Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2013 | |
Document And Entity Information [Abstract] | ' |
Document Type | 'S-4/A |
Amendment Flag | 'false |
Document Period End Date | 30-Sep-13 |
Entity Registrant Name | 'REVLON CONSUMER PRODUCTS CORP |
Entity Central Index Key | '0000890547 |
Entity Filer Category | 'Non-accelerated Filer |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
In Millions, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | |||
Cash and cash equivalents | $139.30 | $116.30 | $101.70 | |||
Trade receivables, net | 194.1 | 216 | 212 | |||
Inventories | 142.2 | 114.7 | 111 | |||
Deferred income taxes - current | 50 | 48.5 | 49.6 | |||
Prepaid expenses and other | ' | 120.5 | 107.6 | |||
Receivable from Revlon, Inc. | 91 | 75.1 | 64.2 | |||
Prepaid expenses and other | 51.3 | 45.4 | ' | |||
Total current assets | 667.9 | 616 | 581.9 | |||
Property, plant and equipment, net | 102.7 | 99.5 | 98.9 | |||
Deferred income taxes - noncurrent | 181.2 | 203.1 | 221.4 | |||
Goodwill | 217.9 | 217.8 | 194.7 | |||
Intangible assets, net | 64.7 | 68.8 | 29.2 | |||
Other assets | 101.9 | 92.5 | 80 | |||
Total assets | 1,336.30 | 1,297.70 | 1,206.10 | |||
Current liabilities: | ' | ' | ' | |||
Short-term borrowings | 6.6 | 5 | 5.9 | |||
Current portion of long-term debt | 0 | [1] | 21.5 | [1],[2] | 8 | [2] |
Current portion of long-term debt - affiliates | 48.6 | [3] | 48.6 | [3] | 0 | |
Accounts payable | 103.4 | 101.8 | 89 | |||
Accrued expenses and other | 224.8 | 264.7 | 230 | |||
Total current liabilities | 383.4 | 441.6 | 332.9 | |||
Long-term debt | 1,228.20 | 1,145.80 | 1,107 | |||
Long-term debt - affiliates | ' | 0 | 107 | |||
Long-term pension and other post-retirement plan liabilities | 210.1 | 233.7 | 245.5 | |||
Other long-term liabilities | 56.3 | 53.3 | 55.3 | |||
Commitments and contingencies | ' | ' | ' | |||
Stockholder's deficiency: | ' | ' | ' | |||
RCPC Preferred Stock, value | 54.6 | 54.6 | 54.6 | |||
Common Stock, value | 0 | 0 | 0 | |||
Additional paid-in capital | 946.3 | 946.3 | 945.3 | |||
Accumulated deficit | -1,336.60 | -1,369.40 | -1,440.60 | |||
Accumulated other comprehensive loss | -206 | -208.2 | -200.9 | |||
Total stockholder's deficiency | -541.7 | -576.7 | -641.6 | |||
Total liabilities and stockholder's deficiency | $1,336.30 | $1,297.70 | $1,206.10 | |||
[1] | In February 2013, Products Corporation consummated an amendment (the "February 2013 Term Loan Amendments") to its third amended and restated term loan agreement dated as of May 19, 2011 (as amended, the "2011 Term Loan Agreement" or the "2011 Term Loan Facility") for its 6.5-year term loan due November 19, 2017 (the "2011 Term Loan"). Refer to "Recent Debt Transactions - Term Loan Amendments - (i) February 2013 Term Loan Amendments" below for further discussion. | |||||
[2] | The Company classified $21.5 million of long-term debt as a current liability, which is comprised of the Company's regularly scheduled $2.0 million principal repayment due on March 31, 2013 as well as the required "excess cash flow" payment (as defined under the 2011 Term Loan Agreement) to be made in 2013. (See below under "2011 Credit Agreements"). | |||||
[3] | For detail regarding Products Corporation's Amended and Restated Senior Subordinated Term Loan (the "Amended and Restated Senior Subordinated Term Loan"), consisting of (i) the $58.4 million principal amount which remains owing from Products Corporation to various third parties (the "Non-Contributed Loan"), which matures on October 8, 2014, and (ii) the $48.6 million principal amount which, at September 30, 2013 was due from Products Corporation to Revlon, Inc. (the "Contributed Loan"), and which Products Corporation repaid to Revlon, Inc. at maturity on October 8, 2013, see Note 10, "Long-Term Debt," to the Consolidated Financial Statements in the Company's 2012 Form 10-K. |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, except Share data, unless otherwise specified | |||
Statement Of Financial Position [Abstract] | ' | ' | ' |
Allowance for doubtful accounts on trade receivables | $3.40 | $3.50 | $3.20 |
Accumulated depreciation on property, plant and equipment | 236.4 | 226 | 210.6 |
Accumulated amortization on intangible assets | $34.70 | $29.70 | $25.10 |
RCPC Preferred Stock, par value (usd per share) | $1 | $1 | $1 |
RCPC Preferred Stock, shares authorized (shares) | 1,000 | 1,000 | 1,000 |
RCPC Preferred Stock, shares issued (shares) | 546 | 546 | 546 |
RCPC Preferred Stock, shares outstanding (shares) | 546 | 546 | 546 |
Common Stock, par value (usd per share) | $1 | $1 | $1 |
Common Stock, shares authorized (shares) | 10,000 | 10,000 | 10,000 |
Common Stock, shares issued (shares) | 5,260 | 5,260 | 5,260 |
Common Stock, Shares, Outstanding | 5,260 | 5,260 | 5,260 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE (LOSS) INCOME (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||||||||
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Net sales | $339.40 | $391.30 | $347 | $357.10 | $330.70 | $359.80 | $337.20 | $351.20 | $333.20 | $1,021.40 | $1,034.80 | $1,426.10 | $1,381.40 | $1,321.40 | ||||||||||||||
Cost of sales | 123.8 | ' | 127 | ' | ' | ' | ' | ' | ' | 365.5 | 367.1 | 506.5 | 492.6 | 455.3 | ||||||||||||||
Gross profit | 215.6 | 251.9 | 220 | 232.7 | 215 | 225.5 | 214.1 | 229.3 | 219.9 | 655.9 | 667.7 | 919.6 | 888.8 | 866.1 | ||||||||||||||
Selling, general and administrative expenses | 174.4 | ' | 174.7 | ' | ' | ' | ' | ' | ' | 500 | 524.4 | 690.9 | 678.1 | 659.3 | ||||||||||||||
Restructuring charges and other, net | -1.5 | ' | 21 | ' | ' | ' | ' | ' | ' | 1.8 | 21 | 20.7 | 0 | -0.3 | ||||||||||||||
Operating income | 42.7 | ' | 24.3 | ' | ' | ' | ' | ' | ' | 154.1 | 122.3 | 208 | 210.7 | 207.1 | ||||||||||||||
Other expenses, net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Interest expense | 17.8 | ' | 21.4 | ' | ' | ' | ' | ' | ' | 55.5 | 64.1 | 85.3 | 91.1 | 96.7 | ||||||||||||||
Amortization of debt issuance costs | 0.8 | ' | 0.9 | ' | ' | ' | ' | ' | ' | 2.2 | 2.6 | 3.4 | 3.7 | 4.5 | ||||||||||||||
Loss on early extinguishment of debt | 0.2 | ' | 0 | ' | ' | ' | ' | ' | ' | 28.1 | 0 | 0 | 11.2 | 9.7 | ||||||||||||||
Foreign currency losses (gains), net | 0.4 | ' | -0.1 | ' | ' | ' | ' | ' | ' | 2.9 | 2 | 2.7 | 4.4 | 6.3 | ||||||||||||||
Miscellaneous, net | 0.5 | ' | 0.1 | ' | ' | ' | ' | ' | ' | 0.5 | 0.4 | 1 | 1.5 | 1.2 | ||||||||||||||
Other (income) expenses, net | 19.7 | ' | 22.3 | ' | ' | ' | ' | ' | ' | 89.2 | 69.1 | 92.4 | 111.9 | 118.4 | ||||||||||||||
Income from continuing operations before income taxes | 23 | ' | 2 | ' | ' | ' | ' | ' | ' | 64.9 | 53.2 | 115.6 | 98.8 | 88.7 | ||||||||||||||
Provision for (benefit from) income taxes | 13 | ' | 12 | ' | ' | ' | ' | ' | ' | 32.4 | 33.1 | 44.8 | 35.4 | -235.3 | ||||||||||||||
Income (loss) from continuing operations, net of taxes | 10 | 50.7 | [1],[2] | -10 | [1],[2] | 20.1 | [1],[2] | 10 | [1],[2] | 38.9 | [3] | 5.3 | [3] | 7.2 | [3] | 12 | [3] | 32.5 | 20.1 | 70.8 | 63.4 | 324 | ||||||
Income from discontinued operations, net of taxes | 0 | 0 | 0 | 0.4 | 0 | ' | ' | 0.6 | ' | 0.3 | 0.4 | 0.4 | 0.6 | 0.3 | ||||||||||||||
Net income | 10 | 50.7 | [1],[2] | -10 | [1],[2] | 20.5 | [1],[2] | 10 | [1],[2] | 38.9 | [3] | 5.3 | [3] | 7.8 | [3] | 12 | [3] | 32.8 | 20.5 | 71.2 | 64 | 324.3 | ||||||
Other comprehensive (loss) income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Currency translation adjustment, net of tax | 1.1 | [4] | ' | -1.9 | [4] | ' | ' | ' | ' | ' | ' | -3.6 | [4] | 0.3 | [4] | -1.5 | [5] | -8.3 | [5] | 7.4 | [5] | |||||||
Amortization of pension related costs, net of tax | 2 | [6],[7] | ' | 1.8 | [6],[7] | ' | ' | ' | ' | ' | ' | 5.8 | [6],[7] | 7.5 | [6],[7] | 9.4 | [10],[8],[9] | 3.6 | [8],[9] | 5.4 | [8],[9] | |||||||
Pension re-measurement, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15.4 | [11] | -45.9 | [11] | -8.4 | [11] | |||||||||||
Pension curtailment gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | [12] | 0 | 1.5 | [13] | ||||||||||||
Revaluation of derivative financial instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 1.7 | [14] | |||||||||||||
Other comprehensive (loss) income | 3.1 | ' | -0.1 | ' | ' | ' | ' | ' | ' | 2.2 | [15] | 7.8 | -7.3 | [16] | -50.6 | [16] | 7.6 | [16] | ||||||||||
Total comprehensive income | $13.10 | ' | ($10.10) | ' | ' | ' | ' | ' | ' | $35 | $28.30 | $63.90 | $13.40 | $331.90 | ||||||||||||||
[1] | Loss from continuing operations and net loss for the third quarter of 2012 were unfavorably impacted by $24.1 million in restructuring and related charges recorded as a result of the September 2012 Program (See Note 3, "Restructuring Charges"). | |||||||||||||||||||||||||||
[2] | Income from continuing operations and net income for the fourth quarter of 2012 were favorably impacted by an increase in net income driven by a non-cash benefit of $15.8 million related to the reduction of the Company's deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions in the U.S. at December 31, 2012, as a result of the Company's improved earnings trends and cumulative taxable income in those jurisdictions, which is reflected in the provision for income taxes (See Note 13, "Income Taxes"). | |||||||||||||||||||||||||||
[3] | Income from continuing operations and net income for the fourth quarter of 2011 were favorably impacted by an increase in net income driven by a non-cash benefit of $16.9 million related to the reduction of the Company's deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions outside the U.S. at December 31, 2011 as a result of the Company's improved earnings trends and cumulative taxable income in those jurisdictions. (See Note 13, "Income Taxes"). | |||||||||||||||||||||||||||
[4] | Net of tax expense (benefit) of $0.9 million and $(0.7) million for the three months ended September 30, 2013 and 2012, respectively, and $3.2 million and $0.7 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
[5] | Net of tax of $1.0 million, $1.8 million and nil for the years ended December 31, 2012, 2011 and 2010, respectively. | |||||||||||||||||||||||||||
[6] | Net of tax benefit of $(0.2) million for the three months ended September 30, 2013 and 2012 and $(0.9) million and $(0.7) million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
[7] | This other comprehensive income component is included in the computation of net periodic benefit (income) costs. See Note 2, "Pension and Post-Retirement Benefits," for additional information regarding net periodic benefit (income) costs. | |||||||||||||||||||||||||||
[8] | Net of tax of $(1.0) million, $(2.0) million and nil for the years ended December 31, 2012, 2011 and 2010, respectively. | |||||||||||||||||||||||||||
[9] | Amounts represent the change in Accumulated Other Comprehensive Loss as a result of the amortization of unrecognized prior service costs and actuarial losses (gains) arising during each year related to the Company's pension and other post-retirement plans. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). | |||||||||||||||||||||||||||
[10] | Included in this amount is a $2.0 million reclassification adjustment recorded in the first quarter of 2012 related to deferred taxes on the amortization of actuarial losses. | |||||||||||||||||||||||||||
[11] | Net of tax of $7.2 million, $30.1 million and nil for the years ended December 31, 2012, 2011 and 2010, respectively. | |||||||||||||||||||||||||||
[12] | As a result of the September 2012 Program, the Company recognized a curtailment gain of $1.7 million, partially offset by $0.1 million of accumulated actuarial losses and $0.1 million of prior service costs previously reported within Accumulated Other Comprehensive Loss, for a net gain of $1.5 million, which was recorded within restructuring charges for the year ended December 31, 2012. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). | |||||||||||||||||||||||||||
[13] | The Company recognized a $1.5 million curtailment gain in 2010, primarily in connection with the amendments to its Canadian defined benefit pension plan in 2010, which reduced pension liability and was recorded as an offset against the net actuarial losses previously reported within Accumulated Other Comprehensive Loss. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). | |||||||||||||||||||||||||||
[14] | Amounts related to "Deferred Loss - Hedging" in 2010 represent (1) the reclassification of an unrecognized loss of $0.8 million on the 2008 Interest Rate Swap prior to its expiration in April 2010 from Accumulated Other Comprehensive Loss into earnings due to the discontinuance of hedge accounting as a result of the 2010 refinancing of the 2006 bank term loan facility (see Note 12, "Financial Instruments") and (2) the reversal of amounts recorded in Accumulated Other Comprehensive Loss pertaining to the net settlement payment of $0.9 million on the 2008 Interest Rate Swap. | |||||||||||||||||||||||||||
[15] | See Note 7, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive income during the first nine months of 2013. | |||||||||||||||||||||||||||
[16] | See Note 16, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of accumulated other comprehensive loss during the years ended December 31, 2012, 2011 and 2010. |
CONSOLIDATED_STATEMENTS_OF_INC1
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE (LOSS) INCOME (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Currency translation adjustment, tax | $0.90 | ($0.70) | $3.20 | $0.70 | $1 | $1.80 | $0 |
Amortization of pension related costs, tax benefit | -0.2 | -0.2 | -0.9 | -0.7 | -1 | -2 | 0 |
Pension re-measurement, tax | ' | ' | ' | ' | $7.20 | $30.10 | $0 |
CONSOLIDATED_STATEMENT_OF_STOC
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIENCY) (USD $) | Total | RCPC Preferred Stock | Additional Paid-In-Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss | |
In Millions | ||||||
Beginning balance at Dec. 31, 2009 | ($993.80) | $54.60 | $938.40 | ($1,828.90) | ($157.90) | |
Stock-based compensation amortization | 3.6 | ' | 3.6 | ' | ' | |
Excess tax benefits from stock-based compensation | 1.2 | ' | 1.2 | ' | ' | |
Net income | 324.3 | ' | ' | 324.3 | ' | |
Other comprehensive income (loss), net | [1] | 7.6 | ' | ' | ' | 7.6 |
Ending balance at Dec. 31, 2010 | -657.1 | 54.6 | 943.2 | -1,504.60 | -150.3 | |
Stock-based compensation amortization | 1.9 | ' | 1.9 | ' | ' | |
Excess tax benefits from stock-based compensation | 0.2 | ' | 0.2 | ' | ' | |
Net income | 64 | ' | ' | 64 | ' | |
Other comprehensive income (loss), net | [1] | -50.6 | ' | ' | ' | -50.6 |
Ending balance at Dec. 31, 2011 | -641.6 | 54.6 | 945.3 | -1,440.60 | -200.9 | |
Stock-based compensation amortization | 0.3 | ' | 0.3 | ' | ' | |
Excess tax benefits from stock-based compensation | 0.7 | ' | 0.7 | ' | ' | |
Net income | 71.2 | ' | ' | 71.2 | ' | |
Other comprehensive income (loss), net | [1] | -7.3 | ' | ' | ' | -7.3 |
Ending balance at Dec. 31, 2012 | -576.7 | 54.6 | 946.3 | -1,369.40 | -208.2 | |
Net income | 32.8 | ' | ' | 32.8 | ' | |
Other comprehensive income (loss), net | [2] | 2.2 | ' | ' | ' | 2.2 |
Ending balance at Sep. 30, 2013 | ($541.70) | $54.60 | $946.30 | ($1,336.60) | ($206) | |
[1] | See Note 16, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of accumulated other comprehensive loss during the years ended December 31, 2012, 2011 and 2010. | |||||
[2] | See Note 7, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive income during the first nine months of 2013. |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' |
Net income | $32.80 | $20.50 | $71.20 | $64 | $324.30 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' | ' |
Income from discontinued operations, net of taxes | -0.3 | -0.4 | -0.4 | -0.6 | -0.3 |
Depreciation and amortization | 51.5 | 48.4 | 65 | 60.8 | 57 |
Amortization of debt discount | 1 | 1.4 | 1.9 | 2.3 | 2.5 |
Stock compensation amortization | 0 | 0.3 | 0.3 | 1.9 | 3.6 |
Provision for (benefit from) deferred income taxes | 21.6 | 24.2 | 29.6 | 12.2 | -247.3 |
Loss on early extinguishment of debt | 28.1 | 0 | 0 | 11.2 | 9.7 |
Amortization of debt issuance costs | 2.2 | 2.6 | 3.4 | 3.7 | 4.5 |
Insurance proceeds for property, plant and equipment | -13.1 | 0 | ' | ' | ' |
(Gain) loss on sale of certain assets | -3.1 | 0.2 | 0.4 | 0 | 0 |
Pension and other post-retirement (income) costs | -0.2 | 4.1 | 4 | 5.2 | 9.5 |
Change in assets and liabilities: | ' | ' | ' | ' | ' |
Decrease (Increase) in trade receivables | 16.9 | 16.5 | -4.7 | -18.3 | -19.2 |
(Increase) decrease in inventories | -31.3 | -32.6 | -4.4 | 3.6 | 7 |
Increase in prepaid expenses and other current assets | -23.4 | -21.5 | -14.4 | -12.3 | -15.4 |
Increase in accounts payable | 4.3 | 2.2 | 5.3 | 8 | 17 |
(Decrease) increase in accrued expenses and other current liabilities | -30.9 | 27.6 | 38.5 | 22 | 16.4 |
Pension and other post-retirement plan contributions | -16 | -26.8 | -29.8 | -31.5 | -25.8 |
Purchases of permanent displays | -30.1 | -31.2 | -43.2 | -41.3 | -33.7 |
Other, net | -4.2 | -17.6 | -18.6 | -2.9 | -13.1 |
Net cash provided by operating activities | 5.8 | 17.9 | 104.1 | 88 | 96.7 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' |
Capital expenditures | -17.9 | -14.8 | -20.9 | -13.9 | -15.2 |
Business acquisition | 0 | -66.2 | -66.2 | -39 | 0 |
Insurance proceeds for property, plant and equipment | 13.1 | 0 | ' | ' | ' |
Proceeds from the sale of certain assets | 3.4 | 0.6 | 0.8 | 0.3 | 0.3 |
Net cash used in investing activities | -1.4 | -80.4 | -86.3 | -52.6 | -14.9 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Net increase (decrease) in short-term borrowings and overdraft | 0.2 | 12.5 | 6.3 | 0.2 | -10.6 |
Payment of financing costs | -32.7 | -0.1 | -0.4 | -4.3 | -17 |
Other financing activities | -1.8 | -0.7 | -1.3 | -1.4 | 0.3 |
Net cash provided by (used in) financing activities | 22.7 | 5.7 | -3.4 | -7.5 | -62.3 |
Effect of exchange rate changes on cash and cash equivalents | -4.1 | 0.3 | 0.2 | -2.9 | 2.7 |
Net increase (decrease) in cash and cash equivalents | 23 | -56.5 | 14.6 | 25 | 22.2 |
Cash and cash equivalents at beginning of period | 116.3 | 101.7 | 101.7 | 76.7 | 54.5 |
Cash and cash equivalents at end of period | 139.3 | 45.2 | 116.3 | 101.7 | 76.7 |
Cash paid during the period for: | ' | ' | ' | ' | ' |
Interest | 60.8 | 62.1 | 84.8 | 91.2 | 83.5 |
Income taxes, net of refunds | 10.6 | 13.6 | 17.8 | 20.3 | 16 |
2006 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | ' | ' | 0 | 0 | -815 |
2010 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Borrowings under the Term Loan Facility | ' | ' | 0 | 0 | 786 |
Repayments of Long Term Debt | ' | ' | 0 | -794 | -6 |
2011 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Borrowings under the Term Loan Facility | ' | ' | 0 | 796 | 0 |
Repayments of Long Term Debt | -113 | -6 | -8 | -4 | 0 |
5 3/4% Senior Notes Due 2021 [Member] | ' | ' | ' | ' | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' | ' |
Loss on early extinguishment of debt | -25.4 | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Borrowings under the Term Loan Facility | 500 | 0 | ' | ' | ' |
9 3/4% Senior Secured Notes Due 2015 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | ($330) | $0 | ' | ' | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2012 | |
Accounting Policies [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Principles of Consolidation and Basis of Presentation: | |
Revlon Consumer Products Corporation (“Products Corporation” and together with its subsidiaries, the “Company”) operates in a single segment and manufactures, markets and sells an extensive array of cosmetics, women’s hair color, beauty tools, anti-perspirant deodorants, fragrances, skincare and other beauty care products. The Company’s vision is glamour, excitement and innovation through high-quality products at affordable prices. The Company’s principal customers include large mass volume retailers and chain drug and food stores in the U.S., as well as certain department stores and other specialty stores, such as perfumeries, outside the U.S. The Company also sells beauty products to U.S. military exchanges and commissaries and has a licensing business pursuant to which the Company licenses certain of its key brand names to third parties for the manufacture and sale of complementary beauty-related products and accessories in exchange for royalties. | |
Products Corporation is a direct wholly-owned subsidiary of Revlon, Inc., which is a direct and indirect majority-owned subsidiary of MacAndrews & Forbes Holdings Inc. (“MacAndrews & Forbes Holdings” and, together with certain of its affiliates other than Revlon, Inc. and the Company, “MacAndrews & Forbes”), a corporation wholly-owned by Ronald O. Perelman. | |
The accompanying Consolidated Financial Statements include the accounts of the Company after the elimination of all material intercompany balances and transactions. | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Significant estimates made in the accompanying Consolidated Financial Statements include, but are not limited to, allowances for doubtful accounts, inventory valuation reserves, expected sales returns and allowances, trade support costs, certain assumptions related to the recoverability of intangible and long-lived assets, deferred tax valuation allowances, reserves for estimated tax liabilities, restructuring costs, certain estimates and assumptions used in the calculation of the net periodic benefit costs and the projected benefit obligations for the Company’s pension and other post-retirement plans, including the expected long-term return on pension plan assets and the discount rate used to value the Company’s year-end pension benefit obligations. | |
Effective beginning October 1, 2012, the Company is consolidating and reporting Latin America and Canada (previously reported separately) as the combined Latin America and Canada region. Certain prior year amounts in the Consolidated Financial Statements and Notes to Consolidated Financial Statements have been reclassified to conform to the current year’s presentation. | |
Cash and Cash Equivalents: | |
Cash equivalents are primarily investments in high-quality, short-term money market instruments with original maturities of three months or less and are carried at cost, which approximates fair value. Cash equivalents were $3.4 million and $4.2 million as of December 31, 2012 and 2011, respectively. Accounts payable includes $8.3 million and $1.0 million of outstanding checks not yet presented for payment at December 31, 2012 and 2011, respectively. | |
Accounts Receivable: | |
Accounts receivable represent payments due to the Company for previously recognized net sales, reduced by an allowance for doubtful accounts for balances which are estimated to be uncollectible at December 31, 2012 and 2011, respectively. The Company grants credit terms in the normal course of business to its customers. Trade credit is extended based upon periodically updated evaluations of each customer’s ability to perform its payment obligations. The Company does not normally require collateral or other security to support credit sales. The allowance for doubtful accounts is determined based on historical experience and ongoing evaluations of the Company’s receivables and evaluations of the risks of payment. The allowance for doubtful accounts is recorded against accounts receivable balances when they are deemed uncollectible. Recoveries of accounts receivable previously reserved are recorded in the consolidated statements of income and comprehensive income when received. At December 31, 2012 and 2011, the Company’s three largest customers accounted for an aggregate of approximately 31% and 35%, respectively, of outstanding accounts receivable. | |
Inventories: | |
Inventories are stated at the lower of cost or market value. Cost is principally determined by the first-in, first-out method. The Company records adjustments to the value of inventory based upon its forecasted plans to sell its inventories, as well as planned product discontinuances. The physical condition (e.g., age and quality) of the inventories is also considered in establishing the valuation. | |
Property, Plant and Equipment and Other Assets: | |
Property, plant and equipment is recorded at cost and is depreciated on a straight-line basis over the estimated useful lives of such assets as follows: land improvements, 20 years; buildings, 20 to 45 years; machinery and equipment, 3 to 10 years; office furniture and fixtures, 3 to 15 years; and capitalized software, 2 to 5 years. Leasehold improvements and building improvements are amortized over their estimated useful lives or the terms of the leases or remaining life of the original structure, respectively, whichever is shorter. Repairs and maintenance are charged to operations as incurred, and expenditures for additions and improvements are capitalized. See Note 6, “Property, Plant and Equipment, Net” for further discussion of the above. | |
Included in other assets are permanent wall displays amounting to $60.8 million and $53.5 million as of December 31, 2012 and 2011, respectively, which are amortized generally over a period of 1 to 3 years. In the event of product discontinuances, from time to time the Company may accelerate the amortization of related permanent wall displays based on the estimated remaining useful life of the asset. Amortization expense for permanent wall displays was $36 million for 2012 and $35.2 million for both 2011 and 2010. The Company has also included, in other assets, net deferred financing costs related to the issuance of the Company’s debt instruments amounting to $17.0 million and $23.4 million as of December 31, 2012 and 2011, respectively, which are amortized over the terms of the related debt instruments. | |
Long-lived assets, including fixed assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. If events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, the Company estimates the undiscounted future cash flows (excluding interest) resulting from the use of the asset and its ultimate disposition. If the sum of the undiscounted cash flows (excluding interest) is less than the carrying value, the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the fair value of the asset. There was no significant impairment of long-lived assets in the years ended December 31, 2012, 2011 and 2010. | |
Goodwill: | |
Goodwill represents the excess purchase price for businesses acquired over the fair value of net assets acquired. The Company does not amortize its goodwill. The Company reviews its goodwill for impairment at least annually, or whenever events or changes in circumstances would indicate possible impairment. The Company operates in one operating segment and one reportable segment, which is also the only reporting unit for purposes of accounting for goodwill. Since the Company currently only has one reporting unit, all of its goodwill has been assigned to the enterprise as a whole. Goodwill is reviewed for impairment annually, using September 30th carrying values. As the Company has a negative carrying value, the Company’s management performed an assessment of qualitative factors and concluded that it is more likely than not that a goodwill impairment does not exist. The Company did not record any impairment of goodwill during the years ended December 31, 2012, 2011 or 2010. In addition, the Company assesses potential impairments to goodwill when there is evidence that events or changes in circumstances indicate that the Company’s carrying amount may not be recovered. As of December 31, 2012, there have been no significant events since the timing of the Company’s annual impairment test that would have triggered additional impairment testing. See Note 7, “Goodwill and Intangible Assets, Net” for further discussion of the above. | |
Intangible Assets, net: | |
Intangible Assets, net, include customer relationships, trademarks and patents. Intangible assets with finite useful lives are amortized over their respective estimated useful lives to their estimated residual values. Customer relationships are recorded at cost and amortized ratably over a weighted average period of approximately 18 years. Trademarks and patents are recorded at cost and amortized ratably over a weighted average period of approximately 10 years. Intangible assets are considered for impairment upon certain “triggering events” and an impairment is recognized if the carrying amount exceeds the fair value of the intangible asset. There was no impairment of intangible assets in the years ended December 31, 2012, 2011 and 2010. See Note 7, “Goodwill and Intangible Assets, Net” for further discussion of the above. | |
Revenue Recognition: | |
Sales are recognized when revenue is realized or realizable and has been earned. The Company’s policy is to recognize revenue when risk of loss and title to the product transfers to the customer. Net sales are comprised of gross revenues less expected returns, trade discounts and customer allowances, which include costs associated with off-invoice mark-downs and other price reductions, as well as trade promotions and coupons. These incentive costs are recognized at the later of the date on which the Company recognizes the related revenue or the date on which the Company offers the incentive. The Company allows customers to return their unsold products if and when they meet certain Company-established criteria as set forth in the Company’s trade terms. The Company regularly reviews and revises, when deemed necessary, its estimates of sales returns based primarily upon the historical rate of actual product returns, planned product discontinuances, new product launches and estimates of customer inventory and promotional sales. The Company records sales returns as a reduction to sales and cost of sales, and an increase to accrued liabilities and inventories. Returned products, which are recorded as inventories, are valued based upon the amount that the Company expects to realize upon their subsequent disposition. The physical condition and marketability of the returned products are the major factors considered by the Company in estimating their realizable value. | |
Revenues derived from licensing arrangements, including any pre-payments, are recognized in the period in which they are earned, but not before the initial license term commences. | |
Cost of Sales: | |
Cost of sales includes all of the costs to manufacture the Company’s products. For products manufactured in the Company’s own facilities, such costs include raw materials and supplies, direct labor and factory overhead. For products manufactured for the Company by third-party contractors, such cost represents the amounts invoiced by the contractors. Cost of sales also includes the cost of refurbishing products returned by customers that will be offered for resale and the cost of inventory write-downs associated with adjustments of held inventories to their net realizable value. These costs are reflected in the Company’s consolidated statements of income and comprehensive income when the product is sold and net sales revenues are recognized or, in the case of inventory write-downs, when circumstances indicate that the carrying value of inventories is in excess of their recoverable value. Additionally, cost of sales reflects the costs associated with any free products included as sales and promotional incentives. These incentive costs are recognized on the later of the date that the Company recognizes the related revenue or the date on which the Company offers the incentive. | |
Selling, General and Administrative Expenses: | |
Selling, general and administrative (“SG&A”) expenses include expenses to advertise the Company’s products, such as television advertising production costs and air-time costs, print advertising costs, promotional displays and consumer promotions. SG&A expenses also include the amortization of permanent wall displays and intangible assets, distribution costs (such as freight and handling), non-manufacturing overhead (principally personnel and related expenses), insurance and professional fees. | |
Advertising: | |
Advertising within SG&A expenses includes television, print, digital and other advertising production costs which are expensed the first time the advertising takes place. The costs of promotional displays are expensed in the period in which they are shipped to customers. Advertising expenses were $269.4 million, $271.4 million and $265.2 million for 2012, 2011 and 2010, respectively, and were included in SG&A expenses in the Company’s Consolidated Statements of Income and Comprehensive Income. The Company also has various arrangements with customers pursuant to its trade terms to reimburse them for a portion of their advertising costs, which provide advertising benefits to the Company. Additionally, from time to time the Company may pay fees to customers in order to expand or maintain shelf space for its products. The costs that the Company incurs for “cooperative” advertising programs, end cap placement, shelf placement costs, slotting fees and marketing development funds, if any, are expensed as incurred and are netted against revenues on the Company’s consolidated statements of income and comprehensive income. | |
Distribution Costs: | |
Costs, such as freight and handling costs, associated with product distribution are expensed within SG&A expenses when incurred. Distribution costs were $62.1 million, $60.9 million and $58.7 million for 2012, 2011 and 2010, respectively. | |
Income Taxes: | |
Income taxes are calculated using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in income tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. | |
Research and Development: | |
Research and development expenditures are expensed as incurred. The amounts charged against earnings in 2012, 2011 and 2010 for research and development expenditures were $24.2 million, $23.8 million and $24.0 million, respectively. | |
Foreign Currency Translation: | |
Assets and liabilities of foreign operations are translated into U.S. dollars at the rates of exchange in effect at the balance sheet date. Income and expense items are translated at the weighted average exchange rates prevailing during each period presented. Gains and losses resulting from foreign currency transactions are included in the results of operations. Gains and losses resulting from translation of financial statements of foreign subsidiaries and branches operating in non-hyperinflationary economies are recorded as a component of accumulated other comprehensive loss until either the sale or upon the complete or substantially complete liquidation by the Company of its investment in a foreign entity. To the extent that foreign subsidiaries and branches operate in hyperinflationary economies, non-monetary assets and liabilities are translated at historical rates and translation adjustments are included in the results of operations. | |
Venezuela | |
Highly-Inflationary Economy: Effective January 1, 2010, Venezuela was designated as a highly inflationary economy under U.S. GAAP. As a result, beginning January 1, 2010, the U.S. dollar is the functional currency for the Company’s subsidiary in Venezuela (“Revlon Venezuela”). Through December 31, 2009, prior to Venezuela being designated as highly inflationary, currency translation adjustments of Revlon Venezuela’s balance sheet were reflected in stockholder’s deficiency as part of other comprehensive income (loss); however, subsequent to January 1, 2010, such adjustments are reflected in earnings. | |
Currency Devaluation: On January 8, 2010, the Venezuelan government announced the devaluation of its local currency, Venezuelan Bolivars (“Bolivars”), relative to the U.S. dollar and the official exchange rate for non-essential goods changed from 2.15 to 4.30. Throughout 2010, the Company used Venezuela’s official rate to translate Revlon Venezuela’s financial statements. In 2010, the devaluation had the impact of reducing the Company’s reported net sales and operating income by $33.4 million and $8.4 million, respectively. Additionally, to reflect the impact of the currency devaluation, the Company recorded a one-time foreign currency loss of $2.8 million in January 2010 as a result of the required re-measurement of Revlon Venezuela’s balance sheet. As Venezuela was designated as a highly inflationary economy effective January 1, 2010, this foreign currency loss was reflected in earnings in the first quarter of 2010. | |
Currency Restrictions: Currency restrictions enacted by the Venezuelan government in 2003 have become more restrictive and have impacted Revlon Venezuela’s ability to obtain U.S. dollars in exchange for Bolivars at the official foreign exchange rates from the Venezuelan government and its foreign exchange commission, the Comisión de Administracion de Divisas (“CADIVI”). In May 2010, the Venezuelan government took control over the previously freely-traded foreign currency exchange market and in June 2010, replaced it with a new foreign currency exchange system, the Sistema de Transacciones en Moneda Extranjera (“SITME”). SITME provides a mechanism to exchange Bolivars into U.S. dollars. However, U.S. dollars accessed through SITME can only be used for product purchases and related services, such as freight, and are not available for other transactions, such as the payment of dividends. Also, SITME can only be used for amounts of up to $50,000 per day, subject to a monthly maximum of $350,000 per legal entity, and is generally only available to the extent the applicant has not exchanged and received U.S. dollars from CADIVI within the previous 90 days. In the second quarter of 2011, the Company began using a SITME rate of 5.5 Bolivars per U.S. dollar to translate Revlon Venezuela’s financial statements, as this was the rate at which the Company accessed U.S. dollars in the SITME market during this period (the “SITME Rate”). The Company had previously utilized Venezuela’s official exchange rate of 4.3 Bolivars per U.S. dollar to translate Revlon Venezuela’s financial statements from January 1, 2010 through March 31, 2011. Through December 31, 2012, the Company continued using the SITME Rate to translate Revlon Venezuela’s financial statements. | |
To reflect the impact of the change in exchange rates from Venezuela’s official exchange rate to the SITME Rate, a foreign currency loss of $1.7 million was recorded in the second quarter of 2011. As Venezuela was designated as a highly inflationary economy effective January 1, 2010, the Company reflected this foreign currency loss in earnings for the year ended December 31, 2011. | |
Classes of Stock: | |
Products Corporation designated 1,000 shares of preferred stock as the “RCPC Preferred Stock”, of which 546 shares are outstanding and all of which are held by Revlon, Inc. The holder of the RCPC Preferred Stock is not entitled to receive any dividends. The RCPC Preferred Stock is entitled to a liquidation preference of $100,000 per share before any distribution is made to the holder of Products Corporation’s common stock. The holder of the RCPC Preferred Stock does not have any voting rights, except as required by law. The RCPC Preferred Stock may be redeemed at any time by Products Corporation, at its option, for $100,000 per share. However, the terms of Products Corporation’s various debt agreements currently restrict Products Corporation’s ability to effect such redemption. | |
Stock-Based Compensation: | |
The Company recognizes stock-based compensation costs for its stock options and restricted stock, measured at the fair value of each award at the time of grant, as an expense over the vesting period of the instrument. Upon the exercise of stock options or the vesting of restricted stock, any resulting tax benefits are recognized in additional paid-in-capital. Any resulting tax deficiencies are recognized in the consolidated statements of income and comprehensive income as tax expense to the extent that the tax deficiency amount exceeds any existing additional paid-in-capital resulting from previously realized excess tax benefits from previous awards. The Company reflects such excess tax benefits as cash flows from financing activities in the consolidated statements of cash flows. | |
Derivative Financial Instruments: | |
The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed by using derivative financial instruments are foreign currency exchange rate risk and interest rate risk. The Company uses derivative financial instruments, primarily foreign currency forward exchange contracts (“FX Contracts”) intended for the purpose of managing foreign currency exchange risk by reducing the effects of fluctuations in foreign currency exchange rates on the Company’s net cash flows. The Company may also enter into interest rate hedging transactions intended for the purpose of managing interest rate risk associated with Products Corporation’s variable rate indebtedness. | |
Foreign Currency Forward Exchange Contracts | |
Products Corporation enters into FX Contracts primarily to hedge the anticipated net cash flows resulting from inventory purchases and intercompany payments denominated in currencies other than the local currencies of the Company’s foreign and domestic operations and generally have maturities of less than one year. The Company does not apply hedge accounting to its FX Contracts. The Company records FX Contracts in its consolidated balance sheet at fair value and changes in fair value are immediately recognized in earnings. Fair value of the Company’s FX Contracts is determined by using observable market transactions of spot and forward rates. | |
Interest Rate Swap | |
Products Corporation’s 2008 Interest Rate Swap (as hereinafter defined) expired in April 2010. As of December 31, 2012, 2011 and 2010, the Company did not have any outstanding interest rate swaps. | |
Recently Adopted Accounting Pronouncements: | |
In May 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards (“IFRS”),” which amends Accounting Standards Codification (“ASC”) 820, “Fair Value Measurement.” ASU No. 2011-04 modifies ASC 820 to include disclosure of all transfers between Level 1 and Level 2 asset and liability fair value categories. In addition, ASU No. 2011-04 provides guidance on measuring the fair value of financial instruments managed within a portfolio and the application of premiums and discounts on fair value measurements. ASU No. 2011-04 requires additional disclosure for Level 3 measurements regarding the sensitivity of fair value to changes in unobservable inputs and any interrelationships between those inputs. The Company adopted ASU No. 2011-04 beginning January 1, 2012 and such adoption did not have a material impact on the Company’s results of operations, financial condition or disclosures. | |
In June 2011, the FASB issued ASU No. 2011-05, “Presentation of Comprehensive Income.” ASU No. 2011-05 eliminates the option to report other comprehensive income and its components in the statement of changes in equity. Under ASU No. 2011-05, an entity can elect to present items of net income and other comprehensive income in one continuous statement or in two separate, but consecutive, statements. In addition, in December 2011, the FASB issued ASU No. 2011-12, “Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05.” ASU No. 2011-12 defers the requirement to present components of reclassifications of comprehensive income by income statement line item on the statement of comprehensive income, with all other requirements of ASU No. 2011-05 unaffected. The Company adopted ASU No. 2011-05 and ASU No. 2011-12 beginning January 1, 2012 and has elected to present items of net income and other comprehensive income in one continuous statement. | |
Other Events | |
Fire at Revlon Venezuela Facility | |
On June 5, 2011, the Company’s facility in Venezuela was destroyed by fire. For the years ended December 31, 2012, 2011 and 2010, Revlon Venezuela had net sales of approximately 2%, 2% and 3%, respectively, of the Company’s consolidated net sales. At December 31, 2012, 2011 and 2010, total assets of Revlon Venezuela were approximately 2%, 2% and 3%, respectively, of the Company’s total assets. Prior to the fire, approximately 50% of Revlon Venezuela’s net sales were comprised of products imported from the Company’s Oxford, North Carolina facility and approximately 50% were comprised of products locally manufactured at the Revlon Venezuela facility. Revlon Venezuela did not have any net sales from the date of the fire until August 12, 2011. The Company’s net sales in Venezuela since August 12, 2011 have been primarily comprised of (i) products imported from the Company’s Oxford, North Carolina facility; and (ii) commencing in the first quarter of 2012, certain products imported from third party manufacturers outside of Venezuela, which were locally manufactured at the Revlon Venezuela facility prior to the fire. | |
The Company maintains comprehensive property insurance, as well as business interruption insurance. Business interruption insurance is intended to reimburse for lost profits and other costs incurred, which are attributable to the loss, during the loss period, subject to the terms and conditions of the applicable policies. | |
For the years ended December 31, 2012 and 2011, the Company incurred business interruption losses of $2.8 million and $9.7 million, respectively, related to the fire. Additionally, in June 2011, the Company recorded a $4.9 million impairment loss related to Revlon Venezuela’s net book value of inventory, property, plant and equipment destroyed by the fire, for total losses of $14.6 million incurred in the year ended December 31, 2011. The business interruption losses incurred in the years ended December 31, 2012 and 2011 include estimated profits lost as a result of the interruption of Revlon Venezuela’s business and costs incurred directly related to the fire. The Company’s insurance coverage provides for business interruption losses to be reimbursed, subject to the terms and conditions of such policy, for a period of time, which period for the coverage related to the Venezuela fire ended on October 2, 2012. The business interruption losses incurred through December 31, 2012 are not indicative of future expected profits for Revlon Venezuela. | |
For the years ended December 31, 2012 and 2011, the Company received interim advances of $6.6 million and $19.7 million, respectively, from its insurance carrier in connection with the fire, for total cumulative receipts of $26.3 million received from the date of the fire through December 31, 2012. During the years ended December 31, 2012 and 2011, the Company recognized $2.8 million and $14.6 million, respectively, of income from insurance recoveries, which entirely offset the business interruption losses and 2011 impairment loss noted above. The income from insurance recoveries is included within SG&A expenses in the Company’s Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2012 and 2011. The Company recorded deferred income related to the insurance proceeds received, but not yet recognized, of $8.9 million and $5.1 million as of December 31, 2012 and 2011, respectively, which is included in accrued expenses and other in the Company’s Consolidated Balance Sheet. | |
The final amount and timing of the ultimate insurance recovery is currently unknown. See Note 22, “Subsequent Events –Insurance Settlement on Loss of Inventory,” for discussion related to the final settlement of the inventory portion of the total insurance claim. |
BUSINESS_ACQUISITIONS
BUSINESS ACQUISITIONS | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
BUSINESS ACQUISITIONS | ' | ||||||||
2. BUSINESS ACQUISITIONS | |||||||||
Pure Ice | |||||||||
On July 2, 2012, the Company acquired certain assets of Bari Cosmetics, Ltd., including trademarks and other intellectual property related to Pure Ice nail enamel and Bon Bons cosmetics brands (the “Pure Ice Acquisition”). The Company paid $66.2 million of total consideration for the Pure Ice Acquisition in cash, comprised of $45.0 million cash on hand and $21.2 million drawn under Products Corporation’s 2011 Revolving Credit Facility. The results of operations related to the Pure Ice Acquisition are included in the Company’s consolidated financial statements commencing on the date of acquisition. Pro forma results of operations have not been presented, as the impact of the Pure Ice Acquisition on the Company’s consolidated financial results would not have been material. As of December 31, 2012, there were no outstanding borrowings under Products Corporation’s 2011 Revolving Credit Facility (excluding $10.4 million of outstanding undrawn letters of credit). | |||||||||
The Company accounted for the Pure Ice Acquisition as a business combination during the third quarter of 2012 and, accordingly, the total consideration of $66.2 million has been recorded based on the respective estimated fair values of the net assets acquired at July 2, 2012 as follows: | |||||||||
Intangible assets | $ | 43.1 | |||||||
Goodwill | 23.1 | ||||||||
Total consideration | $ | 66.2 | |||||||
Goodwill of $23.1 million represents the excess of cost over the fair value of intangible assets acquired. Factors contributing to the purchase price resulting in the recognition of goodwill include the strength of the Pure Ice brand in a key retailer in the U.S. Both the intangible assets acquired and goodwill are expected to be deductible for income tax purposes. The intangible assets acquired by major asset category are as follows: | |||||||||
Fair Values | Weighted Average | ||||||||
at July 2, 2012 | Useful Life | ||||||||
(in years) | |||||||||
Customer Relationship | $ | 33.3 | 19 | ||||||
Trademarks and Trade Names | 9.8 | 10 | |||||||
Total | $ | 43.1 | |||||||
SinfulColors | |||||||||
On March 17, 2011, the Company acquired certain assets, including trademarks and other intellectual property, inventory, certain receivables and manufacturing equipment, related to SinfulColors cosmetics, Wild and Crazy cosmetics, freshMinerals cosmetics and freshcover cosmetics, which products are sold principally in the U.S. mass retail channel (the “SinfulColors Acquisition”). The Company also assumed certain liabilities of the acquired business. The Company paid $39.0 million of total consideration for the SinfulColors Acquisition in cash, which included the $38.0 million purchase price and a $1.0 million adjustment based on working capital at closing. The results of operations related to the SinfulColors Acquisition are included in the Company’s consolidated financial statements commencing on the date of acquisition. Pro forma results of operations have not been presented, as the impact of the SinfulColors Acquisition on the Company’s consolidated financial results would not have been material. | |||||||||
The Company accounted for the SinfulColors Acquisition as a business combination during the first quarter of 2011 and, accordingly, the total consideration of $39.0 million has been recorded based on the respective estimated fair values of the net assets acquired at March 17, 2011 as follows: | |||||||||
Recognized amounts of assets acquired and liabilities assumed: | |||||||||
Trade receivables | $ | 2.7 | |||||||
Inventories | 3.3 | ||||||||
Property, plant and equipment, net | 0.4 | ||||||||
Intangible assets | 22.8 | ||||||||
Accounts payable | (0.9 | ) | |||||||
Accrued expenses and other | (1.4 | ) | |||||||
Fair value of net assets acquired | 26.9 | ||||||||
Goodwill | 12.1 | ||||||||
Total consideration | $ | 39 | |||||||
The allocation of the total consideration of $39.0 million includes intangible assets of $22.8 million and goodwill of $12.1 million, all of which is expected to be deductible for income tax purposes. The intangible assets acquired by major asset category are as follows: | |||||||||
Fair Values at | Weighted Average | ||||||||
March 17, | Useful Life | ||||||||
2011 | (in years) | ||||||||
Trademarks and Trade Names | $ | 7.3 | 10 | ||||||
Customer Relationships | 15.5 | 14 | |||||||
Total | $ | 22.8 | |||||||
RESTRUCTURING_CHARGES
RESTRUCTURING CHARGES | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
RESTRUCTURING CHARGES | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
3. RESTRUCTURING CHARGES AND OTHER, NET | 3. RESTRUCTURING CHARGES | |||||||||||||||||||||||||||||||||||||||||||||||||||||
September 2012 Program | September 2012 Program | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In September 2012, the Company announced a worldwide restructuring (the “September 2012 Program”), which primarily involved the Company exiting its owned manufacturing facility in France and its leased manufacturing facility in Maryland; rightsizing its organizations in France and Italy; and realigning its operations in Latin America, including consolidating Latin America and Canada into a single operating region, which became effective in the fourth quarter of 2012. | For the year ended December 31, 2012, the Company recorded charges totaling $24.1 million related to the restructuring that the Company announced in September 2012 (the “September 2012 Program”), which primarily involved the Company exiting its owned manufacturing facility in France and its leased manufacturing facility in Maryland; rightsizing its organizations in France and Italy; and realigning its operations in Latin America, including consolidating Latin America and Canada into a single operating region, which became effective in the fourth quarter of 2012. Certain of the actions were subject to consultations with employees, works councils or unions, and government authorities, which have substantially been concluded as of December 31, 2012. Of the $24.1 million charge: (a) $20.7 million is recorded in restructuring charges; (b) $1.6 million is recorded as a reduction to net sales; (c) $1.2 million is recorded in cost of goods sold; and (d) $0.6 million is recorded in SG&A expenses. Included within the $20.7 million restructuring charges is a net pension curtailment gain of $1.5 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company expects to recognize approximately $1 million of additional charges in 2013 for a total of approximately $25 million in charges related to the September 2012 Program. The Company expects to pay cash of approximately $24 million related to the September 2012 Program, of which $3.8 million was paid in 2012 and the remainder is expected to be paid in 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of the restructuring and related charges incurred through September 30, 2013 and expected to be incurred for the September 2012 Program, are as follows: | 2009 Programs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In May 2009, the Company announced a worldwide restructuring (the “May 2009 Program”), which involved consolidating certain functions; reducing layers of management, where appropriate, to increase accountability and effectiveness; streamlining support functions to reflect the new organizational structure; and further consolidating the Company’s office facilities in New Jersey. In the first quarter of 2009, the Company also announced restructuring actions in the U.K., Mexico and Argentina (together with the May 2009 Program, the “2009 Programs”). The $0.3 million remaining balance under the 2009 Programs is expected to be paid out in 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Details of the restructuring activity described above during 2012, 2011 and 2010 are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Charges and Other, Net | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee | Other | Total | Returns(a) | Inventory | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Severance | Restructuring | Write-offs(b) | Charges(c) | Restructuring | Utilized, Net | |||||||||||||||||||||||||||||||||||||||||||||||||
and Other | Charges and | and Related | Balance | (Income) | Foreign | Cash | Noncash | Balance | ||||||||||||||||||||||||||||||||||||||||||||||
Personnel | Other, Net | Charges | Beginning | Expenses, | Currency | End of | ||||||||||||||||||||||||||||||||||||||||||||||||
Benefits | of Year | Net | Translation | Year | ||||||||||||||||||||||||||||||||||||||||||||||||||
Charges incurred through December 31, 2012(d) | $ | 18.4 | $ | 2.3 | $ | 20.7 | $ | 1.6 | $ | 1.2 | $ | 0.6 | $ | 24.1 | 2012 | |||||||||||||||||||||||||||||||||||||||
Charges (benefits) incurred for the nine months ended September 30, 2013(e) | 2.6 | (0.8 | ) | 1.8 | — | 0.2 | 0.2 | 2.2 | Employee severance and other personnel benefits: | |||||||||||||||||||||||||||||||||||||||||||||
September 2012 Program | $ | — | $ | 18.4 | $ | 0.4 | $ | (2.3 | ) | $ | 1.5 | $ | 18 | |||||||||||||||||||||||||||||||||||||||||
Cumulative charges incurred through September 30, 2013 | $ | 21 | $ | 1.5 | $ | 22.5 | $ | 1.6 | $ | 1.4 | $ | 0.8 | $ | 26.3 | Other: | |||||||||||||||||||||||||||||||||||||||
September 2012 Program | — | 2.3 | — | (0.6 | ) | (0.8 | ) | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Total expected net charges | $ | 21 | $ | 1.7 | $ | 22.7 | $ | 1.6 | $ | 1.4 | $ | 0.8 | $ | 26.5 | Lease exit | 1 | — | — | (0.7 | ) | — | 0.3 | ||||||||||||||||||||||||||||||||
Total restructuring charges | $ | 1 | $ | 20.7 | $ | 0.4 | $ | (3.6 | ) | $ | 0.7 | $ | 19.2 | |||||||||||||||||||||||||||||||||||||||||
(a) | Returns are recorded as a reduction to net sales in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Inventory write-offs are recorded within cost of sales in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss). | 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Other charges are recorded within SG&A expenses within the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss). | Employee severance and other personnel benefits: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Included within the $18.4 million of employee severance and other personnel benefits is a net pension curtailment gain of $1.5 million recognized in the year ended December 31, 2012. | 2009 Programs | $ | 1 | $ | — | $ | — | $ | (1.0 | ) | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||
(e) | Included within the $(0.8) million of other is a $2.5 million gain on the July 2013 sale of the Company’s manufacturing facility in France, which was recognized in the third quarter of 2013. | Lease exit | 1.6 | — | — | (0.6 | ) | — | 1 | |||||||||||||||||||||||||||||||||||||||||||||
The Company expects net cash payments to total approximately $24 million related to the September 2012 Program, of which $3.8 million was paid in 2012, $13.3 million was paid during the nine months ended September 30, 2013, approximately $4 million is expected to be paid during the fourth quarter of 2013 and the remainder in expected to be paid in 2014. The total expected net cash payments of $24 million include cash proceeds of $2.7 million received in the third quarter of 2013 related to the sale of the Company’s manufacturing facility in France. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Details of the movements in the restructuring reserve during the first nine months of 2013 are as follows: | Total restructuring charges | $ | 2.6 | $ | — | $ | — | $ | (1.6 | ) | $ | — | $ | 1 | ||||||||||||||||||||||||||||||||||||||||
2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | (Income) | Foreign | Balance as of | Employee severance and other personnel benefits: | ||||||||||||||||||||||||||||||||||||||||||||||||||
as of January 1, | Expense, Net(a) | Currency | Utilized, Net | September 30, | 2008 Programs | $ | 0.3 | $ | — | $ | — | $ | (0.3 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
2013 | Translation | Cash | Noncash | 2013 | 2009 Programs | 7.6 | (0.2 | ) | — | (6.4 | ) | — | 1 | |||||||||||||||||||||||||||||||||||||||||
September 2012 Program: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee severance and other personnel benefits | $ | 18 | $ | 2.6 | $ | (0.2 | ) | $ | (13.5 | ) | $ | — | $ | 6.9 | 7.9 | (0.2 | ) | — | (6.7 | ) | — | 1 | ||||||||||||||||||||||||||||||||
Other | 0.9 | 1.7 | — | (2.3 | ) | — | 0.3 | Lease exit | 2.3 | (0.1 | ) | — | (0.6 | ) | — | 1.6 | ||||||||||||||||||||||||||||||||||||||
Lease exit | 0.3 | — | — | (0.3 | ) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Total restructuring charges | $ | 10.2 | $ | (0.3 | ) | $ | — | $ | (7.3 | ) | $ | — | $ | 2.6 | ||||||||||||||||||||||||||||||||||||||||
Total restructuring reserve | $ | 19.2 | 4.3 | $ | (0.2 | ) | $ | (16.1 | ) | $ | — | $ | 7.2 | |||||||||||||||||||||||||||||||||||||||||
Gain on sale of France facility | (2.5 | ) | As of December 31, 2012, 2011 and 2010, the unpaid balance of the restructuring charges were included in “Accrued expenses and other” and “Other long-term liabilities” in the Company’s Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total restructuring charges and other, net | $ | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | During the nine months ended September 30, 2013, the Company recorded additional charges related to the September 2012 Program primarily due to changes in estimates related to severance and other termination benefits, partially offset by a $2.5 million gain on the July 2013 sale of the Company’s manufacturing facility in France. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, the restructuring reserve balance was included within accrued expenses and other in the Company’s Consolidated Balance Sheets. |
INVENTORIES
INVENTORIES | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||||
INVENTORIES | ' | ' | ||||||||||||||||
4. INVENTORIES | 4. INVENTORIES | |||||||||||||||||
September 30, | December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||
Raw materials and supplies | $ | 37.8 | $ | 36.6 | Raw materials and supplies | $ | 36.6 | $ | 37.9 | |||||||||
Work-in-process | 12.4 | 8.8 | Work-in-process | 8.8 | 8.1 | |||||||||||||
Finished goods | 92 | 69.3 | Finished goods | 69.3 | 65 | |||||||||||||
$ | 142.2 | $ | 114.7 | $ | 114.7 | $ | 111 | |||||||||||
PREPAID_EXPENSES_AND_OTHER
PREPAID EXPENSES AND OTHER | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Text Block [Abstract] | ' | ||||||||
PREPAID EXPENSES AND OTHER | ' | ||||||||
5. PREPAID EXPENSES AND OTHER | |||||||||
December 31, | |||||||||
2012 | 2011 | ||||||||
Prepaid expenses | $ | 20.7 | $ | 18.2 | |||||
Receivable from Revlon, Inc. | 75.1 | 64.2 | |||||||
Other | 24.7 | 25.2 | |||||||
$ | 120.5 | $ | 107.6 | ||||||
PROPERTY_PLANT_AND_EQUIPMENT_N
PROPERTY, PLANT AND EQUIPMENT, NET | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
PROPERTY, PLANT AND EQUIPMENT, NET | ' | ||||||||
6. PROPERTY, PLANT AND EQUIPMENT, NET | |||||||||
December 31, | |||||||||
2012 | 2011 | ||||||||
Land and improvements | $ | 1.9 | $ | 1.9 | |||||
Building and improvements | 62.3 | 63.1 | |||||||
Machinery, equipment and capital leases | 142.7 | 139.7 | |||||||
Office furniture, fixtures and capitalized software | 87.3 | 82 | |||||||
Leasehold improvements | 12.5 | 12.3 | |||||||
Construction-in-progress | 18.8 | 10.5 | |||||||
325.5 | 309.5 | ||||||||
Accumulated depreciation | (226.0 | ) | (210.6 | ) | |||||
$ | 99.5 | $ | 98.9 | ||||||
Depreciation expense for the years ended December 31, 2012, 2011 and 2010 was $22.8 million, $21.5 million and $19.5 million, respectively. |
GOODWILL_AND_INTANGIBLE_ASSETS
GOODWILL AND INTANGIBLE ASSETS, NET | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
GOODWILL AND INTANGIBLE ASSETS, NET | ' | ||||||||||||||||
7. GOODWILL AND INTANGIBLE ASSETS, NET | |||||||||||||||||
Goodwill | |||||||||||||||||
The following table presents the changes in goodwill during the years ended December 31, 2011 and 2012: | |||||||||||||||||
Balance at January 1, 2011 | $ | 182.7 | |||||||||||||||
Goodwill acquired | 12.1 | ||||||||||||||||
Foreign currency translation adjustment | (0.1 | ) | |||||||||||||||
Balance at December 31, 2011 | 194.7 | ||||||||||||||||
Goodwill acquired | 23.1 | ||||||||||||||||
Foreign currency translation adjustment | — | ||||||||||||||||
Balance at December 31, 2012 | $ | 217.8 | |||||||||||||||
The goodwill acquired during the years ended December 31, 2012 and 2011 relate to the Pure Ice Acquisition and the SinfulColors Acquisition, respectively. See Note 2, “Business Acquisitions” for further discussion of the above. | |||||||||||||||||
Intangible Assets, Net | |||||||||||||||||
The following table presents details of the Company’s total purchased intangible assets: | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Gross | Accumulated | Net | Weighted | ||||||||||||||
Carrying | Amortization | Intangible | Average Useful | ||||||||||||||
Amount | Assets | Life (in Years) | |||||||||||||||
Finite-lived intangible assets: | |||||||||||||||||
Customer relationships | $ | 48.8 | $ | (2.9 | ) | $ | 45.9 | 18 | |||||||||
Trademarks | 38.1 | (16.3 | ) | 21.8 | 10 | ||||||||||||
Patents | 11.6 | (10.5 | ) | 1.1 | 10 | ||||||||||||
$ | 98.5 | $ | (29.7 | ) | $ | 68.8 | |||||||||||
December 31, 2011 | |||||||||||||||||
Gross | Accumulated | Net | Weighted | ||||||||||||||
Carrying | Amortization | Intangible | Average Useful | ||||||||||||||
Amount | Assets | Life (in Years) | |||||||||||||||
Finite-lived intangible assets: | |||||||||||||||||
Customer relationships | $ | 15.5 | $ | (0.9 | ) | $ | 14.6 | 14 | |||||||||
Trademarks | 27.4 | (13.9 | ) | 13.5 | 10 | ||||||||||||
Patents | 11.4 | (10.3 | ) | 1.1 | 10 | ||||||||||||
$ | 54.3 | $ | (25.1 | ) | $ | 29.2 | |||||||||||
Amortization expense for finite-lived intangible assets was $4.6 million, $2.8 million and $1.4 million for 2012, 2011 and 2010, respectively. | |||||||||||||||||
The following table reflects the estimated future amortization expense for finite-lived intangible assets as of December 31, 2012: | |||||||||||||||||
Estimated | |||||||||||||||||
Amortization | |||||||||||||||||
Expense | |||||||||||||||||
2013 | $ | 6 | |||||||||||||||
2014 | 5.8 | ||||||||||||||||
2015 | 5.7 | ||||||||||||||||
2016 | 5.5 | ||||||||||||||||
2017 | 5.4 | ||||||||||||||||
Thereafter | 40.4 | ||||||||||||||||
Total | $ | 68.8 | |||||||||||||||
ACCRUED_EXPENSES_AND_OTHER
ACCRUED EXPENSES AND OTHER | 12 Months Ended | |||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||
ACCRUED EXPENSES AND OTHER | ' | ' | ||||||||||||||||
5. ACCRUED EXPENSES AND OTHER | 8. ACCRUED EXPENSES AND OTHER | |||||||||||||||||
September 30, | December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||
Sales returns and allowances | $ | 69.8 | $ | 87 | Sales returns and allowances | $ | 87 | $ | 85.4 | |||||||||
Advertising and promotional costs | 42.7 | 38.6 | Advertising and promotional costs | 38.6 | 32.2 | |||||||||||||
Compensation and related benefits | 40.1 | 56.4 | Compensation and related benefits | 56.4 | 52 | |||||||||||||
Taxes | 17.5 | 15.5 | Restructuring costs | 19.2 | 0.6 | |||||||||||||
Interest | 7.4 | 13.7 | Interest | 13.7 | 15.1 | |||||||||||||
Restructuring reserve | 7.2 | 19.2 | Taxes | 15.5 | 15.6 | |||||||||||||
Other | 40.1 | 34.3 | Other | 34.3 | 29.1 | |||||||||||||
$ | 224.8 | $ | 264.7 | $ | 264.7 | $ | 230 | |||||||||||
SHORTTERM_BORROWINGS
SHORT-TERM BORROWINGS | 12 Months Ended |
Dec. 31, 2012 | |
Debt Disclosure [Abstract] | ' |
SHORT-TERM BORROWINGS | ' |
9. SHORT-TERM BORROWINGS | |
Products Corporation had outstanding short-term bank borrowings (excluding borrowings under the 2011 Credit Agreements, which are reflected in Note 10, “Long-Term Debt”), aggregating $5.0 million and $5.9 million at December 31, 2012 and 2011, respectively. The weighted average interest rate on these short-term borrowings outstanding at December 31, 2012 and 2011 was 6.0% and 6.0%, respectively. |
LONGTERM_DEBT
LONG-TERM DEBT | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
LONG-TERM DEBT | ' | ||||||||
10. LONG-TERM DEBT | |||||||||
December 31, | |||||||||
2012 | 2011 | ||||||||
2011 Term Loan Facility due 2017, net of discounts (See (a) below) | $ | 780.9 | $ | 787.6 | |||||
2011 Revolving Credit Facility due 2016 (See (a) below) | — | — | |||||||
9 3/4% Senior Secured Notes due 2015, net of discounts (See (b) below) | 328 | 327.4 | |||||||
Contributed Loan portion of the Amended and Restated Senior Subordinated Term Loan due 2013 (See (c) below) | 48.6 | — | |||||||
Contributed Loan portion of the Senior Subordinated Term Loan due 2013 (See (c) below) | — | 48.6 | |||||||
Non-Contributed Loan portion of the Amended and Restated Senior Subordinated Term Loan due 2014 (See (c) below) | 58.4 | — | |||||||
December 31, | |||||||||
2012 | 2011 | ||||||||
Non-Contributed Loan portion of the Senior Subordinated Term Loan due 2014 (See (c) below) | — | 58.4 | |||||||
1,215.90 | 1,222.00 | ||||||||
Less current portion of long-term debt (*) | (21.5 | ) | (8.0 | ) | |||||
Less current portion of long-term debt — affiliates (See (c) below) | (48.6 | ) | — | ||||||
$ | 1,145.80 | $ | 1,214.00 | ||||||
(*) | The Company classified $21.5 million of long-term debt as a current liability, which is comprised of the Company’s regularly scheduled $2.0 million principal repayment due on March 31, 2013 as well as the required “excess cash flow” payment (as defined under the 2011 Term Loan Agreement) to be made in 2013. (See below under “2011 Credit Agreements”). | ||||||||
The Company completed several debt transactions during 2012 and 2011. | |||||||||
2012 Transaction | |||||||||
Products Corporation was party to the Senior Subordinated Term Loan Agreement, consisting of (i) the $58.4 million Non-Contributed Loan (as hereinafter defined) which matures on October 8, 2014, and (ii) the $48.6 million Contributed Loan (as hereinafter defined) which matures on October 8, 2013. On April 30, 2012, MacAndrews & Forbes exercised its right to assign its interest in the Non-Contributed Loan to various third parties. In connection with such assignment, Products Corporation entered into an Amended and Restated Senior Subordinated Term Loan Agreement with MacAndrews & Forbes (the “Amended and Restated Senior Subordinated Term Loan Agreement”) to: (1) modify the interest rate on the Non-Contributed Loan from its prior 12% fixed rate to a floating rate of LIBOR plus 7%, with a 1.5% LIBOR floor, resulting in an interest rate of approximately 8.5% per annum (or a 3.5% reduction per annum) upon the effectiveness of the Amended and Restated Senior Subordinated Term Loan Agreement; (2) insert certain prepayment premiums; and (3) designate Citibank, N.A. as the administrative agent for the Non-Contributed Loan. Refer to “Amended and Restated Senior Subordinated Term Loan Agreement” below for further discussion. | |||||||||
2011 Transactions | |||||||||
Refinancings of the 2010 Term Loan and 2010 Revolving Credit Facilities: During 2011, Products Corporation consummated the 2011 Refinancings (as hereinafter defined), reducing interest rates and extending maturities, consisting of the following transactions: | |||||||||
• | In May 2011, Products Corporation consummated a refinancing of the 2010 Term Loan Facility (the “2011 Term Loan Facility Refinancing”), which included replacing Products Corporation’s 2010 bank term loan facility, which was scheduled to mature on March 11, 2015 and had $794.0 million aggregate principal amount outstanding at December 31, 2010 (the “2010 Term Loan Facility”), with a 6.5-year, $800.0 million term loan facility due November 19, 2017 (the “2011 Term Loan Facility”) under a third amended and restated term loan agreement dated May 19, 2011 (the “2011 Term Loan Agreement”), among Products Corporation, as borrower, Citigroup Global Markets Inc. (“CGMI”), J.P. Morgan Securities LLC (“JPM Securities”), Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”), Credit Suisse Securities (USA) LLC (“Credit Suisse”) and Wells Fargo Securities, LLC (“WFS”), as the joint lead arrangers; CGMI, JPM Securities, Merrill Lynch, Credit Suisse, WFS and Natixis, New York Branch (“Natixis”), as joint bookrunners; JPMorgan Chase Bank, N.A. and Bank of America, N.A., as co-syndication agents; Credit Suisse, Wells Fargo Bank, N.A. and Natixis, as co-documentation agents; and Citicorp USA, Inc. (“CUSA”) as administrative agent and collateral agent. | ||||||||
Products Corporation used $796 million of proceeds from the 2011 Term Loan Facility, which was drawn in full on the May 19, 2011 closing date and issued to lenders at 99.5% of par, to repay in full the $792.0 million of then outstanding indebtedness under its 2010 Term Loan Facility and to pay approximately $2 million of accrued interest. Products Corporation incurred $3.6 million of fees in connection with consummating the 2011 Term Loan Facility Refinancing, of which $1.9 million was capitalized. | |||||||||
• | In June 2011, Products Corporation consummated a refinancing of the 2010 Revolving Credit Facility (the “2011 Revolving Credit Facility Refinancing” and together with the 2011 Term Loan Facility Refinancing, the “2011 Refinancings”), which included refinancing Products Corporation’s 2010 revolving credit facility, which was scheduled to mature on March 11, 2014 and had nil outstanding borrowings at December 31, 2010 (the “2010 Revolving Credit Facility”), with a 5-year, $140.0 million asset-based, multi-currency revolving credit facility due June 16, 2016 (the “2011 Revolving Credit Facility”) under a third amended and restated revolving credit agreement dated June 16, 2011 (the “2011 Revolving Credit Agreement” and together with the 2011 Term Loan Agreement, the “2011 Credit Agreements”), among Products Corporation and certain of its foreign subsidiaries, as borrowers, and CGMI and Wells Fargo Capital Finance, LLC (“WFCF”), as the joint lead arrangers; CGMI, WFCF, Merrill Lynch, JPMorgan Securities and Credit Suisse, as joint bookrunners; and CUSA as administrative agent and collateral agent. | ||||||||
Products Corporation incurred $0.7 million of fees in connection with consummating the 2011 Revolving Credit Facility Refinancing, all of which were capitalized. | |||||||||
As a result of the 2011 Refinancings, the Company recognized a loss on the early extinguishment of debt of $11.2 million during 2011, due to $1.7 million of fees which were expensed as incurred in connection with the 2011 Refinancings, as well as the write-off of $9.5 million of unamortized debt discount and deferred financing fees as a result of such refinancings. | |||||||||
(a) 2011 Credit Agreements | |||||||||
2011 Revolving Credit Facility | |||||||||
The following is a summary description of the 2011 Revolving Credit Facility. Unless otherwise indicated, capitalized terms have the meanings given to them in the 2011 Revolving Credit Agreement. This description is subject to a number of qualifications and exceptions which are specified in the 2011 Revolving Credit Agreement. | |||||||||
Availability under the 2011 Revolving Credit Facility varies based on a borrowing base that is determined by the value of eligible accounts receivable and eligible inventory in the U.S. and the U.K. and eligible real property and equipment in the U.S. from time to time. | |||||||||
In each case subject to borrowing base availability, the 2011 Revolving Credit Facility is available to: | |||||||||
(i) | Products Corporation in revolving credit loans denominated in U.S. dollars; | ||||||||
(ii) | Products Corporation in swing line loans denominated in U.S. dollars up to $30.0 million; | ||||||||
(iii) | Products Corporation in standby and commercial letters of credit denominated in U.S. dollars and other currencies up to $60.0 million; and | ||||||||
(iv) | Products Corporation and certain of its international subsidiaries designated from time to time in revolving credit loans and bankers’ acceptances denominated in U.S. dollars and other currencies. | ||||||||
If the value of the eligible assets is not sufficient to support the $140.0 million borrowing base under the 2011 Revolving Credit Facility, Products Corporation will not have full access to the 2011 Revolving Credit Facility. Products Corporation’s ability to borrow under the 2011 Revolving Credit Facility is also conditioned upon the satisfaction of certain conditions precedent and Products Corporation’s compliance with other covenants in the 2011 Revolving Credit Agreement. | |||||||||
Under the 2011 Revolving Credit Facility, borrowings (other than loans in foreign currencies) bear interest, if made as Eurodollar Loans, at the Eurodollar Rate, plus the applicable margin set forth in the grid below and, if made as Alternate Base Rate loans, at the Alternate Base Rate, plus the applicable margin set forth in the grid below: | |||||||||
Excess Availability | Alternate Base | Eurodollar | |||||||
Rate Loans | Loans, | ||||||||
Eurocurrency | |||||||||
Loans or Local | |||||||||
Rate Loans | |||||||||
Greater than or equal to $92,000,000 | 1 | % | 2 | % | |||||
Less than $92,000,000 but greater than or equal to $46,000,000 | 1.25 | % | 2.25 | % | |||||
Less than $46,000,000 | 1.5 | % | 2.5 | % | |||||
Local Loans bear interest, if mutually acceptable to Products Corporation and the relevant foreign lenders, at the Local Rate, and otherwise (i) if in foreign currencies or in U.S. dollars at the Eurodollar Rate or the Eurocurrency Rate plus the applicable margin set forth in the grid above or (ii) if in U.S. dollars at the Alternate Base Rate plus the applicable margin set forth in the grid above. | |||||||||
Prior to the termination date of the 2011 Revolving Credit Facility, revolving loans are required to be prepaid (without any permanent reduction in commitment) with: | |||||||||
(i) the net cash proceeds from sales of Revolving Credit First Lien Collateral by Products Corporation or any of its subsidiary guarantors (other than dispositions in the ordinary course of business and certain other exceptions); and | |||||||||
(ii) the net proceeds from the issuance by Products Corporation or any of its subsidiaries of certain additional debt, to the extent there remains any such proceeds after satisfying Products Corporation’s repayment obligations under the 2011 Term Loan Facility. | |||||||||
Products Corporation pays to the lenders under the 2011 Revolving Credit Facility a commitment fee of 0.375% of the average daily unused portion of the 2011 Revolving Credit Facility, which fee is payable quarterly in arrears. Under the 2011 Revolving Credit Facility, Products Corporation also pays: | |||||||||
(i) to foreign lenders, a fronting fee of 0.25% per annum on the aggregate principal amount of specified Local Loans (which fee is retained by foreign lenders out of the portion of the Applicable Margin payable to such foreign lender); | |||||||||
(ii) to foreign lenders, an administrative fee of 0.25% per annum on the aggregate principal amount of specified Local Loans; | |||||||||
(iii) to the multi-currency lenders, a letter of credit commission equal to the product of (a) the Applicable Margin for revolving credit loans that are Eurodollar Rate loans (adjusted for the term that the letter of credit is outstanding) and (b) the aggregate undrawn face amount of letters of credit; and | |||||||||
(iv) to the issuing lender, a letter of credit fronting fee of 0.25% per annum of the aggregate undrawn face amount of letters of credit, which fee is a portion of the Applicable Margin. | |||||||||
Under certain circumstances, Products Corporation has the right to request that the 2011 Revolving Credit Facility be increased by up to $60.0 million, provided that the lenders are not committed to provide any such increase. | |||||||||
Under certain circumstances, if and when the difference between (i) the borrowing base under the 2011 Revolving Credit Facility and (ii) the amounts outstanding under the 2011 Revolving Credit Facility is less than $20.0 million for a period of two consecutive days or more, and until such difference is equal to or greater than $20.0 million for a period of 30 consecutive business days, the 2011 Revolving Credit Facility requires Products Corporation to maintain a consolidated fixed charge coverage ratio (the ratio of EBITDA minus Capital Expenditures to Cash Interest Expense for such period) of a minimum of 1.0 to 1.0. | |||||||||
The 2011 Revolving Credit Facility matures on June 16, 2016; provided, however, it will mature on August 15, 2015, if Products Corporation’s 9 3/4% Senior Secured Notes have not been refinanced, redeemed, repurchased, defeased or repaid in full on or before such date. See Note 22, “Subsequent Events – 2013 Senior Notes Refinancing,” for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. | |||||||||
2011 Term Loan Facility | |||||||||
The following is a summary description of the 2011 Term Loan Facility. Unless otherwise indicated, capitalized terms have the meanings given to them in the 2011 Term Loan Agreement. This description is subject to a number of qualifications and exceptions which are specified in the 2011 Term Loan Agreement. | |||||||||
Under the 2011 Term Loan Facility, Eurodollar Loans bear interest at the Eurodollar Rate plus 3.50% per annum (with the Eurodollar Rate not to be less than 1.25%) and Alternate Base Rate loans bear interest at the Alternate Base Rate plus 2.50% (with the Alternate Base Rate not to be less than 2.25%). | |||||||||
Prior to the November 2017 termination date of the 2011 Term Loan Facility, on September 30, December 31, March 31 and June 30 of each year, Products Corporation is required to repay $2 million of the principal amount of the term loans outstanding under the 2011 Term Loan Facility on each respective date. In addition, the term loans under the 2011 Term Loan Facility are required to be prepaid with: | |||||||||
(i) the net cash proceeds in excess of $10 million for each 12-month period ending on March 31 received during such period from sales of Term Loan First Lien Collateral by Products Corporation or any of its subsidiary guarantors with carryover of unused annual basket amounts up to a maximum of $25 million and with respect to certain specified dispositions, up to an additional $25 million in the aggregate (subject to a reinvestment right for 365 days, or 545 days if Products Corporation has within such 365-day period entered into a legally binding commitment to invest such funds); | |||||||||
(ii) the net proceeds from the issuance by Products Corporation or any of its subsidiaries of certain additional debt; and | |||||||||
(iii) 50% of Products Corporation’s “excess cash flow”, commencing with excess cash flow for the 2012 fiscal year payable in the first 100 days of 2013, which prepayments are applied to reduce Products Corporation’s future regularly scheduled term loan amortization payments in the direct order of maturities. | |||||||||
In addition to its regularly scheduled $2.0 million principal repayment due on March 31, 2013, prior to April 10, 2013, Products Corporation will also be required to repay approximately $19.5 million of indebtedness under the 2011 Term Loan Facility, representing 50% of its 2012 “excess cash flow” (as defined under the 2011 Term Loan Agreement), which repayment would satisfy Products Corporation’s future regularly scheduled term loan amortization payments in the direct order of maturities beginning in June 2013 through September 2015. | |||||||||
The 2011 Term Loan Facility contains a financial covenant limiting Products Corporation’s first lien senior secured leverage ratio (the ratio of Products Corporation’s Senior Secured Debt that has a lien on the collateral which secures the 2011 Term Loan Facility that is not junior or subordinated to the liens securing the 2011 Term Loan Facility (excluding debt outstanding under the 2011 Revolving Credit Facility) to EBITDA), to no more than 4.0 to 1.0 for each period of four consecutive fiscal quarters through the November 2017 maturity date of the 2011 Term Loan Facility. | |||||||||
Under certain circumstances, Products Corporation has the right to request the 2011 Term Loan Facility to be increased by up to $300 million, provided that the lenders are not committed to provide any such increase. | |||||||||
The 2011 Term Loan Facility matures on November 19, 2017; provided, however, it will mature on August 15, 2015, if Products Corporation’s 9 3/4% Senior Secured Notes have not been refinanced, redeemed, repurchased, defeased or repaid in full on or before such date. See Note 22, “Subsequent Events — 2013 Senior Notes Refinancing,” for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. | |||||||||
Provisions Applicable to the 2011 Revolving Credit Facility and the 2011 Term Loan Facility | |||||||||
The 2011 Revolving Credit Facility and 2011 Term Loan Facility (herein referred to as the “2011 Credit Facilities”) are supported by, among other things, guarantees from Revlon, Inc. and, subject to certain limited exceptions, Products Corporation’s domestic subsidiaries. The obligations of Products Corporation under the 2011 Credit Facilities and the obligations under such guarantees are secured by, subject to certain limited exceptions, substantially all of the assets of Products Corporation and the guarantors, including: | |||||||||
(i) a mortgage on owned real property, including Products Corporation’s facility in Oxford, North Carolina; | |||||||||
(ii) the capital stock of Products Corporation and the subsidiary guarantors and 66% of the voting capital stock and 100% of the non-voting capital stock of Products Corporation’s and the subsidiary guarantors’ first-tier, non-U.S. subsidiaries; | |||||||||
(iii) intellectual property and other intangible property of Products Corporation and the subsidiary guarantors; and | |||||||||
(iv) inventory, accounts receivable, equipment, investment property and deposit accounts of Products Corporation and the subsidiary guarantors. | |||||||||
The liens on, among other things, inventory, accounts receivable, deposit accounts, investment property (other than the capital stock of Products Corporation and its subsidiaries), real property, equipment, fixtures and certain intangible property (the ‘‘Revolving Credit First Lien Collateral’’) secure the 2011 Revolving Credit Facility on a first priority basis, the 2011 Term Loan Facility on a second priority basis and Products Corporation’s 9 3/4% Senior Secured Notes and the related guarantees on a third priority basis. The liens on the capital stock of Products Corporation and its subsidiaries and intellectual property and certain other intangible property (the ‘‘Term Loan First Lien Collateral’’) secure the 2011 Term Loan Facility on a first priority basis and the 2011 Revolving Credit Facility and the 9 3/4% Senior Secured Notes and the related guarantees on a second priority basis. Such arrangements are set forth in the Third Amended and Restated Intercreditor and Collateral Agency Agreement, dated as of March 11, 2010, by and among Products Corporation and CUSA, as administrative agent and as collateral agent for the benefit of the secured parties for the 2011 Term Loan Facility, 2011 Revolving Credit Facility and the 9 3/4% Senior Secured Notes (the ‘‘2010 Intercreditor Agreement’’). The 2010 Intercreditor Agreement also provides that the liens referred to above may be shared from time to time, subject to certain limitations, with specified types of other obligations incurred or guaranteed by Products Corporation, such as foreign exchange and interest rate hedging obligations and foreign working capital lines. | |||||||||
