Guarantor Condensed Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 2013 |
Guarantor Condensed Consolidated Financial Statements [Abstract] | |
Guarantor Condensed Consolidated Financial Statements | GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS |
This disclosure is required because certain subsidiaries are guarantors of GPII's debt securities. These consolidating financial statements reflect GPHC and GPC (collectively the "Parent”); GPII, the Subsidiary Issuer; and the Subsidiary Guarantors, which consist of all material 100% owned subsidiaries of GPII other than its foreign subsidiaries; and the nonguarantor subsidiaries (herein referred to as “Nonguarantor Subsidiaries”). The Nonguarantor Subsidiaries include all of GPII's foreign subsidiaries and the subsidiaries of GFP. Separate complete financial statements of the Subsidiary Guarantors are not presented because the guarantors are jointly and severally, fully and unconditionally liable under the guarantees. |
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| Three Months Ended September 30, 2013 |
In millions | Parent | | Subsidiary Issuer | | Combined Guarantor Subsidiaries | | Combined Nonguarantor Subsidiaries | | Consolidating Eliminations | | Consolidated |
Net Sales | $ | — | | | $ | 852 | | | $ | 16.5 | | | $ | 340.5 | | | $ | (46.0 | ) | | $ | 1,163.00 | |
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Cost of Sales | — | | | 694.4 | | | 12.3 | | | 321.6 | | | (46.0 | ) | | 982.3 | |
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Selling, General and Administrative | — | | | 80.8 | | | 1.7 | | | 11.3 | | | — | | | 93.8 | |
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Other Income, Net | — | | | (5.1 | ) | | — | | | 1.1 | | | — | | | (4.0 | ) |
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Restructuring and Other Special Charges (Credits) | — | | | 1.7 | | | — | | | (16.5 | ) | | — | | | (14.8 | ) |
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Income from Operations | — | | | 80.2 | | | 2.5 | | | 23 | | | — | | | 105.7 | |
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Interest Expense, Net | — | | | (21.0 | ) | | — | | | (2.5 | ) | | — | | | (23.5 | ) |
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Loss on Modification or Extinguishment of Debt | — | | | (1.2 | ) | | — | | | — | | | — | | | (1.2 | ) |
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Income before Income Taxes and Equity Income of Unconsolidated Entities | — | | | 58 | | | 2.5 | | | 20.5 | | | — | | | 81 | |
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Income Tax Expense | — | | | (27.4 | ) | | (1.0 | ) | | (7.4 | ) | | — | | | (35.8 | ) |
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Income before Equity Income of Unconsolidated Entities | — | | | 30.6 | | | 1.5 | | | 13.1 | | | — | | | 45.2 | |
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Equity Income of Unconsolidated Entities | — | | | — | | | — | | | 0.5 | | | — | | | 0.5 | |
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Equity in Net Earnings of Subsidiaries | 45.7 | | | 15.1 | | | (0.5 | ) | | — | | | (60.3 | ) | | — | |
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Net Income | 45.7 | | | 45.7 | | | 1 | | | 13.6 | | | (60.3 | ) | | 45.7 | |
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Net Income Attributable to Noncontrolling Interests | (1.2 | ) | | (1.2 | ) | | — | | | — | | | 1.2 | | | (1.2 | ) |
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Net Income Attributable to Graphic Packaging Holding Company | $ | 44.5 | | | $ | 44.5 | | | $ | 1 | | | $ | 13.6 | | | $ | (59.1 | ) | | $ | 44.5 | |
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Comprehensive Income Attributable to Graphic Packaging Holding Company | $ | 58.4 | | | $ | 58.4 | | | $ | 0.6 | | | $ | 25.9 | | | $ | (84.9 | ) | | $ | 58.4 | |
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| Three Months Ended September 30, 2012 |
In millions | Parent | | Subsidiary Issuer | | Combined Guarantor Subsidiaries | | Combined Nonguarantor Subsidiaries | | Consolidating Eliminations | | Consolidated |
