|
Basis of Presentation - Revision of Financial Statements (Details) (USD $) In Millions, unless otherwise specified
|
3 Months Ended |
9 Months Ended |
|
|
Mar. 31, 2015
|
Mar. 31, 2014
|
Mar. 31, 2015
|
Mar. 31, 2014
|
Jun. 30, 2014
|
| Condensed Combined Statements of Operations |
|
|
|
|
|
| Revenues |
$ 526.4 |
$ 501.1 |
$ 1,560.4 |
$ 1,470.9 |
|
| Cost of revenues |
321.8 |
304.9 |
956.6 |
900.5 |
|
| Selling, general and administrative expenses |
105.5 |
96.1 |
321.9 |
303.4 |
|
| Total expenses |
427.9 |
401.0 |
1,313.1 |
1,203.9 |
|
| Operating earnings |
98.5 |
100.1 |
247.3 |
267.0 |
|
| Other income, net |
1.8 |
0.6 |
4.7 |
1.8 |
|
| Earnings before income taxes |
91.0 |
100.5 |
232.6 |
268.1 |
|
| Provision for income taxes |
(32.8) |
(29.1) |
(89.0) |
(86.9) |
|
| Net earnings |
58.2 |
71.4 |
143.6 |
181.2 |
|
| Less: net earnings attributable to noncontrolling interest |
1.9 |
1.8 |
5.9 |
5.2 |
|
| Net earnings attributable to CDK |
56.3 |
69.6 |
137.7 |
176.0 |
|
| Condensed Combined Statement of Comprehensive Income |
|
|
|
|
|
| Currency translation adjustments |
|
|
(40.1) |
30.4 |
|
| Other comprehensive income |
(23.2) |
6.4 |
(40.1) |
30.4 |
|
| Comprehensive income |
35.0 |
77.8 |
103.5 |
211.6 |
|
| Less: comprehensive income attributable to noncontrolling interest |
|
|
|
5.2 |
|
| Comprehensive income attributable to CDK |
33.1 |
76.0 |
97.6 |
206.4 |
|
| Current assets: |
|
|
|
|
|
| Accounts receivable, net |
352.8 |
|
352.8 |
|
310.7 |
| Other current assets |
185.1 |
|
185.1 |
|
164.1 |
| Total current assets |
906.4 |
|
906.4 |
|
918.2 |
| Property, plant and equipment, net |
85.3 |
|
85.3 |
|
82.6 |
| Other assets |
245.4 |
|
245.4 |
|
233.1 |
| Assets |
2,509.3 |
|
2,509.3 |
|
2,598.6 |
| Current liabilities: |
|
|
|
|
|
| Accrued expenses and other current liabilities |
161.5 |
|
161.5 |
|
158.0 |
| Total current liabilities |
475.7 |
|
475.7 |
|
497.5 |
| Deferred income taxes |
73.3 |
|
73.3 |
|
76.5 |
| Other liabilities |
35.6 |
|
35.6 |
|
32.5 |
| Total liabilities |
1,745.3 |
|
1,745.3 |
|
789.3 |
| Equity: |
|
|
|
|
|
| Net parent company investment |
0 |
|
0 |
|
1,712.2 |
| Accumulated other comprehensive income |
45.6 |
|
45.6 |
|
85.7 |
| Total CDK stockholders' equity |
752.1 |
|
752.1 |
|
1,797.9 |
| Noncontrolling interest |
11.9 |
|
11.9 |
|
11.4 |
| Total equity |
764.0 |
|
764.0 |
|
1,809.3 |
| Total liabilities and equity |
2,509.3 |
|
2,509.3 |
|
2,598.6 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: |
|
|
|
|
|
| Depreciation and amortization |
|
|
57.1 |
39.6 |
|
| Deferred income taxes |
|
|
(2.0) |
(14.1) |
|
| Other |
|
|
(5.9) |
(7.1) |
|
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: |
|
|
|
|
|
| Increase in accounts receivable |
|
|
(55.6) |
(36.0) |
|
| Increase in other assets |
|
|
(19.1) |
(11.7) |
|
| (Decrease)/increase in accrued expenses and other liabilities |
|
|
14.6 |
(24.7) |
|
| Net cash flows provided by/(used in) operating activities |
|
|
160.2 |
142.6 |
|
| Cash Flows from Investing Activities: |
|
|
|
|
|
| Capital expenditures |
|
|
|
(30.4) |
|
| Net cash flows (used in)/provided by investing activities |
|
|
(7.8) |
(63.2) |
|
| Cash Flows from Financing Activities: |
|
|
|
|
|
| Dividend payments of CVR to noncontrolling owners |
|
|
(5.4) |
(8.0) |
|
| Net cash flows provided by/(used in) financing activities |
|
|
(163.8) |
10.2 |
|
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
764.0 |
|
764.0 |
|
1,809.3 |
| Net Parent Company Investment |
|
|
|
|
|
| Condensed Combined Statements of Operations |
|
|
|
|
|
