Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Financial Information (Tables)

v2.4.0.6
Condensed Consolidating Financial Information (Tables)
6 Months Ended
Aug. 31, 2012
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Consolidating Balance Sheet
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Balance Sheet at August 31, 2012
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash investments
$
99.6

 
$
0.8

 
$
78.1

 
$

 
$
178.5

Accounts receivable, net
327.2

 
77.8

 
82.1

 

 
487.1

Inventories
147.6

 
879.6

 
344.7

 
(7.0
)
 
1,364.9

Prepaid expenses and other
22.0

 
110.2

 
421.2

 
(406.0
)
 
147.4

Intercompany (payable) receivable
(1,129.4
)
 
1,047.5

 
81.9

 

 

Total current assets
(533.0
)
 
2,115.9

 
1,008.0

 
(413.0
)
 
2,177.9

Property, plant and equipment, net
63.1

 
807.7

 
362.7

 

 
1,233.5

Investments in subsidiaries
6,968.9

 
174.0

 

 
(7,142.9
)
 

Goodwill

 
2,097.9

 
641.4

 

 
2,739.3

Intangible assets, net

 
688.2

 
190.0

 

 
878.2

Restricted cash
650.0

 

 

 

 
650.0

Other assets, net
60.1

 
263.6

 
56.5

 
(18.6
)
 
361.6

Total assets
$
7,209.1

 
$
6,147.3

 
$
2,258.6

 
$
(7,574.5
)
 
$
8,040.5

 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Notes payable to banks
$

 
$

 
$
15.2

 
$

 
$
15.2

Current maturities of long-term debt
37.2

 
6.5

 
0.1

 

 
43.8

Accounts payable
20.8

 
111.2

 
53.6

 

 
185.6

Accrued excise taxes
14.7

 
8.8

 
4.2

 

 
27.7

Other accrued expenses and liabilities
570.7

 
145.6

 
75.5

 
(408.1
)
 
383.7

Total current liabilities
643.4

 
272.1

 
148.6

 
(408.1
)
 
656.0

Long-term debt, less current maturities
3,915.3

 
13.4

 

 

 
3,928.7

Deferred income taxes
8.6

 
546.4

 
82.0

 
(18.5
)
 
618.5

Other liabilities
23.7

 
68.6

 
126.9

 

 
219.2

Stockholders’ equity:
 
 
 
 
 
 
 
 
 
Preferred stock

 
9.0

 
1,180.8

 
(1,189.8
)
 

Class A and Class B Convertible Common Stock
2.7

 
100.7

 
27.0

 
(127.7
)
 
2.7

Additional paid-in capital
1,832.6

 
1,394.6

 
1,628.8

 
(3,023.4
)
 
1,832.6

Retained earnings (deficit)
2,303.9

 
3,730.5

 
(1,143.1
)
 
(2,587.4
)
 
2,303.9

Accumulated other comprehensive income
157.7

 
12.0

 
207.6

 
(219.6
)
 
157.7

Treasury stock
(1,678.8
)
 

 

 

 
(1,678.8
)
Total stockholders’ equity
2,618.1

 
5,246.8

 
1,901.1

 
(7,147.9
)
 
2,618.1

Total liabilities and stockholders’ equity
$
7,209.1

 
$
6,147.3

 
$
2,258.6

 
$
(7,574.5
)
 
$
8,040.5

 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Balance Sheet at February 29, 2012
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash investments
$
0.5

 
$
0.6

 
$
84.7

 
$

 
$
85.8

Accounts receivable, net
293.2

 
71.6

 
72.8

 

 
437.6

Inventories
143.0

 
916.8

 
322.0

 
(7.3
)
 
1,374.5

Prepaid expenses and other
22.5

 
116.5

 
398.6

 
(401.2
)
 
136.4

Intercompany (payable) receivable
(945.6
)
 
849.7

 
95.9

 

 

Total current assets
(486.4
)
 
1,955.2

 
974.0

 
(408.5
)
 
2,034.3

Property, plant and equipment, net
56.9

 
819.3

 
379.6

 

