| Supplemental Guarantor and Parent Company Condensed Financial Information |
Supplemental Guarantor and Parent Company Condensed Financial Information General Cable Corporation (“Parent Company”) and its U.S. 100% owned subsidiaries (“Guarantor Subsidiaries”) fully and unconditionally guarantee the $600.0 million of 5.75% Senior Notes due in 2022, the $355.0 million of 0.875% Convertible Notes due in 2013, and the $125.0 million of Senior Floating Rate Notes due in 2015 of the Parent Company on a joint and several basis. As previously reported in December 2012, the Canadian Subsidiaries became Non-Guarantor Subsidiaries due to amendments of the Revolving Credit Facility; this effectively changed the Guarantor structure under the terms of the notes described above. The three and six months ended June 29, 2012 Condensed Statements of Operations and Comprehensive Income (Loss) Information and the six months ended June 29, 2012 Condensed Statements of Cash Flow Information were recast in previously reported financial statements, to reflect the removal of the Canadian subsidiaries as guarantor subsidiaries. The Canadian subsidiaries are now reflected as non-guarantor subsidiaries. The following tables present financial information about the Parent Company, Guarantor Subsidiaries and Non-Guarantor Subsidiaries in millions. Intercompany transactions are eliminated in the "Eliminations" column of the Supplemental Guarantor and Parent Company Condensed Financial Information tables. As previously reported, on October 29, 2012, the Company announced that it had identified historical accounting errors relating to inventory. The Company also identified additional errors related to foreign currency adjustments between the Company's U.S. and Canadian subsidiaries and within the Company's Mexican subsidiary. As a result, the Company restated its previously issued consolidated financial statements and the quarterly operating results (unaudited), included in its Amendment No. 1 to the Company's 2011 Annual Report on Form 10-K/A, and the previously issued condensed consolidated financial statements included in its Amendment No. 1 to the Company's Quarterly Reports on Form 10-Q/A for the quarterly periods ended March 30, 2012 and June 29, 2012 filed on March 1, 2013. This Quarterly Report on Form 10-Q for the quarterly period ended June 28, 2013 includes the restated Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) Information for the three and six months ended June 29, 2012 and the restated Condensed Consolidated Statement of Cash Flows Information for the six months ended June 29, 2012. The restatement of previously issued condensed consolidated financial statements is referred to as “Restatement No. 1”. In remediating the material weaknesses associated with Restatement No. 1 the Company identified (1) an error in its historical revenue recognition accounting practices with regard to bill and hold sales in Brazil related to aerial transmission projects, (2) an error in the recoverability of certain recorded VAT asset amounts in Brazil and (3) various other errors which were determined to be individually immaterial. The Company has corrected these errors in the restated consolidated financial statements included in the 2012 Amended Annual Report on Form 10-K/A and the condensed consolidated financial statements in Amendment No. 2 to the Company's Amended Quarterly Report on Form 10-Q/A for the quarterly period ended June 29, 2012, filed on January 21, 2014. (“Restatement #2”). The following Supplemental Guarantor and Parent Company Condensed Financial Information has been restated and recast for the effects of Restatement #1, the effects of the removal of the Canadian subsidiaries as guarantor subsidiaries and the effects of Restatement #2, which are each reflected in separate tables. The effects of Restatement No. 1 and the effects of Restatement No. 2 are further described in Note 23 - Restatement of Condensed Consolidated Financial Statements. The Condensed Statements of Operations and Comprehensive Income (Loss) Information for the three and six months ended June 29, 2012 and the Condensed Statement of Cash Flow Information for the six months ended June 29, 2012 presented in the "As Originally Filed" tables correspond to Form 10-Q for the three and six months ended June 29, 2012 filed by the Company on August 3, 2012. As of December 31, 2012 the Condensed Balance Sheet Information presented in the "As Originally Filed" table corresponds to Form 10-K for the fiscal year ended December 31, 2012 filed by the Company on March 1, 2013. Before consideration of the Parent Company's and Guarantor Subsidiaries' proportionate share of their respective equity adjustments for net income (loss) applicable to Company common shareholders and other comprehensive income (loss), each of the errors described above and in further detail in Note 23 impact the condensed financial information of the Non-Guarantor Subsidiaries and has been reflected in the "Effect of Restatement #1" and "Effect of Restatement #2" tables. In the tables below, the effect of Restatement No. 2 on the Condensed Statements of Operations and Comprehensive Income (Loss) information for the Parent Company and Guarantor Subsidiaries for the three and six months ended June 29, 2012, which were reported in amended financial statements for the corresponding periods on January 21, 2014, have been reported in there respective "Effect of Restatement #2" tables to reflect the portion of its subsidiaries' equity in earnings of other comprehensive income (loss), including the appropriate adjustment to eliminations.
Condensed Statements of Operations and Comprehensive Income (Loss) Information Three Fiscal Months Ended June 28, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | 584.9 |
| | $ | 1,074.2 |
| | $ | — |
| | $ | 1,659.1 |
| Intercompany | 15.7 |
| | 70.9 |
| | 72.2 |
| | (158.8 | ) | | — |
| | 15.7 |
| | 655.8 |
| | 1,146.4 |
| | (158.8 | ) | | 1,659.1 |
| Cost of sales | — |
| | 572.9 |
| | 1,036.5 |
| | (143.1 | ) | | 1,466.3 |
| Gross profit | 15.7 |
| | 82.9 |
| | 109.9 |
| | (15.7 | ) | | 192.8 |
| Selling, general and administrative expenses | 12.7 |
| | 49.6 |
| | 75.4 |
| | (15.7 | ) | | 122.0 |
| Operating income | 3.0 |
| | 33.3 |
| | 34.5 |
| | — |
| | 70.8 |
| Other income (expense) | — |
| | (5.7 | ) | | (9.9 | ) | | — |
| | (15.6 | ) | Interest income (expense): | | | | | | | | | | Interest expense | (21.4 | ) | | (28.1 | ) | | (11.7 | ) | | 30.6 |
| | (30.6 | ) | Interest income | 26.7 |
| | 3.9 |
| | 1.5 |
| | (30.6 | ) | | 1.5 |
| | 5.3 |
| | (24.2 | ) | | (10.2 | ) | | — |
| | (29.1 | ) | Income (loss) before income taxes | 8.3 |
| | 3.4 |
| | 14.4 |
| | — |
| | 26.1 |
| Income tax (provision) benefit | (3.1 | ) | | (6.5 | ) | | (7.9 | ) | | — |
| | (17.5 | ) | Equity in net earnings of affiliated companies and subsidiaries | 3.1 |
| | 6.2 |
| | 0.2 |
| | (9.1 | ) | | 0.4 |
| Net income (loss) including non-controlling interest | 8.3 |
| | 3.1 |
| | 6.7 |
| | (9.1 | ) | | 9.0 |
| Less: preferred stock dividends | 0.1 |
| | — |
| | — |
| | — |
| | 0.1 |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | 0.7 |
| | — |
| | 0.7 |
| Net income (loss) attributable to Company common shareholders | $ | 8.2 |
| | $ | 3.1 |
| | $ | 6.0 |
| | $ | (9.1 | ) | | $ | 8.2 |
| Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | 8.3 |
| | $ | 3.1 |
| | $ | 6.7 |
| | $ | (9.1 | ) | | $ | 9.0 |
| Currency translation gain (loss) | (32.0 | ) | | (32.0 | ) | | (46.0 | ) | | 70.3 |
| | (39.7 | ) | Defined benefit plan adjustments, net of tax | 0.6 |
| | 0.6 |
| | 0.6 |
| | (1.1 | ) | | 0.7 |
| Change in fair value of derivatives, net of tax | 0.8 |
| | 0.8 |
| | — |
| | (0.9 | ) | | 0.7 |
| Comprehensive income (loss), net of tax | (22.3 | ) | | (27.5 | ) | | (38.7 | ) | | 59.2 |
| | (29.3 | ) | Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | (7.0 | ) | | — |
| | (7.0 | ) | Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | (22.3 | ) | | $ | (27.5 | ) | | $ | (31.7 | ) | | $ | 59.2 |
| | $ | (22.3 | ) |
Condensed Statements of Operations and Comprehensive Income (Loss) Information Six Fiscal Months Ended June 28, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | 1,195.1 |
| | $ | 2,007.7 |
| | $ | — |
| | $ | 3,202.8 |
| Intercompany | 29.5 |
| | 113.1 |
| | 175.6 |
| | (318.2 | ) | | — |
| | 29.5 |
| | 1,308.2 |
| | 2,183.3 |
| | (318.2 | ) | | 3,202.8 |
| Cost of sales | — |
| | 1,147.3 |
| | 1,994.5 |
| | (288.7 | ) | | 2,853.1 |
| Gross profit | 29.5 |
| | 160.9 |
| | 188.8 |
| | (29.5 | ) | | 349.7 |
| Selling, general and administrative expenses | 23.6 |
| | 99.3 |
| | 152.7 |
| | (29.5 | ) | | 246.1 |
| Operating income | 5.9 |
| | 61.6 |
| | 36.1 |
| | — |
| | 103.6 |
| Other income (expense) | — |
| | (7.0 | ) | | (61.3 | ) | | — |
| | (68.3 | ) | Interest income (expense): | | | | | | | | | | Interest expense | (42.3 | ) | | (55.0 | ) | | (23.0 | ) | | 60.2 |
| | (60.1 | ) | Interest income | 52.6 |
| | 7.4 |
| | 3.2 |
| | (60.2 | ) | | 3.0 |
| | 10.3 |
| | (47.6 | ) | | (19.8 | ) | | — |
| | (57.1 | ) | Income (loss) before income taxes | 16.2 |
| | 7.0 |
| | (45.0 | ) | | — |
| | (21.8 | ) | Income tax (provision) benefit | (6.1 | ) | | (8.5 | ) | | 0.9 |
| | — |
| | (13.7 | ) | Equity in net earnings of affiliated companies and subsidiaries | (47.5 | ) | | (46.0 | ) | | 0.3 |
| | 93.8 |
| | 0.6 |
| Net income (loss) including non-controlling interest | (37.4 | ) | | (47.5 | ) | | (43.8 | ) | | 93.8 |
| | (34.9 | ) | Less: preferred stock dividends | 0.2 |
| | — |
| | — |
| | — |
| | 0.2 |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | 2.5 |
| | — |
| | 2.5 |
| Net income (loss) attributable to Company common shareholders | $ | (37.6 | ) | | $ | (47.5 | ) | | $ | (46.3 | ) | | $ | 93.8 |
| | $ | (37.6 | ) | Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | (37.4 | ) | | $ | (47.5 | ) | | $ | (43.8 | ) | | $ | 93.8 |
| | $ | (34.9 | ) | Currency translation gain (loss) | (36.2 | ) | | (36.2 | ) | | (40.3 | ) | | 69.4 |
| | (43.3 | ) | Defined benefit plan adjustments, net of tax | 3.3 |
| | 3.3 |
| | 0.9 |
| | (4.1 | ) | | 3.4 |
| Change in fair value of derivatives, net of tax | 0.2 |
| | 0.2 |
| | — |
| | (0.2 | ) | | 0.2 |
| Comprehensive income (loss), net of tax | (70.1 | ) | | (80.2 | ) | | (83.2 | ) | | 158.9 |
| | (74.6 | ) | Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | (4.5 | ) | | — |
| | (4.5 | ) | Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | (70.1 | ) | | $ | (80.2 | ) | | $ | (78.7 | ) | | $ | 158.9 |
| | $ | (70.1 | ) |
Condensed Statements of Operations and Comprehensive Income (Loss) Information Three Fiscal Months Ended June 29, 2012 - As Originally Filed | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | 535.5 |
| | $ | 942.6 |
| | $ | — |
| | $ | 1,478.1 |
| Intercompany | 21.6 |
| | — |
| | 11.5 |
| | (33.1 | ) | | — |
| | 21.6 |
| | 535.5 |
| | 954.1 |
| | (33.1 | ) | | 1,478.1 |
| Cost of sales | — |
| | 462.5 |
| | 850.1 |
| | (11.5 | ) | | 1,301.1 |
| Gross profit | 21.6 |
| | 73.0 |
| | 104.0 |
| | (21.6 | ) | | 177.0 |
| Selling, general and administrative expenses | 11.4 |
| | 40.4 |
| | 74.2 |
| | (21.6 | ) | | 104.4 |
| Operating income | 10.2 |
| | 32.6 |
| | 29.8 |
| | — |
| | 72.6 |
| Other income (expense) | — |
| | (1.2 | ) | | (12.3 | ) | | — |
| | (13.5 | ) | Interest income (expense): | | | | | | | | | | Interest expense | (16.1 | ) | | (22.8 | ) | | (11.6 | ) | | 25.3 |
| | (25.2 | ) | Interest income | 21.9 |
| | 3.1 |
| | 1.9 |
| | (25.3 | ) | | 1.6 |
| | 5.8 |
| | (19.7 | ) | | (9.7 | ) | | — |
| | (23.6 | ) | Income (loss) before income taxes | 16.0 |
| | 11.7 |
| | 7.8 |
| | — |
| | 35.5 |
| Income tax (provision) benefit | (5.6 | ) | | (3.7 | ) | | (2.7 | ) | | — |
| | (12.0 | ) | Equity in net earnings of affiliated companies and subsidiaries | 11.5 |
| | 3.5 |
| | — |
| | (14.5 | ) | | 0.5 |
| Net income (loss) including non-controlling interest | 21.9 |
| | 11.5 |
| | 5.1 |
| | (14.5 | ) | | 24.0 |
| Less: preferred stock dividends | 0.1 |
| | — |
| | — |
| | — |
| | 0.1 |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | 2.1 |
| | — |
| | 2.1 |
| Net income (loss) attributable to Company common shareholders | $ | 21.8 |
| | $ | 11.5 |
| | $ | 3.0 |
| | $ | (14.5 | ) | | $ | 21.8 |
| Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | 21.9 |
| | $ | 11.5 |
| | $ | 5.1 |
| | $ | (14.5 | ) | | $ | 24.0 |
| Currency translation gain (loss) | (0.5 | ) | | (5.4 | ) | | (58.3 | ) | | — |
| | (64.2 | ) | Defined benefit plan adjustments, net of tax | — |
| | — |
| | (2.1 | ) | | — |
| | (2.1 | ) | Change in fair value of derivatives, net of tax | — |
| | (1.2 | ) | | (2.2 | ) | | — |
| | (3.4 | ) | Comprehensive income (loss), net of tax | 21.4 |
| | 4.9 |
| | (57.5 | ) | | (14.5 | ) | | (45.7 | ) | Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | (0.7 | ) | | — |
| | (0.7 | ) | Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | 21.4 |
| | $ | 4.9 |
| | $ | (56.8 | ) | | $ | (14.5 | ) | | $ | (45.0 | ) |
Condensed Statements of Operations and Comprehensive Income (Loss) Information Three Fiscal Months Ended June 29, 2012 - Effect of Restatement #1 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Intercompany | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Cost of sales | — |
| | — |
| | 3.5 |
| | — |
| | 3.5 |
| Gross profit | — |
| | — |
| | (3.5 | ) | | — |
| | (3.5 | ) | Selling, general and administrative expenses | — |
| | — |
| | — |
| | — |
| | — |
| Operating income | — |
| | — |
| | (3.5 | ) | | — |
| | (3.5 | ) | Other income (expense) | — |
| | — |
| | — |
| | — |
| | — |
| Interest income (expense): | | | | | | | | | | Interest expense | — |
| | — |
| | — |
| | — |
| | — |
| Interest income | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Income (loss) before income taxes | — |
| | — |
| | (3.5 | ) | | — |
| | (3.5 | ) | Income tax (provision) benefit | — |
| | — |
| | 0.5 |
| | — |
| | 0.5 |
| Equity in net earnings of affiliated companies and subsidiaries | (3.0 | ) | | (3.0 | ) | | — |
| | 6.0 |
| | — |
| Net income (loss) including non-controlling interest | (3.0 | ) | | (3.0 | ) | | (3.0 | ) | | 6.0 |
| | (3.0 | ) | Less: preferred stock dividends | — |
| | — |
| | — |
| | — |
| | — |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | — |
| | — |
| | — |
| Net income (loss) attributable to Company common shareholders | $ | (3.0 | ) | | $ | (3.0 | ) | | $ | (3.0 | ) | | $ | 6.0 |
| | $ | (3.0 | ) | Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | (3.0 | ) | | $ | (3.0 | ) | | $ | (3.0 | ) | | $ | 6.0 |
| | $ | (3.0 | ) | Currency translation gain (loss) | — |
| | — |
| | 4.1 |
| | — |
| | 4.1 |