The 2011 Credit Facilities contain various restrictive covenants prohibiting Products Corporation and its subsidiaries from: | |||||||||
(i) incurring additional indebtedness or guarantees, with certain exceptions; | |||||||||
(ii) making dividend and other payments or loans to Revlon, Inc. or other affiliates, with certain exceptions, including among others: | |||||||||
(a) exceptions permitting Products Corporation to pay dividends or make other payments to Revlon, Inc. to enable it to, among other things, pay expenses incidental to being a public holding company, including, among other things, professional fees such as legal, accounting and insurance fees, regulatory fees, such as SEC filing fees and NYSE listing fees, and other expenses related to being a public holding company; | |||||||||
(b) subject to certain circumstances, to finance the purchase by Revlon, Inc. of its Class A Common Stock in connection with the delivery of such Class A Common Stock to grantees under the Third Amended and Restated Revlon, Inc. Stock Plan and/or the payment of withholding taxes in connection with the vesting of restricted stock awards under such plan; | |||||||||
(c) subject to certain limitations, to pay dividends or make other payments to finance the purchase, redemption or other retirement for value by Revlon, Inc. of stock or other equity interests or equivalents in Revlon, Inc. held by any current or former director, employee or consultant in his or her capacity as such; and | |||||||||
(d) subject to certain limitations, to make other restricted payments to affiliates of Products Corporation in an amount up to $10 million per year (plus $10 million for each calendar year commencing with 2011), other restricted payments in an aggregate amount not to exceed $35 million and other restricted payments based upon certain financial tests. | |||||||||
(iii) creating liens or other encumbrances on Products Corporation’s or its subsidiaries’ assets or revenues, granting negative pledges or selling or transferring any of Products Corporation’s or its subsidiaries’ assets, all subject to certain limited exceptions; | |||||||||
(iv) with certain exceptions, engaging in merger or acquisition transactions; | |||||||||
(v) prepaying indebtedness and modifying the terms of certain indebtedness and specified material contractual obligations, subject to certain exceptions; | |||||||||
(vi) making investments, subject to certain exceptions; and | |||||||||
(vii) entering into transactions with affiliates of Products Corporation involving aggregate payments or consideration in excess of $10 million other than upon terms that are not materially less favorable when taken as a whole to Products Corporation or its subsidiaries as terms that would be obtainable at the time for a comparable transaction or series of similar transactions in arm’s length dealings with an unrelated third person and where such payments or consideration exceed $20 million, unless such transaction has been approved by all of the independent directors of Products Corporation, subject to certain exceptions. | |||||||||
The events of default under the 2011 Credit Facilities include customary events of default for such types of agreements, including, among others: | |||||||||
(i) nonpayment of any principal, interest or other fees when due, subject in the case of interest and fees to a grace period; | |||||||||
(ii) non-compliance with the covenants in such 2011 Credit Facilities or the ancillary security documents, subject in certain instances to grace periods; | |||||||||
(iii) the institution of any bankruptcy, insolvency or similar proceedings by or against Products Corporation, any of Products Corporation’s subsidiaries or Revlon, Inc., subject in certain instances to grace periods; | |||||||||
(iv) default by Revlon, Inc. or any of its subsidiaries (A) in the payment of certain indebtedness when due (whether at maturity or by acceleration) in excess of $25.0 million in aggregate principal amount or (B) in the observance or performance of any other agreement or condition relating to such debt, provided that the amount of debt involved is in excess of $25.0 million in aggregate principal amount, or the occurrence of any other event, the effect of which default referred to in this subclause (iv) is to cause or permit the holders of such debt to cause the acceleration of payment of such debt; | |||||||||
(v) in the case of the 2011 Term Loan Facility, a cross default under the 2011 Revolving Credit Facility, and in the case of the 2011 Revolving Credit Facility, a cross default under the 2011 Term Loan Facility; | |||||||||
(vi) the failure by Products Corporation, certain of Products Corporation’s subsidiaries or Revlon, Inc. to pay certain material judgments; | |||||||||
(vii) a change of control such that (A) Revlon, Inc. shall cease to be the beneficial and record owner of 100% of Products Corporation’s capital stock, (B) Ronald O. Perelman (or his estate, heirs, executors, administrator or other personal representative) and his or their controlled affiliates shall cease to ‘‘control’’ Products Corporation, and any other person or group of persons owns, directly or indirectly, more than 35% of the total voting power of Products Corporation, (C) any person or group of persons other than Ronald O. Perelman (or his estate, heirs, executors, administrator or other personal representative) and his or their controlled affiliates shall ‘‘control’’ Products Corporation or (D) during any period of two consecutive years, the directors serving on Products Corporation’s Board of Directors at the beginning of such period (or other directors nominated by at least a majority of such continuing directors) shall cease to be a majority of the directors; | |||||||||
(viii) Revlon, Inc. shall have any meaningful assets or indebtedness or shall conduct any meaningful business other than its ownership of Products Corporation and such activities as are customary for a publicly-traded holding company which is not itself an operating company, in each case subject to limited exceptions; and | |||||||||
(ix) the failure of certain of Products Corporation’s affiliates which hold Products Corporation’s or its subsidiaries’ indebtedness to be party to a valid and enforceable agreement prohibiting such affiliate from demanding or retaining payments in respect of such indebtedness, subject to certain exceptions, including as to Products Corporation’s Amended and Restated Senior Subordinated Term Loan. | |||||||||
If Products Corporation is in default under the senior secured leverage ratio under the 2011 Term Loan Facility or the consolidated fixed charge coverage ratio under the 2011 Revolving Credit Agreement, Products Corporation may cure such default by issuing certain equity securities to, or receiving capital contributions from, Revlon, Inc. and applying such cash which is deemed to increase EBITDA for the purpose of calculating the applicable ratio. Products Corporation may exercise this cure right two times in any four-quarter period. | |||||||||
Products Corporation was in compliance with all applicable covenants under the 2011 Term Loan Agreement and 2011 Revolving Credit Agreement upon closing the respective 2011 Refinancings and as of December 31, 2012 and 2011. At December 31, 2012, the aggregate principal amount outstanding under the 2011 Term Loan Facility was $788 million and availability under the $140.0 million 2011 Revolving Credit Facility, based upon the calculated borrowing base less $10.4 million of outstanding undrawn letters of credit and nil then drawn on the 2011 Revolving Credit Facility, was $129.6 million. | |||||||||
(b) 9 3/4% Senior Secured Notes due 2015 | |||||||||
In November 2009, Products Corporation issued and sold $330.0 million in aggregate principal amount of the 9 3/4% Senior Secured Notes due November 15, 2015 (the “9 3/4% Senior Secured Notes”) in a private placement which was priced at 98.9% of par, receiving net proceeds (net of original issue discount and underwriters fees) of $319.8 million. Including the amortization of the original issue discount, the effective interest rate on the 9 3/4% Senior Secured Notes is 10%. In connection with and prior to the issuance of the 9 3/4% Senior Secured Notes, Products Corporation entered into amendments to its 2006 bank credit agreements to permit the issuance of the 9 3/4% Senior Secured Notes on a secured basis and incurred $4.7 million of related fees and expenses. The Company capitalized $4.5 million of such fees and expenses which was expensed upon such refinancing in March 2010. In connection with consummating such refinancing, the Company incurred $10.5 million of fees and expenses related to the issuance of the 9 3/4% Senior Secured Notes, all of which the Company capitalized and which is being amortized over the remaining life of the 9 3/4% Senior Secured Notes. | |||||||||
The $319.8 million of net proceeds, together with $42.6 million of other cash and borrowings under Products Corporation’s 2006 bank revolving credit facility (prior to its complete refinancing in March 2010), were used to repay or redeem all of the $340.5 million aggregate principal amount outstanding of Products Corporation’s 9 1/2% Senior Notes due April 1, 2011, plus an aggregate of $21.9 million for accrued interest, applicable redemption and tender premiums and fees and expenses related to refinancing the 9 1/2% Senior Notes, as well as the amendments to Products Corporation’s 2006 bank credit agreements (prior to their complete refinancing in March 2010) required to permit such refinancing to be conducted on a secured basis. Pursuant to a registration rights agreement, in July 2010, all of the original privately-placed 9 3/4% Senior Secured Notes were exchanged for new 9 3/4% Senior Secured Notes due 2015 that were registered under the Securities Act of 1933, as amended (the “Securities Act”), which new notes have substantially identical terms as the original notes, except that the new notes are registered with the SEC under the Securities Act and the transfer restrictions and registration rights applicable to the original notes do not apply to the new notes. | |||||||||
The 9 3/4% Senior Secured Notes were issued pursuant to an indenture, dated as of November 23, 2009 (the “9 3/4% Senior Secured Notes Indenture”), among Products Corporation, Revlon, Inc. and Products Corporation’s domestic subsidiaries (subject to certain limited exceptions) (the “Subsidiary Guarantors” and, collectively with Revlon, Inc., the “Guarantors”), which Guarantors also currently guarantee Products Corporation’s 2011 Credit Agreements, and U.S. Bank National Association, as trustee. The 9 3/4% Senior Secured Notes are supported by guarantees from the Guarantors. | |||||||||
The 9 3/4% Senior Secured Notes and the related guarantees are secured, subject to certain permitted liens: | |||||||||
• | together with the obligations under the 2011 Revolving Credit Agreement (on an equal and ratable basis), by a second-priority lien on the collateral that is subject to a first-priority lien securing Products Corporation’s obligations under the 2011 Term Loan Agreement (i.e., substantially all of Products Corporation’s and the Subsidiary Guarantors’ intellectual property and intangibles, all of the capital stock of Products Corporation and the Subsidiary Guarantors and 66% of the capital stock of Products Corporation’s and the Subsidiary Guarantors’ first-tier foreign subsidiaries and certain other assets of Products Corporation and the Subsidiary Guarantors (excluding the assets described below)), subject to certain limited exceptions; and | ||||||||
• | by a third-priority lien on the collateral that is subject to a first-priority lien securing Products Corporation’s obligations under the 2011 Revolving Credit Agreement (i.e., substantially all of Products Corporation’s and the Subsidiary Guarantors’ inventory, accounts receivable, equipment, investment property, deposit accounts and certain real estate), which collateral is also subject to a second-priority lien securing Products Corporation’s obligations under the 2011 Term Loan Agreement, subject to certain limited exceptions. | ||||||||
The liens securing the 9 3/4% Senior Secured Notes and the related guarantees are subject to the provisions of the 2010 Intercreditor Agreement, which, among other things, governs the priority of the liens on the collateral securing the 9 3/4% Senior Secured Notes and provides different rights as to enforcement, procedural provisions and other similar matters for holders of liens securing Products Corporation’s obligations under the 2011 Credit Agreements. | |||||||||
The 9 3/4% Senior Secured Notes are senior secured obligations of Products Corporation and rank pari passu in right of payment with all existing and future senior indebtedness of Products Corporation and the Guarantors, including the indebtedness under the 2011 Credit Agreements, and are senior in right of payment to all of Products Corporation’s and the Guarantors’ present and future indebtedness that is expressly subordinated in right of payment (including the Contributed Loan and the Non-Contributed Loan). The 9 3/4% Senior Secured Notes are effectively subordinated to the outstanding indebtedness and other liabilities of Products Corporation’s non-guarantor subsidiaries. The 9 3/4% Senior Secured Notes mature on November 15, 2015. Interest is payable on May 15 and November 15 of each year. | |||||||||
The 9 3/4% Senior Secured Notes may be redeemed at the option of Products Corporation in whole or in part at any time after November 15, 2012 at various fixed prices specified in the 9 3/4% Senior Secured Notes Indenture. | |||||||||
Upon a Change in Control (as defined in the 9 3/4% Senior Secured Notes Indenture), subject to certain conditions, each holder of the 9 3/4% Senior Secured Notes will have the right to require Products Corporation to repurchase all or a portion of such holder’s 9 3/4% Senior Secured Notes at a price equal to 101% of the principal amount, plus accrued and unpaid interest, if any, to the date of repurchase. | |||||||||
The 9 3/4% Senior Secured Notes Indenture contains covenants that, among other things, limit (i) the issuance of additional debt and redeemable stock by Products Corporation; (ii) the incurrence of liens; (iii) the issuance of debt and preferred stock by Products Corporation’s subsidiaries; (iv) the payment of dividends on capital stock of Products Corporation and its subsidiaries and the redemption of capital stock of Products Corporation and certain subordinated obligations; (v) the sale of assets and subsidiary stock by Products Corporation; (vi) transactions with affiliates of Products Corporation; (vii) consolidations, mergers and transfers of all or substantially all of Products Corporation’s assets; and (viii) certain restrictions on transfers of assets by or distributions from subsidiaries of Products Corporation. All of these limitations and prohibitions, however, are subject to a number of qualifications and exceptions, which are specified in the 9 3/4% Senior Secured Notes Indenture. | |||||||||
The 9 3/4% Senior Secured Notes Indenture contains customary events of default for debt instruments of such type and includes a cross acceleration provision which provides that it shall be an event of default if any debt (as defined in such indenture) of Products Corporation or any of its significant subsidiaries (as defined in such indenture) is not paid within any applicable grace period after final maturity or is accelerated by the holders of such debt because of a default and the total principal amount of the portion of such debt that is unpaid or accelerated exceeds $25.0 million and such default continues for 10 days after notice from the trustee under such indenture. If any such event of default occurs, the trustee under such indenture or the holders of at least 30% in aggregate principal amount of the outstanding notes under such indenture may declare all such notes to be due and payable immediately, provided that the holders of a majority in aggregate principal amount of the outstanding notes under such indenture may, by notice to the trustee, waive any such default or event of default and its consequences under such indenture. | |||||||||
See Note 22, “Subsequent Events — 2013 Senior Notes Refinancing,” for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. | |||||||||
(c) Amended and Restated Senior Subordinated Term Loan Agreement | |||||||||
In January 2008, Products Corporation entered into the Senior Subordinated Term Loan Agreement with MacAndrews & Forbes and on February 1, 2008 used the $170.0 million of proceeds from such loan to repay in full the $167.4 million remaining aggregate principal amount of Products Corporation’s 8 5/8% Senior Subordinated Notes, which matured on February 1, 2008, and to pay $2.55 million of related fees and expenses. In connection with such repayment, Products Corporation also used cash on hand to pay $7.2 million of accrued and unpaid interest due on the 8 5/8% Senior Subordinated Notes up to, but not including, the February 1, 2008 maturity date. | |||||||||
In September 2008, Products Corporation used $63.0 million of the net proceeds from the July 2008 sale of the Company’s Bozzano business in Brazil to partially repay $63.0 million of the outstanding aggregate principal amount of the Senior Subordinated Term Loan. Following such partial repayment, there remained outstanding $107.0 million in aggregate principal amount under such loan. In October 2009, Revlon, Inc. consummated a voluntary exchange offer transaction (the “2009 Exchange Offer”), in which MacAndrews & Forbes contributed to Revlon, Inc. $48.6 million of the $107.0 million aggregate outstanding principal amount of the Senior Subordinated Term Loan made by MacAndrews & Forbes to Products Corporation (the “Contributed Loan”) and the terms of the Senior Subordinated Term Loan Agreement were amended to extend the maturity date of the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. from August 2010 to October 8, 2013 and to change the annual interest rate on the Contributed Loan from 11% to 12.75%. The $48.6 million Contributed Loan represented $5.21 of outstanding principal amount under the Senior Subordinated Term Loan for each of the 9,336,905 shares of Class A Common Stock exchanged in the 2009 Exchange Offer, in which Revlon, Inc. issued to MacAndrews & Forbes 9,336,905 shares of Class A Common Stock at a ratio of one share of Class A Common Stock for each $5.21 of outstanding principal amount of the Senior Subordinated Term Loan contributed to Revlon, Inc. Upon consummation of the 2009 Exchange Offer, the terms of the Senior Subordinated Term Loan Agreement were also amended to extend the maturity date of the $58.4 million principal amount of the Senior Subordinated Term Loan which, at December 31, 2011, remained owing from Products Corporation to MacAndrews & Forbes (the “Non-Contributed Loan”) from August 2010 to October 8, 2014 and to change the annual interest rate on the Non-Contributed Loan from 11% to 12%. | |||||||||
On April 30, 2012, MacAndrews & Forbes exercised its right to assign its interest in the Non-Contributed Loan. In connection with such assignment, Products Corporation entered into an Amended and Restated Senior Subordinated Term Loan Agreement with MacAndrews & Forbes and a related Administrative Letter was entered into with Citibank, N.A. and MacAndrews & Forbes, to among other things: | |||||||||
(i) modify the interest rate on the Non-Contributed Loan from its prior 12% fixed rate to a floating rate of LIBOR plus 7%, with a 1.5% LIBOR floor, resulting in an interest rate of approximately 8.5% per annum through December 31, 2012 (or a 3.5% reduction per annum) upon the effectiveness of the Amended and Restated Senior Subordinated Term Loan Agreement. Interest under the Amended and Restated Senior Subordinated Term Loan Agreement is payable quarterly in arrears in cash; | |||||||||
(ii) insert prepayment premiums such that Products Corporation may optionally prepay the Non-Contributed Loan (i) through October 31, 2013 with a prepayment premium based on a formula designed to provide the assignees of the Non-Contributed Loan with the present value, using a discount rate of 75 basis points over U.S. Treasuries, of the principal, premium and interest that would have accrued on the Non-Contributed Loan from any such prepayment date through October 31, 2013 (provided that, pursuant to the loan’s terms (both before and after giving effect to these amendments), no portion of the principal amount of the Non-Contributed Loan may be repaid prior to its October 8, 2014 maturity date unless and until all shares of Revlon, Inc.’s Series A Preferred Stock, par value $0.01 per share (the “Preferred Stock”) have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full), (ii) from November 1, 2013 through April 30, 2014 with a 2% prepayment premium on the aggregate principal amount of the Non-Contributed Loan being prepaid, and (iii) from May 1, 2014 through maturity on October 8, 2014 with no prepayment premium; and | |||||||||
(iii) designate Citibank, N.A. as the administrative agent for the Non-Contributed Loan. | |||||||||
Concurrent with the effectiveness of the Amended and Restated Senior Subordinated Term Loan Agreement, MacAndrews & Forbes assigned its entire interest in the Non-Contributed Loan to several third parties. | |||||||||
Pursuant to the terms of the Contributed Loan, Products Corporation may, at its option, prepay such loan, in whole or in part (together with accrued and unpaid interest), at any time prior to its maturity date without premium or penalty, provided that prior to such loan’s maturity date all shares of Revlon, Inc.’s Preferred Stock have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full. | |||||||||
The Amended and Restated Senior Subordinated Term Loan is an unsecured obligation of Products Corporation and is subordinated in right of payment to all existing and future senior debt of Products Corporation, currently including indebtedness under Products Corporation’s 2011 Credit Agreements and its 9 3/4% Senior Secured Notes. The Amended and Restated Senior Subordinated Term Loan has the right to payment equal in right of payment with any present and future senior subordinated indebtedness of Products Corporation. | |||||||||
The Amended and Restated Senior Subordinated Term Loan Agreement contains covenants (other than the subordination provisions discussed above) that limit the ability of Products Corporation and its subsidiaries to, among other things, incur additional indebtedness, pay dividends on or redeem or repurchase stock, engage in certain asset sales, make certain types of investments and other restricted payments, engage in certain transactions with affiliates, restrict dividends or payments from subsidiaries and create liens on their assets. All of these limitations and prohibitions, however, are subject to a number of important qualifications and exceptions. | |||||||||
The Amended and Restated Senior Subordinated Term Loan Agreement includes a cross acceleration provision which provides that it shall be an event of default under such agreement if any debt (as defined in such agreement) of Products Corporation or any of its significant subsidiaries (as defined in such agreement) is not paid within any applicable grace period after final maturity or is accelerated by the holders of such debt because of a default and the total principal amount of the portion of such debt that is unpaid or accelerated exceeds $25.0 million and such default continues for 10 days after notice from the holders of a majority of the outstanding principal amount of the Amended and Restated Senior Subordinated Term Loan (provided that if Revlon, Inc. or Products Corporation held such majority, notice would be required from the holders of a majority of the outstanding principal amount of the Amended and Restated Senior Subordinated Term Loan not held by Revlon, Inc. or Products Corporation at the time of any such decision). If any such event of default occurs, such requisite holders of the Non-Contributed and Contributed Loans may declare the Amended and Restated Senior Subordinated Term Loan to be due and payable immediately. | |||||||||
The Amended and Restated Senior Subordinated Term Loan Agreement also contains other customary events of default for loan agreements of such type, including, subject to applicable grace periods, nonpayment of any principal or interest when due under such agreement, non-compliance with any of the material covenants in such agreement, any representation or warranty being incorrect, false or misleading in any material respect, or the occurrence of certain bankruptcy, insolvency or similar proceedings by or against Products Corporation or any of its significant subsidiaries. | |||||||||
Upon any change of control (as defined in the Amended and Restated Senior Subordinated Term Loan Agreement), Products Corporation is required to repay the Amended and Restated Senior Subordinated Term Loan in full, provided that prior to such loan’s respective maturity dates all shares of Revlon, Inc.’s Preferred Stock have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full, after fulfilling an offer to repay Products Corporation’s 9 3/4% Senior Secured Notes and to the extent permitted by Products Corporation’s 2011 Credit Agreements. | |||||||||
Long-Term Debt Maturities | |||||||||
The aggregate amounts of contractual long-term debt maturities at December 31, 2012 in the years 2013 through 2017 and thereafter are as follows: | |||||||||
Years ended December 31, | Long-term | ||||||||
debt | |||||||||
maturities | |||||||||
2013 | 70.1 | (a) | |||||||
2014 | 58.4 | (b) | |||||||
2015 | 332.5 | (c) | |||||||
2016 | 8 | (d) | |||||||
2017 | 756 | (e) | |||||||
Thereafter | — | ||||||||
Total long-term debt | $ | 1,225.00 | |||||||
Discounts | (9.1 | ) | |||||||
Total long-term debt, net of discounts | $ | 1,215.90 | |||||||
(a) | Amount refers to (i) a $2.0 million principal repayment on March 31, 2013, as well as the approximately $19.5 million “excess cash flow” payment (as defined under the 2011 Term Loan Agreement), to be made under the 2011 Term Loan Facility prior to April 10, 2013. Such repayment would satisfy Products Corporation’s future regularly scheduled term loan amortization payments in the direct order of maturities beginning in June 2013 through September 2015 and (ii) the aggregate principal amount outstanding under the Contributed Loan. Pursuant to the terms of the 2009 Exchange Offer, the maturity date on the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. was extended from August 2010 to October 8, 2013. | ||||||||
(b) | Amount refers to the aggregate principal amount outstanding under the Non-Contributed Loan which matures on October 8, 2014. | ||||||||
(c) | Amount refers to $2.5 million of quarterly amortization payments required under the 2011 Term Loan Facility and the principal balance due on the 9 3/4% Senior Secured Notes which mature on November 15, 2015. The difference between this amount and the carrying amount of the 9 3/4% Senior Secured Notes is due to the issuance of the $330.0 million in aggregate principal amount of the 9 3/4% Senior Secured Notes at a discount, which was priced at 98.9% of par. | ||||||||
(d) | Amount refers to the quarterly amortization payments required under the 2011 Term Loan Facility. Amount excludes amounts available under the 2011 Revolving Credit Facility which matures on June 16, 2016, and which was undrawn as of December 31, 2012. | ||||||||
(e) | Amount refers to the aggregate principal amount expected to be outstanding under the 2011 Term Loan Facility on its November 19, 2017 maturity date. The difference between this amount and the carrying amounts of the 2011 Term Loan Facility is due to the issuance of the $800.0 million in aggregate principal amount of the 2011 Term Loan Facility at a discount, which was priced at 99.5% of par. |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ' | ' | ||||||||||||||||||||||||||||||||||||||||
9. FAIR VALUE MEASUREMENTS | 11. FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||||||||||||
Assets and liabilities are required to be categorized into three levels of fair value based upon the assumptions used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3, if applicable, generally would require significant management judgment. The three levels for categorizing the fair value measurement of assets and liabilities are as follows: | Assets and liabilities are required to be categorized into three levels of fair value based upon the assumptions used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3, if applicable, generally would require significant management judgment. The three levels for categorizing the fair value measurement of assets and liabilities are as follows: | |||||||||||||||||||||||||||||||||||||||||
• | Level 1: Fair valuing the asset or liability using observable inputs, such as quoted prices in active markets for identical assets or liabilities; | • | Level 1: Fair valuing the asset or liability using observable inputs, such as quoted prices in active markets for identical assets or liabilities; | |||||||||||||||||||||||||||||||||||||||
• | Level 2: Fair valuing the asset or liability using inputs other than quoted prices that are observable for the applicable asset or liability, either directly or indirectly, such as quoted prices for similar (as opposed to identical) assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active; and | • | Level 2: Fair valuing the asset or liability using inputs other than quoted prices that are observable for the applicable asset or liability, either directly or indirectly, such as quoted prices for similar (as opposed to identical) assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active; and | |||||||||||||||||||||||||||||||||||||||
• | Level 3: Fair valuing the asset or liability using unobservable inputs that reflect the Company’s own assumptions regarding the applicable asset or liability. | • | Level 3: Fair valuing the asset or liability using unobservable inputs that reflect the Company’s own assumptions regarding the applicable asset or liability. | |||||||||||||||||||||||||||||||||||||||
As of September 30, 2013, the fair values of the Company’s financial assets and liabilities that are required to be measured at fair value, namely its foreign currency forward exchange contracts (“FX Contracts”), are categorized in the table below: | As of December 31, 2012, the fair values of the Company’s financial assets and liabilities, namely its FX Contracts are categorized in the table below: | |||||||||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Assets: | Assets | |||||||||||||||||||||||||||||||||||||||||
Derivatives: | Derivatives: | |||||||||||||||||||||||||||||||||||||||||
FX Contracts(a) | $ | 0.5 | $ | — | $ | 0.5 | $ | — | FX Contracts(a) | $ | 0.1 | $ | — | $ | 0.1 | $ | — | |||||||||||||||||||||||||
Total assets at fair value | $ | 0.5 | $ | — | $ | 0.5 | $ | — | Total assets at fair value | $ | 0.1 | $ | — | $ | 0.1 | $ | — | |||||||||||||||||||||||||
Liabilities: | Liabilities | |||||||||||||||||||||||||||||||||||||||||
Derivatives: | Derivatives: | |||||||||||||||||||||||||||||||||||||||||
FX Contracts(a) | $ | 0.4 | $ | — | $ | 0.4 | $ | — | FX Contracts(a) | $ | 0.4 | $ | — | $ | 0.4 | $ | — | |||||||||||||||||||||||||
Total liabilities at fair value | $ | 0.4 | $ | — | $ | 0.4 | $ | — | Total liabilities at fair value | $ | 0.4 | $ | — | $ | 0.4 | $ | — | |||||||||||||||||||||||||
As of December 31, 2011, the fair values of the Company’s financial assets and liabilities, namely its FX Contracts are categorized in the table below: | ||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012, the fair values of the Company’s financial assets and liabilities that are required to be measured at fair value, namely its FX Contracts, are categorized in the table below: | ||||||||||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Assets | ||||||||||||||||||||||||||||||||||||||
Assets: | Derivatives: | |||||||||||||||||||||||||||||||||||||||||
Derivatives: | FX Contracts(a) | $ | 0.2 | $ | — | $ | 0.2 | $ | — | |||||||||||||||||||||||||||||||||
FX Contracts(a) | $ | 0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||||||||||||||||||||
Total assets at fair value | $ | 0.2 | $ | — | $ | 0.2 | $ | — | ||||||||||||||||||||||||||||||||||
Total assets at fair value | $ | 0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Derivatives: | |||||||||||||||||||||||||||||||||||||||||
Derivatives: | FX Contracts(a) | $ | 0.8 | $ | — | $ | 0.8 | $ | — | |||||||||||||||||||||||||||||||||
FX Contracts(a) | $ | 0.4 | $ | — | $ | 0.4 | $ | — | ||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | 0.8 | $ | — | $ | 0.8 | $ | — | ||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | 0.4 | $ | — | $ | 0.4 | $ | — | ||||||||||||||||||||||||||||||||||
(a) | The fair value of the Company’s FX Contracts was measured based on observable market transactions of spot and forward rates at December 31, 2012 and 2011. (See Note 12, “Financial Instruments.”) | |||||||||||||||||||||||||||||||||||||||||
(a) | The fair value of the Company’s FX Contracts was measured based on observable market transactions of spot and forward rates on the respective dates. See Note 10, “Financial Instruments.” | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013, the fair values and carrying values of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below: | As of December 31, 2012, the fair values and carrying values of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below: | |||||||||||||||||||||||||||||||||||||||||
Fair Value | Carrying | Fair Value | Carrying | |||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Value | Level 1 | Level 2 | Level 3 | Total | Value | |||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | |||||||||||||||||||||||||||||||||||||||||
Long-term debt, including current portion | $ | — | $ | 1,263.30 | $ | — | $ | 1,263.30 | $ | 1,276.80 | Long-term debt, including current portion | $ | — | $ | 1,245.90 | $ | — | $ | 1,245.90 | $ | 1,215.90 | |||||||||||||||||||||
As of December 31, 2012, the fair values and carrying values of the Company’s long-term debt, including the current portion of long-term debt are categorized in the table below: | The fair value of the Company’s long-term debt, including the current portion of long-term debt, is based on the quoted market prices for the same issues or on the current rates offered for debt of similar remaining maturities. The estimated fair value of the Company’s debt at December 31, 2011 was $1,240.4 million, which was more than the carrying values of such debt at December 31, 2011 of $1,222.0 million. | |||||||||||||||||||||||||||||||||||||||||
The carrying amounts of cash and cash equivalents, marketable securities, trade receivables, notes receivable, accounts payable and short-term borrowings approximate their fair values. | ||||||||||||||||||||||||||||||||||||||||||
Fair Value | Carrying | |||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Value | ||||||||||||||||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||||||||||||
Long-term debt, including current portion | $ | — | $ | 1,245.90 | $ | — | $ | 1,245.90 | $ | 1,215.90 | ||||||||||||||||||||||||||||||||
The fair value of the Company’s long-term debt, including the current portion of long-term debt, is based on the quoted market prices for the same issues or on the current rates offered for debt of similar remaining maturities. | ||||||||||||||||||||||||||||||||||||||||||
The carrying amounts of cash and cash equivalents, trade receivables, notes receivable, accounts payable and short-term borrowings approximate their fair values. |
FINANCIAL_INSTRUMENTS
FINANCIAL INSTRUMENTS | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
FINANCIAL INSTRUMENTS | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
10. FINANCIAL INSTRUMENTS | 12. FINANCIAL INSTRUMENTS | |||||||||||||||||||||||||||||||||||||||||||||||||
Products Corporation maintains standby and trade letters of credit for various corporate purposes under which Products Corporation is obligated, of which $9.8 million and $10.4 million (including amounts available under credit agreements in effect at that time) were maintained at September 30, 2013 and December 31, 2012, respectively. Included in these amounts is approximately $8.1 million and $8.7 million at September 30, 2013 and December 31, 2012, respectively, in standby letters of credit which support Products Corporation’s self-insurance programs. The estimated liability under such programs is accrued by Products Corporation. | Products Corporation maintains standby and trade letters of credit for various corporate purposes under which Products Corporation is obligated, of which $10.4 million and $11.1 million (including amounts available under credit agreements in effect at that time) were maintained at December 31, 2012 and 2011, respectively. Included in these amounts is $8.7 million and $9.1 million at December 31, 2012 and 2011, respectively, in standby letters of credit which support Products Corporation’s self-insurance programs. The estimated liability under such programs is accrued by Products Corporation. | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | Derivative Financial Instruments | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company uses derivative financial instruments, primarily FX Contracts, intended for the purpose of managing foreign currency exchange risk by reducing the effects of fluctuations in foreign currency exchange rates on the Company’s net cash flows. The Company may also enter into interest rate hedging transactions intended for the purpose of managing interest rate risk associated with Products Corporation’s variable rate indebtedness. | The Company uses derivative financial instruments, primarily FX Contracts, intended for the purpose of managing foreign currency exchange risk by reducing the effects of fluctuations in foreign currency exchange rates on the Company’s net cash flows. The Company may also enter into interest rate hedging transactions intended for the purpose of managing interest rate risk associated with Products Corporation’s variable rate indebtedness. | |||||||||||||||||||||||||||||||||||||||||||||||||
Foreign Currency Forward Exchange Contracts | ||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign Currency Forward Exchange Contracts | The FX Contracts are entered into primarily to hedge the anticipated net cash flows resulting from inventory purchases and intercompany payments denominated in currencies other than the local currencies of the Company’s foreign and domestic operations and generally have maturities of less than one year. | |||||||||||||||||||||||||||||||||||||||||||||||||
The FX Contracts are entered into primarily to hedge the anticipated net cash flows resulting from inventory purchases and intercompany payments denominated in currencies other than the local currencies of the Company’s foreign and domestic operations and generally have maturities of less than one year. | The U.S. dollar notional amount of the FX Contracts outstanding at December 31, 2012 and 2011 was $43.9 million and $58.4 million, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
The U.S. Dollar notional amount of the FX Contracts outstanding at September 30, 2013 and December 31, 2012 was $46.2 million and $43.9 million, respectively. | While the Company may be exposed to credit loss in the event of the counterparty’s non-performance, the Company’s exposure is limited to the net amount that Products Corporation would have received, if any, from the counterparty over the remaining balance of the terms of the FX Contracts. The Company does not anticipate any non-performance and, furthermore, even in the case of any non-performance by the counterparty, the Company expects that any such loss would not be material. | |||||||||||||||||||||||||||||||||||||||||||||||||
While the Company may be exposed to credit loss in the event of the counterparty’s non-performance, the Company’s exposure is limited to the net amount that Products Corporation would have received, if any, from the counterparty over the remaining balance of the terms of the FX Contracts. The Company does not anticipate any non-performance and, furthermore, even in the case of any non-performance by the counterparty, the Company expects that any such loss would not be material. | Interest Rate Swap | |||||||||||||||||||||||||||||||||||||||||||||||||
Quantitative Information — Derivative Financial Instruments | Prior to its expiration in April 2010, the Company’s floating-to-fixed interest rate swap had a notional amount of $150.0 million initially relating to indebtedness under Products Corporation’s former 2006 bank term loan facility (prior to its complete refinancing in March 2010) and which also related, through such swap’s expiration in April 2010, to a notional amount of $150.0 million relating to indebtedness under Products Corporation’s 2010 Term Loan Facility (the “2008 Interest Rate Swap”). Under the terms of the 2008 Interest Rate Swap, Products Corporation was required to pay to the counterparty a quarterly fixed interest rate of 2.66% on the $150.0 million notional amount under the 2008 Interest Rate Swap (which, based upon the 4.0% applicable margin, effectively fixed the interest rate on such notional amounts at 6.66% for the 2-year term of such swap), commencing in July 2008, while receiving a variable interest rate payment from the counterparty equal to three-month U.S. dollar LIBOR. | |||||||||||||||||||||||||||||||||||||||||||||||||
The effects of the Company’s derivative instruments on its consolidated financial statements were as follows: | The 2008 Interest Rate Swap was initially designated as a cash flow hedge of the variable interest rate payments on Products Corporation’s former 2006 bank term loan facility (prior to its complete refinancing in March 2010). However, as a result of the 2010 refinancing of the 2006 bank term loan facility, effective March 11, 2010 (the closing date of such refinancing), the 2008 Interest Rate Swap no longer met the criteria to allow for the deferral of the effective portion of unrecognized hedging gains or losses in other comprehensive income, as the scheduled variable interest payment specified on the date originally documented at the inception of the hedge were not to occur. As a result, as of March 11, 2010, the Company reclassified an unrecognized loss of $0.8 million from Accumulated Other Comprehensive Loss into earnings. | |||||||||||||||||||||||||||||||||||||||||||||||||
Quantitative Information — Derivative Financial Instruments | ||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Fair Values of Derivative Financial Instruments in Consolidated Balance Sheets: | The effects of the Company’s derivative instruments on its consolidated financial statements were as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) Fair Value of Derivative Financial Instruments in the Consolidated Balance Sheet at December 31, 2012 and 2011: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Fair Values of Derivative Instruments as of December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet | September 30, | December 31, | Balance Sheet | September 30, | December 31, | Assets | Liabilities | |||||||||||||||||||||||||||||||||||||||||||
Classification | 2013 Fair Value | 2012 Fair Value | Classification | 2013 Fair Value | 2012 Fair Value | Derivatives: | Balance Sheet | 2012 | 2011 | Balance Sheet | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Classification | Fair | Fair | Classification | Fair | Fair | ||||||||||||||||||||||||||||||||||||||||||||
FX Contracts(i) | Prepaid expenses | $ | 0.5 | $ | 0.1 | Accrued | $ | 0.4 | $ | 0.4 | Value | Value | Value | Value | ||||||||||||||||||||||||||||||||||||
and other | Expenses | Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||||||||||||
FX contracts(a) | Prepaid expenses | $ | 0.1 | $ | 0.2 | Accrued expenses | $ | 0.4 | $ | 0.8 | ||||||||||||||||||||||||||||||||||||||||
(i) | The fair values of the FX Contracts at September 30, 2013 and December 31, 2012 were determined by using observable market transactions of spot and forward rates at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Effects of Derivative Financial Instruments on the Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended September 30, 2013 and 2012: | (a) | The fair values of the FX Contracts at December 31, 2012 and 2011 were determined by using observable market transactions of spot and forward rates at December 31, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||
(b) | Effects of Derivative Financial Instruments on the Consolidated Statements of Income and Comprehensive Income for 2012, 2011 and 2010: | |||||||||||||||||||||||||||||||||||||||||||||||||
Amount of (Loss) Gain Recognized | ||||||||||||||||||||||||||||||||||||||||||||||||||
in Foreign Currency (Gains) Losses, Net | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | Derivative Instruments Gain (Loss) Effect on Consolidated Statements of Income and | ||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | Comprehensive Income for the year ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Amount of Gain (Loss) Recognized | Income | Amount of Gain (Loss) | ||||||||||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | in Other Comprehensive Income | Statement | Reclassified from OCI to Income | |||||||||||||||||||||||||||||||||||||||||||||||
FX Contracts | $ | (1.0 | ) | $ | (0.9 | ) | $ | 1.3 | $ | (2.0 | ) | (“OCI”) | Classification of | (Effective Portion) | ||||||||||||||||||||||||||||||||||||
(Effective Portion) | Gain (Loss) | |||||||||||||||||||||||||||||||||||||||||||||||||
Reclassified | ||||||||||||||||||||||||||||||||||||||||||||||||||
from OCI to | ||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | 2010 | Income | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||||||||||||||
2008 Interest Rate Swap(a) | $ | — | $ | — | $ | — | Interest Expense | $ | — | $ | — | $ | (0.9 | ) | ||||||||||||||||||||||||||||||||||||
Derivative Instruments Gain (Loss) Effect on Consolidated Statements of Income | ||||||||||||||||||||||||||||||||||||||||||||||||||
and Comprehensive Income for the year ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of Gain (Loss) | Income | Amount of Gain (Loss) | ||||||||||||||||||||||||||||||||||||||||||||||||
Recognized in Foreign Currency | Statement | Reclassified from OCI to Income | ||||||||||||||||||||||||||||||||||||||||||||||||
(Gains) Losses, Net | Classification of | (Ineffective Portion) | ||||||||||||||||||||||||||||||||||||||||||||||||
Gain (Loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassified | ||||||||||||||||||||||||||||||||||||||||||||||||||
from OCI to | ||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | 2010 | Income | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||||||||||||||
FX Contracts | $ | (1.9 | ) | $ | (1.1 | ) | $ | (3.1 | ) | |||||||||||||||||||||||||||||||||||||||||
2008 Interest Rate Swap(a) | — | — | — | Interest | $ | — | $ | — | $ | (0.8 | ) | |||||||||||||||||||||||||||||||||||||||
Expense | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | (1.9 | ) | $ | (1.1 | ) | $ | (3.1 | ) | $ | $ | $ | (0.8 | ) | |||||||||||||||||||||||||||||||||||||
— | — | |||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Effective March 11, 2010 (the closing date of the 2010 refinancing of the 2006 bank term loan facility), the 2008 Interest Rate Swap, which expired in April 2010, was no longer designated as a cash flow hedge. (See “Interest Rate Swap” in this Note 12). |
INCOME_TAXES
INCOME TAXES | 9 Months Ended | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ' | ||||||||||||
INCOME TAXES | ' | ' | ||||||||||||
11. INCOME TAXES | 13. INCOME TAXES | |||||||||||||
The provision for income taxes represents federal, foreign, state and local income taxes. The effective tax rate differs from the applicable federal statutory rate due to the effect of state and local income taxes, tax rates and income in foreign jurisdictions, utilization of tax loss carry-forwards, foreign earnings taxable in the U.S., nondeductible expenses and other items. The Company’s tax provision changes quarterly based on various factors including, but not limited to, the geographical mix of earnings, enacted tax legislation, foreign, state and local income taxes, tax audit settlements and the interaction of various global tax strategies. In addition, changes in judgment from the evaluation of new information resulting in the recognition, derecognition and/or re-measurement of a tax position taken in a prior period are recognized in the quarter in which any such change occurs. | The Company’s income before income taxes and the applicable provision for (benefit from) income taxes are as follows: | |||||||||||||
For the third quarter of 2013 and 2012, the Company recorded a provision for income taxes from continuing operations of $13.0 million and $12.0 million, respectively. The $1.0 million increase in the provision for income taxes was primarily attributable to certain favorable discrete items that benefited the third quarter of 2012 that did not recur in the third quarter of 2013, mostly offset by the favorable resolution of tax matters in a foreign jurisdiction in the third quarter of 2013. | ||||||||||||||
For the first nine months of 2013 and 2012, the Company recorded a provision for income taxes from continuing operations of $32.4 million and $33.1 million, respectively. The $0.7 million decrease in the provision for income taxes was primarily attributable to the loss on early extinguishment of debt recognized in the first nine months of 2013 related to the 2013 Senior Notes Refinancing and the February 2013 Term Loan Amendments and the favorable resolution of tax matters in a foreign jurisdiction in the first nine months of 2013, partially offset by increased pre-tax income and certain favorable discrete items that benefited the first nine months of 2012 that did not recur in the first nine months of 2013. | ||||||||||||||
The Company’s effective tax rate for the three months ended September 30, 2013 was higher than the federal statutory rate of 35% due principally to non-deductible expenses, including certain non-deductible expenses related to the Colomer Acquisition, foreign dividends and earnings taxable in the U.S. and state and local taxes, net of U.S. federal income tax benefit, partially offset by foreign and U.S. tax effects attributable to operations outside the U.S. | Year Ended December 31, | |||||||||||||
The Company’s effective tax rate for the nine months ended September 30, 2013 was higher than the federal statutory rate of 35% due principally to foreign dividends and earnings taxable in the U.S. and non-deductible expenses, including certain non-deductible expenses related to the Colomer Acquisition. | 2012 | 2011 | 2010 | |||||||||||
The Company remains subject to examination of its income tax returns in various jurisdictions including, without limitation, the U.S. (federal) for tax years ended December 31, 2010 through December 31, 2012, South Africa for tax years ended December 31, 2009 through December 31, 2011 and Australia for tax years ended December 31, 2009 through December 31, 2012. | Income from continuing operations before income taxes: | |||||||||||||
United States | $ | 108.4 | $ | 58.1 | $ | 40.2 | ||||||||
Foreign | 7.2 | 40.7 | 48.5 | |||||||||||
$ | 115.6 | $ | 98.8 | $ | 88.7 | |||||||||
Provision for (benefit from) income taxes: | ||||||||||||||
United States federal | $ | 43.1 | $ | 33.2 | $ | (209.2 | ) | |||||||
State and local | (9.8 | ) | (3.8 | ) | (42.8 | ) | ||||||||
Foreign | 11.5 | 6 | 16.7 | |||||||||||
$ | 44.8 | $ | 35.4 | $ | (235.3 | ) | ||||||||
Current: | ||||||||||||||
United States federal | $ | 2.3 | $ | 0.8 | $ | 1 | ||||||||
State and local | 2.2 | 0.7 | (4.5 | ) | ||||||||||
Foreign | 10.7 | 21.7 | 15.5 | |||||||||||
15.2 | 23.2 | 12 | ||||||||||||
Year Ended December 31, | ||||||||||||||
2012 | 2011 | 2010 | ||||||||||||
Deferred: | ||||||||||||||
United States federal | 76 | 60.1 | (197.5 | ) | ||||||||||
State and local | (5.2 | ) | (1.4 | ) | (35.8 | ) | ||||||||
Foreign | 3 | (14.4 | ) | 4.4 | ||||||||||
73.8 | 44.3 | (228.9 | ) | |||||||||||
Benefits of operating loss carryforwards: | ||||||||||||||
United States federal | (35.2 | ) | (27.7 | ) | (12.7 | ) | ||||||||
State and local | (6.8 | ) | (3.1 | ) | (2.5 | ) | ||||||||
Foreign | (2.2 | ) | (1.3 | ) | (3.2 | ) | ||||||||
(44.2 | ) | (32.1 | ) | (18.4 | ) | |||||||||
$ | 44.8 | $ | 35.4 | $ | (235.3 | ) | ||||||||
The actual tax on income before income taxes is reconciled to the applicable statutory federal income tax rate as follows: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2012 | 2011 | 2010 | ||||||||||||
Computed expected tax expense | $ | 40.5 | $ | 34.6 | $ | 31 | ||||||||
State and local taxes, net of U.S. federal income tax benefit | 3.9 | (2.5 | ) | 0.1 | ||||||||||
Foreign and U.S. tax effects attributable to operations outside the U.S. | (3.8 | ) | 3.8 | (5.1 | ) | |||||||||
Reduction in valuation allowance | (15.8 | ) | (16.9 | ) | (283.7 | ) | ||||||||
Foreign dividends and earnings taxable in the U.S. | 12.7 | 15.2 | 14.5 | |||||||||||
Restructuring charges for which there is no tax benefit | 7.2 | — | — | |||||||||||
Other | 0.1 | 1.2 | 7.9 | |||||||||||
Tax expense | $ | 44.8 | $ | 35.4 | $ | (235.3 | ) | |||||||
Deferred taxes are the result of temporary differences between the bases of assets and liabilities for financial reporting and income tax purposes. Deferred tax assets and liabilities at December 31, 2012 and 2011 were comprised of the following: | ||||||||||||||
December 31, | ||||||||||||||
2012 | 2011 | |||||||||||||
Deferred tax assets: | ||||||||||||||
Inventories | $ | 3.6 | $ | 3.5 | ||||||||||
Net operating loss carryforwards — U.S. | 143.1 | 176.8 | ||||||||||||
Net operating loss carryforwards — foreign | 51.1 | 82.8 | ||||||||||||
Employee benefits | 98.9 | 101.1 | ||||||||||||
State and local taxes | 2.3 | 2.2 | ||||||||||||
Sales related reserves | 31.4 | 32.9 | ||||||||||||
Other | 30.7 | 33 | ||||||||||||
Total gross deferred tax assets | 361.1 | 432.3 | ||||||||||||
Less valuation allowance | (70.6 | ) | (120.0 | ) | ||||||||||
Total deferred tax assets, net of valuation allowance | 290.5 | 312.3 | ||||||||||||
Deferred tax liabilities: | ||||||||||||||
Plant, equipment and other assets | (17.0 | ) | (17.6 | ) | ||||||||||
Foreign currency translation adjustment | (1.1 | ) | (1.8 | ) | ||||||||||
Other | (21.0 | ) | (20.4 | ) | ||||||||||
Total gross deferred tax liabilities | (39.1 | ) | (39.8 | ) | ||||||||||
Net deferred tax assets | $ | 251.4 | $ | 272.5 | ||||||||||
As previously disclosed, in assessing the recoverability of its deferred tax assets, management regularly considers whether some portion or all of the deferred tax assets will not be realized based on the recognition threshold and measurement of a tax position. The ultimate realization of deferred tax assets is generally dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. | ||||||||||||||
Based on the level of historical losses for certain jurisdictions within the U.S., the Company had maintained a deferred tax valuation allowance against certain of its deferred tax assets. As of December 31, 2012, the Company had experienced improved earnings trends and had cumulative taxable income in such jurisdictions. As a result of such earnings trends and the Company’s tax position, and based upon the Company’s projections for future taxable income over the periods in which the deferred tax assets are recoverable, management concluded that it was more likely than not that the Company would realize the benefits of certain of its net deferred tax assets existing at December 31, 2012 in those jurisdictions. Therefore, at December 31, 2012, the Company realized a non-cash benefit of $15.8 million related to a reduction of the Company’s deferred tax valuation allowance on certain of its net deferred tax assets for certain jurisdictions within the U.S. The Company reflected this benefit in the tax provision and this non-cash benefit increased net income at December 31, 2012. | ||||||||||||||
Based upon the level of historical taxable losses for certain jurisdictions outside the U.S., the Company had maintained a deferred tax valuation allowance against its deferred tax assets. As of December 31, 2011, the Company experienced improved earnings trends and had cumulative taxable income in such jurisdictions. As a result of such earnings trends and the Company’s tax position, and based upon the Company’s projections for future taxable income over the periods in which the deferred tax assets are recoverable, management concluded that it was more likely than not that the Company would realize the benefits of the net deferred tax assets existing at December 31, 2011 in such jurisdictions. Therefore, at December 31, 2011, the Company realized a non-cash benefit of $16.9 million related to a reduction of the Company’s deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions outside the U.S. The Company reflected this benefit in the tax provision and this non-cash benefit increased net income at December 31, 2011. | ||||||||||||||
Based upon the level of historical taxable losses for the U.S., the Company maintained a deferred tax valuation allowance against its deferred tax assets in the U.S. As of December 31, 2010, the Company experienced improved earnings trends and had cumulative taxable income. As a result of such earnings trends and the Company’s tax position, and based upon the Company’s projections for future taxable income over the periods in which the deferred tax assets were recoverable, management believed that it was more likely than not that the Company would realize the benefits of the net deferred tax assets existing at December 31, 2010. Therefore, at December 31, 2010, the Company realized a non-cash benefit of $248.5 million related to a reduction of the Company’s deferred tax valuation allowance on its net U.S. deferred tax assets at December 31, 2010. The Company reflected this benefit in the tax provision and this non-cash benefit increased net income at December 31, 2010. | ||||||||||||||
A valuation allowance has been provided for those deferred tax assets for which, in the opinion of management, it is more-likely-than-not that the deferred tax assets will not be realized. At December 31, 2012, the deferred tax valuation allowance primarily represents amounts for foreign tax loss carryforwards and certain U.S. state and local tax loss carryforwards. The deferred tax valuation allowance decreased by $49.4 million and increased by $7.1 million during 2012 and 2011, respectively. The decrease in the deferred tax valuation allowance during 2012 was primarily driven by the reduction in tax loss carryforwards in certain foreign markets and the reduction in the valuation allowance with respect to net deferred tax assets in certain jurisdictions within the U.S., as noted above. The increase in the deferred tax valuation allowance during 2011 was primarily driven by certain state and local tax loss carryforwards in the U.S., partially offset by the reduction of the valuation allowance with respect to the net deferred tax assets for certain jurisdictions outside the U.S., as noted above. | ||||||||||||||
After December 31, 2012, the Company has tax loss carryforwards of approximately $469.8 million, of which $204.8 million are foreign and $265.0 million are domestic (federal). The losses expire in future years as follows: 2013-$14.7 million; 2014-$8.6 million; 2015-$3.4 million; 2016 and beyond-$337.7 million; and unlimited-$105.4 million. The Company could receive the benefit of such tax loss carryforwards only to the extent it has taxable income during the carryforward periods in the applicable tax jurisdictions. As of December 31, 2012, there were no consolidated federal net operating losses available from the MacAndrews & Forbes Group (as hereinafter defined) from periods prior to the March 25, 2004 deconsolidation (as described below). | ||||||||||||||
Revlon, Inc. and its subsidiaries, including Products Corporation, remain subject to examination of their respective income tax returns in various jurisdictions including, without limitation, South Africa for tax years ended December 31, 2009 through December 31, 2011, Australia for tax years ended December 31, 2008 through December 31, 2011 and the U.S. (federal) for tax years ended December 31, 2009 through December 31, 2011. The Company classifies interest and penalties as a component of the provision for income taxes in the consolidated statements of income and comprehensive income. During the years ended December 31, 2012 and 2011, the Company recognized in the Consolidated Statements of Income and Comprehensive Income an increase of $0.6 million and $1.0 million, respectively, in accrued interest and penalties. | ||||||||||||||
At December 31, 2012 and 2011, Revlon, Inc. and its subsidiaries, including Products Corporation, had unrecognized tax benefits of $49.9 million and $46.0 million, respectively, including $13.5 million and $12.7 million, respectively, of accrued interest and penalties. All of the unrecognized tax benefits, to the extent reduced and unutilized in future periods, would affect the Company’s effective tax rate. A reconciliation of the beginning and ending amount of the unrecognized tax benefits is as follows: | ||||||||||||||
Balance at January 1, 2011 | $ | 44.1 | ||||||||||||
Increase based on tax positions taken in a prior year | 5.1 | |||||||||||||
Decrease based on tax positions taken in a prior year | (3.7 | ) | ||||||||||||
Increase based on tax positions taken in the current year | 6.3 | |||||||||||||
Decrease related to settlements with taxing authorities and changes in law | (1.0 | ) | ||||||||||||
Decrease resulting from the lapse of statutes of limitations | (4.8 | ) | ||||||||||||
Balance at December 31, 2011 | $ | 46 | ||||||||||||
Increase based on tax positions taken in a prior year | 8.5 | |||||||||||||
Decrease based on tax positions taken in a prior year | (4.8 | ) | ||||||||||||
Increase based on tax positions taken in the current year | 6 | |||||||||||||
Decrease resulting from the lapse of statutes of limitations | (5.8 | ) | ||||||||||||
Balance at December 31, 2012 | $ | 49.9 | ||||||||||||
In addition, the Company believes that it is reasonably possible that its unrecognized tax benefits during 2013 will increase by approximately $1.6 million as a result of changes in various tax positions, each of which is individually insignificant. | ||||||||||||||
The Company has not provided for U.S. federal income taxes and foreign withholding taxes on $74.5 million of foreign subsidiaries’ cumulative undistributed earnings as of December 31, 2012 because such earnings are intended to be indefinitely reinvested overseas. If these future earnings are repatriated to the United States, or if the Company determines that such earnings will be remitted in the foreseeable future, additional tax provisions may be required. Due to the complexities in the tax laws and the assumptions that would have to be made, it is not practicable to estimate the amounts of income tax provisions that may be required. | ||||||||||||||
As a result of the closing of the 2004 Revlon Exchange Transactions (as hereinafter defined in Note 18, “Related Party Transactions — Tax Sharing Agreements”), as of March 25, 2004, Revlon, Inc., Products Corporation and their U.S. subsidiaries were no longer included in the affiliated group of which MacAndrews & Forbes was the common parent (the “MacAndrews & Forbes Group”) for federal income tax purposes. Revlon Holdings (as hereinafter defined in Note 18, “Related Party Transactions — Transfer Agreements”), Revlon, Inc., Products Corporation and certain of its subsidiaries, and MacAndrews & Forbes Holdings entered into a tax sharing agreement (as subsequently amended and restated, the “MacAndrews & Forbes Tax Sharing Agreement”), for taxable periods beginning on or after January 1, 1992 through and including March 25, 2004, during which Revlon, Inc. and Products Corporation or a subsidiary of Products Corporation was a member of the MacAndrews & Forbes Group. In these taxable periods, Revlon, Inc.’s and Products Corporation’s federal taxable income and loss were included in such group’s consolidated tax return filed by MacAndrews & Forbes Holdings. Revlon, Inc. and Products Corporation were also included in certain state and local tax returns of MacAndrews & Forbes Holdings or its subsidiaries. Revlon, Inc. and Products Corporation remain liable under the MacAndrews & Forbes Tax Sharing Agreement for all such taxable periods through and including March 25, 2004 for amounts determined to be due as a result of a redetermination arising from an audit or otherwise, equal to the taxes that Revlon, Inc. or Products Corporation would otherwise have had to pay if it were to have filed separate federal, state or local income tax returns for such periods. | ||||||||||||||
Following the closing of the 2004 Revlon Exchange Transactions, Revlon, Inc. became the parent of a new consolidated group for federal income tax purposes and Products Corporation’s federal taxable income and loss are included in such group’s consolidated tax returns. Accordingly, Revlon, Inc. and Products Corporation entered into a tax sharing agreement (the “Revlon Tax Sharing Agreement”) pursuant to which Products Corporation is required to pay to Revlon, Inc. amounts equal to the taxes that Products Corporation would otherwise have had to pay if Products Corporation were to file separate federal, state or local income tax returns, limited to the amount, and payable only at such times, as Revlon, Inc. will be required to make payments to the applicable taxing authorities. | ||||||||||||||
There were no federal tax payments or payments in lieu of taxes from Revlon, Inc. to Revlon Holdings pursuant to the MacAndrews & Forbes Tax Sharing Agreement in 2012 or 2011 with respect to periods covered by the MacAndrews & Forbes Tax Sharing Agreement, and the Company expects that there will not be any such payments in 2013. During 2012, there was $0.3 million in federal tax payments from Products Corporation to Revlon, Inc. pursuant to the Revlon Tax Sharing Agreement with respect to 2011 and $1.8 million with respect to 2012. The Company expects that there will be $0.1 million in federal tax payments from Products Corporation to Revlon, Inc. pursuant to the Revlon Tax Sharing Agreement during 2013 with respect to 2012. During 2011, there were no federal tax payments from Products Corporation to Revlon, Inc. pursuant to the Revlon Tax Sharing Agreement with respect to 2010 and $0.6 million with respect to 2011. | ||||||||||||||
Pursuant to the asset transfer agreement referred to in Note 18, “Related Party Transactions – Transfer Agreements,” Products Corporation assumed all tax liabilities of Revlon Holdings other than (i) certain income tax liabilities arising prior to January 1, 1992 to the extent such liabilities exceeded the reserves on Revlon Holdings’ books as of January 1, 1992 or were not of the nature reserved for and (ii) other tax liabilities to the extent such liabilities are related to the business and assets retained by Revlon Holdings. |
SAVINGS_PLAN_PENSION_AND_POSTR
SAVINGS PLAN, PENSION AND POST-RETIREMENT BENEFITS | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||
Postemployment Benefits [Abstract] | ' | ||||||||||||||||||||||||
SAVINGS PLAN, PENSION AND POST-RETIREMENT BENEFITS | ' | ||||||||||||||||||||||||
14. SAVINGS PLAN, PENSION AND POST-RETIREMENT BENEFITS | |||||||||||||||||||||||||
Savings Plan: | |||||||||||||||||||||||||
The Company offers a qualified defined contribution plan for its U.S.-based employees, the Revlon Employees’ Savings, Investment and Profit Sharing Plan (as amended, the “Savings Plan”), which allows eligible participants to contribute up to 25%, and highly compensated participants to contribute up to 6%, of eligible compensation through payroll deductions, subject to certain annual dollar limitations imposed by the Internal Revenue Service. The Company matches employee contributions at fifty cents for each dollar contributed up to the first 6% of eligible compensation (i.e., for a total match of 3% of employee contributions). In 2012, 2011 and 2010, the Company made cash matching contributions to the Savings Plan of $2.4 million, $2.4 million and $2.3 million, respectively. | |||||||||||||||||||||||||
The Company’s qualified and non-qualified defined contribution savings plans for its U.S.-based employees, contain a discretionary profit sharing component that enable the Company, should it elect to do so, to make discretionary profit sharing contributions. The Company determines in the fourth quarter of each year whether and, if so, to what extent, discretionary profit sharing contributions would be made for the following year. For 2012, the Company made discretionary profit sharing contributions to the Savings Plan and non-qualified defined contribution savings plan of $3.9 million (of which $3.0 million was paid in 2012 and $0.9 million was paid in January 2013), or 3% of eligible compensation, which was credited on a quarterly basis. For 2011, the Company made discretionary profit sharing contributions to the Savings Plan and non-qualified defined contribution savings plan of $3.9 million (of which $3.0 million was paid in 2011 and $0.9 million was paid in January 2012), or 3% of eligible compensation, which was credited on a quarterly basis. In December 2012, the Company determined that the discretionary profit sharing contribution during 2013 would be 3% of eligible compensation, to be credited on a quarterly basis. | |||||||||||||||||||||||||
Pension Benefits: | |||||||||||||||||||||||||
Effective December 31, 2012, the Company merged two of its qualified defined benefit pension plans; therefore, as of December 31, 2012, the Company sponsors two qualified defined benefit pension plans covering a substantial portion of the Company’s employees in the U.S. The Company also has non-qualified pension plans which provide benefits for certain U.S. and non-U.S. employees, and for U.S. employees in excess of IRS limitations in the U.S. and in certain limited cases contractual benefits for designated officers of the Company. These non-qualified plans are funded from the general assets of the Company. | |||||||||||||||||||||||||
In 2009, Products Corporation’s U.S. qualified defined benefit pension plan (the Revlon Employees’ Retirement Plan) and its non-qualified pension plan (the Revlon Pension Equalization Plan) were amended to cease future benefit accruals under such plan after December 31, 2009. No additional benefits have accrued since December 31, 2009, other than interest credits on participant account balances under the cash balance program of the Company’s U.S. pension plans. Also, service credits for vesting and early retirement eligibility will continue to accrue in accordance with the terms of the respective plans. | |||||||||||||||||||||||||
In 2010, Products Corporation amended its Canadian defined benefit pension plan (the Affiliated Revlon Companies Employment Plan) to cease future benefit accruals under such plan after December 31, 2010. As a result, in 2010, the Company recorded a $1.1 million decrease in its pension liabilities, which was comprised of a curtailment gain of $1.1 million recorded as an offset against the net actuarial losses previously reported within Accumulated Other Comprehensive Loss. | |||||||||||||||||||||||||
During 2012, the Company announced plans to exit its owned manufacturing facility in France and rightsize its organization in France as part of the September 2012 Program (as defined in Note 3, “Restructuring Charges”). As a result of the September 2012 Program discussed above, the Company recognized a curtailment gain of $1.7 million, partially offset by $0.2 million of prior service costs and accumulated actuarial losses previously reported within accumulated other comprehensive loss, for a net gain of $1.5 million, which was recorded within restructuring charges for the year ended December 31, 2012. | |||||||||||||||||||||||||
Other Post-retirement Benefits: | |||||||||||||||||||||||||
The Company previously sponsored an unfunded retiree benefit plan, which provides death benefits payable to beneficiaries of a very limited number of former employees. Participation in this plan was limited to participants enrolled as of December 31, 1993. The Company also administers an unfunded medical insurance plan on behalf of Revlon Holdings, certain costs of which have been apportioned to Revlon Holdings under the transfer agreements among Revlon, Inc., Products Corporation and MacAndrews & Forbes. (See Note 18, “Related Party Transactions – Transfer Agreements”). | |||||||||||||||||||||||||
The following table provides an aggregate reconciliation of the projected benefit obligations, plan assets, funded status and amounts recognized in the Company’s Consolidated Financial Statements related to the Company’s significant pension and other post-retirement plans. | |||||||||||||||||||||||||
Pension Plans | Other | ||||||||||||||||||||||||
Post-retirement | |||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||||||||||||
Change in Benefit Obligation: | |||||||||||||||||||||||||
Benefit obligation — beginning of year | $ | (700.5 | ) | $ | (642.3 | ) | $ | (16.1 | ) | $ | (16.1 | ) | |||||||||||||
Service cost | (1.6 | ) | (1.2 | ) | — | — | |||||||||||||||||||
Interest cost | (30.0 | ) | (32.4 | ) | (0.7 | ) | (0.9 | ) | |||||||||||||||||
Actuarial loss | (51.1 | ) | (62.0 | ) | (0.5 | ) | (0.6 | ) | |||||||||||||||||
Curtailment gain | 1.7 | — | — | — | |||||||||||||||||||||
Settlement gain | 0.2 | 0.3 | — | — | |||||||||||||||||||||
Benefits paid | 39 | 36.8 | 0.8 | 0.9 | |||||||||||||||||||||
Currency translation adjustments | (2.3 | ) | 0.3 | — | 0.6 | ||||||||||||||||||||
Plan participant contributions | — | — | — | — | |||||||||||||||||||||
Benefit obligation — end of year | $ | (744.6 | ) | $ | (700.5 | ) | $ | (16.5 | ) | $ | (16.1 | ) | |||||||||||||
Change in Plan Assets: | |||||||||||||||||||||||||
Fair value of plan assets — beginning of year | $ | 463.8 | $ | 449.5 | $ | — | $ | — | |||||||||||||||||
Actual return on plan assets | 64.2 | 21.3 | — | — | |||||||||||||||||||||
Employer contributions | 29 | 30.6 | 0.8 | 0.9 | |||||||||||||||||||||
Plan participant contributions | — | — | — | — | |||||||||||||||||||||
Benefits paid | (39.0 | ) | (36.8 | ) | (0.8 | ) | (0.9 | ) | |||||||||||||||||
Settlement gain | (0.2 | ) | (0.3 | ) | — | — | |||||||||||||||||||
Currency translation adjustments | 2.4 | (0.5 | ) | — | — | ||||||||||||||||||||
Fair value of plan assets — end of year | $ | 520.2 | $ | 463.8 | $ | — | $ | — | |||||||||||||||||
Unfunded status of plans at December 31, | $ | (224.4 | ) | $ | (236.7 | ) | $ | (16.5 | ) | $ | (16.1 | ) | |||||||||||||
In respect of the Company’s pension plans and other post-retirement benefit plans, amounts recognized in the Company’s Consolidated Balance Sheets at December 31, 2012 and 2011 consist of the following: | |||||||||||||||||||||||||
Pension Plans | Other | ||||||||||||||||||||||||
Post-retirement | |||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||||||||||||
Accrued expenses and other | $ | (6.4 | ) | $ | (6.5 | ) | $ | (0.8 | ) | $ | (0.8 | ) | |||||||||||||
Pension and other post-retirement benefit liabilities | (218.0 | ) | (230.2 | ) | (15.7 | ) | (15.3 | ) | |||||||||||||||||
(224.4 | ) | (236.7 | ) | (16.5 | ) | (16.1 | ) | ||||||||||||||||||
Accumulated other comprehensive loss | 264.2 | 250.4 | 4.6 | 4.4 | |||||||||||||||||||||
Income tax benefit | (35.9 | ) | (28.0 | ) | (0.5 | ) | (0.2 | ) | |||||||||||||||||
Portion allocated to Revlon Holdings | (0.9 | ) | (0.7 | ) | — | (0.2 | ) | ||||||||||||||||||
$ | 227.4 | $ | 221.7 | $ | 4.1 | $ | 4 | ||||||||||||||||||
With respect to the above accrued expenses and other, the Company has recorded receivables from affiliates of $2.9 million and $3.0 million at December 31, 2012 and 2011, respectively, relating to pension plan liabilities retained by such affiliates. | |||||||||||||||||||||||||
The projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for the Company’s pension plans are as follows: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Projected benefit obligation | $ | 744.6 | $ | 700.5 | |||||||||||||||||||||
Accumulated benefit obligation | 743.6 | 698.8 | |||||||||||||||||||||||
Fair value of plan assets | 520.2 | 463.8 | |||||||||||||||||||||||
Net Periodic Benefit Cost: | |||||||||||||||||||||||||
During 2012, excluding the curtailment gain described above, net periodic benefit costs were flat compared to 2011, driven primarily by a decrease in the weighted-average discount rate, partially offset by the increase in the fair value of pension plan assets at December 31, 2011. | |||||||||||||||||||||||||
During 2011, the Company recognized $4.3 million of lower net periodic benefit cost, compared to 2010, driven primarily by the increase in the fair value of pension plan assets at December 31, 2010. | |||||||||||||||||||||||||
The components of net periodic benefit cost for the pension plans and other post-retirement benefit plans are as follows: | |||||||||||||||||||||||||
Pension Plans | Other | ||||||||||||||||||||||||
Post-retirement | |||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2012 | 2011 | 2010 | 2012 | 2011 | 2010 | ||||||||||||||||||||
Net periodic benefit cost: | |||||||||||||||||||||||||
Service cost | $ | 1.6 | $ | 1.2 | $ | 1.5 | $ | — | $ | — | $ | — | |||||||||||||
Interest cost | 30 | 32.4 | 33.8 | 0.7 | 0.9 | 0.9 | |||||||||||||||||||
Expected return on plan assets | (35.2 | ) | (35.0 | ) | (32.1 | ) | — | — | — | ||||||||||||||||
Amortization of prior service cost (credit) | — | 0.1 | 0.1 | — | — | — | |||||||||||||||||||
Amortization of actuarial loss | 8.1 | 5.3 | 5.1 | 0.3 | 0.3 | 0.2 | |||||||||||||||||||
Curtailment gain | (1.5 | ) | — | — | — | — | — | ||||||||||||||||||
3 | 4 | 8.4 | 1 | 1.2 | 1.1 | ||||||||||||||||||||
Portion allocated to Revlon Holdings | (0.1 | ) | (0.1 | ) | (0.1 | ) | — | (0.1 | ) | (0.1 | ) | ||||||||||||||
$ | 2.9 | $ | 3.9 | $ | 8.3 | $ | 1 | $ | 1.1 | $ | 1 | ||||||||||||||
Amounts recognized in accumulated other comprehensive loss at December 31, 2012 in respect of the Company’s pension plans and other post-retirement plans, which have not yet been recognized as a component of net periodic benefit cost, are as follows: | |||||||||||||||||||||||||
Pension Benefits | Post-retirement | Total | |||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
Net actuarial loss | $ | 264.2 | $ | 4.6 | $ | 268.8 | |||||||||||||||||||
Prior service cost | — | — | — | ||||||||||||||||||||||
264.2 | 4.6 | 268.8 | |||||||||||||||||||||||
Income tax benefit | (35.9 | ) | (0.5 | ) | (36.4 | ) | |||||||||||||||||||
Portion allocated to Revlon Holdings | (0.9 | ) | — | (0.9 | ) | ||||||||||||||||||||
$ | 227.4 | $ | 4.1 | $ | 231.5 | ||||||||||||||||||||
The total actuarial losses and prior service costs in respect of the Company’s pension plans and other post-retirement plans included in accumulated other comprehensive loss at December 31, 2012 and expected to be recognized in net periodic benefit cost during the fiscal year ended December 31, 2013, is $8.5 million and $0.4 million, respectively. | |||||||||||||||||||||||||
Pension Plan Assumptions: | |||||||||||||||||||||||||
The following weighted-average assumptions were used to determine the Company’s projected benefit obligation of the Company’s U.S. and International pension plans at the end of the respective years: | |||||||||||||||||||||||||
U.S. Plans | International Plans | ||||||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||||||||||||
Discount rate | 3.78 | % | 4.38 | % | 4.33 | % | 4.77 | % | |||||||||||||||||
Rate of future compensation increases | 3 | % | 3.5 | % | 2.97 | % | 3.05 | % | |||||||||||||||||
The following weighted-average assumptions were used to determine the Company’s net periodic benefit cost of the Company’s U.S. and International pension plans during the respective years: | |||||||||||||||||||||||||
U.S. Plans | International Plans | ||||||||||||||||||||||||
2012 | 2011 | 2010 | 2012 | 2011 | 2010 | ||||||||||||||||||||
Discount rate | 4.38 | % | 5.17 | % | 5.68 | % | 4.77 | % | 5.32 | % | 5.63 | % | |||||||||||||
Expected long-term return on plan assets | 7.75 | % | 8 | % | 8.25 | % | 6.22 | % | 6.25 | % | 6.5 | % | |||||||||||||
Rate of future compensation increases | 3.5 | % | 3.5 | % | 3.5 | % | 3.05 | % | 3.53 | % | 4.39 | % | |||||||||||||
The 3.78% weighted-average discount rate used to determine the Company’s projected benefit obligation of the Company’s U.S. plans at the end of 2012 was derived by reference to appropriate benchmark yields on high quality corporate bonds, with terms which approximate the duration of the benefit payments and the relevant benchmark bond indices considering the individual plan’s characteristics. The rate selected approximates the rate at which the Company believes the U.S. pension benefits could have been effectively settled. The discount rates used to determine the Company’s projected benefit obligation of the Company’s primary international plans at the end of 2012 were derived from similar local studies, in conjunction with local actuarial consultants and asset managers. | |||||||||||||||||||||||||
During the first quarter of each year, the Company selects an expected long-term rate of return on its pension plan assets. The Company considers a number of factors to determine its expected long-term rate of return on plan assets assumption, including, without limitation, recent and historical performance of plan assets, asset allocation and other third-party studies and surveys. The Company considered the pension plan portfolios’ asset allocations over a variety of time periods and compared them with third-party studies and reviewed the performance of the capital markets in recent years and other factors and advice from various third parties, such as the pension plans’ advisors, investment managers and actuaries. While the Company considered both the recent performance and the historical performance of pension plan assets, the Company’s assumptions are based primarily on its estimates of long-term, prospective rates of return. Using the aforementioned methodologies, the Company selected a 7.75% and 6.22% weighted-average long-term rate of return on plan assets assumption during 2012 for the U.S and International pension plans, respectively. Differences between actual and expected asset returns are recognized in the net periodic benefit cost over the remaining service period of the active participating employees. | |||||||||||||||||||||||||
The rate of future compensation increases is an assumption used by the actuarial consultants for pension accounting and is determined based on the Company’s current expectation for such increases. | |||||||||||||||||||||||||
Investment Policy: | |||||||||||||||||||||||||
The Investment Committee for the Company’s U.S. pension plans (the “Investment Committee”) has adopted (and revises from time to time) an investment policy for the U.S. pension plans with the objective of meeting or exceeding, over time, the expected long-term rate of return on plan assets assumption, weighed against a reasonable risk level. In connection with this objective, the Investment Committee retains a professional investment advisor who recommends investment managers that invest plan assets in the following asset classes: common and preferred stock, mutual funds, fixed income securities, common and collective funds, hedge funds, group annuity contracts and cash and other investments. The Company’s international plans follow a similar methodology in conjunction with local actuarial consultants and asset managers. | |||||||||||||||||||||||||
The investment policy adopted by the Investment Committee provides for investments in a broad range of publicly-traded securities, among other things. The investments are in domestic and international stocks, ranging from small to large capitalization stocks, debt securities ranging from domestic and international treasury issues, corporate debt securities, mortgages and asset-backed issues. Other investments may include cash and cash equivalents and hedge funds. The investment policy also allows for private equity, not covered in investments described above, provided that such investment is approved by the Investment Committee prior to their selection. Also, global balanced strategies are utilized to provide for investments in a broad range of publicly traded stocks and bonds in both domestic and international markets as described above. In addition, the global balanced strategies can include commodities, provided that such investments are approved by the Investment Committee prior to their selection. | |||||||||||||||||||||||||
The Investment Committee’s investment policy does not allow the use of derivatives for speculative purposes, but such policy does allow its investment managers to use derivatives for the purpose of reducing risk exposures or to replicate exposures of a particular asset class. | |||||||||||||||||||||||||
