Supplemental Guarantor Subsidiaries Information | 6 Months Ended |
Jun. 30, 2014 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Supplemental Guarantor Subsidiaries Information | ' |
Supplemental Guarantor Subsidiaries Information |
BWAY Intermediate and certain subsidiaries of BWAY Holding (collectively with BWAY Intermediate, the “BWAY Guarantors”) have guaranteed the 2018 Notes on a senior unsecured basis. These guarantees are joint and several obligations of the BWAY Guarantors. Each of the BWAY Guarantors that is a subsidiary of BWAY Holding is a direct or indirect domestic subsidiary that is 100% owned. Our Canadian subsidiaries do not guarantee the 2018 Notes. |
In the following tables, we present consolidating supplemental financial information for BWAY Intermediate (parent guarantor), BWAY Holding (issuer), the guarantor subsidiaries of BWAY Holding, the non-guarantor subsidiaries of BWAY Holding, and applicable eliminations. |
We have prepared the following information using the equity method of accounting and certain financing arrangements have been pushed down through intercompany transactions including third party debt, debt issuance costs, and related interest expense to the guarantor subsidiaries. For example, interest expense associated with the debt of BWAY Holding is included in the interest expense of its guarantor subsidiaries, which are paying the interest. In addition, we have pushed down the benefit from income taxes associated with BWAY Holding’s debt to the guarantor subsidiaries. The amounts pushed down to the subsidiaries are reflected in the parent entity’s equity in income or loss of subsidiaries. |
BWAY Intermediate Company, Inc. and Subsidiaries |
Supplemental Unaudited Condensed Consolidating Balance Sheet |
As of June 30, 2014 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
($ in millions) | | BWAY | | BWAY | | Guarantor | | Non | | Eliminations | | Consolidated |
Intermediate | Holding | Subsidiaries | Guarantor |
(Parent) | (Issuer) | | Subsidiaries |
Assets | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | — | | | $ | 1.2 | | | $ | 1 | | | $ | — | | | $ | 2.2 | |
|
Accounts receivable, net | | — | | | — | | | 175.6 | | | 28.8 | | | — | | | 204.4 | |
|
Inventories | | — | | | — | | | 137.1 | | | 17.8 | | | — | | | 154.9 | |
|
Deferred tax assets | | — | | | — | | | 28.2 | | | 1.5 | | | — | | | 29.7 | |
|
Intercompany - current | | — | | | 11.1 | | | — | | | — | | | (11.1 | ) | | — | |
|
Other current assets | | — | | | — | | | 21.6 | | | 4.6 | | | — | | | 26.2 | |
|
Total current assets | | — | | | 11.1 | | | 363.7 | | | 53.7 | | | (11.1 | ) | | 417.4 | |
|
Property, plant and equipment, net | | — | | | — | | | 305.6 | | | 51.4 | | | — | | | 357 | |
|
Goodwill | | — | | | — | | | 569.5 | | | — | | | — | | | 569.5 | |
|
Other intangible assets, net | | — | | | — | | | 594.8 | | | 29.8 | | | — | | | 624.6 | |
|
Deferred debt issuance costs | | — | | | 19.9 | | | — | | | — | | | — | | | 19.9 | |
|
Other assets | | — | | | — | | | 5.6 | | | 0.2 | | | — | | | 5.8 | |
|
Related party note receivable | | — | | | — | | | 16.9 | | | — | | | (16.9 | ) | | — | |
|
Intercompany - non-current | | — | | | 913.9 | | | 6.5 | | | — | | | (920.4 | ) | | — | |
|
Investment in subsidiaries | | 546 | | | 546 | | | 71.6 | | | — | | | (1,163.6 | ) | | — | |
|
Total assets | | $ | 546 | | | $ | 1,490.90 | | | $ | 1,934.20 | | | $ | 135.1 | | | $ | (2,112.0 | ) | | $ | 1,994.20 | |
|