Net Sales | $ | — | | | $ | 886.5 | | | $ | 15.3 | | | $ | 269 | | | $ | (66.1 | ) | | $ | 1,104.70 | |
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Cost of Sales | — | | | 720.5 | | | 11.6 | | | 249.8 | | | (66.1 | ) | | 915.8 | |
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Selling, General and Administrative | — | | | 74.2 | | | 1.9 | | | 19 | | | — | | | 95.1 | |
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Other (Income) Expense, Net | — | | | (1.4 | ) | | (0.1 | ) | | 0.5 | | | — | | | (1.0 | ) |
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Restructuring and Other Special Charges | — | | | 0.2 | | | — | | | 3.2 | | | — | | | 3.4 | |
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Income (Loss) from Operations | — | | | 93 | | | 1.9 | | | (3.5 | ) | | — | | | 91.4 | |
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Interest Expense, Net | — | | | (24.2 | ) | | — | | | (1.9 | ) | | — | | | (26.1 | ) |
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Income (Loss) before Income Taxes and Equity Income of Unconsolidated Entities | — | | | 68.8 | | | 1.9 | | | (5.4 | ) | | — | | | 65.3 | |
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Income Tax (Expense) Benefit | — | | | (26.5 | ) | | (1.2 | ) | | 0.7 | | | — | | | (27.0 | ) |
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Income (Loss) before Equity Income of Unconsolidated Entities | — | | | 42.3 | | | 0.7 | | | (4.7 | ) | | — | | | 38.3 | |
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Equity Income of Unconsolidated Entities | — | | | — | | | — | | | 0.6 | | | — | | | 0.6 | |
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Equity in Net Earnings of Subsidiaries | 38.9 | | | (3.4 | ) | | (1.2 | ) | | — | | | (34.3 | ) | | — | |
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Net Income (Loss) | 38.9 | | | 38.9 | | | (0.5 | ) | | (4.1 | ) | | (34.3 | ) | | 38.9 | |
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Net Loss Attributable to Noncontrolling Interests | 1.2 | | | 1.2 | | | — | | | — | | | (1.2 | ) | | 1.2 | |
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Net Income (Loss) Attributable to Graphic Packaging Holding Company | $ | 40.1 | | | $ | 40.1 | | | $ | (0.5 | ) | | $ | (4.1 | ) | | $ | (35.5 | ) | | $ | 40.1 | |
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Comprehensive Income (Loss) Attributable to Graphic Packaging Holding Company | $ | 46.9 | | | $ | 46.9 | | | $ | (0.7 | ) | | $ | 0.1 | | | $ | (46.3 | ) | | $ | 46.9 | |
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| Nine Months Ended September 30, 2013 |
In millions | Parent | | Subsidiary Issuer | | Combined Guarantor Subsidiaries | | Combined Nonguarantor Subsidiaries | | Consolidating Eliminations | | Consolidated |
Net Sales | $ | — | | | $ | 2,507.40 | | | $ | 49 | | | $ | 1,002.80 | | | $ | (156.0 | ) | | $ | 3,403.20 | |
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Cost of Sales | — | | | 2,036.70 | | | 36.3 | | | 934 | | | (156.0 | ) | | 2,851.00 | |
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Selling, General and Administrative | — | | | 210 | | | 5.5 | | | 74.5 | | | — | | | 290 | |
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Other Income, Net | — | | | (6.8 | ) | | — | | | (4.5 | ) | | — | | | (11.3 | ) |
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Restructuring and Other Special Charges (Credits) | — | | | 3.9 | | | — | | | (9.0 | ) | | — | | | (5.1 | ) |
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Income from Operations | — | | | 263.6 | | | 7.2 | | | 7.8 | | | — | | | 278.6 | |
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Interest Expense, Net | — | | | (72.8 | ) | | — | | | (7.6 | ) | | — | | | (80.4 | ) |
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Loss on Modification or Extinguishment of Debt | — | | | (27.1 | ) | | — | | | — | | | — | | | (27.1 | ) |