The Company’s U.S. and international pension plans have target ranges which are intended to be flexible guidelines for allocating the plans’ assets among various classes of assets. These target ranges are reviewed periodically and considered for readjustment when an asset class weighting is outside of its target range (recognizing that these are flexible target ranges that may vary from time to time) with the objective of achieving the expected long-term rate of return on plan assets assumption, weighed against a reasonable risk level. The target ranges per asset class are as follows: | |||||||||||||||||||||||||
Target Ranges | |||||||||||||||||||||||||
U.S. Plans | International Plans | ||||||||||||||||||||||||
Asset Class: | |||||||||||||||||||||||||
Common and preferred stock | 0% —10 | % | — | ||||||||||||||||||||||
Mutual funds | 20% —30 | % | — | ||||||||||||||||||||||
Fixed income securities | 10% —30 | % | — | ||||||||||||||||||||||
Common and collective funds | 25% —55 | % | 100 | % | |||||||||||||||||||||
Hedge funds | 0% —15 | % | — | ||||||||||||||||||||||
Group annuity contract | 0% —5 | % | — | ||||||||||||||||||||||
Cash and other investments | 0% —10 | % | — | ||||||||||||||||||||||
Fair Value of Pension Plan Assets: | |||||||||||||||||||||||||
The following table presents information on the fair value of the U.S. and international pension plan assets at December 31, 2012 and 2011: | |||||||||||||||||||||||||
U.S. Plans | International Plans | ||||||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||||||||||||
Fair value of plan assets | $ | 461.9 | $ | 413.7 | $ | 58.3 | $ | 50.1 | |||||||||||||||||
The Company determines the fair values of the Company’s U.S. and international pension plan assets as follows: | |||||||||||||||||||||||||
• | Common and preferred stock: The fair values of the investments included in the common and preferred stock asset class generally reflect the closing price reported on the major market where the individual securities are traded. The Company classifies common and preferred stock investments within Level 1 of the fair value hierarchy. | ||||||||||||||||||||||||
• | Mutual funds: The fair values of the investments included in the mutual funds asset class are determined using net asset value (“NAV”) provided by the administrator of the funds. The NAV is based on the closing price reported on the major market where the individual securities within the mutual fund are traded. The Company classifies mutual fund investments within Level 1 of the fair value hierarchy. | ||||||||||||||||||||||||
• | Fixed income securities: The fair values of the investments included in the fixed income securities asset class are based on a compilation of primarily observable market information and/or broker quotes. The Company classifies fixed income securities investments primarily within Level 2 of the fair value hierarchy. | ||||||||||||||||||||||||
• | Common and collective funds: The fair values of the investments included in the common and collective funds asset class are determined using NAV provided by the administrator of the funds. The NAV is based on the value of the underlying assets owned by the common and collective fund, minus its liabilities, and then divided by the number of shares outstanding. The Company classifies common and collective fund investments within Level 2 of the fair value hierarchy. | ||||||||||||||||||||||||
• | Hedge funds: The hedge fund asset class includes hedge funds that primarily invest in a grouping of equities, fixed income instruments, currencies, derivatives and/or commodities. The fair value of investments included in the hedge funds class are determined using NAV provided by the administrator of the funds. The NAV is based on securities listed or quoted on a national securities exchange or market, or traded in the over-the-counter market, and is valued at the closing quotation posted by that exchange or trading system. Securities not listed or quoted on a national securities exchange or market are valued primarily through observable market information or broker quotes. The hedge fund investments generally can be sold on a quarterly or monthly basis and may employ leverage. The Company classifies hedge fund investments within Level 2 of the fair value hierarchy. | ||||||||||||||||||||||||
• | Group annuity contract: The group annuity contract asset class primarily invests in equities, corporate bonds and government bonds. The fair value of securities listed or quoted on a national securities exchange or market, or traded in the over-the-counter market, are valued at the closing quotation posted by that exchange or trading system. Securities not listed or quoted on a national securities exchange or market are valued primarily through observable market information or broker quotes. The Company classifies group annuity contract investments within Level 2 of the fair value hierarchy. | ||||||||||||||||||||||||
• | Cash and cash equivalents: Cash and cash equivalents are measured at cost, which approximates fair value. The Company classifies cash and cash equivalents within Level 1 of the fair value hierarchy. | ||||||||||||||||||||||||
The fair values of the U.S. and International pension plan assets at December 31, 2012, by asset categories were as follows: | |||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets for | Inputs | Inputs | |||||||||||||||||||||||
Identical | (Level 2) | (Level 3) | |||||||||||||||||||||||
Assets (Level 1) | |||||||||||||||||||||||||
Common and Preferred Stock: | |||||||||||||||||||||||||
U.S. small/mid cap equity | $ | 18.9 | $ | 18.9 | $ | — | $ | — | |||||||||||||||||
Mutual Funds(a): | |||||||||||||||||||||||||
Corporate bonds | 19.4 | 19.4 | — | — | |||||||||||||||||||||
Government bonds | 16 | 16 | — | — | |||||||||||||||||||||
U.S. large cap equity | 63.2 | 63.2 | — | — | |||||||||||||||||||||
International equities | 4.6 | 4.6 | — | — | |||||||||||||||||||||
Emerging markets international equity | 5 | 5 | — | — | |||||||||||||||||||||
Other | 3.6 | 3.6 | — | — | |||||||||||||||||||||
Fixed Income Securities: | |||||||||||||||||||||||||
Corporate bonds | 49.8 | — | 49.2 | 0.6 | |||||||||||||||||||||
Government bonds | 9.9 | — | 9.9 | — | |||||||||||||||||||||
Common and Collective Funds(a) : | |||||||||||||||||||||||||
Corporate bonds | 57 | — | 57 | — | |||||||||||||||||||||
Government bonds | 70.2 | — | 70.2 | — | |||||||||||||||||||||
U.S. large cap equity | 27 | — | 27 | — | |||||||||||||||||||||
U.S. small/mid cap equity | 17.7 | — | 17.7 | — | |||||||||||||||||||||
International equities | 74.3 | — | 74.3 | — | |||||||||||||||||||||
Emerging markets international equity | 17.7 | — | 17.7 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 3 | — | 3 | — | |||||||||||||||||||||
Other | 1.1 | — | 1.1 | — | |||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets for | Inputs | Inputs | |||||||||||||||||||||||
Identical | (Level 2) | (Level 3) | |||||||||||||||||||||||
Assets (Level 1) | |||||||||||||||||||||||||
Hedge Funds(a): | |||||||||||||||||||||||||
Corporate bonds | 4.2 | — | 4.2 | — | |||||||||||||||||||||
Government bonds | 30.9 | — | 30.9 | — | |||||||||||||||||||||
U.S. large cap equity | 4.6 | — | 4.6 | — | |||||||||||||||||||||
International equities | 3.1 | — | 3.1 | — | |||||||||||||||||||||
Foreign exchange contracts | — | — | — | — | |||||||||||||||||||||
Cash and Cash Equivalents | 6 | — | 6 | — | |||||||||||||||||||||
Other | 3.8 | — | 3.8 | — | |||||||||||||||||||||
Group Annuity Contract | 2.3 | — | 2.3 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 6.9 | 6.9 | — | — | |||||||||||||||||||||
Fair value of plan assets at December 31, 2012 | $ | 520.2 | $ | 137.6 | $ | 382 | $ | 0.6 | |||||||||||||||||
The fair values of the U.S. and International pension plan assets at December 31, 2011, by asset categories were as follows: | |||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets for | Inputs | Inputs | |||||||||||||||||||||||
Identical | (Level 2) | (Level 3) | |||||||||||||||||||||||
Assets (Level 1) | |||||||||||||||||||||||||
Common and Preferred Stock: | |||||||||||||||||||||||||
U.S. small/mid cap equity | $ | 15.7 | $ | 15.7 | $ | — | $ | — | |||||||||||||||||
Mutual Funds(a): | |||||||||||||||||||||||||
Corporate bonds | 23.1 | 23.1 | — | — | |||||||||||||||||||||
Government bonds | 10.1 | 10.1 | — | — | |||||||||||||||||||||
U.S. large cap equity | 53.9 | 53.9 | — | — | |||||||||||||||||||||
International equities | 1.6 | 1.6 | — | — | |||||||||||||||||||||
Emerging markets international equity | 3.8 | 3.8 | — | — | |||||||||||||||||||||
Other | 3.7 | 3.7 | — | — | |||||||||||||||||||||
Fixed Income Securities: | |||||||||||||||||||||||||
Corporate bonds | 86.1 | — | 86.1 | — | |||||||||||||||||||||
Government bonds | 30.4 | — | 30.4 | — | |||||||||||||||||||||
Common and Collective Funds(a) : | |||||||||||||||||||||||||
Corporate bonds | 31.7 | — | 31.7 | — | |||||||||||||||||||||
Government bonds | 28.5 | — | 28.5 | — | |||||||||||||||||||||
U.S. large cap equity | 18.7 | — | 18.7 | — | |||||||||||||||||||||
U.S. small/mid cap equity | 14.5 | — | 14.5 | — | |||||||||||||||||||||
International equities | 64.3 | — | 64.3 | — | |||||||||||||||||||||
Emerging markets international equity | 15.2 | — | 15.2 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 0.8 | — | 0.8 | — | |||||||||||||||||||||
Other | 4.5 | — | 4.5 | — | |||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets for | Inputs | Inputs | |||||||||||||||||||||||
Identical | (Level 2) | (Level 3) | |||||||||||||||||||||||
Assets (Level 1) | |||||||||||||||||||||||||
Hedge Funds(a): | |||||||||||||||||||||||||
Government bonds | 23.9 | — | 23.9 | — | |||||||||||||||||||||
U.S. large cap equity | 1.9 | — | 1.9 | — | |||||||||||||||||||||
International equities | 3.5 | — | 3.5 | — | |||||||||||||||||||||
Foreign exchange contracts | 5 | — | 5 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 0.7 | 0.7 | — | — | |||||||||||||||||||||
Other | 4.3 | — | 4.3 | — | |||||||||||||||||||||
Group Annuity Contract | 2.1 | — | 2.1 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 15.8 | 15.8 | — | — | |||||||||||||||||||||
Fair value of plan assets at December 31, 2011 | $ | 463.8 | $ | 128.4 | $ | 335.4 | $ | — | |||||||||||||||||
(a) | The investments in mutual funds, common and collective funds and hedge funds are disclosed above within the respective underlying investments’ class (i.e., various equities, corporate bonds, government bonds and other investment classes), while the fair value hierarchy levels of the investments are based on the Company’s direct ownership unit of account. | ||||||||||||||||||||||||
The following table sets forth a summary of changes in the fair values of the U.S. and International pension plans’ Level 3 assets for the years ended December 31, 2012 and 2011: | |||||||||||||||||||||||||
Total | Fixed | Hedge | |||||||||||||||||||||||
Income | Funds | ||||||||||||||||||||||||
Securities | |||||||||||||||||||||||||
Balance, January 1, 2011 | $ | 13.5 | $ | 0.1 | $ | 13.4 | |||||||||||||||||||
Actual return on plan assets sold during the year | (0.1 | ) | — | (0.1 | ) | ||||||||||||||||||||
Purchases, sales, and settlements, net | (13.4 | ) | (0.1 | ) | (13.3 | ) | |||||||||||||||||||
Balance, December 31, 2011 | $ | — | $ | — | $ | — | |||||||||||||||||||
Purchases, sales, and settlements, net | 0.6 | 0.6 | — | ||||||||||||||||||||||
Balance, December 31, 2012 | $ | 0.6 | $ | 0.6 | $ | — | |||||||||||||||||||
Contributions: | |||||||||||||||||||||||||
The Company’s intent is to fund at least the minimum contributions required to meet applicable federal employee benefit and local laws, or to directly pay benefit payments where appropriate. During 2012, the Company contributed $29.0 million to its pension plans and $0.8 million to its other post-retirement benefit plans. During 2013, the Company expects to contribute approximately $20 million to its pension and other post-retirement benefit plans. | |||||||||||||||||||||||||
Estimated Future Benefit Payments: | |||||||||||||||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid out of the Company’s pension and other post-retirement benefit plans: | |||||||||||||||||||||||||
Total | Total | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||
2013 | $ | 39.9 | $ | 1.3 | |||||||||||||||||||||
2014 | 40.9 | 1.3 | |||||||||||||||||||||||
2015 | 41.6 | 1.3 | |||||||||||||||||||||||
2016 | 42.4 | 1.3 | |||||||||||||||||||||||
2017 | 43.1 | 1.3 | |||||||||||||||||||||||
Years 2018 to 2022 | 226.3 | 6.1 |
STOCK_COMPENSATION_PLAN
STOCK COMPENSATION PLAN | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
STOCK COMPENSATION PLAN | ' | ||||||||||||||||
15. STOCK COMPENSATION PLAN | |||||||||||||||||
Revlon, Inc. maintains the Stock Plan, which provides for awards of stock options, stock appreciation rights, restricted or unrestricted stock and restricted stock units to eligible employees and directors of Revlon, Inc. and its affiliates, including Products Corporation. | |||||||||||||||||
Stock options: | |||||||||||||||||
Non-qualified stock options granted under the Stock Plan are granted at prices that equal or exceed the fair market value of Revlon, Inc.’s Class A Common Stock on the grant date and have a term of 7 years (option grants under the Stock Plan prior to June 4, 2004 have a term of 10 years). Option grants generally vest over service periods that range from 1 year to 4 years. | |||||||||||||||||
Total net stock option compensation expense includes amounts attributable to the granting of, and the remaining requisite service period of, stock options issued under the Stock Plan, which awards were unvested at January 1, 2006 or granted on or after such date. All stock options were fully vested as of December 31, 2009. | |||||||||||||||||
At December 31, 2012, 2011 and 2010, there were 8,105; 264,509; and 987,886 stock options exercisable under the Stock Plan, respectively. | |||||||||||||||||
A summary of stock option activity for the years ended December 31, 2012, 2011 and 2010 is presented below: | |||||||||||||||||
Stock | Weighted | ||||||||||||||||
Options | Average | ||||||||||||||||
(000’s) | Exercise | ||||||||||||||||
Price | |||||||||||||||||
Outstanding at January 1, 2010 | 1,231.30 | $ | 33.17 | ||||||||||||||
Forfeited and expired | (243.4 | ) | 39.22 | ||||||||||||||
Outstanding at December 31, 2010 | 987.9 | 31.68 | |||||||||||||||
Forfeited and expired | (723.4 | ) | 31.92 | ||||||||||||||
Outstanding at December 31, 2011 | 264.5 | 31.02 | |||||||||||||||
Forfeited and expired | (256.4 | ) | 31.06 | ||||||||||||||
Outstanding at December 31, 2012 | 8.1 | 29.91 | |||||||||||||||
The following table summarizes significant ranges of the Stock Plan’s stock options outstanding and exercisable at December 31, 2012: | |||||||||||||||||
Outstanding and Exercisable | |||||||||||||||||
Range of Exercise Prices | Number | Weighted | Weighted | Aggregate | |||||||||||||
of | Average | Average | Intrinsic | ||||||||||||||
Options | Years | Exercise | Value | ||||||||||||||
(000’s) | Remaining | Price | |||||||||||||||
$27.50 to $30.60 | 8.1 | 0.5 | $ | 29.91 | — | ||||||||||||
Restricted stock awards and restricted stock units: | |||||||||||||||||
The Stock Plan allows for awards of restricted stock and restricted stock units to employees and directors of Revlon, Inc. and its affiliates, including Products Corporation. The restricted stock awards granted under the Stock Plan vest over service periods that generally range from 1.5 years to 3 years. There have not been any restricted stock awards granted since 2009. | |||||||||||||||||
A summary of the restricted stock and restricted stock units activity for the years ended December 31, 2012, 2011 and 2010 is presented below: | |||||||||||||||||
Restricted | Weighted | ||||||||||||||||
Stock | Average | ||||||||||||||||
(000’s) | Grant | ||||||||||||||||
Date Fair | |||||||||||||||||
Value | |||||||||||||||||
Outstanding at January 1, 2010 | 1,141.40 | $ | 8.48 | ||||||||||||||
Vested(a) | (430.2 | ) | 8.94 | ||||||||||||||
Forfeited | (20.5 | ) | 8.13 | ||||||||||||||
Outstanding at December 31, 2010 | 690.7 | 8.2 | |||||||||||||||
Vested(a) | (419.5 | ) | 8.95 | ||||||||||||||
Forfeited | (13.8 | ) | 7.15 | ||||||||||||||
Outstanding at December 31, 2011 | 257.4 | 7.04 | |||||||||||||||
Vested(a) | (257.4 | ) | 7.04 | ||||||||||||||
Outstanding at December 31, 2012 | — | ||||||||||||||||
(a) | Of the amounts vested during 2012, 2011 and 2010, 83,582; 138,433; and 147,161 shares, respectively, were withheld by the Company to satisfy certain grantees’ minimum withholding tax requirements, which withheld shares became Revlon, Inc. treasury stock and are not sold on the open market. | ||||||||||||||||
The Company recognizes non-cash compensation expense related to restricted stock awards and restricted stock units under the Stock Plan using the straight-line method over the remaining service period. The Company recorded compensation expense related to restricted stock awards under the Stock Plan of $0.3 million, $1.9 million and $3.6 million during 2012, 2011 and 2010, respectively. The deferred stock-based compensation related to restricted stock awards was nil and $0.3 million at December 31, 2012 and 2011, respectively. The total fair value of restricted stock and restricted stock units that vested during the years ended December 31, 2012 and 2011 was $3.7 million and $4.2 million, respectively. |
ACCUMULATED_OTHER_COMPREHENSIV
ACCUMULATED OTHER COMPREHENSIVE LOSS | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Equity [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE LOSS | ' | ' | ||||||||||||||||||||||||||||||||
7. ACCUMULATED OTHER COMPREHENSIVE LOSS | 16. ACCUMULATED OTHER COMPREHENSIVE LOSS | |||||||||||||||||||||||||||||||||
The components of accumulated other comprehensive loss as of September 30, 2013 are as follows: | The components of accumulated other comprehensive loss as of December 31 2012, 2011 and 2010, respectively, are as follows: | |||||||||||||||||||||||||||||||||
Foreign | Actuarial (Loss) | Accumulated | Foreign | Actuarial | Prior Service | Deferred | Accumulated | |||||||||||||||||||||||||||
Currency | Gain on Post- | Other | Currency | (Loss) Gain | Cost on Post- | Loss - | Other | |||||||||||||||||||||||||||
Translation | retirement | Comprehensive | Translation | on Post- | retirement | Hedging | Comprehensive | |||||||||||||||||||||||||||
Benefits | Loss | retirement | Benefits | Loss | ||||||||||||||||||||||||||||||
Balance January 1, 2013 | $ | 23.3 | $ | (231.5 | ) | $ | (208.2 | ) | Benefits | |||||||||||||||||||||||||
Currency translation adjustment, net of tax expense of $3.2 | (3.6 | ) | — | (3.6 | ) | Balance January 1, 2010 | $ | 25.7 | $ | (181.6 | ) | $ | (0.3 | ) | $ | (1.7 | ) | $ | (157.9 | ) | ||||||||||||||
Amortization of pension related costs, net of tax benefit of $(0.9) | — | 5.8 | 5.8 | Unrealized gains (losses) | 7.4 | — | — | — | 7.4 | |||||||||||||||||||||||||
Reclassifications into net income(b) | — | — | — | 1.7 | 1.7 | |||||||||||||||||||||||||||||
Other comprehensive (loss) income | (3.6 | ) | 5.8 | 2.2 | Amortization of pension related costs(a) | — | 5.3 | 0.1 | — | 5.4 | ||||||||||||||||||||||||
Pension re-measurement | — | (8.4 | ) | — | — | (8.4 | ) | |||||||||||||||||||||||||||
Balance September 30, 2013 | $ | 19.7 | $ | (225.7 | ) | $ | (206.0 | ) | Pension curtailment gain(c) | — | 1.5 | — | — | 1.5 | ||||||||||||||||||||
Balance December 31, 2010 | 33.1 | (183.2 | ) | (0.2 | ) | — | (150.3 | ) | ||||||||||||||||||||||||||
Unrealized gains (losses), net of tax of $1.8 million | (8.3 | ) | — | — | — | (8.3 | ) | |||||||||||||||||||||||||||
Amortization of pension related costs, net of tax of $(2.0) million(a) | — | 3.5 | 0.1 | — | 3.6 | |||||||||||||||||||||||||||||
Pension re-measurement, net of tax of $30.1 million | — | (45.9 | ) | — | — | (45.9 | ) | |||||||||||||||||||||||||||
Balance December 31, 2011 | 24.8 | (225.6 | ) | (0.1 | ) | — | (200.9 | ) | ||||||||||||||||||||||||||
Unrealized gains (losses), net of tax of $1.0 million | (1.5 | ) | — | — | — | (1.5 | ) | |||||||||||||||||||||||||||
Amortization of pension related costs, net of tax of $(1.0) million(a)(e) | — | 9.4 | — | — | 9.4 | |||||||||||||||||||||||||||||
Pension re-measurement, net of tax of $7.2 million | — | (15.4 | ) | — | — | (15.4 | ) | |||||||||||||||||||||||||||
Pension curtailment gain(d) | — | 0.1 | 0.1 | — | 0.2 | |||||||||||||||||||||||||||||
Balance December 31, 2012 | $ | 23.3 | $ | (231.5 | ) | $ | — | $ | — | $ | (208.2 | ) | ||||||||||||||||||||||
(a) | Amounts represent the change in Accumulated Other Comprehensive Loss as a result of the amortization of unrecognized prior service costs and actuarial losses (gains) arising during each year related to the Company’s pension and other post-retirement plans. (See Note 14, “Savings Plan, Pension and Post-retirement Benefits”). | |||||||||||||||||||||||||||||||||
(b) | Amounts related to “Deferred Loss – Hedging” in 2010 represent (1) the reclassification of an unrecognized loss of $0.8 million on the 2008 Interest Rate Swap prior to its expiration in April 2010 from Accumulated Other Comprehensive Loss into earnings due to the discontinuance of hedge accounting as a result of the 2010 refinancing of the 2006 bank term loan facility (see Note 12, “Financial Instruments”) and (2) the reversal of amounts recorded in Accumulated Other Comprehensive Loss pertaining to the net settlement payment of $0.9 million on the 2008 Interest Rate Swap. | |||||||||||||||||||||||||||||||||
(c) | The Company recognized a $1.5 million curtailment gain in 2010, primarily in connection with the amendments to its Canadian defined benefit pension plan in 2010, which reduced pension liability and was recorded as an offset against the net actuarial losses previously reported within Accumulated Other Comprehensive Loss. (See Note 14, “Savings Plan, Pension and Post-retirement Benefits”). | |||||||||||||||||||||||||||||||||
(d) | As a result of the September 2012 Program, the Company recognized a curtailment gain of $1.7 million, partially offset by $0.1 million of accumulated actuarial losses and $0.1 million of prior service costs previously reported within Accumulated Other Comprehensive Loss, for a net gain of $1.5 million, which was recorded within restructuring charges for the year ended December 31, 2012. (See Note 14, “Savings Plan, Pension and Post-retirement Benefits”). | |||||||||||||||||||||||||||||||||
(e) | Included in this amount is a $2.0 million reclassification adjustment recorded in the first quarter of 2012 related to deferred taxes on the amortization of actuarial losses. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
COMMITMENTS AND CONTINGENCIES | ' | ||||||||||||||||||||||||||||
17. COMMITMENTS AND CONTINGENCIES | |||||||||||||||||||||||||||||
Products Corporation currently leases manufacturing, executive, research and development, and sales facilities and various types of equipment under operating and capital lease agreements. Rental expense was $16.7 million, $17.7 million and $16.9 million for the years ended December 31, 2012, 2011 and 2010, respectively. Minimum rental commitments under all noncancelable leases, including those pertaining to idled facilities, are presented below. | |||||||||||||||||||||||||||||
Minimum Rental Commitments | Total | 2013 | 2014 | 2015 | 2016 | 2017 | Thereafter | ||||||||||||||||||||||
Capital leases | $ | 5.6 | $ | 2.5 | $ | 1.9 | $ | 0.9 | $ | 0.3 | $ | — | $ | — | |||||||||||||||
Operating leases | 62.8 | 18.1 | 13.5 | 6.6 | 5.9 | 3.4 | 15.3 | ||||||||||||||||||||||
The Company is involved in various routine legal proceedings incident to the ordinary course of its business. The Company believes that the outcome of all pending legal proceedings in the aggregate is unlikely to have a material adverse effect on the Company’s business, financial condition and/or its results of operations. However, in light of the uncertainties involved in legal proceedings generally, the ultimate outcome of a particular matter could be material to the Company’s operating results for a particular period depending on, among other things, the size of the loss or the nature of the liability imposed and the level of the Company’s income for that particular period. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Related Party Transactions [Abstract] | ' | ' |
RELATED PARTY TRANSACTIONS | ' | ' |
12. RELATED PARTY TRANSACTIONS | 18. RELATED PARTY TRANSACTIONS | |
Reimbursement Agreements | As of December 31, 2012, MacAndrews & Forbes beneficially owned shares of Revlon, Inc.’s Class A Common Stock and Class B Common Stock having approximately 77% of the combined voting power of all of Revlon, Inc.’s outstanding shares of Common Stock and Preferred Stock. Revlon, Inc. in turn directly owns all 5,260 outstanding shares of Products Corporation’s common stock. As a result, MacAndrews & Forbes is able to elect the entire Board of Directors of Revlon, Inc. and Products Corporation and control the vote on all matters submitted to a vote of Revlon, Inc.’s and Products Corporation’s stockholders. MacAndrews & Forbes is wholly-owned by Ronald O. Perelman, Chairman of Revlon, Inc.’s and Products Corporation’s Board of Directors. | |
As previously disclosed in the Company's 2012 Form 10-K, Revlon, Inc., Products Corporation and MacAndrews & Forbes Inc. (a wholly-owned subsidiary of MacAndrews & Forbes Holdings) have entered into reimbursement agreements (the "Reimbursement Agreements") pursuant to which (i) MacAndrews & Forbes Inc. is obligated to provide (directly or through its affiliates) certain professional and administrative services, including, without limitation, employees, to Revlon, Inc. and its subsidiaries, including, without limitation, Products Corporation, and to purchase services from third party providers, such as insurance, legal, accounting and air transportation services, on behalf of Revlon, Inc. and its subsidiaries, including Products Corporation, to the extent requested by Products Corporation, and (ii) Products Corporation is obligated to provide certain professional and administrative services, including, without limitation, employees, to MacAndrews & Forbes and to purchase services from third party providers, such as insurance, legal and accounting services, on behalf of MacAndrews & Forbes to the extent requested by MacAndrews & Forbes, provided that in each case the performance of such services does not cause an unreasonable burden to MacAndrews & Forbes or Products Corporation, as the case may be. | Transfer Agreements | |
In June 1992, Revlon, Inc. and Products Corporation entered into an asset transfer agreement with Revlon Holdings LLC, a Delaware limited liability company and formerly a Delaware corporation known as Revlon Holdings Inc. (“Revlon Holdings”), and which is an affiliate and an indirect wholly-owned subsidiary of MacAndrews & Forbes, and certain of Revlon Holdings’ wholly-owned subsidiaries. Revlon, Inc. and Products Corporation also entered into a real property asset transfer agreement with Revlon Holdings. Pursuant to such agreements, on June 24, 1992, Revlon Holdings transferred certain assets to Products Corporation and Products Corporation assumed all of the liabilities of Revlon Holdings, other than certain specifically excluded assets and liabilities (the liabilities excluded are referred to as the “Excluded Liabilities”). Certain consumer products lines sold in demonstrator-assisted distribution channels considered not integral to the Company’s business and that historically had not been profitable and certain other assets and liabilities were retained by Revlon Holdings. Revlon Holdings agreed to indemnify Revlon, Inc. and Products Corporation against losses arising from the Excluded Liabilities, and Revlon, Inc. and Products Corporation agreed to indemnify Revlon Holdings against losses arising from the liabilities assumed by Products Corporation. The amounts reimbursed by Revlon Holdings to Products Corporation for the Excluded Liabilities was $0.3 million for 2012 and $0.3 million for each of 2011 and 2010. As of both December 31, 2012 and 2011, a $0.1 million receivable from MacAndrews & Forbes was included within prepaid expenses and other in the Company’s Consolidated Balance Sheets for transactions subject to the Transfer Agreements. | ||
The Company reimburses MacAndrews & Forbes for the allocable costs of the services purchased for or provided by MacAndrews & Forbes to the Company and its subsidiaries and for the reasonable out-of-pocket expenses incurred by MacAndrews & Forbes in connection with the provision of such services. MacAndrews & Forbes reimburses Products Corporation for the allocable costs of the services purchased for or provided by Products Corporation to MacAndrews & Forbes and for the reasonable out-of-pocket expenses incurred in connection with the purchase or provision of such services. Each of the Company, on the one hand, and MacAndrews & Forbes Inc., on the other, has agreed to indemnify the other party for losses arising out of the services provided by it under the Reimbursement Agreements, other than losses resulting from its willful misconduct or gross negligence. | Reimbursement Agreements | |
The Reimbursement Agreements may be terminated by either party on 90 days’ notice. The Company does not intend to request services under the Reimbursement Agreements unless their costs would be at least as favorable to the Company as could be obtained from unaffiliated third parties. | Revlon, Inc., Products Corporation and MacAndrews & Forbes Inc. (a wholly-owned subsidiary of MacAndrews & Forbes Holdings) have entered into reimbursement agreements (the “Reimbursement Agreements”) pursuant to which (i) MacAndrews & Forbes Inc. is obligated to provide (directly or through its affiliates) certain professional and administrative services, including, without limitation, employees, to Revlon, Inc. and its subsidiaries, including, without limitation, Products Corporation, and to purchase services from third party providers, such as insurance, legal, accounting and air transportation services, on behalf of Revlon, Inc. and its subsidiaries, including Products Corporation, to the extent requested by Products Corporation, and (ii) Products Corporation is obligated to provide certain professional and administrative services, including, without limitation, employees, to MacAndrews & Forbes and to purchase services from third party providers, such as insurance, legal and accounting services, on behalf of MacAndrews & Forbes to the extent requested by MacAndrews & Forbes, provided that in each case the performance of such services does not cause an unreasonable burden to MacAndrews & Forbes or Products Corporation, as the case may be. | |
Revlon, Inc. and the Company participate in MacAndrews & Forbes’ directors and officers liability insurance program (the “D&O Insurance Program”), as well as its other insurance coverages, such as property damage, business interruption, liability and other coverages, which cover Revlon, Inc. and the Company, as well as MacAndrews & Forbes and its subsidiaries. The limits of coverage for certain of the policies are available on an aggregate basis for losses to any or all of the participating companies and their respective directors and officers. The Company reimburses MacAndrews & Forbes from time to time for their allocable portion of the premiums for such coverage or the Company pays the insurers directly, which premiums the Company believes are more favorable than the | The Company reimburses MacAndrews & Forbes for the allocable costs of the services purchased for or provided by MacAndrews & Forbes to the Company and its subsidiaries and for the reasonable out-of-pocket expenses incurred by MacAndrews & Forbes in connection with the provision of such services. MacAndrews & Forbes reimburses Products Corporation for the allocable costs of the services purchased for or provided by Products Corporation to MacAndrews & Forbes and for the reasonable out-of-pocket expenses incurred in connection with the purchase or provision of such services. Each of the Company, on the one hand, and MacAndrews & Forbes Inc., on the other, has agreed to indemnify the other party for losses arising out of the services provided by it under the Reimbursement Agreements, other than losses resulting from its willful misconduct or gross negligence. | |
premiums the Company would pay were it to secure stand-alone coverage. Any amounts paid by the Company directly to MacAndrews & Forbes in respect of premiums are included in the amounts paid under the Reimbursement Agreements. | The Reimbursement Agreements may be terminated by either party on 90 days’ notice. The Company does not intend to request services under the Reimbursement Agreements unless their costs would be at least as favorable to the Company as could be obtained from unaffiliated third parties. | |
The net activity related to services provided and/or purchased under the Reimbursement Agreements during the nine months ended September 30, 2013 was $6.1 million, which includes a $6.1 million partial payment made by the Company to MacAndrews & Forbes during the first quarter of 2013 for premiums related to the Company’s allocable portion of the 5-year renewal of the D&O Insurance Program for the period from January 31, 2012 through January 31, 2017. The net activity related to services provided and/or purchased under the Reimbursement Agreements during the nine months ended September 30, 2012 was $15.0 million, which primarily includes the initial $14.6 million partial pre-payment made by the Company to MacAndrews & Forbes during the first quarter of 2012 for premiums related to the Company’s allocable portion of the D&O Insurance Program. As of September 30, 2013 and December 31, 2012, a receivable balance of nil and $0.1 million, respectively, from MacAndrews & Forbes was included within prepaid expenses and other in the Company’s Consolidated Balance Sheets for transactions subject to the Reimbursement Agreements. | Revlon, Inc. and the Company participate in MacAndrews & Forbes’ directors and officers liability insurance program (the “D&O Insurance Program”), as well as its other insurance coverages, such as property damage, business interruption, liability and other coverages, which cover Revlon, Inc. and the Company, as well as MacAndrews & Forbes and its subsidiaries. The limits of coverage for certain of the policies are available on an aggregate basis for losses to any or all of the participating companies and their respective directors and officers. The Company reimburses MacAndrews & Forbes from time to time for its allocable portion of the premiums for such coverage or the Company pays the insurers directly, which premiums the Company believes are more favorable than the premiums the Company would pay were it to secure stand-alone coverage. Any amounts paid by the Company directly to MacAndrews & Forbes in respect of premiums are included in the amounts paid under the Reimbursement Agreements. | |
The net activity related to services provided and/or purchased under the Reimbursement Agreements during the year ended December 31, 2012 was $14.9 million, which primarily includes a $14.6 million partial pre-payment made by the Company to MacAndrews & Forbes during the first quarter of 2012 for premiums related to Revlon, Inc.’s and the Company’s allocable portion of the 5-year renewal of the D&O Insurance Program (for the period from January 31, 2012 through January 31, 2017). The net activity related to services provided and/or purchased under the Reimbursement Agreements for 2011 and 2010 were $(0.5) million and $0.1 million, respectively. As of December 31, 2012 and 2011, a receivable balance of $0.1 million and nil, respectively, from MacAndrews & Forbes was included within prepaid expenses and other in the Company’s Consolidated Balance Sheets for transactions subject to the Reimbursement Agreements. | ||
Tax Sharing Agreements | ||
As a result of a debt-for-equity exchange transaction completed in March 2004 (the “2004 Revlon Exchange Transactions”), as of March 25, 2004, Revlon, Inc., Products Corporation and their U.S. subsidiaries were no longer included in the MacAndrews & Forbes Group for U.S. federal income tax purposes. See Note 13, “Income Taxes,” for further discussion on these agreements and related transactions in 2012, 2011 and 2010. | ||
Amended and Restated Senior Subordinated Term Loan | ||
For a description of transactions with MacAndrews & Forbes in 2009 and 2012 in connection with the Senior Subordinated Term Loan and the Amended and Restated Senior Subordinated Term Loan, including, without limitation, the extension of the maturity date and the change in the annual interest rate on the Contributed Loan and the Non-Contributed Loan portions of the Senior Subordinated Term Loan in 2009 and MacAndrews & Forbes assigning its interest in the Non-Contributed Loan to various third parties in 2012, see Note 10, “Long-Term Debt — Amended and Restated Senior Subordinated Term Loan Agreement.” | ||
Other | ||
Pursuant to a lease dated April 2, 1993 (the “Edison Lease”), Revlon Holdings leased to Products Corporation the Edison, N.J. research and development facility for a term of up to 10 years with an annual rent of $1.4 million and certain shared operating expenses payable by Products Corporation which, together with the annual rent, were not to exceed $2.0 million per year. In August 1998, Revlon Holdings sold the Edison facility to an unrelated third party, which assumed substantially all liability for environmental claims and compliance costs relating to the Edison facility, and in connection with such sale Products Corporation terminated the Edison Lease and entered into a new lease with the new owner. Revlon Holdings agreed to indemnify Products Corporation through September 1, 2013 (the original term of the new lease) to the extent that rent under the new lease exceeds the rent that would have been payable under the terminated Edison Lease had it not been terminated. Effective October 2010, Products Corporation entered into a renewal of the lease with the owner through September 2025. The Revlon Holdings indemnification obligation will terminate on September 1, 2013. The net amounts reimbursed by Revlon Holdings to Products Corporation with respect to the Edison facility for 2012, 2011 and 2010 were $0.1 million, $0.1 million and $0.3 million, respectively. | ||
Certain of Products Corporation’s debt obligations, including the 2011 Credit Agreements and Products Corporation’s 9 3/4% Senior Secured Notes, have been, and may in the future be, supported by, among other things, guarantees from Revlon, Inc. and, subject to certain limited exceptions, all of the domestic subsidiaries of Products Corporation. The obligations under such guarantees are secured by, among other things, the capital stock of Products Corporation and, subject to certain limited exceptions, the capital stock of all of Products Corporation’s domestic subsidiaries and 66% of the capital stock of Products Corporation’s and its domestic subsidiaries’ first-tier foreign subsidiaries. See Note 22, “Subsequent Events – 2013 Senior Notes Refinancing,” for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. |
QUARTERLY_RESULTS_OF_OPERATION
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) | ' | ||||||||||||||||
19. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) | |||||||||||||||||
The following is a summary of the Company’s unaudited quarterly results of operations: | |||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||
1st | 2nd | 3rd | 4th | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Net sales | $ | 330.7 | $ | 357.1 | $ | 347 | $ | 391.3 | |||||||||
Gross profit | 215 | 232.7 | 220 | 251.9 | |||||||||||||
Income (loss) from continuing operations, net of taxes(a)(b) | 10 | 20.1 | (10.0 | ) | 50.7 | ||||||||||||
Income from discontinued operations, net of taxes | — | 0.4 | — | — | |||||||||||||
Net income (loss)(a)(b) | 10 | 20.5 | (10.0 | ) | 50.7 | ||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||
1st | 2nd | 3rd | 4th | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Net sales | $ | 333.2 | $ | 351.2 | $ | 337.2 | $ | 359.8 | |||||||||
Gross profit | 219.9 | 229.3 | 214.1 | 225.5 | |||||||||||||
Income from continuing operations, net of taxes(c) | 12 | 7.2 | 5.3 | 38.9 | |||||||||||||
Income from discontinued operations, net of taxes | — | 0.6 | — | — | |||||||||||||
Net income(c) | 12 | 7.8 | 5.3 | 38.9 | |||||||||||||
(a) | Loss from continuing operations and net loss for the third quarter of 2012 were unfavorably impacted by $24.1 million in restructuring and related charges recorded as a result of the September 2012 Program (See Note 3, “Restructuring Charges”). | ||||||||||||||||
(b) | Income from continuing operations and net income for the fourth quarter of 2012 were favorably impacted by an increase in net income driven by a non-cash benefit of $15.8 million related to the reduction of the Company’s deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions in the U.S. at December 31, 2012, as a result of the Company’s improved earnings trends and cumulative taxable income in those jurisdictions, which is reflected in the provision for income taxes (See Note 13, “Income Taxes”). | ||||||||||||||||
(c) | Income from continuing operations and net income for the fourth quarter of 2011 were favorably impacted by an increase in net income driven by a non-cash benefit of $16.9 million related to the reduction of the Company’s deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions outside the U.S. at December 31, 2011 as a result of the Company’s improved earnings trends and cumulative taxable income in those jurisdictions. (See Note 13, “Income Taxes”). |
GEOGRAPHIC_FINANCIAL_AND_OTHER
GEOGRAPHIC, FINANCIAL AND OTHER INFORMATION | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GEOGRAPHIC, FINANCIAL AND OTHER INFORMATION | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8. GEOGRAPHIC, FINANCIAL AND OTHER INFORMATION | 20. GEOGRAPHIC, FINANCIAL AND OTHER INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company manages its business on the basis of one reportable operating segment. As of September 30, 2013, the Company had operations established in 14 countries outside of the U.S. and its products are sold throughout the world. Generally, net sales by geographic area are presented by attributing revenues from external customers on the basis of where the products are sold. | The Company manages its business on the basis of one reportable operating segment. (See Note 1, “Summary of Significant Accounting Policies”, for a brief description of the Company’s business). As of December 31, 2012, the Company had operations established in 14 countries outside of the U.S. and its products are sold throughout the world. Generally, net sales by geographic area are presented by attributing revenues from external customers on the basis of where the products are sold. Walmart and its affiliates worldwide accounted for approximately 22% of the Company’s worldwide net sales in each of 2012, 2011 and 2010. The Company expects that Walmart and a small number of other customers will, in the aggregate, continue to account for a large portion of the Company’s net sales. As is customary in the consumer products industry, none of the Company’s customers is under an obligation to continue purchasing products from the Company in the future. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the tables below, certain prior year amounts have been reclassified to conform to the current period’s presentation. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geographic area: | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net sales: | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | $ | 185.8 | 55 | % | $ | 192 | 55 | % | $ | 581.8 | 57 | % | $ | 580.6 | 56 | % | Geographic area: | |||||||||||||||||||||||||||||||||||||||||
Outside of the United States | 153.6 | 45 | % | 155 | 45 | % | 439.6 | 43 | % | 454.2 | 44 | % | Net sales: | |||||||||||||||||||||||||||||||||||||||||||||
United States | $ | 800 | 56 | % | $ | 757.4 | 55 | % | $ | 729.1 | 55 | % | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 339.4 | $ | 347 | $ | 1,021.40 | $ | 1,034.80 | Outside of the United States | 626.1 | 44 | % | 624 | 45 | % | 592.3 | 45 | % | |||||||||||||||||||||||||||||||||||||||||
$ | 1,426.10 | $ | 1,381.40 | $ | 1,321.40 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-lived assets, net: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | $ | 440.9 | 91 | % | $ | 430.1 | 90 | % | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||
Outside of the United States | 46.2 | 9 | % | 48.5 | 10 | % | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-lived assets — net: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 487.1 | $ | 478.6 | United States | $ | 430.1 | 90 | % | $ | 354.3 | 88 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Outside of the United States | 48.5 | 10 | % | 48.5 | 12 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 478.6 | $ | 402.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Classes of similar products: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net sales: | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Color cosmetics | $ | 218.1 | 64 | % | $ | 225 | 65 | % | $ | 678 | 66 | % | $ | 680 | 66 | % | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||||||
Beauty care and fragrance | 121.3 | 36 | % | 122 | 35 | % | 343.4 | 34 | % | 354.8 | 34 | % | Classes of similar products: | |||||||||||||||||||||||||||||||||||||||||||||
Net sales: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 339.4 | $ | 347 | $ | 1,021.40 | $ | 1,034.80 | Color cosmetics | $ | 940 | 66 | % | $ | 880.4 | 64 | % | $ | 816.1 | 62 | % | ||||||||||||||||||||||||||||||||||||||
Beauty care and fragrance | 486.1 | 34 | % | 501 | 36 | % | 505.3 | 38 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,426.10 | $ | 1,381.40 | $ | 1,321.40 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
GUARANTOR_FINANCIAL_INFORMATIO
GUARANTOR FINANCIAL INFORMATION | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||
GUARANTOR FINANCIAL INFORMATION | ' | ' | ||||||||||||||||||||||||||||||||||||||||
13. GUARANTOR FINANCIAL INFORMATION | 21. GUARANTOR FINANCIAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||
Products Corporation’s 5 3/4% Senior Notes are fully and unconditionally guaranteed on a senior basis by Products Corporation’s domestic subsidiaries (other than certain immaterial subsidiaries) that guarantee Products Corporation’s obligations under its 2011 Credit Agreements (the “Guarantor Subsidiaries”). | Products Corporation’s 9 3/4% Senior Secured Notes are fully and unconditionally guaranteed on a senior secured basis by Revlon, Inc. and Products Corporation’s domestic subsidiaries (other than certain immaterial subsidiaries) that guarantee Products Corporation’s obligations under its 2011 Credit Agreements (the “Guarantor Subsidiaries”). See Note 22, “Subsequent Events — 2013 Senior Notes Refinancing,” for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. | |||||||||||||||||||||||||||||||||||||||||
The following Condensed Consolidating Financial Statements present the financial information as of December 31, 2012 and 2011, and for the years ended December 31, 2012, 2011 and 2010 for (i) Products Corporation on a stand-alone basis; (ii) the Guarantor Subsidiaries on a stand-alone basis; (iii) the subsidiaries of Products Corporation that do not guarantee Products Corporation’s 9 3/4% Senior Secured Notes (the “Non-Guarantor Subsidiaries”) on a stand-alone basis; and (iv) Products Corporation, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries on a consolidated basis. The Condensed Consolidating Financial Statements are presented on the equity method, under which the investments in subsidiaries are recorded at cost and adjusted for the applicable share of the subsidiary’s cumulative results of operations, capital contributions, distributions and other equity changes. The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. | ||||||||||||||||||||||||||||||||||||||||||
The following Condensed Consolidating Financial Statements present the financial information as of September 30, 2013 and December 31, 2012, and for the three and nine months ended September 30, 2013 and 2012 for (i) Products Corporation on a stand-alone basis; (ii) the Guarantor Subsidiaries on a stand-alone basis; (iii) the subsidiaries of Products Corporation that do not guarantee Products Corporation’s 5 3/4% Senior Notes (the “Non-Guarantor Subsidiaries”) on a stand-alone basis; and (iv) Products Corporation, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries on a consolidated basis. The Condensed Consolidating Financial Statements are presented on the equity method, under which the investments in subsidiaries are recorded at cost and adjusted for the applicable share of the subsidiary’s cumulative results of operations, capital contributions, distributions and other equity changes. The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. | ||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ASSETS | |||||||||||||||||||||||||||||||||||||||
ASSETS | Cash and cash equivalents | $ | 59.1 | $ | — | $ | 57.2 | $ | — | $ | 116.3 | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 103.7 | $ | 0.1 | $ | 35.5 | $ | — | $ | 139.3 | Trade receivables, less allowances for doubtful accounts | 96.2 | 23.1 | 96.7 | — | 216 | ||||||||||||||||||||||||||
Trade receivables, less allowances for doubtful accounts | 85 | 22.8 | 86.3 | — | 194.1 | Inventories | 74.1 | 6.1 | 34.5 | — | 114.7 | |||||||||||||||||||||||||||||||
Inventories | 91.7 | 11 | 39.5 | — | 142.2 | Deferred income taxes — current | 38.2 | — | 10.3 | — | 48.5 | |||||||||||||||||||||||||||||||
Deferred income taxes - current | 39.2 | — | 10.8 | — | 50 | Prepaid expenses and other | 92.1 | 4.7 | 23.7 | — | 120.5 | |||||||||||||||||||||||||||||||
Prepaid expenses and other | 110.9 | 6.4 | 25 | — | 142.3 | Intercompany receivables | 947.9 | 488.2 | 408 | (1,844.1 | ) | — | ||||||||||||||||||||||||||||||
Intercompany receivables | 963.6 | 611.5 | 429.7 | (2,004.8 | ) | — | Investment in subsidiaries | (94.6 | ) | (190.0 | ) | — | 284.6 | — | ||||||||||||||||||||||||||||
Investment in subsidiaries | (64.4 | ) | (156.9 | ) | — | 221.3 | — | Property, plant and equipment, net | 86.9 | 0.5 | 12.1 | — | 99.5 | |||||||||||||||||||||||||||||
Property, plant and equipment, net | 91.3 | 0.6 | 10.8 | — | 102.7 | Deferred income taxes — noncurrent | 189.9 | — | 13.2 | — | 203.1 | |||||||||||||||||||||||||||||||
Deferred income taxes — noncurrent | 169.4 | — | 11.8 | — | 181.2 | Goodwill | 150.6 | 65.2 | 2 | — | 217.8 | |||||||||||||||||||||||||||||||
Goodwill | 185.8 | 30 | 2.1 | — | 217.9 | Intangible assets, net | 0.9 | 61.3 | 6.6 | 68.8 | ||||||||||||||||||||||||||||||||
Intangible assets, net | 58.5 | 0.3 | 5.9 | — | 64.7 | Other assets | 63.5 | 3.5 | 25.5 | — | 92.5 | |||||||||||||||||||||||||||||||
Other assets | 75 | 1.9 | 25 | — | 101.9 | |||||||||||||||||||||||||||||||||||||
Total assets | $ | 1,704.80 | $ | 462.6 | $ | 689.8 | $ | (1,559.5 | ) | $ | 1,297.70 | |||||||||||||||||||||||||||||||
Total assets | $ | 1,909.70 | $ | 527.7 | $ | 682.4 | $ | (1,783.5 | ) | $ | 1,336.30 | |||||||||||||||||||||||||||||||
LIABILITIES AND STOCKHOLDER’S DEFICIENCY | LIABILITIES AND STOCKHOLDER’S DEFICIENCY | |||||||||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | — | $ | 4.9 | $ | 1.7 | $ | — | $ | 6.6 | Short-term borrowings | $ | — | $ | 5 | $ | — | $ | — | $ | 5 | |||||||||||||||||||||
Current portion of long-term debt | — | — | — | — | — | Current portion of long-term debt | 21.5 | — | — | — | 21.5 | |||||||||||||||||||||||||||||||
Current portion of long-term debt — affiliates | 48.6 | — | — | — | 48.6 | Current portion of long-term debt —affiliates | 48.6 | — | — | — | 48.6 | |||||||||||||||||||||||||||||||
Accounts payable | 73.7 | 5.8 | 23.9 | — | 103.4 | Accounts payable | 62.2 | 5.1 | 34.5 | — | 101.8 | |||||||||||||||||||||||||||||||
Accrued expenses and other | 140.7 | 11.9 | 72.2 | — | 224.8 | Accrued expenses and other | 155.7 | 13.8 | 95.2 | — | 264.7 | |||||||||||||||||||||||||||||||
Intercompany payables | 742.3 | 687.2 | 575.3 | (2,004.8 | ) | — | Intercompany payables | 614.6 | 650.7 | 578.8 | (1,844.1 | ) | — | |||||||||||||||||||||||||||||
Long-term debt | 1,228.20 | — | — | — | 1,228.20 | Long-term debt | 1,145.80 | — | — | — | 1,145.80 | |||||||||||||||||||||||||||||||
Other long-term liabilities | 217.9 | 3.6 | 44.9 | — | 266.4 | Other long-term liabilities | 233.1 | 6.2 | 47.7 | — | 287 | |||||||||||||||||||||||||||||||
Total liabilities | 2,451.40 | 713.4 | 718 | (2,004.8 | ) | 1,878.00 | Total liabilities | 2,281.50 | 680.8 | 756.2 | (1,844.1 | ) | 1,874.40 | |||||||||||||||||||||||||||||
Stockholder’s deficiency | (541.7 | ) | (185.7 | ) | (35.6 | ) | 221.3 | (541.7 | ) | Stockholder’s deficiency | (576.7 | ) | (218.2 | ) | (66.4 | ) | 284.6 | (576.7 | ) | |||||||||||||||||||||||
Total liabilities and stockholder’s deficiency | $ | 1,909.70 | $ | 527.7 | $ | 682.4 | $ | (1,783.5 | ) | $ | 1,336.30 | Total liabilities and stockholder’s deficiency | $ | 1,704.80 | $ | 462.6 | $ | 689.8 | $ | (1,559.5 | ) | $ | 1,297.70 | |||||||||||||||||||
Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets | |||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | As of December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||
ASSETS | ASSETS | |||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 59.1 | $ | — | $ | 57.2 | $ | — | $ | 116.3 | Cash and cash equivalents | $ | 57.7 | $ | 0.1 | $ | 43.9 | $ | — | $ | 101.7 | |||||||||||||||||||||
Trade receivables, less allowances for doubtful accounts | 96.2 | 23.1 | 96.7 | — | 216 | Trade receivables, less allowances for doubtful accounts | 107.1 | 18.2 | 86.7 | — | 212 | |||||||||||||||||||||||||||||||
Inventories | 74.1 | 6.1 | 34.5 | — | 114.7 | Inventories | 68.3 | 8.4 | 34.3 | — | 111 | |||||||||||||||||||||||||||||||
Deferred income taxes — current | 38.2 | — | 10.3 | — | 48.5 | Deferred income taxes — current | 40 | — | 9.6 | — | 49.6 | |||||||||||||||||||||||||||||||
Prepaid expenses and other | 92.1 | 4.7 | 23.7 | — | 120.5 | Prepaid expenses and other | 78.3 | 4.2 | 25.1 | — | 107.6 | |||||||||||||||||||||||||||||||
Intercompany receivables | 947.9 | 488.2 | 408 | (1,844.1 | ) | — | Intercompany receivables | 907.6 | 445.5 | 362.4 | (1,715.5 | ) | — | |||||||||||||||||||||||||||||
Investment in subsidiaries | (94.6 | ) | (190.0 | ) | — | 284.6 | — | Investment in subsidiaries | (164.2 | ) | (193.0 | ) | — | 357.2 | — | |||||||||||||||||||||||||||
Property, plant and equipment, net | 86.9 | 0.5 | 12.1 | — | 99.5 | Property, plant and equipment, net | 85.2 | 0.9 | 12.8 | — | 98.9 | |||||||||||||||||||||||||||||||
Deferred income taxes — noncurrent | 189.9 | — | 13.2 | — | 203.1 | Deferred income taxes — noncurrent | 206.9 | — | 14.5 | — | 221.4 | |||||||||||||||||||||||||||||||
Goodwill | 150.6 | 65.2 | 2 | — | 217.8 | Goodwill | 150.6 | 42.2 | 1.9 | — | 194.7 | |||||||||||||||||||||||||||||||
Intangible assets, net | 0.9 | 61.3 | 6.6 | — | 68.8 | Intangible assets, net | 0.9 | 21.7 | 6.6 | — | 29.2 | |||||||||||||||||||||||||||||||
Other assets | 63.5 | 3.5 | 25.5 | — | 92.5 | Other assets | 52.7 | 2.8 | 24.5 | — | 80 | |||||||||||||||||||||||||||||||
Total assets | $ | 1,704.80 | $ | 462.6 | $ | 689.8 | $ | (1,559.5 | ) | $ | 1,297.70 | Total assets | $ | 1,591.10 | $ | 351 | $ | 622.3 | $ | (1,358.3 | ) | $ | 1,206.10 | |||||||||||||||||||
LIABILITIES AND STOCKHOLDER’S DEFICIENCY | LIABILITIES AND STOCKHOLDER’S DEFICIENCY | |||||||||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | — | $ | 5 | $ | — | $ | — | $ | 5 | Short-term borrowings | $ | — | $ | 3.6 | $ | 2.3 | $ | — | $ | 5.9 | |||||||||||||||||||||
Current portion of long-term debt | 21.5 | — | — | — | 21.5 | Current portion of long-term debt | 8 | — | — | — | 8 | |||||||||||||||||||||||||||||||
Current portion of long-term debt — affiliates | 48.6 | — | — | — | 48.6 | Accounts payable | 56 | 3.9 | 29.1 | — | 89 | |||||||||||||||||||||||||||||||
Accounts payable | 62.2 | 5.1 | 34.5 | — | 101.8 | Accrued expenses and other | 150.8 | 10.8 | 68.4 | — | 230 | |||||||||||||||||||||||||||||||
Accrued expenses and other | 155.7 | 13.8 | 95.2 | — | 264.7 | Intercompany payables | 559 | 609.9 | 546.6 | (1,715.5 | ) | — | ||||||||||||||||||||||||||||||
Intercompany payables | 614.6 | 650.7 | 578.8 | (1,844.1 | ) | — | Long-term debt | 1,107.00 | — | — | — | 1,107.00 | ||||||||||||||||||||||||||||||
Long-term debt | 1,145.80 | — | — | — | 1,145.80 | Long-term debt — affiliates | 107 | — | — | — | 107 | |||||||||||||||||||||||||||||||
Other long-term liabilities | 233.1 | 6.2 | 47.7 | — | 287 | Other long-term liabilities | 244.9 | 5.3 | 50.6 | — | 300.8 | |||||||||||||||||||||||||||||||
Total liabilities | 2,281.50 | 680.8 | 756.2 | (1,844.1 | ) | 1,874.40 | Total liabilities | 2,232.70 | 633.5 | 697 | (1,715.5 | ) | 1,847.70 | |||||||||||||||||||||||||||||
Stockholder’s deficiency | (576.7 | ) | (218.2 | ) | (66.4 | ) | 284.6 | (576.7 | ) | Stockholder’s deficiency | (641.6 | ) | (282.5 | ) | (74.7 | ) | 357.2 | (641.6 | ) | |||||||||||||||||||||||
Total liabilities and stockholder’s deficiency | $ | 1,704.80 | $ | 462.6 | $ | 689.8 | $ | (1,559.5 | ) | $ | 1,297.70 | Total liabilities and stockholder’s deficiency | $ | 1,591.10 | $ | 351 | $ | 622.3 | $ | (1,358.3 | ) | $ | 1,206.10 | |||||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income (Loss) | Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||||||||||||||
For the Three Months ended September 30, 2013 | For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||
Net Sales | $ | 229.4 | $ | 25.3 | $ | 133.2 | $ | (48.5 | ) | $ | 339.4 | Net sales | $ | 929.9 | $ | 113.6 | $ | 576.1 | $ | (193.5 | ) | $ | 1,426.10 | |||||||||||||||||||
Cost of sales | 106.2 | 12.6 | 53.5 | (48.5 | ) | 123.8 | Cost of sales | 418.6 | 53.7 | 227.7 | (193.5 | ) | 506.5 | |||||||||||||||||||||||||||||
Gross profit | 123.2 | 12.7 | 79.7 | — | 215.6 | Gross profit | 511.3 | 59.9 | 348.4 | — | 919.6 | |||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 106.7 | 9.4 | 58.3 | — | 174.4 | Selling, general and administrative expenses | 397.2 | 47.3 | 246.4 | — | 690.9 | |||||||||||||||||||||||||||||||
Restructuring charges and other, net | — | 0.1 | (1.6 | ) | — | (1.5 | ) | Restructuring charges | 1.2 | 0.7 | 18.8 | — | 20.7 | |||||||||||||||||||||||||||||
Operating income | 16.5 | 3.2 | 23 | — | 42.7 | Operating income | 112.9 | 11.9 | 83.2 | — | 208 | |||||||||||||||||||||||||||||||
Other expenses (income), net: | Other expenses, net: | |||||||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.2 | (0.1 | ) | 1.5 | — | 1.6 | Intercompany interest, net | 0.8 | (0.8 | ) | 6.2 | — | 6.2 | |||||||||||||||||||||||||||||
Interest expense | 16 | 0.1 | 0.1 | — | 16.2 | Interest expense | 78.4 | 0.3 | 0.4 | — | 79.1 | |||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 0.8 | — | — | — | 0.8 | Amortization of debt issuance costs | 3.4 | — | — | — | 3.4 | |||||||||||||||||||||||||||||||
Loss on early extinguishment of debt | 0.2 | — | — | — | 0.2 | Foreign currency (gains) losses, net | (0.4 | ) | 0.5 | 2.6 | — | 2.7 | ||||||||||||||||||||||||||||||
Foreign currency (gains) losses, net | (1.5 | ) | 0.5 | 1.4 | — | 0.4 | Miscellaneous, net | (70.1 | ) | 6.8 | 64.3 | — | 1 | |||||||||||||||||||||||||||||
Miscellaneous, net | (10.9 | ) | (5.8 | ) | 17.2 | — | 0.5 | |||||||||||||||||||||||||||||||||||
Other expenses, net | 12.1 | 6.8 | 73.5 | — | 92.4 | |||||||||||||||||||||||||||||||||||||
Other expenses (income), net | 4.8 | (5.3 | ) | 20.2 | — | 19.7 | ||||||||||||||||||||||||||||||||||||
Income from continuing operations before income taxes | 100.8 | 5.1 | 9.7 | — | 115.6 | |||||||||||||||||||||||||||||||||||||
Income from continuing operations before income taxes | 11.7 | 8.5 | 2.8 | — | 23 | Provision for income taxes | 25 | 8.9 | 10.9 | — | 44.8 | |||||||||||||||||||||||||||||||
Provision for income taxes | 10.9 | 0.4 | 1.7 | — | 13 | |||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations, net of taxes | 75.8 | (3.8 | ) | (1.2 | ) | — | 70.8 | |||||||||||||||||||||||||||||||||||
Income from continuing operations | 0.8 | 8.1 | 1.1 | — | 10 | Income from discontinued operations, net of taxes | 0.4 | — | — | — | 0.4 | |||||||||||||||||||||||||||||||
Income from discontinued operations, net of taxes | — | — | — | — | — | Equity in loss of subsidiaries | (5.0 | ) | (11.9 | ) | — | 16.9 | — | |||||||||||||||||||||||||||||
Equity in income of subsidiaries | 9.2 | 2.2 | — | (11.4 | ) | — | ||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 71.2 | $ | (15.7 | ) | $ | (1.2 | ) | $ | 16.9 | $ | 71.2 | ||||||||||||||||||||||||||||||
Net income | $ | 10 | $ | 10.3 | $ | 1.1 | $ | (11.4 | ) | $ | 10 | |||||||||||||||||||||||||||||||
Other comprehensive (loss) income | (7.3 | ) | 10.6 | 12.8 | (23.4 | ) | (7.3 | ) | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 3.1 | (1.4 | ) | (1.2 | ) | 2.6 | 3.1 | |||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) | $ | 63.9 | $ | (5.1 | ) | $ | 11.6 | $ | (6.5 | ) | $ | 63.9 | ||||||||||||||||||||||||||||||
Total comprehensive income (loss) | $ | 13.1 | $ | 8.9 | $ | (0.1 | ) | $ | (8.8 | ) | $ | 13.1 | ||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | ||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Operations and Comprehensive Loss | For the Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||
For the Three Months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Net sales | $ | 883.7 | $ | 95.2 | $ | 574.9 | $ | (172.4 | ) | $ | 1,381.40 | ||||||||||||||||||||||||||||
Net Sales | $ | 221.1 | $ | 34 | $ | 141.3 | $ | (49.4 | ) | $ | 347 | Cost of sales | 399.8 | 45 | 220.2 | (172.4 | ) | 492.6 | ||||||||||||||||||||||||
Cost of sales | 101.8 | 15.6 | 59 | (49.4 | ) | 127 | ||||||||||||||||||||||||||||||||||||
Gross profit | 483.9 | 50.2 | 354.7 | — | 888.8 | |||||||||||||||||||||||||||||||||||||
Gross profit | 119.3 | 18.4 | 82.3 | — | 220 | Selling, general and administrative expenses | 391.9 | 40.6 | 245.6 | — | 678.1 | |||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 100 | 13 | 61.7 | — | 174.7 | |||||||||||||||||||||||||||||||||||||
Restructuring charges and other, net | 1.2 | 0.5 | 19.3 | — | 21 | Operating income | 92 | 9.6 | 109.1 | — | 210.7 | |||||||||||||||||||||||||||||||
Operating income | 18.1 | 4.9 | 1.3 | — | 24.3 | Other expenses, net: | ||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.1 | (1.0 | ) | 7.1 | — | 6.2 | ||||||||||||||||||||||||||||||||||||
Other expenses (income), net: | Interest expense | 84.2 | 0.3 | 0.4 | — | 84.9 | ||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.2 | (0.3 | ) | 1.6 | — | 1.5 | Amortization of debt issuance costs | 3.7 | — | — | — | 3.7 | ||||||||||||||||||||||||||||||
Interest expense | 19.6 | 0.2 | 0.1 | — | 19.9 | Loss on early extinguishment of debt, net | 11.2 | — | — | — | 11.2 | |||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 0.9 | — | — | — | 0.9 | Foreign currency (gains) losses, net | (1.5 | ) | 0.5 | 5.4 | — | 4.4 | ||||||||||||||||||||||||||||||
Foreign currency (gains) losses, net | (1.1 | ) | 0.1 | 0.9 | — | (0.1 | ) | Miscellaneous, net | (47.9 | ) | (1.9 | ) | 51.3 | — | 1.5 | |||||||||||||||||||||||||||
Miscellaneous, net | (27.2 | ) | 13.7 | 13.6 | — | 0.1 | ||||||||||||||||||||||||||||||||||||
Other expenses, net | 49.8 | (2.1 | ) | 64.2 | — | 111.9 | ||||||||||||||||||||||||||||||||||||
Other (income) expenses, net | (7.6 | ) | 13.7 | 16.2 | — | 22.3 | ||||||||||||||||||||||||||||||||||||
Income from continuing operations before income taxes | 42.2 | 11.7 | 44.9 | — | 98.8 | |||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | 25.7 | (8.8 | ) | (14.9 | ) | — | 2 | Provision for income taxes | 26.8 | 3.2 | 5.4 | — | 35.4 | |||||||||||||||||||||||||||||
Provision for income taxes | 6.4 | 2.3 | 3.3 | — | 12 | |||||||||||||||||||||||||||||||||||||
Income from continuing operations, net of taxes | 15.4 | 8.5 | 39.5 | — | 63.4 | |||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | 19.3 | (11.1 | ) | (18.2 | ) | — | (10.0 | ) | Income from discontinued operations, net of taxes | 0.6 | — | — | — | 0.6 | ||||||||||||||||||||||||||||
Equity in loss of subsidiaries | (29.3 | ) | (25.2 | ) | — | 54.5 | — | Equity in income of subsidiaries | 48 | 10.8 | — | (58.8 | ) | — | ||||||||||||||||||||||||||||
Net loss | $ | (10.0 | ) | $ | (36.3 | ) | $ | (18.2 | ) | $ | 54.5 | $ | (10.0 | ) | Net income | $ | 64 | $ | 19.3 | $ | 39.5 | $ | (58.8 | ) | $ | 64 | ||||||||||||||||
Other comprehensive loss | (0.1 | ) | (2.8 | ) | (3.4 | ) | 6.2 | (0.1 | ) | Other comprehensive loss | (50.6 | ) | (6.3 | ) | (14.3 | ) | 20.6 | (50.6 | ) | |||||||||||||||||||||||
Total comprehensive loss | $ | (10.1 | ) | $ | (39.1 | ) | $ | (21.6 | ) | $ | 60.7 | $ | (10.1 | ) | Total comprehensive income | $ | 13.4 | $ | 13 | $ | 25.2 | $ | (38.2 | ) | $ | 13.4 | ||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||||||||||||||
For the Nine Months ended September 30, 2013 | For the Year Ended December 31, 2010 | |||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||
Net Sales | $ | 713.5 | $ | 63.6 | $ | 390.6 | $ | (146.3 | ) | $ | 1,021.40 | Net sales | $ | 854.2 | $ | 69.4 | $ | 546.1 | $ | (148.3 | ) | $ | 1,321.40 | |||||||||||||||||||
Cost of sales | 325.5 | 30.2 | 156.1 | (146.3 | ) | 365.5 | Cost of sales | 367.8 | 32 | 203.8 | (148.3 | ) | 455.3 | |||||||||||||||||||||||||||||
Gross profit | 388 | 33.4 | 234.5 | — | 655.9 | Gross profit | 486.4 | 37.4 | 342.3 | — | 866.1 | |||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 318.1 | 28.3 | 153.6 | — | 500 | Selling, general and administrative expenses | 399.6 | 32.5 | 227.2 | — | 659.3 | |||||||||||||||||||||||||||||||
Restructuring charges and other, net | — | 0.3 | 1.5 | — | 1.8 | Restructuring charges | (0.2 | ) | — | (0.1 | ) | — | (0.3 | ) | ||||||||||||||||||||||||||||
Operating income | 69.9 | 4.8 | 79.4 | — | 154.1 | Operating income | 87 | 4.9 | 115.2 | — | 207.1 | |||||||||||||||||||||||||||||||
Other expenses (income), net: | Other expenses, net: | |||||||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.7 | (0.5 | ) | 4.5 | — | 4.7 | Intercompany interest, net | (0.1 | ) | (1.1 | ) | 7.4 | — | 6.2 | ||||||||||||||||||||||||||||
Interest expense | 50.3 | 0.2 | 0.3 | — | 50.8 | Interest expense | 89.9 | 0.3 | 0.3 | — | 90.5 | |||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 2.2 | — | — | — | 2.2 | Amortization of debt issuance costs | 4.5 | — | — | — | 4.5 | |||||||||||||||||||||||||||||||
Loss on early extinguishment of debt | 28.1 | — | — | — | 28.1 | Loss on early extinguishment of debt, net | 9.7 | — | — | — | 9.7 | |||||||||||||||||||||||||||||||
Foreign currency losses, net | 2.5 | 0.4 | — | — | 2.9 | Foreign currency (gains) losses, net | (4.6 | ) | (0.3 | ) | 11.2 | — | 6.3 | |||||||||||||||||||||||||||||
Miscellaneous, net | (49.4 | ) | 5.2 | 44.7 | — | 0.5 | Miscellaneous, net | (46.9 | ) | 2.9 | 45.2 | — | 1.2 | |||||||||||||||||||||||||||||
Other expenses, net | 34.4 | 5.3 | 49.5 | — | 89.2 | Other expenses, net | 52.5 | 1.8 | 64.1 | — | 118.4 | |||||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | 35.5 | (0.5 | ) | 29.9 | — | 64.9 | Income from continuing operations before income taxes | 34.5 | 3.1 | 51.1 | — | 88.7 | ||||||||||||||||||||||||||||||
Provision for (benefit from) income taxes | 27.3 | (2.0 | ) | 7.1 | — | 32.4 | (Benefit from) provision for income taxes | (255.8 | ) | 4.1 | 16.4 | — | (235.3 | ) | ||||||||||||||||||||||||||||
Income from continuing operations | 8.2 | 1.5 | 22.8 | — | 32.5 | Income (loss) from continuing operations, net of taxes | 290.3 | (1.0 | ) | 34.7 | — | 324 | ||||||||||||||||||||||||||||||
Income from discontinued operations, net of taxes | 0.3 | — | — | — | 0.3 | Income from discontinued operations, net of taxes | 0.3 | — | — | — | 0.3 | |||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 24.3 | 19.7 | — | (44.0 | ) | — | Equity in income of subsidiaries | 33.7 | 18.5 | — | (52.2 | ) | — | |||||||||||||||||||||||||||||
Net income | $ | 32.8 | $ | 21.2 | $ | 22.8 | $ | (44.0 | ) | $ | 32.8 | Net income | $ | 324.3 | $ | 17.5 | $ | 34.7 | $ | (52.2 | ) | $ | 324.3 | |||||||||||||||||||
Other comprehensive income | 2.2 | 9.8 | 4 | (13.8 | ) | 2.2 | Other comprehensive income (loss) | 7.6 | (7.9 | ) | (7.7 | ) | 15.6 | 7.6 | ||||||||||||||||||||||||||||
Total comprehensive income | $ | 35 | $ | 31 | $ | 26.8 | $ | (57.8 | ) | $ | 35 | Total comprehensive income | $ | 331.9 | $ | 9.6 | $ | 27 | $ | (36.6 | ) | $ | 331.9 | |||||||||||||||||||
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) | Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||||||||||||||||||||||
For the Nine Months ended September 30, 2012 | For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||
Net Sales | $ | 680.7 | $ | 83 | $ | 417.5 | $ | (146.4 | ) | $ | 1,034.80 | CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||||||||||||||
Cost of sales | 309.4 | 38.1 | 166 | (146.4 | ) | 367.1 | Net cash provided by operating activities | $ | 21.3 | $ | 64.9 | $ | 17.9 | $ | — | $ | 104.1 | |||||||||||||||||||||||||
Gross profit | 371.3 | 44.9 | 251.5 | — | 667.7 | CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 303.1 | 35 | 186.3 | — | 524.4 | Capital expenditures | (18.1 | ) | (0.4 | ) | (2.4 | ) | — | (20.9 | ) | |||||||||||||||||||||||||||
Restructuring charges and other, net | 1.2 | 0.5 | 19.3 | — | 21 | Business acquisition | — | (66.2 | ) | — | — | (66.2 | ) | |||||||||||||||||||||||||||||
Proceeds from sales of certain assets | 0.1 | 0.4 | 0.3 | — | 0.8 | |||||||||||||||||||||||||||||||||||||
Operating income | 67 | 9.4 | 45.9 | — | 122.3 | |||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | (18.0 | ) | (66.2 | ) | (2.1 | ) | — | (86.3 | ) | |||||||||||||||||||||||||||||||||
Other expenses (income), net: | ||||||||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.7 | (0.7 | ) | 4.6 | — | 4.6 | CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||||||||||||||||
Interest expense | 58.9 | 0.3 | 0.3 | — | 59.5 | Net increase (decrease) in short-term borrowings and overdraft | 7.4 | 1.2 | (2.3 | ) | — | 6.3 | ||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 2.6 | — | — | — | 2.6 | Repayments under the 2011 Term Loan Facility | (8.0 | ) | — | — | — | (8.0 | ) | |||||||||||||||||||||||||||||
Foreign currency (gains) losses, net | (1.0 | ) | 0.3 | 2.7 | — | 2 | Payment of financing costs | (0.4 | ) | — | — | — | (0.4 | ) | ||||||||||||||||||||||||||||
Miscellaneous, net | (60.3 | ) | 7.5 | 53.2 | — | 0.4 | Other financing activities | (0.9 | ) | — | (0.4 | ) | — | (1.3 | ) | |||||||||||||||||||||||||||
Other expenses, net | 0.9 | 7.4 | 60.8 | — | 69.1 | Net cash (used in) provided by financing activities | (1.9 | ) | 1.2 | (2.7 | ) | — | (3.4 | ) | ||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | 66.1 | 2 | (14.9 | ) | — | 53.2 | Effect of exchange rate changes on cash and cash equivalents | — | — | 0.2 | — | 0.2 | ||||||||||||||||||||||||||||||
Provision for income taxes | 21.9 | 5.1 | 6.1 | — | 33.1 | |||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 1.4 | (0.1 | ) | 13.3 | — | 14.6 | ||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | 44.2 | (3.1 | ) | (21.0 | ) | — | 20.1 | Cash and cash equivalents at beginning of period | 57.7 | 0.1 | 43.9 | — | 101.7 | |||||||||||||||||||||||||||||
Income from discontinued operations, net of taxes | 0.4 | — | — | — | 0.4 | |||||||||||||||||||||||||||||||||||||
Equity in loss of subsidiaries | (24.1 | ) | (25.7 | ) | — | 49.8 | — | Cash and cash equivalents at end of period | $ | 59.1 | $ | — | $ | 57.2 | $ | — | $ | 116.3 | ||||||||||||||||||||||||
Net income (loss) | $ | 20.5 | $ | (28.8 | ) | $ | (21.0 | ) | $ | 49.8 | $ | 20.5 | ||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | 7.8 | 2.7 | 1.9 | (4.6 | ) | 7.8 | For the Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) | $ | 28.3 | $ | (26.1 | ) | $ | (19.1 | ) | $ | 45.2 | $ | 28.3 | ||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | Net cash provided by (used in) operating activities | $ | 58.2 | $ | 37.4 | $ | (7.6 | ) | $ | — | $ | 88 | ||||||||||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Capital expenditures | (11.7 | ) | (0.4 | ) | (1.8 | ) | — | (13.9 | ) | ||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Business acquisition | — | (39.0 | ) | — | — | (39.0 | ) | ||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | Proceeds from sales of certain assets | 0.1 | — | 0.2 | — | 0.3 | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 38.4 | $ | 0.7 | $ | (33.3 | ) | $ | — | $ | 5.8 | |||||||||||||||||||||||||||||||
Net cash used in investing activities | (11.6 | ) | (39.4 | ) | (1.6 | ) | — | (52.6 | ) | |||||||||||||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | (15.5 | ) | (0.5 | ) | (1.9 | ) | — | (17.9 | ) | CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Insurance proceeds for property, plant and equipment | — | — | 13.1 | — | 13.1 | Net increase in short-term borrowings and overdraft | (2.5 | ) | 2 | 0.7 | — | 0.2 | ||||||||||||||||||||||||||||||
Proceeds from the sale of certain assets | 0.3 | — | 3.1 | — | 3.4 | Repayments under the 2010 Term Loan Facility | (794.0 | ) | — | — | — | (794.0 | ) | |||||||||||||||||||||||||||||
Borrowings under the 2011 Term Loan Facility | 796 | — | — | — | 796 | |||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by investing activities | (15.2 | ) | (0.5 | ) | 14.3 | — | (1.4 | ) | Repayments under the 2011 Term Loan Facility | (4.0 | ) | — | — | — | (4.0 | ) | ||||||||||||||||||||||||||
Payment of financing costs | (4.3 | ) | — | — | — | (4.3 | ) | |||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | Other financing activities | (0.6 | ) | — | (0.8 | ) | — | (1.4 | ) | |||||||||||||||||||||||||||||||||
Net (decrease) increase in short-term borrowings and overdraft | (1.4 | ) | (0.1 | ) | 1.7 | — | 0.2 | |||||||||||||||||||||||||||||||||||
Proceeds from the issuance of the 5 3/4% Senior Notes | 500 | — | — | — | 500 | Net cash (used in) provided by financing activities | (9.4 | ) | 2 | (0.1 | ) | — | (7.5 | ) | ||||||||||||||||||||||||||||
Repayment of the 9 3/4% Senior Secured Notes | (330.0 | ) | — | — | — | (330.0 | ) | |||||||||||||||||||||||||||||||||||
Repayment under the 2011 Term Loan Facility | (113.0 | ) | — | — | — | (113.0 | ) | Effect of exchange rate changes on cash and cash equivalents | — | — | (2.9 | ) | — | (2.9 | ) | |||||||||||||||||||||||||||
Payment of financing costs | (32.7 | ) | — | — | — | (32.7 | ) | |||||||||||||||||||||||||||||||||||
Other financing activities | (1.5 | ) | — | (0.3 | ) | — | (1.8 | ) | Net increase (decrease) in cash and cash equivalents | 37.2 | — | (12.2 | ) | — | 25 | |||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 20.5 | 0.1 | 56.1 | — | 76.7 | |||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 21.4 | (0.1 | ) | 1.4 | — | 22.7 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 57.7 | $ | 0.1 | $ | 43.9 | $ | — | $ | 101.7 | ||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | (4.1 | ) | — | (4.1 | ) | |||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 44.6 | 0.1 | (21.7 | ) | — | 23 | Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 59.1 | — | 57.2 | — | 116.3 | For the Year Ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 103.7 | $ | 0.1 | $ | 35.5 | $ | — | $ | 139.3 | ||||||||||||||||||||||||||||||||
Products | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Guarantor | ||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 70.8 | $ | (0.9 | ) | $ | 26.8 | $ | — | $ | 96.7 | |||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Capital expenditures | (13.7 | ) | (0.1 | ) | (1.4 | ) | — | (15.2 | ) | ||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | Proceeds from sales of certain assets | — | — | 0.3 | — | 0.3 | ||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (37.9 | ) | $ | 63.7 | $ | (7.9 | ) | $ | — | $ | 17.9 | ||||||||||||||||||||||||||||||
Net cash used in investing activities | (13.7 | ) | (0.1 | ) | (1.1 | ) | — | (14.9 | ) | |||||||||||||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | (13.0 | ) | (0.3 | ) | (1.5 | ) | — | (14.8 | ) | CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Business Acquisition | — | (66.2 | ) | — | (66.2 | ) | Net (decrease) increase in short-term borrowings and overdraft | (12.8 | ) | 0.7 | 1.5 | — | (10.6 | ) | ||||||||||||||||||||||||||||
Proceeds from the sale of certain assets | 0.1 | 0.4 | 0.1 | — | 0.6 | Repayments under the 2006 Term Loan Facility | (815.0 | ) | — | — | — | (815.0 | ) | |||||||||||||||||||||||||||||
Borrowings under the 2010 Term Loan Facility | 786 | — | — | — | 786 | |||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | (12.9 | ) | (66.1 | ) | (1.4 | ) | — | (80.4 | ) | Repayments under the 2010 Term Loan Facility | (6.0 | ) | — | — | — | (6.0 | ) | |||||||||||||||||||||||||
Payment of financing costs | (17.0 | ) | — | — | — | (17.0 | ) | |||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | Other financing activities | 0.8 | — | (0.5 | ) | — | 0.3 | |||||||||||||||||||||||||||||||||||
Net increase in short-term borrowings and overdraft | 10 | 2.3 | 0.2 | — | 12.5 | |||||||||||||||||||||||||||||||||||||
Repayments under the 2011 Term Loan Facility | (6.0 | ) | — | — | — | (6.0 | ) | Net cash (used in) provided by financing activities | (64.0 | ) | 0.7 | 1 | — | (62.3 | ) | |||||||||||||||||||||||||||
Payment of financing costs | (0.1 | ) | — | — | — | (0.1 | ) | |||||||||||||||||||||||||||||||||||
Other financing activities | (0.5 | ) | — | (0.2 | ) | — | (0.7 | ) | Effect of exchange rate changes on cash and cash equivalents | — | — | 2.7 | — | 2.7 | ||||||||||||||||||||||||||||
Net cash provided by financing activities | 3.4 | 2.3 | — | — | 5.7 | Net (decrease) increase in cash and cash equivalents | (6.9 | ) | (0.3 | ) | 29.4 | — | 22.2 | |||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 27.4 | 0.4 | 26.7 | — | 54.5 | |||||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | 0.3 | — | 0.3 | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 20.5 | $ | 0.1 | $ | 56.1 | $ | — | $ | 76.7 | ||||||||||||||||||||||||||||||||
Net decrease in cash and cash equivalents | (47.4 | ) | (0.1 | ) | (9.0 | ) | — | (56.5 | ) | |||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 57.7 | 0.1 | 43.9 | — | 101.7 | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 10.3 | $ | — | $ | 34.9 | $ | — | $ | 45.2 | ||||||||||||||||||||||||||||||||
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Subsequent Events [Abstract] | ' | ' |
SUBSEQUENT EVENTS | ' | ' |
14. SUBSEQUENT EVENTS | 22. SUBSEQUENT EVENTS | |
Colomer Acquisition | Insurance Settlement on Loss of Inventory | |
On October 9, 2013, Products Corporation completed the Colomer Acquisition for a cash purchase price of $664.5 million, which Products Corporation financed with proceeds from the Acquisition Term Loans under the Amended Term Loan Facility. The Colomer Acquisition provides the Company with broad brand, geographic and channel diversification and substantially expands the Company’s business, providing distribution into new channels and cost synergy opportunities. In addition, the Colomer Acquisition offers opportunities for profitable growth by leveraging the combined Company's enhanced innovation capability and know-how. | In January 2013, the Company received additional insurance proceeds of $3.4 million from its insurers in connection with the June 5, 2011 fire at the Company’s facility in Venezuela. These additional proceeds relate to the settlement of the Company’s claim for the loss of inventory. The $3.4 million of proceeds were in addition to $3.7 million received in 2012 and $4.7 million received in 2011, for a total settlement amount of $11.8 million for the loss of inventory, of which $3.5 million was recognized as income from insurance recoveries in the second quarter of 2011. As a result of the final settlement of the claim for the loss of inventory, the Company will recognize a gain from insurance proceeds of $8.3 million in the first quarter of 2013. | |
For the three and nine months ended September 30, 2013, the Company has incurred $5.9 million and $6.3 million, respectively, of acquisition and related costs, which are included within SG&A expenses in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss). The results of operations related to the Colomer Acquisition will be included in the Company’s consolidated financial statements commencing on October 9, 2013, the date of the acquisition. The Company will account for the Colomer Acquisition as a business combination during the fourth quarter of 2013. | The final amount and timing of the remaining insurance recovery is still currently unknown. For further discussion, see Note 1, “Summary of Significant Accounting Policies – Other Events—Fire at Revlon Venezuela Facility.” | |
The Company’s purchase accounting for the Colomer Acquisition is incomplete; therefore the Company cannot disclose the allocation of the acquisition price to acquired assets and liabilities at this time. In addition, Colomer's results of operations prepared in accordance with U.S. GAAP for the period ending September 30, 2013 is currently unavailable and therefore the Company cannot disclose the pro forma revenues and earnings related to the Colomer Acquisition at this time. | 2013 Senior Notes Refinancing | |
Repayment of the Contributed Loan | 5 3/4% Senior Notes | |
Products Corporation is party to the Amended and Restated Senior Subordinated Term Loan Agreement, consisting of (i) the $58.4 million Non-Contributed Loan portion of the $107.0 million aggregate principal amount of the Amended and Restated Senior Subordinated Term Loan, which at September 30, 2013, remained owing from Products Corporation to various third parties, and which matures on October 8, 2014, and (ii) the $48.6 million Contributed Loan portion of the $107.0 million aggregate principal amount of the Amended and Restated Senior Subordinated Term Loan that MacAndrews & Forbes contributed to Revlon, Inc. in connection with the October 2009 consummation of Revlon, Inc.’s exchange offer, which as of September 30, 2013, remained due from Products Corporation to Revlon, Inc. Products Corporation paid to Revlon, Inc. at maturity on October 8, 2013 the $48.6 million aggregate principal amount outstanding under the Contributed Loan. | On February 8, 2013, Products Corporation successfully completed its previously-announced offering, pursuant to an exemption from registration under the Securities Act, of $500 million aggregate principal amount of 5 3/4% Senior Notes due 2021 (the “5 3/4% Senior Notes”). The 5 3/4% Senior Notes are unsecured, were issued to investors at par and mature on February 15, 2021. | |
The 5 3/4% Senior Notes were issued pursuant to an Indenture (the “Indenture”), dated as of February 8, 2013 (the “Closing Date”), by and among Products Corporation, Products Corporation’s domestic subsidiaries (the “Guarantors”), which also currently guarantee Products Corporation’s 2011 Term Loan Facility and 2011 Revolving Credit Facility, and U.S. Bank National Association, as trustee. The Guarantors have issued guarantees (the “Guarantees”) of Products Corporation’s obligations under the 5 3/4% Senior Notes and the Indenture on a senior unsecured basis. The holders of the 5 3/4% Senior Notes and the Guarantees will have certain registration rights pursuant to a Registration Rights Agreement, dated as of the Closing Date, by and among Products Corporation, the Guarantors and the representatives of the several initial purchasers of the 5 3/4% Senior Notes. | ||
Products Corporation used the net proceeds from the offering to: (i) pay the tender offer consideration, including applicable consent payments, in connection with Products Corporation’s previously-announced cash tender offer to purchase any and all of the $330 million outstanding aggregate principal amount of its 9 3/4% Senior Secured Notes due November 2015; (ii) pay the applicable premium and accrued interest, along with related fees and expenses, on the 9 3/4% Senior Secured Notes that are subsequently redeemed by Products Corporation following the tender offer; and (iii) pay applicable fees and expenses incurred in connection with the offering, the tender offer and any redemption. Products Corporation expects to use the remaining balance available for general corporate purposes, including debt reduction transactions such as repaying a portion of its 2011 Term Loan Facility due November 2017 and repaying the Contributed Loan Portion of its Amended and Restated Senior Subordinated Term Loan at maturity in October 2013. |
Schedule_II_Valuation_And_Qual
Schedule II - Valuation And Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Jun. 30, 2013 | |||||||||||||||||
Valuation And Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Schedule II - Valuation And Qualifying Accounts | ' | ||||||||||||||||
Schedule II | |||||||||||||||||
REVLON CONSUMER PRODUCTS CORPORATION AND SUBSIDIARIES | |||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||
Years Ended December 31, 2012, 2011 and 2010 | |||||||||||||||||
(dollars in millions) | |||||||||||||||||
Balance at | Charged to | Other | Balance at | ||||||||||||||
Beginning | Cost and | Deductions | End of | ||||||||||||||
of Year | Expenses | Year | |||||||||||||||
Allowance for Doubtful Accounts(a): | |||||||||||||||||
2012 | $ | 3.2 | $ | 0.6 | $ | (0.3 | ) | $ | 3.5 | ||||||||
2011 | 3.1 | (0.1 | ) | 0.2 | 3.2 | ||||||||||||
2010 | 3.8 | (0.6 | ) | (0.1 | ) | 3.1 | |||||||||||
Allowance for Volume and Early Payment Discounts(b): | |||||||||||||||||
2012 | $ | 15.7 | $ | 58.4 | $ | (59.5 | ) | $ | 14.6 | ||||||||
2011 | 15.2 | 54.4 | (53.9 | ) | 15.7 | ||||||||||||
2010 | 14.4 | 60.9 | (60.1 | ) | 15.2 | ||||||||||||
Allowance for Sales Returns(c): | |||||||||||||||||
2012 | $ | 57.8 | $ | 73.7 | $ | (77.0 | ) | $ | 54.5 | ||||||||
2011 | 59.9 | 77 | (79.1 | ) | 57.8 | ||||||||||||
2010 | 65.5 | 75.4 | (81.0 | ) | 59.9 | ||||||||||||
(a) | Includes doubtful accounts written off, less recoveries, as well as reclassifications and foreign currency translation adjustments. | ||||||||||||||||
(b) | Includes discounts taken, reclassifications and foreign currency translation adjustments. | ||||||||||||||||
(c) | Includes sales returns as a reduction to sales and cost of sales, and an increase to accrued liabilities and inventories. |