Liabilities and Shareholder’s Equity | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | |
Accounts payable | | $ | — | | | $ | — | | | $ | 113.6 | | | $ | 15.4 | | | $ | — | | | $ | 129 | |
|
Other current liabilities | | — | | | 3.8 | | | 39.8 | | | 6 | | | — | | | 49.6 | |
|
Current portion of long-term debt | | — | | | 7.3 | | | — | | | — | | | — | | | 7.3 | |
|
Intercompany - current | | — | | | — | | | 11.1 | | | — | | | (11.1 | ) | | — | |
|
Total current liabilities | | — | | | 11.1 | | | 164.5 | | | 21.4 | | | (11.1 | ) | | 185.9 | |
|
Long-term debt | | — | | | 933.8 | | | — | | | — | | | — | | | 933.8 | |
|
Related party note payable | | — | | | — | | | — | | | 16.9 | | | (16.9 | ) | | — | |
|
Deferred tax liabilities | | — | | | — | | | 275 | | | 16.9 | | | — | | | 291.9 | |
|
Intercompany - non-current | | — | | | — | | | 913.9 | | | 6.5 | | | (920.4 | ) | | — | |
|
Other liabilities | | — | | | — | | | 34.8 | | | 1.8 | | | — | | | 36.6 | |
|
Total shareholder’s equity | | 546 | | | 546 | | | 546 | | | 71.6 | | | (1,163.6 | ) | | 546 | |
|
Total liabilities and shareholder’s equity | | $ | 546 | | | $ | 1,490.90 | | | $ | 1,934.20 | | | $ | 135.1 | | | $ | (2,112.0 | ) | | $ | 1,994.20 | |
|
BWAY Intermediate Company, Inc. and Subsidiaries |
Supplemental Unaudited Condensed Consolidating Balance Sheet |
As of December 31, 2013 |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
($ in millions) | | BWAY | | BWAY | | Guarantor | | Non | | Eliminations | | Consolidated |
Intermediate | Holding | Subsidiaries | Guarantor |
(Parent) | (Issuer) | | Subsidiaries |
Assets | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | — | | | $ | 32.4 | | | $ | 7.9 | | | $ | — | | | $ | 40.3 | |
|
Accounts receivable, net | | — | | | — | | | 125.4 | | | 16.1 | | | — | | | 141.5 | |
|
Inventories | | — | | | — | | | 148.9 | | | 18.9 | | | — | | | 167.8 | |
|
Deferred tax assets | | — | | | — | | | 28.2 | | | 1.5 | | | — | | | 29.7 | |
|
Intercompany - current | | — | | | 11.1 | | | — | | | — | | | (11.1 | ) | | — | |
|
Other current assets | | — | | | — | | | 21.6 | | | 0.9 | | | — | | | 22.5 | |
|
Total current assets | | — | | | 11.1 | | | 356.5 | | | 45.3 | | | (11.1 | ) | | 401.8 | |
|
Property, plant and equipment, net | | — | | | — | | | 298.4 | | | 51.2 | | | — | | | 349.6 | |
|
Goodwill | | — | | | — | | | 577.8 | | | — | | | — | | | 577.8 | |
|
Other intangible assets, net | | — | | | — | | | 628.5 | | | 31.5 | | | — | | | 660 | |
|
Deferred debt issuance costs | | — | | | 22.9 | | | — | | | — | | | — | | | 22.9 | |
|
Other assets | | — | | | — | | | 5.2 | | | — | | | — | | | 5.2 | |
|
Related party note receivable | | — | | | — | | | 16.9 | | | — | | | (16.9 | ) | | — | |
|
Intercompany - non-current | | — | | | 915.3 | | | 3.1 | | | — | | | (918.4 | ) | | — | |
|
Investment in subsidiaries | | 546.2 | | | 546.2 | | | 72.5 | | | — | | | (1,164.9 | ) | | — | |
|
Total assets | | $ | 546.2 | | | $ | 1,495.50 | | | $ | 1,958.90 | | | $ | 128 | | | $ | (2,111.3 | ) | | $ | 2,017.30 | |
|
Liabilities and Shareholder’s Equity | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | |
Accounts payable | | $ | — | | | $ | — | | | $ | 117 | | | $ | 14.7 | | | $ | — | | | $ | 131.7 | |
|
Other current liabilities | | — | | | 3.8 | | | 47.2 | | | 3.9 | | | — | | | 54.9 | |
|
Current portion of long-term debt | | — | | | 7.3 | | | — | | | — | | | — | | | 7.3 | |
|
Intercompany - current | | — | | | — | | | 11.1 | | | — | | | (11.1 | ) | | — | |