| Defined benefit plan adjustments, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Change in fair value of derivatives, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income (loss), net of tax | (3.0 | ) | | (3.0 | ) | | 1.1 |
| | 6.0 |
| | 1.1 |
| Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | (3.0 | ) | | $ | (3.0 | ) | | $ | 1.1 |
| | $ | 6.0 |
| | $ | 1.1 |
|
Condensed Statements of Operations and Comprehensive Income (Loss) Information Three Fiscal Months Ended June 29, 2012 - Effect of Recast | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | (51.6 | ) | | $ | 51.6 |
| | $ | — |
| | $ | — |
| Intercompany | — |
| | 32.8 |
| | 43.8 |
| | (76.6 | ) | | — |
| | — |
| | (18.8 | ) | | 95.4 |
| | (76.6 | ) | | — |
| Cost of sales | — |
| | (15.1 | ) | | 91.7 |
| | (76.6 | ) | | — |
| Gross profit | — |
| | (3.7 | ) | | 3.7 |
| | — |
| | — |
| Selling, general and administrative expenses | — |
| | (2.8 | ) | | 2.8 |
| | — |
| | — |
| Operating income | — |
| | (0.9 | ) | | 0.9 |
| | — |
| | — |
| Other income (expense) | — |
| | 0.7 |
| | (0.7 | ) | | — |
| | — |
| Interest income (expense): | | | | | | | | | | Interest expense | — |
| | 0.2 |
| | (0.9 | ) | | 0.7 |
| | — |
| Interest income | — |
| | 0.7 |
| | — |
| | (0.7 | ) | | — |
| | — |
| | 0.9 |
| | (0.9 | ) | | — |
| | — |
| Income (loss) before income taxes | — |
| | 0.7 |
| | (0.7 | ) | | — |
| | — |
| Income tax (provision) benefit | — |
| | (0.2 | ) | | 0.2 |
| | — |
| | — |
| Equity in net earnings of affiliated companies and subsidiaries | — |
| | (0.5 | ) | | 0.4 |
| | 0.1 |
| | — |
| Net income (loss) including non-controlling interest | — |
| | — |
| | (0.1 | ) | | 0.1 |
| | — |
| Less: preferred stock dividends | — |
| | — |
| | — |
| | — |
| | — |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | — |
| | — |
| | — |
| Net income (loss) attributable to Company common shareholders | $ | — |
| | $ | — |
| | $ | (0.1 | ) | | $ | 0.1 |
| | $ | — |
| Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | — |
| | $ | — |
| | $ | (0.1 | ) | | $ | 0.1 |
| | $ | — |
| Currency translation gain (loss) | — |
| | (8.8 | ) | | 8.8 |
| | — |
| | — |
| Defined benefit plan adjustments, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Change in fair value of derivatives, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income (loss), net of tax | — |
| | (8.8 | ) | | 8.7 |
| | 0.1 |
| | — |
| Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | — |
| | $ | (8.8 | ) | | $ | 8.7 |
| | $ | 0.1 |
| | $ | — |
|
Condensed Statements of Operations and Comprehensive Income (Loss) Information Three Fiscal Months Ended June 29, 2012 - Effect of Restatement #2 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | — |
| | $ | (2.9 | ) | | $ | — |
| | $ | (2.9 | ) | Intercompany | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (2.9 | ) | | — |
| | (2.9 | ) | Cost of sales | — |
| | — |
| | (3.1 | ) | | — |
| | (3.1 | ) | Gross profit | — |
| | — |
| | 0.2 |
| | — |
| | 0.2 |
| Selling, general and administrative expenses | — |
| | — |
| | 1.7 |
| | — |
| | 1.7 |
| Operating income | — |
| | — |
| | (1.5 | ) | | — |
| | (1.5 | ) | Other income (expense) | — |
| | — |
| | — |
| | — |
| | — |
| Interest income (expense): | | | | | | | | | | Interest expense | — |
| | — |
| | — |
| | — |
| | — |
| Interest income | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Income (loss) before income taxes | — |
| | — |
| | (1.5 | ) | | — |
| | (1.5 | ) | Income tax (provision) benefit | — |
| | — |
| | 0.3 |
| | — |
| | 0.3 |
| Equity in net earnings of affiliated companies and subsidiaries | (1.1 | ) | | (1.1 | ) | | — |
| | 2.2 |
| | — |
| Net income (loss) including non-controlling interest | (1.1 | ) | | (1.1 | ) | | (1.2 | ) | | 2.2 |
| | (1.2 | ) | Less: preferred stock dividends | — |
| | — |
| | — |
| | — |
| | — |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | (0.1 | ) | | — |
| | (0.1 | ) | Net income (loss) attributable to Company common shareholders | $ | (1.1 | ) | | $ | (1.1 | ) | | $ | (1.1 | ) | | $ | 2.2 |
| | $ | (1.1 | ) | Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | (1.1 | ) | | $ | (1.1 | ) | | $ | (1.2 | ) | | $ | 2.2 |
| | $ | (1.2 | ) | Currency translation gain (loss) | (55.1 | ) | | (40.9 | ) | | 1.6 |
| | 96.0 |
| | 1.6 |
| Defined benefit plan adjustments, net of tax | (2.2 | ) | | (2.2 | ) | | — |
| | 4.4 |
| | — |
| Change in fair value of derivatives, net of tax | (3.4 | ) | | (2.2 | ) | | — |
| | 5.6 |
| | — |
| Comprehensive income (loss), net of tax | (61.8 | ) | | (46.4 | ) | | 0.4 |
| | 108.2 |
| | 0.4 |
| Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | (0.1 | ) | | — |
| | (0.1 | ) | Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | (61.8 | ) | | $ | (46.4 | ) | | $ | 0.5 |
| | $ | 108.2 |
| | $ | 0.5 |
|
Condensed Statements of Operations and Comprehensive Income (Loss) Information Three Fiscal Months Ended June 29, 2012 - As Restated and Recast | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | 483.9 |
| | $ | 991.3 |
| | $ | — |
| | $ | 1,475.2 |
| Intercompany | 21.6 |
| | 32.8 |
| | 55.3 |
| | (109.7 | ) | | — |
| | 21.6 |
| | 516.7 |
| | 1,046.6 |
| | (109.7 | ) | | 1,475.2 |
| Cost of sales | — |
| | 447.4 |
| | 942.2 |
| | (88.1 | ) | | 1,301.5 |
| Gross profit | 21.6 |
| | 69.3 |
| | 104.4 |
| | (21.6 | ) | | 173.7 |
| Selling, general and administrative expenses | 11.4 |
| | 37.6 |
| | 78.7 |
| | (21.6 | ) | | 106.1 |
| Operating income | 10.2 |
| | 31.7 |
| | 25.7 |
| | — |
| | 67.6 |
| Other income (expense) | — |
| | (0.5 | ) | | (13.0 | ) | | — |
| | (13.5 | ) | Interest income (expense): | | | | | | | | | | Interest expense | (16.1 | ) | | (22.6 | ) | | (12.5 | ) | | 26.0 |
| | (25.2 | ) | Interest income | 21.9 |
| | 3.8 |
| | 1.9 |
| | (26.0 | ) | | 1.6 |
| | 5.8 |
| | (18.8 | ) | | (10.6 | ) | | — |
| | (23.6 | ) | Income (loss) before income taxes | 16.0 |
| | 12.4 |
| | 2.1 |
| | — |
| | 30.5 |
| Income tax (provision) benefit | (5.6 | ) | | (3.9 | ) | | (1.7 | ) | | — |
| | (11.2 | ) | Equity in net earnings of affiliated companies and subsidiaries | 7.4 |
| | (1.1 | ) | | 0.4 |
| | (6.2 | ) | | 0.5 |
| Net income (loss) including non-controlling interest | 17.8 |
| | 7.4 |
| | 0.8 |
| | (6.2 | ) | | 19.8 |
| Less: preferred stock dividends | 0.1 |
| | — |
| | — |
| | — |
| | 0.1 |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | 2.0 |
| | — |
| | 2.0 |
| Net income (loss) attributable to Company common shareholders | $ | 17.7 |
| | $ | 7.4 |
| | $ | (1.2 | ) | | $ | (6.2 | ) | | $ | 17.7 |
| Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | 17.8 |
| | $ | 7.4 |
| | $ | 0.8 |
| | $ | (6.2 | ) | | $ | 19.8 |
| Currency translation gain (loss) | (55.6 | ) | | (55.1 | ) | | (43.8 | ) | | 96.0 |
| | (58.5 | ) | Defined benefit plan adjustments, net of tax | (2.2 | ) | | (2.2 | ) | | (2.1 | ) | | 4.4 |
| | (2.1 | ) | Change in fair value of derivatives, net of tax | (3.4 | ) | | (3.4 | ) | | (2.2 | ) | | 5.6 |
| | (3.4 | ) | Comprehensive income (loss), net of tax | (43.4 | ) | | (53.3 | ) | | (47.3 | ) | | 99.8 |
| | (44.2 | ) | Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | (0.8 | ) | | — |
| | (0.8 | ) | Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | (43.4 | ) | | $ | (53.3 | ) | | $ | (46.5 | ) | | $ | 99.8 |
| | $ | (43.4 | ) |