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Income before Income Taxes and Equity Income of Unconsolidated Entities | — | | | 163.7 | | | 7.2 | | | 0.2 | | | — | | | 171.1 | |
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Income Tax Expense | — | | | (63.8 | ) | | (2.8 | ) | | (4.3 | ) | | — | | | (70.9 | ) |
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Income (Loss) before Equity Income of Unconsolidated Entities | — | | | 99.9 | | | 4.4 | | | (4.1 | ) | | — | | | 100.2 | |
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Equity Income of Unconsolidated Entities | — | | | — | | | — | | | 1.2 | | | — | | | 1.2 | |
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Equity in Net Earnings of Subsidiaries | 101.4 | | | 1.5 | | | (2.2 | ) | | — | | | (100.7 | ) | | — | |
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Net Income (Loss) | 101.4 | | | 101.4 | | | 2.2 | | | (2.9 | ) | | (100.7 | ) | | 101.4 | |
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Net Income Attributable to Noncontrolling Interests | (0.8 | ) | | (0.8 | ) | | — | | | — | | | 0.8 | | | (0.8 | ) |
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Net Income (Loss) Attributable to Graphic Packaging Holding Company | 100.6 | | | 100.6 | | | 2.2 | | | (2.9 | ) | | (99.9 | ) | | 100.6 | |
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Comprehensive Income (Loss) Attributable to Graphic Packaging Holding Company | $ | 108.3 | | | $ | 108.3 | | | $ | 1.5 | | | $ | (15.3 | ) | | $ | (94.5 | ) | | $ | 108.3 | |
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| Nine Months Ended September 30, 2012 |
In millions | Parent | | Subsidiary Issuer | | Combined Guarantor Subsidiaries | | Combined Nonguarantor Subsidiaries | | Consolidating Eliminations | | Consolidated |
Net Sales | $ | — | | | $ | 2,569.10 | | | $ | 50 | | | $ | 856 | | | $ | (191.3 | ) | | $ | 3,283.80 | |
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Cost of Sales | — | | | 2,090.10 | | | 37.1 | | | 793 | | | (191.3 | ) | | 2,728.90 | |
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Selling, General and Administrative | — | | | 224.1 | | | 5.6 | | | 57 | | | — | | | 286.7 | |
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Other (Income) Expense, Net | — | | | (4.1 | ) | | (0.2 | ) | | 1.3 | | | — | | | (3.0 | ) |
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Restructuring and Other Special Charges | — | | | 3 | | | — | | | 9.1 | | | — | | | 12.1 | |
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Income (Loss) from Operations | — | | | 256 | | | 7.5 | | | (4.4 | ) | | — | | | 259.1 | |
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Interest Expense, Net | — | | | (79.9 | ) | | — | | | (5.7 | ) | | — | | | (85.6 | ) |
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Loss on Modification or Extinguishment of Debt | — | | | (8.9 | ) | | — | | | — | | | — | | | (8.9 | ) |
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Income (Loss) before Income Taxes and Equity Income of Unconsolidated Entities | — | | | 167.2 | | | 7.5 | | | (10.1 | ) | | — | | | 164.6 | |
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Income Tax Expense | — | | | (64.0 | ) | | (2.9 | ) | | (1.7 | ) | | — | | | (68.6 | ) |
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Income (Loss) before Equity Income of Unconsolidated Entities | — | | | 103.2 | | | 4.6 | | | (11.8 | ) | | — | | | 96 | |
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Equity Income of Unconsolidated Entities | — | | | — | | | — | | | 1.6 | | | — | | | 1.6 | |
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Equity in Net Earnings of Subsidiaries | 97.6 | | | (5.6 | ) | | (3.0 | ) | | — | | | (89.0 | ) | | — | |
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Net Income (Loss) | 97.6 | | | 97.6 | | | 1.6 | | | (10.2 | ) | | (89.0 | ) | | 97.6 | |
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Net Loss Attributable to Noncontrolling Interests | 2.1 | | | 2.1 | | | — | | | — | | | (2.1 | ) | | 2.1 | |