|
Total current liabilities | | — | | | 11.1 | | | 175.3 | | | 18.6 | | | (11.1 | ) | | 193.9 | |
|
Long-term debt | | — | | | 938.2 | | | — | | | — | | | — | | | 938.2 | |
|
Related party note payable | | — | | | — | | | — | | | 16.9 | | | (16.9 | ) | | — | |
|
Deferred tax liabilities | | — | | | — | | | 284.7 | | | 15.1 | | | — | | | 299.8 | |
|
Intercompany - non-current | | — | | | — | | | 915.3 | | | 3.1 | | | (918.4 | ) | | — | |
|
Other liabilities | | — | | | — | | | 37.4 | | | 1.8 | | | — | | | 39.2 | |
|
Total shareholder’s equity | | 546.2 | | | 546.2 | | | 546.2 | | | 72.5 | | | (1,164.9 | ) | | 546.2 | |
|
Total liabilities and shareholder’s equity | | $ | 546.2 | | | $ | 1,495.50 | | | $ | 1,958.90 | | | $ | 128 | | | $ | (2,111.3 | ) | | $ | 2,017.30 | |
|
BWAY Intermediate Company, Inc. and Subsidiaries |
Supplemental Unaudited Condensed Consolidating |
Statement of Operations and Comprehensive Income Information |
For the three months ended June 30, 2014 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
($ in millions) | | BWAY | | BWAY | | Guarantor | | Non | | Eliminations | | Consolidated |
Intermediate | Holding | Subsidiaries | Guarantor |
(Parent) | (Issuer) | | Subsidiaries |
Net sales | | $ | — | | | $ | — | | | $ | 375.3 | | | $ | 40.6 | | | $ | — | | | $ | 415.9 | |
|
Costs and expenses | | | | | | | | | | | | |
Cost of products sold (excluding depreciation and amortization) | | — | | | — | | | 308.7 | | | 35.3 | | | — | | | 344 | |
|
Depreciation and amortization | | — | | | — | | | 32.4 | | | 3 | | | — | | | 35.4 | |
|
Selling and administrative | | — | | | — | | | 6.1 | | | 0.8 | | | — | | | 6.9 | |
|
Restructuring | | — | | | — | | | 1.4 | | | 0.1 | | | — | | | 1.5 | |
|
Interest | | — | | | 14.4 | | | 0.4 | | | — | | | — | | | 14.8 | |
|
Related party interest (income) expense | | — | | | (14.4 | ) | | 14.4 | | | — | | | — | | | — | |
|
Transaction costs | | — | | | — | | | 0.4 | | | — | | | — | | | 0.4 | |
|
Management fee | | — | | | — | | | 1.2 | | | — | | | — | | | 1.2 | |
|
Related party management fee | | — | | | — | | | (0.9 | ) | | 0.9 | | | — | | | — | |
|
Other income | | — | | | — | | | (0.1 | ) | | (0.1 | ) | | — | | | (0.2 | ) |
|
Total costs and expenses | | — | | | — | | | 364 | | | 40 | | | — | | | 404 | |
|
Income before income taxes | | — | | | — | | | 11.3 | | | 0.6 | | | — | | | 11.9 | |
|
Provision for income taxes | | — | | | — | | | 4 | | | 0.6 | | | — | | | 4.6 | |
|
Equity in income of subsidiaries | | 7.3 | | | 7.3 | | | — | | | — | | | (14.6 | ) | | — | |
|
Net income | | $ | 7.3 | | | $ | 7.3 | | | $ | 7.3 | | | $ | — | | | $ | (14.6 | ) | | $ | 7.3 | |
|
Comprehensive income | | $ | 10.5 | | | $ | 10.5 | | | $ | 10.5 | | | $ | 3.2 | | | $ | (24.2 | ) | | $ | 10.5 | |
|
|
BWAY Intermediate Company, Inc. and Subsidiaries |
Supplemental Unaudited Condensed Consolidating |
Statement of Operations and Comprehensive Income (Loss) Information |
For the six months ended June 30, 2014 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
($ in millions) | | BWAY | | BWAY | | Guarantor | | Non | | Eliminations | | Consolidated |
Intermediate | Holding | Subsidiaries | Guarantor |
(Parent) | (Issuer) | | Subsidiaries |
Net sales | | $ | — | | | $ | — | | | $ | 715.1 | | | $ | 72.1 | | | $ | — | | | $ | 787.2 | |
|
Costs and expenses | | | | | | | | | | | | |
Cost of products sold (excluding depreciation and amortization) | | — | | | — | | | 590.6 | | | 64.3 | | | — | | | 654.9 | |
