&#x2019;s long-term credit ratings and includes a financial covenant that limits the amount of total debt to total capitalization. At March 31, 2016 the company was in compliance with this covenant. The fair value of commercial paper borrowings outstanding of $525.6 million at March 31, 2016 approximated the carrying value. There were no commercial paper borrowings outstanding at December 31, 2015.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The estimated fair value of long-term debt (including current maturities and the effect of the related interest rate swap contract for the prior year period) was approximately $1,227.0&#xA0;million and $1,449.8 million at March 31, 2016 and December&#xA0;31, 2015, respectively. The decrease in fair value is primarily due to the company&#x2019;s redemption of its $250 million 2.875% notes due January 2016. The fair value was estimated using dealer quotes for similarly-rated debt instruments over the remaining contractual term of the company&#x2019;s obligation and is categorized as Level 2 under the fair value hierarchy.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The fair value of the non-contingent future payments related to the Medicon, Inc. acquisition of $70.9 million and $66.0 million at March 31, 2016 and December 31, 2015, respectively, approximated the carrying value. At March 31, 2016 and December 31, 2015, future payments of $54.1 million and $50.3 million, respectively, were recorded to other long-term liabilities. These payments will be paid in Japanese Yen and are subject to exchange rate fluctuations. The fair value was estimated by discounting the future payments based upon the timing of such payments and is categorized as Level 2 under the fair value hierarchy.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Concentration Risk</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Accounts receivable balances include sales to government-supported healthcare systems outside the United States. The company monitors economic conditions and evaluates accounts receivable in certain countries for potential collection risks. Economic conditions and other factors in certain countries, particularly in Spain, Italy, Greece and Portugal, have resulted in, and may continue to result in, an increase in the average length of time that it takes to collect these accounts receivable and may require the company to re-evaluate the collectability of these receivables in future periods. At March 31, 2016, the company&#x2019;s accounts receivable, net of allowances, from the national healthcare systems and private sector customers in these four countries was $49.6 million, of which $4.7 million was greater than 365 days past due.</p> </div> 74000000 0.187 <div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>2. Acquisitions</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On January 21, 2016, the company acquired all of the outstanding shares of Liberator Medical Holdings, Inc. (&#x201C;Liberator&#x201D;), a publicly-held direct-to-consumer distributor of urological catheters, ostomy supplies, mastectomy fashions and diabetic medical supplies for a purchase price of $181.1 million. This acquisition enhances the company&#x2019;s position in the home healthcare market in the United States. The acquisition was accounted for as a business combination, and the results of operations have been included in the company&#x2019;s results since the acquisition date. The fair value of the assets acquired and the liabilities assumed results in the recognition of: customer relationships of $53.0 million; other intangibles of $26.0 million, primarily consisting of a trade name and non-compete agreements; deferred tax liabilities of $31.6 million, primarily associated with intangible assets; and other net assets of $11.9 million. The excess of the purchase price over fair value of the acquired net assets was recorded as goodwill of $121.8 million. The goodwill recognized includes the value of expected market expansion in the home healthcare market through Liberator&#x2019;s direct-to-consumer capabilities that provide additional opportunity for market penetration. Additionally, synergies are expected to result from the alignment of sales call points within the company&#x2019;s sales organization. The goodwill is not deductible for tax purposes. Customer relationships and other intangible assets are being amortized over their weighted average estimated useful lives of approximately 12 years and 8 years, respectively. The company has not yet finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date become available.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On December&#xA0;3, 2015, the company, through a wholly-owned foreign subsidiary, acquired all of the outstanding shares of Embo Medical Limited (&#x201C;Embo&#x201D;), a privately-held company headquartered in Galway, Ireland, specializing in the development of peripheral embolization devices. The total purchase consideration included an up-front cash payment of $21.0 million and the fair value of future additional milestone payments of up to $22.5 million that are contingent upon specific regulatory and revenue-related milestones being achieved, which had a fair value of $16.6 million as of the acquisition date. The acquisition was recognized in the first quarter of 2016 for this foreign subsidiary. The fair value of the assets acquired and the liabilities assumed resulted in the recognition of: an acquired in-process research and development asset (&#x201C;IPR&amp;D&#x201D;) of $36.1 million related to the development of the Caterpillar<sup style="font-size:85%; vertical-align:top">TM</sup> vascular plug device; goodwill of $4.4 million; and other net liabilities of $2.9 million. The goodwill is not deductible for tax purposes. The fair value of the IPR&amp;D asset was determined based upon the present value of expected future cash flows adjusted for the probability of technological and regulatory success, utilizing a risk-adjusted discount rate of 17.5%. The fair value of the future contingent consideration was determined utilizing a probability weighted cash flow estimate adjusted for the expected timing of the payment. The company has not yet finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date become available.</p> </div> <div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>3. Earnings per Common Share</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Earnings per share (&#x201C;EPS&#x201D;) is computed under the two-class method using the following common share information:</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> &#xA0;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="82%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"> <b>Three&#xA0;Months&#xA0;Ended</b><br /> <b>March 31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">(dollars and shares in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> EPS Numerator:</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Net income</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">116.2</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">139.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Less: Income allocated to participating securities</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.1</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Net income available to common shareholders</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">115.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">137.7</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> EPS Denominator:</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Weighted average common shares outstanding</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">74.0</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">74.4</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Dilutive common share equivalents from share-based compensation plans</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.2</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.4</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Weighted average common and common equivalent shares outstanding, assuming dilution</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">75.2</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">75.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> 900000 67200000 <div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Total net sales by product group category are:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="82%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Three&#xA0;Months&#xA0;Ended<br /> March&#xA0;31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Vascular</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">239.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">231.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Urology</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">216.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">205.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Oncology</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">241.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">224.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Surgical Specialties</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">151.4</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">135.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">24.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">21.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">873.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">819.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> false <div> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Earnings per share (&#x201C;EPS&#x201D;) is computed under the two-class method using the following common share information:</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> &#xA0;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="82%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"> <b>Three&#xA0;Months&#xA0;Ended</b><br /> <b>March 31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">(dollars and shares in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> EPS Numerator:</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Net income</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">116.2</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">139.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Less: Income allocated to participating securities</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.1</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Net income available to common shareholders</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">115.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">137.7</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> EPS Denominator:</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Weighted average common shares outstanding</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">74.0</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">74.4</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Dilutive common share equivalents from share-based compensation plans</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.2</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.4</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Weighted average common and common equivalent shares outstanding, assuming dilution</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">75.2</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">75.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> <div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The location and amounts of gains and losses on derivative instruments designated as cash flow hedges and the impact on shareholders&#x2019; investment are as follows:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr> <td width="51%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Gain/(Loss)<br /> Recognized&#xA0;in&#xA0;Other<br /> Comprehensive<br /> Income (Loss)</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" rowspan="3" align="center"><b>Location&#xA0;of</b><br /> <b>Gain/(Loss)&#xA0;Reclassified</b><br /> <b>from&#xA0;Accumulated</b><br /> <b>Other&#xA0;Comprehensive&#xA0;Loss&#xA0; into<br /> Income</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Gain/(Loss)&#xA0;Reclassified<br /> from&#xA0;Accumulated<br /> Other&#xA0;Comprehensive&#xA0;Loss<br /> into Income</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Three&#xA0;Months&#xA0;Ended<br /> March 31,</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>Three Months Ended<br /> March 31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2015</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(0.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="center"> Cost&#xA0;of&#xA0;goods&#xA0;sold</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.4</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.8</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Option currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(1.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">9.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="center">Cost of goods sold</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.8</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Interest rate swap contract</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(14.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(7.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="center">Interest expense</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(17.0</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(0.6</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> <div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>1. Basis of Presentation</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The accompanying unaudited condensed consolidated financial statements of C. R. Bard, Inc. and its subsidiaries (the &#x201C;company&#x201D; or &#x201C;Bard&#x201D;) should be read in conjunction with the audited consolidated financial statements and notes thereto included in Bard&#x2019;s 2015 Annual Report on Form 10-K. These financial statements have been prepared on a basis that is substantially consistent with the accounting principles applied in the financial statements in Bard&#x2019;s 2015 Annual Report on Form 10-K. The preparation of these financial statements requires the company to make estimates and judgments that affect reported amounts of assets, liabilities, revenues and expenses and the related disclosure of contingent assets and liabilities at the date of the financial statements. These financial statements include all normal and recurring adjustments necessary for a fair presentation. The accounts of most foreign subsidiaries are consolidated as of and for the quarters ended February 29, 2016 and February 28, 2015 and as of November 30, 2015. No events occurred related to these foreign subsidiaries during the months of March 2016, March 2015 or December&#xA0;2015 that materially affected the financial position or results of operations of the company. The results for the interim periods presented are not necessarily indicative of the results expected for the year.</p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <i>Recently Adopted Accounting Pronouncement</i></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In April 2015, the Financial Accounting Standards Board (&#x201C;FASB&#x201D;) issued an accounting standard update that requires debt issuance costs to be presented as a direct deduction from the carrying amount of the related debt rather than as an asset. In 2016, the company retrospectively adopted this update, as required, and the amounts reclassified from other assets to long-term debt on the consolidated balance sheets were not material.</p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <i>New Accounting Pronouncements Not Yet Adopted</i></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In March 2016, the FASB issued an accounting standard update that includes multiple provisions intended to simplify various aspects of the accounting for share-based payments, including the income tax items and the classification of these items on the statement of cash flows. This update will be effective as of the beginning of Bard&#x2019;s 2017 fiscal year. The company is assessing this update and has not yet determined the impact to the consolidated financial statements.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In February 2016, the FASB issued a new accounting standard to use in the accounting for leases. The new standard will require, among other items, lessees to recognize most leases on the balance sheet by recording a right-of-use asset and a lease liability. This standard will be effective as of the beginning of Bard&#x2019;s 2019 fiscal year. The company is assessing the new standard and has not yet determined the impact to the consolidated financial statements.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In November 2015, the FASB issued an accounting standard update that simplifies the balance sheet classification of deferred taxes. This update requires all deferred tax assets and liabilities to be reported as non-current in the balance sheet. This update will be effective as of the beginning of Bard&#x2019;s 2017 fiscal year. Other than the reclassification to non-current of the short-term deferred tax assets and liabilities recognized in the consolidated balance sheets, this update is not expected to have a material impact on the company&#x2019;s consolidated financial statements.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In May 2014, the FASB issued a new accounting standard that provides for a comprehensive model to use in the accounting for revenue arising from contracts with customers. Under this standard, revenue will be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The company continues to assess the new standard, as well as updates to the standard that have been proposed by the FASB, and has not yet determined the impact to the consolidated financial statements. The company will adopt the new standard beginning with Bard&#x2019;s 2018 fiscal year.</p> </div> BARD C R INC /NJ/ <div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>4. Income Taxes</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company&#x2019;s effective tax rate for the quarter ended March 31, 2016 was 18.7% compared to 24.3% for the same period in the prior year. The effective tax rate for the quarter ended March 31, 2016 reflected the discrete tax effects of litigation charges related to product liability claims, which were incurred in a high tax jurisdiction. See Note 7 of the notes to condensed consolidated financial statements.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> At March 31, 2016, the total amount of liability for unrecognized tax benefits related to federal, state and foreign taxes was $23.3 million (of which $19.7 million would impact the effective tax rate, if recognized) plus $3.1 million of accrued interest. At December 31, 2015, the liability for unrecognized tax benefits was $22.3&#xA0;million plus $2.8&#xA0;million of accrued interest. Depending upon the result of open tax examinations and/or the expiration of applicable statutes of limitation, the company believes it is reasonably possible that the total amount of unrecognized tax benefits may decrease by up to $8.3&#xA0;million within the next 12&#xA0;months.</p> </div> 1.56 <div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> The following table summarizes certain financial instrument assets and (liabilities) measured at fair value on a recurring basis:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="76%"></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>March&#xA0;31,<br /> 2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>December&#xA0;31,<br /> 2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Forward currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(3.3</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Option currency contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3.8</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Interest rate swap contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(22.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(7.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> </table> </div> 2016 <div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>7. Contingencies</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In the ordinary course of business, the company is subject to various legal proceedings, investigations and claims, including, for example, environmental matters, employment disputes, disputes on agreements and other commercial disputes. In addition, the company operates in an industry susceptible to significant product liability and patent legal claims. The company accounts for estimated losses with respect to legal proceedings and claims when such losses are probable and reasonably estimable. If the estimate of a probable loss is a range and no amount within the range is more likely, the company accrues the minimum amount of the range. Legal costs associated with these matters are expensed as incurred. At any given time, in the ordinary course of business, the company is involved as either a plaintiff or defendant in a number of patent infringement actions. If a third party&#x2019;s patent infringement claim were to be determined against the company, the company might be required to make significant royalty or other payments or might be subject to an injunction or other limitation on its ability to manufacture or distribute one or more products. If a patent owned by or licensed to the company is found to be invalid or unenforceable, the company might be required to reduce the value of certain intangible assets on the company&#x2019;s balance sheet and to record a corresponding charge, which could be significant in amount. Many of the company&#x2019;s legal proceedings and claims could have a material adverse effect on its business, results of operations, financial condition and/or liquidity.</p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <i>Product Liability Matters</i></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> <u>Hernia Product Claims</u></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> As of March 31, 2016, approximately 40 federal and 60 state lawsuits involving individual claims by approximately 100 plaintiffs, as well as one putative class action in the United States, are currently pending against the company with respect to its Composix<sup style="font-size:85%; vertical-align:top">&#xAE;</sup> Kugel<sup style="font-size:85%; vertical-align:top">&#xAE;</sup> and certain other hernia repair implant products (collectively, the &#x201C;Hernia Product Claims&#x201D;). The company voluntarily recalled certain sizes and lots of the Composix<sup style="font-size:85%; vertical-align:top">&#xAE;</sup> Kugel<sup style="font-size:85%; vertical-align:top">&#xAE;</sup> products beginning in December 2005. In June 2007, the Composix<sup style="font-size:85%; vertical-align:top">&#xAE;</sup> Kugel<sup style="font-size:85%; vertical-align:top">&#xAE;</sup> lawsuits and, subsequently, other hernia repair product lawsuits, pending in federal courts nationwide were transferred into one Multidistrict Litigation (&#x201C;MDL&#x201D;) for coordinated pre-trial proceedings in the United States District Court for the District of Rhode Island. The MDL stopped accepting new cases in the second quarter of 2014. As of March 31, 2016, all but one of the putative class actions pending against the company were dismissed. The remaining putative class action pending against the company has not been certified and seeks: (i) medical monitoring; (ii) compensatory damages; (iii) punitive damages; (iv) a judicial finding of defect and causation; and/or (v) attorneys&#x2019; fees. In April 2014, a settlement was reached with respect to the three putative Canadian class actions within amounts previously recorded by the company. Approximately 40 of the state lawsuits, involving individual claims by approximately 40 plaintiffs, are pending in the Superior Court of the State of Rhode Island, with the remainder in various other jurisdictions. The Hernia Product Claims also generally seek damages for personal injury resulting from use of the products.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company has resolved the majority of its historical Hernia Product Claims, including through agreements or agreements in principle with various plaintiffs&#x2019; law firms to settle their respective inventories of cases. Each agreement involving the settlement of a firm&#x2019;s inventory of claims was subject to certain conditions, including requirements for participation in the proposed settlements by a certain minimum number of plaintiffs. In addition, the company continues to engage in discussions with other plaintiffs&#x2019; law firms regarding potential resolution of unsettled Hernia Product Claims, and intends to vigorously defend Hernia Product Claims that do not settle, including through litigation. The company expects additional trials of Hernia Product Claims to take place over the next 12 months. The company cannot give any assurances that the resolution of the Hernia Product Claims that have not settled, including asserted and unasserted claims and the putative class action lawsuit, will not have a material adverse effect on the company&#x2019;s business, results of operations, financial condition and/or liquidity.</p> <p style="font-size:1px;margin-top:18px;margin-bottom:0px"> &#xA0;</p> <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> <u>Women&#x2019;s Health Product Claims</u></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> As of March 31, 2016, product liability lawsuits involving individual claims by approximately 12,875 plaintiffs are currently pending against the company in various federal and state jurisdictions alleging personal injuries associated with the use of certain of the company&#x2019;s surgical continence products for women. With respect to a majority of these lawsuits, the company believes that two subsidiaries of Medtronic plc (as successor in interest to Covidien plc) (&#x201C;Medtronic&#x201D;), each a supplier of the company, have an obligation to defend and indemnify the company with respect to any product defect liability. As described below, in July 2015 the company reached an agreement with Medtronic regarding certain aspects of Medtronic&#x2019;s indemnification obligation. In addition, five putative class actions in the United States and five putative class actions in Canada have been filed against the company, and a limited number of other claims have been filed or asserted in various non-U.S. jurisdictions. The foregoing lawsuits, unfiled or unknown claims, putative class actions and other claims, together with claims that have settled or are the subject of agreements or agreements in principle to settle, are referred to collectively as the &#x201C;Women&#x2019;s Health Product Claims&#x201D;. The Women&#x2019;s Health Product Claims generally seek damages for personal injury resulting from use of the products. The putative class actions, none of which has been certified, seek: (i) medical monitoring; (ii) compensatory damages; (iii) punitive damages; (iv) a judicial finding of defect and causation; and/or (v) attorneys&#x2019; fees. In April 2015, the Ontario Superior Court of Justice dismissed the plaintiffs&#x2019; motion for class certification in one Canadian putative class action. In March 2016, the company reached an agreement in principle to resolve all Canadian putative class actions, with the exception of a Quebec class action, within amounts previously recorded by the company. The company expects administration of those settlements to take place over the next several quarters.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In October 2010, the Women&#x2019;s Health Product Claims involving solely Avaulta<sup style="font-size:85%; vertical-align:top">&#xAE;</sup> products pending in federal courts nationwide were transferred into an MDL in the United States District Court for the Southern District of West Virginia (the &#x201C;WV District Court&#x201D;), the scope of which was later expanded to include lawsuits involving all women&#x2019;s surgical continence products that are manufactured or distributed by the company. The first trial in a state court was completed in California in July 2012 and resulted in a judgment against the company of approximately $3.6 million. On appeal the decision was affirmed by the appellate court in November 2014. The company filed a petition for review to the California Supreme Court on December 24, 2014, which was denied on February 18, 2015. The judgment in this matter, including interest and costs, was paid on March 20, 2015 within the amounts previously recorded by the company. The first trial in the MDL commenced in July 2013 and resulted in a judgment against the company of approximately $2 million, which was upheld by the Fourth Circuit on January 14, 2016. The company does not believe that any verdicts entered to date are representative of potential outcomes of all Women&#x2019;s Health Product Claims. On January 16, 2014 and July 31, 2014, the WV District Court ordered that the company prepare 200 and then an additional 300 individual cases, respectively, for trial (the &#x201C;WHP Pre-Trial Orders&#x201D;) (the timing for which is currently unknown). The WHP Pre-Trial Orders resulted in significant additional litigation-related defense costs beginning in the second quarter of 2014 and continuing through the second quarter of 2015. In February 2015, the WV District Court appointed a Special Master to assist with settlement resolution. In June 2015, the WV District Court issued an order staying the requirement to prepare a significant portion of the cases covered by the WHP Pre-Trial Orders, which stay could be modified at the court&#x2019;s discretion. The WHP Pre-Trial Orders may result in material additional cost in future periods in defending Women&#x2019;s Health Product Claims. The WV District Court may also order that the company prepare additional cases for trial, which could result in material additional costs in future periods.