 
1,255.8

Investments in subsidiaries
6,704.7

 
166.6

 

 
(6,871.3
)
 

Goodwill

 
1,987.4

 
645.5

 

 
2,632.9

Intangible assets, net

 
673.4

 
193.0

 

 
866.4

Restricted cash

 

 

 

 

Other assets, net
20.7

 
263.3

 
60.2

 
(23.7
)
 
320.5

Total assets
$
6,295.9

 
$
5,865.2

 
$
2,252.3

 
$
(7,303.5
)
 
$
7,109.9

 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Notes payable to banks
$
297.9

 
$

 
$
80.0

 
$

 
$
377.9

Current maturities of long-term debt
324.3

 
5.7

 
0.2

 

 
330.2

Accounts payable
23.8

 
75.7

 
31.0

 

 
130.5

Accrued excise taxes
14.4

 
6.3

 
4.1

 

 
24.8

Other accrued expenses and liabilities
518.2

 
138.5

 
82.5

 
(403.0
)
 
336.2

Total current liabilities
1,178.6

 
226.2

 
197.8

 
(403.0
)
 
1,199.6

Long-term debt, less current maturities
2,407.3

 
14.1

 

 

 
2,421.4

Deferred income taxes
2.7

 
534.5

 
95.1

 
(23.6
)
 
608.7

Other liabilities
31.3

 
53.5

 
119.4

 

 
204.2

Stockholders’ equity:
 
 
 
 
 
 
 
 
 
Preferred stock

 
9.0

 
1,180.8

 
(1,189.8
)
 

Class A and Class B Convertible Common Stock
2.6

 
100.7

 
27.0

 
(127.7
)
 
2.6

Additional paid-in capital
1,691.4

 
1,394.6

 
1,621.2

 
(3,015.8
)
 
1,691.4

Retained earnings (deficit)
2,107.3

 
3,519.1

 
(1,209.2
)
 
(2,309.9
)
 
2,107.3

Accumulated other comprehensive income
173.7

 
13.5

 
220.2

 
(233.7
)
 
173.7

Treasury stock
(1,299.0
)
 

 

 

 
(1,299.0
)
Total stockholders’ equity
2,676.0

 
5,036.9

 
1,840.0

 
(6,876.9
)
 
2,676.0

Total liabilities and stockholders’ equity
$
6,295.9

 
$
5,865.2

 
$
2,252.3

 
$
(7,303.5
)
 
$
7,109.9


 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Six Months Ended August 31, 2012
Sales
$
966.6

 
$
800.4

 
$
400.2

 
$
(644.2
)
 
$
1,523.0

Less – excise taxes
(103.4
)
 
(54.6
)
 
(31.7
)
 

 
(189.7
)
Net sales
863.2

 
745.8

 
368.5

 
(644.2
)
 
1,333.3

Cost of product sold
(680.7
)
 
(537.5
)
 
(219.3
)
 
639.9

 
(797.6
)
Gross profit
182.5

 
208.3

 
149.2

 
(4.3
)
 
535.7

Selling, general and administrative expenses
(167.5
)
 
(51.9
)
 
(84.7
)
 
5.8

 
(298.3
)
Restructuring charges
0.9

 
(0.4
)
 
(1.2
)
 

 
(0.7
)
Operating income
15.9

 
156.0

 
63.3

 
1.5

 
236.7

Equity in earnings of equity method investees and subsidiaries
288.6

 
129.6

 
0.2

 
(287.3
)
 
131.1

Interest (expense) income, net
(164.9
)
 
57.6

 
2.0

 

 
(105.3
)
Loss on write-off of financing costs
(2.8
)
 

 

 

 
(2.8
)
Income before income taxes
136.8

 
343.2

 
65.5

 
(285.8
)
 
259.7

Benefit from (provision for) income taxes
59.8

 
(131.0
)
 
8.4

 
(0.3
)
 
(63.1
)
Net income
$
196.6

 
$
212.2

 
$
73.9

 
$
(286.1
)
 
$
196.6

Comprehensive income
$
180.6

 
$
210.7

 
$
61.3

 
$
(272.0
)
 