|
Depreciation and amortization | | — | | | — | | | 63.9 | | | 6.1 | | | — | | | 70 | |
|
Selling and administrative | | — | | | — | | | 12 | | | 1.3 | | | — | | | 13.3 | |
|
Restructuring | | — | | | — | | | 1.7 | | | 0.1 | | | — | | | 1.8 | |
|
Interest | | — | | | 28.7 | | | 0.5 | | | — | | | — | | | 29.2 | |
|
Related party interest (income) expense | | — | | | (28.7 | ) | | 28.7 | | | — | | | — | | | — | |
|
Transaction costs | | — | | | — | | | 0.6 | | | — | | | — | | | 0.6 | |
|
Management fee | | — | | | — | | | 2.5 | | | — | | | — | | | 2.5 | |
|
Related party management fee | | — | | | — | | | (1.8 | ) | | 1.8 | | | — | | | — | |
|
Other expense | | — | | | — | | | — | | | — | | | — | | | — | |
|
Total costs and expenses | | — | | | — | | | 698.7 | | | 73.6 | | | — | | | 772.3 | |
|
Income (loss) before income taxes | | — | | | — | | | 16.4 | | | (1.5 | ) | | — | | | 14.9 | |
|
Provision for (benefit from) income taxes | | — | | | — | | | 6.3 | | | (0.6 | ) | | — | | | 5.7 | |
|
Equity in income (loss) of subsidiaries | | 9.2 | | | 9.2 | | | (0.9 | ) | | — | | | (17.5 | ) | | — | |
|
Net income (loss) | | $ | 9.2 | | | $ | 9.2 | | | $ | 9.2 | | | $ | (0.9 | ) | | $ | (17.5 | ) | | $ | 9.2 | |
|
Comprehensive income (loss) | | $ | 9.2 | | | $ | 9.2 | | | $ | 9.2 | | | $ | (0.9 | ) | | $ | (17.5 | ) | | $ | 9.2 | |
|
BWAY Intermediate Company, Inc. and Subsidiaries |
Supplemental Unaudited Condensed Consolidating Statement of |
Operations and Comprehensive Loss Information |
For the three months ended June 30, 2013 (Revised) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
($ in millions) | | BWAY | | BWAY | | Guarantor | | Non | | Eliminations | | Consolidated |
Intermediate | Holding | Subsidiaries | Guarantor |
(Parent) | (Issuer) | | Subsidiaries |
Net sales | | $ | — | | | $ | — | | | $ | 350 | | | $ | 42.5 | | | $ | — | | | $ | 392.5 | |
|
Cost and expenses | | | | | | | | | | | | |
Cost of products sold (excluding depreciation and amortization | | — | | | — | | | 284.6 | | | 36 | | | — | | | 320.6 | |
|
Depreciation and amortization | | — | | | — | | | 32.1 | | | 3.7 | | | — | | | 35.8 | |
|
Selling and administrative | | — | | | — | | | 11.5 | | | 0.9 | | | — | | | 12.4 | |
|
Restructuring | | — | | | — | | | 2.9 | | | 2.6 | | | — | | | 5.5 | |
|
Interest | | — | | | 14.8 | | | 0.4 | | | — | | | — | | | 15.2 | |
|
Related party interest (income) expense | | — | | | (14.8 | ) | | 14.3 | | | 0.5 | | | — | | | — | |
|
Business acquisition costs | | — | | | — | | | 0.4 | | | — | | | — | | | 0.4 | |
|
Management fee | | — | | | — | | | 1.2 | | | — | | | — | | | 1.2 | |
|
Other income | | — | | | — | | | (0.6 | ) | | (0.3 | ) | | — | | | (0.9 | ) |
|
Total costs and expenses | | — | | | — | | | 346.8 | | | 43.4 | | | — | | | 390.2 | |
|
Income before income taxes | | — | | | — | | | 3.2 | | | (0.9 | ) | | — | | | 2.3 | |
|
Provision for income taxes | | — | | | — | | | 0.7 | | | 1.1 | | | — | | | 1.8 | |
|
Equity in income (loss) of subsidiaries | | 0.5 | | | 0.5 | | | (2.0 | ) | | — | | | 1 | | | — | |
|
Net income (loss) | | $ | 0.5 | | | $ | 0.5 | | | $ | 0.5 | | | $ | (2.0 | ) | | $ | 1 | | | $ | 0.5 | |
|
Comprehensive loss | | $ | (1.9 | ) | | $ | (1.9 | ) | | $ | (1.9 | ) | | $ | (4.4 | ) | | $ | 8.2 | | | $ | (1.9 | ) |
|
|
BWAY Intermediate Company, Inc. and Subsidiaries |
Supplemental Unaudited Condensed Consolidating Statement of |