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> As of March 31, 2016, the company reached agreements or agreements in principle with various plaintiffs&#x2019; law firms to settle their respective inventories of cases totaling approximately 6,845 Women&#x2019;s Health Product Claims, including approximately: 560 during 2014 and 6,285 during 2015. The company believes that these Women&#x2019;s Health Product Claims are not the subject of Medtronic&#x2019;s indemnification obligation. These settlement agreements and agreements in principle include unfiled and previously unknown claims held by various plaintiffs&#x2019; law firms, which have not been included in the approximate number of lawsuits set forth in the first paragraph of this section. Each agreement is subject to certain conditions, including requirements for participation in the proposed settlements by a certain minimum number of plaintiffs. The company continues to engage in discussions with other plaintiffs&#x2019; law firms regarding potential resolution of unsettled Women&#x2019;s Health Product Claims, which may include additional inventory settlements. Notwithstanding these settlement efforts, the company anticipates additional trials over the next 12 months. In addition, one or more possible consolidated trials may occur in the future.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In July 2015, as part of the agreement noted above, Medtronic agreed to take responsibility for pursuing settlement of certain of the Women&#x2019;s Health Product Claims that relate to products distributed by the company under supply agreements with Medtronic and the company has paid Medtronic $121 million towards these potential settlements. The company also may, in its sole discretion, transfer responsibility for settlement of additional Women&#x2019;s Health Product Claims to Medtronic on similar terms. The agreement does not resolve the dispute between the company and Medtronic with respect to Women&#x2019;s Health Product Claims that do not settle, if any. As part of the agreement, Medtronic and the company agreed to dismiss without prejudice their previously filed litigation with respect to Medtronic&#x2019;s obligation to defend and indemnify the company.</p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> &#xA0;</p> <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The approximate number of lawsuits set forth in the first paragraph of this section does not include approximately 660 generic complaints involving women&#x2019;s health products where the company cannot, based on the allegations in the complaints, determine whether any of those cases involve the company&#x2019;s women&#x2019;s health products. In addition, the approximate number of lawsuits set forth in the first paragraph of this section does not include approximately 1,070 claims that have been threatened against the company but for which complaints have not yet been filed. In addition, the company has limited information regarding the nature and quantity of these and other unfiled or unknown claims. During the course of engaging in settlement discussions with plaintiffs&#x2019; law firms, the company has learned, and may in future periods learn, additional information regarding these and other unfiled or unknown claims, or other lawsuits, which could materially impact the company&#x2019;s estimate of the number of claims or lawsuits against the company. While the company continues to engage in discussions with other plaintiffs&#x2019; law firms regarding potential resolution of unsettled Women&#x2019;s Health Product Claims and intends to vigorously defend the Women&#x2019;s Health Product Claims that do not settle, including through litigation, it cannot give any assurances that the resolution of these claims will not have a material adverse effect on the company&#x2019;s business, results of operations, financial condition and/or liquidity.</p> <p style="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> <u>Filter Product Claims</u></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> As of March 31, 2016, product liability lawsuits involving individual claims by approximately 375 plaintiffs are currently pending against the company in various federal and state jurisdictions alleging personal injuries associated with the use of the company&#x2019;s vena cava filter products (all lawsuits, collectively, the &#x201C;Filter Product Claims&#x201D;). In August 2015, the Judicial Panel for Multi-District Litigation (&#x201C;JPML&#x201D;) ordered the creation of a Multi-District Litigation for all federal Filter Product Claims (the &#x201C;IVC Filter MDL&#x201D;) in the District of Arizona. There are approximately 345 lawsuits that have been, or shortly will be, transferred to the IVC Filter MDL. The remaining approximately 30 lawsuits are pending in various state courts across the country. In March 2016, a Canadian class action was filed against the company in Quebec. The first Filter Product Claim trial was completed in June 2012 and resulted in a judgment for the company. During the second quarter of 2013, the company finalized settlement agreements with respect to more than 30 Filter Product Claims and made payments with respect to such claims within the amounts previously recorded by the company. The approximate number of lawsuits set forth above do not include approximately 75 claims that have been threatened against the company but for which complaints have not yet been filed. In addition, the company has limited information regarding the nature and quantity of these and other unfiled or unknown claims. The company continues to receive claims and lawsuits and may in future periods learn additional information regarding other unfiled or unknown claims, or other lawsuits, which could materially impact the company&#x2019;s estimate of the number of claims or lawsuits against the company. The company expects that additional trials of Filter Product Claims may take place over the next 12 months. While the company intends to vigorously defend Filter Product Claims that do not settle, including through litigation, it cannot give any assurances that the resolution of these claims will not have a material adverse effect on the company&#x2019;s business, results of operations, financial condition and/or liquidity.</p> <p style="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> <u>General</u></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In most product liability litigations (like those described above), plaintiffs allege a wide variety of claims, ranging from allegations of serious injury caused by the products to efforts to obtain compensation notwithstanding the absence of any injury. In many of these cases, the company has not yet received and reviewed complete information regarding the plaintiffs and their medical conditions and, consequently, is unable to fully evaluate the claims. The company expects that it will receive and review additional information regarding any remaining unsettled product liability matters.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company believes that some settlements and judgments, as well as some legal defense costs, relating to product liability matters are or may be covered in whole or in part under its product liability insurance policies with a limited number of insurance carriers, or, in some circumstances, indemnification obligations to the company from other parties. In certain circumstances, insurance carriers reserve their rights with respect to coverage, or contest or deny coverage, as has occurred with respect to certain claims. In addition, other parties may dispute their indemnification obligations to the company with respect to certain claims. When either of these occur, the company intends to vigorously contest disputes with respect to its insurance coverage or indemnification and to enforce its rights, and accordingly, will record expected recoveries with respect to amounts due under these policies or arrangements, when recovery is probable. Amounts recovered under the company&#x2019;s product liability insurance policies or indemnification arrangements may be less than the stated coverage limits or less than otherwise expected and may not be adequate to cover damages and/or costs relating to claims. In addition, there is no guarantee that insurers or other parties will pay claims or that coverage or indemnity will be otherwise available.</p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> &#xA0;</p> <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company&#x2019;s insurance coverage with respect to the Hernia Product Claims has been exhausted. The company continues to evaluate its available insurance coverage as it relates to Women&#x2019;s Health Product Claims and Filter Product Claims.</p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <i>Other Legal Matters</i></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Since early 2013, the company has received subpoenas or Civil Investigative Demands from a number of State Attorneys General seeking information related to the sales and marketing of certain of the company&#x2019;s products that are the subject of the Hernia Product Claims and the Women&#x2019;s Health Product Claims. The company is cooperating with these requests. Since it is not feasible to predict the outcome of these proceedings, the company cannot give any assurances that the resolution of these proceedings will not have a material adverse effect on the company&#x2019;s business, results of operations, financial condition and/or liquidity.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In November 2015, the Department of Defense Inspector General issued an investigative subpoena to the company. The Department of Health and Human Services is also participating in this investigation. The subpoena seeks documents related to the company&#x2019;s sales and marketing of certain filter products, drug coated balloon catheters, and peripheral arterial disease detection products. The company is cooperating with these requests. Since it is not feasible to predict the outcome of these proceedings, the company cannot give any assurances that the resolution of these proceedings will not have a material adverse effect on the company&#x2019;s business, results of operations, financial condition and/or liquidity.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In June 2011, W.L. Gore &amp; Associates, Inc. (&#x201C;Gore&#x201D;) filed suit in the U.S. District Court in Delaware alleging the company had infringed on several of Gore&#x2019;s patents. Fact and expert discovery have been completed and in the fourth quarter of 2014, the parties both filed a number of motions, including motions for summary judgment. Oral arguments on the motions occurred on January 30, 2015. In December 2015, the Delaware District Court granted the company&#x2019;s motion of no willful infringement, thereby eliminating Gore&#x2019;s request for enhanced damages. The company&#x2019;s summary judgment motion of laches (undue delay) remains pending, which could impact the total potential damages period. In the third quarter of 2015 the company filed a motion to dismiss a significant portion of Gore&#x2019;s damages claim on the grounds that Gore lacks proper standing. The trial on this matter has been continued until later in 2016. The company intends to vigorously defend the allegations asserted by Gore. The company cannot give any assurances that an adverse resolution of this matter will not have a material adverse effect on the company&#x2019;s business, results of operations, financial condition and/or liquidity.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company is subject to numerous federal, state, local and foreign environmental protection laws governing, among other things, the generation, storage, use and transportation of hazardous materials and emissions or discharges into the ground, air or water. The company is or may become a party to proceedings brought under various federal laws including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), commonly known as Superfund, the Resource Conservation and Recovery Act, the Clean Water Act, the Clean Air Act and similar state or foreign laws. These proceedings seek to require the owners or operators of contaminated sites, transporters of hazardous materials to the sites and generators of hazardous materials disposed of at the sites to clean up the sites or to reimburse the government for cleanup costs. In most cases, there are other potentially responsible parties that may be liable for remediation costs. In these cases, the government alleges that the defendants are jointly and severally liable for the cleanup costs; however, these proceedings are frequently resolved so that the allocation of cleanup costs among the parties more closely reflects the relative contributions of the parties to the site contamination. The company&#x2019;s potential liability varies greatly from site to site. For some sites, the potential liability is de minimis and for others the costs of cleanup have not yet been determined. Accruals for estimated losses from environmental remediation obligations generally are recognized no later than completion of the remedial feasibility study and are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are not discounted to their present value. Recoveries of environmental remediation costs from other parties are recorded as assets when their receipt is deemed probable. The company believes that the proceedings and claims described above will likely be resolved over an extended period of time. While it is not feasible to predict the outcome of these proceedings, based upon the company&#x2019;s experience, current information and applicable law, the company does not expect these proceedings to have a material adverse effect on its financial condition and/or liquidity. However, one or more of the proceedings could be material to the company&#x2019;s business and/or results of operations.</p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <i>Litigation Reserves</i></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company regularly monitors and evaluates the status of product liability and other legal matters, and may, from time-to-time, engage in settlement and mediation discussions taking into consideration developments in the matters and the risks and uncertainties surrounding litigation. These discussions could result in settlements of one or more of these claims at any time.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In the second quarter of 2014, the company recorded a charge, net of estimated recoveries to other (income) expense, net, of approximately $259.0 million ($238.0 million after tax) related to certain of the product liability matters discussed above under the heading &#x201C;Product Liability Matters&#x201D;. The company recorded this charge based on additional information obtained during the quarter, including but not limited to: the allegations and documentation supporting or refuting such allegations; publicly available information regarding similar medical device mass tort settlements; historical information regarding other product liability settlements involving the company; and the procedural posture and stage of litigation. Specifically, the company considered its discussions with plaintiffs&#x2019; counsel, the increase in the rate of claims being filed (which led the company to increase its estimate of future Women&#x2019;s Health Product Claims), and the value, number of cases and nature of the inventory of cases with respect to the recent settlements of claims by the company and other manufacturers.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In the second quarter of 2015, the company recorded an additional charge related to these matters, net of estimated recoveries to other (income) expense, net, of approximately $337.0 million ($325.0 million after tax). The company recorded this charge based on additional information obtained during the quarter, including with respect to the factors noted above. Specifically the company considered the agreement and the agreement in principle by the company to settle approximately 2,880 Women&#x2019;s Health Product Claims, the involvement of the Special Master in settlement resolution, additional settlements by other manufacturers subject to product liability claims with respect to similar products, and the continued rate of claims being filed (which led the company to increase its estimate of future Women&#x2019;s Health Product Claims).</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In the third quarter of 2015, the company recorded an additional charge related to these matters to other (income) expense, net, of approximately $241.0 million ($228.0 million after tax). The company recorded this charge based on additional information obtained with respect to the quarter, including with respect to the factors noted above. Specifically, the company considered the agreements and the agreement in principle by the company to settle approximately 3,030 Women&#x2019;s Health Product Claims, discussions with plaintiffs&#x2019; counsel, additional information learned regarding the nature and quantity of unfiled and unknown claims (which led the company to increase its estimate of future Women&#x2019;s Health Product Claims), a reconciliation of claims in connection with settlements, additional settlements by other manufacturers subject to product liability claims with respect to similar products, the rate of claims being filed, and the creation of the IVC Filter MDL.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In the first quarter of 2016, the company recorded an additional charge related to these matters to other (income) expense, net, of approximately $49.0 million ($31.0 million after tax). The company recorded this charge based on additional information obtained with respect to the quarter. Specifically, the company considered, among other factors, additional information learned regarding the nature and quantity of unfiled and filed claims, the increase in advertising by plaintiffs&#x2019; counsel with respect to IVC filters and an increase in the rate of claims being filed in Filter Product Claims (which led the company to increase its estimate of future Filter Product Claims).</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> These charges recognized the estimated costs for the product liability matters discussed above, including (with respect to such matters) filed and an estimate of unfiled and unknown claims, and costs to administer the settlements related to such matters. These charges exclude any costs associated with the putative class action lawsuits in the United States.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company cannot give any assurances that the actual costs incurred with respect to these product liability matters will not exceed the related amounts accrued. With respect to product liability claims that are not resolved through settlement, the company intends to vigorously defend against such claims, including through litigation. The company cannot give any assurances that the resolution of any of its product liability matters, including filed, unfiled and unknown claims and the putative class action lawsuits, will not have a material adverse effect on the company&#x2019;s business, results of operations, financial condition and/or liquidity.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Accruals for product liability and other legal matters amounted to $1,167.1 million, of which $429.9 million was recorded to accrued expenses, and $1,174.3 million, of which $516.5 million was recorded to accrued expenses, at March 31, 2016 and December 31, 2015, respectively. The company has made total payments of $569.7 million to qualified settlement funds (&#x201C;QSFs&#x201D;), subject to certain settlement conditions, for certain product liability matters, of which $182.5 million were made to QSFs during the three months ended March 31, 2016. Payments to QSFs are recorded as a component of restricted cash. Total payments of $361.0 million from these QSFs have been made to qualified claimants, of which $52.3 million were made during the three months ended March 31, 2016. In addition, other payments of $63.7 million have been made to qualified claimants, of which $1.2 million were made during the three months ended March 31, 2016.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company recorded expected recoveries related to product liability matters amounting to $164.2 million, of which $163.6 million was recorded to other assets, and $132.8 million, of which $132.1 million was recorded to other assets, at March 31, 2016 and December 31, 2015, respectively. The terms of the company&#x2019;s agreement with Medtronic are substantially consistent with the assumptions underlying, and the manner in which, the company has recorded expected recoveries related to the indemnification obligation. The expected recoveries at March 31, 2016 and December 31, 2015 related to the indemnification obligation are not in dispute with respect to claims that Medtronic settles pursuant to the agreement. As described above, the agreement does not resolve the dispute between the company and Medtronic with respect to Women&#x2019;s Health Product Claims that do not settle, if any, and the company also may, in its sole discretion, transfer responsibility for settlement of additional Women&#x2019;s Health Product Claims to Medtronic on similar terms.</p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> &#xA0;</p> <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company is unable to estimate the reasonably possible losses or range of losses, if any, arising from certain existing product liability matters and other legal matters. Under U.S. generally accepted accounting principles, an event is &#x201C;reasonably possible&#x201D; if &#x201C;the chance of the future event or events occurring is more than remote but less than likely&#x201D; and an event is &#x201C;remote&#x201D; if &#x201C;the chance of the future event or events occurring is slight&#x201D;. With respect to putative class action lawsuits in the United States and certain of the Canadian lawsuits relating to product liability matters, the company is unable to estimate a range of reasonably possible losses for the following reasons: (i) all or certain of the proceedings are in early stages; (ii) the company has not received and reviewed complete information regarding all or certain of the plaintiffs and their medical conditions; and/or (iii) there are significant factual issues to be resolved. In addition, there is uncertainty as to the likelihood of a class being certified or the ultimate size of the class. In addition, with respect to the investigative subpoenas issued by various state and federal government agencies and other legal matters, the company is unable to estimate a range of reasonably possible losses for the following reasons: (i) all or certain of the proceedings are in early stages; and/or (ii) there are significant factual issues to be resolved.</p> </div> 75200000 1.54 <div> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Inventories consisted of:</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> &#xA0;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="76%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>March&#xA0;31,<br /> 2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>December&#xA0;31,<br /> 2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style="margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Finished goods</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">259.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">252.3</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Work in process</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">30.1</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">23.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Raw materials</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">149.8</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">137.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">439.7</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">413.7</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> <div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The changes in accumulated other comprehensive income (loss) by component are as follows:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr> <td width="65%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Derivative</b><br /> <b>Instruments</b><br /> <b>Designated&#xA0;as<br /> Cash&#xA0;Flow&#xA0;Hedges</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Foreign&#xA0;Currency</b><br /> <b>Translation<br /> Adjustments</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Benefit<br /> Plans</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Total</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at December 31, 2014</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(3.1</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(86.6</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(88.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss) before reclassifications</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(53.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(53.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Tax (provision) benefit <sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(a)</sup></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.3</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.3</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss) before reclassifications, net of taxes</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(53.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(52.2</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassifications</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(1.9</td> <td valign="bottom" nowrap="nowrap">)<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(b)</sup>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.9</td> <td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(c)</sup>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Tax provision (benefit)</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(1.0</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(0.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassifications, net of tax</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(1.4</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss)</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(53.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(51.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at March 31, 2015</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(56.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(84.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(140.5</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at December 31, 2015</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(8.7</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(94.2</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(105.1</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(208.0</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss) before reclassifications</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(15.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(14.3</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Tax (provision) benefit <sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(a)</sup></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">5.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">5.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss) before reclassifications, net of taxes</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(10.4</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(8.