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Net Income (Loss) Attributable to Graphic Packaging Holding Company | $ | 99.7 | | | $ | 99.7 | | | $ | 1.6 | | | $ | (10.2 | ) | | $ | (91.1 | ) | | $ | 99.7 | |
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Comprehensive Income Attributable to Graphic Packaging Holding Company | $ | 115 | | | $ | 115 | | | $ | 4.7 | | | $ | 2.5 | | | $ | (122.2 | ) | | $ | 115 | |
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| September 30, 2013 |
In millions | Parent | | Subsidiary | | Combined | | Combined | | Consolidating | | Consolidated |
Issuer | Guarantor | Nonguarantor | Eliminations |
| Subsidiaries | Subsidiaries | |
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ASSETS | | | | | | | | | | | |
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Current Assets: | | | | | | | | | | | |
Cash and Cash Equivalents | $ | — | | | $ | 43.9 | | | $ | — | | | $ | 48.1 | | | $ | — | | | $ | 92 | |
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Receivables, Net | — | | | 284.8 | | | 7.2 | | | 202.8 | | | — | | | 494.8 | |
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Inventories, Net | — | | | 370.5 | | | 4.8 | | | 210.3 | | | — | | | 585.6 | |
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Intercompany | 54.5 | | | 639.7 | | | — | | | — | | | (694.2 | ) | | — | |
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Deferred Income Tax Assets | — | | | 76.2 | | | — | | | 0.6 | | | — | | | 76.8 | |
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Other Current Assets | — | | | 12 | | | — | | | 9.6 | | | — | | | 21.6 | |
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Total Current Assets | 54.5 | | | 1,427.10 | | | 12 | | | 471.4 | | | (694.2 | ) | | 1,270.80 | |
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Property, Plant and Equipment, Net | — | | | 1,407.80 | | | 14.6 | | | 268.3 | | | (0.1 | ) | | 1,690.60 | |
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Investment in Consolidated Subsidiaries | 1,053.10 | | | — | | | 23.8 | | | — | | | (1,076.9 | ) | | — | |
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Goodwill | — | | | 1,043.20 | | | 47.2 | | | 37.7 | | | — | | | 1,128.10 | |
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Other Assets | — | | | 404.6 | | | 17.3 | | | 107.3 | | | — | | | 529.2 | |
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Total Assets | $ | 1,107.60 | | | $ | 4,282.70 | | | $ | 114.9 | | | $ | 884.7 | | | $ | (1,771.2 | ) | | $ | 4,618.70 | |
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LIABILITIES | | | | | | | | | | | |
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Current Liabilities: | | | | | | | | | | | |
Short-Term Debt and Current Portion of Long-Term Debt | $ | — | | | $ | 62.6 | | | $ | — | | | $ | 21.3 | | | $ | — | | | $ | 83.9 | |
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Accounts Payable | — | | | 312 | | | 5.4 | | | 134.5 | | | — | | | 451.9 | |
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Interest Payable | — | | | 23.4 | | | — | | | 0.1 | | | — | | | 23.5 | |
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Intercompany | — | | | — | | | 45.7 | | | 636.8 | | | (682.5 | ) | | — | |
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Other Accrued Liabilities | — | | | 139.1 | | | 1 | | | 40.3 | | | — | | | 180.4 | |
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Total Current Liabilities | — | | | 537.1 | | | 52.1 | | | 833 | | | (682.5 | ) | | 739.7 | |
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Long-Term Debt | — | | | 2,106.20 | | | — | | | 42.7 | | | — | | | 2,148.90 | |
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Deferred Income Tax Liabilities | — | | | 144.6 | | | — | | | 10.7 | | | — | | | 155.3 | |
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Other Noncurrent Liabilities | — | | | 430 | | | — | | | 37 | | | — | | | 467 | |
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Redeemable Noncontrolling Interests | 11.7 | | | 11.7 | | | — | | | — | | | (11.7 | ) | | 11.7 | |
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EQUITY | | | | | | | | | | | |