| Net earnings |
|
|
39.0 |
|
|
| Equity: |
|
|
|
|
|
| Total equity |
0 |
|
0 |
|
1,712.2 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
0 |
|
0 |
|
1,712.2 |
| Accumulated Other Comprehensive Income |
|
|
|
|
|
| Condensed Combined Statement of Comprehensive Income |
|
|
|
|
|
| Currency translation adjustments |
|
|
(40.1) |
|
|
| Equity: |
|
|
|
|
|
| Total equity |
45.6 |
|
45.6 |
|
85.7 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
45.6 |
|
45.6 |
|
85.7 |
| Total CDK Stockholders' Equity |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
1,797.9 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
1,797.9 |
| Noncontrolling Interest |
|
|
|
|
|
| Condensed Combined Statements of Operations |
|
|
|
|
|
| Net earnings |
|
|
5.9 |
|
|
| Equity: |
|
|
|
|
|
| Total equity |
11.9 |
|
11.9 |
|
11.4 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
11.9 |
|
11.9 |
|
11.4 |
| As Reported |
|
|
|
|
|
| Condensed Combined Statements of Operations |
|
|
|
|
|
| Revenues |
|
500.5 |
|
1,469.3 |
|
| Cost of revenues |
|
|
|
899.1 |
|
| Selling, general and administrative expenses |
|
|
|
308.3 |
|
| Total expenses |
|
|
|
1,207.4 |
|
| Operating earnings |
|
|
|
261.9 |
|
| Other income, net |
|
|
|
0.1 |
|
| Earnings before income taxes |
|
98.3 |
|
261.3 |
|
| Provision for income taxes |
|
|
|
(86.3) |
|
| Net earnings |
|
69.3 |
|
175.0 |
|
| Less: net earnings attributable to noncontrolling interest |
|
0 |
|
0 |
|
| Net earnings attributable to CDK |
|
69.3 |
|
175.0 |
|
| Condensed Combined Statement of Comprehensive Income |
|
|
|
|
|
| Currency translation adjustments |
|
|
|
30.4 |
|
| Other comprehensive income |
|
|
|
30.4 |
|
| Comprehensive income |
|
|
|
205.4 |
|
| Less: comprehensive income attributable to noncontrolling interest |
|
|
|
0 |
|
| Comprehensive income attributable to CDK |
|
|
|
205.4 |
|
| Current assets: |
|
|
|
|
|
| Accounts receivable, net |
|
|
|
|
299.1 |
| Other current assets |
|
|
|
|
164.6 |
| Total current assets |
|
|
|
|
907.1 |
| Property, plant and equipment, net |
|
|
|
|
109.9 |
| Other assets |
|
|
|
|
205.5 |
| Assets |
|
|
|
|
2,587.2 |
| Current liabilities: |
|
|
|
|
|
| Accrued expenses and other current liabilities |
|
|
|
|
154.2 |
| Total current liabilities |
|
|
|
|
493.7 |
| Deferred income taxes |
|
|
|
|
76.6 |
| Other liabilities |
|
|
|
|
43.9 |
| Total liabilities |
|
|
|
|
797.0 |
| Equity: |
|
|
|
|
|
| Net parent company investment |
|
|
|
|
1,704.6 |
| Accumulated other comprehensive income |
|
|
|
|
85.6 |
| Total CDK stockholders' equity |
|
|
|
|
1,790.2 |
| Noncontrolling interest |
|
|
|
|
0 |
| Total equity |
|
|
|
|
1,790.2 |
| Total liabilities and equity |
|
|
|
|
2,587.2 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: |
|
|
|
|
|
| Depreciation and amortization |
|
|
|
51.2 |
|
| Deferred income taxes |
|
|
|
(14.7) |
|
| Other |
|
|
|
(0.7) |
|
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: |
|
|
|
|
|
| Increase in accounts receivable |
|
|
|
(34.9) |
|
| Increase in other assets |
|
|
|
(9.5) |
|
| (Decrease)/increase in accrued expenses and other liabilities |
|
|
|
(32.8) |
|
| Net cash flows provided by/(used in) operating activities |
|
|
|
149.0 |
|
| Cash Flows from Investing Activities: |
|
|
|
|
|
| Capital expenditures |
|
|
|
(44.8) |
|
| Net cash flows (used in)/provided by investing activities |
|
|
|
(77.6) |
|
| Cash Flows from Financing Activities: |
|
|
|
|
|
| Dividend payments of CVR to noncontrolling owners |
|
|
|
0 |
|
| Net cash flows provided by/(used in) financing activities |
|
|