$
180.6

 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Six Months Ended August 31, 2011
Sales
$
336.7

 
$
919.3

 
$
346.0

 
$
(120.9
)
 
$
1,481.1

Less – excise taxes
(61.4
)
 
(62.6
)
 
(31.6
)
 

 
(155.6
)
Net sales
275.3

 
856.7

 
314.4

 
(120.9
)
 
1,325.5

Cost of product sold
(142.2
)
 
(529.9
)
 
(191.1
)
 
71.7

 
(791.5
)
Gross profit
133.1

 
326.8

 
123.3

 
(49.2
)
 
534.0

Selling, general and administrative expenses
(136.2
)
 
(120.5
)
 
(70.2
)
 
50.5

 
(276.4
)
Restructuring charges
(5.5
)
 
(3.4
)
 
(1.9
)
 

 
(10.8
)
Operating (loss) income
(8.6
)
 
202.9

 
51.2

 
1.3

 
246.8

Equity in earnings of equity method investees and subsidiaries
281.8

 
126.7

 
2.6

 
(284.9
)
 
126.2

Interest (expense) income, net
(118.2
)
 
28.2

 
3.2

 

 
(86.8
)
Loss on write-off of financing costs

 

 

 

 

Income before income taxes
155.0

 
357.8

 
57.0

 
(283.6
)
 
286.2

Benefit from (provision for) income taxes
82.2

 
(124.5
)
 
(6.7
)
 

 
(49.0
)
Net income
$
237.2

 
$
233.3

 
$
50.3

 
$
(283.6
)
 
$
237.2

Comprehensive income
$
265.2

 
$
210.2

 
$
100.0

 
$
(310.2
)
 
$
265.2

 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended August 31, 2012
Sales
$
511.3

 
$
399.3

 
$
206.8

 
$
(319.7
)
 
$
797.7

Less – excise taxes
(54.8
)
 
(28.1
)
 
(16.3
)
 

 
(99.2
)
Net sales
456.5

 
371.2

 
190.5

 
(319.7
)
 
698.5

Cost of product sold
(342.5
)
 
(276.6
)
 
(113.0
)
 
318.7

 
(413.4
)
Gross profit
114.0

 
94.6

 
77.5

 
(1.0
)
 
285.1

Selling, general and administrative expenses
(84.9
)
 
(33.2
)
 
(39.3
)
 
3.1

 
(154.3
)
Restructuring charges
0.7

 

 
(0.9
)
 

 
(0.2
)
Operating income
29.8

 
61.4

 
37.3

 
2.1

 
130.6

Equity in earnings of equity method investees and subsidiaries
146.9

 
72.2

 
0.1

 
(148.7
)
 
70.5

Interest (expense) income, net
(84.6
)
 
28.9

 
1.1

 

 
(54.6
)
Loss on write-off of financing costs

 

 

 

 

Income before income taxes
92.1

 
162.5

 
38.5

 
(146.6
)
 
146.5

Benefit from (provision for) income taxes
32.5

 
(62.0
)
 
7.8

 
(0.2
)
 
(21.9
)
Net income
$
124.6

 
$
100.5

 
$
46.3

 
$
(146.8
)
 
$
124.6

Comprehensive income
$
199.2

 
$
106.8

 
$
123.3

 
$
(230.1
)
 
$
199.2

 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended August 31, 2011
Sales
$
182.4

 
$
470.9

 
$
188.2

 
$
(71.1
)
 
$
770.4

Less – excise taxes
(31.4
)
 
(32.2
)
 
(16.6
)
 

 
(80.2
)
Net sales
151.0

 
438.7

 
171.6

 
(71.1
)
 
690.2

Cost of product sold
(79.3
)
 
(270.7
)
 
(103.7
)
 
46.5

 
(407.2
)
Gross profit
71.7

 
168.0

 
67.9

 
(24.6
)
 
283.0

Selling, general and administrative expenses
(68.0
)
 
(59.5
)
 
(35.4
)
 