Condensed Statements of Operations and Comprehensive Income (Loss) Information Six Fiscal Months Ended June 29, 2012 - As Originally Filed | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | 1,066.8 |
| | $ | 1,843.8 |
| | $ | — |
| | $ | 2,910.6 |
| Intercompany | 28.9 |
| | — |
| | 23.1 |
| | (52.0 | ) | | — |
| | 28.9 |
| | 1,066.8 |
| | 1,866.9 |
| | (52.0 | ) | | 2,910.6 |
| Cost of sales | — |
| | 928.3 |
| | 1,681.2 |
| | (23.1 | ) | | 2,586.4 |
| Gross profit | 28.9 |
| | 138.5 |
| | 185.7 |
| | (28.9 | ) | | 324.2 |
| Selling, general and administrative expenses | 23.1 |
| | 71.6 |
| | 132.4 |
| | (28.9 | ) | | 198.2 |
| Operating income | 5.8 |
| | 66.9 |
| | 53.3 |
| | — |
| | 126.0 |
| Other income (expense) | — |
| | (0.8 | ) | | (5.9 | ) | | — |
| | (6.7 | ) | Interest income (expense): | | | | | | | | | | Interest expense | (31.9 | ) | | (45.9 | ) | | (22.8 | ) | | 50.7 |
| | (49.9 | ) | Interest income | 43.9 |
| | 6.3 |
| | 3.8 |
| | (50.7 | ) | | 3.3 |
| | 12.0 |
| | (39.6 | ) | | (19.0 | ) | | — |
| | (46.6 | ) | Income (loss) before income taxes | 17.8 |
| | 26.5 |
| | 28.4 |
| | — |
| | 72.7 |
| Income tax (provision) benefit | (6.4 | ) | | (10.9 | ) | | (5.6 | ) | | — |
| | (22.9 | ) | Equity in net earnings of affiliated companies and subsidiaries | 35.5 |
| | 19.9 |
| | — |
| | (54.9 | ) | | 0.5 |
| Net income (loss) including non-controlling interest | 46.9 |
| | 35.5 |
| | 22.8 |
| | (54.9 | ) | | 50.3 |
| Less: preferred stock dividends | 0.2 |
| | — |
| | — |
| | — |
| | 0.2 |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | 3.4 |
| | — |
| | 3.4 |
| Net income (loss) attributable to Company common shareholders | $ | 46.7 |
| | $ | 35.5 |
| | $ | 19.4 |
| | $ | (54.9 | ) | | $ | 46.7 |
| Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | 46.9 |
| | $ | 35.5 |
| | $ | 22.8 |
| | $ | (54.9 | ) | | $ | 50.3 |
| Currency translation gain (loss) | 0.2 |
| | (6.1 | ) | | (14.2 | ) | | — |
| | (20.1 | ) | Defined benefit plan adjustments, net of tax | — |
| | — |
| | (2.1 | ) | | — |
| | (2.1 | ) | Change in fair value of derivatives, net of tax | — |
| | 1.3 |
| | 1.3 |
| | — |
| | 2.6 |
| Comprehensive income (loss), net of tax | 47.1 |
| | 30.7 |
| | 7.8 |
| | (54.9 | ) | | 30.7 |
| Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | 3.7 |
| | — |
| | 3.7 |
| Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | 47.1 |
| | $ | 30.7 |
| | $ | 4.1 |
| | $ | (54.9 | ) | | $ | 27.0 |
|
Condensed Statements of Operations and Comprehensive Income (Loss) Information Six Fiscal Months Ended June 29, 2012 - Effect of Restatement #1 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Intercompany | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Cost of sales | — |
| | — |
| | 6.2 |
| | — |
| | 6.2 |
| Gross profit | — |
| | — |
| | (6.2 | ) | | — |
| | (6.2 | ) | Selling, general and administrative expenses | — |
| | — |
| | — |
| | — |
| | — |
| Operating income | — |
| | — |
| | (6.2 | ) | | — |
| | (6.2 | ) | Other income (expense) | — |
| | — |
| | — |
| | — |
| | — |
| Interest income (expense): | | | | | | | | | | Interest expense | — |
| | — |
| | — |
| | — |
| | — |
| Interest income | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Income (loss) before income taxes | — |
| | — |
| | (6.2 | ) | | — |
| | (6.2 | ) | Income tax (provision) benefit | — |
| | — |
| | 1.0 |
| | — |
| | 1.0 |
| Equity in net earnings of affiliated companies and subsidiaries | (5.2 | ) | | (5.2 | ) | | — |
| | 10.4 |
| | — |
| Net income (loss) including non-controlling interest | (5.2 | ) | | (5.2 | ) | | (5.2 | ) | | 10.4 |
| | (5.2 | ) | Less: preferred stock dividends | — |
| | — |
| | — |
| | — |
| | — |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | — |
| | — |
| | — |
| Net income (loss) attributable to Company common shareholders | $ | (5.2 | ) | | $ | (5.2 | ) | | $ | (5.2 | ) | | $ | 10.4 |
| | $ | (5.2 | ) | Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | (5.2 | ) | | $ | (5.2 | ) | | $ | (5.2 | ) | | $ | 10.4 |
| | $ | (5.2 | ) | Currency translation gain (loss) | — |
| | — |
| | 2.3 |
| | — |
| | 2.3 |
| Defined benefit plan adjustments, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Change in fair value of derivatives, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income (loss), net of tax | (5.2 | ) | | (5.2 | ) | | (2.9 | ) | | 10.4 |
| | (2.9 | ) | Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | (5.2 | ) | | $ | (5.2 | ) | | $ | (2.9 | ) | | $ | 10.4 |
| | $ | (2.9 | ) |
Condensed Statements of Operations and Comprehensive Income (Loss) Information Six Fiscal Months Ended June 29, 2012 - Effect of Recast | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | (109.8 | ) | | $ | 109.8 |
| | $ | — |
| | $ | — |
| Intercompany | — |
| | 61.2 |
| | 80.8 |
| | (142.0 | ) | | — |
| | — |
| | (48.6 | ) | | 190.6 |
| | (142.0 | ) | | — |
| Cost of sales | — |
| | (41.7 | ) | | 183.7 |
| | (142.0 | ) | | — |
| Gross profit | — |
| | (6.9 | ) | | 6.9 |
| | — |
| | — |
| Selling, general and administrative expenses | — |
| | (6.0 | ) | | 6.0 |
| | — |
| | — |
| Operating income | — |
| | (0.9 | ) | | 0.9 |
| | — |
| | — |
| Other income (expense) | — |
| | 0.1 |
| | (0.1 | ) | | — |
| | — |
| Interest income (expense): | | | | | | | | | | Interest expense | — |
| | 0.2 |
| | (1.6 | ) | | 1.4 |
| | — |
| Interest income | — |
| | 1.4 |
| | — |
| | (1.4 | ) | | — |
| | — |
| | 1.6 |
| | (1.6 | ) | | — |
| | — |
| Income (loss) before income taxes | — |
| | 0.8 |
| | (0.8 | ) | | — |
| | — |
| Income tax (provision) benefit | — |
| | (0.2 | ) | | 0.2 |
| | — |
| | — |
| Equity in net earnings of affiliated companies and subsidiaries | — |
| | (0.6 | ) | | 0.4 |
| | 0.2 |
| | — |
| Net income (loss) including non-controlling interest | — |
| | — |
| | (0.2 | ) | | 0.2 |
| | — |
| Less: preferred stock dividends | — |
| | — |
| | — |
| | — |
| | — |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | — |
| | — |
| | — |
| Net income (loss) attributable to Company common shareholders | $ | — |
| | $ | — |
| | $ | (0.2 | ) | | $ | 0.2 |
| | $ | — |
| Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | — |
| | $ | — |
| | $ | (0.2 | ) | | $ | 0.2 |
| | $ | — |
| Currency translation gain (loss) | — |
| | (0.7 | ) | | 0.7 |
| | — |
| | — |
| Defined benefit plan adjustments, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Change in fair value of derivatives, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income (loss), net of tax | — |
| | (0.7 | ) | | 0.5 |
| | 0.2 |
| | — |
| Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | — |
| | $ | (0.7 | ) | | $ | 0.5 |
| | $ | 0.2 |
| | $ | — |
|
Condensed Statements of Operations and Comprehensive Income (Loss) Information Six Fiscal Months Ended June 29, 2012 - Effect of Restatement #2 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | — |
| | $ | 14.1 |
| | $ | — |
| | $ | 14.1 |
| Intercompany | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 14.1 |
| | — |
| | 14.1 |
| Cost of sales | — |
| | — |
| | 9.3 |
| | — |
| | 9.3 |
| Gross profit | — |
| | — |
| | 4.8 |
| | — |
| | 4.8 |
| Selling, general and administrative expenses | — |
| | — |
| | 2.7 |
| | — |
| | 2.7 |
| Operating income | — |
| | — |
| | 2.1 |
| | — |
| | 2.1 |
| Other income (expense) | — |
| | — |
| | — |
| | — |
| | — |
| Interest income (expense): | | | | | | | | | | Interest expense | — |
| | — |
| | — |