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassifications</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.6</td> <td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(b)</sup>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.6</td> <td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(c)</sup>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Tax provision (benefit)</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(0.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(0.3</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassifications, net of tax</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.2</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.9</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Other comprehensive income (loss)</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(9.2</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1.7</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(5.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at March 31, 2016</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(17.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(92.6</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(103.4</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(213.9</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="MARGIN-BOTTOM: 2pt; BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt; WIDTH: 10%"> &#xA0;</p> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="3%" align="left">(a)</td> <td valign="top" align="left">Income taxes are not provided for foreign currency translation adjustment.</td> </tr> </table> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="3%" align="left">(b)</td> <td valign="top" align="left">See Note 5 of the notes to condensed consolidated financial statements.</td> </tr> </table> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="3%" align="left">(c)</td> <td valign="top" align="left">These components are included in the computation of net periodic pension cost. See Note 9 of the notes to condensed consolidated financial statements.</td> </tr> </table> </div> <div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>9. Pension Plans</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The company has both tax-qualified and nonqualified, noncontributory defined benefit pension plans, that together cover certain domestic and foreign employees. These plans provide benefits based upon a participant&#x2019;s compensation and years of service.</p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> &#xA0;</p> <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The components of net periodic pension cost are as follows:</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> &#xA0;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="84%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"> <b>Three&#xA0;Months&#xA0;Ended</b><br /> <b>March&#xA0;31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Service cost, net of employee contributions</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">7.3</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">7.5</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Interest cost</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">4.7</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">5.0</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Expected return on plan assets</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(8.1</td> <td nowrap="nowrap" valign="bottom">)&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(7.8</td> <td nowrap="nowrap" valign="bottom">)&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Amortization</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.9</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Net periodic pension cost</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">6.5</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">7.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In 2016, the company changed its method used to estimate the service and interest cost components of net periodic benefit cost for defined benefit plans from a single weighted-average discount rate to a full yield curve approach. The reduction in service and interest cost for the quarter ended March 31, 2016 associated with this change in estimate was approximately $1.3 million.</p> </div> <div> <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The components of net periodic pension cost are as follows:</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> &#xA0;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="84%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"> <b>Three&#xA0;Months&#xA0;Ended</b><br /> <b>March&#xA0;31,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom">(dollars in millions)</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td colspan="2" valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Service cost, net of employee contributions</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">7.3</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">7.5</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Interest cost</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">4.7</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">5.0</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Expected return on plan assets</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(8.1</td> <td nowrap="nowrap" valign="bottom">)&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(7.8</td> <td nowrap="nowrap" valign="bottom">)&#xA0;</td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Amortization</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.9</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"> Net periodic pension cost</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">6.5</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">7.6</td> <td nowrap="nowrap" valign="bottom">&#xA0;&#xA0;</td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div> 115600000 130200000 -14300000 110300000 20500000 202800000 -9200000 -60000000 17100000 21300000 142900000 26900000 873500000 -6100000 -300000 18000000 250000000 22500000 16600000 1600000 -8800000 -5900000 116200000 -1000000 200000 167400000 11300000 -1600000 53000000 167400000 102600000 26700000 -138200000 48900000 600000 -5500000 730600000 20900000 -185500000 -1700000 525600000 -3200000 26200000 19000000 26200000 -40100000 270600000 -2900000 -353700000 320400000 68300000 1200000 7700000 2 9300000 52300000 31000000 182500000 P12M 100000 -6500000 P2Y10M21D 0.0083 These units have requisite service periods of three years and have no dividend rights. P3Y 0.0052 P3Y P5Y 2020-11 0 -900000 0 1700000 0 -2600000 -1700000 -15900000 600000 -10400000 -9200000 -5500000 -600000 -1200000 1600000 0 1600000 1600000 0 0 0 625400000 104300000 34600000 109200000 -1300000 241900000 24000000 151400000 216700000 239500000 2016-01 -14500000 0 -1700000 1800000 -800000 -2400000 2016-05 -600000 -17000000 49000000 8100000 -2600000 6500000 4700000 7300000 228000000 241000000 3030 0000009892 bcr:WomenSHealthProductClaimsMember 2015-07-01 2015-09-30 0000009892 us-gaap:OtherNonoperatingIncomeExpenseMember 2015-07-01 2015-09-30 0000009892 2015-07-01 2015-09-30 0000009892 us-gaap:PensionPlansDefinedBenefitMember 2016-01-01 2016-03-31 0000009892 us-gaap:OtherNonoperatingIncomeExpenseMember 2016-01-01 2016-03-31 0000009892 us-gaap:CashFlowHedgingMember 2016-01-01 2016-03-31 0000009892 bcr:ForwardStartingInterestRateSwapsMember 2016-01-01 2016-03-31 0000009892 us-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMemberus-gaap:CostOfSalesMember 2016-01-01 2016-03-31 0000009892 us-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember 2016-01-01 2016-03-31 0000009892 us-gaap:ForeignExchangeOptionMemberus-gaap:CashFlowHedgingMemberus-gaap:CostOfSalesMember 2016-01-01 2016-03-31 0000009892 us-gaap:ForeignExchangeOptionMemberus-gaap:CashFlowHedgingMember 2016-01-01 2016-03-31 0000009892 us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember 2016-01-01 2016-03-31 0000009892 us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember 2016-01-01 2016-03-31 0000009892 us-gaap:InterestRateSwapMember 2016-01-01 2016-03-31 0000009892 bcr:VascularMember 2016-01-01 2016-03-31 0000009892 bcr:UrologyMember 2016-01-01 2016-03-31 0000009892 bcr:SurgicalSpecialtiesMember 2016-01-01 2016-03-31 0000009892 bcr:OtherProductGroupMember 2016-01-01 2016-03-31 0000009892 bcr:OncologyMember 2016-01-01 2016-03-31 0000009892 us-gaap:ChangeInAssumptionsForPensionPlansMember 2016-01-01 2016-03-31 0000009892 bcr:OtherLocationMember 2016-01-01 2016-03-31 0000009892 country:JP 2016-01-01 2016-03-31 0000009892 us-gaap:EuropeMember 2016-01-01 2016-03-31 0000009892 country:US 2016-01-01 2016-03-31 0000009892 us-gaap:AccumulatedTranslationAdjustmentMember 2016-01-01 2016-03-31 0000009892 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2016-01-01 2016-03-31 0000009892 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2016-01-01 2016-03-31 0000009892 bcr:FiveYearCreditFacilityExpiringInNovemberTwoThousandTwentyMember 2016-01-01 2016-03-31 0000009892 bcr:PerformanceRestrictedStockUnitsMember 2016-01-01 2016-03-31 0000009892 2016-01-01 2016-03-31 0000009892 bcr:WomenSHealthProductClaimsMember 2015-04-01 2015-06-30 0000009892 us-gaap:OtherNonoperatingIncomeExpenseMember 2015-04-01 2015-06-30 0000009892 2015-04-01 2015-06-30 0000009892 us-gaap:OtherNonoperatingIncomeExpenseMember 2014-04-01 2014-06-30 0000009892 2014-04-01 2014-06-30 0000009892 bcr:StateLawClaimsMemberbcr:FilterProductClaimsMemberus-gaap:MinimumMember 2013-04-01 2013-06-30 0000009892 us-gaap:PensionPlansDefinedBenefitMember 2015-01-01 2015-03-31 0000009892 us-gaap:CashFlowHedgingMember 2015-01-01 2015-03-31 0000009892 us-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMemberus-gaap:CostOfSalesMember 2015-01-01 2015-03-31 0000009892 us-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember 2015-01-01 2015-03-31 0000009892 us-gaap:ForeignExchangeOptionMemberus-gaap:CashFlowHedgingMemberus-gaap:CostOfSalesMember 2015-01-01 2015-03-31 0000009892 us-gaap:ForeignExchangeOptionMemberus-gaap:CashFlowHedgingMember 2015-01-01 2015-03-31 0000009892 us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember 2015-01-01 2015-03-31 0000009892 us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember 2015-01-01 2015-03-31 0000009892 bcr:VascularMember 2015-01-01 2015-03-31 0000009892 bcr:UrologyMember 2015-01-01 2015-03-31 0000009892 bcr:SurgicalSpecialtiesMember 2015-01-01 2015-03-31 0000009892 bcr:OtherProductGroupMember 2015-01-01 2015-03-31 0000009892 bcr:OncologyMember 2015-01-01 2015-03-31 0000009892 bcr:OtherLocationMember 2015-01-01 2015-03-31 0000009892 country:JP 2015-01-01 2015-03-31 0000009892 us-gaap:EuropeMember 2015-01-01 2015-03-31 0000009892 country:US 2015-01-01 2015-03-31 0000009892 us-gaap:AccumulatedTranslationAdjustmentMember 2015-01-01 2015-03-31 0000009892 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2015-01-01 2015-03-31 0000009892 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2015-01-01 2015-03-31 0000009892 bcr:PerformanceRestrictedStockUnitsMember 2015-01-01 2015-03-31 0000009892 2015-01-01 2015-03-31 0000009892 bcr:WomenSHealthProductClaimsMember 2015-01-01 2015-12-31 0000009892 bcr:WomenSHealthProductClaimsMember 2014-01-01 2014-12-31 0000009892 bcr:MultiDistrictLitigationMemberbcr:WomenSHealthProductClaimsMember 2013-07-01 2013-07-31 0000009892 bcr:WomenSHealthProductClaimsMemberstpr:CA 2012-07-01 2012-07-31 0000009892 bcr:StateLawClaimsMemberbcr:SuperiorCourtOfStateOfRhodeIslandMemberbcr:HerniaProductClaimsMember 2007-06-01 2007-06-30 0000009892 bcr:OntarioSuperiorCourtOfJusticeMemberbcr:WomenSHealthProductClaimsMembercountry:CA 2015-04-01 2015-04-30 0000009892 bcr:HerniaProductClaimsMembercountry:CA 2014-04-01 2014-04-30 0000009892 bcr:WomenSHealthProductClaimsMemberbcr:MedtronicIncMember 2015-07-01 2016-03-31 0000009892 2012-01-01 2016-03-31 0000009892 bcr:LiberatorMedicalHoldingsIncMemberus-gaap:CustomerRelationshipsMemberus-gaap:WeightedAverageMember 2016-01-21 2016-01-21 0000009892 bcr:LiberatorMedicalHoldingsIncMemberus-gaap:OtherIntangibleAssetsMemberus-gaap:WeightedAverageMember 2016-01-21 2016-01-21 0000009892 bcr:LiberatorMedicalHoldingsIncMember 2016-01-21 2016-01-21 0000009892 bcr:MedtronicIncMemberbcr:WomenSHealthProductClaimsMember 2016-03-31 2016-03-31 0000009892 bcr:WomenSHealthProductClaimsMember 2016-03-31 2016-03-31 0000009892 bcr:HerniaProductClaimsMember 2016-03-31 2016-03-31 0000009892 bcr:FilterProductClaimsMember 2016-03-31 2016-03-31 0000009892 bcr:WomenSHealthProductClaimsMemberus-gaap:MinimumMember 2016-03-31 2016-03-31 0000009892 us-gaap:MinimumMember 2016-03-31 2016-03-31 0000009892 bcr:StateLawClaimsMemberbcr:SuperiorCourtOfStateOfRhodeIslandMemberbcr:HerniaProductClaimsMember 2016-03-31 2016-03-31 0000009892 bcr:WomenSHealthProductClaimsMembercountry:CA 2016-03-31 2016-03-31 0000009892 bcr:WomenSHealthProductClaimsMembercountry:US 2016-03-31 2016-03-31 0000009892 bcr:HerniaProductClaimsMembercountry:US 2016-03-31 2016-03-31 0000009892 bcr:EmboMedicalLimitedMember 2015-12-03 2015-12-03 0000009892 bcr:LiberatorMedicalHoldingsIncMemberus-gaap:CustomerRelationshipsMember 2016-01-21 0000009892 bcr:LiberatorMedicalHoldingsIncMemberus-gaap:OtherIntangibleAssetsMember 2016-01-21 0000009892 bcr:LiberatorMedicalHoldingsIncMember 2016-01-21 0000009892 us-gaap:CommercialPaperMember 2015-12-31 0000009892 us-gaap:ForeignExchangeContractMember 2015-12-31 0000009892 us-gaap:OtherNoncurrentLiabilitiesMemberbcr:MediconIncMember 2015-12-31 0000009892 us-gaap:AccruedLiabilitiesMember 2015-12-31 0000009892 us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember 2015-12-31 0000009892 us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMember 2015-12-31 0000009892 us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember 2015-12-31 0000009892 bcr:MediconIncMemberus-gaap:FairValueInputsLevel2Member 2015-12-31 0000009892 us-gaap:FairValueInputsLevel2Member 2015-12-31 0000009892 us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember 2015-12-31 0000009892 us-gaap:OtherCurrentAssetsMemberus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember 2015-12-31 0000009892 us-gaap:OtherCurrentAssetsMemberus-gaap:ForeignExchangeOptionMemberus-gaap:DesignatedAsHedgingInstrumentMember 2015-12-31 0000009892 us-gaap:OtherCurrentAssetsMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember 2015-12-31 0000009892 us-gaap:OtherAssetsMemberus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember 2015-12-31 0000009892 us-gaap:AccruedLiabilitiesMemberus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember 2015-12-31 0000009892 us-gaap:AccruedLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember 2015-12-31 0000009892 us-gaap:DesignatedAsHedgingInstrumentMember 2015-12-31 0000009892 us-gaap:AccumulatedTranslationAdjustmentMember 2015-12-31 0000009892 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2015-12-31 0000009892 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2015-12-31 0000009892 bcr:ReceivablesRelatedToProductLiabilityMattersMemberus-gaap:OtherAssetsMember 2015-12-31 0000009892 bcr:ReceivablesRelatedToProductLiabilityMattersMember 2015-12-31 0000009892 2015-12-31 0000009892 us-gaap:AccumulatedTranslationAdjustmentMember 2014-12-31 0000009892 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2014-12-31 0000009892 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2014-12-31 0000009892 2014-12-31 0000009892 bcr:MultiDistrictLitigationMemberbcr:WomenSHealthProductClaimsMember 2014-01-16 0000009892 us-gaap:CommercialPaperMember 2016-03-31 0000009892 bcr:ForwardStartingInterestRateSwapsMember 2016-03-31 0000009892 us-gaap:ForeignExchangeContractMember 2016-03-31 0000009892 us-gaap:OtherNoncurrentLiabilitiesMemberbcr:MediconIncMember 2016-03-31 0000009892 us-gaap:AccruedLiabilitiesMember 2016-03-31 0000009892 bcr:NationalHealthcareSystemsAndPrivateSectorCustomersMember 2016-03-31 0000009892 bcr:StateLawClaimsMemberbcr:HerniaProductClaimsMember 2016-03-31 0000009892 bcr:StateLawClaimsMemberbcr:FilterProductClaimsMember 2016-03-31 0000009892 bcr:StateLawClaimsMemberbcr:SuperiorCourtOfStateOfRhodeIslandMemberbcr:HerniaProductClaimsMember 2016-03-31 0000009892 bcr:MultiDistrictLitigationMemberbcr:FilterProductClaimsMember 2016-03-31 0000009892 bcr:FederalLawClaimsMemberbcr:HerniaProductClaimsMember 2016-03-31 0000009892 us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember 2016-03-31 0000009892 us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMember 2016-03-31 0000009892 us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember 2016-03-31 0000009892 bcr:MediconIncMemberus-gaap:FairValueInputsLevel2Member 2016-03-31 0000009892 us-gaap:FairValueInputsLevel2Member 2016-03-31 0000009892 us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember 2016-03-31 0000009892 us-gaap:OtherCurrentAssetsMemberus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember 2016-03-31 0000009892 us-gaap:OtherCurrentAssetsMemberus-gaap:ForeignExchangeOptionMemberus-gaap:DesignatedAsHedgingInstrumentMember 2016-03-31 0000009892 us-gaap:OtherCurrentAssetsMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember 2016-03-31 0000009892 us-gaap:OtherAssetsMemberus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember 2016-03-31 0000009892 us-gaap:AccruedLiabilitiesMemberus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember 2016-03-31 0000009892 us-gaap:AccruedLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember 2016-03-31 0000009892 us-gaap:DesignatedAsHedgingInstrumentMember 2016-03-31 0000009892 us-gaap:AccumulatedTranslationAdjustmentMember 2016-03-31 0000009892 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2016-03-31 0000009892 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2016-03-31 0000009892 bcr:FiveYearCreditFacilityExpiringInNovemberTwoThousandTwentyMember 2016-03-31 0000009892 bcr:ReceivablesRelatedToProductLiabilityMattersMemberus-gaap:OtherAssetsMember 2016-03-31 0000009892 bcr:ReceivablesRelatedToProductLiabilityMattersMember 2016-03-31 0000009892 bcr:TwoThousandTwelveLongTermIncentivePlanMember 2016-03-31 0000009892 bcr:DirectorsPlanMember 2016-03-31 0000009892 2016-03-31 0000009892 us-gaap:AccumulatedTranslationAdjustmentMember 2015-03-31 0000009892 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2015-03-31 0000009892 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2015-03-31 0000009892 2015-03-31 0000009892 us-gaap:InterestRateSwapMember 2016-01-31 0000009892 bcr:EmboMedicalLimitedMemberus-gaap:InProcessResearchAndDevelopmentMember 2015-12-03 0000009892 bcr:EmboMedicalLimitedMember 2015-12-03 0000009892 bcr:MultiDistrictLitigationMemberbcr:WomenSHealthProductClaimsMember 2014-07-31 bcr:LegalMatter pure iso4217:USD shares iso4217:USD shares bcr:Country bcr:Plaintiff bcr:Claim bcr:Subsidiary bcr:CompensationPlan Income taxes are not provided for foreign currency translation adjustment. See Note 5 of the notes to condensed consolidated financial statements. These components are included in the computation of net periodic pension cost. See Note 9 of the notes to condensed consolidated financial statements. EX-101.SCH 8 bcr-20160331.xsd XBRL TAXONOMY EXTENSION SCHEMA 101 - Document - Document and Entity Information link:calculationLink link:presentationLink link:definitionLink 103 - Statement - Condensed Consolidated Statements of Income link:calculationLink link:presentationLink link:definitionLink 104 - Statement - Condensed Consolidated Statements of Comprehensive Income link:calculationLink link:presentationLink link:definitionLink 105 - Statement - Condensed Consolidated Balance Sheets link:calculationLink link:presentationLink link:definitionLink 106 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:calculationLink link:presentationLink link:definitionLink 107 - Statement - Condensed Consolidated Statements of Cash Flows link:calculationLink link:presentationLink link:definitionLink 108 - Disclosure - Basis of Presentation link:calculationLink link:presentationLink link:definitionLink 109 - Disclosure - Acquisitions link:calculationLink link:presentationLink link:definitionLink 110 - Disclosure - Earnings per Common Share link:calculationLink link:presentationLink link:definitionLink 111 - Disclosure - Income Taxes link:calculationLink link:presentationLink link:definitionLink 112 - Disclosure - Financial Instruments link:calculationLink link:presentationLink link:definitionLink 113 - Disclosure - Inventories link:calculationLink link:presentationLink link:definitionLink 114 - Disclosure - Contingencies link:calculationLink link:presentationLink link:definitionLink 115 - Disclosure - Share-Based Compensation Plans link:calculationLink link:presentationLink link:definitionLink 116 - Disclosure - Pension Plans link:calculationLink link:presentationLink link:definitionLink 117 - Disclosure - Shareholders' Investment link:calculationLink link:presentationLink link:definitionLink 118 - Disclosure - Segment Information link:calculationLink link:presentationLink link:definitionLink 119 - Disclosure - Earnings per Common Share (Tables) link:calculationLink link:presentationLink link:definitionLink 120 - Disclosure - Financial Instruments (Tables) link:calculationLink link:presentationLink link:definitionLink 121 - Disclosure - Inventories (Tables) link:calculationLink link:presentationLink link:definitionLink 122 - Disclosure - Pension Plans (Tables) link:calculationLink link:presentationLink link:definitionLink 123 - Disclosure - Shareholders' Investment (Tables) link:calculationLink link:presentationLink link:definitionLink 124 - Disclosure - Segment Information (Tables) link:calculationLink link:presentationLink link:definitionLink 125 - Disclosure - Acquisitions - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 126 - Disclosure - Earnings Per Share Computation (Detail) link:calculationLink link:presentationLink link:definitionLink 127 - Disclosure - Income Taxes - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 128 - Disclosure - Financial Instruments - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 129 - Disclosure - Location and Fair Value of Derivative Instruments Designated as Hedging Instruments (Detail) link:calculationLink link:presentationLink link:definitionLink 130 - Disclosure - Location and Amounts of Gains and Losses on Derivative Instruments Designated as Cash Flow Hedges (Detail) link:calculationLink link:presentationLink link:definitionLink 131 - Disclosure - Financial Instrument Assets and (Liabilities) Measured at Fair Value on Recurring Basis (Detail) link:calculationLink link:presentationLink link:definitionLink 132 - Disclosure - Inventories (Detail) link:calculationLink link:presentationLink link:definitionLink 133 - Disclosure - Contingencies - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 134 - Disclosure - Share-Based Compensation Plans - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 135 - Disclosure - Components of Net Periodic Pension Cost (Detail) link:calculationLink link:presentationLink link:definitionLink 136 - Disclosure - Pension Plans - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 137 - Disclosure - Shareholders' Investment - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 138 - Disclosure - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) link:calculationLink link:presentationLink link:definitionLink 139 - Disclosure - Net Sales Based on Location of External Customer and Identifiable Assets by Geographic Region (Detail) link:calculationLink link:presentationLink link:definitionLink 140 - Disclosure - Total Net Sales by Product Group Category (Detail) link:calculationLink link:presentationLink link:definitionLink EX-101.CAL 9 bcr-20160331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 10 bcr-20160331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 11 bcr-20160331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-101.PRE 12 bcr-20160331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 13 R1.htm IDEA: XBRL DOCUMENT v3.4.0.3
Document and Entity Information
3 Months Ended
Mar. 31, 2016
shares
Document Information [Line Items]  
Document Type 10-Q
Amendment Flag false
Document Period End Date Mar. 31, 2016
Document Fiscal Year Focus 2016
Document Fiscal Period Focus Q1
Trading Symbol BCR
Entity Registrant Name BARD C R INC /NJ/
Entity Central Index Key 0000009892
Current Fiscal Year End Date --12-31
Entity Filer Category Large Accelerated Filer
Entity Common Stock, Shares Outstanding 73,318,689
XML 14 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net sales $ 873.5 $ 819.7
Costs and expenses:    
Cost of goods sold 320.4 311.2
Marketing, selling and administrative expense 270.6 235.7
Research and development expense 68.3 60.6
Interest expense 11.3 11.3
Other (income) expense, net 60.0 16.3
Total costs and expenses 730.6 635.1
Income from operations before income taxes 142.9 184.6
Income tax provision 26.7 44.8
Net income $ 116.2 $ 139.8
Basic earnings per share available to common shareholders $ 1.56 $ 1.85
Diluted earnings per share available to common shareholders $ 1.54 $ 1.82
XML 15 R3.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net income $ 116.2 $ 139.8
Other comprehensive income (loss)    
Change in derivative instruments designated as cash flow hedges, net of tax (9.2) 0.1
Foreign currency translation adjustments 1.6 (53.7)
Benefit plan adjustments, net of tax 1.7 1.9
Other comprehensive income (loss) (5.9) (51.7)
Comprehensive income $ 110.3 $ 88.1
XML 16 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Current assets    
Cash and cash equivalents $ 765.0 $ 950.5
Restricted cash 210.6 80.4
Accounts receivable, less allowances of $10,300 and $7,500, respectively 458.1 445.1
Inventories 439.7 413.7
Short-term deferred tax assets 97.3 123.9
Other current assets 104.2 79.6
Total current assets 2,074.9 2,093.2
Property, plant and equipment, at cost 831.0 807.8
Less accumulated depreciation and amortization 357.1 335.4
Net property, plant and equipment 473.9 472.4
Goodwill 1,264.2 1,140.6
Core and developed technologies, net 728.2 744.3
Other intangible assets, net 383.2 274.8
Deferred tax assets 28.8 21.8
Other assets 223.7 192.1
Total assets 5,176.9 4,939.2
Current liabilities    
Short-term borrowings and current maturities of long-term debt 525.6 250.2
Accounts payable 96.8 70.7
Accrued expenses 623.0 730.0
Accrued compensation and benefits 140.3 187.9
Income taxes payable 7.9 23.0
Total current liabilities 1,393.6 1,261.8
Long-term debt 1,144.5 1,144.1
Other long-term liabilities 1,015.0 936.7
Deferred income taxes $ 163.9 $ 141.3
Commitments and contingencies
Shareholders' investment:    
Preferred stock, $1 par value, authorized 5,000,000 shares; none issued
Common stock, $0.25 par value, authorized 600,000,000 shares; issued and outstanding 73,318,689 shares at March 31, 2016 and 73,697,371 shares at December 31, 2015 $ 18.3 $ 18.4
Capital in excess of par value 2,210.0 2,148.4
Accumulated deficit (554.5) (503.5)
Accumulated other comprehensive loss (213.9) (208.0)
Total shareholders' investment 1,459.9 1,455.3
Total liabilities and shareholders' investment $ 5,176.9 $ 4,939.2
XML 17 R5.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Accounts receivable, allowances $ 10.3 $ 7.5
Preferred stock, par value $ 1 $ 1
Preferred stock, authorized 5,000,000 5,000,000
Preferred stock, issued 0 0
Common stock, par value $ 0.25 $ 0.25
Common stock, authorized 600,000,000 600,000,000
Common stock, issued 73,318,689 73,697,371
Common stock, outstanding 73,318,689 73,697,371
XML 18 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 116.2 $ 139.8
Adjustments to reconcile net income to net cash provided by operating activities, net of acquired businesses:    
Depreciation and amortization 53.0 46.1
Litigation charges 48.9 10.3
Restructuring and productivity initiative costs, net of payments 7.7 3.3
Deferred income taxes 20.9 26.5
Share-based compensation 26.2 23.0
Inventory reserves and provision for doubtful accounts 9.3 5.2
Other items 1.0 1.3
Changes in assets and liabilities, net of acquired businesses:    
Accounts receivable 6.1 8.6
Inventories (21.3) (20.6)
Current liabilities (138.2) (104.1)
Taxes (40.1) (8.3)
Other, net (22.5) (17.1)
Net cash provided by operating activities 67.2 114.0
Cash flows from investing activities:    
Capital expenditures (20.5) (29.2)
Change in restricted cash (130.2) 26.1
Payments made for purchases of businesses, net of cash acquired (202.8) 0.0
Payments made for intangibles (0.2) (0.2)
Net cash used in investing activities (353.7) (3.3)
Cash flows from financing activities:    
Change in short-term borrowings, net 525.6 153.0
Payment of long-term debt (250.0) 0.0
Proceeds from exercises under share-based compensation plans, net (6.5) 5.3
Excess tax benefit relating to share-based compensation plans 19.0 17.6
Purchases of common stock (167.4) (204.2)
Dividends paid (18.0) (16.8)
Payments of contingent consideration (0.1) (4.0)
Net cash provided by (used in) financing activities 102.6 (49.1)
Effect of exchange rate changes on cash and cash equivalents (1.6) (17.5)
(Decrease) increase in cash and cash equivalents during the period (185.5) 44.1
Balance at January 1 950.5 960.1
Balance at March 31 765.0 1,004.2
Cash paid for:    
Interest 16.6 16.0
Income taxes 26.9 9.0
Non-cash transactions:    
Purchases of businesses and related costs $ 17.1 $ 0.0
XML 19 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
Basis of Presentation
3 Months Ended
Mar. 31, 2016
Basis of Presentation

1. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of C. R. Bard, Inc. and its subsidiaries (the “company” or “Bard”) should be read in conjunction with the audited consolidated financial statements and notes thereto included in Bard’s 2015 Annual Report on Form 10-K. These financial statements have been prepared on a basis that is substantially consistent with the accounting principles applied in the financial statements in Bard’s 2015 Annual Report on Form 10-K. The preparation of these financial statements requires the company to make estimates and judgments that affect reported amounts of assets, liabilities, revenues and expenses and the related disclosure of contingent assets and liabilities at the date of the financial statements. These financial statements include all normal and recurring adjustments necessary for a fair presentation. The accounts of most foreign subsidiaries are consolidated as of and for the quarters ended February 29, 2016 and February 28, 2015 and as of November 30, 2015. No events occurred related to these foreign subsidiaries during the months of March 2016, March 2015 or December 2015 that materially affected the financial position or results of operations of the company. The results for the interim periods presented are not necessarily indicative of the results expected for the year.

Recently Adopted Accounting Pronouncement

In April 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that requires debt issuance costs to be presented as a direct deduction from the carrying amount of the related debt rather than as an asset. In 2016, the company retrospectively adopted this update, as required, and the amounts reclassified from other assets to long-term debt on the consolidated balance sheets were not material.

New Accounting Pronouncements Not Yet Adopted

In March 2016, the FASB issued an accounting standard update that includes multiple provisions intended to simplify various aspects of the accounting for share-based payments, including the income tax items and the classification of these items on the statement of cash flows. This update will be effective as of the beginning of Bard’s 2017 fiscal year. The company is assessing this update and has not yet determined the impact to the consolidated financial statements.

In February 2016, the FASB issued a new accounting standard to use in the accounting for leases. The new standard will require, among other items, lessees to recognize most leases on the balance sheet by recording a right-of-use asset and a lease liability. This standard will be effective as of the beginning of Bard’s 2019 fiscal year. The company is assessing the new standard and has not yet determined the impact to the consolidated financial statements.

In November 2015, the FASB issued an accounting standard update that simplifies the balance sheet classification of deferred taxes. This update requires all deferred tax assets and liabilities to be reported as non-current in the balance sheet. This update will be effective as of the beginning of Bard’s 2017 fiscal year. Other than the reclassification to non-current of the short-term deferred tax assets and liabilities recognized in the consolidated balance sheets, this update is not expected to have a material impact on the company’s consolidated financial statements.

In May 2014, the FASB issued a new accounting standard that provides for a comprehensive model to use in the accounting for revenue arising from contracts with customers. Under this standard, revenue will be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The company continues to assess the new standard, as well as updates to the standard that have been proposed by the FASB, and has not yet determined the impact to the consolidated financial statements. The company will adopt the new standard beginning with Bard’s 2018 fiscal year.

XML 20 R8.htm IDEA: XBRL DOCUMENT v3.4.0.3
Acquisitions
3 Months Ended
Mar. 31, 2016
Acquisitions

2. Acquisitions

On January 21, 2016, the company acquired all of the outstanding shares of Liberator Medical Holdings, Inc. (“Liberator”), a publicly-held direct-to-consumer distributor of urological catheters, ostomy supplies, mastectomy fashions and diabetic medical supplies for a purchase price of $181.1 million. This acquisition enhances the company’s position in the home healthcare market in the United States. The acquisition was accounted for as a business combination, and the results of operations have been included in the company’s results since the acquisition date. The fair value of the assets acquired and the liabilities assumed results in the recognition of: customer relationships of $53.0 million; other intangibles of $26.0 million, primarily consisting of a trade name and non-compete agreements; deferred tax liabilities of $31.6 million, primarily associated with intangible assets; and other net assets of $11.9 million. The excess of the purchase price over fair value of the acquired net assets was recorded as goodwill of $121.8 million. The goodwill recognized includes the value of expected market expansion in the home healthcare market through Liberator’s direct-to-consumer capabilities that provide additional opportunity for market penetration. Additionally, synergies are expected to result from the alignment of sales call points within the company’s sales organization. The goodwill is not deductible for tax purposes. Customer relationships and other intangible assets are being amortized over their weighted average estimated useful lives of approximately 12 years and 8 years, respectively. The company has not yet finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date become available.

On December 3, 2015, the company, through a wholly-owned foreign subsidiary, acquired all of the outstanding shares of Embo Medical Limited (“Embo”), a privately-held company headquartered in Galway, Ireland, specializing in the development of peripheral embolization devices. The total purchase consideration included an up-front cash payment of $21.0 million and the fair value of future additional milestone payments of up to $22.5 million that are contingent upon specific regulatory and revenue-related milestones being achieved, which had a fair value of $16.6 million as of the acquisition date. The acquisition was recognized in the first quarter of 2016 for this foreign subsidiary. The fair value of the assets acquired and the liabilities assumed resulted in the recognition of: an acquired in-process research and development asset (“IPR&D”) of $36.1 million related to the development of the CaterpillarTM vascular plug device; goodwill of $4.4 million; and other net liabilities of $2.9 million. The goodwill is not deductible for tax purposes. The fair value of the IPR&D asset was determined based upon the present value of expected future cash flows adjusted for the probability of technological and regulatory success, utilizing a risk-adjusted discount rate of 17.5%. The fair value of the future contingent consideration was determined utilizing a probability weighted cash flow estimate adjusted for the expected timing of the payment. The company has not yet finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date become available.