24.7

 
(138.2
)
Restructuring charges

 
0.1

 
0.2

 

 
0.3

Operating income
3.7

 
108.6

 
32.7

 
0.1

 
145.1

Equity in earnings of equity method investees and subsidiaries
149.7

 
65.0

 
1.0

 
(151.7
)
 
64.0

Interest (expense) income, net
(61.0
)
 
16.8

 
1.7

 

 
(42.5
)
Loss on write-off of financing costs

 

 

 

 

Income before income taxes
92.4

 
190.4

 
35.4

 
(151.6
)
 
166.6

Benefit from (provision for) income taxes
70.3

 
(69.5
)
 
(4.7
)
 

 
(3.9
)
Net income
$
162.7

 
$
120.9

 
$
30.7

 
$
(151.6
)
 
$
162.7

Comprehensive income
$
155.8

 
$
106.9

 
$
36.2

 
$
(143.1
)
 
$
155.8

Condensed Consolidating Statement of Comprehensive Income
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Six Months Ended August 31, 2012
Sales
$
966.6

 
$
800.4

 
$
400.2

 
$
(644.2
)
 
$
1,523.0

Less – excise taxes
(103.4
)
 
(54.6
)
 
(31.7
)
 

 
(189.7
)
Net sales
863.2

 
745.8

 
368.5

 
(644.2
)
 
1,333.3

Cost of product sold
(680.7
)
 
(537.5
)
 
(219.3
)
 
639.9

 
(797.6
)
Gross profit
182.5

 
208.3

 
149.2

 
(4.3
)
 
535.7

Selling, general and administrative expenses
(167.5
)
 
(51.9
)
 
(84.7
)
 
5.8

 
(298.3
)
Restructuring charges
0.9

 
(0.4
)
 
(1.2
)
 

 
(0.7
)
Operating income
15.9

 
156.0

 
63.3

 
1.5

 
236.7

Equity in earnings of equity method investees and subsidiaries
288.6

 
129.6

 
0.2

 
(287.3
)
 
131.1

Interest (expense) income, net
(164.9
)
 
57.6

 
2.0

 

 
(105.3
)
Loss on write-off of financing costs
(2.8
)
 

 

 

 
(2.8
)
Income before income taxes
136.8

 
343.2

 
65.5

 
(285.8
)
 
259.7

Benefit from (provision for) income taxes
59.8

 
(131.0
)
 
8.4

 
(0.3
)
 
(63.1
)
Net income
$
196.6

 
$
212.2

 
$
73.9

 
$
(286.1
)
 
$
196.6

Comprehensive income
$
180.6

 
$
210.7

 
$
61.3

 
$
(272.0
)
 
$
180.6

 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Six Months Ended August 31, 2011
Sales
$
336.7

 
$
919.3

 
$
346.0

 
$
(120.9
)
 
$
1,481.1

Less – excise taxes
(61.4
)
 
(62.6
)
 
(31.6
)
 

 
(155.6
)
Net sales
275.3

 
856.7

 
314.4

 
(120.9
)
 
1,325.5

Cost of product sold
(142.2
)
 
(529.9
)
 
(191.1
)
 
71.7

 
(791.5
)
Gross profit
133.1

 
326.8

 
123.3

 
(49.2
)
 
534.0

Selling, general and administrative expenses
(136.2
)
 
(120.5
)
 
(70.2
)
 
50.5

 
(276.4
)
Restructuring charges
(5.5
)
 
(3.4
)
 
(1.9
)
 

 
(10.8
)
Operating (loss) income
(8.6
)
 
202.9

 
51.2

 
1.3

 
246.8

Equity in earnings of equity method investees and subsidiaries
281.8

 
126.7

 
2.6

 
(284.9
)
 
126.2

Interest (expense) income, net
(118.2
)
 
28.2

 
3.2

 

 
(86.8
)
Loss on write-off of financing costs

 

 

 

 

Income before income taxes
155.0

 
357.8

 
57.0

 
(283.6
)
 
286.2

Benefit from (provision for) income taxes
82.2

 
(124.5
)
 
(6.7
)
 