Operations and Comprehensive Loss Information |
For the six months ended June 30, 2013 (Revised) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
($ in millions) | | BWAY | | BWAY | | Guarantor | | Non | | Eliminations | | Consolidated |
Intermediate | Holding | Subsidiaries | Guarantor |
(Parent) | (Issuer) | | Subsidiaries |
Net sales | | $ | — | | | $ | — | | | $ | 673.5 | | | $ | 73 | | | $ | — | | | $ | 746.5 | |
|
Cost and expenses | | | | | | | | | | | | |
Cost of products sold (excluding depreciation and amortization | | — | | | — | | | 556.1 | | | 62 | | | — | | | 618.1 | |
|
Depreciation and amortization | | — | | | — | | | 63.2 | | | 7.1 | | | — | | | 70.3 | |
|
Selling and administrative | | — | | | — | | | 19.8 | | | 1.7 | | | — | | | 21.5 | |
|
Restructuring | | — | | | — | | | 4.3 | | | 2.8 | | | — | | | 7.1 | |
|
Interest | | — | | | 28.5 | | | 0.5 | | | — | | | — | | | 29 | |
|
Related party interest (income) expense | | — | | | (28.5 | ) | | 27.5 | | | 1 | | | — | | | — | |
|
Business acquisition costs | | — | | | — | | | 5.1 | | | — | | | — | | | 5.1 | |
|
Management fee | | — | | | — | | | 2.5 | | | — | | | — | | | 2.5 | |
|
Other income | | — | | | — | | | (0.7 | ) | | (0.4 | ) | | — | | | (1.1 | ) |
|
Total costs and expenses | | — | | | — | | | 678.3 | | | 74.2 | | | — | | | 752.5 | |
|
Loss (income) before income taxes | | — | | | — | | | (4.8 | ) | | (1.2 | ) | | — | | | (6.0 | ) |
|
(Benefit from) provision for income taxes | | — | | | — | | | (3.4 | ) | | 1.7 | | | — | | | (1.7 | ) |
|
Equity in loss of subsidiaries | | (4.3 | ) | | (4.3 | ) | | (2.9 | ) | | — | | | 11.5 | | | — | |
|
Net loss | | $ | (4.3 | ) | | $ | (4.3 | ) | | $ | (4.3 | ) | | $ | (2.9 | ) | | $ | 11.5 | | | $ | (4.3 | ) |
|
Comprehensive loss | | $ | (9.2 | ) | | $ | (9.2 | ) | | $ | (9.2 | ) | | $ | (7.8 | ) | | $ | 26.2 | | | $ | (9.2 | ) |
|
BWAY Intermediate Company, Inc. and Subsidiaries |
Supplemental Unaudited Condensed Consolidating Statement of |
Cash Flows Information |
For the six months ended June 30, 2014 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
($ in millions) | | BWAY | | BWAY | | Guarantor | | Non | | Eliminations | | Consolidated |
Intermediate | Holding | Subsidiaries | Guarantor |
(Parent) | (Issuer) | | Subsidiaries |
Net cash provided by (used in) operating activities | | $ | — | | | $ | — | | | $ | 28.3 | | | $ | (2.9 | ) | | $ | — | | | $ | 25.4 | |
|
Cash flows from investing activities | | | | | | | | | | | | |
Capital expenditures | | — | | | — | | | (40.3 | ) | | (4.0 | ) | | — | | | (44.3 | ) |
|
Net proceeds from disposition of equipment | | — | | | — | | | 0.2 | | | — | | | — | | | 0.2 | |
|
Return of equity from subsidiaries | | 15.9 | | | 15.9 | | | — | | | — | | | (31.8 | ) | | — | |
|
Change in intercompany | | — | | | 2.9 | | | — | | | — | | | (2.9 | ) | | — | |
|
Net cash provided by (used in) investing activities | | 15.9 | | | 18.8 | | | (40.1 | ) | | (4.0 | ) | | (34.7 | ) | | (44.1 | ) |
|
Cash flows from financing activities | | | | | | | | | | | | |
Repayments of secured debt | | — | | | (3.7 | ) | | — | | | — | | | — | | | (3.7 | ) |
|
Proceeds from revolving credit facility borrowings | | — | | | 57.9 | | | — | | | — | | | — | | | 57.9 | |
|
Repayments of revolving credit facility borrowings | | — | | | (57.1 | ) | | — | | | — | | | — | | | (57.1 | ) |
|
Dividend to Parent | | (15.9 | ) | | (15.9 | ) | | (15.9 | ) | | — | | | 31.8 | | | (15.9 | ) |
|