DESCRIPTION_OF_BUSINESS_AND_BA
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | ' | ||||||||||||
1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | |||||||||||||
Revlon Consumer Products Corporation (“Products Corporation” and together with its subsidiaries, the “Company”) operates in a single segment and manufactures, markets and sells an extensive array of cosmetics, women’s hair color, beauty tools, anti-perspirant deodorants, fragrances, skincare and other beauty care products. The Company’s vision is glamour, excitement and innovation through high-quality products at affordable prices. The Company’s principal customers include large mass volume retailers and chain drug and food stores in the U.S., as well as certain department stores and other specialty stores, such as perfumeries, outside the U.S. The Company also sells beauty products to U.S. military exchanges and commissaries and has a licensing business pursuant to which the Company licenses certain of its key brand names to third parties for the manufacture and sale of complementary beauty-related products and accessories in exchange for royalties. See also Note 14, “Subsequent Events—Colomer Acquisition. | |||||||||||||
Products Corporation is a direct wholly-owned operating subsidiary of Revlon, Inc., which is a direct and indirect majority-owned subsidiary of MacAndrews & Forbes Holdings Inc. (“MacAndrews & Forbes Holdings” and, together with certain of its affiliates other than Revlon, Inc. and the Company, “MacAndrews & Forbes”), a corporation wholly-owned by Ronald O. Perelman. | |||||||||||||
The accompanying Consolidated Financial Statements are unaudited. In management’s opinion, all adjustments necessary for a fair presentation have been made. The Unaudited Consolidated Financial Statements include the accounts of the Company after the elimination of all material intercompany balances and transactions. | |||||||||||||
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Significant estimates made in the accompanying Unaudited Consolidated Financial Statements include, but are not limited to, allowances for doubtful accounts, inventory valuation reserves, expected sales returns and allowances, trade support costs, certain assumptions related to the recoverability of intangible and long-lived assets, deferred tax valuation allowances, reserves for estimated tax liabilities, restructuring costs, certain estimates and assumptions used in the calculation of the net periodic benefit (income) costs and the projected benefit obligations for the Company’s pension and other post-retirement plans, including the expected long-term return on pension plan assets and the discount rate used to value the Company’s pension benefit obligations. The Unaudited Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 13, 2013 (the “2012 Form 10-K”). | |||||||||||||
The Company’s results of operations and financial position for interim periods are not necessarily indicative of those to be expected for a full year. | |||||||||||||
Effective beginning October 1, 2012, the Company is consolidating and reporting Latin America and Canada (previously reported separately) as the combined Latin America and Canada region. | |||||||||||||
Certain prior year amounts in the Unaudited Consolidated Financial Statements have been reclassified to conform to the current period’s presentation. | |||||||||||||
Recently Adopted Accounting Pronouncements | |||||||||||||
In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which amends Accounting Standards Codification (“ASC”) 220, “Comprehensive Income.” The amendments require an entity to disclose the impact of amounts reclassified out of accumulated other comprehensive income and into net income, by the respective line items of net income, if the amounts reclassified are reclassified to net income in their entirety in the same reporting period. The disclosure is required either on the face of the statement where net income is presented or in the notes. For amounts that are not reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The Company prospectively adopted ASU No. 2013-02 beginning January 1, 2013, and has provided the required disclosures. | |||||||||||||
Recently Issued Accounting Pronouncements | |||||||||||||
In March 2013, the FASB issued ASU No. 2013-04, “Accounting for Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date”, which will require an entity to record an obligation resulting from joint and several liability arrangements at the greater of the amount that the entity has agreed to pay or the amount the entity expects to pay. Additional disclosures about joint and several liability arrangements will also be required. This guidance is effective for fiscal periods beginning after December 15, 2013, and is to be applied retrospectively for obligations that exist at the beginning of an entity’s fiscal year of adoption, with early adoption permitted. The Company does not expect that such adoption will have a material impact on the Company’s consolidated financial statements or financial statement disclosures. | |||||||||||||
In July 2013, the FASB issued ASU No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” which requires an unrecognized tax benefit to be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward that the entity intends to use and is available for settlement at the reporting date. The guidance is effective for fiscal periods beginning after December 15, 2013. The Company expects to early adopt the provisions of ASU No. 2013-11 on a prospective basis as of December 31, 2013 and the Company expects that the impact of such adoption will be limited to the presentation of assets and liabilities on the consolidated balance sheet. | |||||||||||||
Other Events | |||||||||||||
Acquisition of The Colomer Group Participations | |||||||||||||
On October 9, 2013, Products Corporation completed its acquisition of The Colomer Group Participations, S.L. (“Colomer”), a Spanish company which primarily markets and sells professional products to salons and other professional channels under brands such as Revlon Professional® hair care, CND® and CND Shellac® nail polishes and American Crew® men’s hair care (the “Colomer Acquisition”), pursuant to a share sale and purchase agreement (the “Purchase Agreement”) which Products Corporation entered into on August 3, 2013. See Note 14, “Subsequent Events—Colomer Acquisition.” | |||||||||||||
Fire at Revlon Venezuela Facility | |||||||||||||
On June 5, 2011, the Company’s facility in Venezuela was destroyed by fire. For the years ended December 31, 2012, 2011 and 2010, the Company’s subsidiary in Venezuela (“Revlon Venezuela”) had net sales of approximately 2%, 2% and 3%, respectively, of the Company’s consolidated net sales. At December 31, 2012, 2011 and 2010, total assets of Revlon Venezuela were approximately 2%, 2% and 3%, respectively, of the Company’s total assets. Prior to the fire, approximately 50% of Revlon Venezuela’s net sales were comprised of products imported from the Company’s Oxford, North Carolina facility and approximately 50% were comprised of products locally manufactured at the Revlon Venezuela facility. Revlon Venezuela did not have any net sales from the date of the fire until August 12, 2011. The Company’s net sales in Venezuela since August 12, 2011 have been primarily comprised of (i) products imported from the Company’s Oxford, North Carolina facility; and (ii) commencing in the first quarter of 2012, certain products imported from third party manufacturers outside of Venezuela, which were locally manufactured at the Revlon Venezuela facility prior to the fire. | |||||||||||||
The Company maintains comprehensive property insurance, as well as business interruption insurance. Business interruption insurance is intended to reimburse for lost profits and other costs incurred, which are attributable to the loss, during the loss period, subject to the terms and conditions of the applicable policies. The Company’s insurance coverage provides for business interruption losses to be reimbursed, subject to the terms and conditions of such policy, for a period of time, which period for the coverage related to the fire ended on October 2, 2012. | |||||||||||||
The Company’s business interruption losses included estimated profits lost as a result of the interruption of Revlon Venezuela’s business and costs incurred directly related to the fire. The Company recognized income from insurance recoveries under the business interruption policy only to the extent it recorded business interruption losses. | |||||||||||||
In January 2013, the Company received additional insurance proceeds of $3.4 million from its insurers related to the settlement of the Company’s claim for the loss of inventory. The $3.4 million of proceeds were in addition to $8.4 million of insurance proceeds received prior to December 31, 2012, for a total settlement amount of $11.8 million for the loss of inventory, of which $3.5 million was previously recognized as income from insurance recoveries in 2011. As a result of the final settlement of the claim for the loss of inventory, the Company recognized a gain from insurance proceeds of $8.3 million in the first quarter of 2013. | |||||||||||||
In June 2013, the Company settled its business interruption and property insurance claim in the amount of $32.0 million. The Company received $17.9 million of insurance proceeds for its business interruption and property claim prior to December 31, 2012, and the remaining $14.1 million was received in July 2013. The Company previously recognized $13.9 million as income from insurance recoveries in 2011 and 2012. As a result of the final settlement of the business interruption and property claim, the Company recognized a gain from insurance proceeds of $18.1 million in the second quarter of 2013. | |||||||||||||
The table below details the proceeds received and the income recognized to date for the inventory and business interruption and property claims: | |||||||||||||
Inventory | Business | Total | |||||||||||
Interruption | |||||||||||||
and | |||||||||||||
Property | |||||||||||||
Insurance proceeds received in 2011 | $ | 4.7 | $ | 15 | $ | 19.7 | |||||||
Insurance proceeds received in 2012 | 3.7 | 2.9 | 6.6 | ||||||||||
Total proceeds received as of December 31, 2012 | 8.4 | 17.9 | 26.3 | ||||||||||
Income from insurance recoveries recognized in | (3.5 | ) | (13.9 | ) | (17.4 | ) | |||||||
2011 and 2012(a) | |||||||||||||
Deferred income balance as of December 31, 2012 | 4.9 | 4 | 8.9 | ||||||||||
Insurance proceeds received in 2013 | 3.4 | 14.1 | 17.5 | ||||||||||
Gain from insurance proceeds for the nine months ended September 30, 2013(a) | (8.3 | ) | (18.1 | ) | (26.4 | ) | |||||||
Deferred income balance as of September 30, 2013 | $ | — | $ | — | $ | — | |||||||
(a) | The gain from insurance proceeds and income from insurance recoveries is included within selling, general and administrative (“SG&A”) expenses in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) in the respective periods. | ||||||||||||
In the second quarter of 2013, the Company recorded an accrual of $4.5 million for estimated clean-up costs related to the destroyed facility in Venezuela. The accrual is included within accrued expenses and other and SG&A expenses in the Company’s Consolidated Financial Statements for the nine months ended September 30, 2013. | |||||||||||||
Impact of Foreign Currency Translation — Venezuela Currency Devaluation | |||||||||||||
On February 8, 2013, the Venezuelan government announced the devaluation of its local currency, Venezuelan Bolivars (“Bolivars”), relative to the U.S. Dollar, effective beginning February 13, 2013. The devaluation changed the official exchange rate to 6.30 Bolivars per U.S. Dollar (the “Official Rate”). The Venezuelan government also announced that the currency market administered by the central bank known as the Sistema de Transacciones en Moneda Extranjera (“SITME”) would be eliminated. As previously disclosed in the Company’s 2012 Form 10-K, the Company was using the SITME rate to translate the financial statements of Revlon Venezuela beginning in April 2011. | |||||||||||||
As a result of the elimination of the SITME market, the Company began using the Official Rate of 6.30 Bolivars per U.S. Dollar to translate Revlon Venezuela’s financial statements beginning in the first quarter of 2013. For the nine months ended September 30, 2013, the devaluation of the local currency had the impact of reducing reported net sales by $1.5 million and reducing reported operating income by $0.5 million. Additionally, to reflect the impact of the currency devaluation, a one-time foreign currency loss of $0.6 million was recorded in the first quarter of 2013 as a result of the required re-measurement of Revlon Venezuela’s balance sheet. As Venezuela was designated as a highly inflationary economy effective January 1, 2010, the Company reflected this foreign currency loss in earnings. |
PENSION_AND_POSTRETIREMENT_BEN
PENSION AND POST-RETIREMENT BENEFITS | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
PENSION AND POST-RETIREMENT BENEFITS | ' | ||||||||||||||||
2. PENSION AND POST-RETIREMENT BENEFITS | |||||||||||||||||
The components of net periodic benefit (income) costs for the Company’s pension and the other post-retirement benefit plans for the third quarter of 2013 and 2012 are as follows: | |||||||||||||||||
Pension Plans | Other | ||||||||||||||||
Post-retirement | |||||||||||||||||
Benefit Plans | |||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net periodic benefit (income) costs: | |||||||||||||||||
Service cost | $ | 0.3 | $ | 0.4 | $ | — | $ | — | |||||||||
Interest cost | 6.9 | 7.5 | 0.1 | 0.1 | |||||||||||||
Expected return on plan assets | (9.6 | ) | (8.8 | ) | — | — | |||||||||||
Amortization of actuarial loss | 2.1 | 2 | 0.1 | 0.1 | |||||||||||||
(0.3 | ) | 1.1 | 0.2 | 0.2 | |||||||||||||
Portion allocated to Revlon Holdings LLC | — | — | — | — | |||||||||||||
$ | (0.3 | ) | $ | 1.1 | $ | 0.2 | $ | 0.2 | |||||||||
The components of net periodic benefit (income) costs for the Company’s pension and the other post-retirement benefit plans for the first nine months of 2013 and 2012 are as follows: | |||||||||||||||||
Pension Plans | Other | ||||||||||||||||
Post-retirement | |||||||||||||||||
Benefit Plans | |||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net periodic benefit (income) costs: | |||||||||||||||||
Service cost | $ | 0.7 | $ | 1.2 | $ | — | $ | — | |||||||||
Interest cost | 20.7 | 22.5 | 0.4 | 0.5 | |||||||||||||
Expected return on plan assets | (28.7 | ) | (26.4 | ) | — | — | |||||||||||
Amortization of actuarial loss | 6.4 | 6.1 | 0.3 | 0.2 | |||||||||||||
(0.9 | ) | 3.4 | 0.7 | 0.7 | |||||||||||||
Portion allocated to Revlon Holdings LLC | (0.1 | ) | (0.1 | ) | — | — | |||||||||||
$ | (1.0 | ) | $ | 3.3 | $ | 0.7 | $ | 0.7 | |||||||||
In the three and nine months ended September 30, 2013, the Company recognized net periodic benefit income of $(0.1) million and $(0.3) million, respectively, compared to net periodic benefit costs of $1.3 million and $4.0 million in the three and nine months ended September 30, 2012, respectively, primarily due to an increase in the fair value of pension plan assets at December 31, 2012, as well as the impact of the decrease in the weighted-average discount rate. Of the total net periodic benefit income of $(0.1) million for the three months ended September 30, 2013, $(0.6) million is recorded in cost of sales, $0.6 million is recorded in SG&A expenses and $(0.1) million is capitalized in inventory. Of the total net periodic benefit income of $(0.3) million for the nine months ended September 30, 2013, $(1.5) million is recorded in cost of sales, $1.8 million is recorded in SG&A expenses and $(0.6) million is capitalized in inventory. The Company expects that it will have net periodic benefit income of approximately $(0.5) million for its pension and other post-retirement benefit plans for all of 2013, compared with net periodic benefit costs of $3.9 million in 2012. | |||||||||||||||||
During the third quarter of 2013, $8.2 million and $0.2 million were contributed to the Company’s pension and other post-retirement benefit plans, respectively. During the first nine months of 2013, $15.4 million and $0.6 million were contributed to the Company’s pension plans and other post-retirement benefit plans, respectively. The Company currently expects to contribute approximately $20 million in the aggregate to its pension and other post-retirement benefit plans in 2013. | |||||||||||||||||
Relevant aspects of the qualified defined benefit pension plans, nonqualified pension plans and other post-retirement benefit plans sponsored by Products Corporation are disclosed in the Company’s 2012 Form 10-K. |
LONGTERM_DEBT1
LONG-TERM DEBT | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
LONG-TERM DEBT | ' | ||||||||
6. LONG-TERM DEBT | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Amended Term Loan Facility: 2011 Term Loan due 2017, net of discounts (a) | $ | 669.8 | $ | 780.9 | |||||
Amended Revolving Credit Facility (c) | — | — | |||||||
5 3/4% Senior Notes due 2021 (b) | 500 | — | |||||||
9 3/4% Senior Secured Notes due 2015, net of discounts (b) | — | 328 | |||||||
Contributed Loan portion of the Amended and Restated Senior Subordinated Term Loan due 2013 (d) | 48.6 | 48.6 | |||||||
Non-Contributed Loan Portion of the Amended and Restated Senior Subordinated Term Loan due 2014 (d) | 58.4 | 58.4 | |||||||
1,276.80 | 1,215.90 | ||||||||
Less current portion (a) | — | (21.5 | ) | ||||||
Less current portion of long-term debt - affiliates (d) | (48.6 | ) | (48.6 | ) | |||||
1,228.20 | 1,145.80 | ||||||||
(a) | In February 2013, Products Corporation consummated an amendment (the “February 2013 Term Loan Amendments”) to its third amended and restated term loan agreement dated as of May 19, 2011 (as amended, the “2011 Term Loan Agreement” or the “2011 Term Loan Facility”) for its 6.5-year term loan due November 19, 2017 (the “2011 Term Loan”). Refer to “Recent Debt Transactions – Term Loan Amendments - (i) February 2013 Term Loan Amendments” below for further discussion. | ||||||||
Additionally, in connection with the Colomer Acquisition, in August 2013, Products Corporation consummated further amendments (the “August 2013 Term Loan Amendments”) to its 2011 Term Loan Agreement (as amended by the August 2013 Term Loan Amendments and the Incremental Amendment (as hereinafter defined), the “Amended Term Loan Agreement” or the “Amended Term Loan Facility”). Refer to “Recent Debt Transactions – Term Loan Amendments—(ii) August 2013 Term Loan Amendments and (iii) Incremental Amendment” below for further discussion. | |||||||||
(b) | On February 8, 2013, Products Corporation issued $500.0 million aggregate principal amount of 5 3/4% Senior Notes due February 15, 2021 (the “5 3/4% Senior Notes”) to investors at par. Products Corporation used $491.2 million of net proceeds (net of underwriters’ fees) from the issuance of the 5 3/4% Senior Notes to repay or redeem all of the $330 million outstanding aggregate principal amount of its 9 3/4% Senior Secured Notes due November 2015 (the “9 3/4% Senior Secured Notes”), as well as to pay an aggregate of $27.9 million for the applicable redemption and tender offer premiums, accrued interest and related fees and expenses. Products Corporation used a portion of the remaining proceeds, together with existing cash, to pay approximately $113.0 million of principal on its 2011 Term Loan in conjunction with the February 2013 Term Loan Amendments. Products Corporation used the remaining balance available from the issuance of the 5 3/4% Senior Notes for general corporate purposes, including, without limitation, debt reduction transactions, such as repaying to Revlon, Inc. at maturity on October 8, 2013 the Contributed Loan (as defined below). Refer to “Recent Debt Transactions – 2013 Senior Notes Refinancing” below for further discussion. | ||||||||
(c) | In connection with the Colomer Acquisition, in August 2013, Products Corporation consummated an amendment (the “August 2013 Revolver Amendment”) to its third amended and restated revolving credit agreement dated June 16, 2011 (as amended, the “Amended Revolving Credit Agreement”). Refer to “Recent Debt Transactions – Amended Revolving Credit Facility” below for further discussion. | ||||||||
(d) | For detail regarding Products Corporation’s Amended and Restated Senior Subordinated Term Loan (the “Amended and Restated Senior Subordinated Term Loan”), consisting of (i) the $58.4 million principal amount which remains owing from Products Corporation to various third parties (the “Non-Contributed Loan”), which matures on October 8, 2014, and (ii) the $48.6 million principal amount which, at September 30, 2013 was due from Products Corporation to Revlon, Inc. (the “Contributed Loan”), and which Products Corporation repaid to Revlon, Inc. at maturity on October 8, 2013, see Note 10, “Long-Term Debt,” to the Consolidated Financial Statements in the Company’s 2012 Form 10-K. | ||||||||
Recent Debt Transactions | |||||||||
Term Loan and Revolving Credit Facility Amendments | |||||||||
(i) February 2013 Term Loan Amendments | |||||||||
On February 21, 2013, Products Corporation consummated the February 2013 Term Loan Amendments, among Products Corporation, as borrower, a syndicate of lenders and Citicorp, USA, Inc. (“CUSA”), as administrative agent and collateral agent. | |||||||||
Pursuant to the February 2013 Term Loan Amendments, Products Corporation reduced the total aggregate principal amount outstanding under the 2011 Term Loan from $788.0 million to $675.0 million, using a portion of the proceeds from Products Corporation’s issuance of its 5 3/4% Senior Notes (see “2013 Senior Notes Refinancing” below), together with cash on hand. The February 2013 Term Loan Amendments also reduced the interest rates on the 2011 Term Loan such that Eurodollar Loans bear interest at the Eurodollar Rate plus 3.00% per annum, with the Eurodollar Rate not to be less than 1.00% (compared to 3.50% and 1.25%, respectively, prior to the February 2013 Term Loan Amendments), while Alternate Base Rate loans bear interest at the Alternate Base Rate plus 2.00%, with the Alternate Base Rate not to be less than 2.00% (compared to 2.50% and 2.25%, respectively, prior to the February 2013 Term Loan Amendments) (and as each such term is defined in the 2011 Term Loan Agreement). | |||||||||
Pursuant to the February 2013 Term Loan Amendments, Products Corporation, under certain circumstances, also has the right to request the 2011 Term Loan be increased by up to the greater of (i) $300 million and (ii) an amount such that Products Corporation’s First Lien Secured Leverage Ratio (as defined in the 2011 Term Loan Agreement) does not exceed 3.50:1.00 (compared to $300 million prior to the February 2013 Term Loan Amendments), provided that the lenders are not committed to provide any such increase. | |||||||||
For the nine months ended September 30, 2013, the Company incurred approximately $1.2 million of fees and expenses in connection with the February 2013 Term Loan Amendments, of which, $0.2 million was capitalized. The Company expensed the remaining $1.0 million of fees and expenses and wrote-off $1.5 million of unamortized debt discount and deferred financing costs. These amounts, totaling $2.5 million, were recognized within loss on early extinguishment of debt in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the nine months ended September 30, 2013. | |||||||||
(ii) August 2013 Term Loan Amendments | |||||||||
On August 19, 2013, in connection with the Colomer Acquisition, Products Corporation consummated the August 2013 Term Loan Amendments to its 2011 Term Loan Agreement, which permit, among other things: (i) Products Corporation’s consummation of the Colomer Acquisition; and (ii) Products Corporation’s incurring up to $700 million of term loans to use as a source of funds to consummate the Colomer Acquisition and pay related fees and expenses. See Note 14, “Subsequent Events—Colomer Acquisition.” | |||||||||
For the three and nine months ended September 30, 2013, the Company incurred approximately $1.9 million of fees and expenses in connection with the August 2013 Term Loan Amendments. The Company capitalized $1.7 million of fees and expenses, which are being amortized over the remaining life of the 2011 Term Loan using the effective interest method. The remaining $0.2 million of fees and expenses were expensed as incurred. | |||||||||
(iii) Incremental Amendment | |||||||||
On August 19, 2013, in connection with the Colomer Acquisition, Products Corporation entered into an incremental amendment (the “Incremental Amendment”) resulting in the Amended Term Loan Agreement with Citibank, N.A., JPMorgan Chase Bank, N.A., Bank of America, N.A, Credit Suisse AG, Cayman Islands Branch, Wells Fargo Bank, N.A. and Deutsche Bank AG New York Branch (collectively, the “Initial Acquisition Lenders”) and Citicorp USA, Inc. as administrative agent and collateral agent pursuant to which the Initial Acquisition Lenders committed to provide up to $700 million of term loans under the Amended Term Loan Agreement (the “Acquisition Term Loans”), which were used as a source of funds to consummate the Colomer Acquisition. See Note 14, “Subsequent Events—Colomer Acquisition.” | |||||||||
For the three and nine months ended, September 30, 2013, the Company incurred approximately $1.7 million of fees and expenses in connection with the Acquisition Term Loans. Such fees were capitalized and will be amortized over the life of the Acquisition Term Loans using the effective interest method beginning on the Closing Date. | |||||||||
(iv) Amended Revolving Credit Facility | |||||||||
On August 14, 2013, in connection with the Colomer Acquisition, Products Corporation consummated the August 2013 Revolver Amendment to the $140.0 million asset-backed, multi-currency revolving credit facility (the “Amended Revolving Credit Facility”) to permit, among other things: (a) Products Corporation’s consummation of the Colomer Acquisition; and (b) Products Corporation’s incurring up to $700 million of the Acquisition Term Loans that Products Corporation used as a source of funds to consummate the Colomer Acquisition. Additionally, the August 2013 Revolver Amendment (1) reduced Products Corporation’s interest rate spread over the LIBOR rate applicable to Eurodollar Loans under the facility from a range, based on availability, of 2.00% to 2.50%, to a range of 1.50% to 2.00%; (2) reduced the commitment fee on unused availability under the facility from 0.375% to 0.25%; and (3) extended the maturity of the facility, which was previously scheduled to mature in June 2016, to the earlier of (i) August 2018 or (ii) the date that is 90 days prior to the earliest maturity date of any term loans then outstanding under Products Corporation’s bank term loan agreements, but not earlier than June 2016. | |||||||||
For the three and nine months ended September 30, 2013, the Company incurred approximately $0.4 million of fees and expenses in connection with the August 2013 Revolver Amendment, which were capitalized and are being amortized over the life of the Amended Revolving Credit Facility using the effective interest method. | |||||||||
The following is a summary description of the Amended Revolving Credit Facility and the Amended Term Loan Facility. Unless otherwise indicated, capitalized terms have the meanings given to them in the Amended Revolving Credit Agreement and/or the Amended Term Loan Agreement, as applicable. Investors should refer to the Amended Revolving Credit Agreement and/or the Amended Term Loan Agreement for complete terms and conditions, as these summary descriptions are subject to a number of qualifications and exceptions. | |||||||||
Amended Revolving Credit Facility | |||||||||
Availability under the Amended Revolving Credit Facility varies based on a borrowing base that is determined by the value of eligible accounts receivable and eligible inventory in the U.S. and the U.K. and eligible real property and equipment in the U.S. from time to time. | |||||||||
In each case subject to borrowing base availability, the Amended Revolving Credit Facility is available to: | |||||||||
(i) Products Corporation in revolving credit loans denominated in U.S. Dollars; | |||||||||
(ii) Products Corporation in swing line loans denominated in U.S. Dollars up to $30.0 million; | |||||||||
(iii) Products Corporation in standby and commercial letters of credit denominated in U.S. Dollars and other currencies up to $60.0 million; and | |||||||||
(iv) Products Corporation and certain of its international subsidiaries designated from time to time in revolving credit loans and bankers’ acceptances denominated in U.S. Dollars and other currencies. | |||||||||
If the value of the eligible assets is not sufficient to support the $140.0 million borrowing base under the Amended Revolving Credit Facility, Products Corporation will not have full access to the Amended Revolving Credit Facility. Products Corporation’s ability to borrow under the Amended Revolving Credit Facility is also conditioned upon the satisfaction of certain conditions precedent and Products Corporation’s compliance with other covenants in the Amended Revolving Credit Agreement. | |||||||||
As a result of the August 2013 Revolver Amendment, under the Amended Revolving Credit Facility, borrowings (other than loans in foreign currencies) bear interest, if made as Eurodollar Loans, at the Eurodollar Rate plus the applicable margin set forth in the grid below and, if made as Alternate Base Rate Loans, at the Alternate Base Rate plus the applicable margin set forth in the grid below. | |||||||||
Excess Availability | Alternate Base Rate | Eurodollar Loans, | |||||||
Loans | Eurocurrency Loan or | ||||||||
Local Rate Loans | |||||||||
Greater than or equal to $92,000,000 | 0.5 | % | 1.5 | % | |||||
Less than $92,000,000 but greater than or equal to $46,000,000 | 0.75 | % | 1.75 | % | |||||
Less than $46,000,000 | 1 | % | 2 | % | |||||
Local Loans bear interest, if mutually acceptable to Products Corporation and the relevant foreign lenders, at the Local Rate, and otherwise (i) if in foreign currencies or in U.S. Dollars at the Eurodollar Rate or the Eurocurrency Rate plus the applicable margin set forth in the grid above or (ii) if in U.S. Dollars at the Alternate Base Rate plus the applicable margin set forth in the grid above. | |||||||||
Prior to the termination date of the Amended Revolving Credit Facility, revolving loans are required to be prepaid (without any permanent reduction in commitment) with: | |||||||||
(i) the net cash proceeds from sales of Revolving Credit First Lien Collateral by Products Corporation or any of Products Corporation’s subsidiary guarantors (other than dispositions in the ordinary course of business and certain other exceptions); and | |||||||||
(ii) the net proceeds from the issuance by Products Corporation or any of its subsidiaries of certain additional debt, to the extent there remains any such proceeds after satisfying Products Corporation’s repayment obligations under the Amended Term Loan Facility. | |||||||||
As a result of the August 2013 Revolver Amendment, Products Corporation pays to the lenders under the Amended Revolving Credit Facility a commitment fee of 0.25% of the average daily unused portion of the Amended Revolving Credit Facility, which fee is payable quarterly in arrears. Under the Amended Revolving Credit Facility, Products Corporation also pays: | |||||||||
(i) to foreign lenders a fronting fee of 0.25% per annum on the aggregate principal amount of specified Local Loans (which fee is retained by foreign lenders out of the portion of the Applicable Margin payable to such foreign lender); | |||||||||
(ii) to foreign lenders an administrative fee of 0.25% per annum on the aggregate principal amount of specified Local Loans; | |||||||||
(iii) to the multi-currency lenders a letter of credit commission equal to the product of (a) the Applicable Margin for revolving credit loans that are Eurodollar Rate loans (adjusted for the term that the letter of credit is outstanding) and (b) the aggregate undrawn face amount of letters of credit; and | |||||||||
(iv) to the issuing lender, a letter of credit fronting fee of 0.25% per annum of the aggregate undrawn face amount of letters of credit, which fee is a portion of the Applicable Margin. | |||||||||
As a result of the August 2013 Revolver Amendment, under certain circumstances, Products Corporation has the right to request that the Amended Revolving Credit Facility be increased by up to $100.0 million (compared to $60.0 million under the 2011 Revolving Credit Facility), provided that the lenders are not committed to provide any such increase. | |||||||||
Under certain circumstances, if and when the difference between (i) the borrowing base under the Amended Revolving Credit Facility and (ii) the amounts outstanding under the Amended Revolving Credit Facility is less than $20.0 million for a period of two consecutive days or more, and until such difference is equal to or greater than $20.0 million for a period of 30 consecutive business days, the Amended Revolving Credit Facility requires Products Corporation to maintain a consolidated fixed charge coverage ratio (the ratio of EBITDA minus Capital Expenditures to Cash Interest Expense for such period) of a minimum of 1.0 to 1.0. | |||||||||
As a result of the August 2013 Revolver Amendment, the Amended Revolving Credit Facility matures on the earlier of August 14, 2018 and the date that is 90 days prior to the earliest maturity date of any Term loans then outstanding under the Amended Term Loan Facility, but not earlier than June 16, 2016. | |||||||||
Amended Term Loan Facility | |||||||||
Under the Amended Term Loan Facility, Eurodollar Loans bear interest at the Eurodollar Rate plus 3.00% per annum (with the Eurodollar Rate not to be less than 1.00%) and Alternate Base Rate loans bear interest at the Alternate Base Rate plus 2.00% (with the Alternate Base Rate not to be less than 2.00%). | |||||||||
The term loans under the Amended Term Loan Facility are required to be prepaid with: | |||||||||
(i) the net cash proceeds in excess of $10 million for each 12-month period ending on March 31 received during such period from sales of Term Loan First Lien Collateral by Products Corporation or any of its subsidiary guarantors with carryover of unused annual basket amounts up to a maximum of $25 million and with respect to certain specified dispositions up to an additional $25 million in the aggregate (subject to a reinvestment right for 365 days, or 545 days if the Company has within such 365-day period entered into a legally binding commitment to invest such funds); | |||||||||
(ii) the net proceeds from the issuance by Products Corporation or any of its subsidiaries of certain additional debt; and | |||||||||
(iii) 50% of Products Corporation’s “excess cash flow” (as defined under the Amended Term Loan Agreement), commencing with excess cash flow for the 2013 fiscal year payable in the first 100 days of 2014. | |||||||||
The Amended Term Loan Facility contains a financial covenant limiting Products Corporation’s first lien senior secured leverage ratio (the ratio of Products Corporation’s senior secured debt that has a lien on the collateral which secures the Amended Term Loan Facility that is not junior or subordinated to the liens securing the Amended Term Loan Facility (excluding debt outstanding under the Amended Revolving Credit Facility)) to EBITDA, as each such term is defined in the Amended Term Loan Facility, to no more than 4.25 to 1.0 (pursuant to the August 2013 Term Loan Amendments) for each period of four consecutive fiscal quarters ending during the period from June 30, 2011 to the maturity date of the Amended Term Loan Facility. | |||||||||
The 2011 Term Loan under the Amended Term Loan Facility matures on November 19, 2017. The Acquisition Term Loans under the Amended Term Loan Facility will have the same terms as the 2011 Term Loans, except that: (i) they will mature on the sixth anniversary of the closing of the Acquisition Term Loans (or October 8, 2019); (ii) they will be subject to a 1% premium in connection with any repayment or amendment that results in a repricing of the Acquisition Term Loans occurring within six months after the consummation of the Colomer Acquisition; and (iii) they will amortize on March 31, June 30, September 30 and December 31 of each year, beginning with the last day of the first full fiscal quarter after the consummation of the Colomer Acquisition, in an amount equal to 0.25% of the aggregate principal amount of such Acquisition Term Loans. | |||||||||
Provisions Applicable to the Amended Term Loan Facility and the Amended Revolving Credit Facility | |||||||||
The Amended Term Loan Agreement and the Amended Revolving Credit Agreement are supported by, among other things, guarantees from Revlon, Inc. and, subject to certain limited exceptions, Products Corporation’s domestic subsidiaries. Products Corporation’s obligations under the Amended Term Loan Agreement and the Amended Revolving Credit Agreement and the obligations under such guarantees are secured by, subject to certain limited exceptions, substantially all of Products Corporation’s assets and the assets of the guarantors, including: | |||||||||
(i) a mortgage on owned real property, including Products Corporation’s facility in Oxford, North Carolina; | |||||||||
(ii) Products Corporation’s capital stock and the capital stock of the subsidiary guarantors and 66% of the voting capital stock and 100% of the non-voting capital stock of Products Corporation’s and the subsidiary guarantors’ first-tier, non-U.S. subsidiaries; | |||||||||
(iii) Products Corporation’s and the subsidiary guarantors’ intellectual property and other intangible property; and | |||||||||
(iv) Products Corporation’s and the subsidiary guarantors’ inventory, accounts receivable, equipment, investment property and deposit accounts. | |||||||||
The liens on, among other things, inventory, accounts receivable, deposit accounts, investment property (other than Products Corporation’s capital stock and the capital stock of Products Corporation’s subsidiaries), real property, equipment, fixtures and certain intangible property secure the Amended Revolving Credit Facility on a first priority basis and the Amended Term Loan Facility on a second priority basis. The liens on Products Corporation’s capital stock and the capital stock of Products Corporation’s subsidiaries and intellectual property and certain other intangible property secure the Amended Term Loan Facility on a first priority basis and the Amended Revolving Credit Facility on a second priority basis. Such arrangements are set forth in the Third Amended and Restated Intercreditor and Collateral Agency Agreement, dated as of March 11, 2010, by and among Products Corporation and Citicorp USA, Inc., as administrative agent and as collateral agent for the benefit of the secured parties for the Amended Term Loan Facility and Amended Revolving Credit Facility (the “2010 Intercreditor Agreement”). The 2010 Intercreditor Agreement also provides that the liens referred to above may be shared from time to time, subject to certain limitations, with specified types of other obligations incurred or guaranteed by Products Corporation, such as foreign exchange and interest rate hedging obligations and foreign working capital lines. | |||||||||
The Amended Term Loan Agreement and the Amended Revolving Credit Agreement contain various restrictive covenants prohibiting Products Corporation and its subsidiaries from: | |||||||||
(i) incurring additional indebtedness or guarantees, with certain exceptions; | |||||||||
(ii) making dividend and other payments or loans to Revlon, Inc. or other affiliates, with certain exceptions, including among others: | |||||||||
(a) exceptions permitting Products Corporation to pay dividends or make other payments to Revlon, Inc. to enable it to, among other things, pay expenses incidental to being a public holding company, including, among other things, professional fees such as legal, accounting and insurance fees, regulatory fees, such as SEC filing fees and NYSE listing fees, and other expenses related to being a public holding company; | |||||||||
(b) subject to certain circumstances, to finance the purchase by Revlon, Inc. of its Class A Common Stock in connection with the delivery of such Class A Common Stock to grantees under the Third Amended and Restated Revlon Stock Plan and/or the payment of withholding taxes in connection with the vesting of restricted stock awards under such plan; | |||||||||
(c) subject to certain limitations, to pay dividends or make other payments to finance the purchase, redemption or other retirement for value by Revlon, Inc. of stock or other equity interests or equivalents in Revlon, Inc. held by any current or former director, employee or consultant in his or her capacity as such; and | |||||||||
(d) subject to certain limitations, to make other restricted payments to Products Corporation’s affiliates in an amount up to $10 million per year (plus $10 million for each calendar year commencing with 2011), other restricted payments in an aggregate amount not to exceed $35 million and certain other restricted payments, including without limitation those based upon certain financial tests; | |||||||||
(iii) creating liens or other encumbrances on Products Corporation’s or its subsidiaries’ assets or revenues, granting negative pledges or selling or transferring any of Products Corporation’s or its subsidiaries’ assets, all subject to certain limited exceptions; | |||||||||
(iv) with certain exceptions, engaging in merger or acquisition transactions; | |||||||||
(v) prepaying indebtedness and modifying the terms of certain indebtedness and specified material contractual obligations, subject to certain exceptions; | |||||||||
(vi) making investments, subject to certain exceptions; and | |||||||||
(vii) entering into transactions with Products Corporation’s affiliates involving aggregate payments or consideration in excess of $10 million other than upon terms that are not materially less favorable when taken as a whole to Products Corporation or its subsidiaries as terms that would be obtainable at the time for a comparable transaction or series of similar transactions in arm’s length dealings with an unrelated third person and where such payments or consideration exceed $20 million, unless such transaction has been approved by all of Products Corporation’s independent directors, subject to certain exceptions. | |||||||||
The events of default under each of the Amended Term Loan Agreement and the Amended Revolving Credit Agreement include customary events of default for such types of agreements, including, among others: | |||||||||
(i) nonpayment of any principal, interest or other fees when due, subject in the case of interest and fees to a grace period; | |||||||||
(ii) non-compliance with the covenants in the Amended Term Loan Agreement, the Amended Revolving Credit Agreement or the ancillary security documents, subject in certain instances to grace periods; | |||||||||
(iii) the institution of any bankruptcy, insolvency or similar proceedings by or against Products Corporation, any of its subsidiaries or Revlon, Inc., subject in certain instances to grace periods; | |||||||||
(iv) default by Revlon, Inc. or any of its subsidiaries (A) in the payment of certain indebtedness when due (whether at maturity or by acceleration) in excess of $50.0 million in aggregate principal amount or (B) in the observance or performance of any other agreement or condition relating to such debt, provided that the amount of debt involved is in excess of $50.0 million in aggregate principal amount, or the occurrence of any other event, the effect of which default referred to in this subclause (iv) is to cause or permit the holders of such debt to cause the acceleration of payment of such debt; | |||||||||
(v) in the case of the Amended Term Loan Facility, a cross default under the Amended Revolving Credit Facility, and in the case of the Amended Revolving Credit Facility, a cross default under the Amended Term Loan Facility; | |||||||||
(vi) the failure by Products Corporation, certain of Products Corporation’s subsidiaries or Revlon, Inc. to pay certain material judgments; | |||||||||
(vii) a change of control such that (A) Revlon, Inc. shall cease to be the beneficial and record owner of 100% of Products Corporation’s capital stock, (B) Ronald O. Perelman (or his estate, heirs, executors, administrator or other personal representative) and his or their controlled affiliates shall cease to “control” Products Corporation, and any other person or group of persons owns, directly or indirectly, more than 35% of Products Corporation’s total voting power, (C) any person or group of persons other than Ronald O. Perelman (or his estate, heirs, executors, administrator or other personal representative) and his or their controlled affiliates shall “control” Products Corporation or (D) during any period of two consecutive years, the directors serving on Products Corporation’s Board of Directors at the beginning of such period (or other directors nominated by at least a majority of such continuing directors) shall cease to be a majority of the directors; | |||||||||
(viii) Revlon, Inc. shall have any meaningful assets or indebtedness or shall conduct any meaningful business other than its ownership of Products Corporation and such activities as are customary for a publicly traded holding company which is not itself an operating company, in each case subject to limited exceptions; and | |||||||||
(ix) the failure of certain affiliates which hold Products Corporation’s or its subsidiaries’ indebtedness to be party to a valid and enforceable agreement prohibiting such affiliate from demanding or retaining payments in respect of such indebtedness, subject to certain exceptions, including as to Products Corporation’s Amended and Restated Senior Subordinated Term Loan. | |||||||||
If Products Corporation is in default under the senior secured leverage ratio under the Amended Term Loan Facility or the consolidated fixed charge coverage ratio under the Amended Revolving Credit Agreement, Products Corporation may cure such default by issuing certain equity securities to, or receiving capital contributions from, Revlon, Inc. and applying such cash which is deemed to increase EBITDA for the purpose of calculating the applicable ratio. Products Corporation may exercise this cure right two times in any four-quarter period. | |||||||||
2013 Senior Notes Refinancing | |||||||||
On February 8, 2013, Products Corporation completed its offering (the “2013 Senior Notes Refinancing”), pursuant to an exemption from registration under the Securities Act of 1933 (as amended, the “Securities Act”), of $500.0 million aggregate principal amount of the 5 3/4% Senior Notes. The 5 3/4% Senior Notes are unsecured and were issued to investors at par. The 5 3/4% Senior Notes mature on February 15, 2021. Interest on the 5 3/4% Senior Notes accrues at 5 3/4% per annum, paid every six months on February 15th and August 15th, with the first interest payment due on August 15, 2013 (subject to the payment of certain additional interest referred to below under “Registration Rights”). | |||||||||
The 5 3/4% Senior Notes were issued pursuant to an indenture (the “5 3/4% Senior Notes Indenture”), dated as of February 8, 2013 (the “Closing Date”), by and among Products Corporation, Products Corporation’s domestic subsidiaries (the “Guarantors”), which also currently guarantee Products Corporation’s Amended Term Loan Facility and Amended Revolving Credit Facility, and U.S. Bank National Association, as trustee. The Guarantors issued guarantees (the “Guarantees”) of Products Corporation’s obligations under the 5 3/4% Senior Notes and the 5 3/4% Senior Notes Indenture on a joint and several, senior unsecured basis. | |||||||||
Products Corporation used a portion of the $491.2 million of net proceeds from the issuance of the 5 3/4% Senior Notes (net of underwriters’ fees) to repay and redeem all of the $330 million outstanding aggregate principal amount of its 9 3/4% Senior Secured Notes, as well as to pay $8.6 million of accrued interest. Products Corporation incurred an aggregate of $19.3 million of fees for the applicable redemption and tender offer premiums, related fees and expenses in connection with redemption and repayment of the 9 3/4% Senior Secured Notes and other fees and expenses in connection with the issuance of the 5 3/4% Senior Notes. Products Corporation used a portion of the remaining proceeds from the issuance of the 5 3/4% Senior Notes, together with existing cash, to pay approximately $113.0 million of principal on its 2011 Term Loan in conjunction with the February 2013 Term Loan Amendments. Products Corporation used the remaining balance available from the issuance of the 5 3/4% Senior Notes for general corporate purposes, including, without limitation, debt reduction transactions, such as repaying to Revlon, Inc. at maturity on October 8, 2013 the Contributed Loan. | |||||||||
In connection with these refinancing transactions, the Company capitalized $10.5 million of fees and expenses incurred related to the issuance of the 5 3/4% Senior Notes, which is being amortized over the term of such notes using the effective interest method. The Company also recognized a loss on the early extinguishment of debt of $25.4 million during the first nine months of 2013, comprised of $17.6 million of redemption and tender offer premiums, as well as fees and expenses which were expensed as incurred in connection with the redemption and repayment of the 9 3/4% Senior Secured Notes, as well as the write-off of $7.8 million of unamortized debt discount and deferred financing costs associated with the 9 3/4% Senior Secured Notes. | |||||||||
Ranking | |||||||||
The 5 3/4% Senior Notes are Products Corporation’s unsubordinated, unsecured obligations and rank senior in right of payment to any future subordinated obligations of Products Corporation and rank pari passu in right of payment with all existing and future senior debt of Products Corporation. Similarly, each Guarantee is the relevant Guarantor’s joint and several, unsubordinated and unsecured obligation and ranks senior in right of payment to any future subordinated obligations of such Guarantor and ranks pari passu in right of payment with all existing and future senior debt of such Guarantor. | |||||||||
The 5 3/4% Senior Notes and the Guarantees rank effectively junior to Products Corporation’s Amended Term Loan Facility and Amended Revolving Credit Facility, which are secured, as well as indebtedness and preferred stock of Products Corporation’s foreign and immaterial subsidiaries (the “Non-Guarantor Subsidiaries”), none of which guarantee the 5 3/4% Senior Notes. | |||||||||
Optional Redemption | |||||||||
On and after February 15, 2016, the 5 3/4% Senior Notes may be redeemed at Products Corporation’s option, at any time as a whole, or from time to time in part, at the following redemption prices (expressed as percentages of principal amount), plus accrued interest to the date of redemption, if redeemed during the 12-month period beginning on February 15th of the years indicated below: | |||||||||
Year | Percentage | ||||||||
2016 | 104.313 | % | |||||||
2017 | 102.875 | % | |||||||
2018 | 101.438 | % | |||||||
2019 and thereafter | 100 | % | |||||||
Products Corporation may redeem the 5 3/4% Senior Notes at its option at any time or from time to time prior to February 15, 2016, as a whole or in part, at a redemption price per 5 3/4% Senior Note equal to the sum of (1) the then outstanding principal amount thereof, plus (2) accrued and unpaid interest (if any) to the date of redemption, plus (3) the applicable premium based on the applicable treasury rate plus 75 basis points. | |||||||||
Prior to February 15, 2016, Products Corporation may, from time to time, redeem up to 35% of the aggregate principal amount of the 5 3/4% Senior Notes and any additional notes with, and to the extent Products Corporation actually receives, the net proceeds of one or more equity offerings from time to time, at 105.75% of the principal amount thereof, plus accrued interest to the date of redemption. | |||||||||
Change of Control | |||||||||
Upon the occurrence of specified change of control events, Products Corporation is required to make an offer to purchase all of the 5 3/4% Senior Notes at a purchase price of 101% of the outstanding principal amount of the 5 3/4% Senior Notes as of the date of any such repurchase, plus accrued and unpaid interest to the date of repurchase. | |||||||||
Certain Covenants | |||||||||
The 5 3/4% Senior Notes Indenture limits Products Corporation’s and the Guarantors’ ability, and the ability of certain other subsidiaries, to: | |||||||||
• | incur or guarantee additional indebtedness (“Limitation on Debt”); | ||||||||
• | pay dividends, make repayments on indebtedness that is subordinated in right of payment to the 5 3/4% Senior Notes and make other “restricted payments” (“Limitation on Restricted Payments”); | ||||||||
• | make certain investments; | ||||||||
• | create liens on their assets to secure debt; | ||||||||
• | enter into transactions with affiliates; | ||||||||
• | merge, consolidate or amalgamate with another company (“Successor Company”); | ||||||||
• | transfer and sell assets (“Limitation on Asset Sales”); and | ||||||||
• | permit restrictions on the payment of dividends by Products Corporation’s subsidiaries (“Limitation on Dividends from Subsidiaries”). | ||||||||
These covenants are subject to important qualifications and exceptions. The 5 3/4% Senior Notes Indenture also contains customary affirmative covenants and events of default. | |||||||||
In addition, if during any period of time the 5 3/4% Senior Notes receive investment grade ratings from both Standard & Poor’s and Moody’s Investors Services, Inc. and no default or event of default has occurred and is continuing under the 5 3/4% Senior Notes Indenture, Products Corporation and its subsidiaries will not be subject to the covenants on Limitation on Debt, Limitation on Restricted Payments, Limitation on Asset Sales, Limitation on Dividends from Subsidiaries and certain provisions of the Successor Company covenant. | |||||||||
Registration Rights | |||||||||
On the Closing Date, Products Corporation, the Guarantors and the representatives of the initial purchasers of the 5 3/4% Senior Notes entered into a Registration Rights Agreement, pursuant to which Products Corporation and the Guarantors agreed with the representatives of the initial purchasers, for the benefit of the holders of the 5 3/4% Senior Notes, that Products Corporation will, at its cost, among other things: (i) file a registration statement with respect to the 5 3/4% Senior Notes within 150 days after the Closing Date to be used in connection with the exchange of the 5 3/4% Senior Notes and related guarantees for publicly registered notes and related guarantees with substantially identical terms in all material respects (except for the transfer restrictions relating to the 5 3/4% Senior Notes and interest rate increases as described below); (ii) use its reasonable best efforts to cause the applicable registration statement to become effective under the Securities Act within 210 days after the Closing Date; and (iii) use its reasonable best efforts to effect an exchange offer of the 5 3/4% Senior Notes and the related guarantees for registered notes and related guarantees within 270 days after the Closing Date. In addition, under certain circumstances, Products Corporation may be required to file a shelf registration statement to cover resales of the 5 3/4% Senior Notes. If Products Corporation fails to satisfy such obligations, it will be obligated to pay additional interest to each holder of the 5 3/4% Senior Notes that are subject to transfer restrictions, with respect to the first 90-day period immediately following any such failure, at a rate of 0.25% per annum on the principal amount of the 5 3/4% Senior Notes that are subject to transfer restrictions held by such holder. The amount of additional interest will increase by an additional 0.25% per annum with respect to each subsequent 90-day period until all registration requirements have been satisfied, up to a maximum amount of additional interest of 0.50% per annum on the principal amount of the 5 3/4% Senior Notes that are subject to transfer restrictions. Pursuant to the Registration Agreement, in May 2013 Products Corporation filed a registration statement, and filed amended registration statements in June and July 2013, with the SEC that, when such statement becomes effective, will permit holders of the 5 3/4% Senior Notes to exchange such notes for new notes that will have substantially identical terms to the 5 3/4% Senior Notes, except that (1) the new notes and the related guarantees will be registered with the SEC under the Securities Act, and (2) the transfer restrictions and registration rights currently applicable to the 5 3/4% Senior Notes would no longer apply to the new notes. | |||||||||
The registration statement for the 5 3/4% Senior Notes has not been declared effective by the SEC due to the requirements to include certain financial information regarding Colomer, on a historical and pro forma basis, in the registration statement. Such financial information was not available for inclusion in the registration statement within the time frame required under the Registration Rights Agreement for the registration statement to be declared effective, thereby requiring the payment of additional interest on the 5 3/4% Senior Notes as described above. Accordingly, the Company has accrued $0.3 million of additional interest as of September 30, 2013 with respect to and including the first 90-day period pursuant to the provisions of the Registration Rights Agreement described above, which period began on September 6, 2013. | |||||||||
Covenants | |||||||||
Products Corporation was in compliance with all applicable covenants under the Amended Term Loan Agreement and the Amended Revolving Credit Agreement as of September 30, 2013. At September 30, 2013, the aggregate principal amount outstanding under the 2011 Term Loan was $675.0 million and availability under the $140.0 million Amended Revolving Credit Facility, based upon the calculated borrowing base less $9.8 million of outstanding undrawn letters of credit and nil then drawn on the Amended Revolving Credit Facility, was $130.2 million. | |||||||||
Products Corporation was in compliance with all applicable covenants under its 5 3/4% Senior Notes Indenture as of September 30, 2013 and its 9 3/4% Senior Secured Notes Indenture as of December 31, 2012. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Accounting Policies [Abstract] | ' | ' |
Principles of Consolidation and Basis of Presentation: | ' | ' |
Principles of Consolidation and Basis of Presentation: | ||
Revlon Consumer Products Corporation (“Products Corporation” and together with its subsidiaries, the “Company”) operates in a single segment and manufactures, markets and sells an extensive array of cosmetics, women’s hair color, beauty tools, anti-perspirant deodorants, fragrances, skincare and other beauty care products. The Company’s vision is glamour, excitement and innovation through high-quality products at affordable prices. The Company’s principal customers include large mass volume retailers and chain drug and food stores in the U.S., as well as certain department stores and other specialty stores, such as perfumeries, outside the U.S. The Company also sells beauty products to U.S. military exchanges and commissaries and has a licensing business pursuant to which the Company licenses certain of its key brand names to third parties for the manufacture and sale of complementary beauty-related products and accessories in exchange for royalties. | ||
Products Corporation is a direct wholly-owned subsidiary of Revlon, Inc., which is a direct and indirect majority-owned subsidiary of MacAndrews & Forbes Holdings Inc. (“MacAndrews & Forbes Holdings” and, together with certain of its affiliates other than Revlon, Inc. and the Company, “MacAndrews & Forbes”), a corporation wholly-owned by Ronald O. Perelman. | ||
The accompanying Consolidated Financial Statements include the accounts of the Company after the elimination of all material intercompany balances and transactions. | ||
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Significant estimates made in the accompanying Consolidated Financial Statements include, but are not limited to, allowances for doubtful accounts, inventory valuation reserves, expected sales returns and allowances, trade support costs, certain assumptions related to the recoverability of intangible and long-lived assets, deferred tax valuation allowances, reserves for estimated tax liabilities, restructuring costs, certain estimates and assumptions used in the calculation of the net periodic benefit costs and the projected benefit obligations for the Company’s pension and other post-retirement plans, including the expected long-term return on pension plan assets and the discount rate used to value the Company’s year-end pension benefit obligations. | ||
Effective beginning October 1, 2012, the Company is consolidating and reporting Latin America and Canada (previously reported separately) as the combined Latin America and Canada region. Certain prior year amounts in the Consolidated Financial Statements and Notes to Consolidated Financial Statements have been reclassified to conform to the current year’s presentation. | ||
Cash and Cash Equivalents: | ' | ' |
Cash and Cash Equivalents: | ||
Cash equivalents are primarily investments in high-quality, short-term money market instruments with original maturities of three months or less and are carried at cost, which approximates fair value. Cash equivalents were $3.4 million and $4.2 million as of December 31, 2012 and 2011, respectively. Accounts payable includes $8.3 million and $1.0 million of outstanding checks not yet presented for payment at December 31, 2012 and 2011, respectively. | ||
Accounts Receivable: | ' | ' |
Accounts Receivable: | ||
Accounts receivable represent payments due to the Company for previously recognized net sales, reduced by an allowance for doubtful accounts for balances which are estimated to be uncollectible at December 31, 2012 and 2011, respectively. The Company grants credit terms in the normal course of business to its customers. Trade credit is extended based upon periodically updated evaluations of each customer’s ability to perform its payment obligations. The Company does not normally require collateral or other security to support credit sales. The allowance for doubtful accounts is determined based on historical experience and ongoing evaluations of the Company’s receivables and evaluations of the risks of payment. The allowance for doubtful accounts is recorded against accounts receivable balances when they are deemed uncollectible. Recoveries of accounts receivable previously reserved are recorded in the consolidated statements of income and comprehensive income when received. At December 31, 2012 and 2011, the Company’s three largest customers accounted for an aggregate of approximately 31% and 35%, respectively, of outstanding accounts receivable. | ||
Inventories: | ' | ' |
Inventories: | ||
Inventories are stated at the lower of cost or market value. Cost is principally determined by the first-in, first-out method. The Company records adjustments to the value of inventory based upon its forecasted plans to sell its inventories, as well as planned product discontinuances. The physical condition (e.g., age and quality) of the inventories is also considered in establishing the valuation. | ||
Property, Plant and Equipment and Other Assets: | ' | ' |
Property, Plant and Equipment and Other Assets: | ||
Property, plant and equipment is recorded at cost and is depreciated on a straight-line basis over the estimated useful lives of such assets as follows: land improvements, 20 years; buildings, 20 to 45 years; machinery and equipment, 3 to 10 years; office furniture and fixtures, 3 to 15 years; and capitalized software, 2 to 5 years. Leasehold improvements and building improvements are amortized over their estimated useful lives or the terms of the leases or remaining life of the original structure, respectively, whichever is shorter. Repairs and maintenance are charged to operations as incurred, and expenditures for additions and improvements are capitalized. See Note 6, “Property, Plant and Equipment, Net” for further discussion of the above. | ||
Included in other assets are permanent wall displays amounting to $60.8 million and $53.5 million as of December 31, 2012 and 2011, respectively, which are amortized generally over a period of 1 to 3 years. In the event of product discontinuances, from time to time the Company may accelerate the amortization of related permanent wall displays based on the estimated remaining useful life of the asset. Amortization expense for permanent wall displays was $36 million for 2012 and $35.2 million for both 2011 and 2010. The Company has also included, in other assets, net deferred financing costs related to the issuance of the Company’s debt instruments amounting to $17.0 million and $23.4 million as of December 31, 2012 and 2011, respectively, which are amortized over the terms of the related debt instruments. | ||
Long-lived assets, including fixed assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. If events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, the Company estimates the undiscounted future cash flows (excluding interest) resulting from the use of the asset and its ultimate disposition. If the sum of the undiscounted cash flows (excluding interest) is less than the carrying value, the Company recognizes an impairment loss, measured as the amount by which the carrying value exceeds the fair value of the asset. There was no significant impairment of long-lived assets in the years ended December 31, 2012, 2011 and 2010. | ||
Goodwill and Intangible Assets, net | ' | ' |
Goodwill: | ||
Goodwill represents the excess purchase price for businesses acquired over the fair value of net assets acquired. The Company does not amortize its goodwill. The Company reviews its goodwill for impairment at least annually, or whenever events or changes in circumstances would indicate possible impairment. The Company operates in one operating segment and one reportable segment, which is also the only reporting unit for purposes of accounting for goodwill. Since the Company currently only has one reporting unit, all of its goodwill has been assigned to the enterprise as a whole. Goodwill is reviewed for impairment annually, using September 30th carrying values. As the Company has a negative carrying value, the Company’s management performed an assessment of qualitative factors and concluded that it is more likely than not that a goodwill impairment does not exist. The Company did not record any impairment of goodwill during the years ended December 31, 2012, 2011 or 2010. In addition, the Company assesses potential impairments to goodwill when there is evidence that events or changes in circumstances indicate that the Company’s carrying amount may not be recovered. As of December 31, 2012, there have been no significant events since the timing of the Company’s annual impairment test that would have triggered additional impairment testing. See Note 7, “Goodwill and Intangible Assets, Net” for further discussion of the above. | ||
Intangible Assets, net: | ||
Intangible Assets, net, include customer relationships, trademarks and patents. Intangible assets with finite useful lives are amortized over their respective estimated useful lives to their estimated residual values. Customer relationships are recorded at cost and amortized ratably over a weighted average period of approximately 18 years. Trademarks and patents are recorded at cost and amortized ratably over a weighted average period of approximately 10 years. Intangible assets are considered for impairment upon certain “triggering events” and an impairment is recognized if the carrying amount exceeds the fair value of the intangible asset. There was no impairment of intangible assets in the years ended December 31, 2012, 2011 and 2010. See Note 7, “Goodwill and Intangible Assets, Net” for further discussion of the above. | ||
Revenue Recognition: | ' | ' |
Revenue Recognition: | ||
Sales are recognized when revenue is realized or realizable and has been earned. The Company’s policy is to recognize revenue when risk of loss and title to the product transfers to the customer. Net sales are comprised of gross revenues less expected returns, trade discounts and customer allowances, which include costs associated with off-invoice mark-downs and other price reductions, as well as trade promotions and coupons. These incentive costs are recognized at the later of the date on which the Company recognizes the related revenue or the date on which the Company offers the incentive. The Company allows customers to return their unsold products if and when they meet certain Company-established criteria as set forth in the Company’s trade terms. The Company regularly reviews and revises, when deemed necessary, its estimates of sales returns based primarily upon the historical rate of actual product returns, planned product discontinuances, new product launches and estimates of customer inventory and promotional sales. The Company records sales returns as a reduction to sales and cost of sales, and an increase to accrued liabilities and inventories. Returned products, which are recorded as inventories, are valued based upon the amount that the Company expects to realize upon their subsequent disposition. The physical condition and marketability of the returned products are the major factors considered by the Company in estimating their realizable value. | ||
Revenues derived from licensing arrangements, including any pre-payments, are recognized in the period in which they are earned, but not before the initial license term commences. | ||
Cost of Sales: | ' | ' |
Cost of Sales: | ||
Cost of sales includes all of the costs to manufacture the Company’s products. For products manufactured in the Company’s own facilities, such costs include raw materials and supplies, direct labor and factory overhead. For products manufactured for the Company by third-party contractors, such cost represents the amounts invoiced by the contractors. Cost of sales also includes the cost of refurbishing products returned by customers that will be offered for resale and the cost of inventory write-downs associated with adjustments of held inventories to their net realizable value. These costs are reflected in the Company’s consolidated statements of income and comprehensive income when the product is sold and net sales revenues are recognized or, in the case of inventory write-downs, when circumstances indicate that the carrying value of inventories is in excess of their recoverable value. Additionally, cost of sales reflects the costs associated with any free products included as sales and promotional incentives. These incentive costs are recognized on the later of the date that the Company recognizes the related revenue or the date on which the Company offers the incentive. | ||
Selling, General and Administrative Expenses: | ' | ' |
Selling, General and Administrative Expenses: | ||
Selling, general and administrative (“SG&A”) expenses include expenses to advertise the Company’s products, such as television advertising production costs and air-time costs, print advertising costs, promotional displays and consumer promotions. SG&A expenses also include the amortization of permanent wall displays and intangible assets, distribution costs (such as freight and handling), non-manufacturing overhead (principally personnel and related expenses), insurance and professional fees. | ||
Advertising: | ' | ' |
Advertising: | ||
Advertising within SG&A expenses includes television, print, digital and other advertising production costs which are expensed the first time the advertising takes place. The costs of promotional displays are expensed in the period in which they are shipped to customers. Advertising expenses were $269.4 million, $271.4 million and $265.2 million for 2012, 2011 and 2010, respectively, and were included in SG&A expenses in the Company’s Consolidated Statements of Income and Comprehensive Income. The Company also has various arrangements with customers pursuant to its trade terms to reimburse them for a portion of their advertising costs, which provide advertising benefits to the Company. Additionally, from time to time the Company may pay fees to customers in order to expand or maintain shelf space for its products. The costs that the Company incurs for “cooperative” advertising programs, end cap placement, shelf placement costs, slotting fees and marketing development funds, if any, are expensed as incurred and are netted against revenues on the Company’s consolidated statements of income and comprehensive income. | ||
Distribution Costs: | ' | ' |
Distribution Costs: | ||
Costs, such as freight and handling costs, associated with product distribution are expensed within SG&A expenses when incurred. Distribution costs were $62.1 million, $60.9 million and $58.7 million for 2012, 2011 and 2010, respectively. | ||
Income Taxes: | ' | ' |
Income Taxes: | ||
Income taxes are calculated using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in income tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. | ||
Research and Development: | ' | ' |
Research and Development: | ||
Research and development expenditures are expensed as incurred. The amounts charged against earnings in 2012, 2011 and 2010 for research and development expenditures were $24.2 million, $23.8 million and $24.0 million, respectively. | ||
Foreign Currency Translation: | ' | ' |
Foreign Currency Translation: | ||
Assets and liabilities of foreign operations are translated into U.S. dollars at the rates of exchange in effect at the balance sheet date. Income and expense items are translated at the weighted average exchange rates prevailing during each period presented. Gains and losses resulting from foreign currency transactions are included in the results of operations. Gains and losses resulting from translation of financial statements of foreign subsidiaries and branches operating in non-hyperinflationary economies are recorded as a component of accumulated other comprehensive loss until either the sale or upon the complete or substantially complete liquidation by the Company of its investment in a foreign entity. To the extent that foreign subsidiaries and branches operate in hyperinflationary economies, non-monetary assets and liabilities are translated at historical rates and translation adjustments are included in the results of operations. | ||
Venezuela | ||
Highly-Inflationary Economy: Effective January 1, 2010, Venezuela was designated as a highly inflationary economy under U.S. GAAP. As a result, beginning January 1, 2010, the U.S. dollar is the functional currency for the Company’s subsidiary in Venezuela (“Revlon Venezuela”). Through December 31, 2009, prior to Venezuela being designated as highly inflationary, currency translation adjustments of Revlon Venezuela’s balance sheet were reflected in stockholder’s deficiency as part of other comprehensive income (loss); however, subsequent to January 1, 2010, such adjustments are reflected in earnings. | ||
Currency Devaluation: On January 8, 2010, the Venezuelan government announced the devaluation of its local currency, Venezuelan Bolivars (“Bolivars”), relative to the U.S. dollar and the official exchange rate for non-essential goods changed from 2.15 to 4.30. Throughout 2010, the Company used Venezuela’s official rate to translate Revlon Venezuela’s financial statements. In 2010, the devaluation had the impact of reducing the Company’s reported net sales and operating income by $33.4 million and $8.4 million, respectively. Additionally, to reflect the impact of the currency devaluation, the Company recorded a one-time foreign currency loss of $2.8 million in January 2010 as a result of the required re-measurement of Revlon Venezuela’s balance sheet. As Venezuela was designated as a highly inflationary economy effective January 1, 2010, this foreign currency loss was reflected in earnings in the first quarter of 2010. | ||
Currency Restrictions: Currency restrictions enacted by the Venezuelan government in 2003 have become more restrictive and have impacted Revlon Venezuela’s ability to obtain U.S. dollars in exchange for Bolivars at the official foreign exchange rates from the Venezuelan government and its foreign exchange commission, the Comisión de Administracion de Divisas (“CADIVI”). In May 2010, the Venezuelan government took control over the previously freely-traded foreign currency exchange market and in June 2010, replaced it with a new foreign currency exchange system, the Sistema de Transacciones en Moneda Extranjera (“SITME”). SITME provides a mechanism to exchange Bolivars into U.S. dollars. However, U.S. dollars accessed through SITME can only be used for product purchases and related services, such as freight, and are not available for other transactions, such as the payment of dividends. Also, SITME can only be used for amounts of up to $50,000 per day, subject to a monthly maximum of $350,000 per legal entity, and is generally only available to the extent the applicant has not exchanged and received U.S. dollars from CADIVI within the previous 90 days. In the second quarter of 2011, the Company began using a SITME rate of 5.5 Bolivars per U.S. dollar to translate Revlon Venezuela’s financial statements, as this was the rate at which the Company accessed U.S. dollars in the SITME market during this period (the “SITME Rate”). The Company had previously utilized Venezuela’s official exchange rate of 4.3 Bolivars per U.S. dollar to translate Revlon Venezuela’s financial statements from January 1, 2010 through March 31, 2011. Through December 31, 2012, the Company continued using the SITME Rate to translate Revlon Venezuela’s financial statements. | ||
To reflect the impact of the change in exchange rates from Venezuela’s official exchange rate to the SITME Rate, a foreign currency loss of $1.7 million was recorded in the second quarter of 2011. As Venezuela was designated as a highly inflationary economy effective January 1, 2010, the Company reflected this foreign currency loss in earnings for the year ended December 31, 2011. | ||
Classes of Stock: | ' | ' |
Classes of Stock: | ||
Products Corporation designated 1,000 shares of preferred stock as the “RCPC Preferred Stock”, of which 546 shares are outstanding and all of which are held by Revlon, Inc. The holder of the RCPC Preferred Stock is not entitled to receive any dividends. The RCPC Preferred Stock is entitled to a liquidation preference of $100,000 per share before any distribution is made to the holder of Products Corporation’s common stock. The holder of the RCPC Preferred Stock does not have any voting rights, except as required by law. The RCPC Preferred Stock may be redeemed at any time by Products Corporation, at its option, for $100,000 per share. However, the terms of Products Corporation’s various debt agreements currently restrict Products Corporation’s ability to effect such redemption. | ||
Stock-Based Compensation: | ' | ' |
Stock-Based Compensation: | ||
The Company recognizes stock-based compensation costs for its stock options and restricted stock, measured at the fair value of each award at the time of grant, as an expense over the vesting period of the instrument. Upon the exercise of stock options or the vesting of restricted stock, any resulting tax benefits are recognized in additional paid-in-capital. Any resulting tax deficiencies are recognized in the consolidated statements of income and comprehensive income as tax expense to the extent that the tax deficiency amount exceeds any existing additional paid-in-capital resulting from previously realized excess tax benefits from previous awards. The Company reflects such excess tax benefits as cash flows from financing activities in the consolidated statements of cash flows. | ||
Derivative Financial Instruments: | ' | ' |
Derivative Financial Instruments: | ||
The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed by using derivative financial instruments are foreign currency exchange rate risk and interest rate risk. The Company uses derivative financial instruments, primarily foreign currency forward exchange contracts (“FX Contracts”) intended for the purpose of managing foreign currency exchange risk by reducing the effects of fluctuations in foreign currency exchange rates on the Company’s net cash flows. The Company may also enter into interest rate hedging transactions intended for the purpose of managing interest rate risk associated with Products Corporation’s variable rate indebtedness. | ||
Foreign Currency Forward Exchange Contracts | ||
Products Corporation enters into FX Contracts primarily to hedge the anticipated net cash flows resulting from inventory purchases and intercompany payments denominated in currencies other than the local currencies of the Company’s foreign and domestic operations and generally have maturities of less than one year. The Company does not apply hedge accounting to its FX Contracts. The Company records FX Contracts in its consolidated balance sheet at fair value and changes in fair value are immediately recognized in earnings. Fair value of the Company’s FX Contracts is determined by using observable market transactions of spot and forward rates. | ||
Interest Rate Swap | ||
Products Corporation’s 2008 Interest Rate Swap (as hereinafter defined) expired in April 2010. As of December 31, 2012, 2011 and 2010, the Company did not have any outstanding interest rate swaps. | ||
Recently Adopted Accounting Pronouncements | ' | ' |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements: | |
In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which amends Accounting Standards Codification (“ASC”) 220, “Comprehensive Income.” The amendments require an entity to disclose the impact of amounts reclassified out of accumulated other comprehensive income and into net income, by the respective line items of net income, if the amounts reclassified are reclassified to net income in their entirety in the same reporting period. The disclosure is required either on the face of the statement where net income is presented or in the notes. For amounts that are not reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The Company prospectively adopted ASU No. 2013-02 beginning January 1, 2013, and has provided the required disclosures. | In May 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards (“IFRS”),” which amends Accounting Standards Codification (“ASC”) 820, “Fair Value Measurement.” ASU No. 2011-04 modifies ASC 820 to include disclosure of all transfers between Level 1 and Level 2 asset and liability fair value categories. In addition, ASU No. 2011-04 provides guidance on measuring the fair value of financial instruments managed within a portfolio and the application of premiums and discounts on fair value measurements. ASU No. 2011-04 requires additional disclosure for Level 3 measurements regarding the sensitivity of fair value to changes in unobservable inputs and any interrelationships between those inputs. The Company adopted ASU No. 2011-04 beginning January 1, 2012 and such adoption did not have a material impact on the Company’s results of operations, financial condition or disclosures. | |
In June 2011, the FASB issued ASU No. 2011-05, “Presentation of Comprehensive Income.” ASU No. 2011-05 eliminates the option to report other comprehensive income and its components in the statement of changes in equity. Under ASU No. 2011-05, an entity can elect to present items of net income and other comprehensive income in one continuous statement or in two separate, but consecutive, statements. In addition, in December 2011, the FASB issued ASU No. 2011-12, “Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05.” ASU No. 2011-12 defers the requirement to present components of reclassifications of comprehensive income by income statement line item on the statement of comprehensive income, with all other requirements of ASU No. 2011-05 unaffected. The Company adopted ASU No. 2011-05 and ASU No. 2011-12 beginning January 1, 2012 and has elected to present items of net income and other comprehensive income in one continuous statement. | ||
Recently Issued Accounting Pronouncements | ' | ' |
Recently Issued Accounting Pronouncements | ||
In March 2013, the FASB issued ASU No. 2013-04, “Accounting for Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date”, which will require an entity to record an obligation resulting from joint and several liability arrangements at the greater of the amount that the entity has agreed to pay or the amount the entity expects to pay. Additional disclosures about joint and several liability arrangements will also be required. This guidance is effective for fiscal periods beginning after December 15, 2013, and is to be applied retrospectively for obligations that exist at the beginning of an entity’s fiscal year of adoption, with early adoption permitted. The Company does not expect that such adoption will have a material impact on the Company’s consolidated financial statements or financial statement disclosures. |
BUSINESS_ACQUISITIONS_Tables
BUSINESS ACQUISITIONS (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Pure Ice Acquisition [Member] | ' | ||||||||
Schedule of Net Assets Acquired | ' | ||||||||
The Company accounted for the Pure Ice Acquisition as a business combination during the third quarter of 2012 and, accordingly, the total consideration of $66.2 million has been recorded based on the respective estimated fair values of the net assets acquired at July 2, 2012 as follows: | |||||||||