| | — |
| | — |
| Interest income | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Income (loss) before income taxes | — |
| | — |
| | 2.1 |
| | — |
| | 2.1 |
| Income tax (provision) benefit | — |
| | — |
| | (1.1 | ) | | — |
| | (1.1 | ) | Equity in net earnings of affiliated companies and subsidiaries | 1.1 |
| | 1.1 |
| | — |
| | (2.2 | ) | | — |
| Net income (loss) including non-controlling interest | 1.1 |
| | 1.1 |
| | 1.0 |
| | (2.2 | ) | | 1.0 |
| Less: preferred stock dividends | — |
| | — |
| | — |
| | — |
| | — |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | (0.1 | ) | | — |
| | (0.1 | ) | Net income (loss) attributable to Company common shareholders | $ | 1.1 |
| | $ | 1.1 |
| | $ | 1.1 |
| | $ | (2.2 | ) | | $ | 1.1 |
| Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | 1.1 |
| | $ | 1.1 |
| | $ | 1.0 |
| | $ | (2.2 | ) | | $ | 1.0 |
| Currency translation gain (loss) | (17.2 | ) | | (10.4 | ) | | 1.0 |
| | 27.6 |
| | 1.0 |
| Defined benefit plan adjustments, net of tax | (2.1 | ) | | (2.1 | ) | | — |
| | 4.2 |
| | — |
| Change in fair value of derivatives, net of tax | 2.5 |
| | 1.2 |
| | — |
| | (3.7 | ) | | — |
| Comprehensive income (loss), net of tax | (15.7 | ) | | (10.2 | ) | | 2.0 |
| | 25.9 |
| | 2.0 |
| Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | (0.1 | ) | | — |
| | (0.1 | ) | Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | (15.7 | ) | | $ | (10.2 | ) | | $ | 2.1 |
| | $ | 25.9 |
| | $ | 2.1 |
|
Condensed Statements of Operations and Comprehensive Income (Loss) Information Six Fiscal Months Ended June 29, 2012 - As Restated and Recast | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net sales: | | | | | | | | | | Customers | $ | — |
| | $ | 957.0 |
| | $ | 1,967.7 |
| | $ | — |
| | $ | 2,924.7 |
| Intercompany | 28.9 |
| | 61.2 |
| | 103.9 |
| | (194.0 | ) | | — |
| | 28.9 |
| | 1,018.2 |
| | 2,071.6 |
| | (194.0 | ) | | 2,924.7 |
| Cost of sales | — |
| | 886.6 |
| | 1,880.4 |
| | (165.1 | ) | | 2,601.9 |
| Gross profit | 28.9 |
| | 131.6 |
| | 191.2 |
| | (28.9 | ) | | 322.8 |
| Selling, general and administrative expenses | 23.1 |
| | 65.6 |
| | 141.1 |
| | (28.9 | ) | | 200.9 |
| Operating income | 5.8 |
| | 66.0 |
| | 50.1 |
| | — |
| | 121.9 |
| Other income (expense) | — |
| | (0.7 | ) | | (6.0 | ) | | — |
| | (6.7 | ) | Interest income (expense): | | | | | | | | | | Interest expense | (31.9 | ) | | (45.7 | ) | | (24.4 | ) | | 52.1 |
| | (49.9 | ) | Interest income | 43.9 |
| | 7.7 |
| | 3.8 |
| | (52.1 | ) | | 3.3 |
| | 12.0 |
| | (38.0 | ) | | (20.6 | ) | | — |
| | (46.6 | ) | Income (loss) before income taxes | 17.8 |
| | 27.3 |
| | 23.5 |
| | — |
| | 68.6 |
| Income tax (provision) benefit | (6.4 | ) | | (11.1 | ) | | (5.5 | ) | | — |
| | (23.0 | ) | Equity in net earnings of affiliated companies and subsidiaries | 31.4 |
| | 15.2 |
| | 0.4 |
| | (46.5 | ) | | 0.5 |
| Net income (loss) including non-controlling interest | 42.8 |
| | 31.4 |
| | 18.4 |
| | (46.5 | ) | | 46.1 |
| Less: preferred stock dividends | 0.2 |
| | — |
| | — |
| | — |
| | 0.2 |
| Less: net income (loss) attributable to non-controlling interest | — |
| | — |
| | 3.3 |
| | — |
| | 3.3 |
| Net income (loss) attributable to Company common shareholders | $ | 42.6 |
| | $ | 31.4 |
| | $ | 15.1 |
| | $ | (46.5 | ) | | $ | 42.6 |
| Comprehensive income (loss): | | | | | | | | | | Net income (loss) | $ | 42.8 |
| | $ | 31.4 |
| | $ | 18.4 |
| | $ | (46.5 | ) | | $ | 46.1 |
| Currency translation gain (loss) | (17.0 | ) | | (17.2 | ) | | (10.2 | ) | | 27.6 |
| | (16.8 | ) | Defined benefit plan adjustments, net of tax | (2.1 | ) | | (2.1 | ) | | (2.1 | ) | | 4.2 |
| | (2.1 | ) | Change in fair value of derivatives, net of tax | 2.5 |
| | 2.5 |
| | 1.3 |
| | (3.7 | ) | | 2.6 |
| Comprehensive income (loss), net of tax | 26.2 |
| | 14.6 |
| | 7.4 |
| | (18.4 | ) | | 29.8 |
| Comprehensive income (loss) attributable to non-controlling interest, net of tax | — |
| | — |
| | 3.6 |
| | — |
| | 3.6 |
| Comprehensive income (loss) attributable to Company common shareholders interest, net of tax | $ | 26.2 |
| | $ | 14.6 |
| | $ | 3.8 |
| | $ | (18.4 | ) | | $ | 26.2 |
|
Condensed Balance Sheets Information June 28, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Assets | | | | | | | | | | Current assets: | | | | | | | | | | Cash and cash equivalents | $ | 0.1 |
| | $ | 27.0 |
| | $ | 416.7 |
| | $ | — |
| | $ | 443.8 |
| Receivables, net of allowances | — |
| | 310.0 |
| | 945.2 |
| | — |
| | 1,255.2 |
| Inventories, net | — |
| | 459.1 |
| | 868.1 |
| | — |
| | 1,327.2 |
| Deferred income taxes | — |
| | 23.0 |
| | 17.6 |
| | — |
| | 40.6 |
| Prepaid expenses and other | 2.1 |
| | 18.7 |
| | 111.4 |
| | — |
| | 132.2 |
| Total current assets | 2.2 |
| | 837.8 |
| | 2,359.0 |
| | — |
| | 3,199.0 |
| Property, plant and equipment, net | 0.4 |
| | 233.2 |
| | 895.8 |
| | — |
| | 1,129.4 |
| Deferred income taxes | — |
| | — |
| | 16.2 |
| | — |
| | 16.2 |
| Intercompany accounts | 1,640.8 |
| | 498.3 |
| | 14.5 |
| | (2,153.6 | ) | | — |
| Investment in subsidiaries | 1,006.5 |
| | 1,335.5 |
| | — |
| | (2,342.0 | ) | | — |
| Goodwill | — |
| | 13.8 |
| | 175.1 |
| | — |
| | 188.9 |
| Intangible assets, net | — |
| | 16.7 |
| | 176.2 |
| | — |
| | 192.9 |
| Unconsolidated affiliated companies | — |
| | 7.5 |
| | 11.2 |
| | — |
| | 18.7 |
| Other non-current assets | 14.6 |
| | 27.9 |
| | 22.4 |
| | — |
| | 64.9 |
| Total assets | $ | 2,664.5 |
| | $ | 2,970.7 |
| | $ | 3,670.4 |
| | $ | (4,495.6 | ) | | $ | 4,810.0 |
| Liabilities and Total Equity | | | | | | | | | | Current liabilities: | | | | | | | | | | Accounts payable | $ | — |
| | $ | 126.2 |
| | $ | 832.3 |
| | $ | — |
| | $ | 958.5 |
| Accrued liabilities | 11.8 |
| | 96.2 |
| | 340.0 |
| | — |
| | 448.0 |
| Current portion of long-term debt | 345.3 |
| | — |
| | 252.2 |
| |
|
| | 597.5 |
| Total current liabilities | 357.1 |
| | 222.4 |
| | 1,424.5 |
| | — |
| | 2,004.0 |
| Long-term debt | 901.2 |
| | 13.9 |
| | 32.9 |
| | — |
| | 948.0 |
| Deferred income taxes | 166.5 |
| | (31.4 | ) | | 80.2 |
| | — |
| | 215.3 |
| Intercompany accounts | 0.1 |
| | 1,653.2 |
| | 500.3 |
| | (2,153.6 | ) | | — |
| Other liabilities | 1.1 |
| | 106.1 |
| | 171.1 |
| | — |
| | 278.3 |
| Total liabilities | 1,426.0 |
| | 1,964.2 |
| | 2,209.0 |
| | (2,153.6 | ) | | 3,445.6 |
| Redeemable non-controlling interest | — |
| | — |
| | 17.1 |
| | — |
| | 17.1 |
| Total Company shareholders’ equity | 1,238.5 |
| | 1,006.5 |
| | 1,335.5 |
| | (2,342.0 | ) | | 1,238.5 |
| Non-controlling interest | — |
| | — |
| | 108.8 |
| | — |
| | 108.8 |
| Total liabilities and equity | $ | 2,664.5 |
| | $ | 2,970.7 |
| | $ | 3,670.4 |
| | $ | (4,495.6 | ) | | $ | 4,810.0 |
|
Condensed Balance Sheets Information December 31, 2012 - As Originally Filed | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Eliminations | | Total | Assets | | | | | | | | | | Current assets: | | | | | | | | | | Cash | $ | 65.3 |
| | $ | 44.2 |
| | $ | 528.7 |
| | $ | — |
| | $ | 638.2 |
| Receivables, net of allowances | — |
| | 277.6 |
| | 912.1 |
| | — |
| | 1,189.7 |
| Inventories | — |
| | 460.0 |
| | 791.6 |
| | — |
| | 1,251.6 |
| Deferred income taxes | — |
| | 24.4 |
| | 14.7 |
| | — |
| | 39.1 |
| Prepaid expenses and other | 2.3 |
| | 20.9 |
| | 92.8 |
| | — |
| | 116.0 |
| Total current assets | 67.6 |