XML 21 R9.htm IDEA: XBRL DOCUMENT v3.4.0.3
Earnings per Common Share
3 Months Ended
Mar. 31, 2016
Earnings per Common Share

3. Earnings per Common Share

Earnings per share (“EPS”) is computed under the two-class method using the following common share information:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars and shares in millions)              

EPS Numerator:

     

Net income

   $ 116.2       $ 139.8   

Less: Income allocated to participating securities

     0.6         2.1   
  

 

 

    

 

 

 

Net income available to common shareholders

   $ 115.6       $ 137.7   
  

 

 

    

 

 

 

EPS Denominator:

     

Weighted average common shares outstanding

     74.0         74.4   

Dilutive common share equivalents from share-based compensation plans

     1.2         1.4   
  

 

 

    

 

 

 

Weighted average common and common equivalent shares outstanding, assuming dilution

     75.2         75.8   
  

 

 

    

 

 

 
XML 22 R10.htm IDEA: XBRL DOCUMENT v3.4.0.3
Income Taxes
3 Months Ended
Mar. 31, 2016
Income Taxes

4. Income Taxes

The company’s effective tax rate for the quarter ended March 31, 2016 was 18.7% compared to 24.3% for the same period in the prior year. The effective tax rate for the quarter ended March 31, 2016 reflected the discrete tax effects of litigation charges related to product liability claims, which were incurred in a high tax jurisdiction. See Note 7 of the notes to condensed consolidated financial statements.

At March 31, 2016, the total amount of liability for unrecognized tax benefits related to federal, state and foreign taxes was $23.3 million (of which $19.7 million would impact the effective tax rate, if recognized) plus $3.1 million of accrued interest. At December 31, 2015, the liability for unrecognized tax benefits was $22.3 million plus $2.8 million of accrued interest. Depending upon the result of open tax examinations and/or the expiration of applicable statutes of limitation, the company believes it is reasonably possible that the total amount of unrecognized tax benefits may decrease by up to $8.3 million within the next 12 months.

XML 23 R11.htm IDEA: XBRL DOCUMENT v3.4.0.3
Financial Instruments
3 Months Ended
Mar. 31, 2016
Financial Instruments

5. Financial Instruments

For further discussion regarding the company’s use of derivative instruments, see Note 1 of the notes to consolidated financial statements in Bard’s 2015 Annual Report on Form 10-K.

 

Foreign Exchange Derivative Instruments

The company enters into readily marketable forward and option contracts with financial institutions to help reduce its exposure to foreign currency exchange rate fluctuations. These contracts limit volatility because gains and losses associated with foreign currency exchange rate movements are generally offset by movements in the underlying hedged item. The notional value of the company’s forward currency and option currency contracts was $205.4 million and $191.6 million at March 31, 2016 and December 31, 2015, respectively.

Interest Rate Derivative Instruments

In January 2016, the company’s outstanding interest rate swap contract was terminated concurrent with the maturity of the underlying 2.875% fixed-rate notes. The notional value of the company’s interest rate swap contract was $250 million and effectively converted these fixed-rate notes to a floating-rate instrument.

The company maintains a forward starting interest rate swap contract which is intended to manage its exposure to interest rate volatility in anticipation of issuing fixed-rate debt. The company’s forward swap contract has a notional value of $250 million and a mandatory termination date of May 2016.

The location and fair value of derivative instruments that are designated as hedging instruments recognized in the condensed consolidated balance sheets are as follows:

 

     Balance Sheet
Location
   Fair Value
of Derivatives
 

Derivatives Designated as Hedging Instruments

      March 31,
2016
     December 31,
2015
 
(dollars in millions)                   

Forward currency contracts

   Other current assets    $ 1.2       $ 2.9   

Option currency contracts

   Other current assets      1.7         3.8   

Interest rate swap contract

   Other current assets      —           0.2   

Forward currency contracts

   Other assets      0.1         —     
     

 

 

    

 

 

 
      $ 3.0       $ 6.9   
     

 

 

    

 

 

 

Forward currency contracts

   Accrued expenses    $ 4.0       $ 6.2   

Interest rate swap contract

   Accrued expenses      22.5         8.0   
     

 

 

    

 

 

 
      $ 26.5       $ 14.2   
     

 

 

    

 

 

 

The location and amounts of gains and losses on derivative instruments designated as cash flow hedges and the impact on shareholders’ investment are as follows:

 

     Gain/(Loss)
Recognized in Other
Comprehensive
Income (Loss)
    Location of
Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss  into
Income
   Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss
into Income
 
     Three Months Ended
March 31,
       Three Months Ended
March 31,
 
     2016     2015        2016     2015  
(dollars in millions)                              

Forward currency contracts

   $ (0.8   $ 0.1      Cost of goods sold    $ (2.4   $ 0.8   

Option currency contracts

     (1.7     9.0      Cost of goods sold      1.8        1.1   

Interest rate swap contract

     (14.5     (7.9   Interest expense      —          —     
  

 

 

   

 

 

      

 

 

   

 

 

 
   $ (17.0   $ 1.2         $ (0.6   $ 1.9   
  

 

 

   

 

 

      

 

 

   

 

 

 

Financial Instruments Measured at Fair Value on a Recurring Basis

Fair value is defined as the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that is determined using assumptions that market participants would use in pricing an asset or liability. The fair value guidance establishes a three-level hierarchy which maximizes the use of observable inputs and minimizes the use of unobservable inputs used in measuring fair value. The levels within the hierarchy range from Level 1 having observable inputs to Level 3 having unobservable inputs.

 

The following table summarizes certain financial instrument assets and (liabilities) measured at fair value on a recurring basis:

 

     March 31,
2016
     December 31,
2015
 
(dollars in millions)              

Forward currency contracts

   $ (2.7    $ (3.3

Option currency contracts

     1.7         3.8   

Interest rate swap contracts

     (22.5      (7.8

The fair values were measured using significant other observable inputs and valued by reference to similar financial instruments, adjusted for restrictions and other terms specific to each instrument. These financial instruments are categorized as Level 2 under the fair value hierarchy.

The fair value of the liability for contingent consideration related to acquisitions was $22.8 million and $11.2 million at March 31, 2016 and December 31, 2015, respectively. The increase in the fair value of the liability for contingent consideration was primarily related to the addition of contingent consideration due to the acquisition of Embo and was partly offset by a reduction in the probability of the achievement of other unrelated revenue-based and manufacturing-related milestones. See Note 2 of the notes to condensed consolidated financial statements. The fair value was measured using significant unobservable inputs and is categorized as Level 3 under the fair value hierarchy.

Financial Instruments Not Measured at Fair Value

The company maintains a $1 billion five-year committed syndicated bank credit facility that expires in November 2020. The credit facility supports the company’s commercial paper program and can be used for general corporate purposes. The facility includes pricing based on the company’s long-term credit ratings and includes a financial covenant that limits the amount of total debt to total capitalization. At March 31, 2016 the company was in compliance with this covenant. The fair value of commercial paper borrowings outstanding of $525.6 million at March 31, 2016 approximated the carrying value. There were no commercial paper borrowings outstanding at December 31, 2015.

The estimated fair value of long-term debt (including current maturities and the effect of the related interest rate swap contract for the prior year period) was approximately $1,227.0 million and $1,449.8 million at March 31, 2016 and December 31, 2015, respectively. The decrease in fair value is primarily due to the company’s redemption of its $250 million 2.875% notes due January 2016. The fair value was estimated using dealer quotes for similarly-rated debt instruments over the remaining contractual term of the company’s obligation and is categorized as Level 2 under the fair value hierarchy.

The fair value of the non-contingent future payments related to the Medicon, Inc. acquisition of $70.9 million and $66.0 million at March 31, 2016 and December 31, 2015, respectively, approximated the carrying value. At March 31, 2016 and December 31, 2015, future payments of $54.1 million and $50.3 million, respectively, were recorded to other long-term liabilities. These payments will be paid in Japanese Yen and are subject to exchange rate fluctuations. The fair value was estimated by discounting the future payments based upon the timing of such payments and is categorized as Level 2 under the fair value hierarchy.

Concentration Risk

Accounts receivable balances include sales to government-supported healthcare systems outside the United States. The company monitors economic conditions and evaluates accounts receivable in certain countries for potential collection risks. Economic conditions and other factors in certain countries, particularly in Spain, Italy, Greece and Portugal, have resulted in, and may continue to result in, an increase in the average length of time that it takes to collect these accounts receivable and may require the company to re-evaluate the collectability of these receivables in future periods. At March 31, 2016, the company’s accounts receivable, net of allowances, from the national healthcare systems and private sector customers in these four countries was $49.6 million, of which $4.7 million was greater than 365 days past due.

XML 24 R12.htm IDEA: XBRL DOCUMENT v3.4.0.3
Inventories
3 Months Ended
Mar. 31, 2016
Inventories

6. Inventories

Inventories consisted of:

 

     March 31,
2016
     December 31,
2015
 
(dollars in millions)              

Finished goods

   $ 259.8       $ 252.3   

Work in process

     30.1         23.8   

Raw materials

     149.8         137.6   
  

 

 

    

 

 

 
   $ 439.7       $ 413.7   
  

 

 

    

 

 

 
XML 25 R13.htm IDEA: XBRL DOCUMENT v3.4.0.3
Contingencies
3 Months Ended
Mar. 31, 2016
Contingencies

7. Contingencies

In the ordinary course of business, the company is subject to various legal proceedings, investigations and claims, including, for example, environmental matters, employment disputes, disputes on agreements and other commercial disputes. In addition, the company operates in an industry susceptible to significant product liability and patent legal claims. The company accounts for estimated losses with respect to legal proceedings and claims when such losses are probable and reasonably estimable. If the estimate of a probable loss is a range and no amount within the range is more likely, the company accrues the minimum amount of the range. Legal costs associated with these matters are expensed as incurred. At any given time, in the ordinary course of business, the company is involved as either a plaintiff or defendant in a number of patent infringement actions. If a third party’s patent infringement claim were to be determined against the company, the company might be required to make significant royalty or other payments or might be subject to an injunction or other limitation on its ability to manufacture or distribute one or more products. If a patent owned by or licensed to the company is found to be invalid or unenforceable, the company might be required to reduce the value of certain intangible assets on the company’s balance sheet and to record a corresponding charge, which could be significant in amount. Many of the company’s legal proceedings and claims could have a material adverse effect on its business, results of operations, financial condition and/or liquidity.

Product Liability Matters

Hernia Product Claims

As of March 31, 2016, approximately 40 federal and 60 state lawsuits involving individual claims by approximately 100 plaintiffs, as well as one putative class action in the United States, are currently pending against the company with respect to its Composix® Kugel® and certain other hernia repair implant products (collectively, the “Hernia Product Claims”). The company voluntarily recalled certain sizes and lots of the Composix® Kugel® products beginning in December 2005. In June 2007, the Composix® Kugel® lawsuits and, subsequently, other hernia repair product lawsuits, pending in federal courts nationwide were transferred into one Multidistrict Litigation (“MDL”) for coordinated pre-trial proceedings in the United States District Court for the District of Rhode Island. The MDL stopped accepting new cases in the second quarter of 2014. As of March 31, 2016, all but one of the putative class actions pending against the company were dismissed. The remaining putative class action pending against the company has not been certified and seeks: (i) medical monitoring; (ii) compensatory damages; (iii) punitive damages; (iv) a judicial finding of defect and causation; and/or (v) attorneys’ fees. In April 2014, a settlement was reached with respect to the three putative Canadian class actions within amounts previously recorded by the company. Approximately 40 of the state lawsuits, involving individual claims by approximately 40 plaintiffs, are pending in the Superior Court of the State of Rhode Island, with the remainder in various other jurisdictions. The Hernia Product Claims also generally seek damages for personal injury resulting from use of the products.

The company has resolved the majority of its historical Hernia Product Claims, including through agreements or agreements in principle with various plaintiffs’ law firms to settle their respective inventories of cases. Each agreement involving the settlement of a firm’s inventory of claims was subject to certain conditions, including requirements for participation in the proposed settlements by a certain minimum number of plaintiffs. In addition, the company continues to engage in discussions with other plaintiffs’ law firms regarding potential resolution of unsettled Hernia Product Claims, and intends to vigorously defend Hernia Product Claims that do not settle, including through litigation. The company expects additional trials of Hernia Product Claims to take place over the next 12 months. The company cannot give any assurances that the resolution of the Hernia Product Claims that have not settled, including asserted and unasserted claims and the putative class action lawsuit, will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

 

Women’s Health Product Claims

As of March 31, 2016, product liability lawsuits involving individual claims by approximately 12,875 plaintiffs are currently pending against the company in various federal and state jurisdictions alleging personal injuries associated with the use of certain of the company’s surgical continence products for women. With respect to a majority of these lawsuits, the company believes that two subsidiaries of Medtronic plc (as successor in interest to Covidien plc) (“Medtronic”), each a supplier of the company, have an obligation to defend and indemnify the company with respect to any product defect liability. As described below, in July 2015 the company reached an agreement with Medtronic regarding certain aspects of Medtronic’s indemnification obligation. In addition, five putative class actions in the United States and five putative class actions in Canada have been filed against the company, and a limited number of other claims have been filed or asserted in various non-U.S. jurisdictions. The foregoing lawsuits, unfiled or unknown claims, putative class actions and other claims, together with claims that have settled or are the subject of agreements or agreements in principle to settle, are referred to collectively as the “Women’s Health Product Claims”. The Women’s Health Product Claims generally seek damages for personal injury resulting from use of the products. The putative class actions, none of which has been certified, seek: (i) medical monitoring; (ii) compensatory damages; (iii) punitive damages; (iv) a judicial finding of defect and causation; and/or (v) attorneys’ fees. In April 2015, the Ontario Superior Court of Justice dismissed the plaintiffs’ motion for class certification in one Canadian putative class action. In March 2016, the company reached an agreement in principle to resolve all Canadian putative class actions, with the exception of a Quebec class action, within amounts previously recorded by the company. The company expects administration of those settlements to take place over the next several quarters.

In October 2010, the Women’s Health Product Claims involving solely Avaulta® products pending in federal courts nationwide were transferred into an MDL in the United States District Court for the Southern District of West Virginia (the “WV District Court”), the scope of which was later expanded to include lawsuits involving all women’s surgical continence products that are manufactured or distributed by the company. The first trial in a state court was completed in California in July 2012 and resulted in a judgment against the company of approximately $3.6 million. On appeal the decision was affirmed by the appellate court in November 2014. The company filed a petition for review to the California Supreme Court on December 24, 2014, which was denied on February 18, 2015. The judgment in this matter, including interest and costs, was paid on March 20, 2015 within the amounts previously recorded by the company. The first trial in the MDL commenced in July 2013 and resulted in a judgment against the company of approximately $2 million, which was upheld by the Fourth Circuit on January 14, 2016. The company does not believe that any verdicts entered to date are representative of potential outcomes of all Women’s Health Product Claims. On January 16, 2014 and July 31, 2014, the WV District Court ordered that the company prepare 200 and then an additional 300 individual cases, respectively, for trial (the “WHP Pre-Trial Orders”) (the timing for which is currently unknown). The WHP Pre-Trial Orders resulted in significant additional litigation-related defense costs beginning in the second quarter of 2014 and continuing through the second quarter of 2015. In February 2015, the WV District Court appointed a Special Master to assist with settlement resolution. In June 2015, the WV District Court issued an order staying the requirement to prepare a significant portion of the cases covered by the WHP Pre-Trial Orders, which stay could be modified at the court’s discretion. The WHP Pre-Trial Orders may result in material additional cost in future periods in defending Women’s Health Product Claims. The WV District Court may also order that the company prepare additional cases for trial, which could result in material additional costs in future periods.

As of March 31, 2016, the company reached agreements or agreements in principle with various plaintiffs’ law firms to settle their respective inventories of cases totaling approximately 6,845 Women’s Health Product Claims, including approximately: 560 during 2014 and 6,285 during 2015. The company believes that these Women’s Health Product Claims are not the subject of Medtronic’s indemnification obligation. These settlement agreements and agreements in principle include unfiled and previously unknown claims held by various plaintiffs’ law firms, which have not been included in the approximate number of lawsuits set forth in the first paragraph of this section. Each agreement is subject to certain conditions, including requirements for participation in the proposed settlements by a certain minimum number of plaintiffs. The company continues to engage in discussions with other plaintiffs’ law firms regarding potential resolution of unsettled Women’s Health Product Claims, which may include additional inventory settlements. Notwithstanding these settlement efforts, the company anticipates additional trials over the next 12 months. In addition, one or more possible consolidated trials may occur in the future.

In July 2015, as part of the agreement noted above, Medtronic agreed to take responsibility for pursuing settlement of certain of the Women’s Health Product Claims that relate to products distributed by the company under supply agreements with Medtronic and the company has paid Medtronic $121 million towards these potential settlements. The company also may, in its sole discretion, transfer responsibility for settlement of additional Women’s Health Product Claims to Medtronic on similar terms. The agreement does not resolve the dispute between the company and Medtronic with respect to Women’s Health Product Claims that do not settle, if any. As part of the agreement, Medtronic and the company agreed to dismiss without prejudice their previously filed litigation with respect to Medtronic’s obligation to defend and indemnify the company.