 
(49.0
)
Net income
$
237.2

 
$
233.3

 
$
50.3

 
$
(283.6
)
 
$
237.2

Comprehensive income
$
265.2

 
$
210.2

 
$
100.0

 
$
(310.2
)
 
$
265.2

 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended August 31, 2012
Sales
$
511.3

 
$
399.3

 
$
206.8

 
$
(319.7
)
 
$
797.7

Less – excise taxes
(54.8
)
 
(28.1
)
 
(16.3
)
 

 
(99.2
)
Net sales
456.5

 
371.2

 
190.5

 
(319.7
)
 
698.5

Cost of product sold
(342.5
)
 
(276.6
)
 
(113.0
)
 
318.7

 
(413.4
)
Gross profit
114.0

 
94.6

 
77.5

 
(1.0
)
 
285.1

Selling, general and administrative expenses
(84.9
)
 
(33.2
)
 
(39.3
)
 
3.1

 
(154.3
)
Restructuring charges
0.7

 

 
(0.9
)
 

 
(0.2
)
Operating income
29.8

 
61.4

 
37.3

 
2.1

 
130.6

Equity in earnings of equity method investees and subsidiaries
146.9

 
72.2

 
0.1

 
(148.7
)
 
70.5

Interest (expense) income, net
(84.6
)
 
28.9

 
1.1

 

 
(54.6
)
Loss on write-off of financing costs

 

 

 

 

Income before income taxes
92.1

 
162.5

 
38.5

 
(146.6
)
 
146.5

Benefit from (provision for) income taxes
32.5

 
(62.0
)
 
7.8

 
(0.2
)
 
(21.9
)
Net income
$
124.6

 
$
100.5

 
$
46.3

 
$
(146.8
)
 
$
124.6

Comprehensive income
$
199.2

 
$
106.8

 
$
123.3

 
$
(230.1
)
 
$
199.2

 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended August 31, 2011
Sales
$
182.4

 
$
470.9

 
$
188.2

 
$
(71.1
)
 
$
770.4

Less – excise taxes
(31.4
)
 
(32.2
)
 
(16.6
)
 

 
(80.2
)
Net sales
151.0

 
438.7

 
171.6

 
(71.1
)
 
690.2

Cost of product sold
(79.3
)
 
(270.7
)
 
(103.7
)
 
46.5

 
(407.2
)
Gross profit
71.7

 
168.0

 
67.9

 
(24.6
)
 
283.0

Selling, general and administrative expenses
(68.0
)
 
(59.5
)
 
(35.4
)
 
24.7

 
(138.2
)
Restructuring charges

 
0.1

 
0.2

 

 
0.3

Operating income
3.7

 
108.6

 
32.7

 
0.1

 
145.1

Equity in earnings of equity method investees and subsidiaries
149.7

 
65.0

 
1.0

 
(151.7
)
 
64.0

Interest (expense) income, net
(61.0
)
 
16.8

 
1.7

 

 
(42.5
)
Loss on write-off of financing costs

 

 

 

 

Income before income taxes
92.4

 
190.4

 
35.4

 
(151.6
)
 
166.6

Benefit from (provision for) income taxes
70.3

 
(69.5
)
 
(4.7
)
 

 
(3.9
)
Net income
$
162.7

 
$
120.9

 
$
30.7

 
$
(151.6
)
 
$
162.7

Comprehensive income
$
155.8

 
$
106.9

 
$
36.2

 
$
(143.1
)
 
$
155.8



 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Cash Flows for the Six Months Ended August 31, 2012
Net cash provided by operating activities
$
209.8

 
$
142.6

 
$
16.1

 
$

 
$
368.5

 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase of business, net of cash acquired

 
(159.7
)
 

 

 
(159.7
)
Purchases of property, plant and equipment
(7.9
)
 
(21.1
)
 
(6.6
)
 

 
(35.6
)
Payments related to sale of business
(0.3
)
 

 

 

 
(0.3
)
Proceeds from sales of assets

 
4.9

 
3.0

 