| | 827.1 |
| | 2,339.9 |
| | — |
| | 3,234.6 |
| Property, plant and equipment, net | 0.4 |
| | 238.2 |
| | 961.2 |
| | — |
| | 1,199.8 |
| Deferred income taxes | — |
| | — |
| | 12.8 |
| | — |
| | 12.8 |
| Intercompany accounts | 1,566.7 |
| | 491.0 |
| | 40.2 |
| | (2,097.9 | ) | | — |
| Investment in subsidiaries | 1,108.5 |
| | 1,390.4 |
| | — |
| | (2,498.9 | ) | | — |
| Goodwill | — |
| | 15.0 |
| | 169.4 |
| | — |
| | 184.4 |
| Intangible assets, net | — |
| | 17.7 |
| | 185.4 |
| | — |
| | 203.1 |
| Unconsolidated affiliated companies | — |
| | 7.3 |
| | 11.9 |
| | — |
| | 19.2 |
| Other non-current assets | 15.3 |
| | 26.4 |
| | 24.3 |
| | — |
| | 66.0 |
| Total assets | $ | 2,758.5 |
| | $ | 3,013.1 |
| | $ | 3,745.1 |
| | $ | (4,596.8 | ) | | $ | 4,919.9 |
| Liabilities and Total Equity | | | | | | | | | | Current liabilities: | | | | | | | | | | Accounts payable | $ | — |
| | $ | 103.8 |
| | $ | 899.2 |
| | $ | — |
| | $ | 1,003.0 |
| Accrued liabilities | 12.1 |
| | 110.6 |
| | 340.7 |
| | — |
| | 463.4 |
| Current portion of long-term debt | 334.6 |
| | — |
| | 176.6 |
| | — |
| | 511.2 |
| Total current liabilities | 346.7 |
| | 214.4 |
| | 1,416.5 |
| | — |
| | 1,977.6 |
| Long-term debt | 900.5 |
| | — |
| | 38.4 |
| | — |
| | 938.9 |
| Deferred income taxes | 156.9 |
| | (18.2 | ) | | 82.8 |
| | — |
| | 221.5 |
| Intercompany accounts | — |
| | 1,606.9 |
| | 491.0 |
| | (2,097.9 | ) | | — |
| Other liabilities | 1.1 |
| | 101.5 |
| | 190.0 |
| | — |
| | 292.6 |
| Total liabilities | 1,405.2 |
| | 1,904.6 |
| | 2,218.7 |
| | (2,097.9 | ) | | 3,430.6 |
| Redeemable non-controlling interest | — |
| | — |
| | 18.6 |
| | — |
| | 18.6 |
| Total Company shareholders’ equity | 1,353.3 |
| | 1,108.5 |
| | 1,390.4 |
| | (2,498.9 | ) | | 1,353.3 |
| Non-controlling interest | — |
| | — |
| | 117.4 |
| | — |
| | 117.4 |
| Total liabilities and equity | $ | 2,758.5 |
| | $ | 3,013.1 |
| | $ | 3,745.1 |
| | $ | (4,596.8 | ) | | $ | 4,919.9 |
|
Condensed Balance Sheets Information December 31, 2012 - Effect of Restatement #2 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Eliminations | | Total | Assets | | | | | | | | | | Current assets: | | | | | | | | | | Cash | $ | — |
| | $ | — |
| | $ | (15.9 | ) | | $ | — |
| | $ | (15.9 | ) | Receivables, net of allowances | — |
| | — |
| | (7.6 | ) | | — |
| | (7.6 | ) | Inventories | — |
| | — |
| | 22.0 |
| | — |
| | 22.0 |
| Deferred income taxes | — |
| | — |
| | 0.4 |
| | — |
| | 0.4 |
| Prepaid expenses and other | — |
| | — |
| | 17.0 |
| | — |
| | 17.0 |
| Total current assets | — |
| | — |
| | 15.9 |
| | — |
| | 15.9 |
| Property, plant and equipment, net | — |
| | — |
| | (5.9 | ) | | — |
| | (5.9 | ) | Deferred income taxes | — |
| | — |
| | — |
| | — |
| | — |
| Intercompany accounts | — |
| | — |
| | — |
| | — |
| | — |
| Investment in subsidiaries | (21.6 | ) | | (23.0 | ) | | — |
| | 44.6 |
| | — |
| Goodwill | — |
| | — |
| | 3.2 |
| | — |
| | 3.2 |
| Intangible assets, net | — |
| | — |
| | (0.2 | ) | | — |
| | (0.2 | ) | Unconsolidated affiliated companies | — |
| | — |
| | (0.3 | ) | | — |
| | (0.3 | ) | Other non-current assets | — |
| | — |
| | — |
| | — |
| | — |
| Total assets | $ | (21.6 | ) | | $ | (23.0 | ) | | $ | 12.7 |
| | $ | 44.6 |
| | $ | 12.7 |
| Liabilities and Total Equity | | | | | | | | | | Current liabilities: | | | | | | | | | | Accounts payable | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Accrued liabilities | — |
| | (1.5 | ) | | 34.2 |
| | — |
| | 32.7 |
| Current portion of long-term debt | — |
| | — |
| | — |
| | — |
| | — |
| Total current liabilities | — |
| | (1.5 | ) | | 34.2 |
| | — |
| | 32.7 |
| Long-term debt | — |
| | — |
| | — |
| | — |
| | — |
| Deferred income taxes | — |
| | — |
| | 2.4 |
| | — |
| | 2.4 |
| Intercompany accounts | — |
| | — |
| | — |
| | — |
| | — |
| Other liabilities | — |
| | 0.1 |
| | — |
| | — |
| | 0.1 |
| Total liabilities | — |
| | (1.4 | ) | | 36.6 |
| | — |
| | 35.2 |
| Redeemable non-controlling interest | — |
| | — |
| | — |
| | — |
| | — |
| Total Company shareholders’ equity | (21.6 | ) | | (21.6 | ) | | (23.0 | ) | | 44.6 |
| | (21.6 | ) | Non-controlling interest | — |
| | — |
| | (0.9 | ) | | — |
| | (0.9 | ) | Total liabilities and equity | $ | (21.6 | ) | | $ | (23.0 | ) | | $ | 12.7 |
| | $ | 44.6 |
| | $ | 12.7 |
|
Condensed Balance Sheets Information December 31, 2012 - As Restated | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Eliminations | | Total | Assets | | | | | | | | | | Current assets: | | | | | | | | | | Cash | $ | 65.3 |
| | $ | 44.2 |
| | $ | 512.8 |
| | $ | — |
| | $ | 622.3 |
| Receivables, net of allowances | — |
| | 277.6 |
| | 904.5 |
| | — |
| | 1,182.1 |
| Inventories | — |
| | 460.0 |
| | 813.6 |
| | — |
| | 1,273.6 |
| Deferred income taxes | — |
| | 24.4 |
| | 15.1 |
| | — |
| | 39.5 |
| Prepaid expenses and other | 2.3 |
| | 20.9 |
| | 109.8 |
| | — |
| | 133.0 |
| Total current assets | 67.6 |
| | 827.1 |
| | 2,355.8 |
| | — |
| | 3,250.5 |
| Property, plant and equipment, net | 0.4 |
| | 238.2 |
| | 955.3 |
| | — |
| | 1,193.9 |
| Deferred income taxes | — |
| | — |
| | 12.8 |
| | — |
| | 12.8 |
| Intercompany accounts | 1,566.7 |
| | 491.0 |
| | 40.2 |
| | (2,097.9 | ) | | — |
| Investment in subsidiaries | 1,086.9 |
| | 1,367.4 |
| | — |
| | (2,454.3 | ) | | — |
| Goodwill | — |
| | 15.0 |
| | 172.6 |
| | — |
| | 187.6 |
| Intangible assets, net | — |
| | 17.7 |
| | 185.2 |
| | — |
| | 202.9 |
| Unconsolidated affiliated companies | — |
| | 7.3 |
| | 11.6 |
| | — |
| | 18.9 |
| Other non-current assets | 15.3 |
| | 26.4 |
| | 24.3 |
| | — |
| | 66.0 |
| Total assets | $ | 2,736.9 |
| | $ | 2,990.1 |
| | $ | 3,757.8 |
| | $ | (4,552.2 | ) | | $ | 4,932.6 |
| Liabilities and Total Equity | | | | | | | | | | Current liabilities: | | | | | | | | | | Accounts payable | $ | — |
| | $ | 103.8 |
| | $ | 899.2 |
| | $ | — |
| | $ | 1,003.0 |
| Accrued liabilities | 12.1 |
| | 109.1 |
| | 374.9 |
| | — |
| | 496.1 |
| Current portion of long-term debt | 334.6 |
| | — |
| | 176.6 |
| | — |
| | 511.2 |
| Total current liabilities | 346.7 |
| | 212.9 |
| | 1,450.7 |
| | — |
| | 2,010.3 |
| Long-term debt | 900.5 |
| | — |
| | 38.4 |
| | — |
| | 938.9 |
| Deferred income taxes | 156.9 |
| | (18.2 | ) | | 85.2 |
| | — |
| | 223.9 |
| Intercompany accounts | — |
| | 1,606.9 |
| | 491.0 |
| | (2,097.9 | ) | | — |
| Other liabilities | 1.1 |
| | 101.6 |
| | 190.0 |
| | — |
| | 292.7 |
| Total liabilities | 1,405.2 |
| | 1,903.2 |
| | 2,255.3 |
| | (2,097.9 | ) | | 3,465.8 |
| Redeemable non-controlling interest | — |
| | — |
| | 18.6 |
| | — |
| | 18.6 |
| Total Company shareholders’ equity | 1,331.7 |
| | 1,086.9 |
| | 1,367.4 |
| | (2,454.3 | ) | | 1,331.7 |
| Non-controlling interest | — |
| | — |
| | 116.5 |
| | — |
| | 116.5 |
| Total liabilities and equity | $ | 2,736.9 |
| | $ | 2,990.1 |
| | $ | 3,757.8 |
| | $ | (4,552.2 | ) | | $ | 4,932.6 |
|
Condensed Statements of Cash Flows Information Six Fiscal Months Ended June 28, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net cash flows of operating activities | $ | 32.5 |
| | $ | (12.9 | ) | | $ | (187.3 | ) | | $ | — |
| | $ | (167.7 | ) | Cash flows of investing activities: | | | — |
| | | | | | | Capital expenditures | — |
| | (15.3 | ) | | (30.1 | ) | | — |
| | (45.4 | ) | Proceeds from properties sold | — |
| | 0.1 |