 

The approximate number of lawsuits set forth in the first paragraph of this section does not include approximately 660 generic complaints involving women’s health products where the company cannot, based on the allegations in the complaints, determine whether any of those cases involve the company’s women’s health products. In addition, the approximate number of lawsuits set forth in the first paragraph of this section does not include approximately 1,070 claims that have been threatened against the company but for which complaints have not yet been filed. In addition, the company has limited information regarding the nature and quantity of these and other unfiled or unknown claims. During the course of engaging in settlement discussions with plaintiffs’ law firms, the company has learned, and may in future periods learn, additional information regarding these and other unfiled or unknown claims, or other lawsuits, which could materially impact the company’s estimate of the number of claims or lawsuits against the company. While the company continues to engage in discussions with other plaintiffs’ law firms regarding potential resolution of unsettled Women’s Health Product Claims and intends to vigorously defend the Women’s Health Product Claims that do not settle, including through litigation, it cannot give any assurances that the resolution of these claims will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

Filter Product Claims

As of March 31, 2016, product liability lawsuits involving individual claims by approximately 375 plaintiffs are currently pending against the company in various federal and state jurisdictions alleging personal injuries associated with the use of the company’s vena cava filter products (all lawsuits, collectively, the “Filter Product Claims”). In August 2015, the Judicial Panel for Multi-District Litigation (“JPML”) ordered the creation of a Multi-District Litigation for all federal Filter Product Claims (the “IVC Filter MDL”) in the District of Arizona. There are approximately 345 lawsuits that have been, or shortly will be, transferred to the IVC Filter MDL. The remaining approximately 30 lawsuits are pending in various state courts across the country. In March 2016, a Canadian class action was filed against the company in Quebec. The first Filter Product Claim trial was completed in June 2012 and resulted in a judgment for the company. During the second quarter of 2013, the company finalized settlement agreements with respect to more than 30 Filter Product Claims and made payments with respect to such claims within the amounts previously recorded by the company. The approximate number of lawsuits set forth above do not include approximately 75 claims that have been threatened against the company but for which complaints have not yet been filed. In addition, the company has limited information regarding the nature and quantity of these and other unfiled or unknown claims. The company continues to receive claims and lawsuits and may in future periods learn additional information regarding other unfiled or unknown claims, or other lawsuits, which could materially impact the company’s estimate of the number of claims or lawsuits against the company. The company expects that additional trials of Filter Product Claims may take place over the next 12 months. While the company intends to vigorously defend Filter Product Claims that do not settle, including through litigation, it cannot give any assurances that the resolution of these claims will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

General

In most product liability litigations (like those described above), plaintiffs allege a wide variety of claims, ranging from allegations of serious injury caused by the products to efforts to obtain compensation notwithstanding the absence of any injury. In many of these cases, the company has not yet received and reviewed complete information regarding the plaintiffs and their medical conditions and, consequently, is unable to fully evaluate the claims. The company expects that it will receive and review additional information regarding any remaining unsettled product liability matters.

The company believes that some settlements and judgments, as well as some legal defense costs, relating to product liability matters are or may be covered in whole or in part under its product liability insurance policies with a limited number of insurance carriers, or, in some circumstances, indemnification obligations to the company from other parties. In certain circumstances, insurance carriers reserve their rights with respect to coverage, or contest or deny coverage, as has occurred with respect to certain claims. In addition, other parties may dispute their indemnification obligations to the company with respect to certain claims. When either of these occur, the company intends to vigorously contest disputes with respect to its insurance coverage or indemnification and to enforce its rights, and accordingly, will record expected recoveries with respect to amounts due under these policies or arrangements, when recovery is probable. Amounts recovered under the company’s product liability insurance policies or indemnification arrangements may be less than the stated coverage limits or less than otherwise expected and may not be adequate to cover damages and/or costs relating to claims. In addition, there is no guarantee that insurers or other parties will pay claims or that coverage or indemnity will be otherwise available.

 

The company’s insurance coverage with respect to the Hernia Product Claims has been exhausted. The company continues to evaluate its available insurance coverage as it relates to Women’s Health Product Claims and Filter Product Claims.

Other Legal Matters

Since early 2013, the company has received subpoenas or Civil Investigative Demands from a number of State Attorneys General seeking information related to the sales and marketing of certain of the company’s products that are the subject of the Hernia Product Claims and the Women’s Health Product Claims. The company is cooperating with these requests. Since it is not feasible to predict the outcome of these proceedings, the company cannot give any assurances that the resolution of these proceedings will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

In November 2015, the Department of Defense Inspector General issued an investigative subpoena to the company. The Department of Health and Human Services is also participating in this investigation. The subpoena seeks documents related to the company’s sales and marketing of certain filter products, drug coated balloon catheters, and peripheral arterial disease detection products. The company is cooperating with these requests. Since it is not feasible to predict the outcome of these proceedings, the company cannot give any assurances that the resolution of these proceedings will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

In June 2011, W.L. Gore & Associates, Inc. (“Gore”) filed suit in the U.S. District Court in Delaware alleging the company had infringed on several of Gore’s patents. Fact and expert discovery have been completed and in the fourth quarter of 2014, the parties both filed a number of motions, including motions for summary judgment. Oral arguments on the motions occurred on January 30, 2015. In December 2015, the Delaware District Court granted the company’s motion of no willful infringement, thereby eliminating Gore’s request for enhanced damages. The company’s summary judgment motion of laches (undue delay) remains pending, which could impact the total potential damages period. In the third quarter of 2015 the company filed a motion to dismiss a significant portion of Gore’s damages claim on the grounds that Gore lacks proper standing. The trial on this matter has been continued until later in 2016. The company intends to vigorously defend the allegations asserted by Gore. The company cannot give any assurances that an adverse resolution of this matter will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

The company is subject to numerous federal, state, local and foreign environmental protection laws governing, among other things, the generation, storage, use and transportation of hazardous materials and emissions or discharges into the ground, air or water. The company is or may become a party to proceedings brought under various federal laws including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), commonly known as Superfund, the Resource Conservation and Recovery Act, the Clean Water Act, the Clean Air Act and similar state or foreign laws. These proceedings seek to require the owners or operators of contaminated sites, transporters of hazardous materials to the sites and generators of hazardous materials disposed of at the sites to clean up the sites or to reimburse the government for cleanup costs. In most cases, there are other potentially responsible parties that may be liable for remediation costs. In these cases, the government alleges that the defendants are jointly and severally liable for the cleanup costs; however, these proceedings are frequently resolved so that the allocation of cleanup costs among the parties more closely reflects the relative contributions of the parties to the site contamination. The company’s potential liability varies greatly from site to site. For some sites, the potential liability is de minimis and for others the costs of cleanup have not yet been determined. Accruals for estimated losses from environmental remediation obligations generally are recognized no later than completion of the remedial feasibility study and are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are not discounted to their present value. Recoveries of environmental remediation costs from other parties are recorded as assets when their receipt is deemed probable. The company believes that the proceedings and claims described above will likely be resolved over an extended period of time. While it is not feasible to predict the outcome of these proceedings, based upon the company’s experience, current information and applicable law, the company does not expect these proceedings to have a material adverse effect on its financial condition and/or liquidity. However, one or more of the proceedings could be material to the company’s business and/or results of operations.

Litigation Reserves

The company regularly monitors and evaluates the status of product liability and other legal matters, and may, from time-to-time, engage in settlement and mediation discussions taking into consideration developments in the matters and the risks and uncertainties surrounding litigation. These discussions could result in settlements of one or more of these claims at any time.

In the second quarter of 2014, the company recorded a charge, net of estimated recoveries to other (income) expense, net, of approximately $259.0 million ($238.0 million after tax) related to certain of the product liability matters discussed above under the heading “Product Liability Matters”. The company recorded this charge based on additional information obtained during the quarter, including but not limited to: the allegations and documentation supporting or refuting such allegations; publicly available information regarding similar medical device mass tort settlements; historical information regarding other product liability settlements involving the company; and the procedural posture and stage of litigation. Specifically, the company considered its discussions with plaintiffs’ counsel, the increase in the rate of claims being filed (which led the company to increase its estimate of future Women’s Health Product Claims), and the value, number of cases and nature of the inventory of cases with respect to the recent settlements of claims by the company and other manufacturers.

In the second quarter of 2015, the company recorded an additional charge related to these matters, net of estimated recoveries to other (income) expense, net, of approximately $337.0 million ($325.0 million after tax). The company recorded this charge based on additional information obtained during the quarter, including with respect to the factors noted above. Specifically the company considered the agreement and the agreement in principle by the company to settle approximately 2,880 Women’s Health Product Claims, the involvement of the Special Master in settlement resolution, additional settlements by other manufacturers subject to product liability claims with respect to similar products, and the continued rate of claims being filed (which led the company to increase its estimate of future Women’s Health Product Claims).

In the third quarter of 2015, the company recorded an additional charge related to these matters to other (income) expense, net, of approximately $241.0 million ($228.0 million after tax). The company recorded this charge based on additional information obtained with respect to the quarter, including with respect to the factors noted above. Specifically, the company considered the agreements and the agreement in principle by the company to settle approximately 3,030 Women’s Health Product Claims, discussions with plaintiffs’ counsel, additional information learned regarding the nature and quantity of unfiled and unknown claims (which led the company to increase its estimate of future Women’s Health Product Claims), a reconciliation of claims in connection with settlements, additional settlements by other manufacturers subject to product liability claims with respect to similar products, the rate of claims being filed, and the creation of the IVC Filter MDL.

In the first quarter of 2016, the company recorded an additional charge related to these matters to other (income) expense, net, of approximately $49.0 million ($31.0 million after tax). The company recorded this charge based on additional information obtained with respect to the quarter. Specifically, the company considered, among other factors, additional information learned regarding the nature and quantity of unfiled and filed claims, the increase in advertising by plaintiffs’ counsel with respect to IVC filters and an increase in the rate of claims being filed in Filter Product Claims (which led the company to increase its estimate of future Filter Product Claims).

These charges recognized the estimated costs for the product liability matters discussed above, including (with respect to such matters) filed and an estimate of unfiled and unknown claims, and costs to administer the settlements related to such matters. These charges exclude any costs associated with the putative class action lawsuits in the United States.

The company cannot give any assurances that the actual costs incurred with respect to these product liability matters will not exceed the related amounts accrued. With respect to product liability claims that are not resolved through settlement, the company intends to vigorously defend against such claims, including through litigation. The company cannot give any assurances that the resolution of any of its product liability matters, including filed, unfiled and unknown claims and the putative class action lawsuits, will not have a material adverse effect on the company’s business, results of operations, financial condition and/or liquidity.

Accruals for product liability and other legal matters amounted to $1,167.1 million, of which $429.9 million was recorded to accrued expenses, and $1,174.3 million, of which $516.5 million was recorded to accrued expenses, at March 31, 2016 and December 31, 2015, respectively. The company has made total payments of $569.7 million to qualified settlement funds (“QSFs”), subject to certain settlement conditions, for certain product liability matters, of which $182.5 million were made to QSFs during the three months ended March 31, 2016. Payments to QSFs are recorded as a component of restricted cash. Total payments of $361.0 million from these QSFs have been made to qualified claimants, of which $52.3 million were made during the three months ended March 31, 2016. In addition, other payments of $63.7 million have been made to qualified claimants, of which $1.2 million were made during the three months ended March 31, 2016.

The company recorded expected recoveries related to product liability matters amounting to $164.2 million, of which $163.6 million was recorded to other assets, and $132.8 million, of which $132.1 million was recorded to other assets, at March 31, 2016 and December 31, 2015, respectively. The terms of the company’s agreement with Medtronic are substantially consistent with the assumptions underlying, and the manner in which, the company has recorded expected recoveries related to the indemnification obligation. The expected recoveries at March 31, 2016 and December 31, 2015 related to the indemnification obligation are not in dispute with respect to claims that Medtronic settles pursuant to the agreement. As described above, the agreement does not resolve the dispute between the company and Medtronic with respect to Women’s Health Product Claims that do not settle, if any, and the company also may, in its sole discretion, transfer responsibility for settlement of additional Women’s Health Product Claims to Medtronic on similar terms.

 

The company is unable to estimate the reasonably possible losses or range of losses, if any, arising from certain existing product liability matters and other legal matters. Under U.S. generally accepted accounting principles, an event is “reasonably possible” if “the chance of the future event or events occurring is more than remote but less than likely” and an event is “remote” if “the chance of the future event or events occurring is slight”. With respect to putative class action lawsuits in the United States and certain of the Canadian lawsuits relating to product liability matters, the company is unable to estimate a range of reasonably possible losses for the following reasons: (i) all or certain of the proceedings are in early stages; (ii) the company has not received and reviewed complete information regarding all or certain of the plaintiffs and their medical conditions; and/or (iii) there are significant factual issues to be resolved. In addition, there is uncertainty as to the likelihood of a class being certified or the ultimate size of the class. In addition, with respect to the investigative subpoenas issued by various state and federal government agencies and other legal matters, the company is unable to estimate a range of reasonably possible losses for the following reasons: (i) all or certain of the proceedings are in early stages; and/or (ii) there are significant factual issues to be resolved.

XML 26 R14.htm IDEA: XBRL DOCUMENT v3.4.0.3
Share-Based Compensation Plans
3 Months Ended
Mar. 31, 2016
Share-Based Compensation Plans

8. Share-Based Compensation Plans

The company may grant a variety of share-based payments under the 2012 Long Term Incentive Plan of C. R. Bard, Inc., as amended and restated (the “LTIP”) and the 2005 Directors’ Stock Award Plan of C. R. Bard, Inc., as amended and restated (the “Directors’ Plan”) to certain directors, officers and employees. The total number of remaining shares at March 31, 2016 that may be issued under the LTIP was 4,602,734 and under the Directors’ Plan was 26,102. Awards under the LTIP may be in the form of stock options, stock appreciation rights, limited stock appreciation rights, restricted stock, unrestricted stock and other stock-based awards. Awards under the Directors’ Plan may be in the form of stock awards, stock options or stock appreciation rights. The company also has two employee stock purchase programs.

For the quarters ended March 31, 2016 and 2015, amounts charged against income for share-based payment arrangements were $26.2 million and $23.0 million, respectively.

In the first quarter of each of 2016 and 2015, the company granted performance restricted stock units to certain officers. These units have requisite service periods of three years and have no dividend rights. The actual payout of these units varies based on the company’s performance over the three-year period based on pre-established targets over the period and a market condition modifier based on total shareholder return (“TSR”) compared to an industry peer group. The actual payout under these awards may exceed an officer’s target payout; however, compensation cost initially recognized assumes that the target payout level will be achieved and may be adjusted for subsequent changes in the expected outcome of the performance-related condition. The fair values of these units are based on the market price of the company’s stock on the date of the grant and use a Monte Carlo simulation model for the TSR component. The fair values of the TSR components of the 2016 and 2015 grants were estimated based on the following assumptions: risk-free interest rate of 0.83% and 0.86%, respectively; dividend yield of 0.52% and 0.51%, respectively; and expected life of 2.89 and 2.78 years, respectively.

As of March 31, 2016, there were $128.0 million of unrecognized compensation expenses related to share-based payment arrangements. These costs are expected to be recognized over a weighted-average period of approximately three years. The company has sufficient shares to satisfy expected share-based payment arrangements in 2016.

XML 27 R15.htm IDEA: XBRL DOCUMENT v3.4.0.3
Pension Plans
3 Months Ended
Mar. 31, 2016
Pension Plans

9. Pension Plans

The company has both tax-qualified and nonqualified, noncontributory defined benefit pension plans, that together cover certain domestic and foreign employees. These plans provide benefits based upon a participant’s compensation and years of service.

 

The components of net periodic pension cost are as follows:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

Service cost, net of employee contributions

   $ 7.3       $ 7.5   

Interest cost

     4.7         5.0   

Expected return on plan assets

     (8.1      (7.8

Amortization

     2.6         2.9   
  

 

 

    

 

 

 

Net periodic pension cost

   $ 6.5       $ 7.6   
  

 

 

    

 

 

 

In 2016, the company changed its method used to estimate the service and interest cost components of net periodic benefit cost for defined benefit plans from a single weighted-average discount rate to a full yield curve approach. The reduction in service and interest cost for the quarter ended March 31, 2016 associated with this change in estimate was approximately $1.3 million.

XML 28 R16.htm IDEA: XBRL DOCUMENT v3.4.0.3
Shareholders' Investment
3 Months Ended
Mar. 31, 2016
Shareholders' Investment

10. Shareholders’ Investment

The company repurchased approximately 0.9 million shares of common stock for $167.4 million in the three months ended March 31, 2016 under its previously announced share repurchase authorization.

Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component are as follows:

 

     Derivative
Instruments
Designated as
Cash Flow Hedges
    Foreign Currency
Translation
Adjustments
    Benefit
Plans
    Total  
(dollars in millions)                         

Balance at December 31, 2014

   $ 0.9      $ (3.1   $ (86.6   $ (88.8

Other comprehensive income (loss) before reclassifications

     0.2        (53.7     —          (53.5

Tax (provision) benefit (a)

     1.3        —          —          1.3   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss) before reclassifications, net of taxes

     1.5        (53.7     —          (52.2
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications

     (1.9 )(b)      —          2.9 (c)      1.0   

Tax provision (benefit)

     0.5        —          (1.0     (0.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications, net of tax

     (1.4     —          1.9        0.5   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss)

     0.1        (53.7     1.9        (51.7
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at March 31, 2015

   $ 1.0      $ (56.8   $ (84.7   $ (140.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2015

   $ (8.7   $ (94.2   $ (105.1   $ (208.0

Other comprehensive income (loss) before reclassifications

     (15.9     1.6        —          (14.3

Tax (provision) benefit (a)

     5.5        —          —          5.5   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss) before reclassifications, net of taxes

     (10.4     1.6        —          (8.8
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications

     0.6 (b)      —          2.6 (c)      3.2   

Tax provision (benefit)

     0.6        —          (0.9     (0.3
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications, net of tax

     1.2        —          1.7        2.9   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss)

     (9.2     1.6        1.7        (5.9
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at March 31, 2016

   $ (17.9   $ (92.6   $ (103.4   $ (213.9
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) Income taxes are not provided for foreign currency translation adjustment.
(b) See Note 5 of the notes to condensed consolidated financial statements.
(c) These components are included in the computation of net periodic pension cost. See Note 9 of the notes to condensed consolidated financial statements.
XML 29 R17.htm IDEA: XBRL DOCUMENT v3.4.0.3
Segment Information
3 Months Ended
Mar. 31, 2016
Segment Information

11. Segment Information

The company’s management considers its business to be a single segment entity – the manufacture and sale of medical devices. The company’s products generally share similar distribution channels and customers. The company designs, develops, manufactures, packages, distributes and sells medical, surgical, diagnostic and patient care devices. The company sells a broad range of products to hospitals, individual healthcare professionals, extended care health facilities and alternate site facilities on a global basis. In general, the company’s products are intended to be used once and then discarded or either temporarily or permanently implanted. The company’s chief operating decision makers evaluate their various global product portfolios on a net sales basis and generally evaluate profitability and associated investment on an enterprise-wide basis due to shared geographic infrastructures.