|
18.2 |
|
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
1,790.2 |
| As Reported | Net Parent Company Investment |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
1,704.6 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
1,704.6 |
| As Reported | Accumulated Other Comprehensive Income |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
85.6 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
85.6 |
| As Reported | Total CDK Stockholders' Equity |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
1,790.2 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
1,790.2 |
| As Reported | Noncontrolling Interest |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| Hardware | Adjustments |
|
|
|
|
|
| Condensed Combined Statements of Operations |
|
|
|
|
|
| Revenues |
|
0.6 |
|
1.6 |
|
| Cost of revenues |
|
|
|
1.4 |
|
| Selling, general and administrative expenses |
|
|
|
0.3 |
|
| Total expenses |
|
|
|
1.7 |
|
| Operating earnings |
|
|
|
(0.1) |
|
| Other income, net |
|
|
|
1.7 |
|
| Earnings before income taxes |
|
0.4 |
|
1.6 |
|
| Provision for income taxes |
|
|
|
(0.6) |
|
| Net earnings |
|
0.3 |
|
1.0 |
|
| Less: net earnings attributable to noncontrolling interest |
|
0 |
|
0 |
|
| Net earnings attributable to CDK |
|
0.3 |
|
1.0 |
|
| Condensed Combined Statement of Comprehensive Income |
|
|
|
|
|
| Currency translation adjustments |
|
|
|
0 |
|
| Other comprehensive income |
|
|
|
0 |
|
| Comprehensive income |
|
|
|
1.0 |
|
| Less: comprehensive income attributable to noncontrolling interest |
|
|
|
0 |
|
| Comprehensive income attributable to CDK |
|
|
|
1.0 |
|
| Current assets: |
|
|
|
|
|
| Accounts receivable, net |
|
|
|
|
11.6 |
| Other current assets |
|
|
|
|
(0.5) |
| Total current assets |
|
|
|
|
11.1 |
| Property, plant and equipment, net |
|
|
|
|
(27.3) |
| Other assets |
|
|
|
|
27.6 |
| Assets |
|
|
|
|
11.4 |
| Current liabilities: |
|
|
|
|
|
| Accrued expenses and other current liabilities |
|
|
|
|
3.8 |
| Total current liabilities |
|
|
|
|
3.8 |
| Deferred income taxes |
|
|
|
|
(0.1) |
| Other liabilities |
|
|
|
|
0 |
| Total liabilities |
|
|
|
|
3.7 |
| Equity: |
|
|
|
|
|
| Net parent company investment |
|
|
|
|
7.6 |
| Accumulated other comprehensive income |
|
|
|
|
0.1 |
| Total CDK stockholders' equity |
|
|
|
|
7.7 |
| Noncontrolling interest |
|
|
|
|
0 |
| Total equity |
|
|
|
|
7.7 |
| Total liabilities and equity |
|
|
|
|
11.4 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: |
|
|
|
|
|
| Depreciation and amortization |
|
|
|
(11.6) |
|
| Deferred income taxes |
|
|
|
0.6 |
|
| Other |
|
|
|
(1.2) |
|
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: |
|
|
|
|
|
| Increase in accounts receivable |
|
|
|
(1.1) |
|
| Increase in other assets |
|
|
|
(2.2) |
|
| (Decrease)/increase in accrued expenses and other liabilities |
|
|
|
0.1 |
|
| Net cash flows provided by/(used in) operating activities |
|
|
|
(14.4) |
|
| Cash Flows from Investing Activities: |
|
|
|
|
|
| Capital expenditures |
|
|
|
14.4 |
|
| Net cash flows (used in)/provided by investing activities |
|
|
|
14.4 |
|
| Cash Flows from Financing Activities: |
|
|
|
|
|
| Dividend payments of CVR to noncontrolling owners |
|
|
|
0 |
|
| Net cash flows provided by/(used in) financing activities |
|
|
|
0 |
|
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
7.7 |
| Hardware | Adjustments | Net Parent Company Investment |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
7.6 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
7.6 |