| | — |
| | — |
| | 0.1 |
| Acquisitions, net of cash acquired | — |
| | (2.3 | ) | | (4.6 | ) | | — |
| | (6.9 | ) | Other | — |
| | (24.1 | ) | | 24.2 |
| | — |
| | 0.1 |
| Net cash flows of investing activities | — |
| | (41.6 | ) | | (10.5 | ) | | — |
| | (52.1 | ) | Cash flows of financing activities: | | | | | | | | | | Dividends paid | (9.1 | ) | | — |
| | — |
| | — |
| | (9.1 | ) | Excess tax benefits from stock-based compensation | 0.1 |
| | — |
| | — |
| | — |
| | 0.1 |
| Intercompany accounts | (70.3 | ) | | 33.0 |
| | 37.3 |
| | — |
| | — |
| Proceeds from other debt | — |
| | 14.6 |
| | 597.2 |
| | — |
| | 611.8 |
| Repayments of other debt | — |
| | (0.8 | ) | | (513.1 | ) | | — |
| | (513.9 | ) | Issuance of long-term debt | — |
| |
|
| | — |
| | — |
| | — |
| Dividends paid to non-controlling interest | — |
| | — |
| | (3.2 | ) | | — |
| | (3.2 | ) | Purchase of treasury shares | (19.0 | ) | |
|
| |
|
| |
|
| | (19.0 | ) | Proceeds from exercise of stock options | 0.6 |
| | — |
| | — |
| | — |
| | 0.6 |
| Net cash flows of financing activities | (97.7 | ) | | 46.8 |
| | 118.2 |
| | — |
| | 67.3 |
| Effect of exchange rate changes on cash and cash equivalents | — |
| | (9.5 | ) | | (16.5 | ) | | — |
| | (26.0 | ) | Increase (decrease) in cash and cash equivalents | (65.2 | ) | | (17.2 | ) | | (96.1 | ) | | — |
| | (178.5 | ) | Cash and cash equivalents – beginning of period | 65.3 |
| | 44.2 |
| | 512.8 |
| | — |
| | 622.3 |
| Cash and cash equivalents – end of period | $ | 0.1 |
| | $ | 27.0 |
| | $ | 416.7 |
| | $ | — |
| | $ | 443.8 |
|
Condensed Statements of Cash Flows Information Six Fiscal Months Ended June 29, 2012 - As Originally Filed | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net cash flows of operating activities | $ | 33.1 |
| | $ | (42.6 | ) | | $ | (7.6 | ) | | $ | — |
| | $ | (17.1 | ) | Cash flows of investing activities: | | | | | — |
| | | | | Capital expenditures | — |
| | (12.1 | ) | | (51.8 | ) | | — |
| | (63.9 | ) | Proceeds from properties sold | — |
| | — |
| | 4.2 |
| | — |
| | 4.2 |
| Acquisitions, net of cash acquired | — |
| | — |
| | (7.3 | ) | | — |
| | (7.3 | ) | Other | — |
| | (13.6 | ) | | 13.5 |
| | — |
| | (0.1 | ) | Net cash flows of investing activities | — |
| | (25.7 | ) | | (41.4 | ) | | — |
| | (67.1 | ) | Cash flows of financing activities: | | | | | | | | | | Dividends paid | (0.2 | ) | | — |
| | — |
| | — |
| | (0.2 | ) | Excess tax benefits from stock-based compensation | 0.1 |
| | — |
| | — |
| | — |
| | 0.1 |
| Intercompany accounts | (33.2 | ) | | 44.5 |
| | (11.3 | ) | | — |
| | — |
| Proceeds from other debt | — |
| | 466.3 |
| | 411.5 |
| | — |
| | 877.8 |
| Repayments of other debt | — |
| | (439.9 | ) | | (350.9 | ) | | — |
| | (790.8 | ) | Dividends paid to non-controlling interests | — |
| | — |
| | (1.9 | ) | | — |
| | (1.9 | ) | Proceeds from exercise of stock options | 0.1 |
| | — |
| | — |
| | — |
| | 0.1 |
| Net cash flows of financing activities | (33.2 | ) | | 70.9 |
| | 47.4 |
| | — |
| | 85.1 |
| Effect of exchange rate changes on cash and cash equivalents | 0.1 |
| | (4.8 | ) | | 8.5 |
| | — |
| | 3.8 |
| Increase (decrease) in cash and cash equivalents | — |
| | (2.2 | ) | | 6.9 |
| | — |
| | 4.7 |
| Cash and cash equivalents - beginning of period | 0.1 |
| | 12.4 |
| | 421.6 |
| | — |
| | 434.1 |
| Cash and cash equivalents - end of period | $ | 0.1 |
| | $ | 10.2 |
| | $ | 428.5 |
| | $ | — |
| | $ | 438.8 |
|
Condensed Statements of Cash Flows Information Six Fiscal Months Ended June 29, 2012 - Effect of Recast | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net cash flows of operating activities | $ | — |
| | $ | (1.1 | ) | | $ | 1.1 |
| | $ | — |
| | $ | — |
| Cash flows of investing activities: | | | | | — |
| | | | | Capital expenditures | — |
| | 0.4 |
| | (0.4 | ) | | — |
| | — |
| Proceeds from properties sold | — |
| | — |
| | — |
| | — |
| | — |
| Acquisitions, net of cash acquired | — |
| | — |
| | — |
| | — |
| | — |
| Other | — |
| | — |
| | — |
| | — |
| | — |
| Net cash flows of investing activities | — |
| | 0.4 |
| | (0.4 | ) | | — |
| | — |
| Cash flows of financing activities: | | | | | | | | | | Dividends paid | — |
| | — |
| | — |
| | — |
| | — |
| Excess tax benefits from stock-based compensation | — |
| | — |
| | — |
| | — |
| | — |
| Intercompany accounts | — |
| | (1.7 | ) | | 1.7 |
| | — |
| | — |
| Proceeds from other debt | — |
| | — |
| | — |
| | — |
| | — |
| Repayments of other debt | — |
| | — |
| | — |
| | — |
| | — |
| Dividends paid to non-controlling interests | — |
| | — |
| | — |
| | — |
| | — |
| Proceeds from exercise of stock options | — |
| | — |
| | — |
| | — |
| | — |
| Net cash flows of financing activities | — |
| | (1.7 | ) | | 1.7 |
| | — |
| | — |
| Effect of exchange rate changes on cash and cash equivalents | — |
| | (0.2 | ) | | 0.2 |
| | — |
| | — |
| Increase (decrease) in cash and cash equivalents | — |
| | (2.6 | ) | | 2.6 |
| | — |
| | — |
| Cash and cash equivalents - beginning of period | — |
| | (3.9 | ) | | 3.9 |
| | — |
| | — |
| Cash and cash equivalents - end of period | $ | — |
| | $ | (6.5 | ) | | $ | 6.5 |
| | $ | — |
| | $ | — |
|
Condensed Statements of Cash Flows Information Six Fiscal Months Ended June 29, 2012 - Effect of Restatement #2 | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net cash flows of operating activities | $ | — |
| | $ | — |
| | $ | (0.2 | ) | | $ | — |
| | $ | (0.2 | ) | Cash flows of investing activities: | | | | | — |
| | | | | Capital expenditures | — |
| | — |
| | 0.2 |
| | — |
| | 0.2 |
| Proceeds from properties sold | — |
| | — |
| | — |
| | — |
| | — |
| Acquisitions, net of cash acquired | — |
| | — |
| | — |
| | — |
| | — |
| Other | — |
| | — |
| | — |
| | — |
| | — |
| Net cash flows of investing activities | — |
| | — |
| | 0.2 |
| | — |
| | 0.2 |
| Cash flows of financing activities: | | | | | | | | | | Dividends paid | — |
| | — |
| | — |
| | — |
| | — |
| Excess tax benefits from stock-based compensation | — |
| | — |
| | — |
| | — |
| | — |
| Intercompany accounts | — |
| | — |
| | — |
| | — |
| | — |
| Proceeds from other debt | — |
| | — |
| | — |
| | — |
| | — |
| Repayments of other debt | — |
| | — |
| | — |
| | — |
| | — |
| Dividends paid to non-controlling interests | — |
| | — |
| | — |
| | — |
| | — |
| Proceeds from exercise of stock options | — |
| | — |
| | — |
| | — |
| | — |
| Net cash flows of financing activities | — |
| | — |
| | — |
| | — |
| | — |
| Effect of exchange rate changes on cash and cash equivalents | — |
| | — |
| | — |
| | — |
| | — |
| Increase (decrease) in cash and cash equivalents | — |
| | — |
| | — |
| | — |
| | — |
| Cash and cash equivalents - beginning of period | — |
| | — |
| | — |
| | — |
| | — |
| Cash and cash equivalents - end of period | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
|
Condensed Statements of Cash Flows Information Six Fiscal Months Ended June 29, 2012 - As Restated and Recast | | | | | | | | | | | | | | | | | | | | | | Parent | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Total | Net cash flows of operating activities | $ | 33.1 |
| | $ | (43.7 | ) | | $ | (6.7 | ) | | $ | — |
| | $ | (17.3 | ) | Cash flows of investing activities: | | | | | | | | | | Capital expenditures | — |
| | (11.7 | ) | | (52.0 | ) | | — |
| | (63.7 | ) | Proceeds from properties sold | — |