Total Graphic Packaging Holding Company Shareholders’ Equity | 1,095.90 | | | 1,053.10 | | | 62.8 | | | (38.7 | ) | | (1,077.0 | ) | | 1,096.10 | |
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Total Equity | 1,095.90 | | | 1,053.10 | | | 62.8 | | | (38.7 | ) | | (1,077.0 | ) | | 1,096.10 | |
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Total Liabilities and Equity | $ | 1,107.60 | | | $ | 4,282.70 | | | $ | 114.9 | | | $ | 884.7 | | | $ | (1,771.2 | ) | | $ | 4,618.70 | |
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| December 31, 2012 |
In millions | Parent | | Subsidiary | | Combined | | Combined | | Consolidating | | Consolidated |
Issuer | Guarantor | Nonguarantor | Eliminations |
| Subsidiaries | Subsidiaries | |
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ASSETS | | | | | | | | | | | |
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Current Assets: | | | | | | | | | | | |
Cash and Cash Equivalents | $ | — | | | $ | 5.9 | | | $ | — | | | $ | 45.6 | | | $ | — | | | $ | 51.5 | |
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Receivables, Net | — | | | 245 | | | 6.3 | | | 210 | | | — | | | 461.3 | |
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Inventories, Net | — | | | 341.3 | | | 4.2 | | | 187 | | | — | | | 532.5 | |
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Intercompany | 38.3 | | | 672.5 | | | — | | | — | | | (710.8 | ) | | — | |
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Deferred Income Tax Assets | — | | | 138.7 | | | — | | | 2 | | | — | | | 140.7 | |
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Other Current Assets | — | | | 12.6 | | | 0.1 | | | 5.7 | | | — | | | 18.4 | |
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Total Current Assets | 38.3 | | | 1,416.00 | | | 10.6 | | | 450.3 | | | (710.8 | ) | | 1,204.40 | |
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Property, Plant and Equipment, Net | — | | | 1,421.20 | | | 15.4 | | | 295.7 | | | (0.1 | ) | | 1,732.20 | |
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Investment in Consolidated Subsidiaries | 944.8 | | | 2 | | | 26.6 | | | — | | | (973.4 | ) | | — | |
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Goodwill | — | | | 1,046.60 | | | 47.2 | | | 44.7 | | | — | | | 1,138.50 | |
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Other Assets | — | | | 417.5 | | | 18.5 | | | 117.5 | | | — | | | 553.5 | |
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Total Assets | $ | 983.1 | | | $ | 4,303.30 | | | $ | 118.3 | | | $ | 908.2 | | | $ | (1,684.3 | ) | | $ | 4,628.60 | |
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LIABILITIES | | | | | | | | | | | |
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Current Liabilities: | | | | | | | | | | | |
Short-Term Debt and Current Portion of Long-Term Debt | $ | — | | | $ | 62.3 | | | $ | — | | | $ | 17.5 | | | $ | — | | | $ | 79.8 | |
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Accounts Payable | — | | | 312.4 | | | 5.9 | | | 135.4 | | | — | | | 453.7 | |
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Interest Payable | — | | | 10.1 | | | — | | | — | | | — | | | 10.1 | |
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Intercompany | — | | | — | | | 52.5 | | | 658.5 | | | (711.0 | ) | | — | |
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Other Accrued Liabilities | — | | | 165.7 | | | 0.9 | | | 42.7 | | | — | | | 209.3 | |
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Total Current Liabilities | — | | | 550.5 | | | 59.3 | | | 854.1 | | | (711.0 | ) | | 752.9 | |
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Long-Term Debt | — | | | 2,212.90 | | | — | | | 40.6 | | | — | | | 2,253.50 | |
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Deferred Income Tax Liabilities | — | | | 134.1 | | | — | | | 10.7 | | | — | | | 144.8 | |
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Other Noncurrent Liabilities | — | | | 451.9 | | | — | | | 42.4 | | | — | | | 494.3 | |