Intangible assets | $ | 43.1 | |||||||
Goodwill | 23.1 | ||||||||
Total consideration | $ | 66.2 | |||||||
Schedule of Intangible Assets Acquired | ' | ||||||||
The intangible assets acquired by major asset category are as follows: | |||||||||
Fair Values | Weighted Average | ||||||||
at July 2, 2012 | Useful Life | ||||||||
(in years) | |||||||||
Customer Relationship | $ | 33.3 | 19 | ||||||
Trademarks and Trade Names | 9.8 | 10 | |||||||
Total | $ | 43.1 | |||||||
SinfulColors Acquisition [Member] | ' | ||||||||
Schedule of Net Assets Acquired | ' | ||||||||
The Company accounted for the SinfulColors Acquisition as a business combination during the first quarter of 2011 and, accordingly, the total consideration of $39.0 million has been recorded based on the respective estimated fair values of the net assets acquired at March 17, 2011 as follows: | |||||||||
Recognized amounts of assets acquired and liabilities assumed: | |||||||||
Trade receivables | $ | 2.7 | |||||||
Inventories | 3.3 | ||||||||
Property, plant and equipment, net | 0.4 | ||||||||
Intangible assets | 22.8 | ||||||||
Accounts payable | (0.9 | ) | |||||||
Accrued expenses and other | (1.4 | ) | |||||||
Fair value of net assets acquired | 26.9 | ||||||||
Goodwill | 12.1 | ||||||||
Total consideration | $ | 39 | |||||||
Schedule of Intangible Assets Acquired | ' | ||||||||
The intangible assets acquired by major asset category are as follows: | |||||||||
Fair Values at | Weighted Average | ||||||||
March 17, | Useful Life | ||||||||
2011 | (in years) | ||||||||
Trademarks and Trade Names | $ | 7.3 | 10 | ||||||
Customer Relationships | 15.5 | 14 | |||||||
Total | $ | 22.8 | |||||||
RESTRUCTURING_CHARGES_Tables
RESTRUCTURING CHARGES (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Restructuring Activities | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of the restructuring and related charges incurred through September 30, 2013 and expected to be incurred for the September 2012 Program, are as follows: | Details of the restructuring activity described above during 2012, 2011 and 2010 are as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Charges and Other, Net | Utilized, Net | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee | Other | Total | Returns(a) | Inventory | Other | Total | Balance | (Income) | Foreign | Cash | Noncash | Balance | ||||||||||||||||||||||||||||||||||||||||||
Severance | Restructuring | Write-offs(b) | Charges(c) | Restructuring | Beginning | Expenses, | Currency | End of | ||||||||||||||||||||||||||||||||||||||||||||||
and Other | Charges and | and Related | of Year | Net | Translation | Year | ||||||||||||||||||||||||||||||||||||||||||||||||
Personnel | Other, Net | Charges | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Benefits | Employee severance and other personnel benefits: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Charges incurred through December 31, 2012(d) | $ | 18.4 | $ | 2.3 | $ | 20.7 | $ | 1.6 | $ | 1.2 | $ | 0.6 | $ | 24.1 | September 2012 Program | $ | — | $ | 18.4 | $ | 0.4 | $ | (2.3 | ) | $ | 1.5 | $ | 18 | ||||||||||||||||||||||||||
Charges (benefits) incurred for the nine months ended September 30, 2013(e) | 2.6 | (0.8 | ) | 1.8 | — | 0.2 | 0.2 | 2.2 | Other: | |||||||||||||||||||||||||||||||||||||||||||||
September 2012 Program | — | 2.3 | — | (0.6 | ) | (0.8 | ) | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Cumulative charges incurred through September 30, 2013 | $ | 21 | $ | 1.5 | $ | 22.5 | $ | 1.6 | $ | 1.4 | $ | 0.8 | $ | 26.3 | Lease exit | 1 | — | — | (0.7 | ) | — | 0.3 | ||||||||||||||||||||||||||||||||
Total expected net charges | $ | 21 | $ | 1.7 | $ | 22.7 | $ | 1.6 | $ | 1.4 | $ | 0.8 | $ | 26.5 | Total restructuring charges | $ | 1 | $ | 20.7 | $ | 0.4 | $ | (3.6 | ) | $ | 0.7 | $ | 19.2 | ||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Returns are recorded as a reduction to net sales in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss). | Employee severance and other personnel benefits: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Inventory write-offs are recorded within cost of sales in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss). | 2009 Programs | $ | 1 | $ | — | $ | — | $ | (1.0 | ) | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||
(c) | Other charges are recorded within SG&A expenses within the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss). | Lease exit | 1.6 | — | — | (0.6 | ) | — | 1 | |||||||||||||||||||||||||||||||||||||||||||||
(d) | Included within the $18.4 million of employee severance and other personnel benefits is a net pension curtailment gain of $1.5 million recognized in the year ended December 31, 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(e) | Included within the $(0.8) million of other is a $2.5 million gain on the July 2013 sale of the Company’s manufacturing facility in France, which was recognized in the third quarter of 2013. | Total restructuring charges | $ | 2.6 | $ | — | $ | — | $ | (1.6 | ) | $ | — | $ | 1 | |||||||||||||||||||||||||||||||||||||||
2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee severance and other personnel benefits: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2008 Programs | $ | 0.3 | $ | — | $ | — | $ | (0.3 | ) | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
2009 Programs | 7.6 | (0.2 | ) | — | (6.4 | ) | — | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
7.9 | (0.2 | ) | — | (6.7 | ) | — | 1 | |||||||||||||||||||||||||||||||||||||||||||||||
Lease exit | 2.3 | (0.1 | ) | — | (0.6 | ) | — | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Total restructuring charges | $ | 10.2 | $ | (0.3 | ) | $ | — | $ | (7.3 | ) | $ | — | $ | 2.6 | ||||||||||||||||||||||||||||||||||||||||
Schedule of Restructuring Reserve by Type of Cost | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Details of the movements in the restructuring reserve during the first nine months of 2013 are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | (Income) | Foreign | Balance as of | |||||||||||||||||||||||||||||||||||||||||||||||||||
as of January 1, | Expense, Net(a) | Currency | Utilized, Net | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | Translation | Cash | Noncash | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 2012 Program: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee severance and other personnel benefits | $ | 18 | $ | 2.6 | $ | (0.2 | ) | $ | (13.5 | ) | $ | — | $ | 6.9 | ||||||||||||||||||||||||||||||||||||||||
Other | 0.9 | 1.7 | — | (2.3 | ) | — | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Lease exit | 0.3 | — | — | (0.3 | ) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Total restructuring reserve | $ | 19.2 | 4.3 | $ | (0.2 | ) | $ | (16.1 | ) | $ | — | $ | 7.2 | |||||||||||||||||||||||||||||||||||||||||
Gain on sale of France facility | (2.5 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total restructuring charges and other, net | $ | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | During the nine months ended September 30, 2013, the Company recorded additional charges related to the September 2012 Program primarily due to changes in estimates related to severance and other termination benefits, partially offset by a $2.5 million gain on the July 2013 sale of the Company’s manufacturing facility in France. |
INVENTORIES_Tables
INVENTORIES (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||||
Components of Inventories | ' | ' | ||||||||||||||||
INVENTORIES | ||||||||||||||||||
December 31, | ||||||||||||||||||
2012 | 2011 | |||||||||||||||||
September 30, | December 31, | Raw materials and supplies | $ | 36.6 | $ | 37.9 | ||||||||||||
2013 | 2012 | Work-in-process | 8.8 | 8.1 | ||||||||||||||
Raw materials and supplies | $ | 37.8 | $ | 36.6 | Finished goods | 69.3 | 65 | |||||||||||
Work-in-process | 12.4 | 8.8 | ||||||||||||||||
Finished goods | 92 | 69.3 | $ | 114.7 | $ | 111 | ||||||||||||
$ | 142.2 | $ | 114.7 | |||||||||||||||
PREPAID_EXPENSES_AND_OTHER_Tab
PREPAID EXPENSES AND OTHER (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule of Prepaid Expenses and Other | ' | ||||||||
December 31, | |||||||||
2012 | 2011 | ||||||||
Prepaid expenses | $ | 20.7 | $ | 18.2 | |||||
Receivable from Revlon, Inc. | 75.1 | 64.2 | |||||||
Other | 24.7 | 25.2 | |||||||
$ | 120.5 | $ | 107.6 | ||||||
PROPERTY_PLANT_AND_EQUIPMENT_N1
PROPERTY, PLANT AND EQUIPMENT, NET (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Components of Net Property, Plant and Equipment | ' | ||||||||
December 31, | |||||||||
2012 | 2011 | ||||||||
Land and improvements | $ | 1.9 | $ | 1.9 | |||||
Building and improvements | 62.3 | 63.1 | |||||||
Machinery, equipment and capital leases | 142.7 | 139.7 | |||||||
Office furniture, fixtures and capitalized software | 87.3 | 82 | |||||||
Leasehold improvements | 12.5 | 12.3 | |||||||
Construction-in-progress | 18.8 | 10.5 | |||||||
325.5 | 309.5 | ||||||||
Accumulated depreciation | (226.0 | ) | (210.6 | ) | |||||
$ | 99.5 | $ | 98.9 | ||||||
GOODWILL_AND_INTANGIBLE_ASSETS1
GOODWILL AND INTANGIBLE ASSETS, NET (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Intangible Assets, Net - Summary of Changes in Goodwill | ' | ||||||||||||||||
The following table presents the changes in goodwill during the years ended December 31, 2011 and 2012: | |||||||||||||||||
Balance at January 1, 2011 | $ | 182.7 | |||||||||||||||
Goodwill acquired | 12.1 | ||||||||||||||||
Foreign currency translation adjustment | (0.1 | ) | |||||||||||||||
Balance at December 31, 2011 | 194.7 | ||||||||||||||||
Goodwill acquired | 23.1 | ||||||||||||||||
Foreign currency translation adjustment | — | ||||||||||||||||
Balance at December 31, 2012 | $ | 217.8 | |||||||||||||||
Goodwill and Intangible Assets, Net - Summary of Total Purchased Intangible Assets | ' | ||||||||||||||||
The following table presents details of the Company’s total purchased intangible assets: | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Gross | Accumulated | Net | Weighted | ||||||||||||||
Carrying | Amortization | Intangible | Average Useful | ||||||||||||||
Amount | Assets | Life (in Years) | |||||||||||||||
Finite-lived intangible assets: | |||||||||||||||||
Customer relationships | $ | 48.8 | $ | (2.9 | ) | $ | 45.9 | 18 | |||||||||
Trademarks | 38.1 | (16.3 | ) | 21.8 | 10 | ||||||||||||
Patents | 11.6 | (10.5 | ) | 1.1 | 10 | ||||||||||||
$ | 98.5 | $ | (29.7 | ) | $ | 68.8 | |||||||||||
December 31, 2011 | |||||||||||||||||
Gross | Accumulated | Net | Weighted | ||||||||||||||
Carrying | Amortization | Intangible | Average Useful | ||||||||||||||
Amount | Assets | Life (in Years) | |||||||||||||||
Finite-lived intangible assets: | |||||||||||||||||
Customer relationships | $ | 15.5 | $ | (0.9 | ) | $ | 14.6 | 14 | |||||||||
Trademarks | 27.4 | (13.9 | ) | 13.5 | 10 | ||||||||||||
Patents | 11.4 | (10.3 | ) | 1.1 | 10 | ||||||||||||
$ | 54.3 | $ | (25.1 | ) | $ | 29.2 | |||||||||||
Estimated future amortization expense for finite-lived intangible assets | ' | ||||||||||||||||
The following table reflects the estimated future amortization expense for finite-lived intangible assets as of December 31, 2012: | |||||||||||||||||
Estimated | |||||||||||||||||
Amortization | |||||||||||||||||
Expense | |||||||||||||||||
2013 | $ | 6 | |||||||||||||||
2014 | 5.8 | ||||||||||||||||
2015 | 5.7 | ||||||||||||||||
2016 | 5.5 | ||||||||||||||||
2017 | 5.4 | ||||||||||||||||
Thereafter | 40.4 | ||||||||||||||||
Total | $ | 68.8 | |||||||||||||||
ACCRUED_EXPENSES_AND_OTHER_Tab
ACCRUED EXPENSES AND OTHER (Tables) | 12 Months Ended | |||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||
Components of Accrued Expenses and Other | ' | ' | ||||||||||||||||
September 30, | December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||
Sales returns and allowances | $ | 69.8 | $ | 87 | Sales returns and allowances | $ | 87 | $ | 85.4 | |||||||||
Advertising and promotional costs | 42.7 | 38.6 | Advertising and promotional costs | 38.6 | 32.2 | |||||||||||||
Compensation and related benefits | 40.1 | 56.4 | Compensation and related benefits | 56.4 | 52 | |||||||||||||
Taxes | 17.5 | 15.5 | Restructuring costs | 19.2 | 0.6 | |||||||||||||
Interest | 7.4 | 13.7 | Interest | 13.7 | 15.1 | |||||||||||||
Restructuring reserve | 7.2 | 19.2 | Taxes | 15.5 | 15.6 | |||||||||||||
Other | 40.1 | 34.3 | Other | 34.3 | 29.1 | |||||||||||||
$ | 224.8 | $ | 264.7 | $ | 264.7 | $ | 230 | |||||||||||
LONGTERM_DEBT_Tables
LONG-TERM DEBT (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||||
Components of Long Term Debt | ' | ' | ||||||||||||||||
September 30, | December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||
Amended Term Loan Facility: 2011 Term Loan due 2017, net of discounts (a) | $ | 669.8 | $ | 780.9 | 2011 Term Loan Facility due 2017, net of discounts (See (a) below) | $ | 780.9 | $ | 787.6 | |||||||||
Amended Revolving Credit Facility (c) | — | — | 2011 Revolving Credit Facility due 2016 (See (a) below) | — | — | |||||||||||||
5 3/4% Senior Notes due 2021 (b) | 500 | — | 9 3/4% Senior Secured Notes due 2015, net of discounts (See (b) below) | 328 | 327.4 | |||||||||||||
9 3/4% Senior Secured Notes due 2015, net of discounts (b) | — | 328 | Contributed Loan portion of the Amended and Restated Senior Subordinated Term Loan due 2013 (See (c) below) | 48.6 | — | |||||||||||||
Contributed Loan portion of the Amended and Restated Senior Subordinated Term Loan due 2013 (d) | 48.6 | 48.6 | Contributed Loan portion of the Senior Subordinated Term Loan due 2013 (See (c) below) | — | 48.6 | |||||||||||||
Non-Contributed Loan Portion of the Amended and Restated Senior Subordinated Term Loan due 2014 (d) | 58.4 | 58.4 | Non-Contributed Loan portion of the Amended and Restated Senior Subordinated Term Loan due 2014 (See (c) below) | 58.4 | — | |||||||||||||
December 31, | ||||||||||||||||||
1,276.80 | 1,215.90 | 2012 | 2011 | |||||||||||||||
Less current portion (a) | — | (21.5 | ) | Non-Contributed Loan portion of the Senior Subordinated Term Loan due 2014 (See (c) below) | — | 58.4 | ||||||||||||
Less current portion of long-term debt - affiliates (d) | (48.6 | ) | (48.6 | ) | ||||||||||||||
1,215.90 | 1,222.00 | |||||||||||||||||
1,228.20 | 1,145.80 | Less current portion of long-term debt (*) | (21.5 | ) | (8.0 | ) | ||||||||||||
Less current portion of long-term debt — affiliates (See (c) below) | (48.6 | ) | — | |||||||||||||||
(a) | In February 2013, Products Corporation consummated an amendment (the “February 2013 Term Loan Amendments”) to its third amended and restated term loan agreement dated as of May 19, 2011 (as amended, the “2011 Term Loan Agreement” or the “2011 Term Loan Facility”) for its 6.5-year term loan due November 19, 2017 (the “2011 Term Loan”). Refer to “Recent Debt Transactions – Term Loan Amendments - (i) February 2013 Term Loan Amendments” below for further discussion. | $ | 1,145.80 | $ | 1,214.00 | |||||||||||||
Additionally, in connection with the Colomer Acquisition, in August 2013, Products Corporation consummated further amendments (the “August 2013 Term Loan Amendments”) to its 2011 Term Loan Agreement (as amended by the August 2013 Term Loan Amendments and the Incremental Amendment (as hereinafter defined), the “Amended Term Loan Agreement” or the “Amended Term Loan Facility”). Refer to “Recent Debt Transactions – Term Loan Amendments—(ii) August 2013 Term Loan Amendments and (iii) Incremental Amendment” below for further discussion. | ||||||||||||||||||
(b) | On February 8, 2013, Products Corporation issued $500.0 million aggregate principal amount of 5 3/4% Senior Notes due February 15, 2021 (the “5 3/4% Senior Notes”) to investors at par. Products Corporation used $491.2 million of net proceeds (net of underwriters’ fees) from the issuance of the 5 3/4% Senior Notes to repay or redeem all of the $330 million outstanding aggregate principal amount of its 9 3/4% Senior Secured Notes due November 2015 (the “9 3/4% Senior Secured Notes”), as well as to pay an aggregate of $27.9 million for the applicable redemption and tender offer premiums, accrued interest and related fees and expenses. Products Corporation used a portion of the remaining proceeds, together with existing cash, to pay approximately $113.0 million of principal on its 2011 Term Loan in conjunction with the February 2013 Term Loan Amendments. Products Corporation used the remaining balance available from the issuance of the 5 3/4% Senior Notes for general corporate purposes, including, without limitation, debt reduction transactions, such as repaying to Revlon, Inc. at maturity on October 8, 2013 the Contributed Loan (as defined below). Refer to “Recent Debt Transactions – 2013 Senior Notes Refinancing” below for further discussion. | (*) | The Company classified $21.5 million of long-term debt as a current liability, which is comprised of the Company’s regularly scheduled $2.0 million principal repayment due on March 31, 2013 as well as the required “excess cash flow” payment (as defined under the 2011 Term Loan Agreement) to be made in 2013. (See below under “2011 Credit Agreements”). | |||||||||||||||
(c) | In connection with the Colomer Acquisition, in August 2013, Products Corporation consummated an amendment (the “August 2013 Revolver Amendment”) to its third amended and restated revolving credit agreement dated June 16, 2011 (as amended, the “Amended Revolving Credit Agreement”). Refer to “Recent Debt Transactions – Amended Revolving Credit Facility” below for further discussion. | |||||||||||||||||
(d) | For detail regarding Products Corporation’s Amended and Restated Senior Subordinated Term Loan (the “Amended and Restated Senior Subordinated Term Loan”), consisting of (i) the $58.4 million principal amount which remains owing from Products Corporation to various third parties (the “Non-Contributed Loan”), which matures on October 8, 2014, and (ii) the $48.6 million principal amount which, at September 30, 2013 was due from Products Corporation to Revlon, Inc. (the “Contributed Loan”), and which Products Corporation repaid to Revlon, Inc. at maturity on October 8, 2013, see Note 10, “Long-Term Debt,” to the Consolidated Financial Statements in the Company’s 2012 Form 10-K. | |||||||||||||||||
Schedule of Variable Rates on Revolving Credit Facility [Table Text Block] | ' | ' | ||||||||||||||||
As a result of the August 2013 Revolver Amendment, under the Amended Revolving Credit Facility, borrowings (other than loans in foreign currencies) bear interest, if made as Eurodollar Loans, at the Eurodollar Rate plus the applicable margin set forth in the grid below and, if made as Alternate Base Rate Loans, at the Alternate Base Rate plus the applicable margin set forth in the grid below. | Under the 2011 Revolving Credit Facility, borrowings (other than loans in foreign currencies) bear interest, if made as Eurodollar Loans, at the Eurodollar Rate, plus the applicable margin set forth in the grid below and, if made as Alternate Base Rate loans, at the Alternate Base Rate, plus the applicable margin set forth in the grid below: | |||||||||||||||||
Excess Availability | Alternate Base Rate | Eurodollar Loans, | Excess Availability | Alternate Base | Eurodollar | |||||||||||||
Loans | Eurocurrency Loan or | Rate Loans | Loans, | |||||||||||||||
Local Rate Loans | Eurocurrency | |||||||||||||||||
Greater than or equal to $92,000,000 | 0.5 | % | 1.5 | % | Loans or Local | |||||||||||||
Less than $92,000,000 but greater than or equal to $46,000,000 | 0.75 | % | 1.75 | % | Rate Loans | |||||||||||||
Less than $46,000,000 | 1 | % | 2 | % | Greater than or equal to $92,000,000 | 1 | % | 2 | % | |||||||||
Less than $92,000,000 but greater than or equal to $46,000,000 | 1.25 | % | 2.25 | % | ||||||||||||||
Less than $46,000,000 | 1.5 | % | 2.5 | % | ||||||||||||||
Debt Instrument, Redemption Price [Table Text Block] | ' | ' | ||||||||||||||||
On and after February 15, 2016, the 5 3/4% Senior Notes may be redeemed at Products Corporation’s option, at any time as a whole, or from time to time in part, at the following redemption prices (expressed as percentages of principal amount), plus accrued interest to the date of redemption, if redeemed during the 12-month period beginning on February 15th of the years indicated below: | ||||||||||||||||||
Year | Percentage | |||||||||||||||||
2016 | 104.313 | % | ||||||||||||||||
2017 | 102.875 | % | ||||||||||||||||
2018 | 101.438 | % | ||||||||||||||||
2019 and thereafter | 100 | % |
LONGTERM_DEBT_Tables1
LONG-TERM DEBT (Tables) | 12 Months Ended | ||||
Dec. 31, 2012 | |||||
Debt Disclosure [Abstract] | ' | ||||
Aggregate amounts of contractual long-term debt maturities | ' | ||||
The aggregate amounts of contractual long-term debt maturities at December 31, 2012 in the years 2013 through 2017 and thereafter are as follows: | |||||
Years ended December 31, | Long-term | ||||
debt | |||||
maturities | |||||
2013 | 70.1 | (a) | |||
2014 | 58.4 | (b) | |||
2015 | 332.5 | (c) | |||
2016 | 8 | (d) | |||
2017 | 756 | (e) | |||
Thereafter | — | ||||
Total long-term debt | $ | 1,225.00 | |||
Discounts | (9.1 | ) | |||
Total long-term debt, net of discounts | $ | 1,215.90 | |||
(a) | Amount refers to (i) a $2.0 million principal repayment on March 31, 2013, as well as the approximately $19.5 million “excess cash flow” payment (as defined under the 2011 Term Loan Agreement), to be made under the 2011 Term Loan Facility prior to April 10, 2013. Such repayment would satisfy Products Corporation’s future regularly scheduled term loan amortization payments in the direct order of maturities beginning in June 2013 through September 2015 and (ii) the aggregate principal amount outstanding under the Contributed Loan. Pursuant to the terms of the 2009 Exchange Offer, the maturity date on the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. was extended from August 2010 to October 8, 2013. | ||||
(b) | Amount refers to the aggregate principal amount outstanding under the Non-Contributed Loan which matures on October 8, 2014. | ||||
(c) | Amount refers to $2.5 million of quarterly amortization payments required under the 2011 Term Loan Facility and the principal balance due on the 9 3/4% Senior Secured Notes which mature on November 15, 2015. The difference between this amount and the carrying amount of the 9 3/4% Senior Secured Notes is due to the issuance of the $330.0 million in aggregate principal amount of the 9 3/4% Senior Secured Notes at a discount, which was priced at 98.9% of par. | ||||
(d) | Amount refers to the quarterly amortization payments required under the 2011 Term Loan Facility. Amount excludes amounts available under the 2011 Revolving Credit Facility which matures on June 16, 2016, and which was undrawn as of December 31, 2012. | ||||
(e) | Amount refers to the aggregate principal amount expected to be outstanding under the 2011 Term Loan Facility on its November 19, 2017 maturity date. The difference between this amount and the carrying amounts of the 2011 Term Loan Facility is due to the issuance of the $800.0 million in aggregate principal amount of the 2011 Term Loan Facility at a discount, which was priced at 99.5% of par. |
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Schedule of Fair Values of Financial Assets and Liabilities | ' | ' | ||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013, the fair values of the Company’s financial assets and liabilities that are required to be measured at fair value, namely its foreign currency forward exchange contracts (“FX Contracts”), are categorized in the table below: | As of December 31, 2012, the fair values of the Company’s financial assets and liabilities, namely its FX Contracts are categorized in the table below: | |||||||||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Assets: | Assets | |||||||||||||||||||||||||||||||||||||||||
Derivatives: | Derivatives: | |||||||||||||||||||||||||||||||||||||||||
FX Contracts(a) | $ | 0.5 | $ | — | $ | 0.5 | $ | — | FX Contracts(a) | $ | 0.1 | $ | — | $ | 0.1 | $ | — | |||||||||||||||||||||||||
Total assets at fair value | $ | 0.5 | $ | — | $ | 0.5 | $ | — | Total assets at fair value | $ | 0.1 | $ | — | $ | 0.1 | $ | — | |||||||||||||||||||||||||
Liabilities: | Liabilities | |||||||||||||||||||||||||||||||||||||||||
Derivatives: | Derivatives: | |||||||||||||||||||||||||||||||||||||||||
FX Contracts(a) | $ | 0.4 | $ | — | $ | 0.4 | $ | — | FX Contracts(a) | $ | 0.4 | $ | — | $ | 0.4 | $ | — | |||||||||||||||||||||||||
Total liabilities at fair value | $ | 0.4 | $ | — | $ | 0.4 | $ | — | Total liabilities at fair value | $ | 0.4 | $ | — | $ | 0.4 | $ | — | |||||||||||||||||||||||||
As of December 31, 2011, the fair values of the Company’s financial assets and liabilities, namely its FX Contracts are categorized in the table below: | ||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012, the fair values of the Company’s financial assets and liabilities that are required to be measured at fair value, namely its FX Contracts, are categorized in the table below: | ||||||||||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Assets | ||||||||||||||||||||||||||||||||||||||
Assets: | Derivatives: | |||||||||||||||||||||||||||||||||||||||||
Derivatives: | FX Contracts(a) | $ | 0.2 | $ | — | $ | 0.2 | $ | — | |||||||||||||||||||||||||||||||||
FX Contracts(a) | $ | 0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||||||||||||||||||||
Total assets at fair value | $ | 0.2 | $ | — | $ | 0.2 | $ | — | ||||||||||||||||||||||||||||||||||
Total assets at fair value | $ | 0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Derivatives: | |||||||||||||||||||||||||||||||||||||||||
Derivatives: | FX Contracts(a) | $ | 0.8 | $ | — | $ | 0.8 | $ | — | |||||||||||||||||||||||||||||||||
FX Contracts(a) | $ | 0.4 | $ | — | $ | 0.4 | $ | — | ||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | 0.8 | $ | — | $ | 0.8 | $ | — | ||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | 0.4 | $ | — | $ | 0.4 | $ | — | ||||||||||||||||||||||||||||||||||
(a) | The fair value of the Company’s FX Contracts was measured based on observable market transactions of spot and forward rates at December 31, 2012 and 2011. (See Note 12, “Financial Instruments.”) | |||||||||||||||||||||||||||||||||||||||||
(a) | The fair value of the Company’s FX Contracts was measured based on observable market transactions of spot and forward rates on the respective dates. See Note 10, “Financial Instruments.” | |||||||||||||||||||||||||||||||||||||||||
Financial Liabilities Not Measured At Fair Value But For Which Fair Value Disclosure Is Required Table | ' | ' | ||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013, the fair values and carrying values of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below: | As of December 31, 2012, the fair values and carrying values of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below: | |||||||||||||||||||||||||||||||||||||||||
Fair Value | Carrying | Fair Value | Carrying | |||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Value | Level 1 | Level 2 | Level 3 | Total | Value | |||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | |||||||||||||||||||||||||||||||||||||||||
Long-term debt, including current portion | $ | — | $ | 1,263.30 | $ | — | $ | 1,263.30 | $ | 1,276.80 | Long-term debt, including current portion | $ | — | $ | 1,245.90 | $ | — | $ | 1,245.90 | $ | 1,215.90 | |||||||||||||||||||||
As of December 31, 2012, the fair values and carrying values of the Company’s long-term debt, including the current portion of long-term debt are categorized in the table below: | ||||||||||||||||||||||||||||||||||||||||||
Fair Value | Carrying | |||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Value | ||||||||||||||||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||||||||||||
Long-term debt, including current portion | $ | — | $ | 1,245.90 | $ | — | $ | 1,245.90 | $ | 1,215.90 |
FINANCIAL_INSTRUMENTS_Tables
FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Derivative Financial Instruments in Consolidated Balance Sheet | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Fair Values of Derivative Financial Instruments in Consolidated Balance Sheets: | (a) Fair Value of Derivative Financial Instruments in the Consolidated Balance Sheet at December 31, 2012 and 2011: | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair Values of Derivative Instruments | Fair Values of Derivative Instruments as of December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet | September 30, | December 31, | Balance Sheet | September 30, | December 31, | Derivatives: | Balance Sheet | 2012 | 2011 | Balance Sheet | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
Classification | 2013 Fair Value | 2012 Fair Value | Classification | 2013 Fair Value | 2012 Fair Value | Classification | Fair | Fair | Classification | Fair | Fair | |||||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Value | Value | Value | Value | ||||||||||||||||||||||||||||||||||||||||||||||
FX Contracts(i) | Prepaid expenses | $ | 0.5 | $ | 0.1 | Accrued | $ | 0.4 | $ | 0.4 | Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
and other | Expenses | FX contracts(a) | Prepaid expenses | $ | 0.1 | $ | 0.2 | Accrued expenses | $ | 0.4 | $ | 0.8 | ||||||||||||||||||||||||||||||||||||||
(i) | The fair values of the FX Contracts at September 30, 2013 and December 31, 2012 were determined by using observable market transactions of spot and forward rates at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
(a) | The fair values of the FX Contracts at December 31, 2012 and 2011 were determined by using observable market transactions of spot and forward rates at December 31, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||
Effects of Derivative Financial Instruments on Income and Other Comprehensive Income (Loss) | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Effects of Derivative Financial Instruments on the Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended September 30, 2013 and 2012: | (b) | Effects of Derivative Financial Instruments on the Consolidated Statements of Income and Comprehensive Income for 2012, 2011 and 2010: | |||||||||||||||||||||||||||||||||||||||||||||||
Amount of (Loss) Gain Recognized | Derivative Instruments Gain (Loss) Effect on Consolidated Statements of Income and | |||||||||||||||||||||||||||||||||||||||||||||||||
in Foreign Currency (Gains) Losses, Net | Comprehensive Income for the year ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | Amount of Gain (Loss) Recognized | Income | Amount of Gain (Loss) | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | in Other Comprehensive Income | Statement | Reclassified from OCI to Income | ||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | (“OCI”) | Classification of | (Effective Portion) | ||||||||||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | (Effective Portion) | Gain (Loss) | ||||||||||||||||||||||||||||||||||||||||||||||||
FX Contracts | $ | (1.0 | ) | $ | (0.9 | ) | $ | 1.3 | $ | (2.0 | ) | Reclassified | ||||||||||||||||||||||||||||||||||||||
from OCI to | ||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | 2010 | Income | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||||||||||||||
2008 Interest Rate Swap(a) | $ | — | $ | — | $ | — | Interest Expense | $ | — | $ | — | $ | (0.9 | ) | ||||||||||||||||||||||||||||||||||||
Derivative Instruments Gain (Loss) Effect on Consolidated Statements of Income | ||||||||||||||||||||||||||||||||||||||||||||||||||
and Comprehensive Income for the year ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of Gain (Loss) | Income | Amount of Gain (Loss) | ||||||||||||||||||||||||||||||||||||||||||||||||
Recognized in Foreign Currency | Statement | Reclassified from OCI to Income | ||||||||||||||||||||||||||||||||||||||||||||||||
(Gains) Losses, Net | Classification of | (Ineffective Portion) | ||||||||||||||||||||||||||||||||||||||||||||||||
Gain (Loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassified | ||||||||||||||||||||||||||||||||||||||||||||||||||
from OCI to | ||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | 2010 | Income | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||||||||||||||
FX Contracts | $ | (1.9 | ) | $ | (1.1 | ) | $ | (3.1 | ) | |||||||||||||||||||||||||||||||||||||||||
2008 Interest Rate Swap(a) | — | — | — | Interest | $ | — | $ | — | $ | (0.8 | ) | |||||||||||||||||||||||||||||||||||||||
Expense | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | (1.9 | ) | $ | (1.1 | ) | $ | (3.1 | ) | $ | $ | $ | (0.8 | ) | |||||||||||||||||||||||||||||||||||||
— | — | |||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Effective March 11, 2010 (the closing date of the 2010 refinancing of the 2006 bank term loan facility), the 2008 Interest Rate Swap, which expired in April 2010, was no longer designated as a cash flow hedge. (See “Interest Rate Swap” in this Note 12). |
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
The Company’s income before income taxes and the applicable provision for (benefit from) income taxes are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2011 | 2010 | |||||||||||
Income from continuing operations before income taxes: | |||||||||||||
United States | $ | 108.4 | $ | 58.1 | $ | 40.2 | |||||||
Foreign | 7.2 | 40.7 | 48.5 | ||||||||||
$ | 115.6 | $ | 98.8 | $ | 88.7 | ||||||||
Provision for (benefit from) income taxes: | |||||||||||||
United States federal | $ | 43.1 | $ | 33.2 | $ | (209.2 | ) | ||||||
State and local | (9.8 | ) | (3.8 | ) | (42.8 | ) | |||||||
Foreign | 11.5 | 6 | 16.7 | ||||||||||
$ | 44.8 | $ | 35.4 | $ | (235.3 | ) | |||||||
Current: | |||||||||||||
United States federal | $ | 2.3 | $ | 0.8 | $ | 1 | |||||||
State and local | 2.2 | 0.7 | (4.5 | ) | |||||||||
Foreign | 10.7 | 21.7 | 15.5 | ||||||||||
15.2 | 23.2 | 12 | |||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2011 | 2010 | |||||||||||
Deferred: | |||||||||||||
United States federal | 76 | 60.1 | (197.5 | ) | |||||||||
State and local | (5.2 | ) | (1.4 | ) | (35.8 | ) | |||||||
Foreign | 3 | (14.4 | ) | 4.4 | |||||||||
73.8 | 44.3 | (228.9 | ) | ||||||||||
Benefits of operating loss carryforwards: | |||||||||||||
United States federal | (35.2 | ) | (27.7 | ) | (12.7 | ) | |||||||
State and local | (6.8 | ) | (3.1 | ) | (2.5 | ) | |||||||
Foreign | (2.2 | ) | (1.3 | ) | (3.2 | ) | |||||||
(44.2 | ) | (32.1 | ) | (18.4 | ) | ||||||||
$ | 44.8 | $ | 35.4 | $ | (235.3 | ) | |||||||
Reconciliation of Tax Expense to Statutory Federal Income Tax Rate | ' | ||||||||||||
The actual tax on income before income taxes is reconciled to the applicable statutory federal income tax rate as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2011 | 2010 | |||||||||||
Computed expected tax expense | $ | 40.5 | $ | 34.6 | $ | 31 | |||||||
State and local taxes, net of U.S. federal income tax benefit | 3.9 | (2.5 | ) | 0.1 | |||||||||
Foreign and U.S. tax effects attributable to operations outside the U.S. | (3.8 | ) | 3.8 | (5.1 | ) | ||||||||
Reduction in valuation allowance | (15.8 | ) | (16.9 | ) | (283.7 | ) | |||||||
Foreign dividends and earnings taxable in the U.S. | 12.7 | 15.2 | 14.5 | ||||||||||
Restructuring charges for which there is no tax benefit | 7.2 | — | — | ||||||||||
Other | 0.1 | 1.2 | 7.9 | ||||||||||
Tax expense | $ | 44.8 | $ | 35.4 | $ | (235.3 | ) | ||||||
Components of Deferred tax assets and liabilities | ' | ||||||||||||
Deferred taxes are the result of temporary differences between the bases of assets and liabilities for financial reporting and income tax purposes. Deferred tax assets and liabilities at December 31, 2012 and 2011 were comprised of the following: | |||||||||||||
December 31, | |||||||||||||
2012 | 2011 | ||||||||||||
Deferred tax assets: | |||||||||||||
Inventories | $ | 3.6 | $ | 3.5 | |||||||||
Net operating loss carryforwards — U.S. | 143.1 | 176.8 | |||||||||||
Net operating loss carryforwards — foreign | 51.1 | 82.8 | |||||||||||
Employee benefits | 98.9 | 101.1 | |||||||||||
State and local taxes | 2.3 | 2.2 | |||||||||||
Sales related reserves | 31.4 | 32.9 | |||||||||||
Other | 30.7 | 33 | |||||||||||
Total gross deferred tax assets | 361.1 | 432.3 | |||||||||||
Less valuation allowance | (70.6 | ) | (120.0 | ) | |||||||||
Total deferred tax assets, net of valuation allowance | 290.5 | 312.3 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Plant, equipment and other assets | (17.0 | ) | (17.6 | ) | |||||||||
Foreign currency translation adjustment | (1.1 | ) | (1.8 | ) | |||||||||
Other | (21.0 | ) | (20.4 | ) | |||||||||
Total gross deferred tax liabilities | (39.1 | ) | (39.8 | ) | |||||||||
Net deferred tax assets | $ | 251.4 | $ | 272.5 | |||||||||
Reconciliation of the beginning and ending amount of the unrecognized tax benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of the unrecognized tax benefits is as follows: | |||||||||||||
Balance at January 1, 2011 | $ | 44.1 | |||||||||||
Increase based on tax positions taken in a prior year | 5.1 | ||||||||||||
Decrease based on tax positions taken in a prior year | (3.7 | ) | |||||||||||
Increase based on tax positions taken in the current year | 6.3 | ||||||||||||
Decrease related to settlements with taxing authorities and changes in law | (1.0 | ) | |||||||||||
Decrease resulting from the lapse of statutes of limitations | (4.8 | ) | |||||||||||
Balance at December 31, 2011 | $ | 46 | |||||||||||
Increase based on tax positions taken in a prior year | 8.5 | ||||||||||||
Decrease based on tax positions taken in a prior year | (4.8 | ) | |||||||||||
Increase based on tax positions taken in the current year | 6 | ||||||||||||
Decrease resulting from the lapse of statutes of limitations | (5.8 | ) | |||||||||||
Balance at December 31, 2012 | $ | 49.9 | |||||||||||
SAVINGS_PLAN_PENSION_AND_POSTR1
SAVINGS PLAN, PENSION AND POST-RETIREMENT BENEFITS (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||
Summary of Aggregate Reconciliation of Projected Benefit Obligations, Plan Assets, Funded Status and Amounts Recognized | ' | ||||||||||||||||||||||||
The following table provides an aggregate reconciliation of the projected benefit obligations, plan assets, funded status and amounts recognized in the Company’s Consolidated Financial Statements related to the Company’s significant pension and other post-retirement plans. | |||||||||||||||||||||||||
Pension Plans | Other | ||||||||||||||||||||||||
Post-retirement | |||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||||||||||||
Change in Benefit Obligation: | |||||||||||||||||||||||||
Benefit obligation — beginning of year | $ | (700.5 | ) | $ | (642.3 | ) | $ | (16.1 | ) | $ | (16.1 | ) | |||||||||||||
Service cost | (1.6 | ) | (1.2 | ) | — | — | |||||||||||||||||||
Interest cost | (30.0 | ) | (32.4 | ) | (0.7 | ) | (0.9 | ) | |||||||||||||||||
Actuarial loss | (51.1 | ) | (62.0 | ) | (0.5 | ) | (0.6 | ) | |||||||||||||||||
Curtailment gain | 1.7 | — | — | — | |||||||||||||||||||||
Settlement gain | 0.2 | 0.3 | — | — | |||||||||||||||||||||
Benefits paid | 39 | 36.8 | 0.8 | 0.9 | |||||||||||||||||||||
Currency translation adjustments | (2.3 | ) | 0.3 | — | 0.6 | ||||||||||||||||||||
Plan participant contributions | — | — | — | — | |||||||||||||||||||||
Benefit obligation — end of year | $ | (744.6 | ) | $ | (700.5 | ) | $ | (16.5 | ) | $ | (16.1 | ) | |||||||||||||
Change in Plan Assets: | |||||||||||||||||||||||||
Fair value of plan assets — beginning of year | $ | 463.8 | $ | 449.5 | $ | — | $ | — | |||||||||||||||||
Actual return on plan assets | 64.2 | 21.3 | — | — | |||||||||||||||||||||
Employer contributions | 29 | 30.6 | 0.8 | 0.9 | |||||||||||||||||||||
Plan participant contributions | — | — | — | — | |||||||||||||||||||||
Benefits paid | (39.0 | ) | (36.8 | ) | (0.8 | ) | (0.9 | ) | |||||||||||||||||
Settlement gain | (0.2 | ) | (0.3 | ) | — | — | |||||||||||||||||||
Currency translation adjustments | 2.4 | (0.5 | ) | — | — | ||||||||||||||||||||
Fair value of plan assets — end of year | $ | 520.2 | $ | 463.8 | $ | — | $ | — | |||||||||||||||||
Unfunded status of plans at December 31, | $ | (224.4 | ) | $ | (236.7 | ) | $ | (16.5 | ) | $ | (16.1 | ) | |||||||||||||
Summary of Amounts Recognized in the Consolidated Balance Sheet in Respect to Pension Plans and Other Post Retirement Benefit Plans | ' | ||||||||||||||||||||||||
Pension Plans | Other | ||||||||||||||||||||||||
Post-retirement | |||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||||||||||||
Accrued expenses and other | $ | (6.4 | ) | $ | (6.5 | ) | $ | (0.8 | ) | $ | (0.8 | ) | |||||||||||||
Pension and other post-retirement benefit liabilities | (218.0 | ) | (230.2 | ) | (15.7 | ) | (15.3 | ) | |||||||||||||||||
(224.4 | ) | (236.7 | ) | (16.5 | ) | (16.1 | ) | ||||||||||||||||||
Accumulated other comprehensive loss | 264.2 | 250.4 | 4.6 | 4.4 | |||||||||||||||||||||
Income tax benefit | (35.9 | ) | (28.0 | ) | (0.5 | ) | (0.2 | ) | |||||||||||||||||
Portion allocated to Revlon Holdings | (0.9 | ) | (0.7 | ) | — | (0.2 | ) | ||||||||||||||||||
$ | 227.4 | $ | 221.7 | $ | 4.1 | $ | 4 | ||||||||||||||||||
Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Company's Pension Plans | ' | ||||||||||||||||||||||||
The projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for the Company’s pension plans are as follows: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Projected benefit obligation | $ | 744.6 | $ | 700.5 | |||||||||||||||||||||
Accumulated benefit obligation | 743.6 | 698.8 | |||||||||||||||||||||||
Fair value of plan assets | 520.2 | 463.8 | |||||||||||||||||||||||
Summary of Unrecognized Components of Net Periodic Benefit Cost | ' | ||||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss at December 31, 2012 in respect of the Company’s pension plans and other post-retirement plans, which have not yet been recognized as a component of net periodic benefit cost, are as follows: | |||||||||||||||||||||||||
Pension Benefits | Post-retirement | Total | |||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
Net actuarial loss | $ | 264.2 | $ | 4.6 | $ | 268.8 | |||||||||||||||||||
Prior service cost | — | — | — | ||||||||||||||||||||||
264.2 | 4.6 | 268.8 | |||||||||||||||||||||||
Income tax benefit | (35.9 | ) | (0.5 | ) | (36.4 | ) | |||||||||||||||||||
Portion allocated to Revlon Holdings | (0.9 | ) | — | (0.9 | ) | ||||||||||||||||||||
$ | 227.4 | $ | 4.1 | $ | 231.5 | ||||||||||||||||||||
Target Ranges per assets class | ' | ||||||||||||||||||||||||
The target ranges per asset class are as follows: | |||||||||||||||||||||||||
Target Ranges | |||||||||||||||||||||||||
U.S. Plans | International Plans | ||||||||||||||||||||||||
Asset Class: | |||||||||||||||||||||||||
Common and preferred stock | 0% —10 | % | — | ||||||||||||||||||||||
Mutual funds | 20% —30 | % | — | ||||||||||||||||||||||
Fixed income securities | 10% —30 | % | — | ||||||||||||||||||||||
Common and collective funds | 25% —55 | % | 100 | % | |||||||||||||||||||||
Hedge funds | 0% —15 | % | — | ||||||||||||||||||||||
Group annuity contract | 0% —5 | % | — | ||||||||||||||||||||||
Cash and other investments | 0% —10 | % | — | ||||||||||||||||||||||
Fair Value of U.S. and International Pension Plan Assets | ' | ||||||||||||||||||||||||
Fair Value of Pension Plan Assets: | |||||||||||||||||||||||||
The following table presents information on the fair value of the U.S. and international pension plan assets at December 31, 2012 and 2011: | |||||||||||||||||||||||||
U.S. Plans | International Plans | ||||||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||||||||||||
Fair value of plan assets | $ | 461.9 | $ | 413.7 | $ | 58.3 | $ | 50.1 | |||||||||||||||||
Fair Values of U.S. and International Pension Plan Assets by Asset Categories | ' | ||||||||||||||||||||||||
The fair values of the U.S. and International pension plan assets at December 31, 2012, by asset categories were as follows: | |||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets for | Inputs | Inputs | |||||||||||||||||||||||
Identical | (Level 2) | (Level 3) | |||||||||||||||||||||||
Assets (Level 1) | |||||||||||||||||||||||||
Common and Preferred Stock: | |||||||||||||||||||||||||
U.S. small/mid cap equity | $ | 18.9 | $ | 18.9 | $ | — | $ | — | |||||||||||||||||
Mutual Funds(a): | |||||||||||||||||||||||||
Corporate bonds | 19.4 | 19.4 | — | — | |||||||||||||||||||||
Government bonds | 16 | 16 | — | — | |||||||||||||||||||||
U.S. large cap equity | 63.2 | 63.2 | — | — | |||||||||||||||||||||
International equities | 4.6 | 4.6 | — | — | |||||||||||||||||||||
Emerging markets international equity | 5 | 5 | — | — | |||||||||||||||||||||
Other | 3.6 | 3.6 | — | — | |||||||||||||||||||||
Fixed Income Securities: | |||||||||||||||||||||||||
Corporate bonds | 49.8 | — | 49.2 | 0.6 | |||||||||||||||||||||
Government bonds | 9.9 | — | 9.9 | — | |||||||||||||||||||||
Common and Collective Funds(a) : | |||||||||||||||||||||||||
Corporate bonds | 57 | — | 57 | — | |||||||||||||||||||||
Government bonds | 70.2 | — | 70.2 | — | |||||||||||||||||||||
U.S. large cap equity | 27 | — | 27 | — | |||||||||||||||||||||
U.S. small/mid cap equity | 17.7 | — | 17.7 | — | |||||||||||||||||||||
International equities | 74.3 | — | 74.3 | — | |||||||||||||||||||||
Emerging markets international equity | 17.7 | — | 17.7 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 3 | — | 3 | — | |||||||||||||||||||||
Other | 1.1 | — | 1.1 | — | |||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets for | Inputs | Inputs | |||||||||||||||||||||||
Identical | (Level 2) | (Level 3) | |||||||||||||||||||||||
Assets (Level 1) | |||||||||||||||||||||||||
Hedge Funds(a): | |||||||||||||||||||||||||
Corporate bonds | 4.2 | — | 4.2 | — | |||||||||||||||||||||
Government bonds | 30.9 | — | 30.9 | — | |||||||||||||||||||||
U.S. large cap equity | 4.6 | — | 4.6 | — | |||||||||||||||||||||
International equities | 3.1 | — | 3.1 | — | |||||||||||||||||||||
Foreign exchange contracts | — | — | — | — | |||||||||||||||||||||
Cash and Cash Equivalents | 6 | — | 6 | — | |||||||||||||||||||||
Other | 3.8 | — | 3.8 | — | |||||||||||||||||||||
Group Annuity Contract | 2.3 | — | 2.3 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 6.9 | 6.9 | — | — | |||||||||||||||||||||
Fair value of plan assets at December 31, 2012 | $ | 520.2 | $ | 137.6 | $ | 382 | $ | 0.6 | |||||||||||||||||
The fair values of the U.S. and International pension plan assets at December 31, 2011, by asset categories were as follows: | |||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets for | Inputs | Inputs | |||||||||||||||||||||||
Identical | (Level 2) | (Level 3) | |||||||||||||||||||||||
Assets (Level 1) | |||||||||||||||||||||||||
Common and Preferred Stock: | |||||||||||||||||||||||||
U.S. small/mid cap equity | $ | 15.7 | $ | 15.7 | $ | — | $ | — | |||||||||||||||||
Mutual Funds(a): | |||||||||||||||||||||||||
Corporate bonds | 23.1 | 23.1 | — | — | |||||||||||||||||||||
Government bonds | 10.1 | 10.1 | — | — | |||||||||||||||||||||
U.S. large cap equity | 53.9 | 53.9 | — | — | |||||||||||||||||||||
International equities | 1.6 | 1.6 | — | — | |||||||||||||||||||||
Emerging markets international equity | 3.8 | 3.8 | — | — | |||||||||||||||||||||
Other | 3.7 | 3.7 | — | — | |||||||||||||||||||||
Fixed Income Securities: | |||||||||||||||||||||||||
Corporate bonds | 86.1 | — | 86.1 | — | |||||||||||||||||||||
Government bonds | 30.4 | — | 30.4 | — | |||||||||||||||||||||
Common and Collective Funds(a) : | |||||||||||||||||||||||||
Corporate bonds | 31.7 | — | 31.7 | — | |||||||||||||||||||||
Government bonds | 28.5 | — | 28.5 | — | |||||||||||||||||||||
U.S. large cap equity | 18.7 | — | 18.7 | — | |||||||||||||||||||||
U.S. small/mid cap equity | 14.5 | — | 14.5 | — | |||||||||||||||||||||
International equities | 64.3 | — | 64.3 | — | |||||||||||||||||||||
Emerging markets international equity | 15.2 | — | 15.2 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 0.8 | — | 0.8 | — | |||||||||||||||||||||
Other | 4.5 | — | 4.5 | — | |||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | ||||||||||||||||||||||
in Active | Observable | Unobservable | |||||||||||||||||||||||
Markets for | Inputs | Inputs | |||||||||||||||||||||||
Identical | (Level 2) | (Level 3) | |||||||||||||||||||||||
Assets (Level 1) | |||||||||||||||||||||||||
Hedge Funds(a): | |||||||||||||||||||||||||
Government bonds | 23.9 | — | 23.9 | — | |||||||||||||||||||||
U.S. large cap equity | 1.9 | — | 1.9 | — | |||||||||||||||||||||
International equities | 3.5 | — | 3.5 | — | |||||||||||||||||||||
Foreign exchange contracts | 5 | — | 5 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 0.7 | 0.7 | — | — | |||||||||||||||||||||
Other | 4.3 | — | 4.3 | — | |||||||||||||||||||||
Group Annuity Contract | 2.1 | — | 2.1 | — | |||||||||||||||||||||
Cash and Cash Equivalents | 15.8 | 15.8 | — | — | |||||||||||||||||||||
Fair value of plan assets at December 31, 2011 | $ | 463.8 | $ | 128.4 | $ | 335.4 | $ | — | |||||||||||||||||
(a) | The investments in mutual funds, common and collective funds and hedge funds are disclosed above within the respective underlying investments’ class (i.e., various equities, corporate bonds, government bonds and other investment classes), while the fair value hierarchy levels of the investments are based on the Company’s direct ownership unit of account. | ||||||||||||||||||||||||
Summary of Changes in Fair Values of U.S. and International Pension Plans' Level 3 Assets | ' | ||||||||||||||||||||||||
The following table sets forth a summary of changes in the fair values of the U.S. and International pension plans’ Level 3 assets for the years ended December 31, 2012 and 2011: | |||||||||||||||||||||||||
Total | Fixed | Hedge | |||||||||||||||||||||||
Income | Funds | ||||||||||||||||||||||||
Securities | |||||||||||||||||||||||||
Balance, January 1, 2011 | $ | 13.5 | $ | 0.1 | $ | 13.4 | |||||||||||||||||||
Actual return on plan assets sold during the year | (0.1 | ) | — | (0.1 | ) | ||||||||||||||||||||
Purchases, sales, and settlements, net | (13.4 | ) | (0.1 | ) | (13.3 | ) | |||||||||||||||||||
Balance, December 31, 2011 | $ | — | $ | — | $ | — | |||||||||||||||||||
Purchases, sales, and settlements, net | 0.6 | 0.6 | — | ||||||||||||||||||||||
Balance, December 31, 2012 | $ | 0.6 | $ | 0.6 | $ | — | |||||||||||||||||||
Summary of Benefit Payments Expected to be Paid Out of Company's Pension and Other Post-retirement Benefit Plans | ' | ||||||||||||||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid out of the Company’s pension and other post-retirement benefit plans: | |||||||||||||||||||||||||
Total | Total | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||
2013 | $ | 39.9 | $ | 1.3 | |||||||||||||||||||||
2014 | 40.9 | 1.3 | |||||||||||||||||||||||
2015 | 41.6 | 1.3 | |||||||||||||||||||||||
2016 | 42.4 | 1.3 | |||||||||||||||||||||||
2017 | 43.1 | 1.3 | |||||||||||||||||||||||
Years 2018 to 2022 | 226.3 | 6.1 | |||||||||||||||||||||||
Projected Benefit Obligation Assumptions [Member] | ' | ||||||||||||||||||||||||
Weighted-Average Assumptions | ' | ||||||||||||||||||||||||
The following weighted-average assumptions were used to determine the Company’s projected benefit obligation of the Company’s U.S. and International pension plans at the end of the respective years: | |||||||||||||||||||||||||
U.S. Plans | International Plans | ||||||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||||||||||||
Discount rate | 3.78 | % | 4.38 | % | 4.33 | % | 4.77 | % | |||||||||||||||||
Rate of future compensation increases | 3 | % | 3.5 | % | 2.97 | % | 3.05 | % | |||||||||||||||||
Net Periodic Benefit Cost Assumptions [Member] | ' | ||||||||||||||||||||||||
Weighted-Average Assumptions | ' | ||||||||||||||||||||||||
The following weighted-average assumptions were used to determine the Company’s net periodic benefit cost of the Company’s U.S. and International pension plans during the respective years: | |||||||||||||||||||||||||
U.S. Plans | International Plans | ||||||||||||||||||||||||
2012 | 2011 | 2010 | 2012 | 2011 | 2010 | ||||||||||||||||||||
Discount rate | 4.38 | % | 5.17 | % | 5.68 | % | 4.77 | % | 5.32 | % | 5.63 | % | |||||||||||||
Expected long-term return on plan assets | 7.75 | % | 8 | % | 8.25 | % | 6.22 | % | 6.25 | % | 6.5 | % | |||||||||||||
Rate of future compensation increases | 3.5 | % | 3.5 | % | 3.5 | % | 3.05 | % | 3.53 | % | 4.39 | % |
PENSION_AND_POSTRETIREMENT_BEN1
PENSION AND POST-RETIREMENT BENEFITS (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Components of Net Periodic Benefit Costs | ' | ' | ||||||||||||||||||||||||||||||||||||||||
The components of net periodic benefit (income) costs for the Company’s pension and the other post-retirement benefit plans for the third quarter of 2013 and 2012 are as follows: | The components of net periodic benefit cost for the pension plans and other post-retirement benefit plans are as follows: | |||||||||||||||||||||||||||||||||||||||||
Pension Plans | Other | Pension Plans | Other | |||||||||||||||||||||||||||||||||||||||
Post-retirement | Post-retirement | |||||||||||||||||||||||||||||||||||||||||
Benefit Plans | Benefit Plans | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | 2012 | 2011 | 2010 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Net periodic benefit cost: | ||||||||||||||||||||||||||||||||||||||
Net periodic benefit (income) costs: | Service cost | $ | 1.6 | $ | 1.2 | $ | 1.5 | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||
Service cost | $ | 0.3 | $ | 0.4 | $ | — | $ | — | Interest cost | 30 | 32.4 | 33.8 | 0.7 | 0.9 | 0.9 | |||||||||||||||||||||||||||
Interest cost | 6.9 | 7.5 | 0.1 | 0.1 | Expected return on plan assets | (35.2 | ) | (35.0 | ) | (32.1 | ) | — | — | — | ||||||||||||||||||||||||||||
Expected return on plan assets | (9.6 | ) | (8.8 | ) | — | — | Amortization of prior service cost (credit) | — | 0.1 | 0.1 | — | — | — | |||||||||||||||||||||||||||||
Amortization of actuarial loss | 2.1 | 2 | 0.1 | 0.1 | Amortization of actuarial loss | 8.1 | 5.3 | 5.1 | 0.3 | 0.3 | 0.2 | |||||||||||||||||||||||||||||||
Curtailment gain | (1.5 | ) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
(0.3 | ) | 1.1 | 0.2 | 0.2 | ||||||||||||||||||||||||||||||||||||||
Portion allocated to Revlon Holdings LLC | — | — | — | — | 3 | 4 | 8.4 | 1 | 1.2 | 1.1 | ||||||||||||||||||||||||||||||||
Portion allocated to Revlon Holdings | (0.1 | ) | (0.1 | ) | (0.1 | ) | — | (0.1 | ) | (0.1 | ) | |||||||||||||||||||||||||||||||
$ | (0.3 | ) | $ | 1.1 | $ | 0.2 | $ | 0.2 | ||||||||||||||||||||||||||||||||||
$ | 2.9 | $ | 3.9 | $ | 8.3 | $ | 1 | $ | 1.1 | $ | 1 | |||||||||||||||||||||||||||||||
The components of net periodic benefit (income) costs for the Company’s pension and the other post-retirement benefit plans for the first nine months of 2013 and 2012 are as follows: | ||||||||||||||||||||||||||||||||||||||||||
Pension Plans | Other | |||||||||||||||||||||||||||||||||||||||||
Post-retirement | ||||||||||||||||||||||||||||||||||||||||||
Benefit Plans | ||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Net periodic benefit (income) costs: | ||||||||||||||||||||||||||||||||||||||||||
Service cost | $ | 0.7 | $ | 1.2 | $ | — | $ | — | ||||||||||||||||||||||||||||||||||
Interest cost | 20.7 | 22.5 | 0.4 | 0.5 | ||||||||||||||||||||||||||||||||||||||
Expected return on plan assets | (28.7 | ) | (26.4 | ) | — | — | ||||||||||||||||||||||||||||||||||||
Amortization of actuarial loss | 6.4 | 6.1 | 0.3 | 0.2 | ||||||||||||||||||||||||||||||||||||||
(0.9 | ) | 3.4 | 0.7 | 0.7 | ||||||||||||||||||||||||||||||||||||||
Portion allocated to Revlon Holdings LLC | (0.1 | ) | (0.1 | ) | — | — | ||||||||||||||||||||||||||||||||||||
$ | (1.0 | ) | $ | 3.3 | $ | 0.7 | $ | 0.7 | ||||||||||||||||||||||||||||||||||
STOCK_COMPENSATION_PLAN_Tables
STOCK COMPENSATION PLAN (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of stock option activity | ' | ||||||||||||||||
A summary of stock option activity for the years ended December 31, 2012, 2011 and 2010 is presented below: | |||||||||||||||||
Stock | Weighted | ||||||||||||||||
Options | Average | ||||||||||||||||
(000’s) | Exercise | ||||||||||||||||
Price | |||||||||||||||||
Outstanding at January 1, 2010 | 1,231.30 | $ | 33.17 | ||||||||||||||
Forfeited and expired | (243.4 | ) | 39.22 | ||||||||||||||
Outstanding at December 31, 2010 | 987.9 | 31.68 | |||||||||||||||
Forfeited and expired | (723.4 | ) | 31.92 | ||||||||||||||
Outstanding at December 31, 2011 | 264.5 | 31.02 | |||||||||||||||
Forfeited and expired | (256.4 | ) | 31.06 | ||||||||||||||
Outstanding at December 31, 2012 | 8.1 | 29.91 | |||||||||||||||
Summary of Significant Ranges of Stock Plan's Stock Options Outstanding and Exercisable | ' | ||||||||||||||||
The following table summarizes significant ranges of the Stock Plan’s stock options outstanding and exercisable at December 31, 2012: | |||||||||||||||||
Outstanding and Exercisable | |||||||||||||||||
Range of Exercise Prices | Number | Weighted | Weighted | Aggregate | |||||||||||||
of | Average | Average | Intrinsic | ||||||||||||||
Options | Years | Exercise | Value | ||||||||||||||
(000’s) | Remaining | Price | |||||||||||||||
$27.50 to $30.60 | 8.1 | 0.5 | $ | 29.91 | — | ||||||||||||
Summary of the Restricted Stock and Restricted Stock Units Activity | ' | ||||||||||||||||
A summary of the restricted stock and restricted stock units activity for the years ended December 31, 2012, 2011 and 2010 is presented below: | |||||||||||||||||
Restricted | Weighted | ||||||||||||||||
Stock | Average | ||||||||||||||||
(000’s) | Grant | ||||||||||||||||
Date Fair | |||||||||||||||||
Value | |||||||||||||||||
Outstanding at January 1, 2010 | 1,141.40 | $ | 8.48 | ||||||||||||||
Vested(a) | (430.2 | ) | 8.94 | ||||||||||||||
Forfeited | (20.5 | ) | 8.13 | ||||||||||||||
Outstanding at December 31, 2010 | 690.7 | 8.2 | |||||||||||||||
Vested(a) | (419.5 | ) | 8.95 | ||||||||||||||
Forfeited | (13.8 | ) | 7.15 | ||||||||||||||
Outstanding at December 31, 2011 | 257.4 | 7.04 | |||||||||||||||
Vested(a) | (257.4 | ) | 7.04 | ||||||||||||||
Outstanding at December 31, 2012 | — | ||||||||||||||||
(a) | Of the amounts vested during 2012, 2011 and 2010, 83,582; 138,433; and 147,161 shares, respectively, were withheld by the Company to satisfy certain grantees’ minimum withholding tax requirements, which withheld shares became Revlon, Inc. treasury stock and are not sold on the open market. |
ACCUMULATED_OTHER_COMPREHENSIV1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Equity [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
Components of Accumulated Other Comprehensive Loss | ' | ' | ||||||||||||||||||||||||||||||||
The components of accumulated other comprehensive loss as of September 30, 2013 are as follows: | The components of accumulated other comprehensive loss as of December 31 2012, 2011 and 2010, respectively, are as follows: | |||||||||||||||||||||||||||||||||
Foreign | Actuarial (Loss) | Accumulated | Foreign | Actuarial | Prior Service | Deferred | Accumulated | |||||||||||||||||||||||||||
Currency | Gain on Post- | Other | Currency | (Loss) Gain | Cost on Post- | Loss - | Other | |||||||||||||||||||||||||||
Translation | retirement | Comprehensive | Translation | on Post- | retirement | Hedging | Comprehensive | |||||||||||||||||||||||||||
Benefits | Loss | retirement | Benefits | Loss | ||||||||||||||||||||||||||||||
Balance January 1, 2013 | $ | 23.3 | $ | (231.5 | ) | $ | (208.2 | ) | Benefits | |||||||||||||||||||||||||
Currency translation adjustment, net of tax expense of $3.2 | (3.6 | ) | — | (3.6 | ) | Balance January 1, 2010 | $ | 25.7 | $ | (181.6 | ) | $ | (0.3 | ) | $ | (1.7 | ) | $ | (157.9 | ) | ||||||||||||||
Amortization of pension related costs, net of tax benefit of $(0.9) | — | 5.8 | 5.8 | Unrealized gains (losses) | 7.4 | — | — | — | 7.4 | |||||||||||||||||||||||||
Reclassifications into net income(b) | — | — | — | 1.7 | 1.7 | |||||||||||||||||||||||||||||
Other comprehensive (loss) income | (3.6 | ) | 5.8 | 2.2 | Amortization of pension related costs(a) | — | 5.3 | 0.1 | — | 5.4 | ||||||||||||||||||||||||
Pension re-measurement | — | (8.4 | ) | — | — | (8.4 | ) | |||||||||||||||||||||||||||
Balance September 30, 2013 | $ | 19.7 | $ | (225.7 | ) | $ | (206.0 | ) | Pension curtailment gain(c) | — | 1.5 | — | — | 1.5 | ||||||||||||||||||||
Balance December 31, 2010 | 33.1 | (183.2 | ) | (0.2 | ) | — | (150.3 | ) | ||||||||||||||||||||||||||
Unrealized gains (losses), net of tax of $1.8 million | (8.3 | ) | — | — | — | (8.3 | ) | |||||||||||||||||||||||||||
Amortization of pension related costs, net of tax of $(2.0) million(a) | — | 3.5 | 0.1 | — | 3.6 | |||||||||||||||||||||||||||||
Pension re-measurement, net of tax of $30.1 million | — | (45.9 | ) | — | — | (45.9 | ) | |||||||||||||||||||||||||||
Balance December 31, 2011 | 24.8 | (225.6 | ) | (0.1 | ) | — | (200.9 | ) | ||||||||||||||||||||||||||
Unrealized gains (losses), net of tax of $1.0 million | (1.5 | ) | — | — | — | (1.5 | ) | |||||||||||||||||||||||||||
Amortization of pension related costs, net of tax of $(1.0) million(a)(e) | — | 9.4 | — | — | 9.4 | |||||||||||||||||||||||||||||
Pension re-measurement, net of tax of $7.2 million | — | (15.4 | ) | — | — | (15.4 | ) | |||||||||||||||||||||||||||
Pension curtailment gain(d) | — | 0.1 | 0.1 | — | 0.2 | |||||||||||||||||||||||||||||
Balance December 31, 2012 | $ | 23.3 | $ | (231.5 | ) | $ | — | $ | — | $ | (208.2 | ) | ||||||||||||||||||||||
(a) | Amounts represent the change in Accumulated Other Comprehensive Loss as a result of the amortization of unrecognized prior service costs and actuarial losses (gains) arising during each year related to the Company’s pension and other post-retirement plans. (See Note 14, “Savings Plan, Pension and Post-retirement Benefits”). | |||||||||||||||||||||||||||||||||
(b) | Amounts related to “Deferred Loss – Hedging” in 2010 represent (1) the reclassification of an unrecognized loss of $0.8 million on the 2008 Interest Rate Swap prior to its expiration in April 2010 from Accumulated Other Comprehensive Loss into earnings due to the discontinuance of hedge accounting as a result of the 2010 refinancing of the 2006 bank term loan facility (see Note 12, “Financial Instruments”) and (2) the reversal of amounts recorded in Accumulated Other Comprehensive Loss pertaining to the net settlement payment of $0.9 million on the 2008 Interest Rate Swap. | |||||||||||||||||||||||||||||||||
(c) | The Company recognized a $1.5 million curtailment gain in 2010, primarily in connection with the amendments to its Canadian defined benefit pension plan in 2010, which reduced pension liability and was recorded as an offset against the net actuarial losses previously reported within Accumulated Other Comprehensive Loss. (See Note 14, “Savings Plan, Pension and Post-retirement Benefits”). | |||||||||||||||||||||||||||||||||
(d) | As a result of the September 2012 Program, the Company recognized a curtailment gain of $1.7 million, partially offset by $0.1 million of accumulated actuarial losses and $0.1 million of prior service costs previously reported within Accumulated Other Comprehensive Loss, for a net gain of $1.5 million, which was recorded within restructuring charges for the year ended December 31, 2012. (See Note 14, “Savings Plan, Pension and Post-retirement Benefits”). | |||||||||||||||||||||||||||||||||
(e) | Included in this amount is a $2.0 million reclassification adjustment recorded in the first quarter of 2012 related to deferred taxes on the amortization of actuarial losses. |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Minimum Rental Commitments Under Noncancelable Leases | ' | ||||||||||||||||||||||||||||
Minimum rental commitments under all noncancelable leases, including those pertaining to idled facilities, are presented below. | |||||||||||||||||||||||||||||
Minimum Rental Commitments | Total | 2013 | 2014 | 2015 | 2016 | 2017 | Thereafter | ||||||||||||||||||||||
Capital leases | $ | 5.6 | $ | 2.5 | $ | 1.9 | $ | 0.9 | $ | 0.3 | $ | — | $ | — | |||||||||||||||
Operating leases | 62.8 | 18.1 | 13.5 | 6.6 | 5.9 | 3.4 | 15.3 |
QUARTERLY_RESULTS_OF_OPERATION1
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Summary of the Unaudited Quarterly Results of Operations | ' | ||||||||||||||||
The following is a summary of the Company’s unaudited quarterly results of operations: | |||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||
1st | 2nd | 3rd | 4th | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Net sales | $ | 330.7 | $ | 357.1 | $ | 347 | $ | 391.3 | |||||||||
Gross profit | 215 | 232.7 | 220 | 251.9 | |||||||||||||
Income (loss) from continuing operations, net of taxes(a)(b) | 10 | 20.1 | (10.0 | ) | 50.7 | ||||||||||||
Income from discontinued operations, net of taxes | — | 0.4 | — | — | |||||||||||||
Net income (loss)(a)(b) | 10 | 20.5 | (10.0 | ) | 50.7 | ||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||
1st | 2nd | 3rd | 4th | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Net sales | $ | 333.2 | $ | 351.2 | $ | 337.2 | $ | 359.8 | |||||||||
Gross profit | 219.9 | 229.3 | 214.1 | 225.5 | |||||||||||||
Income from continuing operations, net of taxes(c) | 12 | 7.2 | 5.3 | 38.9 | |||||||||||||
Income from discontinued operations, net of taxes | — | 0.6 | — | — | |||||||||||||
Net income(c) | 12 | 7.8 | 5.3 | 38.9 | |||||||||||||
(a) | Loss from continuing operations and net loss for the third quarter of 2012 were unfavorably impacted by $24.1 million in restructuring and related charges recorded as a result of the September 2012 Program (See Note 3, “Restructuring Charges”). | ||||||||||||||||
(b) | Income from continuing operations and net income for the fourth quarter of 2012 were favorably impacted by an increase in net income driven by a non-cash benefit of $15.8 million related to the reduction of the Company’s deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions in the U.S. at December 31, 2012, as a result of the Company’s improved earnings trends and cumulative taxable income in those jurisdictions, which is reflected in the provision for income taxes (See Note 13, “Income Taxes”). | ||||||||||||||||
(c) | Income from continuing operations and net income for the fourth quarter of 2011 were favorably impacted by an increase in net income driven by a non-cash benefit of $16.9 million related to the reduction of the Company’s deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions outside the U.S. at December 31, 2011 as a result of the Company’s improved earnings trends and cumulative taxable income in those jurisdictions. (See Note 13, “Income Taxes”). |
GEOGRAPHIC_FINANCIAL_AND_OTHER1
GEOGRAPHIC, FINANCIAL AND OTHER INFORMATION (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Sales and Long-Lived Assets by Geographic Area | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generally, net sales by geographic area are presented by attributing revenues from external customers on the basis of where the products are sold. | In the tables below, certain prior year amounts have been reclassified to conform to the current period’s presentation. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Geographic area: | Geographic area: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net sales: | Net sales: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | $ | 185.8 | 55 | % | $ | 192 | 55 | % | $ | 581.8 | 57 | % | $ | 580.6 | 56 | % | United States | $ | 800 | 56 | % | $ | 757.4 | 55 | % | $ | 729.1 | 55 | % | |||||||||||||||||||||||||||||
Outside of the United States | 153.6 | 45 | % | 155 | 45 | % | 439.6 | 43 | % | 454.2 | 44 | % | Outside of the United States | 626.1 | 44 | % | 624 | 45 | % | 592.3 | 45 | % | ||||||||||||||||||||||||||||||||||||
$ | 339.4 | $ | 347 | $ | 1,021.40 | $ | 1,034.80 | $ | 1,426.10 | $ | 1,381.40 | $ | 1,321.40 | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-lived assets, net: | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | $ | 440.9 | 91 | % | $ | 430.1 | 90 | % | Long-lived assets — net: | |||||||||||||||||||||||||||||||||||||||||||||||||
Outside of the United States | 46.2 | 9 | % | 48.5 | 10 | % | United States | $ | 430.1 | 90 | % | $ | 354.3 | 88 | % | |||||||||||||||||||||||||||||||||||||||||||
Outside of the United States | 48.5 | 10 | % | 48.5 | 12 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 487.1 | $ | 478.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 478.6 | $ | 402.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Sales by Classes of Similar Products | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Classes of similar products: | Classes of similar products: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net sales: | Net sales: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Color cosmetics | $ | 218.1 | 64 | % | $ | 225 | 65 | % | $ | 678 | 66 | % | $ | 680 | 66 | % | Color cosmetics | $ | 940 | 66 | % | $ | 880.4 | 64 | % | $ | 816.1 | 62 | % | |||||||||||||||||||||||||||||
Beauty care and fragrance | 121.3 | 36 | % | 122 | 35 | % | 343.4 | 34 | % | 354.8 | 34 | % | Beauty care and fragrance | 486.1 | 34 | % | 501 | 36 | % | 505.3 | 38 | % | ||||||||||||||||||||||||||||||||||||
$ | 339.4 | $ | 347 | $ | 1,021.40 | $ | 1,034.80 | $ | 1,426.10 | $ | 1,381.40 | $ | 1,321.40 | |||||||||||||||||||||||||||||||||||||||||||||
GUARANTOR_FINANCIAL_INFORMATIO1
GUARANTOR FINANCIAL INFORMATION (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Consolidating Condensed Balance Sheets | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||
ASSETS | ASSETS | |||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 103.7 | $ | 0.1 | $ | 35.5 | $ | — | $ | 139.3 | Cash and cash equivalents | $ | 59.1 | $ | — | $ | 57.2 | $ | — | $ | 116.3 | |||||||||||||||||||||
Trade receivables, less allowances for doubtful accounts | 85 | 22.8 | 86.3 | — | 194.1 | Trade receivables, less allowances for doubtful accounts | 96.2 | 23.1 | 96.7 | — | 216 | |||||||||||||||||||||||||||||||
Inventories | 91.7 | 11 | 39.5 | — | 142.2 | Inventories | 74.1 | 6.1 | 34.5 | — | 114.7 | |||||||||||||||||||||||||||||||
Deferred income taxes - current | 39.2 | — | 10.8 | — | 50 | Deferred income taxes — current | 38.2 | — | 10.3 | — | 48.5 | |||||||||||||||||||||||||||||||
Prepaid expenses and other | 110.9 | 6.4 | 25 | — | 142.3 | Prepaid expenses and other | 92.1 | 4.7 | 23.7 | — | 120.5 | |||||||||||||||||||||||||||||||
Intercompany receivables | 963.6 | 611.5 | 429.7 | (2,004.8 | ) | — | Intercompany receivables | 947.9 | 488.2 | 408 | (1,844.1 | ) | — | |||||||||||||||||||||||||||||
Investment in subsidiaries | (64.4 | ) | (156.9 | ) | — | 221.3 | — | Investment in subsidiaries | (94.6 | ) | (190.0 | ) | — | 284.6 | — | |||||||||||||||||||||||||||
Property, plant and equipment, net | 91.3 | 0.6 | 10.8 | — | 102.7 | Property, plant and equipment, net | 86.9 | 0.5 | 12.1 | — | 99.5 | |||||||||||||||||||||||||||||||
Deferred income taxes — noncurrent | 169.4 | — | 11.8 | — | 181.2 | Deferred income taxes — noncurrent | 189.9 | — | 13.2 | — | 203.1 | |||||||||||||||||||||||||||||||
Goodwill | 185.8 | 30 | 2.1 | — | 217.9 | Goodwill | 150.6 | 65.2 | 2 | — | 217.8 | |||||||||||||||||||||||||||||||
Intangible assets, net | 58.5 | 0.3 | 5.9 | — | 64.7 | Intangible assets, net | 0.9 | 61.3 | 6.6 | 68.8 | ||||||||||||||||||||||||||||||||
Other assets | 75 | 1.9 | 25 | — | 101.9 | Other assets | 63.5 | 3.5 | 25.5 | — | 92.5 | |||||||||||||||||||||||||||||||
Total assets | $ | 1,909.70 | $ | 527.7 | $ | 682.4 | $ | (1,783.5 | ) | $ | 1,336.30 | Total assets | $ | 1,704.80 | $ | 462.6 | $ | 689.8 | $ | (1,559.5 | ) | $ | 1,297.70 | |||||||||||||||||||
LIABILITIES AND STOCKHOLDER’S DEFICIENCY | ||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | — | $ | 4.9 | $ | 1.7 | $ | — | $ | 6.6 | LIABILITIES AND STOCKHOLDER’S DEFICIENCY | |||||||||||||||||||||||||||||||
Current portion of long-term debt | — | — | — | — | — | Short-term borrowings | $ | — | $ | 5 | $ | — | $ | — | $ | 5 | ||||||||||||||||||||||||||
Current portion of long-term debt — affiliates | 48.6 | — | — | — | 48.6 | Current portion of long-term debt | 21.5 | — | — | — | 21.5 | |||||||||||||||||||||||||||||||
Accounts payable | 73.7 | 5.8 | 23.9 | — | 103.4 | Current portion of long-term debt —affiliates | 48.6 | — | — | — | 48.6 | |||||||||||||||||||||||||||||||
Accrued expenses and other | 140.7 | 11.9 | 72.2 | — | 224.8 | Accounts payable | 62.2 | 5.1 | 34.5 | — | 101.8 | |||||||||||||||||||||||||||||||
Intercompany payables | 742.3 | 687.2 | 575.3 | (2,004.8 | ) | — | Accrued expenses and other | 155.7 | 13.8 | 95.2 | — | 264.7 | ||||||||||||||||||||||||||||||
Long-term debt | 1,228.20 | — | — | — | 1,228.20 | Intercompany payables | 614.6 | 650.7 | 578.8 | (1,844.1 | ) | — | ||||||||||||||||||||||||||||||
Other long-term liabilities | 217.9 | 3.6 | 44.9 | — | 266.4 | Long-term debt | 1,145.80 | — | — | — | 1,145.80 | |||||||||||||||||||||||||||||||
Other long-term liabilities | 233.1 | 6.2 | 47.7 | — | 287 | |||||||||||||||||||||||||||||||||||||
Total liabilities | 2,451.40 | 713.4 | 718 | (2,004.8 | ) | 1,878.00 | ||||||||||||||||||||||||||||||||||||
Stockholder’s deficiency | (541.7 | ) | (185.7 | ) | (35.6 | ) | 221.3 | (541.7 | ) | Total liabilities | 2,281.50 | 680.8 | 756.2 | (1,844.1 | ) | 1,874.40 | ||||||||||||||||||||||||||
Stockholder’s deficiency | (576.7 | ) | (218.2 | ) | (66.4 | ) | 284.6 | (576.7 | ) | |||||||||||||||||||||||||||||||||
Total liabilities and stockholder’s deficiency | $ | 1,909.70 | $ | 527.7 | $ | 682.4 | $ | (1,783.5 | ) | $ | 1,336.30 | |||||||||||||||||||||||||||||||
Total liabilities and stockholder’s deficiency | $ | 1,704.80 | $ | 462.6 | $ | 689.8 | $ | (1,559.5 | ) | $ | 1,297.70 | |||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Condensed Consolidating Balance Sheets | |||||||||||||||||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||
ASSETS | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 59.1 | $ | — | $ | 57.2 | $ | — | $ | 116.3 | ASSETS | |||||||||||||||||||||||||||||||
Trade receivables, less allowances for doubtful accounts | 96.2 | 23.1 | 96.7 | — | 216 | Cash and cash equivalents | $ | 57.7 | $ | 0.1 | $ | 43.9 | $ | — | $ | 101.7 | ||||||||||||||||||||||||||
Inventories | 74.1 | 6.1 | 34.5 | — | 114.7 | Trade receivables, less allowances for doubtful accounts | 107.1 | 18.2 | 86.7 | — | 212 | |||||||||||||||||||||||||||||||
Deferred income taxes — current | 38.2 | — | 10.3 | — | 48.5 | Inventories | 68.3 | 8.4 | 34.3 | — | 111 | |||||||||||||||||||||||||||||||
Prepaid expenses and other | 92.1 | 4.7 | 23.7 | — | 120.5 | Deferred income taxes — current | 40 | — | 9.6 | — | 49.6 | |||||||||||||||||||||||||||||||
Intercompany receivables | 947.9 | 488.2 | 408 | (1,844.1 | ) | — | Prepaid expenses and other | 78.3 | 4.2 | 25.1 | — | 107.6 | ||||||||||||||||||||||||||||||
Investment in subsidiaries | (94.6 | ) | (190.0 | ) | — | 284.6 | — | Intercompany receivables | 907.6 | 445.5 | 362.4 | (1,715.5 | ) | — | ||||||||||||||||||||||||||||
Property, plant and equipment, net | 86.9 | 0.5 | 12.1 | — | 99.5 | Investment in subsidiaries | (164.2 | ) | (193.0 | ) | — | 357.2 | — | |||||||||||||||||||||||||||||
Deferred income taxes — noncurrent | 189.9 | — | 13.2 | — | 203.1 | Property, plant and equipment, net | 85.2 | 0.9 | 12.8 | — | 98.9 | |||||||||||||||||||||||||||||||
Goodwill | 150.6 | 65.2 | 2 | — | 217.8 | Deferred income taxes — noncurrent | 206.9 | — | 14.5 | — | 221.4 | |||||||||||||||||||||||||||||||
Intangible assets, net | 0.9 | 61.3 | 6.6 | — | 68.8 | Goodwill | 150.6 | 42.2 | 1.9 | — | 194.7 | |||||||||||||||||||||||||||||||
Other assets | 63.5 | 3.5 | 25.5 | — | 92.5 | Intangible assets, net | 0.9 | 21.7 | 6.6 | — | 29.2 | |||||||||||||||||||||||||||||||
Other assets | 52.7 | 2.8 | 24.5 | — | 80 | |||||||||||||||||||||||||||||||||||||
Total assets | $ | 1,704.80 | $ | 462.6 | $ | 689.8 | $ | (1,559.5 | ) | $ | 1,297.70 | |||||||||||||||||||||||||||||||
Total assets | $ | 1,591.10 | $ | 351 | $ | 622.3 | $ | (1,358.3 | ) | $ | 1,206.10 | |||||||||||||||||||||||||||||||
LIABILITIES AND STOCKHOLDER’S DEFICIENCY | ||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | — | $ | 5 | $ | — | $ | — | $ | 5 | LIABILITIES AND STOCKHOLDER’S DEFICIENCY | |||||||||||||||||||||||||||||||
Current portion of long-term debt | 21.5 | — | — | — | 21.5 | Short-term borrowings | $ | — | $ | 3.6 | $ | 2.3 | $ | — | $ | 5.9 | ||||||||||||||||||||||||||
Current portion of long-term debt — affiliates | 48.6 | — | — | — | 48.6 | Current portion of long-term debt | 8 | — | — | — | 8 | |||||||||||||||||||||||||||||||
Accounts payable | 62.2 | 5.1 | 34.5 | — | 101.8 | Accounts payable | 56 | 3.9 | 29.1 | — | 89 | |||||||||||||||||||||||||||||||
Accrued expenses and other | 155.7 | 13.8 | 95.2 | — | 264.7 | Accrued expenses and other | 150.8 | 10.8 | 68.4 | — | 230 | |||||||||||||||||||||||||||||||
Intercompany payables | 614.6 | 650.7 | 578.8 | (1,844.1 | ) | — | Intercompany payables | 559 | 609.9 | 546.6 | (1,715.5 | ) | — | |||||||||||||||||||||||||||||
Long-term debt | 1,145.80 | — | — | — | 1,145.80 | Long-term debt | 1,107.00 | — | — | — | 1,107.00 | |||||||||||||||||||||||||||||||
Other long-term liabilities | 233.1 | 6.2 | 47.7 | — | 287 | Long-term debt — affiliates | 107 | — | — | — | 107 | |||||||||||||||||||||||||||||||
Other long-term liabilities | 244.9 | 5.3 | 50.6 | — | 300.8 | |||||||||||||||||||||||||||||||||||||
Total liabilities | 2,281.50 | 680.8 | 756.2 | (1,844.1 | ) | 1,874.40 | ||||||||||||||||||||||||||||||||||||
Stockholder’s deficiency | (576.7 | ) | (218.2 | ) | (66.4 | ) | 284.6 | (576.7 | ) | Total liabilities | 2,232.70 | 633.5 | 697 | (1,715.5 | ) | 1,847.70 | ||||||||||||||||||||||||||
Stockholder’s deficiency | (641.6 | ) | (282.5 | ) | (74.7 | ) | 357.2 | (641.6 | ) | |||||||||||||||||||||||||||||||||
Total liabilities and stockholder’s deficiency | $ | 1,704.80 | $ | 462.6 | $ | 689.8 | $ | (1,559.5 | ) | $ | 1,297.70 | |||||||||||||||||||||||||||||||
Total liabilities and stockholder’s deficiency | $ | 1,591.10 | $ | 351 | $ | 622.3 | $ | (1,358.3 | ) | $ | 1,206.10 | |||||||||||||||||||||||||||||||
Consolidating Condensed Statement of Income and Comprehensive Income | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income (Loss) | Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||||||||||||||
For the Three Months ended September 30, 2013 | For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||
Net Sales | $ | 229.4 | $ | 25.3 | $ | 133.2 | $ | (48.5 | ) | $ | 339.4 | Net sales | $ | 929.9 | $ | 113.6 | $ | 576.1 | $ | (193.5 | ) | $ | 1,426.10 | |||||||||||||||||||
Cost of sales | 106.2 | 12.6 | 53.5 | (48.5 | ) | 123.8 | Cost of sales | 418.6 | 53.7 | 227.7 | (193.5 | ) | 506.5 | |||||||||||||||||||||||||||||
Gross profit | 123.2 | 12.7 | 79.7 | — | 215.6 | Gross profit | 511.3 | 59.9 | 348.4 | — | 919.6 | |||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 106.7 | 9.4 | 58.3 | — | 174.4 | Selling, general and administrative expenses | 397.2 | 47.3 | 246.4 | — | 690.9 | |||||||||||||||||||||||||||||||
Restructuring charges and other, net | — | 0.1 | (1.6 | ) | — | (1.5 | ) | Restructuring charges | 1.2 | 0.7 | 18.8 | — | 20.7 | |||||||||||||||||||||||||||||
Operating income | 16.5 | 3.2 | 23 | — | 42.7 | Operating income | 112.9 | 11.9 | 83.2 | — | 208 | |||||||||||||||||||||||||||||||
Other expenses (income), net: | Other expenses, net: | |||||||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.2 | (0.1 | ) | 1.5 | — | 1.6 | Intercompany interest, net | 0.8 | (0.8 | ) | 6.2 | — | 6.2 | |||||||||||||||||||||||||||||
Interest expense | 16 | 0.1 | 0.1 | — | 16.2 | Interest expense | 78.4 | 0.3 | 0.4 | — | 79.1 | |||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 0.8 | — | — | — | 0.8 | Amortization of debt issuance costs | 3.4 | — | — | — | 3.4 | |||||||||||||||||||||||||||||||
Loss on early extinguishment of debt | 0.2 | — | — | — | 0.2 | Foreign currency (gains) losses, net | (0.4 | ) | 0.5 | 2.6 | — | 2.7 | ||||||||||||||||||||||||||||||
Foreign currency (gains) losses, net | (1.5 | ) | 0.5 | 1.4 | — | 0.4 | Miscellaneous, net | (70.1 | ) | 6.8 | 64.3 | — | 1 | |||||||||||||||||||||||||||||
Miscellaneous, net | (10.9 | ) | (5.8 | ) | 17.2 | — | 0.5 | |||||||||||||||||||||||||||||||||||
Other expenses, net | 12.1 | 6.8 | 73.5 | — | 92.4 | |||||||||||||||||||||||||||||||||||||
Other expenses (income), net | 4.8 | (5.3 | ) | 20.2 | — | 19.7 | ||||||||||||||||||||||||||||||||||||
Income from continuing operations before income taxes | 100.8 | 5.1 | 9.7 | — | 115.6 | |||||||||||||||||||||||||||||||||||||
Income from continuing operations before income taxes | 11.7 | 8.5 | 2.8 | — | 23 | Provision for income taxes | 25 | 8.9 | 10.9 | — | 44.8 | |||||||||||||||||||||||||||||||
Provision for income taxes | 10.9 | 0.4 | 1.7 | — | 13 | |||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations, net of taxes | 75.8 | (3.8 | ) | (1.2 | ) | — | 70.8 | |||||||||||||||||||||||||||||||||||
Income from continuing operations | 0.8 | 8.1 | 1.1 | — | 10 | Income from discontinued operations, net of taxes | 0.4 | — | — | — | 0.4 | |||||||||||||||||||||||||||||||
Income from discontinued operations, net of taxes | — | — | — | — | — | Equity in loss of subsidiaries | (5.0 | ) | (11.9 | ) | — | 16.9 | — | |||||||||||||||||||||||||||||
Equity in income of subsidiaries | 9.2 | 2.2 | — | (11.4 | ) | — | ||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 71.2 | $ | (15.7 | ) | $ | (1.2 | ) | $ | 16.9 | $ | 71.2 | ||||||||||||||||||||||||||||||
Net income | $ | 10 | $ | 10.3 | $ | 1.1 | $ | (11.4 | ) | $ | 10 | |||||||||||||||||||||||||||||||
Other comprehensive (loss) income | (7.3 | ) | 10.6 | 12.8 | (23.4 | ) | (7.3 | ) | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 3.1 | (1.4 | ) | (1.2 | ) | 2.6 | 3.1 | |||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) | $ | 63.9 | $ | (5.1 | ) | $ | 11.6 | $ | (6.5 | ) | $ | 63.9 | ||||||||||||||||||||||||||||||
Total comprehensive income (loss) | $ | 13.1 | $ | 8.9 | $ | (0.1 | ) | $ | (8.8 | ) | $ | 13.1 | ||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | ||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Operations and Comprehensive Loss | For the Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||
For the Three Months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Net sales | $ | 883.7 | $ | 95.2 | $ | 574.9 | $ | (172.4 | ) | $ | 1,381.40 | ||||||||||||||||||||||||||||
Net Sales | $ | 221.1 | $ | 34 | $ | 141.3 | $ | (49.4 | ) | $ | 347 | Cost of sales | 399.8 | 45 | 220.2 | (172.4 | ) | 492.6 | ||||||||||||||||||||||||
Cost of sales | 101.8 | 15.6 | 59 | (49.4 | ) | 127 | ||||||||||||||||||||||||||||||||||||
Gross profit | 483.9 | 50.2 | 354.7 | — | 888.8 | |||||||||||||||||||||||||||||||||||||
Gross profit | 119.3 | 18.4 | 82.3 | — | 220 | Selling, general and administrative expenses | 391.9 | 40.6 | 245.6 | — | 678.1 | |||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 100 | 13 | 61.7 | — | 174.7 | |||||||||||||||||||||||||||||||||||||
Restructuring charges and other, net | 1.2 | 0.5 | 19.3 | — | 21 | Operating income | 92 | 9.6 | 109.1 | — | 210.7 | |||||||||||||||||||||||||||||||
Operating income | 18.1 | 4.9 | 1.3 | — | 24.3 | Other expenses, net: | ||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.1 | (1.0 | ) | 7.1 | — | 6.2 | ||||||||||||||||||||||||||||||||||||
Other expenses (income), net: | Interest expense | 84.2 | 0.3 | 0.4 | — | 84.9 | ||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.2 | (0.3 | ) | 1.6 | — | 1.5 | Amortization of debt issuance costs | 3.7 | — | — | — | 3.7 | ||||||||||||||||||||||||||||||
Interest expense | 19.6 | 0.2 | 0.1 | — | 19.9 | Loss on early extinguishment of debt, net | 11.2 | — | — | — | 11.2 | |||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 0.9 | — | — | — | 0.9 | Foreign currency (gains) losses, net | (1.5 | ) | 0.5 | 5.4 | — | 4.4 | ||||||||||||||||||||||||||||||
Foreign currency (gains) losses, net | (1.1 | ) | 0.1 | 0.9 | — | (0.1 | ) | Miscellaneous, net | (47.9 | ) | (1.9 | ) | 51.3 | — | 1.5 | |||||||||||||||||||||||||||
Miscellaneous, net | (27.2 | ) | 13.7 | 13.6 | — | 0.1 | ||||||||||||||||||||||||||||||||||||
Other expenses, net | 49.8 | (2.1 | ) | 64.2 | — | 111.9 | ||||||||||||||||||||||||||||||||||||
Other (income) expenses, net | (7.6 | ) | 13.7 | 16.2 | — | 22.3 | ||||||||||||||||||||||||||||||||||||
Income from continuing operations before income taxes | 42.2 | 11.7 | 44.9 | — | 98.8 | |||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | 25.7 | (8.8 | ) | (14.9 | ) | — | 2 | Provision for income taxes | 26.8 | 3.2 | 5.4 | — | 35.4 | |||||||||||||||||||||||||||||
Provision for income taxes | 6.4 | 2.3 | 3.3 | — | 12 | |||||||||||||||||||||||||||||||||||||
Income from continuing operations, net of taxes | 15.4 | 8.5 | 39.5 | — | 63.4 | |||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | 19.3 | (11.1 | ) | (18.2 | ) | — | (10.0 | ) | Income from discontinued operations, net of taxes | 0.6 | — | — | — | 0.6 | ||||||||||||||||||||||||||||
Equity in loss of subsidiaries | (29.3 | ) | (25.2 | ) | — | 54.5 | — | Equity in income of subsidiaries | 48 | 10.8 | — | (58.8 | ) | — | ||||||||||||||||||||||||||||
Net loss | $ | (10.0 | ) | $ | (36.3 | ) | $ | (18.2 | ) | $ | 54.5 | $ | (10.0 | ) | Net income | $ | 64 | $ | 19.3 | $ | 39.5 | $ | (58.8 | ) | $ | 64 | ||||||||||||||||
Other comprehensive loss | (0.1 | ) | (2.8 | ) | (3.4 | ) | 6.2 | (0.1 | ) | Other comprehensive loss | (50.6 | ) | (6.3 | ) | (14.3 | ) | 20.6 | (50.6 | ) | |||||||||||||||||||||||
Total comprehensive loss | $ | (10.1 | ) | $ | (39.1 | ) | $ | (21.6 | ) | $ | 60.7 | $ | (10.1 | ) | Total comprehensive income | $ | 13.4 | $ | 13 | $ | 25.2 | $ | (38.2 | ) | $ | 13.4 | ||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||||||||||||||
For the Nine Months ended September 30, 2013 | For the Year Ended December 31, 2010 | |||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||
Net Sales | $ | 713.5 | $ | 63.6 | $ | 390.6 | $ | (146.3 | ) | $ | 1,021.40 | Net sales | $ | 854.2 | $ | 69.4 | $ | 546.1 | $ | (148.3 | ) | $ | 1,321.40 | |||||||||||||||||||
Cost of sales | 325.5 | 30.2 | 156.1 | (146.3 | ) | 365.5 | Cost of sales | 367.8 | 32 | 203.8 | (148.3 | ) | 455.3 | |||||||||||||||||||||||||||||
Gross profit | 388 | 33.4 | 234.5 | — | 655.9 | Gross profit | 486.4 | 37.4 | 342.3 | — | 866.1 | |||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 318.1 | 28.3 | 153.6 | — | 500 | Selling, general and administrative expenses | 399.6 | 32.5 | 227.2 | — | 659.3 | |||||||||||||||||||||||||||||||