| | — |
| | 4.2 |
| | — |
| | 4.2 |
| Acquisitions, net of cash acquired | — |
| | — |
| | (7.3 | ) | | — |
| | (7.3 | ) | Other | — |
| | (13.6 | ) | | 13.5 |
| | — |
| | (0.1 | ) | Net cash flows of investing activities | — |
| | (25.3 | ) | | (41.6 | ) | | — |
| | (66.9 | ) | Cash flows of financing activities: | | | | | | | | | | Dividends paid | (0.2 | ) | | — |
| | — |
| | — |
| | (0.2 | ) | Excess tax benefits from stock-based compensation | 0.1 |
| | — |
| | — |
| | — |
| | 0.1 |
| Intercompany accounts | (33.2 | ) | | 42.8 |
| | (9.6 | ) | | — |
| | — |
| Proceeds from other debt | — |
| | 466.3 |
| | 411.5 |
| | — |
| | 877.8 |
| Repayments of other debt | — |
| | (439.9 | ) | | (350.9 | ) | | — |
| | (790.8 | ) | Dividends paid to non-controlling interests | — |
| | — |
| | (1.9 | ) | | — |
| | (1.9 | ) | Proceeds from exercise of stock options | 0.1 |
| | — |
| | — |
| | — |
| | 0.1 |
| Net cash flows of financing activities | (33.2 | ) | | 69.2 |
| | 49.1 |
| | — |
| | 85.1 |
| Effect of exchange rate changes on cash and cash equivalents | 0.1 |
| | (5.0 | ) | | 8.7 |
| | — |
| | 3.8 |
| Increase (decrease) in cash and cash equivalents | — |
| | (4.8 | ) | | 9.5 |
| | — |
| | 4.7 |
| Cash and cash equivalents - beginning of period | 0.1 |
| | 8.5 |
| | 425.5 |
| | — |
| | 434.1 |
| Cash and cash equivalents - end of period | $ | 0.1 |
| | $ | 3.7 |
| | $ | 435.0 |
| | $ | — |
| | $ | 438.8 |
|
Notes to Parent Company Condensed Financial Information Basis of Presentation In accordance with the requirements of Regulation S-X of the Securities and Exchange Commission, restricted net assets of the Company’s subsidiaries exceeded 25% of the Company’s total consolidated net assets. The Company’s Spanish Term Loans include covenants that require its Spanish subsidiary to maintain minimum net assets of 197 million euros. This financial information is condensed and omits many disclosures presented in the Condensed Consolidated Financial Statements and Notes thereto. New Accounting Pronouncements The Company’s significant accounting policies are described in Note 2 to the audited annual consolidated financial statements in the Amended Annual 2012 Form 10-K/A. In the six months ended June 28, 2013, there have been no significant changes to these policies. In the six months ended June 28, 2013, there have been no accounting pronouncements issued that are expected to have a significant effect on the condensed consolidated financial statements. The following accounting pronouncements were adopted and became effective with respect to the Company in 2013 and 2012: In February 2013, the FASB issued Accounting Standards Update No. 2013-02 (“ASU 2013-02”), “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which amends ASC 220, “Comprehensive Income.” The amended guidance requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S GAAP to be reclassified in their entirety from accumulated other comprehensive income to net income in the same reporting period, an entity is required to cross-reference other disclosures required under GAAP that provide additional detail about those amounts. ASU 2013-02 is effective for interim and annual periods beginning after December 15, 2012. The Company has adopted the provisions of ASU 2013-02 as required. In December 2011, the FASB issued ASU No. 2011-11 ("ASU 2011-11), "Disclosures about Offsetting Assets and Liabilities." The amendments in this update require enhanced disclosures around financial instruments and derivative instruments that are either (1) offset in accordance with either ASC 210-20-45 or ASC 815-10-45 or (2) subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in accordance with either ASC 210-20-45 or ASC 815-10-45. The amendments are effective during interim and annual periods beginning on or after January 1, 2013. The Company has adopted the disclosure requirements of ASU 2011-11 as of January 1, 2013 and has included the disclosures required by those amendments retrospectively for all comparative periods presented in Note 10 - Financial Instruments of this quarterly report on Form 10-Q. Intercompany Activity The Parent Company and its Guarantor Subsidiaries participate in a cash pooling program. As part of this program, cash balances are generally swept on a daily basis between the Guarantor Subsidiaries’ bank accounts and those of the Parent Company. There are a significant number of the Company’s subsidiaries that participate in this cash pooling arrangement and there are thousands of transactions per week that occur between the Parent Company and Guarantor Subsidiaries, all of which are accounted for through the intercompany accounts.
Parent Company transactions include interest, dividend, tax payments and intercompany sales transactions related to administrative costs incurred by the Parent Company, which are billed to Guarantor Subsidiaries on a cost-plus basis. These costs are reported in the Parent’s “Selling, general and administrative expenses” on the Condensed Consolidated Statement of Operations for the respective period(s). All intercompany transactions are presumed to be settled in cash when they occur and are included in operating activities on the statement of cash flows. A summary of cash and non-cash transactions of the Parent Company’s intercompany account is provided below for the six fiscal months ended June 28, 2013 and the twelve months ended December 31, 2012: | | | | | | | | | (in millions) | June 28, 2013 | | December 31, 2012 | Beginning Balance | $ | 1,566.7 |
| | $ | 1,210.4 |
| Non-cash transactions | | | | Deferred tax | 3.5 |
| | 5.9 |
| Equity based awards | 4.9 |
| | 11.7 |
| Foreign currency and other | (4.7 | ) | | (3.4 | ) | Cash transactions | 70.3 |
| | 342.1 |
| Ending Balance | $ | 1,640.7 |
| | $ | 1,566.7 |
|
Dividends There were no cash dividend payments to the Parent Company from the Guarantor Subsidiaries in the six fiscal months ended June 28, 2013 or June 29, 2012. Parent Company Long-Term Debt At June 28, 2013 and December 31, 2012, the Parent Company was party to the following long-term financing arrangements: | | | | | | | | | (in millions) | June 28, 2013 | | December 31, 2012 | 5.75% Senior Notes due 2022 | $ | 600.0 |
| | $ | 600.0 |
| Subordinated Convertible Notes due 2029 | 429.5 |
| | 429.5 |
| Debt discount on Subordinated Convertible Notes due 2029 | (262.3 | ) | | (263.0 | ) | 0.875% Convertible Notes due 2013 | 355.0 |
| | 355.0 |
| Debt discount on 0.875% Convertible Notes due 2013 | (9.7 | ) | | (20.4 | ) | Senior Floating Rate Notes | 125.0 |
| | 125.0 |
| Other | 9.0 |
| | 9.0 |
| Total Parent Company debt | 1,246.5 |
| | 1,235.1 |
| Less current maturities | 345.3 |
| | 334.6 |
| Parent Company Long-term debt | $ | 901.2 |
| | $ | 900.5 |
|
| | | | | | | | | | | | | | | | | | | | | (in millions) | Q2 2014 | | Q2 2015 | | Q2 2016 | | Q2 2017 | | Q2 2018 | Debt maturities twelve month period ending | $ | 345.3 |
| | $ | 125.0 |
| | $ | — |
| | $ | — |
| | $ | — |
|
For long-term debt related to the Parent Company, refer to Footnote 9 "Long-Term Debt" of the Notes to the Condensed Consolidated Financial Statements. Commitments and Contingencies For contingencies and guarantees related to the Parent Company, refer to Note 19 "Commitments and Contingencies" of the Notes to the Condensed Consolidated Financial Statements. |