| Hardware | Adjustments | Accumulated Other Comprehensive Income |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
0.1 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
0.1 |
| Hardware | Adjustments | Total CDK Stockholders' Equity |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
7.7 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
7.7 |
| Hardware | Adjustments | Noncontrolling Interest |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| NCI | Adjustments |
|
|
|
|
|
| Condensed Combined Statements of Operations |
|
|
|
|
|
| Revenues |
|
0 |
|
0 |
|
| Cost of revenues |
|
|
|
0 |
|
| Selling, general and administrative expenses |
|
|
|
(5.2) |
|
| Total expenses |
|
|
|
(5.2) |
|
| Operating earnings |
|
|
|
5.2 |
|
| Other income, net |
|
|
|
0 |
|
| Earnings before income taxes |
|
1.8 |
|
5.2 |
|
| Provision for income taxes |
|
|
|
0 |
|
| Net earnings |
|
1.8 |
|
5.2 |
|
| Less: net earnings attributable to noncontrolling interest |
|
1.8 |
|
5.2 |
|
| Net earnings attributable to CDK |
|
0 |
|
0 |
|
| Condensed Combined Statement of Comprehensive Income |
|
|
|
|
|
| Currency translation adjustments |
|
|
|
0 |
|
| Other comprehensive income |
|
|
|
0 |
|
| Comprehensive income |
|
|
|
5.2 |
|
| Less: comprehensive income attributable to noncontrolling interest |
|
|
|
5.2 |
|
| Comprehensive income attributable to CDK |
|
|
|
0 |
|
| Current assets: |
|
|
|
|
|
| Accounts receivable, net |
|
|
|
|
0 |
| Other current assets |
|
|
|
|
0 |
| Total current assets |
|
|
|
|
0 |
| Property, plant and equipment, net |
|
|
|
|
0 |
| Other assets |
|
|
|
|
0 |
| Assets |
|
|
|
|
0 |
| Current liabilities: |
|
|
|
|
|
| Accrued expenses and other current liabilities |
|
|
|
|
0 |
| Total current liabilities |
|
|
|
|
0 |
| Deferred income taxes |
|
|
|
|
0 |
| Other liabilities |
|
|
|
|
(11.4) |
| Total liabilities |
|
|
|
|
(11.4) |
| Equity: |
|
|
|
|
|
| Net parent company investment |
|
|
|
|
0 |
| Accumulated other comprehensive income |
|
|
|
|
0 |
| Total CDK stockholders' equity |
|
|
|
|
0 |
| Noncontrolling interest |
|
|
|
|
11.4 |
| Total equity |
|
|
|
|
11.4 |
| Total liabilities and equity |
|
|
|
|
0 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: |
|
|
|
|
|
| Depreciation and amortization |
|
|
|
0 |
|
| Deferred income taxes |
|
|
|
0 |
|
| Other |
|
|
|
(5.2) |
|
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: |
|
|
|
|
|
| Increase in accounts receivable |
|
|
|
0 |
|
| Increase in other assets |
|
|
|
0 |
|
| (Decrease)/increase in accrued expenses and other liabilities |
|
|
|
8.0 |
|
| Net cash flows provided by/(used in) operating activities |
|
|
|
8.0 |
|
| Cash Flows from Investing Activities: |
|
|
|
|
|
| Capital expenditures |
|
|
|
0 |
|
| Net cash flows (used in)/provided by investing activities |
|
|
|
0 |
|
| Cash Flows from Financing Activities: |
|
|
|
|
|
| Dividend payments of CVR to noncontrolling owners |
|
|
|
(8.0) |
|
| Net cash flows provided by/(used in) financing activities |
|
|
|
(8.0) |
|
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
11.4 |
| NCI | Adjustments | Net Parent Company Investment |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| NCI | Adjustments | Accumulated Other Comprehensive Income |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| NCI | Adjustments | Total CDK Stockholders' Equity |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
0 |
| NCI | Adjustments | Noncontrolling Interest |
|
|
|
|
|
| Equity: |
|
|
|
|
|
| Total equity |
|
|
|
|
11.4 |
| Combined Statement of Equity |
|
|
|
|
|
| Total equity |
|
|
|
|
$ 11.4 |