Restructuring charges and other, net | — | 0.3 | 1.5 | — | 1.8 | Restructuring charges | (0.2 | ) | — | (0.1 | ) | — | (0.3 | ) | ||||||||||||||||||||||||||||
Operating income | 69.9 | 4.8 | 79.4 | — | 154.1 | Operating income | 87 | 4.9 | 115.2 | — | 207.1 | |||||||||||||||||||||||||||||||
Other expenses (income), net: | Other expenses, net: | |||||||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.7 | (0.5 | ) | 4.5 | — | 4.7 | Intercompany interest, net | (0.1 | ) | (1.1 | ) | 7.4 | — | 6.2 | ||||||||||||||||||||||||||||
Interest expense | 50.3 | 0.2 | 0.3 | — | 50.8 | Interest expense | 89.9 | 0.3 | 0.3 | — | 90.5 | |||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 2.2 | — | — | — | 2.2 | Amortization of debt issuance costs | 4.5 | — | — | — | 4.5 | |||||||||||||||||||||||||||||||
Loss on early extinguishment of debt | 28.1 | — | — | — | 28.1 | Loss on early extinguishment of debt, net | 9.7 | — | — | — | 9.7 | |||||||||||||||||||||||||||||||
Foreign currency losses, net | 2.5 | 0.4 | — | — | 2.9 | Foreign currency (gains) losses, net | (4.6 | ) | (0.3 | ) | 11.2 | — | 6.3 | |||||||||||||||||||||||||||||
Miscellaneous, net | (49.4 | ) | 5.2 | 44.7 | — | 0.5 | Miscellaneous, net | (46.9 | ) | 2.9 | 45.2 | — | 1.2 | |||||||||||||||||||||||||||||
Other expenses, net | 34.4 | 5.3 | 49.5 | — | 89.2 | Other expenses, net | 52.5 | 1.8 | 64.1 | — | 118.4 | |||||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | 35.5 | (0.5 | ) | 29.9 | — | 64.9 | Income from continuing operations before income taxes | 34.5 | 3.1 | 51.1 | — | 88.7 | ||||||||||||||||||||||||||||||
Provision for (benefit from) income taxes | 27.3 | (2.0 | ) | 7.1 | — | 32.4 | (Benefit from) provision for income taxes | (255.8 | ) | 4.1 | 16.4 | — | (235.3 | ) | ||||||||||||||||||||||||||||
Income from continuing operations | 8.2 | 1.5 | 22.8 | — | 32.5 | Income (loss) from continuing operations, net of taxes | 290.3 | (1.0 | ) | 34.7 | — | 324 | ||||||||||||||||||||||||||||||
Income from discontinued operations, net of taxes | 0.3 | — | — | — | 0.3 | Income from discontinued operations, net of taxes | 0.3 | — | — | — | 0.3 | |||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 24.3 | 19.7 | — | (44.0 | ) | — | Equity in income of subsidiaries | 33.7 | 18.5 | — | (52.2 | ) | — | |||||||||||||||||||||||||||||
Net income | $ | 32.8 | $ | 21.2 | $ | 22.8 | $ | (44.0 | ) | $ | 32.8 | Net income | $ | 324.3 | $ | 17.5 | $ | 34.7 | $ | (52.2 | ) | $ | 324.3 | |||||||||||||||||||
Other comprehensive income | 2.2 | 9.8 | 4 | (13.8 | ) | 2.2 | Other comprehensive income (loss) | 7.6 | (7.9 | ) | (7.7 | ) | 15.6 | 7.6 | ||||||||||||||||||||||||||||
Total comprehensive income | $ | 35 | $ | 31 | $ | 26.8 | $ | (57.8 | ) | $ | 35 | Total comprehensive income | $ | 331.9 | $ | 9.6 | $ | 27 | $ | (36.6 | ) | $ | 331.9 | |||||||||||||||||||
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) | ||||||||||||||||||||||||||||||||||||||||||
For the Nine Months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||
Net Sales | $ | 680.7 | $ | 83 | $ | 417.5 | $ | (146.4 | ) | $ | 1,034.80 | |||||||||||||||||||||||||||||||
Cost of sales | 309.4 | 38.1 | 166 | (146.4 | ) | 367.1 | ||||||||||||||||||||||||||||||||||||
Gross profit | 371.3 | 44.9 | 251.5 | — | 667.7 | |||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 303.1 | 35 | 186.3 | — | 524.4 | |||||||||||||||||||||||||||||||||||||
Restructuring charges and other, net | 1.2 | 0.5 | 19.3 | — | 21 | |||||||||||||||||||||||||||||||||||||
Operating income | 67 | 9.4 | 45.9 | — | 122.3 | |||||||||||||||||||||||||||||||||||||
Other expenses (income), net: | ||||||||||||||||||||||||||||||||||||||||||
Intercompany interest, net | 0.7 | (0.7 | ) | 4.6 | — | 4.6 | ||||||||||||||||||||||||||||||||||||
Interest expense | 58.9 | 0.3 | 0.3 | — | 59.5 | |||||||||||||||||||||||||||||||||||||
Amortization of debt issuance costs | 2.6 | — | — | — | 2.6 | |||||||||||||||||||||||||||||||||||||
Foreign currency (gains) losses, net | (1.0 | ) | 0.3 | 2.7 | — | 2 | ||||||||||||||||||||||||||||||||||||
Miscellaneous, net | (60.3 | ) | 7.5 | 53.2 | — | 0.4 | ||||||||||||||||||||||||||||||||||||
Other expenses, net | 0.9 | 7.4 | 60.8 | — | 69.1 | |||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | 66.1 | 2 | (14.9 | ) | — | 53.2 | ||||||||||||||||||||||||||||||||||||
Provision for income taxes | 21.9 | 5.1 | 6.1 | — | 33.1 | |||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | 44.2 | (3.1 | ) | (21.0 | ) | — | 20.1 | |||||||||||||||||||||||||||||||||||
Income from discontinued operations, net of taxes | 0.4 | — | — | — | 0.4 | |||||||||||||||||||||||||||||||||||||
Equity in loss of subsidiaries | (24.1 | ) | (25.7 | ) | — | 49.8 | — | |||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 20.5 | $ | (28.8 | ) | $ | (21.0 | ) | $ | 49.8 | $ | 20.5 | ||||||||||||||||||||||||||||||
Other comprehensive income | 7.8 | 2.7 | 1.9 | (4.6 | ) | 7.8 | ||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) | $ | 28.3 | $ | (26.1 | ) | $ | (19.1 | ) | $ | 45.2 | $ | 28.3 | ||||||||||||||||||||||||||||||
Consolidating Condensed Statement of Cash Flow | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Corporation | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 38.4 | $ | 0.7 | $ | (33.3 | ) | $ | — | $ | 5.8 | Net cash provided by operating activities | $ | 21.3 | $ | 64.9 | $ | 17.9 | $ | — | $ | 104.1 | ||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||||||||||||||||||||||
Capital expenditures | (15.5 | ) | (0.5 | ) | (1.9 | ) | — | (17.9 | ) | Capital expenditures | (18.1 | ) | (0.4 | ) | (2.4 | ) | — | (20.9 | ) | |||||||||||||||||||||||
Insurance proceeds for property, plant and equipment | — | — | 13.1 | — | 13.1 | Business acquisition | — | (66.2 | ) | — | — | (66.2 | ) | |||||||||||||||||||||||||||||
Proceeds from the sale of certain assets | 0.3 | — | 3.1 | — | 3.4 | Proceeds from sales of certain assets | 0.1 | 0.4 | 0.3 | — | 0.8 | |||||||||||||||||||||||||||||||
Net cash (used in) provided by investing activities | (15.2 | ) | (0.5 | ) | 14.3 | — | (1.4 | ) | Net cash used in investing activities | (18.0 | ) | (66.2 | ) | (2.1 | ) | — | (86.3 | ) | ||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in short-term borrowings and overdraft | (1.4 | ) | (0.1 | ) | 1.7 | — | 0.2 | Net increase (decrease) in short-term borrowings and overdraft | 7.4 | 1.2 | (2.3 | ) | — | 6.3 | ||||||||||||||||||||||||||||
Proceeds from the issuance of the 5 3/4% Senior Notes | 500 | — | — | — | 500 | Repayments under the 2011 Term Loan Facility | (8.0 | ) | — | — | — | (8.0 | ) | |||||||||||||||||||||||||||||
Repayment of the 9 3/4% Senior Secured Notes | (330.0 | ) | — | — | — | (330.0 | ) | Payment of financing costs | (0.4 | ) | — | — | — | (0.4 | ) | |||||||||||||||||||||||||||
Repayment under the 2011 Term Loan Facility | (113.0 | ) | — | — | — | (113.0 | ) | Other financing activities | (0.9 | ) | — | (0.4 | ) | — | (1.3 | ) | ||||||||||||||||||||||||||
Payment of financing costs | (32.7 | ) | — | — | — | (32.7 | ) | |||||||||||||||||||||||||||||||||||
Other financing activities | (1.5 | ) | — | (0.3 | ) | — | (1.8 | ) | Net cash (used in) provided by financing activities | (1.9 | ) | 1.2 | (2.7 | ) | — | (3.4 | ) | |||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 21.4 | (0.1 | ) | 1.4 | — | 22.7 | Effect of exchange rate changes on cash and cash equivalents | — | — | 0.2 | — | 0.2 | ||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | (4.1 | ) | — | (4.1 | ) | Net increase (decrease) in cash and cash equivalents | 1.4 | (0.1 | ) | 13.3 | — | 14.6 | ||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 57.7 | 0.1 | 43.9 | — | 101.7 | |||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 44.6 | 0.1 | (21.7 | ) | — | 23 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 59.1 | — | 57.2 | — | 116.3 | Cash and cash equivalents at end of period | $ | 59.1 | $ | — | $ | 57.2 | $ | — | $ | 116.3 | ||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 103.7 | $ | 0.1 | $ | 35.5 | $ | — | $ | 139.3 | ||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non-Guarantor | Eliminations | Consolidated | CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | Net cash provided by (used in) operating activities | $ | 58.2 | $ | 37.4 | $ | (7.6 | ) | $ | — | $ | 88 | ||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (37.9 | ) | $ | 63.7 | $ | (7.9 | ) | $ | — | $ | 17.9 | CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||||||||||
Capital expenditures | (11.7 | ) | (0.4 | ) | (1.8 | ) | — | (13.9 | ) | |||||||||||||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | Business acquisition | — | (39.0 | ) | — | — | (39.0 | ) | ||||||||||||||||||||||||||||||||||
Capital expenditures | (13.0 | ) | (0.3 | ) | (1.5 | ) | — | (14.8 | ) | Proceeds from sales of certain assets | 0.1 | — | 0.2 | — | 0.3 | |||||||||||||||||||||||||||
Business Acquisition | — | (66.2 | ) | — | (66.2 | ) | ||||||||||||||||||||||||||||||||||||
Proceeds from the sale of certain assets | 0.1 | 0.4 | 0.1 | — | 0.6 | Net cash used in investing activities | (11.6 | ) | (39.4 | ) | (1.6 | ) | — | (52.6 | ) | |||||||||||||||||||||||||||
Net cash used in investing activities | (12.9 | ) | (66.1 | ) | (1.4 | ) | — | (80.4 | ) | CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||
Net increase in short-term borrowings and overdraft | (2.5 | ) | 2 | 0.7 | — | 0.2 | ||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | Repayments under the 2010 Term Loan Facility | (794.0 | ) | — | — | — | (794.0 | ) | ||||||||||||||||||||||||||||||||||
Net increase in short-term borrowings and overdraft | 10 | 2.3 | 0.2 | — | 12.5 | Borrowings under the 2011 Term Loan Facility | 796 | — | — | — | 796 | |||||||||||||||||||||||||||||||
Repayments under the 2011 Term Loan Facility | (6.0 | ) | — | — | — | (6.0 | ) | Repayments under the 2011 Term Loan Facility | (4.0 | ) | — | — | — | (4.0 | ) | |||||||||||||||||||||||||||
Payment of financing costs | (0.1 | ) | — | — | — | (0.1 | ) | Payment of financing costs | (4.3 | ) | — | — | — | (4.3 | ) | |||||||||||||||||||||||||||
Other financing activities | (0.5 | ) | — | (0.2 | ) | — | (0.7 | ) | Other financing activities | (0.6 | ) | — | (0.8 | ) | — | (1.4 | ) | |||||||||||||||||||||||||
Net cash provided by financing activities | 3.4 | 2.3 | — | — | 5.7 | Net cash (used in) provided by financing activities | (9.4 | ) | 2 | (0.1 | ) | — | (7.5 | ) | ||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | 0.3 | — | 0.3 | Effect of exchange rate changes on cash and cash equivalents | — | — | (2.9 | ) | — | (2.9 | ) | |||||||||||||||||||||||||||||
Net decrease in cash and cash equivalents | (47.4 | ) | (0.1 | ) | (9.0 | ) | — | (56.5 | ) | Net increase (decrease) in cash and cash equivalents | 37.2 | — | (12.2 | ) | — | 25 | ||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 57.7 | 0.1 | 43.9 | — | 101.7 | Cash and cash equivalents at beginning of period | 20.5 | 0.1 | 56.1 | — | 76.7 | |||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 10.3 | $ | — | $ | 34.9 | $ | — | $ | 45.2 | Cash and cash equivalents at end of period | $ | 57.7 | $ | 0.1 | $ | 43.9 | $ | — | $ | 101.7 | |||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||||||||||||||||||||
For the Year Ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||
Products | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Corporation | Subsidiaries | Guarantor | ||||||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 70.8 | $ | (0.9 | ) | $ | 26.8 | $ | — | $ | 96.7 | |||||||||||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | (13.7 | ) | (0.1 | ) | (1.4 | ) | — | (15.2 | ) | |||||||||||||||||||||||||||||||||
Proceeds from sales of certain assets | — | — | 0.3 | — | 0.3 | |||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | (13.7 | ) | (0.1 | ) | (1.1 | ) | — | (14.9 | ) | |||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in short-term borrowings and overdraft | (12.8 | ) | 0.7 | 1.5 | — | (10.6 | ) | |||||||||||||||||||||||||||||||||||
Repayments under the 2006 Term Loan Facility | (815.0 | ) | — | — | — | (815.0 | ) | |||||||||||||||||||||||||||||||||||
Borrowings under the 2010 Term Loan Facility | 786 | — | — | — | 786 | |||||||||||||||||||||||||||||||||||||
Repayments under the 2010 Term Loan Facility | (6.0 | ) | — | — | — | (6.0 | ) | |||||||||||||||||||||||||||||||||||
Payment of financing costs | (17.0 | ) | — | — | — | (17.0 | ) | |||||||||||||||||||||||||||||||||||
Other financing activities | 0.8 | — | (0.5 | ) | — | 0.3 | ||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by financing activities | (64.0 | ) | 0.7 | 1 | — | (62.3 | ) | |||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | 2.7 | — | 2.7 | |||||||||||||||||||||||||||||||||||||
Net (decrease) increase in cash and cash equivalents | (6.9 | ) | (0.3 | ) | 29.4 | — | 22.2 | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 27.4 | 0.4 | 26.7 | — | 54.5 | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 20.5 | $ | 0.1 | $ | 56.1 | $ | — | $ | 76.7 | ||||||||||||||||||||||||||||||||
DESCRIPTION_OF_BUSINESS_AND_BA1
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Schedule of Insurance Recoveries | ' | ||||||||||||
The table below details the proceeds received and the income recognized to date for the inventory and business interruption and property claims: | |||||||||||||
Inventory | Business | Total | |||||||||||
Interruption | |||||||||||||
and | |||||||||||||
Property | |||||||||||||
Insurance proceeds received in 2011 | $ | 4.7 | $ | 15 | $ | 19.7 | |||||||
Insurance proceeds received in 2012 | 3.7 | 2.9 | 6.6 | ||||||||||
Total proceeds received as of December 31, 2012 | 8.4 | 17.9 | 26.3 | ||||||||||
Income from insurance recoveries recognized in | (3.5 | ) | (13.9 | ) | (17.4 | ) | |||||||
2011 and 2012(a) | |||||||||||||
Deferred income balance as of December 31, 2012 | 4.9 | 4 | 8.9 | ||||||||||
Insurance proceeds received in 2013 | 3.4 | 14.1 | 17.5 | ||||||||||
Gain from insurance proceeds for the nine months ended September 30, 2013(a) | (8.3 | ) | (18.1 | ) | (26.4 | ) | |||||||
Deferred income balance as of September 30, 2013 | $ | — | $ | — | $ | — | |||||||
(a) | The gain from insurance proceeds and income from insurance recoveries is included within selling, general and administrative (“SG&A”) expenses in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) in the respective periods. |
Recovered_Sheet1
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Feb. 13, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Jan. 08, 2010 | Jan. 08, 2010 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2012 | |
Segment | Customer | Customer | Customer Relationships [Member] | Trademark And Patent [Member] | Minimum [Member] | Maximum [Member] | Land Improvements [Member] | Building [Member] | Building [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Computer Software, Intangible Asset [Member] | Computer Software, Intangible Asset [Member] | Wall Display [Member] | Wall Display [Member] | Wall Display [Member] | Wall Display [Member] | Wall Display [Member] | ||||
Unit | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||
Segment | ||||||||||||||||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term money market instruments with original maturities | ' | ' | 'Three months or less | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash equivalents carrying value | ' | ' | $3,400,000 | $4,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable outstanding | ' | ' | 8,300,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of aggregated outstanding account receivable | ' | ' | 31.00% | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of customer | ' | ' | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property plant and equipment, Estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | '20 years | '45 years | '3 years | '10 years | '3 years | '15 years | '2 years | '5 years | ' | ' | ' | '1 year | '3 years |
Property, plant and equipment, net | 102,700,000 | ' | 99,500,000 | 98,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,800,000 | 53,500,000 | ' | ' | ' |
Depreciation and amortization | 51,500,000 | 48,400,000 | 65,000,000 | 60,800,000 | 57,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,000,000 | 35,200,000 | 35,200,000 | ' | ' |
Unamortized Debt Issuance Costs | ' | ' | 17,000,000 | 23,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segment | 1 | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable unit | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average period of intangible assets | ' | ' | ' | ' | ' | ' | '18 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising expenses | ' | ' | 269,400,000 | 271,400,000 | 265,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution costs | ' | ' | 62,100,000 | 60,900,000 | 58,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development expenditures | ' | ' | 24,200,000 | 23,800,000 | 24,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bolivars official exchange rate | 6.3 | ' | 5.5 | 5.5 | 4.3 | 6.3 | ' | ' | 2.15 | 4.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in net sales from devaluation | -1,500,000 | ' | ' | ' | -33,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease In Operating Income From Devaluation | -500,000 | ' | ' | ' | -8,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency loss | -600,000 | ' | ' | -1,700,000 | -2,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum amount accessed through SITME per day | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum amount accessed through SITME per month | ' | ' | $350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total number of preferred stock | 1,000 | ' | 1,000 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares outstanding | 546 | ' | 546 | 546 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock Liquidation Preference | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price per share | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Hedge Maturity Period | ' | ' | 'less than one year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet2
Description of Business and Basis of Presentation - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 18 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 18 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 18 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Jun. 30, 2013 | Feb. 13, 2013 | Jan. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Jul. 31, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Jun. 04, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||
Inventory Insurance [Member] | Inventory Insurance [Member] | Inventory Insurance [Member] | Inventory Insurance [Member] | Inventory Insurance [Member] | Inventory Insurance [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | Revlon Venezuela [Member] | Revlon Venezuela [Member] | Revlon Venezuela [Member] | Revlon Venezuela [Member] | ||||||||||||||||
Description Of Business And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Percentage of consolidated net sales earned from subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | 3.00% | ||||||
Percentage of total assets held by subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | 3.00% | ||||||
Percentage of subsidiary's net sales earned from imported products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | 50.00% | ||||||
Percentage of subsidiary's net sales earned from locally manufactured products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | 50.00% | ||||||
Business interruption losses | ' | ' | ' | $2.80 | $9.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Impairment loss related to net book value of assets destroyed by the fire | ' | 4.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Cumulative Impairment and Business Interruption Losses related to fire damage | ' | ' | ' | ' | 14.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Unusual or Infrequent Item, Insurance Proceeds | 26.3 | ' | 17.5 | 6.6 | 19.7 | ' | 26.3 | ' | ' | 3.4 | ' | 3.4 | 3.7 | 4.7 | 8.4 | 14.1 | ' | 14.1 | 2.9 | 15 | 17.9 | ' | ' | ' | ' | ||||||
Insurance recoveries | ' | ' | 26.4 | [1] | 2.8 | 14.6 | ' | 17.4 | [1] | ' | ' | ' | 8.3 | 8.3 | [1] | ' | ' | 3.5 | [1] | ' | 18.1 | 18.1 | [1] | ' | ' | 13.9 | [1] | ' | ' | ' | ' |
Deferred insurance income | 8.9 | ' | 0 | 8.9 | 5.1 | ' | 8.9 | ' | ' | ' | ' | 0 | 4.9 | ' | 4.9 | ' | ' | 0 | 4 | ' | 4 | ' | ' | ' | ' | ||||||
Inventory insurance settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Business interruption and property insurance settlement | ' | ' | ' | ' | ' | ' | ' | 32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Demolition Costs | ' | ' | 4.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Bolivars exchange rate | 5.5 | ' | 6.3 | 5.5 | 5.5 | 4.3 | 5.5 | ' | 6.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Decrease in net sales from devaluation | ' | ' | -1.5 | ' | ' | -33.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Decrease In Operating Income From Devaluation | ' | ' | -0.5 | ' | ' | -8.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Venezuela devaluation foreign currency loss | ' | ' | ($0.60) | ' | ($1.70) | ($2.80) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
[1] | The gain from insurance proceeds and income from insurance recoveries is included within selling, general and administrative ("SG&A") expenses in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) in the respective periods. |
Business_Acquisition_Additiona
Business Acquisition - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jul. 02, 2012 | Mar. 17, 2011 |
In Millions, unless otherwise specified | Pure Ice Acquisition [Member] | SinfulColors Acquisition [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' |
Cash purchase price | ' | ' | ' | ' | $66.20 | $39 |
Amount of Acquisition Purchase Price from Cash in Hand | ' | ' | ' | ' | 45 | ' |
Amount of Acquisition Purchase Price from Revolving Credit Facility | ' | ' | ' | ' | 21.2 | ' |
Outstanding undrawn letters of credit | ' | 10.4 | ' | ' | ' | ' |
Purchase price | ' | ' | ' | ' | ' | 38 |
Working Capital adjustment | ' | ' | ' | ' | ' | 1 |
Intangible assets acquired | ' | ' | ' | ' | 43.1 | 22.8 |
Goodwill acquired | $217.90 | $217.80 | $194.70 | $182.70 | $23.10 | $12.10 |
Business_Acquisitions_Summary_
Business Acquisitions - Summary of Purchase Price Allocation (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jul. 02, 2012 |
In Millions, unless otherwise specified | Pure Ice Acquisition [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Intangible assets | ' | ' | ' | ' | $43.10 |
Goodwill | 217.9 | 217.8 | 194.7 | 182.7 | 23.1 |
Total consideration | ' | ' | ' | ' | $66.20 |
Business_Acquisitions_Intangib
Business Acquisitions - Intangible Assets Acquired by Major Asset Category (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 1 Months Ended | |||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 02, 2012 | Jul. 02, 2012 | Jul. 02, 2012 | Mar. 17, 2011 | Mar. 17, 2011 | Mar. 17, 2011 |
Customer Relationships [Member] | Customer Relationships [Member] | Trademarks and Trade Names [Member] | Trademarks and Trade Names [Member] | Pure Ice Acquisition [Member] | Pure Ice Acquisition [Member] | Pure Ice Acquisition [Member] | SinfulColors Acquisition [Member] | SinfulColors Acquisition [Member] | SinfulColors Acquisition [Member] | |
Customer Relationships [Member] | Trademarks and Trade Names [Member] | Customer Relationships [Member] | Trademarks and Trade Names [Member] | |||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Values of Acquired Intangible Assets | ' | ' | ' | ' | $43.10 | $33.30 | $9.80 | $22.80 | $15.50 | $7.30 |
Weighted Average Useful Life of Acquired Intangible Assets (in years) | '18 years | '14 years | '10 years | '10 years | ' | '19 years | '10 years | ' | '14 years | '10 years |
Business_Acquisitions_Fair_Val
Business Acquisitions - Fair Value Of Net Asset Acquired (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 17, 2011 |
In Millions, unless otherwise specified | SinfulColors Acquisition [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Trade receivables | ' | ' | ' | ' | $2.70 |
Inventories | ' | ' | ' | ' | 3.3 |
Property, plant and equipment, net | ' | ' | ' | ' | 0.4 |
Intangible assets | ' | ' | ' | ' | 22.8 |
Accounts payable | ' | ' | ' | ' | -0.9 |
Accrued expenses and other | ' | ' | ' | ' | -1.4 |
Fair value of net assets acquired | ' | ' | ' | ' | 26.9 |
Goodwill | 217.9 | 217.8 | 194.7 | 182.7 | 12.1 |
Total consideration | ' | ' | ' | ' | $39 |
Restructuring_Charges_Addition
Restructuring Charges - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2010 | Jul. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |||||||||
Employee Severance [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2009 Restructuring Programs [Member] | |||||||||||||||||
Company Restructuring Plan For Year Two [Member] | Employee Severance [Member] | Employee Severance [Member] | Sales to Returns [Member] | Sales to Returns [Member] | Cost of Sales [Member] | Cost of Sales [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Pension Curtailment Gain [Member] | ||||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Restructuring charges and other, net | ($1.50) | $21 | $1.80 | $21 | $20.70 | $0 | ($0.30) | ($0.20) | ' | ' | $24.10 | $2.20 | $24.10 | $25 | $2.60 | [1] | $18.40 | [2] | $0 | [3] | $1.60 | [3] | $0.20 | [4] | $1.20 | [4] | $0.20 | [5] | $0.60 | [5] | $1.50 | ' | |
Additional charges expected to recognize in 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Settlement of restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24 | ' | 24 | 24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | |||||||||
Cash paid for restructuring charges during the period | ' | ' | 16.1 | ' | 3.6 | 1.6 | 7.3 | 6.7 | ' | ' | ' | 13.3 | 3.8 | ' | 13.5 | 2.3 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Gain (Loss) on Sale of Property Plant Equipment | ' | ' | -2.5 | ' | ' | ' | ' | ' | 2.5 | 2.5 | ' | -2.5 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Restructuring Payments Expected In Remainder Of Current Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Proceeds from Sale of Property, Plant, and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
[1] | During the nine months ended September 30, 2013, the Company recorded additional charges related to the September 2012 Program primarily due to changes in estimates related to severance and other termination benefits, partially offset by a $2.5 million gain on the July 2013 sale of the Company's manufacturing facility in France. | ||||||||||||||||||||||||||||||||
[2] | Included within the $18.4 million of employee severance and other personnel benefits is a net pension curtailment gain of $1.5 million recognized in the year ended December 31, 2012. | ||||||||||||||||||||||||||||||||
[3] | Returns are recorded as a reduction to net sales in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss). | ||||||||||||||||||||||||||||||||
[4] | Inventory write-offs are recorded within cost of sales in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss). | ||||||||||||||||||||||||||||||||
[5] | Other charges are recorded within SG&A expenses within the Company's Consolidated Statements of Operations and Comprehensive Income (Loss). |
Restructuring_Charges_Restruct
Restructuring Charges - Restructuring Activity (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | ||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jul. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | |||||||
2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | Employee Severance [Member] | Employee Severance [Member] | Employee Severance [Member] | Employee Severance [Member] | Employee Severance [Member] | Employee Severance [Member] | Other Restructuring Costs [Member] | Other Restructuring Costs [Member] | Lease And Exit Costs [Member] | Lease And Exit Costs [Member] | Lease And Exit Costs [Member] | Lease And Exit Costs [Member] | Restructuring [Member] | |||||||||||||||
Restructuring Charges [Member] | Restructuring Charges [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | Two Thousand And Nine Restructuring Plan [Member] | Two Thousand And Nine Restructuring Plan [Member] | Fiscal Two Thousand Eight Restructuring Plan [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | ||||||||||||||||||||||||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Gain (Loss) on Disposition of Property Plant Equipment | ' | ' | ($2.50) | ' | ' | ' | ' | $2.50 | $2.50 | ' | ($2.50) | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Restructuring charges prior to gain on sale of facility | ' | ' | 4.3 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.7 | [1] | |||||
Restructuring Cost, Beginning Balance | ' | ' | 19.2 | 1 | 1 | 2.6 | 10.2 | ' | ' | ' | ' | ' | ' | ' | 7.9 | 18 | ' | 1 | 7.6 | 0.3 | 0.9 | ' | 1 | 1.6 | 2.3 | 0.3 | ' | |||||||
(Income) expense, net | -1.5 | 21 | 1.8 | 21 | 20.7 | 0 | -0.3 | ' | ' | 24.1 | 2.2 | 24.1 | 1.8 | [1] | 20.7 | -0.2 | 2.6 | [1] | 18.4 | [2] | ' | -0.2 | ' | -0.8 | [3] | 2.3 | ' | ' | -0.1 | ' | ' | |||
Restructuring reserve, translation adjustment | ' | ' | -0.2 | ' | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | 0.4 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | |||||||
Cash utilized, net | ' | ' | -16.1 | ' | -3.6 | -1.6 | -7.3 | ' | ' | ' | -13.3 | -3.8 | ' | ' | -6.7 | -13.5 | -2.3 | -1 | -6.4 | -0.3 | -2.3 | -0.6 | -0.7 | -0.6 | -0.6 | -0.3 | ' | |||||||
Non Utilized, Net | ' | ' | 0 | ' | 0.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1.5 | ' | ' | ' | 0 | -0.8 | ' | ' | ' | 0 | ' | |||||||
Restructuring cost, ending balance | $7.20 | ' | $7.20 | ' | $19.20 | $1 | $2.60 | ' | ' | ' | ' | ' | ' | ' | $1 | $6.90 | $18 | ' | $1 | ' | $0.30 | $0.90 | $0.30 | $1 | $1.60 | $0 | ' | |||||||
[1] | During the nine months ended September 30, 2013, the Company recorded additional charges related to the September 2012 Program primarily due to changes in estimates related to severance and other termination benefits, partially offset by a $2.5 million gain on the July 2013 sale of the Company's manufacturing facility in France. | |||||||||||||||||||||||||||||||||
[2] | Included within the $18.4 million of employee severance and other personnel benefits is a net pension curtailment gain of $1.5 million recognized in the year ended December 31, 2012. | |||||||||||||||||||||||||||||||||
[3] | Included within the $(0.8) million of other is a $2.5 million gain on the July 2013 sale of the Company's manufacturing facility in France, which was recognized in the third quarter of 2013. |
Inventories_Components_of_Inve
Inventories - Components of Inventories (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Inventory Disclosure [Abstract] | ' | ' | ' |
Raw materials and supplies | $37.80 | $36.60 | $37.90 |
Work-in-process | 12.4 | 8.8 | 8.1 |
Finished goods | 92 | 69.3 | 65 |
Inventories | $142.20 | $114.70 | $111 |
Prepaid_Expenses_and_Other_Com
Prepaid Expenses and Other - Components of Prepaid Expenses and Other (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ' | ' |
Prepaid expenses | ' | $20.70 | $18.20 |
Receivable from Revlon, Inc. | 91 | 75.1 | 64.2 |
Other | ' | 24.7 | 25.2 |
Total prepaid expenses | ' | $120.50 | $107.60 |
Recovered_Sheet3
Property, Plant and Equipment, Net - Components of Property, Plant and Equipment, Net (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and Equipment, Gross | ' | $325.50 | $309.50 |
Accumulated depreciation on property, plant and equipment | -236.4 | -226 | -210.6 |
Property plant and equipment net | 102.7 | 99.5 | 98.9 |
Land and Land Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and Equipment, Gross | ' | 1.9 | 1.9 |
Building and Building Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and Equipment, Gross | ' | 62.3 | 63.1 |
Machinery and Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and Equipment, Gross | ' | 142.7 | 139.7 |
Furniture and Fixtures [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and Equipment, Gross | ' | 87.3 | 82 |
Leasehold Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and Equipment, Gross | ' | 12.5 | 12.3 |
Construction in Progress [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and Equipment, Gross | ' | $18.80 | $10.50 |
Recovered_Sheet4
Property, Plant and Equipment, Net - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Depreciation expense | $22.80 | $21.50 | $19.50 |
Recovered_Sheet5
Goodwill and Intangible Assets, Net - Changes in Balance of Goodwill (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Beginning Balance | $194.70 | $182.70 | $217.90 |
Goodwill acquired | 23.1 | 12.1 | ' |
Foreign currency translation adjustment | ' | -0.1 | ' |
Ending Balance | $217.80 | $194.70 | $217.90 |
Recovered_Sheet6
Goodwill and Intangible Assets, Net - Summary of Total Purchased Intangible Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | Customer Relationships [Member] | Customer Relationships [Member] | Trademarks and Trade Names [Member] | Trademarks and Trade Names [Member] | Patents [Member] | Patents [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross carrying Amount | ' | $98.50 | $54.30 | $48.80 | $15.50 | $38.10 | $27.40 | $11.60 | $11.40 |
Accumulated Amortization | -34.7 | -29.7 | -25.1 | -2.9 | -0.9 | -16.3 | -13.9 | -10.5 | -10.3 |
Net Intangible Assets | ' | $68.80 | $29.20 | $45.90 | $14.60 | $21.80 | $13.50 | $1.10 | $1.10 |
Weighted Average Useful Life (in Years) | ' | ' | ' | '18 years | '14 years | '10 years | '10 years | '10 years | '10 years |
Goodwill_and_Intangible_Asset_
Goodwill and Intangible Asset Net - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortaization Expense | $4.60 | $2.80 | $1.40 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets, Net - Summary Estimated Future Amortization Expense (Detail) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
2013 | $6 | ' |
2014 | 5.8 | ' |
2015 | 5.7 | ' |
2016 | 5.5 | ' |
2017 | 5.4 | ' |
Thereafter | 40.4 | ' |
Total estimated amortization expense | $68.80 | $29.20 |
Accrued_Expenses_and_Other_Com
Accrued Expenses and Other - Components of Accrued Expenses and Other (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Payables and Accruals [Abstract] | ' | ' | ' |
Sales returns and allowances | $69.80 | $87 | $85.40 |
Advertising and promotional costs | 42.7 | 38.6 | 32.2 |
Compensation and related benefits | 40.1 | 56.4 | 52 |
Restructuring charges | 7.2 | 19.2 | 0.6 |
Interest | 7.4 | 13.7 | 15.1 |
Taxes | 17.5 | 15.5 | 15.6 |
Other | 40.1 | 34.3 | 29.1 |
Accrued expenses and other | $224.80 | $264.70 | $230 |
Short_Term_Borrowings_Addition
Short Term Borrowings - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Debt Disclosure [Abstract] | ' | ' | ' |
Short-term borrowings | $6.60 | $5 | $5.90 |
Weighted average interest rate on borrowings | ' | 6.00% | 6.00% |
LongTerm_Debt_Components_of_Lo
Long-Term Debt - Components of Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
In Millions, unless otherwise specified | ||||||
Debt Instrument [Line Items] | ' | ' | ' | |||
Senior Subordinated Term Loan | $107 | ' | ' | |||
Long-term debt, gross | 1,276.80 | 1,215.90 | 1,222 | |||
Less current portion | 0 | [1] | -21.5 | [1],[2] | -8 | [2] |
Current portion of long-term debt - affiliates | -48.6 | [3] | -48.6 | [3] | 0 | |
Long Term Debt And Due To Affiliate Non Current | 1,228.20 | 1,145.80 | 1,214 | |||
Two Thousand Eleven Term Loan [Member] | Amended Term Loan Facility [Member] | ' | ' | ' | |||
Debt Instrument [Line Items] | ' | ' | ' | |||
Term Loan Facility | 669.8 | [1] | 780.9 | [1],[4] | 787.6 | [4] |
2011 Revolving Credit Facility Due 2016 [Member] | ' | ' | ' | |||
Debt Instrument [Line Items] | ' | ' | ' | |||
Revolving Credit Facility | 0 | [5] | 0 | [4],[5] | ' | [4] |
9 3/4% Senior Secured Notes Due 2015 [Member] | ' | ' | ' | |||
Debt Instrument [Line Items] | ' | ' | ' | |||
Senior Secured Notes , net of discounts | 0 | [6] | 328 | [6],[7] | 327.4 | [7] |
Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | ' | ' | ' | |||
Debt Instrument [Line Items] | ' | ' | ' | |||
Senior Subordinated Term Loan | 48.6 | [3] | 48.6 | [3],[8] | ' | [8] |
Senior Subordinated Term Loan Due 2013 [Member] | ' | ' | ' | |||
Debt Instrument [Line Items] | ' | ' | ' | |||
Senior Subordinated Term Loan | ' | ' | [8] | 48.6 | [8] | |
Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | ' | ' | ' | |||
Debt Instrument [Line Items] | ' | ' | ' | |||
Senior Subordinated Term Loan | 58.4 | [3] | 58.4 | [3],[8] | ' | [8] |
Senior Subordinated Term Loan Due 2014 [Member] | ' | ' | ' | |||
Debt Instrument [Line Items] | ' | ' | ' | |||
Senior Subordinated Term Loan | ' | ' | [8] | 58.4 | [8] | |
5 3/4% Senior Notes Due 2021 [Member] | ' | ' | ' | |||
Debt Instrument [Line Items] | ' | ' | ' | |||
Senior Secured Notes , net of discounts | $500 | [6] | $0 | [6] | ' | |
[1] | In February 2013, Products Corporation consummated an amendment (the "February 2013 Term Loan Amendments") to its third amended and restated term loan agreement dated as of May 19, 2011 (as amended, the "2011 Term Loan Agreement" or the "2011 Term Loan Facility") for its 6.5-year term loan due November 19, 2017 (the "2011 Term Loan"). Refer to "Recent Debt Transactions - Term Loan Amendments - (i) February 2013 Term Loan Amendments" below for further discussion. | |||||
[2] | The Company classified $21.5 million of long-term debt as a current liability, which is comprised of the Company's regularly scheduled $2.0 million principal repayment due on March 31, 2013 as well as the required "excess cash flow" payment (as defined under the 2011 Term Loan Agreement) to be made in 2013. (See below under "2011 Credit Agreements"). | |||||
[3] | For detail regarding Products Corporation's Amended and Restated Senior Subordinated Term Loan (the "Amended and Restated Senior Subordinated Term Loan"), consisting of (i) the $58.4 million principal amount which remains owing from Products Corporation to various third parties (the "Non-Contributed Loan"), which matures on October 8, 2014, and (ii) the $48.6 million principal amount which, at September 30, 2013 was due from Products Corporation to Revlon, Inc. (the "Contributed Loan"), and which Products Corporation repaid to Revlon, Inc. at maturity on October 8, 2013, see Note 10, "Long-Term Debt," to the Consolidated Financial Statements in the Company's 2012 Form 10-K. | |||||
[4] | 2011 Credit Agreements 2011 Revolving Credit Facility The following is a summary description of the 2011 Revolving Credit Facility. Unless otherwise indicated, capitalized terms have the meanings given to them in the 2011 Revolving Credit Agreement. This description is subject to a number of qualifications and exceptions which are specified in the 2011 Revolving Credit Agreement. Availability under the 2011 Revolving Credit Facility varies based on a borrowing base that is determined by the value of eligible accounts receivable and eligible inventory in the U.S. and the U.K. and eligible real property and equipment in the U.S. from time to time. In each case subject to borrowing base availability, the 2011 Revolving Credit Facility is available to: (i) Products Corporation in revolving credit loans denominated in U.S. dollars; (ii) Products Corporation in swing line loans denominated in U.S. dollars up to $30.0 million; (iii) Products Corporation in standby and commercial letters of credit denominated in U.S. dollars and other currencies up to $60.0 million; and (iv) Products Corporation and certain of its international subsidiaries designated from time to time in revolving credit loans and bankers' acceptances denominated in U.S. dollars and other currencies. If the value of the eligible assets is not sufficient to support the $140.0 million borrowing base under the 2011 Revolving Credit Facility, Products Corporation will not have full access to the 2011 Revolving Credit Facility. Products Corporation's ability to borrow under the 2011 Revolving Credit Facility is also conditioned upon the satisfaction of certain conditions precedent and Products Corporation's compliance with other covenants in the 2011 Revolving Credit Agreement. Under the 2011 Revolving Credit Facility, borrowings (other than loans in foreign currencies) bear interest, if made as Eurodollar Loans, at the Eurodollar Rate, plus the applicable margin set forth in the grid below and, if made as Alternate Base Rate loans, at the Alternate Base Rate, plus the applicable margin set forth in the grid below: Excess Availability Alternate Base Rate Loans Eurodollar Loans, Eurocurrency Loans or Local Rate Loans Greater than or equal to $92,000,000 1.00 % 2.00 % Less than $92,000,000 but greater than or equal to $46,000,000 1.25 % 2.25 % Less than $46,000,000 1.50 % 2.50 % Local Loans bear interest, if mutually acceptable to Products Corporation and the relevant foreign lenders, at the Local Rate, and otherwise (i) if in foreign currencies or in U.S. dollars at the Eurodollar Rate or the Eurocurrency Rate plus the applicable margin set forth in the grid above or (ii) if in U.S. dollars at the Alternate Base Rate plus the applicable margin set forth in the grid above. Prior to the termination date of the 2011 Revolving Credit Facility, revolving loans are required to be prepaid (without any permanent reduction in commitment) with: (i) the net cash proceeds from sales of Revolving Credit First Lien Collateral by Products Corporation or any of its subsidiary guarantors (other than dispositions in the ordinary course of business and certain other exceptions); and (ii) the net proceeds from the issuance by Products Corporation or any of its subsidiaries of certain additional debt, to the extent there remains any such proceeds after satisfying Products Corporation's repayment obligations under the 2011 Term Loan Facility. Products Corporation pays to the lenders under the 2011 Revolving Credit Facility a commitment fee of 0.375% of the average daily unused portion of the 2011 Revolving Credit Facility, which fee is payable quarterly in arrears. Under the 2011 Revolving Credit Facility, Products Corporation also pays: (i) to foreign lenders, a fronting fee of 0.25% per annum on the aggregate principal amount of specified Local Loans (which fee is retained by foreign lenders out of the portion of the Applicable Margin payable to such foreign lender); (ii) to foreign lenders, an administrative fee of 0.25% per annum on the aggregate principal amount of specified Local Loans; (iii) to the multi-currency lenders, a letter of credit commission equal to the product of (a) the Applicable Margin for revolving credit loans that are Eurodollar Rate loans (adjusted for the term that the letter of credit is outstanding) and (b) the aggregate undrawn face amount of letters of credit; and (iv) to the issuing lender, a letter of credit fronting fee of 0.25% per annum of the aggregate undrawn face amount of letters of credit, which fee is a portion of the Applicable Margin. Under certain circumstances, Products Corporation has the right to request that the 2011 Revolving Credit Facility be increased by up to $60.0 million, provided that the lenders are not committed to provide any such increase. Under certain circumstances, if and when the difference between (i) the borrowing base under the 2011 Revolving Credit Facility and (ii) the amounts outstanding under the 2011 Revolving Credit Facility is less than $20.0 million for a period of two consecutive days or more, and until such difference is equal to or greater than $20.0 million for a period of 30 consecutive business days, the 2011 Revolving Credit Facility requires Products Corporation to maintain a consolidated fixed charge coverage ratio (the ratio of EBITDA minus Capital Expenditures to Cash Interest Expense for such period) of a minimum of 1.0 to 1.0. The 2011 Revolving Credit Facility matures on June 16, 2016; provided, however, it will mature on August 15, 2015, if Products Corporation's 9 3/4% Senior Secured Notes have not been refinanced, redeemed, repurchased, defeased or repaid in full on or before such date. See Note 22, "Subsequent Events - 2013 Senior Notes Refinancing," for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. 2011 Term Loan Facility The following is a summary description of the 2011 Term Loan Facility. Unless otherwise indicated, capitalized terms have the meanings given to them in the 2011 Term Loan Agreement. This description is subject to a number of qualifications and exceptions which are specified in the 2011 Term Loan Agreement. Under the 2011 Term Loan Facility, Eurodollar Loans bear interest at the Eurodollar Rate plus 3.50% per annum (with the Eurodollar Rate not to be less than 1.25%) and Alternate Base Rate loans bear interest at the Alternate Base Rate plus 2.50% (with the Alternate Base Rate not to be less than 2.25%). Prior to the November 2017 termination date of the 2011 Term Loan Facility, on September 30, December 31, March 31 and June 30 of each year, Products Corporation is required to repay $2 million of the principal amount of the term loans outstanding under the 2011 Term Loan Facility on each respective date. In addition, the term loans under the 2011 Term Loan Facility are required to be prepaid with: (i) the net cash proceeds in excess of $10 million for each 12-month period ending on March 31 received during such period from sales of Term Loan First Lien Collateral by Products Corporation or any of its subsidiary guarantors with carryover of unused annual basket amounts up to a maximum of $25 million and with respect to certain specified dispositions, up to an additional $25 million in the aggregate (subject to a reinvestment right for 365 days, or 545 days if Products Corporation has within such 365-day period entered into a legally binding commitment to invest such funds); (ii) the net proceeds from the issuance by Products Corporation or any of its subsidiaries of certain additional debt; and (iii) 50% of Products Corporation's "excess cash flow", commencing with excess cash flow for the 2012 fiscal year payable in the first 100 days of 2013, which prepayments are applied to reduce Products Corporation's future regularly scheduled term loan amortization payments in the direct order of maturities. In addition to its regularly scheduled $2.0 million principal repayment due on March 31, 2013, prior to April 10, 2013, Products Corporation will also be required to repay approximately $19.5 million of indebtedness under the 2011 Term Loan Facility, representing 50% of its 2012 "excess cash flow" (as defined under the 2011 Term Loan Agreement), which repayment would satisfy Products Corporation's future regularly scheduled term loan amortization payments in the direct order of maturities beginning in June 2013 through September 2015. The 2011 Term Loan Facility contains a financial covenant limiting Products Corporation's first lien senior secured leverage ratio (the ratio of Products Corporation's Senior Secured Debt that has a lien on the collateral which secures the 2011 Term Loan Facility that is not junior or subordinated to the liens securing the 2011 Term Loan Facility (excluding debt outstanding under the 2011 Revolving Credit Facility) to EBITDA), to no more than 4.0 to 1.0 for each period of four consecutive fiscal quarters through the November 2017 maturity date of the 2011 Term Loan Facility. Under certain circumstances, Products Corporation has the right to request the 2011 Term Loan Facility to be increased by up to $300 million, provided that the lenders are not committed to provide any such increase. The 2011 Term Loan Facility matures on November 19, 2017; provided, however, it will mature on August 15, 2015, if Products Corporation's 9 3/4% Senior Secured Notes have not been refinanced, redeemed, repurchased, defeased or repaid in full on or before such date. See Note 22, "Subsequent Events - 2013 Senior Notes Refinancing," for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. Provisions Applicable to the 2011 Revolving Credit Facility and the 2011 Term Loan Facility The 2011 Revolving Credit Facility and 2011 Term Loan Facility (herein referred to as the "2011 Credit Facilities") are supported by, among other things, guarantees from Revlon, Inc. and, subject to certain limited exceptions, Products Corporation's domestic subsidiaries. The obligations of Products Corporation under the 2011 Credit Facilities and the obligations under such guarantees are secured by, subject to certain limited exceptions, substantially all of the assets of Products Corporation and the guarantors, including: (i) a mortgage on owned real property, including Products Corporation's facility in Oxford, North Carolina; (ii) the capital stock of Products Corporation and the subsidiary guarantors and 66% of the voting capital stock and 100% of the non-voting capital stock of Products Corporation's and the subsidiary guarantors' first-tier, non-U.S. subsidiaries; (iii) intellectual property and other intangible property of Products Corporation and the subsidiary guarantors; and (iv) inventory, accounts receivable, equipment, investment property and deposit accounts of Products Corporation and the subsidiary guarantors. The liens on, among other things, inventory, accounts receivable, deposit accounts, investment property (other than the capital stock of Products Corporation and its subsidiaries), real property, equipment, fixtures and certain intangible property (the ''Revolving Credit First Lien Collateral'') secure the 2011 Revolving Credit Facility on a first priority basis, the 2011 Term Loan Facility on a second priority basis and Products Corporation's 9 3/4% Senior Secured Notes and the related guarantees on a third priority basis. The liens on the capital stock of Products Corporation and its subsidiaries and intellectual property and certain other intangible property (the ''Term Loan First Lien Collateral'') secure the 2011 Term Loan Facility on a first priority basis and the 2011 Revolving Credit Facility and the 9 3/4% Senior Secured Notes and the related guarantees on a second priority basis. Such arrangements are set forth in the Third Amended and Restated Intercreditor and Collateral Agency Agreement, dated as of March 11, 2010, by and among Products Corporation and CUSA, as administrative agent and as collateral agent for the benefit of the secured parties for the 2011 Term Loan Facility, 2011 Revolving Credit Facility and the 9 3/4% Senior Secured Notes (the ''2010 Intercreditor Agreement''). The 2010 Intercreditor Agreement also provides that the liens referred to above may be shared from time to time, subject to certain limitations, with specified types of other obligations incurred or guaranteed by Products Corporation, such as foreign exchange and interest rate hedging obligations and foreign working capital lines. The 2011 Credit Facilities contain various restrictive covenants prohibiting Products Corporation and its subsidiaries from: (i) incurring additional indebtedness or guarantees, with certain exceptions; (ii) making dividend and other payments or loans to Revlon, Inc. or other affiliates, with certain exceptions, including among others: (a) exceptions permitting Products Corporation to pay dividends or make other payments to Revlon, Inc. to enable it to, among other things, pay expenses incidental to being a public holding company, including, among other things, professional fees such as legal, accounting and insurance fees, regulatory fees, such as SEC filing fees and NYSE listing fees, and other expenses related to being a public holding company; (b) subject to certain circumstances, to finance the purchase by Revlon, Inc. of its Class A Common Stock in connection with the delivery of such Class A Common Stock to grantees under the Third Amended and Restated Revlon, Inc. Stock Plan and/or the payment of withholding taxes in connection with the vesting of restricted stock awards under such plan; (c) subject to certain limitations, to pay dividends or make other payments to finance the purchase, redemption or other retirement for value by Revlon, Inc. of stock or other equity interests or equivalents in Revlon, Inc. held by any current or former director, employee or consultant in his or her capacity as such; and (d) subject to certain limitations, to make other restricted payments to affiliates of Products Corporation in an amount up to $10 million per year (plus $10 million for each calendar year commencing with 2011), other restricted payments in an aggregate amount not to exceed $35 million and other restricted payments based upon certain financial tests. (iii) creating liens or other encumbrances on Products Corporation's or its subsidiaries' assets or revenues, granting negative pledges or selling or transferring any of Products Corporation's or its subsidiaries' assets, all subject to certain limited exceptions; (iv) with certain exceptions, engaging in merger or acquisition transactions; (v) prepaying indebtedness and modifying the terms of certain indebtedness and specified material contractual obligations, subject to certain exceptions; (vi) making investments, subject to certain exceptions; and (vii) entering into transactions with affiliates of Products Corporation involving aggregate payments or consideration in excess of $10 million other than upon terms that are not materially less favorable when taken as a whole to Products Corporation or its subsidiaries as terms that would be obtainable at the time for a comparable transaction or series of similar transactions in arm's length dealings with an unrelated third person and where such payments or consideration exceed $20 million, unless such transaction has been approved by all of the independent directors of Products Corporation, subject to certain exceptions. The events of default under the 2011 Credit Facilities include customary events of default for such types of agreements, including, among others: (i) nonpayment of any principal, interest or other fees when due, subject in the case of interest and fees to a grace period; (ii) non-compliance with the covenants in such 2011 Credit Facilities or the ancillary security documents, subject in certain instances to grace periods; (iii) the institution of any bankruptcy, insolvency or similar proceedings by or against Products Corporation, any of Products Corporation's subsidiaries or Revlon, Inc., subject in certain instances to grace periods; (iv) default by Revlon, Inc. or any of its subsidiaries (A) in the payment of certain indebtedness when due (whether at maturity or by acceleration) in excess of $25.0 million in aggregate principal amount or (B) in the observance or performance of any other agreement or condition relating to such debt, provided that the amount of debt involved is in excess of $25.0 million in aggregate principal amount, or the occurrence of any other event, the effect of which default referred to in this subclause (iv) is to cause or permit the holders of such debt to cause the acceleration of payment of such debt; (v) in the case of the 2011 Term Loan Facility, a cross default under the 2011 Revolving Credit Facility, and in the case of the 2011 Revolving Credit Facility, a cross default under the 2011 Term Loan Facility; (vi) the failure by Products Corporation, certain of Products Corporation's subsidiaries or Revlon, Inc. to pay certain material judgments; (vii) a change of control such that (A) Revlon, Inc. shall cease to be the beneficial and record owner of 100% of Products Corporation's capital stock, (B) Ronald O. Perelman (or his estate, heirs, executors, administrator or other personal representative) and his or their controlled affiliates shall cease to ''control'' Products Corporation, and any other person or group of persons owns, directly or indirectly, more than 35% of the total voting power of Products Corporation, (C) any person or group of persons other than Ronald O. Perelman (or his estate, heirs, executors, administrator or other personal representative) and his or their controlled affiliates shall ''control'' Products Corporation or (D) during any period of two consecutive years, the directors serving on Products Corporation's Board of Directors at the beginning of such period (or other directors nominated by at least a majority of such continuing directors) shall cease to be a majority of the directors; (viii) Revlon, Inc. shall have any meaningful assets or indebtedness or shall conduct any meaningful business other than its ownership of Products Corporation and such activities as are customary for a publicly-traded holding company which is not itself an operating company, in each case subject to limited exceptions; and (ix) the failure of certain of Products Corporation's affiliates which hold Products Corporation's or its subsidiaries' indebtedness to be party to a valid and enforceable agreement prohibiting such affiliate from demanding or retaining payments in respect of such indebtedness, subject to certain exceptions, including as to Products Corporation's Amended and Restated Senior Subordinated Term Loan. If Products Corporation is in default under the senior secured leverage ratio under the 2011 Term Loan Facility or the consolidated fixed charge coverage ratio under the 2011 Revolving Credit Agreement, Products Corporation may cure such default by issuing certain equity securities to, or receiving capital contributions from, Revlon, Inc. and applying such cash which is deemed to increase EBITDA for the purpose of calculating the applicable ratio. Products Corporation may exercise this cure right two times in any four-quarter period. Products Corporation was in compliance with all applicable covenants under the 2011 Term Loan Agreement and 2011 Revolving Credit Agreement upon closing the respective 2011 Refinancings and as of December 31, 2012 and 2011. At December 31, 2012, the aggregate principal amount outstanding under the 2011 Term Loan Facility was $788 million and availability under the $140.0 million 2011 Revolving Credit Facility, based upon the calculated borrowing base less $10.4 million of outstanding undrawn letters of credit and nil then drawn on the 2011 Revolving Credit Facility, was $129.6 million. | |||||
[5] | In connection with the Colomer Acquisition, in August 2013, Products Corporation consummated an amendment (the "August 2013 Revolver Amendment") to its third amended and restated revolving credit agreement dated June 16, 2011 (as amended, the "Amended Revolving Credit Agreement"). Refer to "Recent Debt Transactions - Amended Revolving Credit Facility" below for further discussion. | |||||
[6] | On February 8, 2013, Products Corporation issued $500.0 million aggregate principal amount of 5 3/4% Senior Notes due February 15, 2021 (the "5 3/4% Senior Notes") to investors at par. Products Corporation used $491.2 million of net proceeds (net of underwriters' fees) from the issuance of the 5 3/4% Senior Notes to repay or redeem all of the $330 million outstanding aggregate principal amount of its 9 3/4% Senior Secured Notes due November 2015 (the "9 3/4% Senior Secured Notes"), as well as to pay an aggregate of $27.9 million for the applicable redemption and tender offer premiums, accrued interest and related fees and expenses. Products Corporation used a portion of the remaining proceeds, together with existing cash, to pay approximately $113.0 million of principal on its 2011 Term Loan in conjunction with the February 2013 Term Loan Amendments. Products Corporation used the remaining balance available from the issuance of the 5 3/4% Senior Notes for general corporate purposes, including, without limitation, debt reduction transactions, such as repaying to Revlon, Inc. at maturity on October 8, 2013 the Contributed Loan (as defined below). Refer to "Recent Debt Transactions - 2013 Senior Notes Refinancing" below for further discussion. | |||||
[7] | 9 3/4% Senior Secured Notes due 2015 In November 2009, Products Corporation issued and sold $330.0 million in aggregate principal amount of the 9 3/4% Senior Secured Notes due November 15, 2015 (the "9 3/4% Senior Secured Notes") in a private placement which was priced at 98.9% of par, receiving net proceeds (net of original issue discount and underwriters fees) of $319.8 million. Including the amortization of the original issue discount, the effective interest rate on the 9 3/4% Senior Secured Notes is 10%. In connection with and prior to the issuance of the 9 3/4% Senior Secured Notes, Products Corporation entered into amendments to its 2006 bank credit agreements to permit the issuance of the 9 3/4% Senior Secured Notes on a secured basis and incurred $4.7 million of related fees and expenses. The Company capitalized $4.5 million of such fees and expenses which was expensed upon such refinancing in March 2010. In connection with consummating such refinancing, the Company incurred $10.5 million of fees and expenses related to the issuance of the 9 3/4% Senior Secured Notes, all of which the Company capitalized and which is being amortized over the remaining life of the 9 3/4% Senior Secured Notes. The $319.8 million of net proceeds, together with $42.6 million of other cash and borrowings under Products Corporation's 2006 bank revolving credit facility (prior to its complete refinancing in March 2010), were used to repay or redeem all of the $340.5 million aggregate principal amount outstanding of Products Corporation's 9 1/2% Senior Notes due April 1, 2011, plus an aggregate of $21.9 million for accrued interest, applicable redemption and tender premiums and fees and expenses related to refinancing the 9 1/2% Senior Notes, as well as the amendments to Products Corporation's 2006 bank credit agreements (prior to their complete refinancing in March 2010) required to permit such refinancing to be conducted on a secured basis. Pursuant to a registration rights agreement, in July 2010, all of the original privately-placed 9 3/4% Senior Secured Notes were exchanged for new 9 3/4% Senior Secured Notes due 2015 that were registered under the Securities Act of 1933, as amended (the "Securities Act"), which new notes have substantially identical terms as the original notes, except that the new notes are registered with the SEC under the Securities Act and the transfer restrictions and registration rights applicable to the original notes do not apply to the new notes. The 9 3/4% Senior Secured Notes were issued pursuant to an indenture, dated as of November 23, 2009 (the "9 3/4% Senior Secured Notes Indenture"), among Products Corporation, Revlon, Inc. and Products Corporation's domestic subsidiaries (subject to certain limited exceptions) (the "Subsidiary Guarantors" and, collectively with Revlon, Inc., the "Guarantors"), which Guarantors also currently guarantee Products Corporation's 2011 Credit Agreements, and U.S. Bank National Association, as trustee. The 9 3/4% Senior Secured Notes are supported by guarantees from the Guarantors. The 9 3/4% Senior Secured Notes and the related guarantees are secured, subject to certain permitted liens: b" together with the obligations under the 2011 Revolving Credit Agreement (on an equal and ratable basis), by a second-priority lien on the collateral that is subject to a first-priority lien securing Products Corporation's obligations under the 2011 Term Loan Agreement (i.e., substantially all of Products Corporation's and the Subsidiary Guarantors' intellectual property and intangibles, all of the capital stock of Products Corporation and the Subsidiary Guarantors and 66% of the capital stock of Products Corporation's and the Subsidiary Guarantors' first-tier foreign subsidiaries and certain other assets of Products Corporation and the Subsidiary Guarantors (excluding the assets described below)), subject to certain limited exceptions; and b" by a third-priority lien on the collateral that is subject to a first-priority lien securing Products Corporation's obligations under the 2011 Revolving Credit Agreement (i.e., substantially all of Products Corporation's and the Subsidiary Guarantors' inventory, accounts receivable, equipment, investment property, deposit accounts and certain real estate), which collateral is also subject to a second-priority lien securing Products Corporation's obligations under the 2011 Term Loan Agreement, subject to certain limited exceptions. The liens securing the 9 3/4% Senior Secured Notes and the related guarantees are subject to the provisions of the 2010 Intercreditor Agreement, which, among other things, governs the priority of the liens on the collateral securing the 9 3/4% Senior Secured Notes and provides different rights as to enforcement, procedural provisions and other similar matters for holders of liens securing Products Corporation's obligations under the 2011 Credit Agreements. The 9 3/4% Senior Secured Notes are senior secured obligations of Products Corporation and rank pari passu in right of payment with all existing and future senior indebtedness of Products Corporation and the Guarantors, including the indebtedness under the 2011 Credit Agreements, and are senior in right of payment to all of Products Corporation's and the Guarantors' present and future indebtedness that is expressly subordinated in right of payment (including the Contributed Loan and the Non-Contributed Loan). The 9 3/4% Senior Secured Notes are effectively subordinated to the outstanding indebtedness and other liabilities of Products Corporation's non-guarantor subsidiaries. The 9 3/4% Senior Secured Notes mature on November 15, 2015. Interest is payable on May 15 and November 15 of each year. The 9 3/4% Senior Secured Notes may be redeemed at the option of Products Corporation in whole or in part at any time after November 15, 2012 at various fixed prices specified in the 9 3/4% Senior Secured Notes Indenture. Upon a Change in Control (as defined in the 9 3/4% Senior Secured Notes Indenture), subject to certain conditions, each holder of the 9 3/4% Senior Secured Notes will have the right to require Products Corporation to repurchase all or a portion of such holder's 9 3/4% Senior Secured Notes at a price equal to 101% of the principal amount, plus accrued and unpaid interest, if any, to the date of repurchase. The 9 3/4% Senior Secured Notes Indenture contains covenants that, among other things, limit (i) the issuance of additional debt and redeemable stock by Products Corporation; (ii) the incurrence of liens; (iii) the issuance of debt and preferred stock by Products Corporation's subsidiaries; (iv) the payment of dividends on capital stock of Products Corporation and its subsidiaries and the redemption of capital stock of Products Corporation and certain subordinated obligations; (v) the sale of assets and subsidiary stock by Products Corporation; (vi) transactions with affiliates of Products Corporation; (vii) consolidations, mergers and transfers of all or substantially all of Products Corporation's assets; and (viii) certain restrictions on transfers of assets by or distributions from subsidiaries of Products Corporation. All of these limitations and prohibitions, however, are subject to a number of qualifications and exceptions, which are specified in the 9 3/4% Senior Secured Notes Indenture. The 9 3/4% Senior Secured Notes Indenture contains customary events of default for debt instruments of such type and includes a cross acceleration provision which provides that it shall be an event of default if any debt (as defined in such indenture) of Products Corporation or any of its significant subsidiaries (as defined in such indenture) is not paid within any applicable grace period after final maturity or is accelerated by the holders of such debt because of a default and the total principal amount of the portion of such debt that is unpaid or accelerated exceeds $25.0 million and such default continues for 10 days after notice from the trustee under such indenture. If any such event of default occurs, the trustee under such indenture or the holders of at least 30% in aggregate principal amount of the outstanding notes under such indenture may declare all such notes to be due and payable immediately, provided that the holders of a majority in aggregate principal amount of the outstanding notes under such indenture may, by notice to the trustee, waive any such default or event of default and its consequences under such indenture. See Note 22, "Subsequent Events - 2013 Senior Notes Refinancing," for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. | |||||
[8] | Amended and Restated Senior Subordinated Term Loan Agreement In January 2008, Products Corporation entered into the Senior Subordinated Term Loan Agreement with MacAndrews & Forbes and on February 1, 2008 used the $170.0 million of proceeds from such loan to repay in full the $167.4 million remaining aggregate principal amount of Products Corporation's 8 5/8% Senior Subordinated Notes, which matured on February 1, 2008, and to pay $2.55 million of related fees and expenses. In connection with such repayment, Products Corporation also used cash on hand to pay $7.2 million of accrued and unpaid interest due on the 8 5/8% Senior Subordinated Notes up to, but not including, the February 1, 2008 maturity date. In September 2008, Products Corporation used $63.0 million of the net proceeds from the July 2008 sale of the Company's Bozzano business in Brazil to partially repay $63.0 million of the outstanding aggregate principal amount of the Senior Subordinated Term Loan. Following such partial repayment, there remained outstanding $107.0 million in aggregate principal amount under such loan. In October 2009, Revlon, Inc. consummated a voluntary exchange offer transaction (the "2009 Exchange Offer"), in which MacAndrews & Forbes contributed to Revlon, Inc. $48.6 million of the $107.0 million aggregate outstanding principal amount of the Senior Subordinated Term Loan made by MacAndrews & Forbes to Products Corporation (the "Contributed Loan") and the terms of the Senior Subordinated Term Loan Agreement were amended to extend the maturity date of the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. from August 2010 to October 8, 2013 and to change the annual interest rate on the Contributed Loan from 11% to 12.75%. The $48.6 million Contributed Loan represented $5.21 of outstanding principal amount under the Senior Subordinated Term Loan for each of the 9,336,905 shares of Class A Common Stock exchanged in the 2009 Exchange Offer, in which Revlon, Inc. issued to MacAndrews & Forbes 9,336,905 shares of Class A Common Stock at a ratio of one share of Class A Common Stock for each $5.21 of outstanding principal amount of the Senior Subordinated Term Loan contributed to Revlon, Inc. Upon consummation of the 2009 Exchange Offer, the terms of the Senior Subordinated Term Loan Agreement were also amended to extend the maturity date of the $58.4 million principal amount of the Senior Subordinated Term Loan which, at December 31, 2011, remained owing from Products Corporation to MacAndrews & Forbes (the "Non-Contributed Loan") from August 2010 to October 8, 2014 and to change the annual interest rate on the Non-Contributed Loan from 11% to 12%. On April 30, 2012, MacAndrews & Forbes exercised its right to assign its interest in the Non-Contributed Loan. In connection with such assignment, Products Corporation entered into an Amended and Restated Senior Subordinated Term Loan Agreement with MacAndrews & Forbes and a related Administrative Letter was entered into with Citibank, N.A. and MacAndrews & Forbes, to among other things: (i) modify the interest rate on the Non-Contributed Loan from its prior 12% fixed rate to a floating rate of LIBOR plus 7%, with a 1.5% LIBOR floor, resulting in an interest rate of approximately 8.5% per annum through December 31, 2012 (or a 3.5% reduction per annum) upon the effectiveness of the Amended and Restated Senior Subordinated Term Loan Agreement. Interest under the Amended and Restated Senior Subordinated Term Loan Agreement is payable quarterly in arrears in cash; (ii) insert prepayment premiums such that Products Corporation may optionally prepay the Non-Contributed Loan (i) through October 31, 2013 with a prepayment premium based on a formula designed to provide the assignees of the Non-Contributed Loan with the present value, using a discount rate of 75 basis points over U.S. Treasuries, of the principal, premium and interest that would have accrued on the Non-Contributed Loan from any such prepayment date through October 31, 2013 (provided that, pursuant to the loan's terms (both before and after giving effect to these amendments), no portion of the principal amount of the Non-Contributed Loan may be repaid prior to its October 8, 2014 maturity date unless and until all shares of Revlon, Inc.'s Series A Preferred Stock, par value $0.01 per share (the "Preferred Stock") have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full), (ii) from November 1, 2013 through April 30, 2014 with a 2% prepayment premium on the aggregate principal amount of the Non-Contributed Loan being prepaid, and (iii) from May 1, 2014 through maturity on October 8, 2014 with no prepayment premium; and (iii) designate Citibank, N.A. as the administrative agent for the Non-Contributed Loan. Concurrent with the effectiveness of the Amended and Restated Senior Subordinated Term Loan Agreement, MacAndrews & Forbes assigned its entire interest in the Non-Contributed Loan to several third parties. Pursuant to the terms of the Contributed Loan, Products Corporation may, at its option, prepay such loan, in whole or in part (together with accrued and unpaid interest), at any time prior to its maturity date without premium or penalty, provided that prior to such loan's maturity date all shares of Revlon, Inc.'s Preferred Stock have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full. The Amended and Restated Senior Subordinated Term Loan is an unsecured obligation of Products Corporation and is subordinated in right of payment to all existing and future senior debt of Products Corporation, currently including indebtedness under Products Corporation's 2011 Credit Agreements and its 9 3/4% Senior Secured Notes. The Amended and Restated Senior Subordinated Term Loan has the right to payment equal in right of payment with any present and future senior subordinated indebtedness of Products Corporation. The Amended and Restated Senior Subordinated Term Loan Agreement contains covenants (other than the subordination provisions discussed above) that limit the ability of Products Corporation and its subsidiaries to, among other things, incur additional indebtedness, pay dividends on or redeem or repurchase stock, engage in certain asset sales, make certain types of investments and other restricted payments, engage in certain transactions with affiliates, restrict dividends or payments from subsidiaries and create liens on their assets. All of these limitations and prohibitions, however, are subject to a number of important qualifications and exceptions. The Amended and Restated Senior Subordinated Term Loan Agreement includes a cross acceleration provision which provides that it shall be an event of default under such agreement if any debt (as defined in such agreement) of Products Corporation or any of its significant subsidiaries (as defined in such agreement) is not paid within any applicable grace period after final maturity or is accelerated by the holders of such debt because of a default and the total principal amount of the portion of such debt that is unpaid or accelerated exceeds $25.0 million and such default continues for 10 days after notice from the holders of a majority of the outstanding principal amount of the Amended and Restated Senior Subordinated Term Loan (provided that if Revlon, Inc. or Products Corporation held such majority, notice would be required from the holders of a majority of the outstanding principal amount of the Amended and Restated Senior Subordinated Term Loan not held by Revlon, Inc. or Products Corporation at the time of any such decision). If any such event of default occurs, such requisite holders of the Non-Contributed and Contributed Loans may declare the Amended and Restated Senior Subordinated Term Loan to be due and payable immediately. The Amended and Restated Senior Subordinated Term Loan Agreement also contains other customary events of default for loan agreements of such type, including, subject to applicable grace periods, nonpayment of any principal or interest when due under such agreement, non-compliance with any of the material covenants in such agreement, any representation or warranty being incorrect, false or misleading in any material respect, or the occurrence of certain bankruptcy, insolvency or similar proceedings by or against Products Corporation or any of its significant subsidiaries. Upon any change of control (as defined in the Amended and Restated Senior Subordinated Term Loan Agreement), Products Corporation is required to repay the Amended and Restated Senior Subordinated Term Loan in full, provided that prior to such loan's respective maturity dates all shares of Revlon, Inc.'s Preferred Stock have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full, after fulfilling an offer to repay Products Corporation's 9 3/4% Senior Secured Notes and to the extent permitted by Products Corporation's 2011 Credit Agreements. Long-Term Debt Maturities The aggregate amounts of contractual long-term debt maturities at December 31, 2012 in the years 2013 through 2017 and thereafter are as follows: Years ended December 31, Long-term debt maturities 2013 70.1 (a) 2014 58.4 (b) 2015 332.5 (c) 2016 8.0 (d) 2017 756.0 (e) Thereafter - Total long-term debt $ 1,225.0 Discounts (9.1 ) Total long-term debt, net of discounts $ 1,215.9 (a) Amount refers to (i) a $2.0 million principal repayment on March 31, 2013, as well as the approximately $19.5 million "excess cash flow" payment (as defined under the 2011 Term Loan Agreement), to be made under the 2011 Term Loan Facility prior to April 10, 2013. Such repayment would satisfy Products Corporation's future regularly scheduled term loan amortization payments in the direct order of maturities beginning in June 2013 through September 2015 and (ii) the aggregate principal amount outstanding under the Contributed Loan. Pursuant to the terms of the 2009 Exchange Offer, the maturity date on the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. was extended from August 2010 to October 8, 2013. (b) Amount refers to the aggregate principal amount outstanding under the Non-Contributed Loan which matures on October 8, 2014. (c) Amount refers to $2.5 million of quarterly amortization payments required under the 2011 Term Loan Facility and the principal balance due on the 9 3/4% Senior Secured Notes which mature on November 15, 2015. The difference between this amount and the carrying amount of the 9 3/4% Senior Secured Notes is due to the issuance of the $330.0 million in aggregate principal amount of the 9 3/4% Senior Secured Notes at a discount, which was priced at 98.9% of par. (d) Amount refers to the quarterly amortization payments required under the 2011 Term Loan Facility. Amount excludes amounts available under the 2011 Revolving Credit Facility which matures on June 16, 2016, and which was undrawn as of December 31, 2012. (e) Amount refers to the aggregate principal amount expected to be outstanding under the 2011 Term Loan Facility on its November 19, 2017 maturity date. The difference between this amount and the carrying amounts of the 2011 Term Loan Facility is due to the issuance of the $800.0 million in aggregate principal amount of the 2011 Term Loan Facility at a discount, which was priced at 99.5% of par. |
LongTerm_Debt_Components_of_Lo1
Long-Term Debt - Components of Long-Term Debt (Parenthetical) (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | |||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 21, 2013 | 19-May-11 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 08, 2013 | Dec. 31, 2012 | 19-May-11 | Dec. 31, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Feb. 08, 2013 | |||
Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 2011 Term Loan Facility Due 2017 [Member] | 2011 Term Loan Facility Due 2017 [Member] | 2011 Term Loan Facility Due 2017 [Member] | 5 3/4% Senior Notes Due 2021 [Member] | 5 3/4% Senior Notes Due 2021 [Member] | |||||||
Subsequent Event [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Current portion of long-term debt | ($8) | [1] | $0 | [2] | ($21.50) | [1],[2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of secured debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | ' | ' | |||
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | '6 years 6 months | ' | ' | ' | ' | ' | ' | '6 years 6 months | ' | ' | ' | ' | |||
Stated interest rate (percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.75% | ' | ' | ' | 5.75% | ' | |||
Aggregate principal amount outstanding | ' | ' | 1,225 | ' | ' | ' | ' | 675 | 788 | ' | ' | 330 | ' | ' | 788 | ' | ' | 500 | |||
Proceeds from Issuance of Senior Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 491.2 | ' | |||
Repayments of Long Term Debt | ' | ' | ' | ' | ' | 113 | ' | 113 | ' | 330 | 0 | ' | ' | ' | ' | ' | ' | ' | |||
Debt Issuance Cost | 1.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.6 | ' | ' | 27.9 | ' | |||
Senior Subordinated Term Loan | ' | $107 | ' | $58.40 | $48.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
[1] | The Company classified $21.5 million of long-term debt as a current liability, which is comprised of the Company's regularly scheduled $2.0 million principal repayment due on March 31, 2013 as well as the required "excess cash flow" payment (as defined under the 2011 Term Loan Agreement) to be made in 2013. (See below under "2011 Credit Agreements"). | ||||||||||||||||||||
[2] | In February 2013, Products Corporation consummated an amendment (the "February 2013 Term Loan Amendments") to its third amended and restated term loan agreement dated as of May 19, 2011 (as amended, the "2011 Term Loan Agreement" or the "2011 Term Loan Facility") for its 6.5-year term loan due November 19, 2017 (the "2011 Term Loan"). Refer to "Recent Debt Transactions - Term Loan Amendments - (i) February 2013 Term Loan Amendments" below for further discussion. |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 2 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 7 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 2 Months Ended | 7 Months Ended | 12 Months Ended | 2 Months Ended | 7 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2008 | Apr. 30, 2012 | Feb. 01, 2008 | Apr. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2008 | Jun. 16, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Feb. 01, 2008 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 23, 2013 | 19-May-11 | Dec. 31, 2012 | Mar. 31, 2013 | 19-May-11 | Dec. 31, 2010 | Jun. 16, 2011 | Dec. 31, 2012 | Aug. 13, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Nov. 15, 2009 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Nov. 15, 2009 | Oct. 31, 2009 | Oct. 31, 2009 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 08, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 08, 2013 | Dec. 31, 2012 | Feb. 21, 2013 | 19-May-11 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Feb. 21, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Aug. 13, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Aug. 13, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 23, 2013 | Oct. 09, 2013 | |||||||||
Revlon Inc. [Member] | Senior Subordinated Term Loan Due 2014 [Member] | Senior Subordinated Term Loan Due 2014 [Member] | Senior Subordinated Term Loan Due 2014 [Member] | Senior Subordinated Term Loan Due 2014 [Member] | Debt Instrument, Name [Domain] | Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | 5 3/4% Senior Notes Due 2021 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | Two Thousand And Thirteen Excess Cash Flow Payment [Member] | 8 5/8% Senior Subordinated Notes [Member] | Amended Term Loan Facility [Member] | Amended Term Loan Facility [Member] | Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | 2011 Term Loan Facility Due 2017 [Member] | 2011 Term Loan Facility Due 2017 [Member] | 2011 Term Loan Facility Due 2017 [Member] | 2010 Term Loan Facility Due 2015 [Member] | 2010 Term Loan Facility Due 2015 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 1/2% Senior Secured Notes Due 2011 [Member] | Contributed Loan [Member] | NonContributed Loan [Member] | 5 3/4% Senior Notes Due 2021 [Member] | 5 3/4% Senior Notes Due 2021 [Member] | 5 3/4% Senior Notes Due 2021 [Member] | 5 3/4% Senior Notes Due 2021 [Member] | 5 3/4% Senior Notes Due 2021 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Two Thousand Eleven Term Loan [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Amended Revolving Credit Facility [Member] | Acquisition Term Loan [Member] | Acquisition Term Loan [Member] | Acquisition Term Loan [Member] | Acquisition Term Loan [Member] | |||||||||||||||||||
Minimum [Member] | D | Subsequent Event [Member] | Subsequent Event [Member] | Swingline Loan [Member] | Letter of Credit [Member] | D | Senior Subordinated Term Loan Due 2013 [Member] | Senior Subordinated Term Loan Due 2014 [Member] | Debt Instrument, Redemption, Period Zero [Member] | Minimum [Member] | Minimum [Member] | February 2013 Bank Term Loan Amendment [Member] | February 2013 Bank Term Loan Amendment [Member] | August 2013 Term Loan Amendment [Member] | August 2013 Term Loan Amendment [Member] | Swingline Loan [Member] | Letter of Credit [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Senior Subordinated Term Loan | $107 | $107 | ' | $107 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $58.40 | $48.60 | ' | ' | ' | ' | ' | ' | ' | $58.40 | [1],[2] | $58.40 | [2] | ' | [1] | $48.60 | [2] | $48.60 | [1],[2] | ' | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Non-contributed loan fixed rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 1.00% | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 3.50% | 1.00% | 1.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | 2.00% | 2.00% | 2.00% | 2.50% | 2.50% | ' | ' | ' | ' | |||||||||