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Redeemable Noncontrolling Interests | 10.8 | | | 10.8 | | | — | | | — | | | (10.8 | ) | | 10.8 | |
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EQUITY | | | | | | | | | | | |
Total Graphic Packaging Holding Company Shareholders’ Equity | 974 | | | 944.8 | | | 59 | | | (39.6 | ) | | (964.2 | ) | | 974 | |
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Noncontrolling Interests | (1.7 | ) | | (1.7 | ) | | — | | | — | | | 1.7 | | | (1.7 | ) |
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Total Equity | 972.3 | | | 943.1 | | | 59 | | | (39.6 | ) | | (962.5 | ) | | 972.3 | |
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Total Liabilities and Equity | $ | 983.1 | | | $ | 4,303.30 | | | $ | 118.3 | | | $ | 908.2 | | | $ | (1,684.3 | ) | | $ | 4,628.60 | |
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| Nine Months Ended September 30, 2013 |
In millions | Parent | | Subsidiary | | Combined | | Combined | | Consolidating | | Consolidated |
Issuer | Guarantor | Nonguarantor | Eliminations |
| Subsidiaries | Subsidiaries | |
CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | |
Net Income (Loss) | $ | 101.4 | | | $ | 101.4 | | | $ | 2.2 | | | $ | (2.9 | ) | | $ | (100.7 | ) | | $ | 101.4 | |
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Non-cash Items Included in Net Income (Loss): | | | | | | | | | | | |
Depreciation and Amortization | — | | | 166.8 | | | 3.1 | | | 38.6 | | | — | | | 208.5 | |
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Deferred Income Taxes | — | | | 61 | | | — | | | — | | | — | | | 61 | |
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Amount of Postretirement Expense Greater (Less) Than Funding | — | | | 3.6 | | | — | | | (4.4 | ) | | — | | | (0.8 | ) |
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Equity in Net Earnings of Subsidiaries | (101.4 | ) | | (1.5 | ) | | 2.2 | | | — | | | 100.7 | | | — | |
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Gain on the Sale of Assets | — | | | — | | | — | | | (26.6 | ) | | — | | | (26.6 | ) |
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Other, Net | — | | | 24.5 | | | — | | | 0.5 | | | — | | | 25 | |
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Changes in Operating Assets and Liabilities | — | | | (41.5 | ) | | (5.9 | ) | | (50.7 | ) | | (0.9 | ) | | (99.0 | ) |
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Net Cash Provided by (Used in) Operating Activities | — | | | 314.3 | | | 1.6 | | | (45.5 | ) | | (0.9 | ) | | 269.5 | |
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CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | |
Capital Spending | — | | | (130.7 | ) | | (1.6 | ) | | (20.9 | ) | | — | | | (153.2 | ) |
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Proceeds Received from the Sale of Assets | — | | | 0.3 | | | — | | | 64.3 | | | — | | | 64.6 | |
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Other, Net | (0.9 | ) | | (7.3 | ) | | — | | | — | | | 0.9 | | | (7.3 | ) |
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Net Cash (Used in) Provided by Investing Activities | (0.9 | ) | | (137.7 | ) | | (1.6 | ) | | 43.4 | | | 0.9 | | | (95.9 | ) |
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CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | |
Proceeds from Issuance or Modification of Debt | — | | | 425 | | | — | | | — | | | — | | | 425 | |
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Retirement of Long-Term Debt | — | | | (425.0 | ) | | — | | | — | | | — | | | (425.0 | ) |
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Payments on Debt | — | | | (45.0 | ) | | — | | | (11.0 | ) | | — | | | (56.0 | ) |
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Borrowings under Revolving Credit Facilities | — | | | 1,176.00 | | | — | | | 197.5 | | | — | | | 1,373.50 | |
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Payments on Revolving Credit Facilities | — | | | (1,238.8 | ) | | — | | | (179.9 | ) | | — | | | (1,418.7 | ) |