 
7.9

Proceeds from notes receivable
1.2

 
3.4

 

 

 
4.6

Other investing activities

 
(0.8
)
 
(0.1
)
 

 
(0.9
)
Net cash used in investing activities
(7.0
)
 
(173.3
)
 
(3.7
)
 

 
(184.0
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Intercompany financings, net
(77.4
)
 
33.7

 
43.7

 

 

Principal payments of long-term debt
(835.2
)
 
(2.8
)
 

 

 
(838.0
)
Payment of restricted cash upon issuance of long-term debt
(650.0
)
 

 

 

 
(650.0
)
Purchases of treasury stock
(383.0
)
 

 

 

 
(383.0
)
Net repayment of notes payable
(298.0
)
 

 
(60.3
)
 

 
(358.3
)
Payment of financing costs of long-term debt
(34.1
)
 

 

 

 
(34.1
)
Payment of minimum tax withholdings on stock-based payment awards

 

 
(0.5
)
 

 
(0.5
)
Proceeds from issuance of long-term debt
2,050.0

 

 

 

 
2,050.0

Proceeds from exercises of employee stock options
110.5

 

 

 

 
110.5

Proceeds from excess tax benefits from stock-based payment awards
11.4

 

 

 

 
11.4

Proceeds from employee stock purchases
2.1

 

 

 

 
2.1

Net cash (used in) provided by financing activities
(103.7
)
 
30.9

 
(17.1
)
 

 
(89.9
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash investments

 

 
(1.9
)
 

 
(1.9
)
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash investments
99.1

 
0.2

 
(6.6
)
 

 
92.7

Cash and cash investments, beginning of period
0.5

 
0.6

 
84.7

 

 
85.8

Cash and cash investments, end of period
$
99.6

 
$
0.8

 
$
78.1

 
$

 
$
178.5

 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Cash Flows for the Six Months Ended August 31, 2011
Net cash (used in) provided by operating activities
$
(27.8
)
 
$
457.4

 
$
87.8

 
$

 
$
517.4

 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase of business, net of cash acquired

 

 

 

 

Purchases of property, plant and equipment
(12.5
)
 
(20.6
)
 
(6.1
)
 

 
(39.2
)
Payments related to sale of business
(8.9
)
 

 
(19.9
)
 

 
(28.8
)
Proceeds from sales of assets

 
0.2

 
0.1

 

 
0.3

Proceeds from notes receivable
1.0

 

 

 

 
1.0

Other investing activities

 
(5.1
)
 
(1.4
)
 

 
(6.5
)
Net cash used in investing activities
(20.4
)
 
(25.5
)
 
(27.3
)
 

 
(73.2
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Intercompany financings, net
472.4

 
(415.9
)
 
(56.5
)
 

 

Principal payments of long-term debt
(405.7
)
 
(14.2
)
 

 

 
(419.9
)
Payment of restricted cash upon issuance of long-term debt

 

 

 

 

Purchases of treasury stock
(187.5
)
 

 

 

 
(187.5
)
Net proceeds from (repayment of) notes payable
116.6

 

 
(3.3
)
 

 
113.3

Payment of financing costs of long-term debt

 

 

 

 

Payment of minimum tax
withholdings on stock-based payment
awards

 
(1.7
)
 
(0.5
)
 

 
(2.2
)
Proceeds from issuance of long-term debt

 

 

 

 

Proceeds from exercises of employee stock options
39.0

 

 

 

 
39.0

Proceeds from excess tax benefits
from stock-based payment awards
10.6

 

 

 

 
10.6

Proceeds from employee stock purchases
2.4

 

 

 

 
2.4

Net cash provided by (used in) financing activities
47.8

 
(431.8
)
 
(60.3
)
 

 
(444.3
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
and cash investments

 

 
0.9

 

 
0.9

 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash and cash
investments
(0.4
)
 
0.1

 
1.1

 

 
0.8

Cash and cash investments, beginning
of period
0.7

 
0.9

 
7.6

 

 
9.2

Cash and cash investments, end of
period
$
0.3

 
$
1.0

 
$
8.7