Non-contributed loan floating rate of LIBOR floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Non-contributed loan interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Non-contributed loan interest rate reduction per annum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt Instrument Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 330 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 330 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Aggregate principal amount outstanding | ' | ' | ' | ' | ' | 1,225 | ' | ' | ' | ' | ' | ' | 107 | ' | ' | ' | ' | ' | ' | ' | 167.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 788 | ' | 792 | 794 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 340.5 | ' | ' | ' | ' | ' | 500 | ' | ' | ' | 330 | ' | ' | ' | 675 | 788 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700 | |||||||||
Debt instrument, maturity term (years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years 6 months | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Proceeds from Term Loan Facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 796 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Percentage par value of term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt Issuance Cost | ' | ' | ' | ' | ' | ' | 1.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.55 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.6 | ' | ' | ' | ' | 0.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.5 | 4.7 | ' | ' | ' | ' | 27.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | ' | 1.9 | 1.9 | ' | 0.4 | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | 1.7 | 1.7 | ' | ' | |||||||||
Capitalization of refinancing costs | ' | ' | ' | ' | ' | 17 | 23.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.5 | ' | ' | ' | ' | ' | ' | 10.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | 1.7 | 1.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Maximum borrowing available under credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140 | 140 | ' | ' | ' | ' | 30 | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140 | 140 | 140 | 30 | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Gains (Losses) on Extinguishment of Debt | ' | -0.2 | 0 | -28.1 | 0 | 0 | -11.2 | -9.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.5 | ' | 0.2 | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Unamortized debt discount | ' | ' | ' | ' | ' | ' | 9.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Line of credit facility commitment fee percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Foreign Lenders Fronting Fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Foreign Lenders Administrative Fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Letter of credit fronting fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Increase in revolving credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | 100 | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt Covenant Line Of Credit Facility Amount Outstanding Threshold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | ' | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 20 | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Number of consecutive days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 days | '2 days | '2 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Number of business days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Consolidated Fixed Charge Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Eurodollar rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Alternate base rate loans bear interest at alternate base rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.50% | 2.00% | 2.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | 1.00% | 1.00% | ' | 1.50% | ' | ' | ' | ' | |||||||||
Alternate base rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Principal repayment of long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Excess of net cash proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Maximum Carryover Of Unused Basket Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Additional Carryover On Certain Specified Dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Percentage Of Annual Excess Cash Flow For Pre Payment Of Loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt Instrument Additional Borrowing Capacity Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Period of maturity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Feb-08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19-Nov-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Senior Secured Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.75% | 9.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.75% | ' | ' | ' | ' | ' | 5.75% | 5.75% | ' | ' | ' | ' | ' | ' | 9.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Percentage Of Voting Capital Stock | 66.00% | ' | ' | ' | ' | 66.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Non-voting capital stock | 100.00% | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Maximum Amount Of Restricted Payments To Affiliates | 10 | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Aggregate amount of other restricted payments | 35 | ' | ' | ' | ' | 35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Maximum Consideration For Affiliate Transactions | 10 | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Maximum Aggregate Payments Related To Affiliates | 20 | ' | ' | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Aggregate debt principal amount | 50 | 50 | ' | 50 | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Capital Stock Ownership | 100.00% | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Total voting power of Products Corporation | 35.00% | 35.00% | ' | 35.00% | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Letters of credit outstanding | ' | ' | ' | ' | ' | 10.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.4 | ' | ' | 10.4 | 11.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.8 | 9.8 | 9.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Availability under the credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 129.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 130.2 | 130.2 | 130.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Revolving Credit Facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | [3] | 0 | [3],[4] | ' | [4] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Rate of original issue on par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 98.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Net proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 170 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 319.8 | ' | ' | ' | ' | ' | ' | ' | 491.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Effective interest rate on the 9 3/4% Senior Secured Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Other cash and borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Repurchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Maximum days after which acceleration provision is applicable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Proceeds from sale of business | ' | ' | ' | ' | ' | ' | ' | ' | 63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Repayment of outstanding aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Annual interest rate on loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Fixed rate on Contributed Loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
2009 Exchange Offer price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Class A Common Stock exchanged | 5,260 | 5,260 | ' | 5,260 | ' | 5,260 | 5,260 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,336,905 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Discount rate over domestic treasuries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Preferred stock, par value | $1 | $1 | ' | $1 | ' | $1 | $1 | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Prepayment premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Leverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt Related Commitment Fees and Debt Issuance Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Premium in connection with repricing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | |||||||||
Debt Repayment Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | |||||||||
Repayments of Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 330 | 0 | ' | ' | 113 | ' | 113 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Financing Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Gains (Losses) on Extinguishment of Debt, before Write off of Deferred Debt Issuance Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Maximum redemption | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Redemption price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Change of control percentage repurchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Days to file registration statement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '150 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Days for registration to become effective | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '210 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Days to affect an exchange offer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '270 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Days following failure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Additional Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Additional interest after 90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Subsequent failure period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Maximum additional interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Additional interest under Registration Rights Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
[1] | Amended and Restated Senior Subordinated Term Loan Agreement In January 2008, Products Corporation entered into the Senior Subordinated Term Loan Agreement with MacAndrews & Forbes and on February 1, 2008 used the $170.0 million of proceeds from such loan to repay in full the $167.4 million remaining aggregate principal amount of Products Corporation's 8 5/8% Senior Subordinated Notes, which matured on February 1, 2008, and to pay $2.55 million of related fees and expenses. In connection with such repayment, Products Corporation also used cash on hand to pay $7.2 million of accrued and unpaid interest due on the 8 5/8% Senior Subordinated Notes up to, but not including, the February 1, 2008 maturity date. In September 2008, Products Corporation used $63.0 million of the net proceeds from the July 2008 sale of the Company's Bozzano business in Brazil to partially repay $63.0 million of the outstanding aggregate principal amount of the Senior Subordinated Term Loan. Following such partial repayment, there remained outstanding $107.0 million in aggregate principal amount under such loan. In October 2009, Revlon, Inc. consummated a voluntary exchange offer transaction (the "2009 Exchange Offer"), in which MacAndrews & Forbes contributed to Revlon, Inc. $48.6 million of the $107.0 million aggregate outstanding principal amount of the Senior Subordinated Term Loan made by MacAndrews & Forbes to Products Corporation (the "Contributed Loan") and the terms of the Senior Subordinated Term Loan Agreement were amended to extend the maturity date of the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. from August 2010 to October 8, 2013 and to change the annual interest rate on the Contributed Loan from 11% to 12.75%. The $48.6 million Contributed Loan represented $5.21 of outstanding principal amount under the Senior Subordinated Term Loan for each of the 9,336,905 shares of Class A Common Stock exchanged in the 2009 Exchange Offer, in which Revlon, Inc. issued to MacAndrews & Forbes 9,336,905 shares of Class A Common Stock at a ratio of one share of Class A Common Stock for each $5.21 of outstanding principal amount of the Senior Subordinated Term Loan contributed to Revlon, Inc. Upon consummation of the 2009 Exchange Offer, the terms of the Senior Subordinated Term Loan Agreement were also amended to extend the maturity date of the $58.4 million principal amount of the Senior Subordinated Term Loan which, at December 31, 2011, remained owing from Products Corporation to MacAndrews & Forbes (the "Non-Contributed Loan") from August 2010 to October 8, 2014 and to change the annual interest rate on the Non-Contributed Loan from 11% to 12%. On April 30, 2012, MacAndrews & Forbes exercised its right to assign its interest in the Non-Contributed Loan. In connection with such assignment, Products Corporation entered into an Amended and Restated Senior Subordinated Term Loan Agreement with MacAndrews & Forbes and a related Administrative Letter was entered into with Citibank, N.A. and MacAndrews & Forbes, to among other things: (i) modify the interest rate on the Non-Contributed Loan from its prior 12% fixed rate to a floating rate of LIBOR plus 7%, with a 1.5% LIBOR floor, resulting in an interest rate of approximately 8.5% per annum through December 31, 2012 (or a 3.5% reduction per annum) upon the effectiveness of the Amended and Restated Senior Subordinated Term Loan Agreement. Interest under the Amended and Restated Senior Subordinated Term Loan Agreement is payable quarterly in arrears in cash; (ii) insert prepayment premiums such that Products Corporation may optionally prepay the Non-Contributed Loan (i) through October 31, 2013 with a prepayment premium based on a formula designed to provide the assignees of the Non-Contributed Loan with the present value, using a discount rate of 75 basis points over U.S. Treasuries, of the principal, premium and interest that would have accrued on the Non-Contributed Loan from any such prepayment date through October 31, 2013 (provided that, pursuant to the loan's terms (both before and after giving effect to these amendments), no portion of the principal amount of the Non-Contributed Loan may be repaid prior to its October 8, 2014 maturity date unless and until all shares of Revlon, Inc.'s Series A Preferred Stock, par value $0.01 per share (the "Preferred Stock") have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full), (ii) from November 1, 2013 through April 30, 2014 with a 2% prepayment premium on the aggregate principal amount of the Non-Contributed Loan being prepaid, and (iii) from May 1, 2014 through maturity on October 8, 2014 with no prepayment premium; and (iii) designate Citibank, N.A. as the administrative agent for the Non-Contributed Loan. Concurrent with the effectiveness of the Amended and Restated Senior Subordinated Term Loan Agreement, MacAndrews & Forbes assigned its entire interest in the Non-Contributed Loan to several third parties. Pursuant to the terms of the Contributed Loan, Products Corporation may, at its option, prepay such loan, in whole or in part (together with accrued and unpaid interest), at any time prior to its maturity date without premium or penalty, provided that prior to such loan's maturity date all shares of Revlon, Inc.'s Preferred Stock have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full. The Amended and Restated Senior Subordinated Term Loan is an unsecured obligation of Products Corporation and is subordinated in right of payment to all existing and future senior debt of Products Corporation, currently including indebtedness under Products Corporation's 2011 Credit Agreements and its 9 3/4% Senior Secured Notes. The Amended and Restated Senior Subordinated Term Loan has the right to payment equal in right of payment with any present and future senior subordinated indebtedness of Products Corporation. The Amended and Restated Senior Subordinated Term Loan Agreement contains covenants (other than the subordination provisions discussed above) that limit the ability of Products Corporation and its subsidiaries to, among other things, incur additional indebtedness, pay dividends on or redeem or repurchase stock, engage in certain asset sales, make certain types of investments and other restricted payments, engage in certain transactions with affiliates, restrict dividends or payments from subsidiaries and create liens on their assets. All of these limitations and prohibitions, however, are subject to a number of important qualifications and exceptions. The Amended and Restated Senior Subordinated Term Loan Agreement includes a cross acceleration provision which provides that it shall be an event of default under such agreement if any debt (as defined in such agreement) of Products Corporation or any of its significant subsidiaries (as defined in such agreement) is not paid within any applicable grace period after final maturity or is accelerated by the holders of such debt because of a default and the total principal amount of the portion of such debt that is unpaid or accelerated exceeds $25.0 million and such default continues for 10 days after notice from the holders of a majority of the outstanding principal amount of the Amended and Restated Senior Subordinated Term Loan (provided that if Revlon, Inc. or Products Corporation held such majority, notice would be required from the holders of a majority of the outstanding principal amount of the Amended and Restated Senior Subordinated Term Loan not held by Revlon, Inc. or Products Corporation at the time of any such decision). If any such event of default occurs, such requisite holders of the Non-Contributed and Contributed Loans may declare the Amended and Restated Senior Subordinated Term Loan to be due and payable immediately. The Amended and Restated Senior Subordinated Term Loan Agreement also contains other customary events of default for loan agreements of such type, including, subject to applicable grace periods, nonpayment of any principal or interest when due under such agreement, non-compliance with any of the material covenants in such agreement, any representation or warranty being incorrect, false or misleading in any material respect, or the occurrence of certain bankruptcy, insolvency or similar proceedings by or against Products Corporation or any of its significant subsidiaries. Upon any change of control (as defined in the Amended and Restated Senior Subordinated Term Loan Agreement), Products Corporation is required to repay the Amended and Restated Senior Subordinated Term Loan in full, provided that prior to such loan's respective maturity dates all shares of Revlon, Inc.'s Preferred Stock have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full, after fulfilling an offer to repay Products Corporation's 9 3/4% Senior Secured Notes and to the extent permitted by Products Corporation's 2011 Credit Agreements. Long-Term Debt Maturities The aggregate amounts of contractual long-term debt maturities at December 31, 2012 in the years 2013 through 2017 and thereafter are as follows: Years ended December 31, Long-term debt maturities 2013 70.1 (a) 2014 58.4 (b) 2015 332.5 (c) 2016 8.0 (d) 2017 756.0 (e) Thereafter - Total long-term debt $ 1,225.0 Discounts (9.1 ) Total long-term debt, net of discounts $ 1,215.9 (a) Amount refers to (i) a $2.0 million principal repayment on March 31, 2013, as well as the approximately $19.5 million "excess cash flow" payment (as defined under the 2011 Term Loan Agreement), to be made under the 2011 Term Loan Facility prior to April 10, 2013. Such repayment would satisfy Products Corporation's future regularly scheduled term loan amortization payments in the direct order of maturities beginning in June 2013 through September 2015 and (ii) the aggregate principal amount outstanding under the Contributed Loan. Pursuant to the terms of the 2009 Exchange Offer, the maturity date on the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. was extended from August 2010 to October 8, 2013. (b) Amount refers to the aggregate principal amount outstanding under the Non-Contributed Loan which matures on October 8, 2014. (c) Amount refers to $2.5 million of quarterly amortization payments required under the 2011 Term Loan Facility and the principal balance due on the 9 3/4% Senior Secured Notes which mature on November 15, 2015. The difference between this amount and the carrying amount of the 9 3/4% Senior Secured Notes is due to the issuance of the $330.0 million in aggregate principal amount of the 9 3/4% Senior Secured Notes at a discount, which was priced at 98.9% of par. (d) Amount refers to the quarterly amortization payments required under the 2011 Term Loan Facility. Amount excludes amounts available under the 2011 Revolving Credit Facility which matures on June 16, 2016, and which was undrawn as of December 31, 2012. (e) Amount refers to the aggregate principal amount expected to be outstanding under the 2011 Term Loan Facility on its November 19, 2017 maturity date. The difference between this amount and the carrying amounts of the 2011 Term Loan Facility is due to the issuance of the $800.0 million in aggregate principal amount of the 2011 Term Loan Facility at a discount, which was priced at 99.5% of par. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | For detail regarding Products Corporation's Amended and Restated Senior Subordinated Term Loan (the "Amended and Restated Senior Subordinated Term Loan"), consisting of (i) the $58.4 million principal amount which remains owing from Products Corporation to various third parties (the "Non-Contributed Loan"), which matures on October 8, 2014, and (ii) the $48.6 million principal amount which, at September 30, 2013 was due from Products Corporation to Revlon, Inc. (the "Contributed Loan"), and which Products Corporation repaid to Revlon, Inc. at maturity on October 8, 2013, see Note 10, "Long-Term Debt," to the Consolidated Financial Statements in the Company's 2012 Form 10-K. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | In connection with the Colomer Acquisition, in August 2013, Products Corporation consummated an amendment (the "August 2013 Revolver Amendment") to its third amended and restated revolving credit agreement dated June 16, 2011 (as amended, the "Amended Revolving Credit Agreement"). Refer to "Recent Debt Transactions - Amended Revolving Credit Facility" below for further discussion. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | 2011 Credit Agreements 2011 Revolving Credit Facility The following is a summary description of the 2011 Revolving Credit Facility. Unless otherwise indicated, capitalized terms have the meanings given to them in the 2011 Revolving Credit Agreement. This description is subject to a number of qualifications and exceptions which are specified in the 2011 Revolving Credit Agreement. Availability under the 2011 Revolving Credit Facility varies based on a borrowing base that is determined by the value of eligible accounts receivable and eligible inventory in the U.S. and the U.K. and eligible real property and equipment in the U.S. from time to time. In each case subject to borrowing base availability, the 2011 Revolving Credit Facility is available to: (i) Products Corporation in revolving credit loans denominated in U.S. dollars; (ii) Products Corporation in swing line loans denominated in U.S. dollars up to $30.0 million; (iii) Products Corporation in standby and commercial letters of credit denominated in U.S. dollars and other currencies up to $60.0 million; and (iv) Products Corporation and certain of its international subsidiaries designated from time to time in revolving credit loans and bankers' acceptances denominated in U.S. dollars and other currencies. If the value of the eligible assets is not sufficient to support the $140.0 million borrowing base under the 2011 Revolving Credit Facility, Products Corporation will not have full access to the 2011 Revolving Credit Facility. Products Corporation's ability to borrow under the 2011 Revolving Credit Facility is also conditioned upon the satisfaction of certain conditions precedent and Products Corporation's compliance with other covenants in the 2011 Revolving Credit Agreement. Under the 2011 Revolving Credit Facility, borrowings (other than loans in foreign currencies) bear interest, if made as Eurodollar Loans, at the Eurodollar Rate, plus the applicable margin set forth in the grid below and, if made as Alternate Base Rate loans, at the Alternate Base Rate, plus the applicable margin set forth in the grid below: Excess Availability Alternate Base Rate Loans Eurodollar Loans, Eurocurrency Loans or Local Rate Loans Greater than or equal to $92,000,000 1.00 % 2.00 % Less than $92,000,000 but greater than or equal to $46,000,000 1.25 % 2.25 % Less than $46,000,000 1.50 % 2.50 % Local Loans bear interest, if mutually acceptable to Products Corporation and the relevant foreign lenders, at the Local Rate, and otherwise (i) if in foreign currencies or in U.S. dollars at the Eurodollar Rate or the Eurocurrency Rate plus the applicable margin set forth in the grid above or (ii) if in U.S. dollars at the Alternate Base Rate plus the applicable margin set forth in the grid above. Prior to the termination date of the 2011 Revolving Credit Facility, revolving loans are required to be prepaid (without any permanent reduction in commitment) with: (i) the net cash proceeds from sales of Revolving Credit First Lien Collateral by Products Corporation or any of its subsidiary guarantors (other than dispositions in the ordinary course of business and certain other exceptions); and (ii) the net proceeds from the issuance by Products Corporation or any of its subsidiaries of certain additional debt, to the extent there remains any such proceeds after satisfying Products Corporation's repayment obligations under the 2011 Term Loan Facility. Products Corporation pays to the lenders under the 2011 Revolving Credit Facility a commitment fee of 0.375% of the average daily unused portion of the 2011 Revolving Credit Facility, which fee is payable quarterly in arrears. Under the 2011 Revolving Credit Facility, Products Corporation also pays: (i) to foreign lenders, a fronting fee of 0.25% per annum on the aggregate principal amount of specified Local Loans (which fee is retained by foreign lenders out of the portion of the Applicable Margin payable to such foreign lender); (ii) to foreign lenders, an administrative fee of 0.25% per annum on the aggregate principal amount of specified Local Loans; (iii) to the multi-currency lenders, a letter of credit commission equal to the product of (a) the Applicable Margin for revolving credit loans that are Eurodollar Rate loans (adjusted for the term that the letter of credit is outstanding) and (b) the aggregate undrawn face amount of letters of credit; and (iv) to the issuing lender, a letter of credit fronting fee of 0.25% per annum of the aggregate undrawn face amount of letters of credit, which fee is a portion of the Applicable Margin. Under certain circumstances, Products Corporation has the right to request that the 2011 Revolving Credit Facility be increased by up to $60.0 million, provided that the lenders are not committed to provide any such increase. Under certain circumstances, if and when the difference between (i) the borrowing base under the 2011 Revolving Credit Facility and (ii) the amounts outstanding under the 2011 Revolving Credit Facility is less than $20.0 million for a period of two consecutive days or more, and until such difference is equal to or greater than $20.0 million for a period of 30 consecutive business days, the 2011 Revolving Credit Facility requires Products Corporation to maintain a consolidated fixed charge coverage ratio (the ratio of EBITDA minus Capital Expenditures to Cash Interest Expense for such period) of a minimum of 1.0 to 1.0. The 2011 Revolving Credit Facility matures on June 16, 2016; provided, however, it will mature on August 15, 2015, if Products Corporation's 9 3/4% Senior Secured Notes have not been refinanced, redeemed, repurchased, defeased or repaid in full on or before such date. See Note 22, "Subsequent Events - 2013 Senior Notes Refinancing," for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. 2011 Term Loan Facility The following is a summary description of the 2011 Term Loan Facility. Unless otherwise indicated, capitalized terms have the meanings given to them in the 2011 Term Loan Agreement. This description is subject to a number of qualifications and exceptions which are specified in the 2011 Term Loan Agreement. Under the 2011 Term Loan Facility, Eurodollar Loans bear interest at the Eurodollar Rate plus 3.50% per annum (with the Eurodollar Rate not to be less than 1.25%) and Alternate Base Rate loans bear interest at the Alternate Base Rate plus 2.50% (with the Alternate Base Rate not to be less than 2.25%). Prior to the November 2017 termination date of the 2011 Term Loan Facility, on September 30, December 31, March 31 and June 30 of each year, Products Corporation is required to repay $2 million of the principal amount of the term loans outstanding under the 2011 Term Loan Facility on each respective date. In addition, the term loans under the 2011 Term Loan Facility are required to be prepaid with: (i) the net cash proceeds in excess of $10 million for each 12-month period ending on March 31 received during such period from sales of Term Loan First Lien Collateral by Products Corporation or any of its subsidiary guarantors with carryover of unused annual basket amounts up to a maximum of $25 million and with respect to certain specified dispositions, up to an additional $25 million in the aggregate (subject to a reinvestment right for 365 days, or 545 days if Products Corporation has within such 365-day period entered into a legally binding commitment to invest such funds); (ii) the net proceeds from the issuance by Products Corporation or any of its subsidiaries of certain additional debt; and (iii) 50% of Products Corporation's "excess cash flow", commencing with excess cash flow for the 2012 fiscal year payable in the first 100 days of 2013, which prepayments are applied to reduce Products Corporation's future regularly scheduled term loan amortization payments in the direct order of maturities. In addition to its regularly scheduled $2.0 million principal repayment due on March 31, 2013, prior to April 10, 2013, Products Corporation will also be required to repay approximately $19.5 million of indebtedness under the 2011 Term Loan Facility, representing 50% of its 2012 "excess cash flow" (as defined under the 2011 Term Loan Agreement), which repayment would satisfy Products Corporation's future regularly scheduled term loan amortization payments in the direct order of maturities beginning in June 2013 through September 2015. The 2011 Term Loan Facility contains a financial covenant limiting Products Corporation's first lien senior secured leverage ratio (the ratio of Products Corporation's Senior Secured Debt that has a lien on the collateral which secures the 2011 Term Loan Facility that is not junior or subordinated to the liens securing the 2011 Term Loan Facility (excluding debt outstanding under the 2011 Revolving Credit Facility) to EBITDA), to no more than 4.0 to 1.0 for each period of four consecutive fiscal quarters through the November 2017 maturity date of the 2011 Term Loan Facility. Under certain circumstances, Products Corporation has the right to request the 2011 Term Loan Facility to be increased by up to $300 million, provided that the lenders are not committed to provide any such increase. The 2011 Term Loan Facility matures on November 19, 2017; provided, however, it will mature on August 15, 2015, if Products Corporation's 9 3/4% Senior Secured Notes have not been refinanced, redeemed, repurchased, defeased or repaid in full on or before such date. See Note 22, "Subsequent Events - 2013 Senior Notes Refinancing," for a discussion of the 2013 refinancing of the 9 3/4% Senior Secured Notes. Provisions Applicable to the 2011 Revolving Credit Facility and the 2011 Term Loan Facility The 2011 Revolving Credit Facility and 2011 Term Loan Facility (herein referred to as the "2011 Credit Facilities") are supported by, among other things, guarantees from Revlon, Inc. and, subject to certain limited exceptions, Products Corporation's domestic subsidiaries. The obligations of Products Corporation under the 2011 Credit Facilities and the obligations under such guarantees are secured by, subject to certain limited exceptions, substantially all of the assets of Products Corporation and the guarantors, including: (i) a mortgage on owned real property, including Products Corporation's facility in Oxford, North Carolina; (ii) the capital stock of Products Corporation and the subsidiary guarantors and 66% of the voting capital stock and 100% of the non-voting capital stock of Products Corporation's and the subsidiary guarantors' first-tier, non-U.S. subsidiaries; (iii) intellectual property and other intangible property of Products Corporation and the subsidiary guarantors; and (iv) inventory, accounts receivable, equipment, investment property and deposit accounts of Products Corporation and the subsidiary guarantors. The liens on, among other things, inventory, accounts receivable, deposit accounts, investment property (other than the capital stock of Products Corporation and its subsidiaries), real property, equipment, fixtures and certain intangible property (the ''Revolving Credit First Lien Collateral'') secure the 2011 Revolving Credit Facility on a first priority basis, the 2011 Term Loan Facility on a second priority basis and Products Corporation's 9 3/4% Senior Secured Notes and the related guarantees on a third priority basis. The liens on the capital stock of Products Corporation and its subsidiaries and intellectual property and certain other intangible property (the ''Term Loan First Lien Collateral'') secure the 2011 Term Loan Facility on a first priority basis and the 2011 Revolving Credit Facility and the 9 3/4% Senior Secured Notes and the related guarantees on a second priority basis. Such arrangements are set forth in the Third Amended and Restated Intercreditor and Collateral Agency Agreement, dated as of March 11, 2010, by and among Products Corporation and CUSA, as administrative agent and as collateral agent for the benefit of the secured parties for the 2011 Term Loan Facility, 2011 Revolving Credit Facility and the 9 3/4% Senior Secured Notes (the ''2010 Intercreditor Agreement''). The 2010 Intercreditor Agreement also provides that the liens referred to above may be shared from time to time, subject to certain limitations, with specified types of other obligations incurred or guaranteed by Products Corporation, such as foreign exchange and interest rate hedging obligations and foreign working capital lines. The 2011 Credit Facilities contain various restrictive covenants prohibiting Products Corporation and its subsidiaries from: (i) incurring additional indebtedness or guarantees, with certain exceptions; (ii) making dividend and other payments or loans to Revlon, Inc. or other affiliates, with certain exceptions, including among others: (a) exceptions permitting Products Corporation to pay dividends or make other payments to Revlon, Inc. to enable it to, among other things, pay expenses incidental to being a public holding company, including, among other things, professional fees such as legal, accounting and insurance fees, regulatory fees, such as SEC filing fees and NYSE listing fees, and other expenses related to being a public holding company; (b) subject to certain circumstances, to finance the purchase by Revlon, Inc. of its Class A Common Stock in connection with the delivery of such Class A Common Stock to grantees under the Third Amended and Restated Revlon, Inc. Stock Plan and/or the payment of withholding taxes in connection with the vesting of restricted stock awards under such plan; (c) subject to certain limitations, to pay dividends or make other payments to finance the purchase, redemption or other retirement for value by Revlon, Inc. of stock or other equity interests or equivalents in Revlon, Inc. held by any current or former director, employee or consultant in his or her capacity as such; and (d) subject to certain limitations, to make other restricted payments to affiliates of Products Corporation in an amount up to $10 million per year (plus $10 million for each calendar year commencing with 2011), other restricted payments in an aggregate amount not to exceed $35 million and other restricted payments based upon certain financial tests. (iii) creating liens or other encumbrances on Products Corporation's or its subsidiaries' assets or revenues, granting negative pledges or selling or transferring any of Products Corporation's or its subsidiaries' assets, all subject to certain limited exceptions; (iv) with certain exceptions, engaging in merger or acquisition transactions; (v) prepaying indebtedness and modifying the terms of certain indebtedness and specified material contractual obligations, subject to certain exceptions; (vi) making investments, subject to certain exceptions; and (vii) entering into transactions with affiliates of Products Corporation involving aggregate payments or consideration in excess of $10 million other than upon terms that are not materially less favorable when taken as a whole to Products Corporation or its subsidiaries as terms that would be obtainable at the time for a comparable transaction or series of similar transactions in arm's length dealings with an unrelated third person and where such payments or consideration exceed $20 million, unless such transaction has been approved by all of the independent directors of Products Corporation, subject to certain exceptions. The events of default under the 2011 Credit Facilities include customary events of default for such types of agreements, including, among others: (i) nonpayment of any principal, interest or other fees when due, subject in the case of interest and fees to a grace period; (ii) non-compliance with the covenants in such 2011 Credit Facilities or the ancillary security documents, subject in certain instances to grace periods; (iii) the institution of any bankruptcy, insolvency or similar proceedings by or against Products Corporation, any of Products Corporation's subsidiaries or Revlon, Inc., subject in certain instances to grace periods; (iv) default by Revlon, Inc. or any of its subsidiaries (A) in the payment of certain indebtedness when due (whether at maturity or by acceleration) in excess of $25.0 million in aggregate principal amount or (B) in the observance or performance of any other agreement or condition relating to such debt, provided that the amount of debt involved is in excess of $25.0 million in aggregate principal amount, or the occurrence of any other event, the effect of which default referred to in this subclause (iv) is to cause or permit the holders of such debt to cause the acceleration of payment of such debt; (v) in the case of the 2011 Term Loan Facility, a cross default under the 2011 Revolving Credit Facility, and in the case of the 2011 Revolving Credit Facility, a cross default under the 2011 Term Loan Facility; (vi) the failure by Products Corporation, certain of Products Corporation's subsidiaries or Revlon, Inc. to pay certain material judgments; (vii) a change of control such that (A) Revlon, Inc. shall cease to be the beneficial and record owner of 100% of Products Corporation's capital stock, (B) Ronald O. Perelman (or his estate, heirs, executors, administrator or other personal representative) and his or their controlled affiliates shall cease to ''control'' Products Corporation, and any other person or group of persons owns, directly or indirectly, more than 35% of the total voting power of Products Corporation, (C) any person or group of persons other than Ronald O. Perelman (or his estate, heirs, executors, administrator or other personal representative) and his or their controlled affiliates shall ''control'' Products Corporation or (D) during any period of two consecutive years, the directors serving on Products Corporation's Board of Directors at the beginning of such period (or other directors nominated by at least a majority of such continuing directors) shall cease to be a majority of the directors; (viii) Revlon, Inc. shall have any meaningful assets or indebtedness or shall conduct any meaningful business other than its ownership of Products Corporation and such activities as are customary for a publicly-traded holding company which is not itself an operating company, in each case subject to limited exceptions; and (ix) the failure of certain of Products Corporation's affiliates which hold Products Corporation's or its subsidiaries' indebtedness to be party to a valid and enforceable agreement prohibiting such affiliate from demanding or retaining payments in respect of such indebtedness, subject to certain exceptions, including as to Products Corporation's Amended and Restated Senior Subordinated Term Loan. If Products Corporation is in default under the senior secured leverage ratio under the 2011 Term Loan Facility or the consolidated fixed charge coverage ratio under the 2011 Revolving Credit Agreement, Products Corporation may cure such default by issuing certain equity securities to, or receiving capital contributions from, Revlon, Inc. and applying such cash which is deemed to increase EBITDA for the purpose of calculating the applicable ratio. Products Corporation may exercise this cure right two times in any four-quarter period. Products Corporation was in compliance with all applicable covenants under the 2011 Term Loan Agreement and 2011 Revolving Credit Agreement upon closing the respective 2011 Refinancings and as of December 31, 2012 and 2011. At December 31, 2012, the aggregate principal amount outstanding under the 2011 Term Loan Facility was $788 million and availability under the $140.0 million 2011 Revolving Credit Facility, based upon the calculated borrowing base less $10.4 million of outstanding undrawn letters of credit and nil then drawn on the 2011 Revolving Credit Facility, was $129.6 million. |
Long_Term_Debt_Interest_Rate_F
Long Term Debt - Interest Rate For Revolving Credit Facility (Detail) (Amended Revolving Credit Facility [Member]) | 2 Months Ended | 7 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Aug. 13, 2013 | Dec. 31, 2012 | |
Minimum [Member] | ' | ' | ' |
Long Term Debt [Line Items] | ' | ' | ' |
Debt Instrument Basis Spread On Alternative Base Rate | 0.50% | ' | 1.00% |
Debt Instrument, Basis Spread on Variable Rate | 1.50% | 2.00% | 2.00% |
Less than $92,000,000 but greater than $46,000,000 [Member] | ' | ' | ' |
Long Term Debt [Line Items] | ' | ' | ' |
Debt Instrument Basis Spread On Alternative Base Rate | 0.75% | ' | 1.25% |
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ' | 2.25% |
Maximum [Member] | ' | ' | ' |
Long Term Debt [Line Items] | ' | ' | ' |
Debt Instrument Basis Spread On Alternative Base Rate | 1.00% | ' | 1.50% |
Debt Instrument, Basis Spread on Variable Rate | 2.00% | 2.50% | 2.50% |
LongTerm_Debt_Aggregate_Amount
Long-Term Debt - Aggregate Amount Of Contractual Long Term Debt Maturities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
In Millions, unless otherwise specified | ||||
Debt Disclosure [Abstract] | ' | ' | ' | |
2013 | ' | $70.10 | [1] | ' |
2014 | ' | 58.4 | [2] | ' |
2015 | ' | 332.5 | [3] | ' |
2016 | ' | 8 | [4] | ' |
2017 | ' | 756 | [5] | ' |
Thereafter | ' | ' | ' | |
Total long-term debt | ' | 1,225 | ' | |
Discounts | ' | -9.1 | ' | |
Total long-term debt, net of discounts | $1,276.80 | $1,215.90 | $1,222 | |
[1] | Amount refers to (i) a $2.0 million principal repayment on March 31, 2013, as well as the approximately $19.5 million "excess cash flow" payment (as defined under the 2011 Term Loan Agreement), to be made under the 2011 Term Loan Facility prior to April 10, 2013. Such repayment would satisfy Products Corporation's future regularly scheduled term loan amortization payments in the direct order of maturities beginning in June 2013 through September 2015 and (ii) the aggregate principal amount outstanding under the Contributed Loan. Pursuant to the terms of the 2009 Exchange Offer, the maturity date on the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. was extended from August 2010 to October 8, 2013. | |||
[2] | Amount refers to the aggregate principal amount outstanding under the Non-Contributed Loan which matures on October 8, 2014. | |||
[3] | Amount refers to $2.5 million of quarterly amortization payments required under the 2011 Term Loan Facility and the principal balance due on the 9 3/4% Senior Secured Notes which mature on November 15, 2015. The difference between this amount and the carrying amount of the 9 3/4% Senior Secured Notes is due to the issuance of the $330.0 million in aggregate principal amount of the 9 3/4% Senior Secured Notes at a discount, which was priced at 98.9% of par. | |||
[4] | Amount refers to the quarterly amortization payments required under the 2011 Term Loan Facility. Amount excludes amounts available under the 2011 Revolving Credit Facility which matures on June 16, 2016, and which was undrawn as of December 31, 2012. | |||
[5] | Amount refers to the aggregate principal amount expected to be outstanding under the 2011 Term Loan Facility on its November 19, 2017 maturity date. The difference between this amount and the carrying amounts of the 2011 Term Loan Facility is due to the issuance of the $800.0 million in aggregate principal amount of the 2011 Term Loan Facility at a discount, which was priced at 99.5% of par. |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Fair Values of Financial Assets and Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
In Millions, unless otherwise specified | ||||||
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
FX Contracts, assets, derivatives | $0.50 | [1] | $0.10 | [2] | $0.20 | [2] |
Total assets at fair value | 0.5 | 0.1 | 0.2 | |||
FX Contracts, liabilities, derivatives | 0.4 | [1] | 0.4 | [2] | 0.8 | [2] |
Total liabilities at fair value | 0.4 | 0.4 | 0.8 | |||
Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
FX Contracts, assets, derivatives | 0 | [1] | 0 | [2] | 0 | [2] |
Total assets at fair value | 0 | 0 | 0 | |||
FX Contracts, liabilities, derivatives | 0 | [1] | 0 | [2] | 0 | [2] |
Total liabilities at fair value | 0 | 0 | 0 | |||
Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
FX Contracts, assets, derivatives | 0.5 | [1] | 0.1 | [2] | 0.2 | [2] |
Total assets at fair value | 0.5 | 0.1 | 0.2 | |||
FX Contracts, liabilities, derivatives | 0.4 | [1] | 0.4 | [2] | 0.8 | [2] |
Total liabilities at fair value | 0.4 | 0.4 | 0.8 | |||
Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
FX Contracts, assets, derivatives | 0 | [1] | 0 | [2] | 0 | [2] |
Total assets at fair value | 0 | 0 | 0 | |||
FX Contracts, liabilities, derivatives | 0 | [1] | 0 | [2] | 0 | [2] |
Total liabilities at fair value | $0 | $0 | $0 | |||
[1] | The fair value of the Company's FX Contracts was measured based on observable market transactions of spot and forward rates on the respective dates. See Note 10, "Financial Instruments." | |||||
[2] | The fair value of the Company's FX Contracts was measured based on observable market transactions of spot and forward rates at December 31, 2012 and 2011. (See Note 12, "Financial Instruments.") |
Fair_Value_Measurements_Schedu1
Fair Value Measurements - Schedule of Fair Values of Financial Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Level 1 [Member] | ' | ' | ' |
Liabilities: | ' | ' | ' |
Long-term debt, including current portion | $0 | $0 | ' |
Level 2 [Member] | ' | ' | ' |
Liabilities: | ' | ' | ' |
Long-term debt, including current portion | 1,263.30 | 1,245.90 | ' |
Level 3 [Member] | ' | ' | ' |
Liabilities: | ' | ' | ' |
Long-term debt, including current portion | 0 | 0 | ' |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | ' |
Liabilities: | ' | ' | ' |
Long-term debt, including current portion | 1,263.30 | 1,245.90 | 1,240.40 |
Reported Value Measurement [Member] | ' | ' | ' |
Liabilities: | ' | ' | ' |
Long-term debt, including current portion | $1,276.80 | $1,215.90 | $1,222 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Carrying value of debt | $1,263.30 | $1,245.90 | $1,240.40 |
Reported Value Measurement [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Carrying value of debt | $1,276.80 | $1,215.90 | $1,222 |
Financial_Instruments_Addition
Financial Instruments - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2010 | Apr. 30, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | |
FX Contracts [Member] | FX Contracts [Member] | FX Contracts [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | Amended Revolving Credit Facility [Member] | Standby Letters Of Credit Which Support Products Corporations Self Insurance Programs [Member] | Standby Letters Of Credit Which Support Products Corporations Self Insurance Programs [Member] | Standby Letters Of Credit Which Support Products Corporations Self Insurance Programs [Member] | |||||
2011 Revolving Credit Facility Due 2016 [Member] | 2011 Revolving Credit Facility Due 2016 [Member] | Amended Revolving Credit Facility [Member] | |||||||||||||
Fair Value Measurements Of Financial Instruments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Standby and Trade Letters of Credit for Various Corporate Purposes | $10.40 | ' | ' | ' | ' | ' | ' | ' | $10.40 | $11.10 | $9.80 | $8.70 | $9.10 | $8.10 | |
Derivative, Notional Amount | ' | ' | ' | 46.2 | 43.9 | 58.4 | ' | 150 | ' | ' | ' | ' | ' | ' | |
Quarterly fixed interest rate paid to bank on swap | ' | ' | ' | ' | ' | ' | ' | 2.66% | ' | ' | ' | ' | ' | ' | |
Effective fixed interest rate on notional amount | ' | ' | ' | ' | ' | ' | ' | 6.66% | ' | ' | ' | ' | ' | ' | |
Interest rate swap maturity period | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | |
Applicable Margin | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | |
Unrecoginised loss on accumulated other comprehensive earnings | $0 | $0 | ($1.70) | [1] | ' | ' | ' | $0.80 | ' | ' | ' | ' | ' | ' | ' |
[1] | Amounts related to "Deferred Loss - Hedging" in 2010 represent (1) the reclassification of an unrecognized loss of $0.8 million on the 2008 Interest Rate Swap prior to its expiration in April 2010 from Accumulated Other Comprehensive Loss into earnings due to the discontinuance of hedge accounting as a result of the 2010 refinancing of the 2006 bank term loan facility (see Note 12, "Financial Instruments") and (2) the reversal of amounts recorded in Accumulated Other Comprehensive Loss pertaining to the net settlement payment of $0.9 million on the 2008 Interest Rate Swap. |
Financial_Instruments_Fair_Val
Financial Instruments - Fair Value of Derivative Financial Instruments in Consolidated Balance Sheet (Detail) (FX Contracts [Member], Derivatives Not Designated As Hedging Instruments [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
In Millions, unless otherwise specified | ||||||
Prepaid Expenses And Other [Member] | ' | ' | ' | |||
Derivative Asset [Abstract] | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | ' | $0.10 | [1] | $0.20 | [1] | |
Other Current Liabilities [Member] | ' | ' | ' | |||
Derivative Asset [Abstract] | ' | ' | ' | |||
Derivative Liability, Fair Value, Gross Liability | 0.4 | [2] | 0.4 | [1],[2] | 0.8 | [1] |
Prepaid Expenses and Other Current Assets [Member] | ' | ' | ' | |||
Derivative Asset [Abstract] | ' | ' | ' | |||
Derivative Asset, Fair Value, Gross Asset | $0.50 | [2] | $0.10 | [2] | ' | |
[1] | The fair values of the FX Contracts at December 31, 2012 and 2011 were determined by using observable market transactions of spot and forward rates at December 31, 2012 and 2011, respectively. | |||||
[2] | The fair values of the FX Contracts at September 30, 2013 and December 31, 2012 were determined by using observable market transactions of spot and forward rates at September 30, 2013 and December 31, 2012, respectively. |
Financial_Instruments_Effects_
Financial Instruments - Effects of Derivative Financial Instruments on Consolidated statements of Income and Comprehensive Income (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||
Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | FX Contracts [Member] | FX Contracts [Member] | FX Contracts [Member] | FX Contracts [Member] | |||||||
Interest Expense [Member] | Interest Expense [Member] | Interest Expense [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | ||||||||||
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss | Interest Expense [Member] | Interest Expense [Member] | Interest Expense [Member] | Interest Expense [Member] | Interest Expense [Member] | Interest Expense [Member] | Foreign Currency Gain (Loss) [Member] | Foreign Currency Gain (Loss) [Member] | Foreign Currency Gain (Loss) [Member] | Foreign Currency Gain (Loss) [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss | |||||||||||||||||||||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Amount of Gain (Loss) Recognized in Other Comprehensive Income ("OCI") (Effective Portion) | ' | ' | ' | ' | ' | ' | ' | [1] | ' | [1] | ' | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Amount of Gain (Loss) Recognized in Foreign Currency (Gains) Losses, Net/Reclassified from OCI to Income (Ineffective Portion) | ($1.90) | ($1.10) | ($3.10) | ' | ' | ($0.80) | ' | ' | ' | ' | [1] | ' | [1] | ($0.90) | [1] | ' | ' | ' | ' | ' | ($0.80) | ($1.90) | ($1.10) | ($3.10) | ($1) | ($0.90) | $1.30 | ($2) | |||
[1] | Effective March 11, 2010 (the closing date of the 2010 refinancing of the 2006 bank term loan facility), the 2008 Interest Rate Swap, which expired in April 2010, was no longer designated as a cash flow hedge. (See "Interest Rate Swap" in this Note 12). |
Income_Taxes_Income_Before_Inc
Income Taxes - Income Before Income Taxes (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
United States - Income from Continuing operations before income taxes | ' | ' | ' | ' | $108.40 | $58.10 | $40.20 |
Foreign - Income from Continuing operations before income taxes | ' | ' | ' | ' | 7.2 | 40.7 | 48.5 |
Income from continuing operations before income taxes | 23 | 2 | 64.9 | 53.2 | 115.6 | 98.8 | 88.7 |
United States federal - provision for income taxes | ' | ' | ' | ' | 43.1 | 33.2 | -209.2 |
State and local- provision for income taxes | ' | ' | ' | ' | -9.8 | -3.8 | -42.8 |
Foreign- provision for income taxes | ' | ' | ' | ' | 11.5 | 6 | 16.7 |
Provision for (benefit from) income taxes | 13 | 12 | 32.4 | 33.1 | 44.8 | 35.4 | -235.3 |
United States federal - current taxes | ' | ' | ' | ' | 2.3 | 0.8 | 1 |
State and Local - current taxes | ' | ' | ' | ' | 2.2 | 0.7 | -4.5 |
Foreign - current taxes | ' | ' | ' | ' | 10.7 | 21.7 | 15.5 |
Total current income taxes | ' | ' | ' | ' | 15.2 | 23.2 | 12 |
United States federal - deferred taxes | ' | ' | ' | ' | 76 | 60.1 | -197.5 |
State and local - deferred taxes | ' | ' | ' | ' | -5.2 | -1.4 | -35.8 |
Foreign - deferred taxes | ' | ' | ' | ' | 3 | -14.4 | 4.4 |
Total deferred income taxes | ' | ' | ' | ' | 73.8 | 44.3 | -228.9 |
Tax Benefits from Operating Loss Carryforwards | ' | ' | ' | ' | -44.2 | -32.1 | -18.4 |
Provision for (benefit from) income taxes | 13 | 12 | 32.4 | 33.1 | 44.8 | 35.4 | -235.3 |
Domestic Tax Authority [Member] | ' | ' | ' | ' | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Tax Benefits from Operating Loss Carryforwards | ' | ' | ' | ' | -35.2 | -27.7 | -12.7 |
State and Local Jurisdiction [Member] | ' | ' | ' | ' | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Tax Benefits from Operating Loss Carryforwards | ' | ' | ' | ' | -6.8 | -3.1 | -2.5 |
Foreign Tax Authority [Member] | ' | ' | ' | ' | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Tax Benefits from Operating Loss Carryforwards | ' | ' | ' | ' | ($2.20) | ($1.30) | ($3.20) |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Tax Expense to Statutory Federal Income Tax Rate (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Computed expected tax expense | ' | ' | ' | ' | $40.50 | $34.60 | $31 |
State and local taxes, net of U.S. federal income tax benefit | ' | ' | ' | ' | 3.9 | -2.5 | 0.1 |
Foreign and U.S. tax effects attributable to operations outside the U.S. | ' | ' | ' | ' | -3.8 | 3.8 | -5.1 |
Reduction in valuation allowance | ' | ' | ' | ' | -15.8 | -16.9 | -283.7 |
Foreign dividends and earnings taxable in the U.S. | ' | ' | ' | ' | 12.7 | 15.2 | 14.5 |
Restructuring charges for which there is no tax benefit | ' | ' | ' | ' | 7.2 | ' | ' |
Other | ' | ' | ' | ' | 0.1 | 1.2 | 7.9 |
Provision for (benefit from) income taxes | $13 | $12 | $32.40 | $33.10 | $44.80 | $35.40 | ($235.30) |
Income_Taxes_Deferred_taxes_De
Income Taxes - Deferred taxes (Detail) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Deferred Tax Assets - Inventories | $3.60 | $3.50 |
Deferred Tax Assets - Net Operating Loss Carryforwards - U.S. | 143.1 | 176.8 |
Deferred Tax Assets - Net Operating Loss Carryforwards - Foreign | 51.1 | 82.8 |
Deferred Tax Assets - Employee Benefits | 98.9 | 101.1 |
Deferred Tax Assets - State taxes | 2.3 | 2.2 |
Deferred Tax Assets - Sales related reserves | 31.4 | 32.9 |
Deferred Tax Assets - Other | 30.7 | 33 |
Total gross deferred tax assets | 361.1 | 432.3 |
Less valuation allowance | -70.6 | -120 |
Total deferred tax assets, net of valuation allowance | 290.5 | 312.3 |
Deferred tax liabilities - Plant, equipment and other assets | -17 | -17.6 |
Deferred tax liabilities - Foreign currency translation adjustment | -1.1 | -1.8 |
Deferred tax liabilities - Other | -21 | -20.4 |
Total gross deferred tax liabilities | -39.1 | -39.8 |
Net deferred tax assets | $251.40 | $272.50 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Non cash benefit due to release of deferred tax valuation allowance | ' | $15.80 | ' | ' | ' | $15.80 | $16.90 | $248.50 |
Deferred tax valuation allowance | ' | ' | ' | ' | ' | -49.4 | 7.1 | ' |
Tax loss carryforwards | ' | 469.8 | ' | ' | ' | 469.8 | ' | ' |
Tax carryforwards losses expired on 2013 | ' | 14.7 | ' | ' | ' | 14.7 | ' | ' |
Tax carryforwards losses expired on 2014 | ' | 8.6 | ' | ' | ' | 8.6 | ' | ' |
Tax carryforwards losses expired on 2015 | ' | 3.4 | ' | ' | ' | 3.4 | ' | ' |
Tax carryforwards losses expired on 2016 and beyond | ' | 337.7 | ' | ' | ' | 337.7 | ' | ' |
Tax losses carryforwards unlimited years | ' | 105.4 | ' | ' | ' | 105.4 | ' | ' |
Increase in accrued interest and penalties | ' | ' | ' | ' | ' | 0.6 | 1 | ' |
Unrecognized Tax Benefits - Ending balance | ' | 49.9 | ' | ' | ' | 49.9 | 46 | 44.1 |
Accrued interest and penalties | ' | 13.5 | ' | ' | ' | 13.5 | 12.7 | ' |
Unrecognized tax benefit various tax position, Lower bound | ' | 1.6 | ' | ' | ' | 1.6 | ' | ' |
Unrecognized tax benefit various tax position, Upper bound | ' | 1.6 | ' | ' | ' | 1.6 | ' | ' |
Undistributed earnings of foreign subsidiaries | ' | 74.5 | ' | ' | ' | 74.5 | ' | ' |
Payments from affiliate under tax sharing agreement related to prior year | ' | ' | ' | ' | ' | 0.3 | ' | ' |
Payments from affiliate under tax sharing agreement related to current year | ' | ' | ' | ' | ' | 1.8 | 0.6 | ' |
Payments from affiliate under tax sharing agreement expected in following year | ' | ' | ' | ' | ' | 0.1 | ' | ' |
Provision for income taxes | 13 | ' | 12 | 32.4 | 33.1 | 44.8 | 35.4 | -235.3 |
Increase (decrease)in provision for income taxes | 1 | ' | ' | -0.7 | ' | ' | ' | ' |
Federal statutory rate | 35.00% | ' | ' | 35.00% | ' | ' | ' | ' |
Foreign Tax Authority [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Tax loss carryforwards | ' | 204.8 | ' | ' | ' | 204.8 | ' | ' |
Domestic Tax Authority [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Tax loss carryforwards | ' | $265 | ' | ' | ' | $265 | ' | ' |
Income_Taxes_Unrecognized_tax_
Income Taxes - Unrecognized tax benefits (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' |
Unrecognized Tax Benefits - Beginning balance | $46 | $44.10 |
Increase based on tax positions taken in a prior year | 8.5 | 5.1 |
Decrease based on tax positions taken in a prior year | -4.8 | -3.7 |
Increase based on tax positions taken in the current year | 6 | 6.3 |
Decrease related to settlements with taxing authorities and changes in law | ' | -1 |
Decrease resulting from the lapse of statutes of limitations | -5.8 | -4.8 |
Unrecognized Tax Benefits - Ending balance | $49.90 | $46 |
Recovered_Sheet7
Pension and Post-Retirement Benefits - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | ||
Inventories [Member] | Inventories [Member] | Cost of Sales [Member] | Cost of Sales [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Canada [Member] | Pension Plans Revlon [Member] | Pension Plans Revlon [Member] | Pension Plans Revlon [Member] | Pension Plans Revlon [Member] | Pension Plans Revlon [Member] | Pension Plans Revlon [Member] | Pension Plans Revlon [Member] | Other Post-Retirement Benefit Plans [Member] | Other Post-Retirement Benefit Plans [Member] | Other Post-Retirement Benefit Plans [Member] | Other Post-Retirement Benefit Plans [Member] | Other Post-Retirement Benefit Plans [Member] | Other Post-Retirement Benefit Plans [Member] | Other Post-Retirement Benefit Plans [Member] | U.S. Pension Plans [Member] | U.S. Pension Plans [Member] | U.S. Pension Plans [Member] | International Pension Plans [Member] | International Pension Plans [Member] | International Pension Plans [Member] | Savings Plan [Member] | Savings Plan [Member] | Savings Plan [Member] | Savings Plan [Member] | Savings Plan [Member] | Savings Plan [Member] | Savings Plan [Member] | Savings Plan [Member] | ||||||||||
Subsequent Event [Member] | Subsequent Event [Member] | Non Highly Compensated Participants [Member] | Highly Compensated Participants [Member] | |||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Defined Contribution Plan, Employee Maximum Contribution Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | 25.00% | 6.00% | ||
Defined contributions plan employer matching cash contributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.40 | $2.40 | $2.30 | ' | ' | ' | ' | ||
Defined contribution plan employer match percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ||
Discretionary cash contributions to Savings Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.9 | 3.9 | ' | ' | ' | ' | ' | ||
Defined contribution plan discretionary contribution paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 3 | 3 | ' | 0.9 | ' | ' | ' | ||
Defined contribution plan discretionary profit sharing employer percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 3.00% | ' | ' | 3.00% | ' | ' | ||
Decrease in pension liabilities due to curtailment | ' | ' | ' | ' | 1.7 | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | 1.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Pension curtailment gain | ' | ' | ' | ' | 0.2 | [1] | 0 | 1.5 | [2] | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Curtailment gain | ' | ' | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Receivables from affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.9 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Increase (decrease) in defined benefit plan net periodic benefit cost | ' | ' | ' | ' | ' | -4.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Defined benefit plan expected actuarial losses (gains) and prior service costs to be recognized in net periodic benefit cost in subsequent fiscal year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.5 | ' | ' | ' | ' | ' | ' | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Weighted average discount rate on U.S. pension plan projected benefit obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.78% | 4.38% | ' | 4.33% | 4.77% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Weighted-average long-term rate of return on plan assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.75% | 8.00% | 8.25% | 6.22% | 6.25% | 6.50% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Contributions made to benefit plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.2 | ' | 15.4 | ' | 29 | 30.6 | ' | 0.2 | ' | 0.6 | ' | 0.8 | 0.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Expected contributions to benefit plans in next fiscal year | ' | ' | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net periodic benefit costs | -0.1 | 1.3 | -0.3 | 4 | 3.9 | ' | ' | -0.1 | -0.6 | -0.6 | -1.5 | 0.6 | 1.8 | ' | -0.3 | 1.1 | -1 | 3.3 | 2.9 | 3.9 | 8.3 | 0.2 | 0.2 | 0.7 | 0.7 | 1 | 1.1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Expected net periodic benefit costs | ' | ' | -0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Expected contributions to benefit plans | ' | ' | $20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | As a result of the September 2012 Program, the Company recognized a curtailment gain of $1.7 million, partially offset by $0.1 million of accumulated actuarial losses and $0.1 million of prior service costs previously reported within Accumulated Other Comprehensive Loss, for a net gain of $1.5 million, which was recorded within restructuring charges for the year ended December 31, 2012. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). | |||||||||||||||||||||||||||||||||||||||||||
[2] | The Company recognized a $1.5 million curtailment gain in 2010, primarily in connection with the amendments to its Canadian defined benefit pension plan in 2010, which reduced pension liability and was recorded as an offset against the net actuarial losses previously reported within Accumulated Other Comprehensive Loss. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). |
Pension_and_Post_Retirement_Be
Pension and Post Retirement Benefits - Aggregate Reconciliation of Projected Pension and Other Post-Retirement Benefit Plans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Curtailment gain | ' | ' | ' | ' | $1.70 | ' | ' |
Balance, Beginning | ' | ' | ' | 463.8 | 463.8 | ' | ' |
Balance, Ending | ' | ' | ' | ' | 520.2 | ' | ' |
Pension Plans Revlon [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Benefit obligation - beginning of year | ' | ' | -744.6 | -700.5 | -700.5 | -642.3 | ' |
Service cost | -0.3 | -0.4 | -0.7 | -1.2 | -1.6 | -1.2 | -1.5 |
Interest cost | -6.9 | -7.5 | -20.7 | -22.5 | -30 | -32.4 | -33.8 |
Actuarial loss | ' | ' | ' | ' | -51.1 | -62 | ' |
Curtailment gain | ' | ' | ' | ' | 1.7 | ' | ' |
Settlement gain | ' | ' | ' | ' | 0.2 | 0.3 | ' |
Benefits paid | ' | ' | ' | ' | 39 | 36.8 | ' |
Currency translation adjustments | ' | ' | ' | ' | -2.3 | 0.3 | ' |
Plan participant contributions | ' | ' | ' | ' | ' | ' | ' |
Benefit obligation - end of year | ' | ' | ' | ' | -744.6 | -700.5 | -642.3 |
Balance, Beginning | ' | ' | 520.2 | 463.8 | 463.8 | 449.5 | ' |
Actual return on plan assets | ' | ' | ' | ' | 64.2 | 21.3 | ' |
Employer contributions | 8.2 | ' | 15.4 | ' | 29 | 30.6 | ' |
Plan participant contributions | ' | ' | ' | ' | ' | ' | ' |
Benefits paid | ' | ' | ' | ' | -39 | -36.8 | ' |
Settlement gain | ' | ' | ' | ' | -0.2 | -0.3 | ' |
Currency translation adjustments | ' | ' | ' | ' | 2.4 | -0.5 | ' |
Balance, Ending | ' | ' | ' | ' | 520.2 | 463.8 | 449.5 |
Total | ' | ' | ' | ' | -224.4 | -236.7 | ' |
Other Post-Retirement Benefit Plans [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Benefit obligation - beginning of year | ' | ' | -16.5 | -16.1 | -16.1 | -16.1 | ' |
Service cost | 0 | 0 | 0 | 0 | ' | ' | ' |
Interest cost | -0.1 | -0.1 | -0.4 | -0.5 | -0.7 | -0.9 | -0.9 |
Actuarial loss | ' | ' | ' | ' | -0.5 | -0.6 | ' |
Curtailment gain | ' | ' | ' | ' | ' | ' | ' |
Settlement gain | ' | ' | ' | ' | ' | ' | ' |
Benefits paid | ' | ' | ' | ' | 0.8 | 0.9 | ' |
Currency translation adjustments | ' | ' | ' | ' | ' | 0.6 | ' |
Plan participant contributions | ' | ' | ' | ' | ' | ' | ' |
Benefit obligation - end of year | ' | ' | ' | ' | -16.5 | -16.1 | -16.1 |
Balance, Beginning | ' | ' | ' | ' | ' | ' | ' |
Actual return on plan assets | ' | ' | ' | ' | ' | ' | ' |
Employer contributions | 0.2 | ' | 0.6 | ' | 0.8 | 0.9 | ' |
Plan participant contributions | ' | ' | ' | ' | ' | ' | ' |
Benefits paid | ' | ' | ' | ' | -0.8 | -0.9 | ' |
Settlement gain | ' | ' | ' | ' | ' | ' | ' |
Currency translation adjustments | ' | ' | ' | ' | ' | ' | ' |
Balance, Ending | ' | ' | ' | ' | ' | ' | ' |
Total | ' | ' | ' | ' | ($16.50) | ($16.10) | ' |
Pension_and_Post_Retirement_Be1
Pension and Post Retirement Benefits - Saving Plans, Pension and Post Retirement Benefits - Summary of Amount Recognized in Pension Plans and Other Post Retirement Benefit Plans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accrued expenses and other | ($224.80) | ($264.70) | ($230) |
Pension and other post-retirement benefit liabilities | -210.1 | -233.7 | -245.5 |
Accumulated other comprehensive loss | ' | 268.8 | ' |
Income tax benefit | ' | -36.4 | ' |
Portion allocated to Revlon Holdings | ' | -0.9 | ' |
Total | ' | 231.5 | ' |
Pension Plans Revlon [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accrued expenses and other | ' | -6.4 | -6.5 |
Pension and other post-retirement benefit liabilities | ' | -218 | -230.2 |
Total | ' | -224.4 | -236.7 |
Accumulated other comprehensive loss | ' | 264.2 | 250.4 |
Income tax benefit | ' | -35.9 | -28 |
Portion allocated to Revlon Holdings | ' | -0.9 | -0.7 |
Total | ' | 227.4 | 221.7 |
Other Post-Retirement Benefit Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accrued expenses and other | ' | -0.8 | -0.8 |
Pension and other post-retirement benefit liabilities | ' | -15.7 | -15.3 |
Total | ' | -16.5 | -16.1 |
Accumulated other comprehensive loss | ' | 4.6 | 4.4 |
Income tax benefit | ' | -0.5 | -0.2 |
Portion allocated to Revlon Holdings | ' | ' | -0.2 |
Total | ' | $4.10 | $4 |
Pension_and_Post_Retirement_Be2
Pension and Post Retirement Benefits - Fair Value of Plan Asset for pension Plans (Detail) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $520.20 | $463.80 | ' |
Pension Plans Revlon [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation | 744.6 | 700.5 | 642.3 |
Accumulated benefit obligation | 743.6 | 698.8 | ' |
Fair value of plan assets | $520.20 | $463.80 | $449.50 |
Recovered_Sheet8
Pension and Post-Retirement Benefits - Components of Net Periodic Benefit Costs (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Curtailment gain | ' | ' | ' | ' | ($1.50) | ' | ' |
Net periodic benefit costs | -0.1 | 1.3 | -0.3 | 4 | 3.9 | ' | ' |
Pension Plans Revlon [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Service cost | 0.3 | 0.4 | 0.7 | 1.2 | 1.6 | 1.2 | 1.5 |
Interest cost | 6.9 | 7.5 | 20.7 | 22.5 | 30 | 32.4 | 33.8 |
Expected return on plan assets | -9.6 | -8.8 | -28.7 | -26.4 | -35.2 | -35 | -32.1 |
Amortization of prior service cost (credit) | ' | ' | ' | ' | ' | 0.1 | 0.1 |
Amortization of actuarial loss | 2.1 | 2 | 6.4 | 6.1 | 8.1 | 5.3 | 5.1 |
Curtailment gain | ' | ' | ' | ' | -1.5 | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost Before Portion Allocated To Affiliate | -0.3 | 1.1 | -0.9 | 3.4 | 3 | 4 | 8.4 |
Defined Benefit Plan Net Periodic Benefit Cost Portion Allocated To Affiliate | 0 | 0 | -0.1 | -0.1 | -0.1 | -0.1 | -0.1 |
Net periodic benefit costs | -0.3 | 1.1 | -1 | 3.3 | 2.9 | 3.9 | 8.3 |
Other Post-Retirement Benefit Plans [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Service cost | 0 | 0 | 0 | 0 | ' | ' | ' |
Interest cost | 0.1 | 0.1 | 0.4 | 0.5 | 0.7 | 0.9 | 0.9 |
Expected return on plan assets | 0 | 0 | 0 | 0 | ' | ' | ' |
Amortization of prior service cost (credit) | ' | ' | ' | ' | ' | ' | ' |
Amortization of actuarial loss | 0.1 | 0.1 | 0.3 | 0.2 | 0.3 | 0.3 | 0.2 |
Curtailment gain | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost Before Portion Allocated To Affiliate | 0.2 | 0.2 | 0.7 | 0.7 | 1 | 1.2 | 1.1 |
Defined Benefit Plan Net Periodic Benefit Cost Portion Allocated To Affiliate | 0 | 0 | 0 | 0 | ' | -0.1 | -0.1 |
Net periodic benefit costs | $0.20 | $0.20 | $0.70 | $0.70 | $1 | $1.10 | $1 |
Pension_and_Post_Retirement_Be3
Pension and Post Retirement Benefits - Unrecognized Component of Net Periodic Benefit Cost (Detail) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | $268.80 | ' |
Prior service cost | ' | ' |
Total before income tax | 268.8 | ' |
Income tax benefit | -36.4 | ' |
Portion allocated to Revlon Holdings | -0.9 | ' |
Total after income tax | 231.5 | ' |
Pension Plans Revlon [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | 264.2 | ' |
Prior service cost | ' | ' |
Total before income tax | 264.2 | 250.4 |
Income tax benefit | -35.9 | -28 |
Portion allocated to Revlon Holdings | -0.9 | -0.7 |
Total after income tax | 227.4 | 221.7 |
Other Post-Retirement Benefit Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | 4.6 | ' |
Prior service cost | ' | ' |
Total before income tax | 4.6 | 4.4 |
Income tax benefit | -0.5 | -0.2 |
Portion allocated to Revlon Holdings | ' | -0.2 |
Total after income tax | $4.10 | $4 |
Pension_and_Post_Retirement_Be4
Pension and Post Retirement Benefits - Weighted Average Assumptions used to Determine Projected Benefit Obligation (Detail) | Dec. 31, 2012 | Dec. 31, 2011 |
U.S. Pension Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 3.78% | 4.38% |
Rate of future compensation increases | 3.00% | 3.50% |
International Pension Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 4.33% | 4.77% |
Rate of future compensation increases | 2.97% | 3.05% |
Pension_and_Post_Retirement_Be5
Pension and Post Retirement Benefits - Weighted Average Assumptions used to Determine Net Periodic Benefit Cost (Detail) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
U.S. Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 4.38% | 5.17% | 5.68% |
Expected long-term return on plan assets | 7.75% | 8.00% | 8.25% |
Rate of future compensation increases | 3.50% | 3.50% | 3.50% |
International Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 4.77% | 5.32% | 5.63% |
Expected long-term return on plan assets | 6.22% | 6.25% | 6.50% |
Rate of future compensation increases | 3.05% | 3.53% | 4.39% |
Pension_and_Post_Retirement_Be6
Pension and Post Retirement Benefits - Weighted Average Risk Target Ranges Per Asset (Detail) | 12 Months Ended |
Dec. 31, 2012 | |
Common and preferred stock [Member] | International Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | ' |
Mutual funds [Member] | International Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | ' |
Fixed income securities [Member] | International Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | ' |
Common and collective funds [Member] | International Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 100.00% |
Hedge funds [Member] | International Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | ' |
Group annuity contract [Member] | International Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | ' |
Cash and other investments [Member] | International Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | ' |
Minimum [Member] | Common and preferred stock [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 0.00% |
Minimum [Member] | Mutual funds [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 20.00% |
Minimum [Member] | Fixed income securities [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 10.00% |
Minimum [Member] | Common and collective funds [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 25.00% |
Minimum [Member] | Hedge funds [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 0.00% |
Minimum [Member] | Group annuity contract [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 0.00% |
Minimum [Member] | Cash and other investments [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 0.00% |
Maximum [Member] | Common and preferred stock [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 10.00% |
Maximum [Member] | Mutual funds [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 30.00% |
Maximum [Member] | Fixed income securities [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 30.00% |
Maximum [Member] | Common and collective funds [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 55.00% |
Maximum [Member] | Hedge funds [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 15.00% |
Maximum [Member] | Group annuity contract [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 5.00% |
Maximum [Member] | Cash and other investments [Member] | U.S. Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target Range for Asset Class | 10.00% |
Pension_and_Post_Retirement_Be7
Pension and Post Retirement Benefits - Fair Value of Pension Plan Assets (Detail) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | $520.20 | $463.80 |
U.S. Pension Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 461.9 | 413.7 |
International Pension Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | $58.30 | $50.10 |
Pension_and_Post_Retirement_Be8
Pension and Post Retirement Benefits - Fair values of U.S. and International pension plan assets (Detail) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $520.20 | $463.80 | ' |
Group annuity contract [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2.3 | 2.1 | ' |
U S Small Mid Cap Equity [Member] | Common and preferred stock [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 18.9 | 15.7 | ' |
U S Small Mid Cap Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 17.7 | 14.5 | ' |
Corporate Bond Securities [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 19.4 | 23.1 | ' |
Corporate Bond Securities [Member] | Fixed income securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 49.8 | 86.1 | ' |
Corporate Bond Securities [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 57 | 31.7 | ' |
Corporate Bond Securities [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4.2 | ' | ' |
Government Bond [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 16 | 10.1 | ' |
Government Bond [Member] | Fixed income securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 9.9 | 30.4 | ' |
Government Bond [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 70.2 | 28.5 | ' |
Government Bond [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 30.9 | 23.9 | ' |
U S Large Cap Equity Securities [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 63.2 | 53.9 | ' |
U S Large Cap Equity Securities [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 27 | 18.7 | ' |
U S Large Cap Equity Securities [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4.6 | 1.9 | ' |
International Equity [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4.6 | 1.6 | ' |
International Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 74.3 | 64.3 | ' |
International Equity [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3.1 | 3.5 | ' |
Emerging Markets International Equity [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 5 | 3.8 | ' |
Emerging Markets International Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 17.7 | 15.2 | ' |
Other Plan Assets [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3.6 | 3.7 | ' |
Other Plan Assets [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 1.1 | 4.5 | ' |
Other Plan Assets [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3.8 | 4.3 | ' |
Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 6.9 | 15.8 | ' |
Cash and Cash Equivalents [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3 | 0.8 | ' |
Cash and Cash Equivalents [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 6 | 0.7 | ' |
FX Contracts [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | 5 | ' |
Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 137.6 | 128.4 | ' |
Level 1 [Member] | Group annuity contract [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | U S Small Mid Cap Equity [Member] | Common and preferred stock [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 18.9 | 15.7 | ' |
Level 1 [Member] | U S Small Mid Cap Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Corporate Bond Securities [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 19.4 | 23.1 | ' |
Level 1 [Member] | Corporate Bond Securities [Member] | Fixed income securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Corporate Bond Securities [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Corporate Bond Securities [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Government Bond [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 16 | 10.1 | ' |
Level 1 [Member] | Government Bond [Member] | Fixed income securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Government Bond [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Government Bond [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | U S Large Cap Equity Securities [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 63.2 | 53.9 | ' |
Level 1 [Member] | U S Large Cap Equity Securities [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | U S Large Cap Equity Securities [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | International Equity [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4.6 | 1.6 | ' |
Level 1 [Member] | International Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | International Equity [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Emerging Markets International Equity [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 5 | 3.8 | ' |
Level 1 [Member] | Emerging Markets International Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Other Plan Assets [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3.6 | 3.7 | ' |
Level 1 [Member] | Other Plan Assets [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Other Plan Assets [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 6.9 | 15.8 | ' |
Level 1 [Member] | Cash and Cash Equivalents [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 1 [Member] | Cash and Cash Equivalents [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | 0.7 | ' |
Level 1 [Member] | FX Contracts [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 382 | 335.4 | ' |
Level 2 [Member] | Group annuity contract [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2.3 | 2.1 | ' |
Level 2 [Member] | U S Small Mid Cap Equity [Member] | Common and preferred stock [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | U S Small Mid Cap Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 17.7 | 14.5 | ' |
Level 2 [Member] | Corporate Bond Securities [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Corporate Bond Securities [Member] | Fixed income securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 49.2 | 86.1 | ' |
Level 2 [Member] | Corporate Bond Securities [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 57 | 31.7 | ' |
Level 2 [Member] | Corporate Bond Securities [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4.2 | ' | ' |
Level 2 [Member] | Government Bond [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Government Bond [Member] | Fixed income securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 9.9 | 30.4 | ' |
Level 2 [Member] | Government Bond [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 70.2 | 28.5 | ' |
Level 2 [Member] | Government Bond [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 30.9 | 23.9 | ' |
Level 2 [Member] | U S Large Cap Equity Securities [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | U S Large Cap Equity Securities [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 27 | 18.7 | ' |
Level 2 [Member] | U S Large Cap Equity Securities [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4.6 | 1.9 | ' |
Level 2 [Member] | International Equity [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | International Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 74.3 | 64.3 | ' |
Level 2 [Member] | International Equity [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3.1 | 3.5 | ' |
Level 2 [Member] | Emerging Markets International Equity [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Emerging Markets International Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 17.7 | 15.2 | ' |
Level 2 [Member] | Other Plan Assets [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Other Plan Assets [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 1.1 | 4.5 | ' |
Level 2 [Member] | Other Plan Assets [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3.8 | 4.3 | ' |
Level 2 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 2 [Member] | Cash and Cash Equivalents [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3 | 0.8 | ' |
Level 2 [Member] | Cash and Cash Equivalents [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 6 | ' | ' |
Level 2 [Member] | FX Contracts [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | 5 | ' |
Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0.6 | ' | 13.5 |
Level 3 [Member] | Fixed income securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0.6 | ' | 0.1 |
Level 3 [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | 13.4 |
Level 3 [Member] | Group annuity contract [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U S Small Mid Cap Equity [Member] | Common and preferred stock [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U S Small Mid Cap Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Corporate Bond Securities [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Corporate Bond Securities [Member] | Fixed income securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 0.6 | ' | ' |
Level 3 [Member] | Corporate Bond Securities [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Corporate Bond Securities [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Government Bond [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Government Bond [Member] | Fixed income securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Government Bond [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Government Bond [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U S Large Cap Equity Securities [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U S Large Cap Equity Securities [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | U S Large Cap Equity Securities [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | International Equity [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | International Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | International Equity [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Emerging Markets International Equity [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Emerging Markets International Equity [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Other Plan Assets [Member] | Mutual funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Other Plan Assets [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Other Plan Assets [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Cash and Cash Equivalents [Member] | Common and collective funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | Cash and Cash Equivalents [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Level 3 [Member] | FX Contracts [Member] | Hedge funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Pension_and_Post_Retirement_Be9