Net sales based on the location of external customers by geographic region are:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

United States

   $ 625.4       $ 574.1   

Europe

     104.3         106.4   

Japan

     34.6         41.0   

Other

     109.2         98.2   
  

 

 

    

 

 

 
   $ 873.5       $ 819.7   
  

 

 

    

 

 

 

Total net sales by product group category are:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

Vascular

   $ 239.5       $ 231.9   

Urology

     216.7         205.6   

Oncology

     241.9         224.6   

Surgical Specialties

     151.4         135.9   

Other

     24.0         21.7   
  

 

 

    

 

 

 
   $ 873.5       $ 819.7   
  

 

 

    

 

 

 
XML 30 R18.htm IDEA: XBRL DOCUMENT v3.4.0.3
Earnings per Common Share (Tables)
3 Months Ended
Mar. 31, 2016
Earnings Per Share Computation

Earnings per share (“EPS”) is computed under the two-class method using the following common share information:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars and shares in millions)              

EPS Numerator:

     

Net income

   $ 116.2       $ 139.8   

Less: Income allocated to participating securities

     0.6         2.1   
  

 

 

    

 

 

 

Net income available to common shareholders

   $ 115.6       $ 137.7   
  

 

 

    

 

 

 

EPS Denominator:

     

Weighted average common shares outstanding

     74.0         74.4   

Dilutive common share equivalents from share-based compensation plans

     1.2         1.4   
  

 

 

    

 

 

 

Weighted average common and common equivalent shares outstanding, assuming dilution

     75.2         75.8   
  

 

 

    

 

 

 
XML 31 R19.htm IDEA: XBRL DOCUMENT v3.4.0.3
Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2016
Location and Fair Value of Derivative Instruments Designated as Hedging Instruments

The location and fair value of derivative instruments that are designated as hedging instruments recognized in the condensed consolidated balance sheets are as follows:

 

     Balance Sheet
Location
   Fair Value
of Derivatives
 

Derivatives Designated as Hedging Instruments

      March 31,
2016
     December 31,
2015
 
(dollars in millions)                   

Forward currency contracts

   Other current assets    $ 1.2       $ 2.9   

Option currency contracts

   Other current assets      1.7         3.8   

Interest rate swap contract

   Other current assets      —           0.2   

Forward currency contracts

   Other assets      0.1         —     
     

 

 

    

 

 

 
      $ 3.0       $ 6.9   
     

 

 

    

 

 

 

Forward currency contracts

   Accrued expenses    $ 4.0       $ 6.2   

Interest rate swap contract

   Accrued expenses      22.5         8.0   
     

 

 

    

 

 

 
      $ 26.5       $ 14.2   
     

 

 

    

 

 

 
Location and Amounts of Gains and Losses on Derivative Instruments Designated as Cash Flow Hedges

The location and amounts of gains and losses on derivative instruments designated as cash flow hedges and the impact on shareholders’ investment are as follows:

 

     Gain/(Loss)
Recognized in Other
Comprehensive
Income (Loss)
    Location of
Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss  into
Income
   Gain/(Loss) Reclassified
from Accumulated
Other Comprehensive Loss
into Income
 
     Three Months Ended
March 31,
       Three Months Ended
March 31,
 
     2016     2015        2016     2015  
(dollars in millions)                              

Forward currency contracts

   $ (0.8   $ 0.1      Cost of goods sold    $ (2.4   $ 0.8   

Option currency contracts

     (1.7     9.0      Cost of goods sold      1.8        1.1   

Interest rate swap contract

     (14.5     (7.9   Interest expense      —          —     
  

 

 

   

 

 

      

 

 

   

 

 

 
   $ (17.0   $ 1.2         $ (0.6   $ 1.9   
  

 

 

   

 

 

      

 

 

   

 

 

 
Financial Instrument Assets and (Liabilities) Measured at Fair Value on Recurring Basis

The following table summarizes certain financial instrument assets and (liabilities) measured at fair value on a recurring basis:

 

     March 31,
2016
     December 31,
2015
 
(dollars in millions)              

Forward currency contracts

   $ (2.7    $ (3.3

Option currency contracts

     1.7         3.8   

Interest rate swap contracts

     (22.5      (7.8
XML 32 R20.htm IDEA: XBRL DOCUMENT v3.4.0.3
Inventories (Tables)
3 Months Ended
Mar. 31, 2016
Inventories

Inventories consisted of:

 

     March 31,
2016
     December 31,
2015
 
(dollars in millions)              

Finished goods

   $ 259.8       $ 252.3   

Work in process

     30.1         23.8   

Raw materials

     149.8         137.6   
  

 

 

    

 

 

 
   $ 439.7       $ 413.7   
  

 

 

    

 

 

 
XML 33 R21.htm IDEA: XBRL DOCUMENT v3.4.0.3
Pension Plans (Tables)
3 Months Ended
Mar. 31, 2016
Components of Net Periodic Pension Cost

The components of net periodic pension cost are as follows:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

Service cost, net of employee contributions

   $ 7.3       $ 7.5   

Interest cost

     4.7         5.0   

Expected return on plan assets

     (8.1      (7.8

Amortization

     2.6         2.9   
  

 

 

    

 

 

 

Net periodic pension cost

   $ 6.5       $ 7.6   
  

 

 

    

 

 

 
XML 34 R22.htm IDEA: XBRL DOCUMENT v3.4.0.3
Shareholders' Investment (Tables)
3 Months Ended
Mar. 31, 2016
Changes in Accumulated Other Comprehensive Income (Loss) by Component

The changes in accumulated other comprehensive income (loss) by component are as follows:

 

     Derivative
Instruments
Designated as
Cash Flow Hedges
    Foreign Currency
Translation
Adjustments
    Benefit
Plans
    Total  
(dollars in millions)                         

Balance at December 31, 2014

   $ 0.9      $ (3.1   $ (86.6   $ (88.8

Other comprehensive income (loss) before reclassifications

     0.2        (53.7     —          (53.5

Tax (provision) benefit (a)

     1.3        —          —          1.3   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss) before reclassifications, net of taxes

     1.5        (53.7     —          (52.2
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications

     (1.9 )(b)      —          2.9 (c)      1.0   

Tax provision (benefit)

     0.5        —          (1.0     (0.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications, net of tax

     (1.4     —          1.9        0.5   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss)

     0.1        (53.7     1.9        (51.7
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at March 31, 2015

   $ 1.0      $ (56.8   $ (84.7   $ (140.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2015

   $ (8.7   $ (94.2   $ (105.1   $ (208.0

Other comprehensive income (loss) before reclassifications

     (15.9     1.6        —          (14.3

Tax (provision) benefit (a)

     5.5        —          —          5.5   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss) before reclassifications, net of taxes

     (10.4     1.6        —          (8.8
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications

     0.6 (b)      —          2.6 (c)      3.2   

Tax provision (benefit)

     0.6        —          (0.9     (0.3
  

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications, net of tax

     1.2        —          1.7        2.9   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss)

     (9.2     1.6        1.7        (5.9
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at March 31, 2016

   $ (17.9   $ (92.6   $ (103.4   $ (213.9
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) Income taxes are not provided for foreign currency translation adjustment.
(b) See Note 5 of the notes to condensed consolidated financial statements.
(c) These components are included in the computation of net periodic pension cost. See Note 9 of the notes to condensed consolidated financial statements.
XML 35 R23.htm IDEA: XBRL DOCUMENT v3.4.0.3
Segment Information (Tables)
3 Months Ended
Mar. 31, 2016
Net Sales Based on the Location of External Customers by Geographic Region

Net sales based on the location of external customers by geographic region are:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

United States

   $ 625.4       $ 574.1   

Europe

     104.3         106.4   

Japan

     34.6         41.0   

Other

     109.2         98.2   
  

 

 

    

 

 

 
   $ 873.5       $ 819.7   
  

 

 

    

 

 

 
Total Net Sales by Product Group Category

Total net sales by product group category are:

 

     Three Months Ended
March 31,
 
     2016      2015  
(dollars in millions)              

Vascular

   $ 239.5       $ 231.9   

Urology

     216.7         205.6   

Oncology

     241.9         224.6   

Surgical Specialties

     151.4         135.9   

Other

     24.0         21.7   
  

 

 

    

 

 

 
   $ 873.5       $ 819.7   
  

 

 

    

 

 