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Redemption and Debt Issuance Costs | — | | | (29.9 | ) | | — | | | — | | | — | | | (29.9 | ) |
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Repurchase of Common Stock related to Share-Based Payments | (11.2 | ) | | — | | | — | | | — | | | — | | | (11.2 | ) |
|
Other, Net | 12.1 | | | (0.9 | ) | | — | | | (0.4 | ) | | — | | | 10.8 | |
|
Net Cash Provided by (Used in) Financing Activities | 0.9 | | | (138.6 | ) | | — | | | 6.2 | | | — | | | (131.5 | ) |
|
| | | | | | | | | | | |
Effect of Exchange Rate Changes on Cash | — | | | — | | | — | | | (1.6 | ) | | — | | | (1.6 | ) |
|
| | | | | | | | | | | |
Net Increase in Cash and Cash Equivalents | — | | | 38 | | | — | | | 2.5 | | | — | | | 40.5 | |
|
Cash and Cash Equivalents at Beginning of Period | — | | | 5.9 | | | — | | | 45.6 | | | — | | | 51.5 | |
|
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ | — | | | $ | 43.9 | | | $ | — | | | $ | 48.1 | | | $ | — | | | $ | 92 | |
|
|
| | | | | | | | | | | | | | | | | | | | | | | |
| Nine Months Ended September 30, 2012 |
In millions | Parent | | Subsidiary | | Combined | | Combined | | Consolidating | | Consolidated |
Issuer | Guarantor | Nonguarantor | Eliminations |
| Subsidiaries | Subsidiaries | |
CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | |
Net Income (Loss) | $ | 97.6 | | | $ | 97.6 | | | $ | 1.6 | | | $ | (10.2 | ) | | $ | (89.0 | ) | | $ | 97.6 | |
|
Non-cash Items Included in Net Income (Loss): | | | | | | | | | | | |
Depreciation and Amortization | — | | | 169.5 | | | 3.1 | | | 29.4 | | | — | | | 202 | |
|
Deferred Income Taxes | — | | | 59.6 | | | — | | | 0.5 | | | — | | | 60.1 | |
|
Amount of Postretirement Expense (Less) Greater Than Funding | — | | | (10.8 | ) | | 0.6 | | | (1.5 | ) | | — | | | (11.7 | ) |
|
Equity in Net Earnings of Subsidiaries | (97.6 | ) | | 5.6 | | | 3 | | | — | | | 89 | | | — | |
|
Other, Net | — | | | 41.9 | | | — | | | (5.2 | ) | | — | | | 36.7 | |
|
Changes in Operating Assets and Liabilities | — | | | (68.6 | ) | | (8.0 | ) | | (19.8 | ) | | — | | | (96.4 | ) |
|
Net Cash Provided by (Used in) Operating Activities | — | | | 294.8 | | | 0.3 | | | (6.8 | ) | | — | | | 288.3 | |
|
| | | | | | | | | | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | |
Capital Spending | — | | | (107.8 | ) | | (0.3 | ) | | (20.3 | ) | | — | | | (128.4 | ) |
|
Proceeds Received from the Sale of Assets | — | | | 17.2 | | | — | | | — | | | — | | | 17.2 | |
|
Other, Net | — | | | (3.0 | ) | | — | | | — | | | — | | | (3.0 | ) |
|
Net Cash Used in Investing Activities | — | | | (93.6 | ) | | (0.3 | ) | | (20.3 | ) | | — | | | (114.2 | ) |
|
| | | | | | | | | | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | |
Proceeds from Issuance or Modification of Debt | — | | | 1,000.00 | | | — | | | — | | | — | | | 1,000.00 | |
|
Payments on Debt | — | | | (1,690.9 | ) | | — | | | — | | | — | | | (1,690.9 | ) |
|
Borrowings under Revolving Credit Facilities | — | | | 987.4 | | | — | | | 41.2 | | | — | | | 1,028.60 | |
|
Payments on Revolving Credit Facilities | — | | | (691.4 | ) | | — | | | (37.8 | ) | | — | | | (729.2 | ) |
|
Redemption and Debt Issuance Costs | — | | | (22.3 | ) | | — | | | — | | | — | | | (22.3 | ) |
|
Repurchase of Common Stock related to Share-Based Payments | (10.6 | ) | | — | | | — | | | — | | | — | | | (10.6 | ) |
|
Other, Net | 10.6 | | | (1.3 | ) | | — | | | 4.4 | | | — | | | 13.7 | |
|
Net Cash (Used in) Provided by Financing Activities | — | | | (418.5 | ) | | — | | | 7.8 | | | — | | | (410.7 | ) |
|
| | | | | | | | | | | |
Effect of Exchange Rate Changes on Cash | — | | | — | | | — | | | 1.3 | | | — | | | 1.3 | |
|
| | | | | | | | | | | |
Net Decrease in Cash and Cash Equivalents | — | | | (217.3 | ) | | — | | | (18.0 | ) | | — | | | (235.3 | ) |
|
Cash and Cash Equivalents at Beginning of Period | — | | | 228.9 | | | — | | | 42.9 | | | — | | | 271.8 | |
|
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ | — | | | $ | 11.6 | | | $ | — | | | $ | 24.9 | | | $ | — | | | $ | 36.5 | |
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