Pension and Post Retirement Benefits - Summary of changes in fair values of U.S. and International pension plans (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Ending | $520.20 | $463.80 |
Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning | ' | 13.5 |
Actual return on plan assets sold during the year | ' | -0.1 |
Purchases, sales, and settlements, net | 0.6 | -13.4 |
Balance, Ending | 0.6 | ' |
Fixed income securities [Member] | Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning | ' | 0.1 |
Actual return on plan assets sold during the year | ' | ' |
Purchases, sales, and settlements, net | 0.6 | -0.1 |
Balance, Ending | 0.6 | ' |
Hedge funds [Member] | Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning | ' | 13.4 |
Actual return on plan assets sold during the year | ' | -0.1 |
Purchases, sales, and settlements, net | ' | -13.3 |
Balance, Ending | ' | ' |
Recovered_Sheet9
Pension and Post Retirement Benefits - Estimated Future Benefit Payments (Detail) (USD $) | Dec. 31, 2012 |
In Millions, unless otherwise specified | |
Pension Plans Revlon [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2013 | $39.90 |
2014 | 40.9 |
2015 | 41.6 |
2016 | 42.4 |
2017 | 43.1 |
Years 2018 to 2022 | 226.3 |
Other Post-Retirement Benefit Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2013 | 1.3 |
2014 | 1.3 |
2015 | 1.3 |
2016 | 1.3 |
2017 | 1.3 |
Years 2018 to 2022 | $6.10 |
Stock_Compensation_Plan_Additi
Stock Compensation Plan - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Options Vesting Period Range - Start | ' | ' | '1 year | ' | ' |
Options Vesting Period Range - End | ' | ' | '4 years | ' | ' |
Stock options exercisable | ' | ' | 8,105 | 264,509 | 987,886 |
Restricted stock awards, Expense | $0 | $0.30 | $0.30 | $1.90 | $3.60 |
Options Granted on June 4, 2004 and Thereafter [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Options expiration term | ' | ' | '7 years | ' | ' |
Options Granted Prior to June 4, 2004 [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Options expiration term | ' | ' | '10 years | ' | ' |
Restricted Stock [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Restricted stock awards Service period, Minimum | ' | ' | '1 year 6 months | ' | ' |
Restricted Stock awards service period, maximum | ' | ' | '3 years | ' | ' |
Restricted stock awards, Expense | ' | ' | 0.3 | 1.9 | 3.6 |
Deferred stock-based compensation | ' | ' | 0 | 0.3 | ' |
Total fair value of restricted sock and restricted stock units that vested during the period | ' | ' | $3.70 | $4.20 | ' |
Stock_Compensation_Plan_Summar
Stock Compensation Plan - Summary of Stock Option Activity (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Stock Options Outstanding - Beginning balance | 264,500 | 987,900 | 1,231,300 |
Forfeited and expired, Stock Options | -256,400 | -723,400 | -243,400 |
Stock Options Outstanding - Ending Balance | 8,100 | 264,500 | 987,900 |
Stock Options Outstanding - Beginning Balance Weighted Average Exercise Price | $31.02 | $31.68 | $33.17 |
Stock Options Outstanding - Forfeited and expired Weighted Average Exercise Price | $31.06 | $31.92 | $39.22 |
Stock Options Outstanding - Ending Balance Weighted Average Exercise Price | $29.91 | $31.02 | $31.68 |
Stock_Compensation_Plan_Summar1
Stock Compensation Plan - Summary Significant Ranges of Stock Plan's Stock Options Outstanding and Exercisable (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2012 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Range of Exercise Prices, minimum | $27.50 |
Range of Exercise Prices, maximum | $30.60 |
Number of Options | 8,100 |
Weighted Average Years Remaining | '6 months |
Weighted Average Exercise Price | $29.91 |
Aggregate Intrinsic Value | ' |
Stock_Compensation_Plan_Summar2
Stock Compensation Plan - Summary of Restricted Stock and Restricted Stock Units Activity (Detail) (Restricted Stock [Member], USD $) | 12 Months Ended | |||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||
Restricted Stock [Member] | ' | ' | ' | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |||
Restricted stock outstanding - Beginning balance | 257,400 | 690,700 | 1,141,400 | |||
Vested | -257,400 | [1] | -419,500 | [1] | -430,200 | [1] |
Forfeited | ' | -13,800 | -20,500 | |||
Restricted stock outstanding - Ending balance | ' | 257,400 | 690,700 | |||
Restricted stock outstanding - Beginning balance weighted average exercise price | $7.04 | $8.20 | $8.48 | |||
Restricted stock - vested in period weighted average exercise price | $7.04 | [1] | $8.95 | [1] | $8.94 | [1] |
Restricted stock - Forfeited in period weighted average exercise price | ' | $7.15 | $8.13 | |||
Restricted stock outstanding - Ending balance weighted average exercise price | ' | $7.04 | $8.20 | |||
[1] | Of the amounts vested during 2012, 2011 and 2010, 83,582; 138,433; and 147,161 shares, respectively, were withheld by the Company to satisfy certain grantees' minimum withholding tax requirements, which withheld shares became Revlon, Inc. treasury stock and are not sold on the open market. |
Stock_Compensation_Plan_Summar3
Stock Compensation Plan - Summary of Restricted Stock and Restricted Stock Units Activity (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Treasury stock authorized to satisfy minimum statutory tax withholding requirements | 83,582 | 138,433 | 147,161 |
Recovered_Sheet10
Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||||
Beginning Balance | ' | ' | ($208.20) | ($200.90) | ($200.90) | ($150.30) | ($157.90) | |||||||
Currency translation adjustment, net of tax | 1.1 | [1] | -1.9 | [1] | -3.6 | [1] | 0.3 | [1] | -1.5 | [2] | -8.3 | [2] | 7.4 | [2] |
Reclassifications into net income | ' | ' | ' | ' | 0 | 0 | 1.7 | [3] | ||||||
Amortization of pension related costs, net of tax | 2 | [4],[5] | 1.8 | [4],[5] | 5.8 | [4],[5] | 7.5 | [4],[5] | 9.4 | [6],[7],[8] | 3.6 | [6],[7] | 5.4 | [6],[7] |
Pension re-measurement | ' | ' | ' | ' | -15.4 | [9] | -45.9 | [9] | -8.4 | [9] | ||||
Pension curtailment gain | ' | ' | ' | ' | 0.2 | [10] | 0 | 1.5 | [11] | |||||
Ending Balance | -206 | ' | -206 | ' | -208.2 | -200.9 | -150.3 | |||||||
Other comprehensive (loss) income | 3.1 | -0.1 | 2.2 | [12] | 7.8 | -7.3 | [13] | -50.6 | [13] | 7.6 | [13] | |||
Foreign Currency Translation [Member] | ' | ' | ' | ' | ' | ' | ' | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||||
Beginning Balance | ' | ' | 23.3 | 24.8 | 24.8 | 33.1 | 25.7 | |||||||
Currency translation adjustment, net of tax | ' | ' | -3.6 | ' | -1.5 | -8.3 | 7.4 | |||||||
Reclassifications into net income | ' | ' | ' | ' | ' | ' | ' | [3] | ||||||
Amortization of pension related costs, net of tax | ' | ' | 0 | ' | ' | [7],[8] | ' | [7] | ' | [7] | ||||
Pension re-measurement | ' | ' | ' | ' | ' | ' | ' | |||||||
Pension curtailment gain | ' | ' | ' | ' | ' | [10] | ' | ' | [11] | |||||
Ending Balance | 19.7 | ' | 19.7 | ' | 23.3 | 24.8 | 33.1 | |||||||
Other comprehensive (loss) income | ' | ' | -3.6 | ' | ' | ' | ' | |||||||
Actuarial (Loss) Gain on Post-retirement Benefits [Member] | ' | ' | ' | ' | ' | ' | ' | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||||
Beginning Balance | ' | ' | -231.5 | -225.6 | -225.6 | -183.2 | -181.6 | |||||||
Currency translation adjustment, net of tax | ' | ' | 0 | ' | ' | ' | ' | |||||||
Reclassifications into net income | ' | ' | ' | ' | ' | ' | ' | [3] | ||||||
Amortization of pension related costs, net of tax | ' | ' | 5.8 | ' | 9.4 | [7],[8] | 3.5 | [7] | 5.3 | [7] | ||||
Pension re-measurement | ' | ' | ' | ' | -15.4 | -45.9 | -8.4 | |||||||
Pension curtailment gain | ' | ' | ' | ' | 0.1 | [10] | ' | 1.5 | [11] | |||||
Ending Balance | -225.7 | ' | -225.7 | ' | -231.5 | -225.6 | -183.2 | |||||||
Other comprehensive (loss) income | ' | ' | 5.8 | ' | ' | ' | ' | |||||||
Prior Service Cost on Post-retirement Benefits [Member] | ' | ' | ' | ' | ' | ' | ' | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||||
Beginning Balance | ' | ' | ' | -0.1 | -0.1 | -0.2 | -0.3 | |||||||
Currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | |||||||
Reclassifications into net income | ' | ' | ' | ' | ' | ' | ' | [3] | ||||||
Amortization of pension related costs, net of tax | ' | ' | ' | ' | ' | [7],[8] | 0.1 | [7] | 0.1 | [7] | ||||
Pension re-measurement | ' | ' | ' | ' | ' | ' | ' | |||||||
Pension curtailment gain | ' | ' | ' | ' | 0.1 | [10] | ' | ' | [11] | |||||
Ending Balance | ' | ' | ' | ' | ' | -0.1 | -0.2 | |||||||
Designated as Hedging Instrument [Member] | ' | ' | ' | ' | ' | ' | ' | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||||
Beginning Balance | ' | ' | ' | ' | ' | ' | -1.7 | |||||||
Currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | |||||||
Reclassifications into net income | ' | ' | ' | ' | ' | ' | 1.7 | [3] | ||||||
Amortization of pension related costs, net of tax | ' | ' | ' | ' | ' | [7],[8] | ' | [7] | ' | [7] | ||||
Pension re-measurement | ' | ' | ' | ' | ' | ' | ' | |||||||
Pension curtailment gain | ' | ' | ' | ' | ' | [10] | ' | ' | [11] | |||||
Ending Balance | ' | ' | ' | ' | ' | ' | ' | |||||||
[1] | Net of tax expense (benefit) of $0.9 million and $(0.7) million for the three months ended September 30, 2013 and 2012, respectively, and $3.2 million and $0.7 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||
[2] | Net of tax of $1.0 million, $1.8 million and nil for the years ended December 31, 2012, 2011 and 2010, respectively. | |||||||||||||
[3] | Amounts related to "Deferred Loss - Hedging" in 2010 represent (1) the reclassification of an unrecognized loss of $0.8 million on the 2008 Interest Rate Swap prior to its expiration in April 2010 from Accumulated Other Comprehensive Loss into earnings due to the discontinuance of hedge accounting as a result of the 2010 refinancing of the 2006 bank term loan facility (see Note 12, "Financial Instruments") and (2) the reversal of amounts recorded in Accumulated Other Comprehensive Loss pertaining to the net settlement payment of $0.9 million on the 2008 Interest Rate Swap. | |||||||||||||
[4] | Net of tax benefit of $(0.2) million for the three months ended September 30, 2013 and 2012 and $(0.9) million and $(0.7) million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||
[5] | This other comprehensive income component is included in the computation of net periodic benefit (income) costs. See Note 2, "Pension and Post-Retirement Benefits," for additional information regarding net periodic benefit (income) costs. | |||||||||||||
[6] | Net of tax of $(1.0) million, $(2.0) million and nil for the years ended December 31, 2012, 2011 and 2010, respectively. | |||||||||||||
[7] | Amounts represent the change in Accumulated Other Comprehensive Loss as a result of the amortization of unrecognized prior service costs and actuarial losses (gains) arising during each year related to the Company's pension and other post-retirement plans. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). | |||||||||||||
[8] | Included in this amount is a $2.0 million reclassification adjustment recorded in the first quarter of 2012 related to deferred taxes on the amortization of actuarial losses. | |||||||||||||
[9] | Net of tax of $7.2 million, $30.1 million and nil for the years ended December 31, 2012, 2011 and 2010, respectively. | |||||||||||||
[10] | As a result of the September 2012 Program, the Company recognized a curtailment gain of $1.7 million, partially offset by $0.1 million of accumulated actuarial losses and $0.1 million of prior service costs previously reported within Accumulated Other Comprehensive Loss, for a net gain of $1.5 million, which was recorded within restructuring charges for the year ended December 31, 2012. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). | |||||||||||||
[11] | The Company recognized a $1.5 million curtailment gain in 2010, primarily in connection with the amendments to its Canadian defined benefit pension plan in 2010, which reduced pension liability and was recorded as an offset against the net actuarial losses previously reported within Accumulated Other Comprehensive Loss. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). | |||||||||||||
[12] | See Note 7, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive income during the first nine months of 2013. | |||||||||||||
[13] | See Note 16, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of accumulated other comprehensive loss during the years ended December 31, 2012, 2011 and 2010. |
Recovered_Sheet11
Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Parenthetical) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2010 | ||||||||
Interest Rate Swap [Member] | Interest Rate Swap [Member] | Foreign Currency Translation [Member] | Foreign Currency Translation [Member] | Foreign Currency Translation [Member] | Actuarial (Loss) Gain on Post-retirement Benefits [Member] | Actuarial (Loss) Gain on Post-retirement Benefits [Member] | Actuarial (Loss) Gain on Post-retirement Benefits [Member] | Actuarial (Loss) Gain on Post-retirement Benefits [Member] | Prior Service Cost on Post-retirement Benefits [Member] | Prior Service Cost on Post-retirement Benefits [Member] | ||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Currency translation adjustment, tax | $0.90 | ($0.70) | $3.20 | $0.70 | $1 | $1.80 | $0 | ' | ' | $1 | $1.80 | ' | ' | ' | ' | ' | ' | ' | ||||||||
Amortization of pension related costs, tax benefit | -0.2 | -0.2 | -0.9 | -0.7 | -1 | -2 | 0 | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ' | ' | ||||||||
Pension re-measurement, tax | ' | ' | ' | ' | 7.2 | 30.1 | 0 | ' | ' | ' | ' | ' | ' | 7.2 | 30.1 | ' | ' | ' | ||||||||
Unrecognized loss on Interest Rate Swap | ' | ' | ' | ' | 0 | 0 | -1.7 | [1] | 0.8 | ' | ' | ' | ' | [1] | ' | ' | ' | ' | [1] | ' | ' | [1] | ||||
Net settlement payment on Interest Rate Swap | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Pension curtailment gain | ' | ' | ' | ' | 0.2 | [2] | 0 | 1.5 | [3] | ' | ' | ' | [2] | ' | ' | [3] | ' | 0.1 | [2] | ' | 1.5 | [3] | 0.1 | [2] | ' | [3] |
Decrease in pension liabilities due to curtailment | ' | ' | ' | ' | 1.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Curtailment gain | ' | ' | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Reclassification adjustment related to deferred taxes on amortization of actuarial losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | ' | ' | ' | ' | ' | ||||||||
[1] | Amounts related to "Deferred Loss - Hedging" in 2010 represent (1) the reclassification of an unrecognized loss of $0.8 million on the 2008 Interest Rate Swap prior to its expiration in April 2010 from Accumulated Other Comprehensive Loss into earnings due to the discontinuance of hedge accounting as a result of the 2010 refinancing of the 2006 bank term loan facility (see Note 12, "Financial Instruments") and (2) the reversal of amounts recorded in Accumulated Other Comprehensive Loss pertaining to the net settlement payment of $0.9 million on the 2008 Interest Rate Swap. | |||||||||||||||||||||||||
[2] | As a result of the September 2012 Program, the Company recognized a curtailment gain of $1.7 million, partially offset by $0.1 million of accumulated actuarial losses and $0.1 million of prior service costs previously reported within Accumulated Other Comprehensive Loss, for a net gain of $1.5 million, which was recorded within restructuring charges for the year ended December 31, 2012. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). | |||||||||||||||||||||||||
[3] | The Company recognized a $1.5 million curtailment gain in 2010, primarily in connection with the amendments to its Canadian defined benefit pension plan in 2010, which reduced pension liability and was recorded as an offset against the net actuarial losses previously reported within Accumulated Other Comprehensive Loss. (See Note 14, "Savings Plan, Pension and Post-retirement Benefits"). |
Recovered_Sheet12
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Rental expense | $16.70 | $17.70 | $16.90 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Schedule of Minimum Rental Commitments Under Noncancelable Leases (Detail) (USD $) | Dec. 31, 2012 |
In Millions, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Minimum Rental Commitments - Capital leases, Total | $5.60 |
Minimum Rental Commitments - Capital leases, 2013 | 2.5 |
Minimum Rental Commitments - Capital leases, 2014 | 1.9 |
Minimum Rental Commitments - Capital leases, 2015 | 0.9 |
Minimum Rental Commitments - Capital leases, 2016 | 0.3 |
Minimum Rental Commitments - Capital leases, 2017 | ' |
Minimum Rental Commitments - Capital leases, Thereafter | ' |
Minimum Rental Commitments - Operating leases, Total | 62.8 |
Minimum Rental Commitments - Operating leases, 2013 | 18.1 |
Minimum Rental Commitments - Operating leases, 2014 | 13.5 |
Minimum Rental Commitments - Operating leases, 2015 | 6.6 |
Minimum Rental Commitments - Operating leases, 2016 | 5.9 |
Minimum Rental Commitments - Operating leases, 2017 | 3.4 |
Minimum Rental Commitments - Operating leases, Thereafter | $15.30 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | ||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 |
Reimbursement Agreement [Member] | Reimbursement Agreement [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | Revlon Holdings - Transfer Agreement [Member] | Revlon Holdings - Transfer Agreement [Member] | Revlon Holdings - Transfer Agreement [Member] | Revlon Holdings - Edison Lease [Member] | Revlon Holdings - Edison Lease [Member] | Revlon Holdings - Edison Lease [Member] | Reimbursements [Member] | Reimbursements [Member] | Reimbursements [Member] | Reimbursements [Member] | Reimbursements [Member] | |||||
2011 Credit Agreement [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage voting power of capital stock held by affiliate | ' | 77.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock outstanding | ' | 5,260 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total amount paid (reimbursed) | ' | ' | ' | ' | ' | ' | ' | $0.30 | $0.30 | $0.30 | $0.10 | $0.10 | $0.30 | $6.10 | $15 | ' | ' | ' |
Receivable from affiliate | ' | ' | ' | ' | 0.1 | 0 | ' | 0.1 | 0.1 | ' | ' | ' | ' | 0 | ' | ' | 0.1 | ' |
Reimbursement Agreements termination period | '90 days | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net activity under reimbursement agreement | ' | 14.9 | -0.5 | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partial Pre Payment For Premiums Related To D And O Insurance Program | ' | 14.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.1 | ' | 14.6 |
Insurance program renewal term period | 'January 31, 2012 through January 31, 2017 | 'January 31, 2012 through January 31, 2017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance Program Renewal Period | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity period of lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' |
Annual rent on lease | ' | 16.7 | 17.7 | 16.9 | ' | ' | ' | ' | ' | ' | 1.4 | ' | ' | ' | ' | ' | ' | ' |
Lease and operating expenses maximum annual limit under agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | ' | ' | ' | ' | ' | ' | ' |
Capital stock of product corporation's domestic and its domestic subsidiaries' first-tier foreign subsidiaries securing guarantee | ' | ' | ' | ' | ' | ' | 66.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet13
Quarterly Results of Operations - Unaudited Quarterly Results of Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | $339.40 | $391.30 | $347 | $357.10 | $330.70 | $359.80 | $337.20 | $351.20 | $333.20 | $1,021.40 | $1,034.80 | $1,426.10 | $1,381.40 | $1,321.40 | ||||||||
Gross profit | 215.6 | 251.9 | 220 | 232.7 | 215 | 225.5 | 214.1 | 229.3 | 219.9 | 655.9 | 667.7 | 919.6 | 888.8 | 866.1 | ||||||||
Income (loss) from continuing operations, net of taxes | 10 | 50.7 | [1],[2] | -10 | [1],[2] | 20.1 | [1],[2] | 10 | [1],[2] | 38.9 | [3] | 5.3 | [3] | 7.2 | [3] | 12 | [3] | 32.5 | 20.1 | 70.8 | 63.4 | 324 |
Income from discontinued operations, net of taxes | 0 | 0 | 0 | 0.4 | 0 | ' | ' | 0.6 | ' | 0.3 | 0.4 | 0.4 | 0.6 | 0.3 | ||||||||
Net income (loss) | $10 | $50.70 | [1],[2] | ($10) | [1],[2] | $20.50 | [1],[2] | $10 | [1],[2] | $38.90 | [3] | $5.30 | [3] | $7.80 | [3] | $12 | [3] | $32.80 | $20.50 | $71.20 | $64 | $324.30 |
[1] | Loss from continuing operations and net loss for the third quarter of 2012 were unfavorably impacted by $24.1 million in restructuring and related charges recorded as a result of the September 2012 Program (See Note 3, "Restructuring Charges"). | |||||||||||||||||||||
[2] | Income from continuing operations and net income for the fourth quarter of 2012 were favorably impacted by an increase in net income driven by a non-cash benefit of $15.8 million related to the reduction of the Company's deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions in the U.S. at December 31, 2012, as a result of the Company's improved earnings trends and cumulative taxable income in those jurisdictions, which is reflected in the provision for income taxes (See Note 13, "Income Taxes"). | |||||||||||||||||||||
[3] | Income from continuing operations and net income for the fourth quarter of 2011 were favorably impacted by an increase in net income driven by a non-cash benefit of $16.9 million related to the reduction of the Company's deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions outside the U.S. at December 31, 2011 as a result of the Company's improved earnings trends and cumulative taxable income in those jurisdictions. (See Note 13, "Income Taxes"). |
Recovered_Sheet14
Quarterly Results of Operations - Unaudited Quarterly Results of Operations (Parenthetical) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Quarterly Results Of Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges and other, net | ($1.50) | ' | $21 | $1.80 | $21 | $20.70 | $0 | ($0.30) |
Non cash benefit due to reversal of deferred tax valuation allowance | ' | 15.8 | ' | ' | ' | 15.8 | 16.9 | 248.5 |
2012 Restructuring Program [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Results Of Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges and other, net | ' | ' | $24.10 | $2.20 | ' | $24.10 | ' | ' |
Recovered_Sheet15
Geographic, Financial and Other Information - Additional Information (Detail) | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Segment | Segment | Walmart [Member] | Walmart [Member] | Walmart [Member] | |
Country | Country | ||||
Number of reportable operating segments | ' | ' | ' | ' | ' |
Number of countries in which entity operates | 14 | 14 | ' | ' | ' |
Percentage of Net Sales by Major Customer | ' | ' | 22.00% | 22.00% | 22.00% |
Number of reportable operating segments | 1 | 1 | ' | ' | ' |
Recovered_Sheet16
Geographic, Financial and Other Information - Schedule of Net Sales and Long-Lived Assets by Geographic Area (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 |
United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | Outside Of The United States [Member] | Outside Of The United States [Member] | Outside Of The United States [Member] | Outside Of The United States [Member] | Outside Of The United States [Member] | Outside Of The United States [Member] | Outside Of The United States [Member] | Outside Of The United States [Member] | |||||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $339.40 | $391.30 | $347 | $357.10 | $330.70 | $359.80 | $337.20 | $351.20 | $333.20 | $1,021.40 | $1,034.80 | $1,426.10 | $1,381.40 | $1,321.40 | $185.80 | $192 | $581.80 | $580.60 | $800 | $757.40 | $729.10 | ' | $153.60 | $155 | $439.60 | $454.20 | $626.10 | $624 | $592.30 | ' |
Percentage of net sales by geographic location (percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55.00% | 55.00% | 57.00% | 56.00% | 56.00% | 55.00% | 55.00% | ' | 45.00% | 45.00% | 43.00% | 44.00% | 44.00% | 45.00% | 45.00% | ' |
Long-Lived Assets, net | $487.10 | $478.60 | ' | ' | ' | $402.80 | ' | ' | ' | $487.10 | ' | $478.60 | $402.80 | ' | $440.90 | ' | $440.90 | ' | $430.10 | $354.30 | ' | ' | $46.20 | ' | $46.20 | ' | $48.50 | $48.50 | ' | ' |
Percentage of long lived assets, net by geographic location (percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 91.00% | ' | 91.00% | ' | 90.00% | 88.00% | ' | 90.00% | 9.00% | ' | 9.00% | ' | 10.00% | 12.00% | ' | 10.00% |
Geographic_Financial_and_Other2
Geographic, Financial and Other Information - Schedule of Net Sales by Classes of Similar Products (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $339.40 | $391.30 | $347 | $357.10 | $330.70 | $359.80 | $337.20 | $351.20 | $333.20 | $1,021.40 | $1,034.80 | $1,426.10 | $1,381.40 | $1,321.40 |
Color Cosmetics [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | 218.1 | ' | 225 | ' | ' | ' | ' | ' | ' | 678 | 680 | 940 | 880.4 | 816.1 |
Percentage of net sales by classes of similar products (percent) | 64.00% | ' | 65.00% | ' | ' | ' | ' | ' | ' | 66.00% | 66.00% | 66.00% | 64.00% | 62.00% |
Beauty Care And Fragrance [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $121.30 | ' | $122 | ' | ' | ' | ' | ' | ' | $343.40 | $354.80 | $486.10 | $501 | $505.30 |
Percentage of net sales by classes of similar products (percent) | 36.00% | ' | 35.00% | ' | ' | ' | ' | ' | ' | 34.00% | 34.00% | 34.00% | 36.00% | 38.00% |
GUARANTOR_FINANCIAL_INFORMATIO2
GUARANTOR FINANCIAL INFORMATION - Additional Information (Detail) | Sep. 30, 2013 | Dec. 31, 2012 |
5 3/4% Senior Notes Due 2021 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Stated interest rate (percent) | 5.75% | 9.75% |
GUARANTOR_FINANCIAL_INFORMATIO3
GUARANTOR FINANCIAL INFORMATION - Condensed Consolidating Balance Sheets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | |||
In Millions, unless otherwise specified | |||||||||
ASSETS | ' | ' | ' | ' | ' | ' | |||
Cash and cash equivalents | $139.30 | $116.30 | $45.20 | $101.70 | $76.70 | $54.50 | |||
Trade receivables, less allowances for doubtful accounts | 194.1 | 216 | ' | 212 | ' | ' | |||
Inventories | 142.2 | 114.7 | ' | 111 | ' | ' | |||
Deferred income taxes - current | 50 | 48.5 | ' | 49.6 | ' | ' | |||
Prepaid expenses and other | 51.3 | 45.4 | ' | ' | ' | ' | |||
Property, plant and equipment, net | 102.7 | 99.5 | ' | 98.9 | ' | ' | |||
Deferred income taxes - noncurrent | 181.2 | 203.1 | ' | 221.4 | ' | ' | |||
Goodwill | 217.9 | 217.8 | ' | 194.7 | 182.7 | ' | |||
Intangible assets, net | 64.7 | 68.8 | ' | 29.2 | ' | ' | |||
Other assets | 101.9 | 92.5 | ' | 80 | ' | ' | |||
Total assets | 1,336.30 | 1,297.70 | ' | 1,206.10 | ' | ' | |||
LIABILITIES AND STOCKHOLDER'S DEFICIENCY | ' | ' | ' | ' | ' | ' | |||
Short-term borrowings | 6.6 | 5 | ' | 5.9 | ' | ' | |||
Current portion of long-term debt | 0 | [1] | 21.5 | [1],[2] | ' | 8 | [2] | ' | ' |
Current portion of long-term debt - affiliates | 48.6 | [3] | 48.6 | [3] | ' | 0 | ' | ' | |
Accounts payable | 103.4 | 101.8 | ' | 89 | ' | ' | |||
Accrued expenses and other | 224.8 | 264.7 | ' | 230 | ' | ' | |||
Long-term debt | 1,228.20 | 1,145.80 | ' | 1,107 | ' | ' | |||
Long-term debt - affiliates | ' | 0 | ' | 107 | ' | ' | |||
Other long-term liabilities | 56.3 | 53.3 | ' | 55.3 | ' | ' | |||
Stockholder's deficiency | -541.7 | -576.7 | ' | -641.6 | -657.1 | -993.8 | |||
Total liabilities and stockholder's deficiency | 1,336.30 | 1,297.70 | ' | 1,206.10 | ' | ' | |||
Products Corporation [Member] | ' | ' | ' | ' | ' | ' | |||
ASSETS | ' | ' | ' | ' | ' | ' | |||
Cash and cash equivalents | 103.7 | 59.1 | 10.3 | 57.7 | 20.5 | 27.4 | |||
Trade receivables, less allowances for doubtful accounts | 85 | 96.2 | ' | 107.1 | ' | ' | |||
Inventories | 91.7 | 74.1 | ' | 68.3 | ' | ' | |||
Deferred income taxes - current | 39.2 | 38.2 | ' | 40 | ' | ' | |||
Prepaid expenses and other | 110.9 | 92.1 | ' | 78.3 | ' | ' | |||
Intercompany receivables | 963.6 | 947.9 | ' | 907.6 | ' | ' | |||
Investment in subsidiaries | -64.4 | -94.6 | ' | -164.2 | ' | ' | |||
Property, plant and equipment, net | 91.3 | 86.9 | ' | 85.2 | ' | ' | |||
Deferred income taxes - noncurrent | 169.4 | 189.9 | ' | 206.9 | ' | ' | |||
Goodwill | 185.8 | 150.6 | ' | 150.6 | ' | ' | |||
Intangible assets, net | 58.5 | 0.9 | ' | 0.9 | ' | ' | |||
Other assets | 75 | 63.5 | ' | 52.7 | ' | ' | |||
Total assets | 1,909.70 | 1,704.80 | ' | 1,591.10 | ' | ' | |||
LIABILITIES AND STOCKHOLDER'S DEFICIENCY | ' | ' | ' | ' | ' | ' | |||
Short-term borrowings | 0 | 0 | ' | ' | ' | ' | |||
Current portion of long-term debt | 0 | 21.5 | ' | 8 | ' | ' | |||
Current portion of long-term debt - affiliates | 48.6 | 48.6 | ' | ' | ' | ' | |||
Accounts payable | 73.7 | 62.2 | ' | 56 | ' | ' | |||
Accrued expenses and other | 140.7 | 155.7 | ' | 150.8 | ' | ' | |||
Intercompany payables | 742.3 | 614.6 | ' | 559 | ' | ' | |||
Long-term debt | 1,228.20 | 1,145.80 | ' | 1,107 | ' | ' | |||
Long-term debt - affiliates | ' | ' | ' | 107 | ' | ' | |||
Other long-term liabilities | 217.9 | 233.1 | ' | 244.9 | ' | ' | |||
Total liabilities | 2,451.40 | 2,281.50 | ' | 2,232.70 | ' | ' | |||
Stockholder's deficiency | -541.7 | -576.7 | ' | -641.6 | ' | ' | |||
Total liabilities and stockholder's deficiency | 1,909.70 | 1,704.80 | ' | 1,591.10 | ' | ' | |||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | |||
ASSETS | ' | ' | ' | ' | ' | ' | |||
Cash and cash equivalents | 0.1 | 0 | 0 | 0.1 | 0.1 | 0.4 | |||
Trade receivables, less allowances for doubtful accounts | 22.8 | 23.1 | ' | 18.2 | ' | ' | |||
Inventories | 11 | 6.1 | ' | 8.4 | ' | ' | |||
Deferred income taxes - current | 0 | 0 | ' | ' | ' | ' | |||
Prepaid expenses and other | 6.4 | 4.7 | ' | 4.2 | ' | ' | |||
Intercompany receivables | 611.5 | 488.2 | ' | 445.5 | ' | ' | |||
Investment in subsidiaries | -156.9 | -190 | ' | -193 | ' | ' | |||
Property, plant and equipment, net | 0.6 | 0.5 | ' | 0.9 | ' | ' | |||
Deferred income taxes - noncurrent | 0 | 0 | ' | ' | ' | ' | |||
Goodwill | 30 | 65.2 | ' | 42.2 | ' | ' | |||
Intangible assets, net | 0.3 | 61.3 | ' | 21.7 | ' | ' | |||
Other assets | 1.9 | 3.5 | ' | 2.8 | ' | ' | |||
Total assets | 527.7 | 462.6 | ' | 351 | ' | ' | |||
LIABILITIES AND STOCKHOLDER'S DEFICIENCY | ' | ' | ' | ' | ' | ' | |||
Short-term borrowings | 4.9 | 5 | ' | 3.6 | ' | ' | |||
Current portion of long-term debt | 0 | 0 | ' | ' | ' | ' | |||
Current portion of long-term debt - affiliates | 0 | 0 | ' | ' | ' | ' | |||
Accounts payable | 5.8 | 5.1 | ' | 3.9 | ' | ' | |||
Accrued expenses and other | 11.9 | 13.8 | ' | 10.8 | ' | ' | |||
Intercompany payables | 687.2 | 650.7 | ' | 609.9 | ' | ' | |||
Long-term debt | 0 | 0 | ' | ' | ' | ' | |||
Long-term debt - affiliates | ' | ' | ' | ' | ' | ' | |||
Other long-term liabilities | 3.6 | 6.2 | ' | 5.3 | ' | ' | |||
Total liabilities | 713.4 | 680.8 | ' | 633.5 | ' | ' | |||
Stockholder's deficiency | -185.7 | -218.2 | ' | -282.5 | ' | ' | |||
Total liabilities and stockholder's deficiency | 527.7 | 462.6 | ' | 351 | ' | ' | |||
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | |||
ASSETS | ' | ' | ' | ' | ' | ' | |||
Cash and cash equivalents | 35.5 | 57.2 | 34.9 | 43.9 | 56.1 | 26.7 | |||
Trade receivables, less allowances for doubtful accounts | 86.3 | 96.7 | ' | 86.7 | ' | ' | |||
Inventories | 39.5 | 34.5 | ' | 34.3 | ' | ' | |||
Deferred income taxes - current | 10.8 | 10.3 | ' | 9.6 | ' | ' | |||
Prepaid expenses and other | 25 | 23.7 | ' | 25.1 | ' | ' | |||
Intercompany receivables | 429.7 | 408 | ' | 362.4 | ' | ' | |||
Investment in subsidiaries | 0 | 0 | ' | ' | ' | ' | |||
Property, plant and equipment, net | 10.8 | 12.1 | ' | 12.8 | ' | ' | |||
Deferred income taxes - noncurrent | 11.8 | 13.2 | ' | 14.5 | ' | ' | |||
Goodwill | 2.1 | 2 | ' | 1.9 | ' | ' | |||
Intangible assets, net | 5.9 | 6.6 | ' | 6.6 | ' | ' | |||
Other assets | 25 | 25.5 | ' | 24.5 | ' | ' | |||
Total assets | 682.4 | 689.8 | ' | 622.3 | ' | ' | |||
LIABILITIES AND STOCKHOLDER'S DEFICIENCY | ' | ' | ' | ' | ' | ' | |||
Short-term borrowings | 1.7 | 0 | ' | 2.3 | ' | ' | |||
Current portion of long-term debt | 0 | 0 | ' | ' | ' | ' | |||
Current portion of long-term debt - affiliates | 0 | 0 | ' | ' | ' | ' | |||
Accounts payable | 23.9 | 34.5 | ' | 29.1 | ' | ' | |||
Accrued expenses and other | 72.2 | 95.2 | ' | 68.4 | ' | ' | |||
Intercompany payables | 575.3 | 578.8 | ' | 546.6 | ' | ' | |||
Long-term debt | 0 | 0 | ' | ' | ' | ' | |||
Long-term debt - affiliates | ' | ' | ' | ' | ' | ' | |||
Other long-term liabilities | 44.9 | 47.7 | ' | 50.6 | ' | ' | |||
Total liabilities | 718 | 756.2 | ' | 697 | ' | ' | |||
Stockholder's deficiency | -35.6 | -66.4 | ' | -74.7 | ' | ' | |||
Total liabilities and stockholder's deficiency | 682.4 | 689.8 | ' | 622.3 | ' | ' | |||
Eliminations [Member] | ' | ' | ' | ' | ' | ' | |||
ASSETS | ' | ' | ' | ' | ' | ' | |||
Cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | 0 | |||
Trade receivables, less allowances for doubtful accounts | 0 | 0 | ' | ' | ' | ' | |||
Inventories | 0 | 0 | ' | ' | ' | ' | |||
Deferred income taxes - current | 0 | 0 | ' | ' | ' | ' | |||
Prepaid expenses and other | 0 | 0 | ' | ' | ' | ' | |||
Intercompany receivables | -2,004.80 | -1,844.10 | ' | -1,715.50 | ' | ' | |||
Investment in subsidiaries | 221.3 | 284.6 | ' | 357.2 | ' | ' | |||
Property, plant and equipment, net | 0 | 0 | ' | ' | ' | ' | |||
Deferred income taxes - noncurrent | 0 | 0 | ' | ' | ' | ' | |||
Goodwill | 0 | 0 | ' | ' | ' | ' | |||
Intangible assets, net | 0 | 0 | ' | ' | ' | ' | |||
Other assets | 0 | 0 | ' | ' | ' | ' | |||
Total assets | -1,783.50 | -1,559.50 | ' | -1,358.30 | ' | ' | |||
LIABILITIES AND STOCKHOLDER'S DEFICIENCY | ' | ' | ' | ' | ' | ' | |||
Short-term borrowings | 0 | 0 | ' | ' | ' | ' | |||
Current portion of long-term debt | 0 | 0 | ' | ' | ' | ' | |||
Current portion of long-term debt - affiliates | 0 | 0 | ' | ' | ' | ' | |||
Accounts payable | 0 | 0 | ' | ' | ' | ' | |||
Accrued expenses and other | 0 | 0 | ' | ' | ' | ' | |||
Intercompany payables | -2,004.80 | -1,844.10 | ' | -1,715.50 | ' | ' | |||
Long-term debt | 0 | 0 | ' | ' | ' | ' | |||
Other long-term liabilities | 0 | 0 | ' | ' | ' | ' | |||
Total liabilities | -2,004.80 | -1,844.10 | ' | -1,715.50 | ' | ' | |||
Stockholder's deficiency | 221.3 | 284.6 | ' | 357.2 | ' | ' | |||
Total liabilities and stockholder's deficiency | -1,783.50 | -1,559.50 | ' | -1,358.30 | ' | ' | |||
Consolidated [Member] | ' | ' | ' | ' | ' | ' | |||
ASSETS | ' | ' | ' | ' | ' | ' | |||
Cash and cash equivalents | 139.3 | 116.3 | 45.2 | 101.7 | 76.7 | 54.5 | |||
Trade receivables, less allowances for doubtful accounts | 194.1 | 216 | ' | 212 | ' | ' | |||
Inventories | 142.2 | 114.7 | ' | 111 | ' | ' | |||
Deferred income taxes - current | 50 | 48.5 | ' | 49.6 | ' | ' | |||
Prepaid expenses and other | 142.3 | 120.5 | ' | 107.6 | ' | ' | |||
Intercompany receivables | 0 | 0 | ' | ' | ' | ' | |||
Investment in subsidiaries | 0 | 0 | ' | ' | ' | ' | |||
Property, plant and equipment, net | 102.7 | 99.5 | ' | 98.9 | ' | ' | |||
Deferred income taxes - noncurrent | 181.2 | 203.1 | ' | 221.4 | ' | ' | |||
Goodwill | 217.9 | 217.8 | ' | 194.7 | ' | ' | |||
Intangible assets, net | 64.7 | 68.8 | ' | 29.2 | ' | ' | |||
Other assets | 101.9 | 92.5 | ' | 80 | ' | ' | |||
Total assets | 1,336.30 | 1,297.70 | ' | 1,206.10 | ' | ' | |||
LIABILITIES AND STOCKHOLDER'S DEFICIENCY | ' | ' | ' | ' | ' | ' | |||
Short-term borrowings | 6.6 | 5 | ' | 5.9 | ' | ' | |||
Current portion of long-term debt | 0 | 21.5 | ' | 8 | ' | ' | |||
Current portion of long-term debt - affiliates | 48.6 | 48.6 | ' | ' | ' | ' | |||
Accounts payable | 103.4 | 101.8 | ' | 89 | ' | ' | |||
Accrued expenses and other | 224.8 | 264.7 | ' | 230 | ' | ' | |||
Intercompany payables | 0 | 0 | ' | ' | ' | ' | |||
Long-term debt | 1,228.20 | 1,145.80 | ' | 1,107 | ' | ' | |||
Long-term debt - affiliates | ' | ' | ' | 107 | ' | ' | |||
Other long-term liabilities | 266.4 | 287 | ' | 300.8 | ' | ' | |||
Total liabilities | 1,878 | 1,874.40 | ' | 1,847.70 | ' | ' | |||
Stockholder's deficiency | -541.7 | -576.7 | ' | -641.6 | ' | ' | |||
Total liabilities and stockholder's deficiency | $1,336.30 | $1,297.70 | ' | $1,206.10 | ' | ' | |||
[1] | In February 2013, Products Corporation consummated an amendment (the "February 2013 Term Loan Amendments") to its third amended and restated term loan agreement dated as of May 19, 2011 (as amended, the "2011 Term Loan Agreement" or the "2011 Term Loan Facility") for its 6.5-year term loan due November 19, 2017 (the "2011 Term Loan"). Refer to "Recent Debt Transactions - Term Loan Amendments - (i) February 2013 Term Loan Amendments" below for further discussion. | ||||||||
[2] | The Company classified $21.5 million of long-term debt as a current liability, which is comprised of the Company's regularly scheduled $2.0 million principal repayment due on March 31, 2013 as well as the required "excess cash flow" payment (as defined under the 2011 Term Loan Agreement) to be made in 2013. (See below under "2011 Credit Agreements"). | ||||||||
[3] | For detail regarding Products Corporation's Amended and Restated Senior Subordinated Term Loan (the "Amended and Restated Senior Subordinated Term Loan"), consisting of (i) the $58.4 million principal amount which remains owing from Products Corporation to various third parties (the "Non-Contributed Loan"), which matures on October 8, 2014, and (ii) the $48.6 million principal amount which, at September 30, 2013 was due from Products Corporation to Revlon, Inc. (the "Contributed Loan"), and which Products Corporation repaid to Revlon, Inc. at maturity on October 8, 2013, see Note 10, "Long-Term Debt," to the Consolidated Financial Statements in the Company's 2012 Form 10-K. |
GUARANTOR_FINANCIAL_INFORMATIO4
GUARANTOR FINANCIAL INFORMATION - Condensed Consolidating Statement of Income and Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | $339.40 | $391.30 | $347 | $357.10 | $330.70 | $359.80 | $337.20 | $351.20 | $333.20 | $1,021.40 | $1,034.80 | $1,426.10 | $1,381.40 | $1,321.40 | ||||||||||||
Cost of sales | 123.8 | ' | 127 | ' | ' | ' | ' | ' | ' | 365.5 | 367.1 | 506.5 | 492.6 | 455.3 | ||||||||||||
Gross profit | 215.6 | 251.9 | 220 | 232.7 | 215 | 225.5 | 214.1 | 229.3 | 219.9 | 655.9 | 667.7 | 919.6 | 888.8 | 866.1 | ||||||||||||
Selling, general and administrative expenses | 174.4 | ' | 174.7 | ' | ' | ' | ' | ' | ' | 500 | 524.4 | 690.9 | 678.1 | 659.3 | ||||||||||||
Restructuring charges and other, net | -1.5 | ' | 21 | ' | ' | ' | ' | ' | ' | 1.8 | 21 | 20.7 | 0 | -0.3 | ||||||||||||
Operating income | 42.7 | ' | 24.3 | ' | ' | ' | ' | ' | ' | 154.1 | 122.3 | 208 | 210.7 | 207.1 | ||||||||||||
Other expenses (income), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Interest expense | 17.8 | ' | 21.4 | ' | ' | ' | ' | ' | ' | 55.5 | 64.1 | 85.3 | 91.1 | 96.7 | ||||||||||||
Amortization of debt issuance costs | 0.8 | ' | 0.9 | ' | ' | ' | ' | ' | ' | 2.2 | 2.6 | 3.4 | 3.7 | 4.5 | ||||||||||||
Loss on early extinguishment of debt | 0.2 | ' | 0 | ' | ' | ' | ' | ' | ' | 28.1 | 0 | 0 | 11.2 | 9.7 | ||||||||||||
Foreign currency (gains) losses, net | 0.4 | ' | -0.1 | ' | ' | ' | ' | ' | ' | 2.9 | 2 | 2.7 | 4.4 | 6.3 | ||||||||||||
Miscellaneous, net | 0.5 | ' | 0.1 | ' | ' | ' | ' | ' | ' | 0.5 | 0.4 | 1 | 1.5 | 1.2 | ||||||||||||
Other (income) expenses, net | 19.7 | ' | 22.3 | ' | ' | ' | ' | ' | ' | 89.2 | 69.1 | 92.4 | 111.9 | 118.4 | ||||||||||||
Income (loss) from continuing operations before income taxes | 23 | ' | 2 | ' | ' | ' | ' | ' | ' | 64.9 | 53.2 | 115.6 | 98.8 | 88.7 | ||||||||||||
Provision for (benefit from) income taxes | 13 | ' | 12 | ' | ' | ' | ' | ' | ' | 32.4 | 33.1 | 44.8 | 35.4 | -235.3 | ||||||||||||
Income (loss) from continuing operations | 10 | 50.7 | [1],[2] | -10 | [1],[2] | 20.1 | [1],[2] | 10 | [1],[2] | 38.9 | [3] | 5.3 | [3] | 7.2 | [3] | 12 | [3] | 32.5 | 20.1 | 70.8 | 63.4 | 324 | ||||
Income from discontinued operations, net of taxes | 0 | 0 | 0 | 0.4 | 0 | ' | ' | 0.6 | ' | 0.3 | 0.4 | 0.4 | 0.6 | 0.3 | ||||||||||||
Net income | 10 | 50.7 | [1],[2] | -10 | [1],[2] | 20.5 | [1],[2] | 10 | [1],[2] | 38.9 | [3] | 5.3 | [3] | 7.8 | [3] | 12 | [3] | 32.8 | 20.5 | 71.2 | 64 | 324.3 | ||||
Other comprehensive (loss) income | 3.1 | ' | -0.1 | ' | ' | ' | ' | ' | ' | 2.2 | [4] | 7.8 | -7.3 | [5] | -50.6 | [5] | 7.6 | [5] | ||||||||
Total comprehensive income | 13.1 | ' | -10.1 | ' | ' | ' | ' | ' | ' | 35 | 28.3 | 63.9 | 13.4 | 331.9 | ||||||||||||
Products Corporation [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | 229.4 | ' | 221.1 | ' | ' | ' | ' | ' | ' | 713.5 | 680.7 | 929.9 | 883.7 | 854.2 | ||||||||||||
Cost of sales | 106.2 | ' | 101.8 | ' | ' | ' | ' | ' | ' | 325.5 | 309.4 | 418.6 | 399.8 | 367.8 | ||||||||||||
Gross profit | 123.2 | ' | 119.3 | ' | ' | ' | ' | ' | ' | 388 | 371.3 | 511.3 | 483.9 | 486.4 | ||||||||||||
Selling, general and administrative expenses | 106.7 | ' | 100 | ' | ' | ' | ' | ' | ' | 318.1 | 303.1 | 397.2 | 391.9 | 399.6 | ||||||||||||
Restructuring charges and other, net | 0 | ' | 1.2 | ' | ' | ' | ' | ' | ' | 0 | 1.2 | 1.2 | ' | -0.2 | ||||||||||||
Operating income | 16.5 | ' | 18.1 | ' | ' | ' | ' | ' | ' | 69.9 | 67 | 112.9 | 92 | 87 | ||||||||||||
Other expenses (income), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Intercompany interest, net | 0.2 | ' | 0.2 | ' | ' | ' | ' | ' | ' | 0.7 | 0.7 | 0.8 | 0.1 | -0.1 | ||||||||||||
Interest expense | 16 | ' | 19.6 | ' | ' | ' | ' | ' | ' | 50.3 | 58.9 | 78.4 | 84.2 | 89.9 | ||||||||||||
Amortization of debt issuance costs | 0.8 | ' | 0.9 | ' | ' | ' | ' | ' | ' | 2.2 | 2.6 | 3.4 | 3.7 | 4.5 | ||||||||||||
Loss on early extinguishment of debt | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | 28.1 | ' | ' | 11.2 | 9.7 | ||||||||||||
Foreign currency (gains) losses, net | -1.5 | ' | -1.1 | ' | ' | ' | ' | ' | ' | 2.5 | -1 | -0.4 | -1.5 | -4.6 | ||||||||||||
Miscellaneous, net | -10.9 | ' | -27.2 | ' | ' | ' | ' | ' | ' | -49.4 | -60.3 | -70.1 | -47.9 | -46.9 | ||||||||||||
Other (income) expenses, net | 4.8 | ' | -7.6 | ' | ' | ' | ' | ' | ' | 34.4 | 0.9 | 12.1 | 49.8 | 52.5 | ||||||||||||
Income (loss) from continuing operations before income taxes | 11.7 | ' | 25.7 | ' | ' | ' | ' | ' | ' | 35.5 | 66.1 | 100.8 | 42.2 | 34.5 | ||||||||||||
Provision for (benefit from) income taxes | 10.9 | ' | 6.4 | ' | ' | ' | ' | ' | ' | 27.3 | 21.9 | 25 | 26.8 | -255.8 | ||||||||||||
Income (loss) from continuing operations | 0.8 | ' | 19.3 | ' | ' | ' | ' | ' | ' | 8.2 | 44.2 | 75.8 | 15.4 | 290.3 | ||||||||||||
Income from discontinued operations, net of taxes | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | 0.4 | 0.4 | 0.6 | 0.3 | ||||||||||||
Equity in income (loss) of subsidiaries | 9.2 | ' | -29.3 | ' | ' | ' | ' | ' | ' | 24.3 | -24.1 | -5 | 48 | 33.7 | ||||||||||||
Net income | 10 | ' | -10 | ' | ' | ' | ' | ' | ' | 32.8 | 20.5 | 71.2 | 64 | 324.3 | ||||||||||||
Other comprehensive (loss) income | 3.1 | ' | -0.1 | ' | ' | ' | ' | ' | ' | 2.2 | 7.8 | -7.3 | -50.6 | 7.6 | ||||||||||||
Total comprehensive income | 13.1 | ' | -10.1 | ' | ' | ' | ' | ' | ' | 35 | 28.3 | 63.9 | 13.4 | 331.9 | ||||||||||||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | 25.3 | ' | 34 | ' | ' | ' | ' | ' | ' | 63.6 | 83 | 113.6 | 95.2 | 69.4 | ||||||||||||
Cost of sales | 12.6 | ' | 15.6 | ' | ' | ' | ' | ' | ' | 30.2 | 38.1 | 53.7 | 45 | 32 | ||||||||||||
Gross profit | 12.7 | ' | 18.4 | ' | ' | ' | ' | ' | ' | 33.4 | 44.9 | 59.9 | 50.2 | 37.4 | ||||||||||||
Selling, general and administrative expenses | 9.4 | ' | 13 | ' | ' | ' | ' | ' | ' | 28.3 | 35 | 47.3 | 40.6 | 32.5 | ||||||||||||
Restructuring charges and other, net | 0.1 | ' | 0.5 | ' | ' | ' | ' | ' | ' | 0.3 | 0.5 | 0.7 | ' | ' | ||||||||||||
Operating income | 3.2 | ' | 4.9 | ' | ' | ' | ' | ' | ' | 4.8 | 9.4 | 11.9 | 9.6 | 4.9 | ||||||||||||
Other expenses (income), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Intercompany interest, net | -0.1 | ' | -0.3 | ' | ' | ' | ' | ' | ' | -0.5 | -0.7 | -0.8 | -1 | -1.1 | ||||||||||||
Interest expense | 0.1 | ' | 0.2 | ' | ' | ' | ' | ' | ' | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | ||||||||||||
Amortization of debt issuance costs | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Loss on early extinguishment of debt | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ||||||||||||
Foreign currency (gains) losses, net | 0.5 | ' | 0.1 | ' | ' | ' | ' | ' | ' | 0.4 | 0.3 | 0.5 | 0.5 | -0.3 | ||||||||||||
Miscellaneous, net | -5.8 | ' | 13.7 | ' | ' | ' | ' | ' | ' | 5.2 | 7.5 | 6.8 | -1.9 | 2.9 | ||||||||||||
Other (income) expenses, net | -5.3 | ' | 13.7 | ' | ' | ' | ' | ' | ' | 5.3 | 7.4 | 6.8 | -2.1 | 1.8 | ||||||||||||
Income (loss) from continuing operations before income taxes | 8.5 | ' | -8.8 | ' | ' | ' | ' | ' | ' | -0.5 | 2 | 5.1 | 11.7 | 3.1 | ||||||||||||
Provision for (benefit from) income taxes | 0.4 | ' | 2.3 | ' | ' | ' | ' | ' | ' | -2 | 5.1 | 8.9 | 3.2 | 4.1 | ||||||||||||
Income (loss) from continuing operations | 8.1 | ' | -11.1 | ' | ' | ' | ' | ' | ' | 1.5 | -3.1 | -3.8 | 8.5 | -1 | ||||||||||||
Income from discontinued operations, net of taxes | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Equity in income (loss) of subsidiaries | 2.2 | ' | -25.2 | ' | ' | ' | ' | ' | ' | 19.7 | -25.7 | -11.9 | 10.8 | 18.5 | ||||||||||||
Net income | 10.3 | ' | -36.3 | ' | ' | ' | ' | ' | ' | 21.2 | -28.8 | -15.7 | 19.3 | 17.5 | ||||||||||||
Other comprehensive (loss) income | -1.4 | ' | -2.8 | ' | ' | ' | ' | ' | ' | 9.8 | 2.7 | 10.6 | -6.3 | -7.9 | ||||||||||||
Total comprehensive income | 8.9 | ' | -39.1 | ' | ' | ' | ' | ' | ' | 31 | -26.1 | -5.1 | 13 | 9.6 | ||||||||||||
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | 133.2 | ' | 141.3 | ' | ' | ' | ' | ' | ' | 390.6 | 417.5 | 576.1 | 574.9 | 546.1 | ||||||||||||
Cost of sales | 53.5 | ' | 59 | ' | ' | ' | ' | ' | ' | 156.1 | 166 | 227.7 | 220.2 | 203.8 | ||||||||||||
Gross profit | 79.7 | ' | 82.3 | ' | ' | ' | ' | ' | ' | 234.5 | 251.5 | 348.4 | 354.7 | 342.3 | ||||||||||||
Selling, general and administrative expenses | 58.3 | ' | 61.7 | ' | ' | ' | ' | ' | ' | 153.6 | 186.3 | 246.4 | 245.6 | 227.2 | ||||||||||||
Restructuring charges and other, net | -1.6 | ' | 19.3 | ' | ' | ' | ' | ' | ' | 1.5 | 19.3 | 18.8 | ' | -0.1 | ||||||||||||
Operating income | 23 | ' | 1.3 | ' | ' | ' | ' | ' | ' | 79.4 | 45.9 | 83.2 | 109.1 | 115.2 | ||||||||||||
Other expenses (income), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Intercompany interest, net | 1.5 | ' | 1.6 | ' | ' | ' | ' | ' | ' | 4.5 | 4.6 | 6.2 | 7.1 | 7.4 | ||||||||||||
Interest expense | 0.1 | ' | 0.1 | ' | ' | ' | ' | ' | ' | 0.3 | 0.3 | 0.4 | 0.4 | 0.3 | ||||||||||||
Amortization of debt issuance costs | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Loss on early extinguishment of debt | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ||||||||||||
Foreign currency (gains) losses, net | 1.4 | ' | 0.9 | ' | ' | ' | ' | ' | ' | 0 | 2.7 | 2.6 | 5.4 | 11.2 | ||||||||||||
Miscellaneous, net | 17.2 | ' | 13.6 | ' | ' | ' | ' | ' | ' | 44.7 | 53.2 | 64.3 | 51.3 | 45.2 | ||||||||||||
Other (income) expenses, net | 20.2 | ' | 16.2 | ' | ' | ' | ' | ' | ' | 49.5 | 60.8 | 73.5 | 64.2 | 64.1 | ||||||||||||
Income (loss) from continuing operations before income taxes | 2.8 | ' | -14.9 | ' | ' | ' | ' | ' | ' | 29.9 | -14.9 | 9.7 | 44.9 | 51.1 | ||||||||||||
Provision for (benefit from) income taxes | 1.7 | ' | 3.3 | ' | ' | ' | ' | ' | ' | 7.1 | 6.1 | 10.9 | 5.4 | 16.4 | ||||||||||||
Income (loss) from continuing operations | 1.1 | ' | -18.2 | ' | ' | ' | ' | ' | ' | 22.8 | -21 | -1.2 | 39.5 | 34.7 | ||||||||||||
Income from discontinued operations, net of taxes | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Equity in income (loss) of subsidiaries | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Net income | 1.1 | ' | -18.2 | ' | ' | ' | ' | ' | ' | 22.8 | -21 | -1.2 | 39.5 | 34.7 | ||||||||||||
Other comprehensive (loss) income | -1.2 | ' | -3.4 | ' | ' | ' | ' | ' | ' | 4 | 1.9 | 12.8 | -14.3 | -7.7 | ||||||||||||
Total comprehensive income | -0.1 | ' | -21.6 | ' | ' | ' | ' | ' | ' | 26.8 | -19.1 | 11.6 | 25.2 | 27 | ||||||||||||
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | -48.5 | ' | -49.4 | ' | ' | ' | ' | ' | ' | -146.3 | -146.4 | -193.5 | -172.4 | -148.3 | ||||||||||||
Cost of sales | -48.5 | ' | -49.4 | ' | ' | ' | ' | ' | ' | -146.3 | -146.4 | -193.5 | -172.4 | -148.3 | ||||||||||||
Gross profit | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Selling, general and administrative expenses | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Restructuring charges and other, net | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Operating income | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Other expenses (income), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Intercompany interest, net | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Interest expense | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Amortization of debt issuance costs | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Loss on early extinguishment of debt | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ||||||||||||
Foreign currency (gains) losses, net | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Miscellaneous, net | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Other (income) expenses, net | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Income (loss) from continuing operations before income taxes | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Provision for (benefit from) income taxes | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Income (loss) from continuing operations | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Income from discontinued operations, net of taxes | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Equity in income (loss) of subsidiaries | -11.4 | ' | 54.5 | ' | ' | ' | ' | ' | ' | -44 | 49.8 | 16.9 | -58.8 | -52.2 | ||||||||||||
Net income | -11.4 | ' | 54.5 | ' | ' | ' | ' | ' | ' | -44 | 49.8 | 16.9 | -58.8 | -52.2 | ||||||||||||
Other comprehensive (loss) income | 2.6 | ' | 6.2 | ' | ' | ' | ' | ' | ' | -13.8 | -4.6 | -23.4 | 20.6 | 15.6 | ||||||||||||
Total comprehensive income | -8.8 | ' | 60.7 | ' | ' | ' | ' | ' | ' | -57.8 | 45.2 | -6.5 | -38.2 | -36.6 | ||||||||||||
Consolidated [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | 339.4 | ' | 347 | ' | ' | ' | ' | ' | ' | 1,021.40 | 1,034.80 | 1,426.10 | 1,381.40 | 1,321.40 | ||||||||||||
Cost of sales | 123.8 | ' | 127 | ' | ' | ' | ' | ' | ' | 365.5 | 367.1 | 506.5 | 492.6 | 455.3 | ||||||||||||
Gross profit | 215.6 | ' | 220 | ' | ' | ' | ' | ' | ' | 655.9 | 667.7 | 919.6 | 888.8 | 866.1 | ||||||||||||
Selling, general and administrative expenses | 174.4 | ' | 174.7 | ' | ' | ' | ' | ' | ' | 500 | 524.4 | 690.9 | 678.1 | 659.3 | ||||||||||||
Restructuring charges and other, net | -1.5 | ' | 21 | ' | ' | ' | ' | ' | ' | 1.8 | 21 | 20.7 | ' | -0.3 | ||||||||||||
Operating income | 42.7 | ' | 24.3 | ' | ' | ' | ' | ' | ' | 154.1 | 122.3 | 208 | 210.7 | 207.1 | ||||||||||||
Other expenses (income), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Intercompany interest, net | 1.6 | ' | 1.5 | ' | ' | ' | ' | ' | ' | 4.7 | 4.6 | 6.2 | 6.2 | 6.2 | ||||||||||||
Interest expense | 16.2 | ' | 19.9 | ' | ' | ' | ' | ' | ' | 50.8 | 59.5 | 79.1 | 84.9 | 90.5 | ||||||||||||
Amortization of debt issuance costs | 0.8 | ' | 0.9 | ' | ' | ' | ' | ' | ' | 2.2 | 2.6 | 3.4 | 3.7 | 4.5 | ||||||||||||
Loss on early extinguishment of debt | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | 28.1 | ' | ' | 11.2 | 9.7 | ||||||||||||
Foreign currency (gains) losses, net | 0.4 | ' | -0.1 | ' | ' | ' | ' | ' | ' | 2.9 | 2 | 2.7 | 4.4 | 6.3 | ||||||||||||
Miscellaneous, net | 0.5 | ' | 0.1 | ' | ' | ' | ' | ' | ' | 0.5 | 0.4 | 1 | 1.5 | 1.2 | ||||||||||||
Other (income) expenses, net | 19.7 | ' | 22.3 | ' | ' | ' | ' | ' | ' | 89.2 | 69.1 | 92.4 | 111.9 | 118.4 | ||||||||||||
Income (loss) from continuing operations before income taxes | 23 | ' | 2 | ' | ' | ' | ' | ' | ' | 64.9 | 53.2 | 115.6 | 98.8 | 88.7 | ||||||||||||
Provision for (benefit from) income taxes | 13 | ' | 12 | ' | ' | ' | ' | ' | ' | 32.4 | 33.1 | 44.8 | 35.4 | -235.3 | ||||||||||||
Income (loss) from continuing operations | 10 | ' | -10 | ' | ' | ' | ' | ' | ' | 32.5 | 20.1 | 70.8 | 63.4 | 324 | ||||||||||||
Income from discontinued operations, net of taxes | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | 0.4 | 0.4 | 0.6 | 0.3 | ||||||||||||
Equity in income (loss) of subsidiaries | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ||||||||||||
Net income | 10 | ' | -10 | ' | ' | ' | ' | ' | ' | 32.8 | 20.5 | 71.2 | 64 | 324.3 | ||||||||||||
Other comprehensive (loss) income | 3.1 | ' | -0.1 | ' | ' | ' | ' | ' | ' | 2.2 | 7.8 | -7.3 | -50.6 | 7.6 | ||||||||||||
Total comprehensive income | $13.10 | ' | ($10.10) | ' | ' | ' | ' | ' | ' | $35 | $28.30 | $63.90 | $13.40 | $331.90 | ||||||||||||
[1] | Loss from continuing operations and net loss for the third quarter of 2012 were unfavorably impacted by $24.1 million in restructuring and related charges recorded as a result of the September 2012 Program (See Note 3, "Restructuring Charges"). | |||||||||||||||||||||||||
[2] | Income from continuing operations and net income for the fourth quarter of 2012 were favorably impacted by an increase in net income driven by a non-cash benefit of $15.8 million related to the reduction of the Company's deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions in the U.S. at December 31, 2012, as a result of the Company's improved earnings trends and cumulative taxable income in those jurisdictions, which is reflected in the provision for income taxes (See Note 13, "Income Taxes"). | |||||||||||||||||||||||||
[3] | Income from continuing operations and net income for the fourth quarter of 2011 were favorably impacted by an increase in net income driven by a non-cash benefit of $16.9 million related to the reduction of the Company's deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions outside the U.S. at December 31, 2011 as a result of the Company's improved earnings trends and cumulative taxable income in those jurisdictions. (See Note 13, "Income Taxes"). | |||||||||||||||||||||||||
[4] | See Note 7, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive income during the first nine months of 2013. | |||||||||||||||||||||||||
[5] | See Note 16, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of accumulated other comprehensive loss during the years ended December 31, 2012, 2011 and 2010. |
GUARANTOR_FINANCIAL_INFORMATIO5
GUARANTOR FINANCIAL INFORMATION - Condensed Consolidating Statement of Cash Flow (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | $5.80 | $17.90 | $104.10 | $88 | $96.70 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' |
Capital expenditures | -17.9 | -14.8 | -20.9 | -13.9 | -15.2 |
Business acquisition | 0 | -66.2 | -66.2 | -39 | 0 |
Insurance proceeds for property, plant and equipment | 13.1 | 0 | ' | ' | ' |
Proceeds from sales of certain assets | 3.4 | 0.6 | 0.8 | 0.3 | 0.3 |
Net cash (used in) provided by investing activities | -1.4 | -80.4 | -86.3 | -52.6 | -14.9 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Net (decrease) increase in short-term borrowings and overdraft | 0.2 | 12.5 | 6.3 | 0.2 | -10.6 |
Payment of financing costs | -32.7 | -0.1 | -0.4 | -4.3 | -17 |
Other financing activities | -1.8 | -0.7 | -1.3 | -1.4 | 0.3 |
Net cash (used in) provided by financing activities | 22.7 | 5.7 | -3.4 | -7.5 | -62.3 |
Effect of exchange rate changes on cash and cash equivalents | -4.1 | 0.3 | 0.2 | -2.9 | 2.7 |
Net decrease in cash and cash equivalents | 23 | -56.5 | 14.6 | 25 | 22.2 |
Cash and cash equivalents at beginning of period | 116.3 | 101.7 | 101.7 | 76.7 | 54.5 |
Cash and cash equivalents at end of period | 139.3 | 45.2 | 116.3 | 101.7 | 76.7 |
2011 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | 0 | 796 | 0 |
Repayments of Long Term Debt | -113 | -6 | -8 | -4 | 0 |
2010 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | 0 | 0 | 786 |
Repayments of Long Term Debt | ' | ' | 0 | -794 | -6 |
2006 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | ' | ' | 0 | 0 | -815 |
5 3/4% Senior Notes Due 2021 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | 500 | 0 | ' | ' | ' |
9 3/4% Senior Secured Notes Due 2015 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | -330 | 0 | ' | ' | ' |
Products Corporation [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | 38.4 | -37.9 | 21.3 | 58.2 | 70.8 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' |
Capital expenditures | -15.5 | -13 | -18.1 | -11.7 | -13.7 |
Business acquisition | ' | 0 | ' | 0 | ' |
Insurance proceeds for property, plant and equipment | 0 | ' | ' | ' | ' |
Proceeds from sales of certain assets | 0.3 | 0.1 | 0.1 | 0.1 | 0 |
Net cash (used in) provided by investing activities | -15.2 | -12.9 | -18 | -11.6 | -13.7 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Net (decrease) increase in short-term borrowings and overdraft | -1.4 | 10 | 7.4 | -2.5 | -12.8 |
Repayments of Long Term Debt | -113 | ' | ' | ' | ' |
Payment of financing costs | -32.7 | -0.1 | -0.4 | -4.3 | -17 |
Other financing activities | -1.5 | -0.5 | -0.9 | -0.6 | 0.8 |
Net cash (used in) provided by financing activities | 21.4 | 3.4 | -1.9 | -9.4 | -64 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ' | 0 | 0 |
Net decrease in cash and cash equivalents | 44.6 | -47.4 | 1.4 | 37.2 | -6.9 |
Cash and cash equivalents at beginning of period | 59.1 | 57.7 | 57.7 | 20.5 | 27.4 |
Cash and cash equivalents at end of period | 103.7 | 10.3 | 59.1 | 57.7 | 20.5 |
Products Corporation [Member] | 2011 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | 796 | ' |
Repayments of Long Term Debt | ' | -6 | -8 | -4 | ' |
Products Corporation [Member] | 2010 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | ' | 786 |
Repayments of Long Term Debt | ' | ' | ' | -794 | -6 |
Products Corporation [Member] | 2006 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | ' | ' | ' | ' | -815 |
Products Corporation [Member] | 5 3/4% Senior Notes Due 2021 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | 500 | ' | ' | ' | ' |
Products Corporation [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | -330 | ' | ' | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | 0.7 | 63.7 | 64.9 | 37.4 | -0.9 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' |
Capital expenditures | -0.5 | -0.3 | -0.4 | -0.4 | -0.1 |
Business acquisition | ' | -66.2 | -66.2 | -39 | ' |
Insurance proceeds for property, plant and equipment | 0 | ' | ' | ' | ' |
Proceeds from sales of certain assets | 0 | 0.4 | 0.4 | 0 | 0 |
Net cash (used in) provided by investing activities | -0.5 | -66.1 | -66.2 | -39.4 | -0.1 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Net (decrease) increase in short-term borrowings and overdraft | -0.1 | 2.3 | 1.2 | 2 | 0.7 |
Repayments of Long Term Debt | 0 | ' | ' | ' | ' |
Payment of financing costs | 0 | 0 | ' | 0 | 0 |
Other financing activities | 0 | 0 | ' | 0 | 0 |
Net cash (used in) provided by financing activities | -0.1 | 2.3 | 1.2 | 2 | 0.7 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ' | 0 | 0 |
Net decrease in cash and cash equivalents | 0.1 | -0.1 | -0.1 | 0 | -0.3 |
Cash and cash equivalents at beginning of period | 0 | 0.1 | 0.1 | 0.1 | 0.4 |
Cash and cash equivalents at end of period | 0.1 | 0 | 0 | 0.1 | 0.1 |
Guarantor Subsidiaries [Member] | 2011 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | 0 | ' |
Repayments of Long Term Debt | ' | 0 | ' | 0 | ' |
Guarantor Subsidiaries [Member] | 2010 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | ' | 0 |
Repayments of Long Term Debt | ' | ' | ' | 0 | 0 |
Guarantor Subsidiaries [Member] | 2006 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | ' | ' | ' | ' | 0 |
Guarantor Subsidiaries [Member] | 5 3/4% Senior Notes Due 2021 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | 0 | ' | ' | ' | ' |
Guarantor Subsidiaries [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | 0 | ' | ' | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | -33.3 | -7.9 | 17.9 | -7.6 | 26.8 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' |
Capital expenditures | -1.9 | -1.5 | -2.4 | -1.8 | -1.4 |
Business acquisition | ' | 0 | ' | 0 | ' |
Insurance proceeds for property, plant and equipment | 13.1 | ' | ' | ' | ' |
Proceeds from sales of certain assets | 3.1 | 0.1 | 0.3 | 0.2 | 0.3 |
Net cash (used in) provided by investing activities | 14.3 | -1.4 | -2.1 | -1.6 | -1.1 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Net (decrease) increase in short-term borrowings and overdraft | 1.7 | 0.2 | -2.3 | 0.7 | 1.5 |
Repayments of Long Term Debt | 0 | ' | ' | ' | ' |
Payment of financing costs | 0 | 0 | ' | 0 | 0 |
Other financing activities | -0.3 | -0.2 | -0.4 | -0.8 | -0.5 |
Net cash (used in) provided by financing activities | 1.4 | 0 | -2.7 | -0.1 | 1 |
Effect of exchange rate changes on cash and cash equivalents | -4.1 | 0.3 | 0.2 | -2.9 | 2.7 |
Net decrease in cash and cash equivalents | -21.7 | -9 | 13.3 | -12.2 | 29.4 |
Cash and cash equivalents at beginning of period | 57.2 | 43.9 | 43.9 | 56.1 | 26.7 |
Cash and cash equivalents at end of period | 35.5 | 34.9 | 57.2 | 43.9 | 56.1 |
Non-Guarantor Subsidiaries [Member] | 2011 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | 0 | ' |
Repayments of Long Term Debt | ' | 0 | ' | 0 | ' |
Non-Guarantor Subsidiaries [Member] | 2010 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | ' | 0 |
Repayments of Long Term Debt | ' | ' | ' | 0 | 0 |
Non-Guarantor Subsidiaries [Member] | 2006 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | ' | ' | ' | ' | 0 |
Non-Guarantor Subsidiaries [Member] | 5 3/4% Senior Notes Due 2021 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | 0 | ' | ' | ' | ' |
Non-Guarantor Subsidiaries [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | 0 | ' | ' | ' | ' |
Eliminations [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | 0 | 0 | ' | 0 | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' |
Capital expenditures | 0 | 0 | ' | 0 | 0 |
Business acquisition | ' | 0 | ' | 0 | ' |
Insurance proceeds for property, plant and equipment | 0 | ' | ' | ' | ' |
Proceeds from sales of certain assets | 0 | 0 | ' | 0 | 0 |
Net cash (used in) provided by investing activities | 0 | 0 | ' | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Net (decrease) increase in short-term borrowings and overdraft | 0 | 0 | ' | 0 | 0 |
Repayments of Long Term Debt | 0 | ' | ' | ' | ' |
Payment of financing costs | 0 | 0 | ' | 0 | 0 |
Other financing activities | 0 | 0 | ' | 0 | 0 |
Net cash (used in) provided by financing activities | 0 | 0 | ' | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ' | 0 | 0 |
Net decrease in cash and cash equivalents | 0 | 0 | ' | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 | 0 | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 | 0 | 0 | 0 |
Eliminations [Member] | 2011 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | 0 | ' |
Repayments of Long Term Debt | ' | 0 | ' | 0 | ' |
Eliminations [Member] | 2010 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | ' | 0 |
Repayments of Long Term Debt | ' | ' | ' | 0 | 0 |
Eliminations [Member] | 2006 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | ' | ' | ' | ' | 0 |
Eliminations [Member] | 5 3/4% Senior Notes Due 2021 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | 0 | ' | ' | ' | ' |
Eliminations [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | 0 | ' | ' | ' | ' |
Consolidated [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | 5.8 | 17.9 | 104.1 | 88 | 96.7 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' |
Capital expenditures | -17.9 | -14.8 | -20.9 | -13.9 | -15.2 |
Business acquisition | ' | -66.2 | -66.2 | -39 | ' |
Insurance proceeds for property, plant and equipment | 13.1 | ' | ' | ' | ' |
Proceeds from sales of certain assets | 3.4 | 0.6 | 0.8 | 0.3 | 0.3 |
Net cash (used in) provided by investing activities | -1.4 | -80.4 | -86.3 | -52.6 | -14.9 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Net (decrease) increase in short-term borrowings and overdraft | 0.2 | 12.5 | 6.3 | 0.2 | -10.6 |
Repayments of Long Term Debt | -113 | ' | ' | ' | ' |
Payment of financing costs | -32.7 | -0.1 | -0.4 | -4.3 | -17 |
Other financing activities | -1.8 | -0.7 | -1.3 | -1.4 | 0.3 |
Net cash (used in) provided by financing activities | 22.7 | 5.7 | -3.4 | -7.5 | -62.3 |
Effect of exchange rate changes on cash and cash equivalents | -4.1 | 0.3 | 0.2 | -2.9 | 2.7 |
Net decrease in cash and cash equivalents | 23 | -56.5 | 14.6 | 25 | 22.2 |
Cash and cash equivalents at beginning of period | 116.3 | 101.7 | 101.7 | 76.7 | 54.5 |
Cash and cash equivalents at end of period | 139.3 | 45.2 | 116.3 | 101.7 | 76.7 |
Consolidated [Member] | 2011 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | 796 | ' |
Repayments of Long Term Debt | ' | -6 | -8 | -4 | ' |
Consolidated [Member] | 2010 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | ' | ' | ' | ' | 786 |
Repayments of Long Term Debt | ' | ' | ' | -794 | -6 |
Consolidated [Member] | 2006 Term Loan Facility [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | ' | ' | ' | ' | -815 |
Consolidated [Member] | 5 3/4% Senior Notes Due 2021 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Proceeds from the issuance of Long Term Debt | 500 | ' | ' | ' | ' |
Consolidated [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | ' | ' | ' | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' | ' | ' |
Repayments of Long Term Debt | ($330) | ' | ' | ' | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 18 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Jun. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 23, 2013 | Jan. 31, 2013 | Mar. 31, 2013 | Feb. 08, 2013 | Oct. 23, 2013 | ||||||||
Inventory Insurance [Member] | Inventory Insurance [Member] | Inventory Insurance [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | 9 3/4% Senior Secured Notes Due 2015 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2014 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||||||
Five Point Seven Five Zero Percent Senior Notes Due Two Thousand Twenty One [Member] | Amended and Restated Senior Subordinated Term Loan Due 2013 [Member] | ||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Unusual or Infrequent Item, Insurance Proceeds | $26.30 | ' | $17.50 | $6.60 | $19.70 | $26.30 | ' | $3.70 | $4.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.40 | ' | ' | ' | ||||||||
Total settlement for the loss of inventory | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.8 | ' | ' | ' | ||||||||
Insurance recoveries | ' | ' | 26.4 | [1] | 2.8 | 14.6 | 17.4 | [1] | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.3 | ' | ' | ||||||
Debt Intrument Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 330 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | ' | ||||||||
Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.75% | ' | ||||||||
Period of maturity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Feb-21 | ' | ||||||||
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 664.5 | ' | ' | ' | ' | ||||||||
Business Combination, Acquisition Related Costs | ' | 5.9 | 6.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Senior Subordinated Term Loan | ' | 107 | 107 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58.4 | [2] | 58.4 | [2],[3] | ' | [3] | 48.6 | [2] | 48.6 | [2],[3] | ' | [3] | ' | ' | ' | ' | ' | ||
Repayments of Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | $330 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $48.60 | ||||||||
[1] | The gain from insurance proceeds and income from insurance recoveries is included within selling, general and administrative ("SG&A") expenses in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) in the respective periods. | ||||||||||||||||||||||||||||||
[2] | For detail regarding Products Corporation's Amended and Restated Senior Subordinated Term Loan (the "Amended and Restated Senior Subordinated Term Loan"), consisting of (i) the $58.4 million principal amount which remains owing from Products Corporation to various third parties (the "Non-Contributed Loan"), which matures on October 8, 2014, and (ii) the $48.6 million principal amount which, at September 30, 2013 was due from Products Corporation to Revlon, Inc. (the "Contributed Loan"), and which Products Corporation repaid to Revlon, Inc. at maturity on October 8, 2013, see Note 10, "Long-Term Debt," to the Consolidated Financial Statements in the Company's 2012 Form 10-K. | ||||||||||||||||||||||||||||||
[3] | Amended and Restated Senior Subordinated Term Loan Agreement In January 2008, Products Corporation entered into the Senior Subordinated Term Loan Agreement with MacAndrews & Forbes and on February 1, 2008 used the $170.0 million of proceeds from such loan to repay in full the $167.4 million remaining aggregate principal amount of Products Corporation's 8 5/8% Senior Subordinated Notes, which matured on February 1, 2008, and to pay $2.55 million of related fees and expenses. In connection with such repayment, Products Corporation also used cash on hand to pay $7.2 million of accrued and unpaid interest due on the 8 5/8% Senior Subordinated Notes up to, but not including, the February 1, 2008 maturity date. In September 2008, Products Corporation used $63.0 million of the net proceeds from the July 2008 sale of the Company's Bozzano business in Brazil to partially repay $63.0 million of the outstanding aggregate principal amount of the Senior Subordinated Term Loan. Following such partial repayment, there remained outstanding $107.0 million in aggregate principal amount under such loan. In October 2009, Revlon, Inc. consummated a voluntary exchange offer transaction (the "2009 Exchange Offer"), in which MacAndrews & Forbes contributed to Revlon, Inc. $48.6 million of the $107.0 million aggregate outstanding principal amount of the Senior Subordinated Term Loan made by MacAndrews & Forbes to Products Corporation (the "Contributed Loan") and the terms of the Senior Subordinated Term Loan Agreement were amended to extend the maturity date of the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. from August 2010 to October 8, 2013 and to change the annual interest rate on the Contributed Loan from 11% to 12.75%. The $48.6 million Contributed Loan represented $5.21 of outstanding principal amount under the Senior Subordinated Term Loan for each of the 9,336,905 shares of Class A Common Stock exchanged in the 2009 Exchange Offer, in which Revlon, Inc. issued to MacAndrews & Forbes 9,336,905 shares of Class A Common Stock at a ratio of one share of Class A Common Stock for each $5.21 of outstanding principal amount of the Senior Subordinated Term Loan contributed to Revlon, Inc. Upon consummation of the 2009 Exchange Offer, the terms of the Senior Subordinated Term Loan Agreement were also amended to extend the maturity date of the $58.4 million principal amount of the Senior Subordinated Term Loan which, at December 31, 2011, remained owing from Products Corporation to MacAndrews & Forbes (the "Non-Contributed Loan") from August 2010 to October 8, 2014 and to change the annual interest rate on the Non-Contributed Loan from 11% to 12%. On April 30, 2012, MacAndrews & Forbes exercised its right to assign its interest in the Non-Contributed Loan. In connection with such assignment, Products Corporation entered into an Amended and Restated Senior Subordinated Term Loan Agreement with MacAndrews & Forbes and a related Administrative Letter was entered into with Citibank, N.A. and MacAndrews & Forbes, to among other things: (i) modify the interest rate on the Non-Contributed Loan from its prior 12% fixed rate to a floating rate of LIBOR plus 7%, with a 1.5% LIBOR floor, resulting in an interest rate of approximately 8.5% per annum through December 31, 2012 (or a 3.5% reduction per annum) upon the effectiveness of the Amended and Restated Senior Subordinated Term Loan Agreement. Interest under the Amended and Restated Senior Subordinated Term Loan Agreement is payable quarterly in arrears in cash; (ii) insert prepayment premiums such that Products Corporation may optionally prepay the Non-Contributed Loan (i) through October 31, 2013 with a prepayment premium based on a formula designed to provide the assignees of the Non-Contributed Loan with the present value, using a discount rate of 75 basis points over U.S. Treasuries, of the principal, premium and interest that would have accrued on the Non-Contributed Loan from any such prepayment date through October 31, 2013 (provided that, pursuant to the loan's terms (both before and after giving effect to these amendments), no portion of the principal amount of the Non-Contributed Loan may be repaid prior to its October 8, 2014 maturity date unless and until all shares of Revlon, Inc.'s Series A Preferred Stock, par value $0.01 per share (the "Preferred Stock") have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full), (ii) from November 1, 2013 through April 30, 2014 with a 2% prepayment premium on the aggregate principal amount of the Non-Contributed Loan being prepaid, and (iii) from May 1, 2014 through maturity on October 8, 2014 with no prepayment premium; and (iii) designate Citibank, N.A. as the administrative agent for the Non-Contributed Loan. Concurrent with the effectiveness of the Amended and Restated Senior Subordinated Term Loan Agreement, MacAndrews & Forbes assigned its entire interest in the Non-Contributed Loan to several third parties. Pursuant to the terms of the Contributed Loan, Products Corporation may, at its option, prepay such loan, in whole or in part (together with accrued and unpaid interest), at any time prior to its maturity date without premium or penalty, provided that prior to such loan's maturity date all shares of Revlon, Inc.'s Preferred Stock have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full. The Amended and Restated Senior Subordinated Term Loan is an unsecured obligation of Products Corporation and is subordinated in right of payment to all existing and future senior debt of Products Corporation, currently including indebtedness under Products Corporation's 2011 Credit Agreements and its 9 3/4% Senior Secured Notes. The Amended and Restated Senior Subordinated Term Loan has the right to payment equal in right of payment with any present and future senior subordinated indebtedness of Products Corporation. The Amended and Restated Senior Subordinated Term Loan Agreement contains covenants (other than the subordination provisions discussed above) that limit the ability of Products Corporation and its subsidiaries to, among other things, incur additional indebtedness, pay dividends on or redeem or repurchase stock, engage in certain asset sales, make certain types of investments and other restricted payments, engage in certain transactions with affiliates, restrict dividends or payments from subsidiaries and create liens on their assets. All of these limitations and prohibitions, however, are subject to a number of important qualifications and exceptions. The Amended and Restated Senior Subordinated Term Loan Agreement includes a cross acceleration provision which provides that it shall be an event of default under such agreement if any debt (as defined in such agreement) of Products Corporation or any of its significant subsidiaries (as defined in such agreement) is not paid within any applicable grace period after final maturity or is accelerated by the holders of such debt because of a default and the total principal amount of the portion of such debt that is unpaid or accelerated exceeds $25.0 million and such default continues for 10 days after notice from the holders of a majority of the outstanding principal amount of the Amended and Restated Senior Subordinated Term Loan (provided that if Revlon, Inc. or Products Corporation held such majority, notice would be required from the holders of a majority of the outstanding principal amount of the Amended and Restated Senior Subordinated Term Loan not held by Revlon, Inc. or Products Corporation at the time of any such decision). If any such event of default occurs, such requisite holders of the Non-Contributed and Contributed Loans may declare the Amended and Restated Senior Subordinated Term Loan to be due and payable immediately. The Amended and Restated Senior Subordinated Term Loan Agreement also contains other customary events of default for loan agreements of such type, including, subject to applicable grace periods, nonpayment of any principal or interest when due under such agreement, non-compliance with any of the material covenants in such agreement, any representation or warranty being incorrect, false or misleading in any material respect, or the occurrence of certain bankruptcy, insolvency or similar proceedings by or against Products Corporation or any of its significant subsidiaries. Upon any change of control (as defined in the Amended and Restated Senior Subordinated Term Loan Agreement), Products Corporation is required to repay the Amended and Restated Senior Subordinated Term Loan in full, provided that prior to such loan's respective maturity dates all shares of Revlon, Inc.'s Preferred Stock have been or are being concurrently redeemed and all payments due thereon are paid in full or are concurrently being paid in full, after fulfilling an offer to repay Products Corporation's 9 3/4% Senior Secured Notes and to the extent permitted by Products Corporation's 2011 Credit Agreements. Long-Term Debt Maturities The aggregate amounts of contractual long-term debt maturities at December 31, 2012 in the years 2013 through 2017 and thereafter are as follows: Years ended December 31, Long-term debt maturities 2013 70.1 (a) 2014 58.4 (b) 2015 332.5 (c) 2016 8.0 (d) 2017 756.0 (e) Thereafter - Total long-term debt $ 1,225.0 Discounts (9.1 ) Total long-term debt, net of discounts $ 1,215.9 (a) Amount refers to (i) a $2.0 million principal repayment on March 31, 2013, as well as the approximately $19.5 million "excess cash flow" payment (as defined under the 2011 Term Loan Agreement), to be made under the 2011 Term Loan Facility prior to April 10, 2013. Such repayment would satisfy Products Corporation's future regularly scheduled term loan amortization payments in the direct order of maturities beginning in June 2013 through September 2015 and (ii) the aggregate principal amount outstanding under the Contributed Loan. Pursuant to the terms of the 2009 Exchange Offer, the maturity date on the Contributed Loan which remains owing from Products Corporation to Revlon, Inc. was extended from August 2010 to October 8, 2013. (b) Amount refers to the aggregate principal amount outstanding under the Non-Contributed Loan which matures on October 8, 2014. (c) Amount refers to $2.5 million of quarterly amortization payments required under the 2011 Term Loan Facility and the principal balance due on the 9 3/4% Senior Secured Notes which mature on November 15, 2015. The difference between this amount and the carrying amount of the 9 3/4% Senior Secured Notes is due to the issuance of the $330.0 million in aggregate principal amount of the 9 3/4% Senior Secured Notes at a discount, which was priced at 98.9% of par. (d) Amount refers to the quarterly amortization payments required under the 2011 Term Loan Facility. Amount excludes amounts available under the 2011 Revolving Credit Facility which matures on June 16, 2016, and which was undrawn as of December 31, 2012. (e) Amount refers to the aggregate principal amount expected to be outstanding under the 2011 Term Loan Facility on its November 19, 2017 maturity date. The difference between this amount and the carrying amounts of the 2011 Term Loan Facility is due to the issuance of the $800.0 million in aggregate principal amount of the 2011 Term Loan Facility at a discount, which was priced at 99.5% of par. |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts (Detail) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Year | $3.20 | [1] | $3.10 | [1] | $3.80 | [1] |
Charged to Cost and Expenses | 0.6 | [1] | -0.1 | [1] | -0.6 | [1] |
Other Deductions | -0.3 | [1] | 0.2 | [1] | -0.1 | [1] |
Balance at End of Year | 3.5 | [1] | 3.2 | [1] | 3.1 | [1] |
Allowance for Volume and Early Payment Discounts [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Year | 15.7 | [2] | 15.2 | [2] | 14.4 | [2] |
Charged to Cost and Expenses | 58.4 | [2] | 54.4 | [2] | 60.9 | [2] |
Other Deductions | -59.5 | [2] | -53.9 | [2] | -60.1 | [2] |
Balance at End of Year | 14.6 | [2] | 15.7 | [2] | 15.2 | [2] |
Allowance for Sales Returns [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Year | 57.8 | [3] | 59.9 | [3] | 65.5 | [3] |
Charged to Cost and Expenses | 73.7 | [3] | 77 | [3] | 75.4 | [3] |
Other Deductions | -77 | [3] | -79.1 | [3] | -81 | [3] |
Balance at End of Year | $54.50 | [3] | $57.80 | [3] | $59.90 | [3] |
[1] | Includes doubtful accounts written off, less recoveries, as well as reclassifications and foreign currency translation adjustments. | |||||
[2] | Includes discounts taken, reclassifications and foreign currency translation adjustments. | |||||
[3] | Includes sales returns as a reduction to sales and cost of sales, and an increase to accrued liabilities and inventories. |
Recovered_Sheet17
Description of Business and Basis of Presentation - Venezuela Fire (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 18 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 18 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 18 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Jan. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Jul. 31, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | ||||||
Inventory Insurance [Member] | Inventory Insurance [Member] | Inventory Insurance [Member] | Inventory Insurance [Member] | Inventory Insurance [Member] | Inventory Insurance [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | Business Interruption And Property [Member] | ||||||||||||
Schedule Of Insurance Recoveries [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Unusual or Infrequent Item, Insurance Proceeds | $26.30 | $17.50 | $6.60 | $19.70 | $26.30 | $3.40 | ' | $3.40 | $3.70 | $4.70 | $8.40 | $14.10 | ' | $14.10 | $2.90 | $15 | $17.90 | ||||||
Insurance recoveries | ' | -26.4 | [1] | -2.8 | -14.6 | -17.4 | [1] | ' | -8.3 | -8.3 | [1] | ' | ' | -3.5 | [1] | ' | -18.1 | -18.1 | [1] | ' | ' | -13.9 | [1] |
Other Deferred Credits, Current | $8.90 | $0 | $8.90 | $5.10 | $8.90 | ' | ' | $0 | $4.90 | ' | $4.90 | ' | ' | $0 | $4 | ' | $4 | ||||||
[1] | The gain from insurance proceeds and income from insurance recoveries is included within selling, general and administrative ("SG&A") expenses in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) in the respective periods. |
Restructuring_Charges_and_Othe
Restructuring Charges and Other, Net - Schedule of Restructuring Activities (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | ||||||||||||||
Employee Severance [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | 2012 Restructuring Program [Member] | ||||||||||||||||||||||
Restructuring Charges [Member] | Restructuring Charges [Member] | Restructuring Charges [Member] | Sales to Returns [Member] | Sales to Returns [Member] | Sales to Returns [Member] | Cost of Sales [Member] | Cost of Sales [Member] | Cost of Sales [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Employee Severance [Member] | Employee Severance [Member] | Employee Severance [Member] | Other Restructuring Costs [Member] | Other Restructuring Costs [Member] | Other Restructuring Costs [Member] | |||||||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Restructuring charges and other, net | ($1.50) | $21 | $1.80 | $21 | $20.70 | $0 | ($0.30) | ($0.20) | $24.10 | $2.20 | $24.10 | ' | $1.80 | [1] | $20.70 | ' | $0 | [2] | $1.60 | [2] | ' | $0.20 | [3] | $1.20 | [3] | ' | $0.20 | [4] | $0.60 | [4] | ' | $2.60 | [1] | $18.40 | [5] | ' | ($0.80) | [6] | $2.30 | ' | ||||
Restructuring and related cost, cost incurred to date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26.3 | ' | ' | 22.5 | ' | ' | 1.6 | [2] | ' | ' | 1.4 | [3] | ' | ' | 0.8 | [4] | ' | ' | 21 | ' | ' | 1.5 | |||||||||||
Total expected charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | $26.50 | [6] | ' | ' | $22.70 | [6] | ' | ' | $1.60 | [2],[6] | ' | ' | $1.40 | [3],[6] | ' | ' | $0.80 | [4],[6] | ' | ' | $21 | [6] | ' | ' | $1.70 | [6] | ' | ' | |||||||
[1] | During the nine months ended September 30, 2013, the Company recorded additional charges related to the September 2012 Program primarily due to changes in estimates related to severance and other termination benefits, partially offset by a $2.5 million gain on the July 2013 sale of the Company's manufacturing facility in France. | |||||||||||||||||||||||||||||||||||||||||||
[2] | Returns are recorded as a reduction to net sales in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss). | |||||||||||||||||||||||||||||||||||||||||||
[3] | Inventory write-offs are recorded within cost of sales in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss). | |||||||||||||||||||||||||||||||||||||||||||
[4] | Other charges are recorded within SG&A expenses within the Company's Consolidated Statements of Operations and Comprehensive Income (Loss). | |||||||||||||||||||||||||||||||||||||||||||
[5] | Included within the $18.4 million of employee severance and other personnel benefits is a net pension curtailment gain of $1.5 million recognized in the year ended December 31, 2012. | |||||||||||||||||||||||||||||||||||||||||||
[6] | Included within the $(0.8) million of other is a $2.5 million gain on the July 2013 sale of the Company's manufacturing facility in France, which was recognized in the third quarter of 2013. |
LongTerm_Debt_Long_Term_Debt_R
Long-Term Debt - Long Term Debt Redemption Price Table (Detail) (5 3/4% Senior Notes Due 2021 [Member]) | 9 Months Ended |
Sep. 30, 2013 | |
Debt Instrument, Redemption, Period One [Member] | ' |
Debt Instrument, Redemption [Line Items] | ' |
Redemption price | 104.31% |
Debt Instrument, Redemption, Period Two [Member] | ' |
Debt Instrument, Redemption [Line Items] | ' |
Redemption price | 102.88% |
Debt Instrument, Redemption, Period Three [Member] | ' |
Debt Instrument, Redemption [Line Items] | ' |
Redemption price | 101.44% |
Debt Instrument, Redemption, Period Four [Member] | ' |
Debt Instrument, Redemption [Line Items] | ' |
Redemption price | 100.00% |