 
XML 36 R24.htm IDEA: XBRL DOCUMENT v3.4.0.3
Acquisitions - Additional Information (Detail) - USD ($)
$ in Millions
Jan. 21, 2016
Dec. 03, 2015
Liberator Medical Holdings, Inc.    
Business Acquisitions and Dispositions [Line Items]    
Percentage of outstanding stock acquired 100.00%  
Business acquisition, purchase consideration cash payment $ 181.1  
Purchase price allocation at fair value, recognition of deferred tax liabilities 31.6  
Business Combination, recognized identifiable assets acquired and liabilities assumed, other net assets and liabilities 11.9  
Purchase price allocation at fair value, goodwill 121.8  
Embo Medical Limited    
Business Acquisitions and Dispositions [Line Items]    
Percentage of outstanding stock acquired   100.00%
Business acquisition, purchase consideration cash payment   $ 21.0
Business Combination, recognized identifiable assets acquired and liabilities assumed, other net assets and liabilities   (2.9)
Purchase price allocation at fair value, goodwill   4.4
Business acquisition, maximum contingent consideration   22.5
Business combination, contingent consideration, liability   16.6
Customer relationships | Liberator Medical Holdings, Inc.    
Business Acquisitions and Dispositions [Line Items]    
Purchase price allocation at fair value, recognition of finite-lived intangible asset $ 53.0  
Customer relationships | Weighted Average | Liberator Medical Holdings, Inc.    
Business Acquisitions and Dispositions [Line Items]    
Estimated useful lives, years 12 years  
Other Intangible Assets | Liberator Medical Holdings, Inc.    
Business Acquisitions and Dispositions [Line Items]    
Purchase price allocation at fair value, recognition of finite-lived intangible asset $ 26.0  
Other Intangible Assets | Weighted Average | Liberator Medical Holdings, Inc.    
Business Acquisitions and Dispositions [Line Items]    
Estimated useful lives, years 8 years  
In-Process Research And Development | Embo Medical Limited    
Business Acquisitions and Dispositions [Line Items]    
Purchase price allocation at fair value, recognition of indefinite-lived intangible asset   $ 36.1
Risk-adjusted discount rate   17.50%
XML 37 R25.htm IDEA: XBRL DOCUMENT v3.4.0.3
Earnings Per Share Computation (Detail) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]    
Net income $ 116.2 $ 139.8
Less: Income allocated to participating securities 0.6 2.1
Net income available to common shareholders $ 115.6 $ 137.7
Weighted average common shares outstanding 74.0 74.4
Dilutive common share equivalents from share-based compensation plans 1.2 1.4
Weighted average common and common equivalent shares outstanding, assuming dilution 75.2 75.8
XML 38 R26.htm IDEA: XBRL DOCUMENT v3.4.0.3
Income Taxes - Additional Information (Detail) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Dec. 31, 2015
Income Tax [Line Items]      
Effective income tax rate 18.70% 24.30%  
Unrecognized tax benefits related to federal, state and foreign taxes $ 23.3   $ 22.3
Unrecognized tax benefits that would impact effective tax rate 19.7    
Accrued interest 3.1   $ 2.8
Decrease in unrecognized tax benefits within the next 12 months $ 8.3    
Number of months unrecognized tax benefits may decrease 12 months    
XML 39 R27.htm IDEA: XBRL DOCUMENT v3.4.0.3
Financial Instruments - Additional Information (Detail)
3 Months Ended
Mar. 31, 2016
USD ($)
Country
Jan. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Five Year Credit Facility Expiring In November 2020      
Derivative [Line Items]      
Line of credit facility, borrowing capacity $ 1,000,000,000    
Line of credit facility, expiration date 2020-11    
Line of credit facility, term, in years 5 years    
Commercial Paper      
Derivative [Line Items]      
Commercial paper borrowings outstanding $ 525,600,000   $ 0
National Healthcare Systems and Private Sector Customers      
Derivative [Line Items]      
Accounts receivable, net 49,600,000    
Accounts receivable greater than 365 days past due $ 4,700,000    
The number of countries in Europe in which certain collection risks exist | Country 4    
Medicon Inc | Other Long-term Liabilities      
Derivative [Line Items]      
Liability for non-continent future payments for business combinations $ 54,100,000   50,300,000
Fair Value, Inputs, Level 2      
Derivative [Line Items]      
Fair value of long-term debt including current maturities and the effects of the related interest rate swap contract 1,227,000,000   1,449,800,000
Fair Value, Inputs, Level 2 | Medicon Inc      
Derivative [Line Items]      
Liability for non-continent future payments for business combinations 70,900,000   66,000,000
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring      
Derivative [Line Items]      
Fair value of contingent consideration 22,800,000   11,200,000
Foreign Exchange Contract      
Derivative [Line Items]      
Notional value of derivative contracts $ 205,400,000   $ 191,600,000
Interest rate swap contract      
Derivative [Line Items]      
Notional value of derivative contracts   $ 250,000,000  
Fixed-rate notes interest percentage   2.875%  
Fixed-rate notes due date 2016-01    
Forward Starting Interest Rate Swaps      
Derivative [Line Items]      
Notional value of derivative contracts $ 250,000,000    
Derivative termination date 2016-05    
XML 40 R28.htm IDEA: XBRL DOCUMENT v3.4.0.3
Location and Fair Value of Derivative Instruments Designated as Hedging Instruments (Detail) - Derivatives Designated as Hedging Instruments - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets $ 3.0 $ 6.9
Fair value of derivative liability 26.5 14.2
Forward currency contracts | Other Current Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 1.2 2.9
Forward currency contracts | Other Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 0.1 0.0
Forward currency contracts | Accrued Expenses    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability 4.0 6.2
Option currency contracts | Other Current Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 1.7 3.8
Interest rate swap contract | Other Current Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative assets 0.0 0.2
Interest rate swap contract | Accrued Expenses    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability $ 22.5 $ 8.0
XML 41 R29.htm IDEA: XBRL DOCUMENT v3.4.0.3
Location and Amounts of Gains and Losses on Derivative Instruments Designated as Cash Flow Hedges (Detail) - Cash flow hedges - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]    
Gain/(Loss) Recognized in Other Comprehensive Income (Loss) $ (17.0) $ 1.2
Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (0.6) 1.9
Forward currency contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain/(Loss) Recognized in Other Comprehensive Income (Loss) (0.8) 0.1
Forward currency contracts | Cost of Goods Sold    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (2.4) 0.8
Option currency contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain/(Loss) Recognized in Other Comprehensive Income (Loss) (1.7) 9.0
Option currency contracts | Cost of Goods Sold    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Income 1.8 1.1
Interest rate swap contract    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain/(Loss) Recognized in Other Comprehensive Income (Loss) (14.5) (7.9)
Interest rate swap contract | Interest Expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Income $ 0.0 $ 0.0
XML 42 R30.htm IDEA: XBRL DOCUMENT v3.4.0.3
Financial Instrument Assets and (Liabilities) Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - Fair Value, Inputs, Level 2 - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Forward currency contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Financial instrument assets and (liabilities) measured at fair value $ (2.7) $ (3.3)
Option currency contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Financial instrument assets and (liabilities) measured at fair value 1.7 3.8
Interest rate swap contract    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Financial instrument assets and (liabilities) measured at fair value $ (22.5) $ (7.8)
XML 43 R31.htm IDEA: XBRL DOCUMENT v3.4.0.3
Inventories (Detail) - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Inventory [Line Items]    
Finished goods $ 259.8 $ 252.3
Work in process 30.1 23.8
Raw materials 149.8 137.6
Inventory, net, total $ 439.7 $ 413.7
XML 44 R32.htm IDEA: XBRL DOCUMENT v3.4.0.3
Contingencies - Additional Information (Detail)
$ in Millions
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended 51 Months Ended
Mar. 31, 2016
USD ($)
LegalMatter
Plaintiff
Claim
Subsidiary
Apr. 30, 2015
LegalMatter
Apr. 30, 2014
LegalMatter
Jul. 31, 2013
USD ($)
Jul. 31, 2012
USD ($)
Jun. 30, 2007
LegalMatter
Mar. 31, 2016
USD ($)
LegalMatter
Sep. 30, 2015
USD ($)
LegalMatter
Jun. 30, 2015
USD ($)
LegalMatter
Jun. 30, 2014
USD ($)
Jun. 30, 2013
LegalMatter
Mar. 31, 2016
USD ($)
LegalMatter
Dec. 31, 2015
USD ($)
LegalMatter
Dec. 31, 2014
LegalMatter
Mar. 31, 2016
USD ($)
LegalMatter
Jul. 31, 2014
LegalMatter
Jan. 16, 2014
LegalMatter
Commitments and Contingencies [Line Items]                                  
Product claims, charges incurred after tax | $             $ 31.0 $ 228.0 $ 325.0 $ 238.0              
Accruals for product liability and other legal matters | $ $ 1,167.1           1,167.1         $ 1,167.1 $ 1,174.3   $ 1,167.1    
Payments to qualified settlement fund | $             182.5               569.7    
Payments to qualified claimants from qualified settlement funds | $             52.3               361.0    
Other payments to qualified claimants from qualified settlement funds | $             1.2               63.7    
Minimum                                  
Commitments and Contingencies [Line Items]                                  
Proceedings that could be material to the company However, one or more of the proceedings could be material to the company's business and/or results of operations.                                
Cases that could be settled at any time These discussions could result in settlements of one or more of these claims at any time.                                
Accrued Expenses                                  
Commitments and Contingencies [Line Items]                                  
Accruals for product liability and other legal matters, accrued expenses | $ $ 429.9           429.9         429.9 516.5   429.9    
Receivables Related to Product Liability Matters                                  
Commitments and Contingencies [Line Items]                                  
Receivables related to product liability matters | $ 164.2           164.2         164.2 132.8   164.2    
Receivables Related to Product Liability Matters | Other Assets                                  
Commitments and Contingencies [Line Items]                                  
Receivables related to product liability matters, noncurrent | $ $ 163.6           163.6         $ 163.6 $ 132.1   $ 163.6    
Other (income) expense, net                                  
Commitments and Contingencies [Line Items]                                  
Product claims, charges incurred before taxes | $             $ 49.0 $ 241.0 $ 337.0 $ 259.0              
Hernia Product Claims                                  
Commitments and Contingencies [Line Items]                                  
Number of individual plaintiffs | Plaintiff 100                                
Period for additional product claims trials 12 months                                
Hernia Product Claims | United States                                  
Commitments and Contingencies [Line Items]                                  
Number of putative class actions 1                                
Hernia Product Claims | Canada                                  
Commitments and Contingencies [Line Items]                                  
Number of putative class actions settled     3                            
Hernia Product Claims | Federal Law Claims                                  
Commitments and Contingencies [Line Items]                                  
Number of lawsuits 40           40         40     40    
Hernia Product Claims | State Law Claims                                  
Commitments and Contingencies [Line Items]                                  
Number of lawsuits 60           60         60     60    
Hernia Product Claims | State Law Claims | Superior Court of State of Rhode Island                                  
Commitments and Contingencies [Line Items]                                  
Number of lawsuits 40           40         40     40    
Number of individual plaintiffs | Plaintiff 40                                
Number of multidistrict litigations           1                      
Women's Health Product Claims                                  
Commitments and Contingencies [Line Items]                                  
Number of individual plaintiffs | Plaintiff 12,875                                
Period for additional product claims trials 12 months                                
Number of claims in settlement agreement 6,845                       6,285 560      
Generic complaints | Claim 660                                
Number of claims not yet filed 1,070                                
The number of claims subject to an agreement or an agreement in principle               3,030 2,880                
Women's Health Product Claims | Minimum                                  
Commitments and Contingencies [Line Items]                                  
Number of additional trials In addition, one or more possible consolidated trials may occur in the future.                                
Women's Health Product Claims | California state case                                  
Commitments and Contingencies [Line Items]                                  
U. S. District Court award for plaintiff's damages | $         $ 3.6                        
Women's Health Product Claims | United States                                  
Commitments and Contingencies [Line Items]                                  
Number of putative class actions 5                                
Women's Health Product Claims | Canada                                  
Commitments and Contingencies [Line Items]                                  
Number of putative class actions 5                                
Class actions settled In March 2016, the company reached an agreement in principle to resolve all Canadian putative class actions, with the exception of a Quebec class action, within amounts previously recorded by the company.                                
Women's Health Product Claims | Medtronic                                  
Commitments and Contingencies [Line Items]                                  
Total payments made for settlement of indemnification obligation | $                       $ 121.0          
Women's Health Product Claims | Medtronic                                  
Commitments and Contingencies [Line Items]                                  
Number of subsidiaries of a parent company that have an obligation to indemnify | Subsidiary 2                                
Women's Health Product Claims | Multi District Litigation                                  
Commitments and Contingencies [Line Items]                                  
U. S. District Court award for plaintiff's damages | $       $ 2.0                          
Number of individual case for trial                               300 200
Women's Health Product Claims | Ontario Superior Court of Justice | Canada                                  
Commitments and Contingencies [Line Items]                                  
Number of putative class actions with class certifications dismissed   1                              
Filter Product Claims                                  
Commitments and Contingencies [Line Items]                                  
Number of individual plaintiffs | Plaintiff 375                                
Number of multidistrict litigations 1                                
Period for additional product claims trials 12 months                                
Number of claims not yet filed 75                                
Filter Product Claims | Multi District Litigation                                  
Commitments and Contingencies [Line Items]                                  
Number of lawsuits 345           345         345     345    
Filter Product Claims | State Law Claims                                  
Commitments and Contingencies [Line Items]                                  
Number of lawsuits 30           30         30     30    
Filter Product Claims | State Law Claims | Minimum                                  
Commitments and Contingencies [Line Items]                                  
Number of claims in settlement agreement                     30            
XML 45 R33.htm IDEA: XBRL DOCUMENT v3.4.0.3
Share-Based Compensation Plans - Additional Information (Detail)
$ in Millions
3 Months Ended
Mar. 31, 2016
USD ($)
CompensationPlan
shares
Mar. 31, 2015
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Number of employee stock purchase programs | CompensationPlan 2  
Share-based payment arrangements | $ $ 26.2 $ 23.0
Unrecognized compensation expenses related to share-based payment arrangements | $ $ 128.0  
Weighted-average period of recognizing unrecognized compensation expenses related to share-based compensation, in years 3 years  
Performance Restricted Stock Units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Fair value assumptions, risk-free interest rate 0.83% 0.86%
Fair value assumptions, dividend yield 0.52% 0.51%
Fair value assumptions, expected life in years 2 years 10 months 21 days 2 years 9 months 11 days
Awards requisite service period 3 years 3 years
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award These units have requisite service periods of three years and have no dividend rights.  
Period over which the company's performance is evaluated 3 years  
2012 Long Term Incentive Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Number of remaining shares that may be issued | shares 4,602,734  
Directors Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Number of remaining shares that may be issued | shares 26,102  
XML 46 R34.htm IDEA: XBRL DOCUMENT v3.4.0.3
Components of Net Periodic Pension Cost (Detail) - Pension Plans, Defined Benefit - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]    
Service cost, net of employee contributions $ 7.3 $ 7.5
Interest cost 4.7 5.0
Expected return on plan assets (8.1) (7.8)
Amortization 2.6 2.9
Net periodic pension cost $ 6.5 $ 7.6
XML 47 R35.htm IDEA: XBRL DOCUMENT v3.4.0.3
Pension Plans - Additional Information (Detail)
$ in Millions
3 Months Ended
Mar. 31, 2016
USD ($)
Change in Assumptions for Pension Plans  
Defined Benefit Plan Disclosure [Line Items]  
Net Pension Periodic Cost $ 1.3
XML 48 R36.htm IDEA: XBRL DOCUMENT v3.4.0.3
Shareholders' Investment - Additional Information (Detail)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2016
USD ($)
shares
Shareholders Equity [Line Items]  
Number of shares of common stock purchased | shares 0.9
Purchase of common stock | $ $ 167.4
XML 49 R37.htm IDEA: XBRL DOCUMENT v3.4.0.3
Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning balance $ (208.0) $ (88.8)
Other comprehensive income (loss) before reclassifications (14.3) (53.5)
Tax (provision) benefit [1] 5.5 1.3
Other comprehensive income (loss) before reclassifications, net of taxes (8.8) (52.2)
Reclassifications 3.2 1.0
Tax provision (benefit) (0.3) (0.5)
Reclassifications, net of tax 2.9 0.5
Other comprehensive income (loss) (5.9) (51.7)
Ending balance (213.9) (140.5)
Derivative Instruments Designated as Cash Flow Hedges    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning balance (8.7) 0.9
Other comprehensive income (loss) before reclassifications (15.9) 0.2
Tax (provision) benefit [1] 5.5 1.3
Other comprehensive income (loss) before reclassifications, net of taxes (10.4) 1.5
Reclassifications [2] 0.6 (1.9)
Tax provision (benefit) 0.6 0.5
Reclassifications, net of tax 1.2 (1.4)
Other comprehensive income (loss) (9.2) 0.1
Ending balance (17.9) 1.0
Foreign Currency Translation    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning balance (94.2) (3.1)
Other comprehensive income (loss) before reclassifications 1.6 (53.7)
Tax (provision) benefit [1] 0.0 0.0
Other comprehensive income (loss) before reclassifications, net of taxes 1.6 (53.7)
Reclassifications 0.0 0.0
Tax provision (benefit) 0.0 0.0
Reclassifications, net of tax 0.0 0.0
Other comprehensive income (loss) 1.6 (53.7)
Ending balance (92.6) (56.8)
Benefit Plans    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Beginning balance (105.1) (86.6)
Other comprehensive income (loss) before reclassifications 0.0 0.0
Tax (provision) benefit [1] 0.0 0.0
Other comprehensive income (loss) before reclassifications, net of taxes 0.0 0.0
Reclassifications [3] 2.6 2.9
Tax provision (benefit) (0.9) (1.0)
Reclassifications, net of tax 1.7 1.9
Other comprehensive income (loss) 1.7 1.9
Ending balance $ (103.4) $ (84.7)
[1] Income taxes are not provided for foreign currency translation adjustment.
[2] See Note 5 of the notes to condensed consolidated financial statements.
[3] These components are included in the computation of net periodic pension cost. See Note 9 of the notes to condensed consolidated financial statements.
XML 50 R38.htm IDEA: XBRL DOCUMENT v3.4.0.3
Net Sales Based on Location of External Customer and Identifiable Assets by Geographic Region (Detail) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Segment Reporting Information [Line Items]    
Net sales $ 873.5 $ 819.7
United States    
Segment Reporting Information [Line Items]    
Net sales 625.4 574.1
Europe    
Segment Reporting Information [Line Items]    
Net sales 104.3 106.4
Japan    
Segment Reporting Information [Line Items]    
Net sales 34.6 41.0
Other    
Segment Reporting Information [Line Items]    
Net sales $ 109.2 $ 98.2
XML 51 R39.htm IDEA: XBRL DOCUMENT v3.4.0.3
Total Net Sales by Product Group Category (Detail) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Segment Reporting Information [Line Items]    
Net sales $ 873.5 $ 819.7
Vascular    
Segment Reporting Information [Line Items]    
Net sales 239.5 231.9
Urology    
Segment Reporting Information [Line Items]    
Net sales 216.7 205.6
Oncology    
Segment Reporting Information [Line Items]    
Net sales 241.9 224.6
Surgical Specialties    
Segment Reporting Information [Line Items]    
Net sales 151.4 135.9
Other Product Group    
Segment Reporting Information [Line Items]    
Net sales $ 24.0 $ 21.7
EXCEL 52 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 56 FilingSummary.xml IDEA: XBRL DOCUMENT 3.4.0.3 html 153 215 1 true 61 0 false 10 false false R1.htm 101 - Document - Document and Entity Information Sheet http://www.crbard.com/taxonomy/role/DocumentandEntityInformation Document and Entity Information Cover 1 false false R2.htm 103 - Statement - Condensed Consolidated Statements of Income Sheet http://www.crbard.com/taxonomy/role/StatementOfIncomeAlternative Condensed Consolidated Statements of Income Statements 2 false false R3.htm 104 - Statement - Condensed Consolidated Statements of Comprehensive Income Sheet http://www.crbard.com/taxonomy/role/StatementOfOtherComprehensiveIncome Condensed Consolidated Statements of Comprehensive Income Statements 3 false false R4.htm 105 - Statement - Condensed Consolidated Balance Sheets Sheet http://www.crbard.com/taxonomy/role/StatementOfFinancialPositionClassified Condensed Consolidated Balance Sheets Statements 4 false false R5.htm 106 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Sheet http://www.crbard.com/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical Condensed Consolidated Balance Sheets (Parenthetical) Statements 5 false false R6.htm 107 - Statement - Condensed Consolidated Statements of Cash Flows Sheet http://www.crbard.com/taxonomy/role/StatementOfCashFlowsIndirect Condensed Consolidated Statements of Cash Flows Statements 6 false false R7.htm 108 - Disclosure - Basis of Presentation Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsOrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock Basis of Presentation Notes 7 false false R8.htm 109 - Disclosure - Acquisitions Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsBusinessCombinationDisclosureTextBlock Acquisitions Notes 8 false false R9.htm 110 - Disclosure - Earnings per Common Share Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlock Earnings per Common Share Notes 9 false false R10.htm 111 - Disclosure - Income Taxes Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock Income Taxes Notes 10 false false R11.htm 112 - Disclosure - Financial Instruments Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsFinancialInstrumentsDisclosureTextBlock Financial Instruments Notes 11 false false R12.htm 113 - Disclosure - Inventories Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock Inventories Notes 12 false false R13.htm 114 - Disclosure - Contingencies Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock Contingencies Notes 13 false false R14.htm 115 - Disclosure - Share-Based Compensation Plans Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock Share-Based Compensation Plans Notes 14 false false R15.htm 116 - Disclosure - Pension Plans Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsPensionAndOtherPostretirementBenefitsDisclosureTextBlock Pension Plans Notes 15 false false R16.htm 117 - Disclosure - Shareholders' Investment Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsShareholdersEquityAndShareBasedPaymentsTextBlock Shareholders' Investment Notes 16 false false R17.htm 118 - Disclosure - Segment Information Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock Segment Information Notes 17 false false R18.htm 119 - Disclosure - Earnings per Common Share (Tables) Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlockTables Earnings per Common Share (Tables) Tables http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlock 18 false false R19.htm 120 - Disclosure - Financial Instruments (Tables) Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsFinancialInstrumentsDisclosureTextBlockTables Financial Instruments (Tables) Tables http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsFinancialInstrumentsDisclosureTextBlock 19 false false R20.htm 121 - Disclosure - Inventories (Tables) Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlockTables Inventories (Tables) Tables http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock 20 false false R21.htm 122 - Disclosure - Pension Plans (Tables) Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsPensionAndOtherPostretirementBenefitsDisclosureTextBlockTables Pension Plans (Tables) Tables http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsPensionAndOtherPostretirementBenefitsDisclosureTextBlock 21 false false R22.htm 123 - Disclosure - Shareholders' Investment (Tables) Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsShareholdersEquityAndShareBasedPaymentsTextBlockTables Shareholders' Investment (Tables) Tables http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsShareholdersEquityAndShareBasedPaymentsTextBlock 22 false false R23.htm 124 - Disclosure - Segment Information (Tables) Sheet http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlockTables Segment Information (Tables) Tables http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock 23 false false R24.htm 125 - Disclosure - Acquisitions - Additional Information (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureAcquisitionsAdditionalInformation Acquisitions - Additional Information (Detail) Details 24 false false R25.htm 126 - Disclosure - Earnings Per Share Computation (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureEarningsPerShareComputation Earnings Per Share Computation (Detail) Details 25 false false R26.htm 127 - Disclosure - Income Taxes - Additional Information (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureIncomeTaxesAdditionalInformation Income Taxes - Additional Information (Detail) Details 26 false false R27.htm 128 - Disclosure - Financial Instruments - Additional Information (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureFinancialInstrumentsAdditionalInformation Financial Instruments - Additional Information (Detail) Details 27 false false R28.htm 129 - Disclosure - Location and Fair Value of Derivative Instruments Designated as Hedging Instruments (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureLocationAndFairValueOfDerivativeInstrumentsDesignatedAsHedgingInstruments Location and Fair Value of Derivative Instruments Designated as Hedging Instruments (Detail) Details 28 false false R29.htm 130 - Disclosure - Location and Amounts of Gains and Losses on Derivative Instruments Designated as Cash Flow Hedges (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureLocationAndAmountsOfGainsAndLossesOnDerivativeInstrumentsDesignatedAsCashFlowHedges Location and Amounts of Gains and Losses on Derivative Instruments Designated as Cash Flow Hedges (Detail) Details 29 false false R30.htm 131 - Disclosure - Financial Instrument Assets and (Liabilities) Measured at Fair Value on Recurring Basis (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureFinancialInstrumentAssetsAndLiabilitiesMeasuredAtFairValueOnRecurringBasis Financial Instrument Assets and (Liabilities) Measured at Fair Value on Recurring Basis (Detail) Details 30 false false R31.htm 132 - Disclosure - Inventories (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureInventories Inventories (Detail) Details http://www.crbard.com/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlockTables 31 false false R32.htm 133 - Disclosure - Contingencies - Additional Information (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureContingenciesAdditionalInformation Contingencies - Additional Information (Detail) Details 32 false false R33.htm 134 - Disclosure - Share-Based Compensation Plans - Additional Information (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureShareBasedCompensationPlansAdditionalInformation Share-Based Compensation Plans - Additional Information (Detail) Details 33 false false R34.htm 135 - Disclosure - Components of Net Periodic Pension Cost (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureComponentsOfNetPeriodicPensionCost Components of Net Periodic Pension Cost (Detail) Details 34 false false R35.htm 136 - Disclosure - Pension Plans - Additional Information (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosurePensionPlansAdditionalInformation Pension Plans - Additional Information (Detail) Details 35 false false R36.htm 137 - Disclosure - Shareholders' Investment - Additional Information (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureShareholdersInvestmentAdditionalInformation Shareholders' Investment - Additional Information (Detail) Details 36 false false R37.htm 138 - Disclosure - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureChangesInAccumulatedOtherComprehensiveIncomeLossByComponent Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) Details 37 false false R38.htm 139 - Disclosure - Net Sales Based on Location of External Customer and Identifiable Assets by Geographic Region (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureNetSalesBasedOnLocationOfExternalCustomerAndIdentifiableAssetsByGeographicRegion Net Sales Based on Location of External Customer and Identifiable Assets by Geographic Region (Detail) Details 38 false false R39.htm 140 - Disclosure - Total Net Sales by Product Group Category (Detail) Sheet http://www.crbard.com/taxonomy/role/DisclosureTotalNetSalesByProductGroupCategory Total Net Sales by Product Group Category (Detail) Details 39 false false All Reports Book All Reports bcr-20160331.xml bcr-20160331.xsd bcr-20160331_cal.xml bcr-20160331_def.xml bcr-20160331_lab.xml bcr-20160331_pre.xml true true ZIP 58 0001193125-16-561444-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001193125-16-561444-xbrl.zip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