Principal payments under capital lease obligations | | — | | | — | | | (0.6 | ) | | — | | | — | | | (0.6 | ) |
|
Change in intercompany | | — | | | — | | | (2.9 | ) | | — | | | 2.9 | | | — | |
|
Net cash used in financing activities | | (15.9 | ) | | (18.8 | ) | | (19.4 | ) | | — | | | 34.7 | | | (19.4 | ) |
|
Effect of exchange rate changes on cash and cash equivalents | | — | | | — | | | — | | | — | | | — | | | — | |
|
Net decrease in cash and cash equivalents | | — | | | — | | | (31.2 | ) | | (6.9 | ) | | — | | | (38.1 | ) |
|
Cash and cash equivalents, beginning of period | | — | | | — | | | 32.4 | | | 7.9 | | | — | | | 40.3 | |
|
Cash and cash equivalents, end of period | | $ | — | | | $ | — | | | $ | 1.2 | | | $ | 1 | | | $ | — | | | $ | 2.2 | |
|
BWAY Intermediate Company, Inc. and Subsidiaries |
Supplemental Unaudited Condensed Consolidating Statement of |
Cash Flows Information |
For the six months ended June 30, 2013 |
(Revised) |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
($ in millions) | | BWAY | | BWAY | | Guarantor | | Non | | Eliminations | | Consolidated |
Intermediate | Holding | Subsidiaries | Guarantor |
(Parent) | (Issuer) | | Subsidiaries |
Net cash provided by operating activities | | $ | — | | | $ | — | | | $ | 39.6 | | | $ | 6.8 | | | $ | — | | | $ | 46.4 | |
|
Cash flows from investing activities | | | | | | | | | | | | |
Capital expenditures | | — | | | — | | | (29.3 | ) | | (2.4 | ) | | — | | | (31.7 | ) |
|
Cash paid for acquisitions, net of cash acquired | | — | | | — | | | (265.3 | ) | | — | | | — | | | (265.3 | ) |
|
Net proceeds from disposition of equipment | | — | | | — | | | 0.2 | | | — | | | — | | | 0.2 | |
|
Return of equity from subsidiaries | | 17.1 | | | 17.1 | | | — | | | — | | | (34.2 | ) | | — | |
|
Change in intercompany | | — | | | (273.9 | ) | | (0.4 | ) | | — | | | 274.3 | | | — | |
|
Net cash provided by (used in) investing activities | | 17.1 | | | (256.8 | ) | | (294.8 | ) | | (2.4 | ) | | 240.1 | | | (296.8 | ) |
|
Cash flows from financing activities | | | | | | | | | | | | |
Proceeds from issuance of secured debt | | — | | | 261 | | | — | | | — | | | — | | | 261 | |
|
Repayments of secured debt | | — | | | (3.7 | ) | | — | | | — | | | — | | | (3.7 | ) |
|
Proceeds from revolving credit facility borrowings | | — | | | 157.6 | | | — | | | — | | | — | | | 157.6 | |
|
Repayments from revolving credit facility borrowings | | — | | | (131.9 | ) | | — | | | — | | | — | | | (131.9 | ) |
|
Principal repayments under capital lease obligations | | — | | | — | | | (0.5 | ) | | — | | | — | | | (0.5 | ) |
|
Payment of debt issuance costs | | — | | | (9.1 | ) | | — | | | — | | | — | | | (9.1 | ) |
|
Dividend paid to Parent | | (17.1 | ) | | (17.1 | ) | | (17.1 | ) | | — | | | 34.2 | | | (17.1 | ) |
|
Change in intercompany | | — | | | — | | | 273.9 | | | 0.4 | | | (274.3 | ) | | — | |
|
Net cash (used in) provided by financing activities | | (17.1 | ) | | 256.8 | | | 256.3 | | | 0.4 | | | (240.1 | ) | | 256.3 | |
|
Effect of exchange rate changes on cash and cash equivalents | | — | | | — | | | — | | | 0.1 | | | — | | | 0.1 | |
|
Net increase in cash and cash equivalents | | — | | | — | | | 1.1 | | | 4.9 | | | — | | | 6 | |
|
Cash and cash equivalents, beginning of period | | — | | | — | | | 0.5 | | | 1.7 | | | — | | | 2.2 | |
|
Cash and cash equivalents, end of period | | $ | — | | | $ | — | | | $ | 1.6 | | | $ | 6.6 | | | $ | — | | | $ | 8.2 | |
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