Milacron (MZIAQ) 10-Q 11 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Document And Entity Information [Abstract]
Entity Registrant Name	Milacron Holdings Corp.
Entity Central Index Key	1,637,913
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	66,586,389

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 78.5	$ 81.5
Accounts receivable, net	190.7	183.3
Inventories, net:
Raw materials	89.2	84.5
Work-in-process	61.8	52.5
Finished products	103.3	101.1
Total inventories	254.3	238.1
Prepaid and other current assets	45.8	43.1
Total current assets	569.3	546
Property and equipment, net	215.2	216.9
Goodwill	540.6	548.6
Intangible assets, net	409.9	442.8
Other noncurrent assets	34.9	36.4
Total assets	1,769.9	1,790.7
Current liabilities:
Short-term borrowings	7.7	9.2
Long-term debt and capital lease obligations due within one year	0.5	3.8
Accounts payable	90.9	89.9
Advanced billings and deposits	53.3	58.5
Accrued salaries, wages and other compensation	33.8	33.2
Accrued interest	14	16.2
Other current liabilities	64.9	60.2
Total current liabilities	265.1	271
Long-term debt and capital lease obligations	946.9	1,021.6
Deferred income tax liabilities	70.4	72.6
Accrued pension liabilities	27.1	29
Other noncurrent accrued liabilities	9.5	11.1
Total liabilities	1,319	1,405.3
Shareholders’ equity:
Preferred stock - $0.01 par value, 50,000,000 shares authorized, none outstanding	0	0
Common stock - $0.01 par value, 500,000,000 shares authorized; 66,586,389 and 52,286,100	0.7	0.5
Capital in excess of par value	626.7	499.6
Retained deficit	(103.7)	(60.6)
Accumulated other comprehensive loss	(72.8)	(54.1)
Total shareholders’ equity	450.9	385.4
Total liabilities and shareholders’ equity	$ 1,769.9	$ 1,790.7

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	66,586,389	52,286,100
Common stock, shares outstanding (in shares)	66,586,389	52,286,100

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Net sales	$ 301.3	$ 295.9	$ 580.5	$ 576.2
Cost of sales	197.1	193.7	378.4	375.1
Manufacturing margins	104.2	102.2	202.1	201.1
Operating expenses:
Selling, general and administrative expenses	72.1	69.9	138.3	135.3
Amortization expense	9.2	11.1	18.6	22
(Gain) loss on currency translation	(1.3)	(4.2)	9.9	2.3
Other expense, net	4.6	0.6	8.3	1.4
Total operating expenses	84.6	77.4	175.1	161
Operating earnings	19.6	24.8	27	40.1
Interest expense, net	18.4	18.7	36.8	37.6
Loss on debt extinguishment	22.2	2.9	22.2	3.4
(Loss) earnings before income taxes	(21)	3.2	(32)	(0.9)
Income tax expense	6.2	5.3	11.1	9.5
Net loss	(27.2)	(2.1)	(43.1)	(10.4)
Less: Net loss attributable to the noncontrolling interest	0	0	0	0.1
Net loss attributable to Milacron Holdings Corp.	$ (27.2)	$ (2.1)	$ (43.1)	$ (10.3)
Loss per share:
Basic (in dollars per share)	$ (0.51)	$ (0.04)	$ (0.82)	$ (0.20)
Diluted (in dollars per share)	$ (0.51)	$ (0.04)	$ (0.82)	$ (0.20)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (27.2)	$ (2.1)	$ (43.1)	$ (10.4)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	2.7	2.3	(20.6)	(12.5)
Unrecognized post-retirement plan (loss) gain	(0.1)	(0.1)	0.5	(0.3)
Unrealized gain on hedging activities	0.4	1.5	1.4	2.3
Total other comprehensive income (loss), net of tax	3	3.7	(18.7)	(10.5)
Comprehensive (loss) income	(24.2)	1.6	(61.8)	(20.9)
Less: Comprehensive loss attributable to noncontrolling interest	0	0	0	0.1
Comprehensive (loss) income attributable to Milacron Holdings Corp.	$ (24.2)	$ 1.6	$ (61.8)	$ (20.8)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities
Net loss	$ (43.1)	$ (10.4)
Less: Net loss attributable to noncontrolling interest	0	0.1
Net loss attributable to Milacron Holdings Corp.	(43.1)	(10.3)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	32.2	35.2
Unrealized loss (gain) on currency translation of intercompany advances	10.2	(0.2)
Amortization of deferred financing costs	2.2	2.5
Loss on debt extinguishment	8.4	1.8
Trademark impairment	2.2	0
Non-cash stock-based compensation expense	6.8	2.5
Deferred income taxes	0.4	(0.3)
Changes in assets and liabilities:
Accounts receivable	(12.8)	(7.1)
Inventories	(21.8)	(25.7)
Prepaid and other current assets	(0.5)	(8.7)
Accounts payable	5.9	13.2
Advanced billings and deposits	(4.2)	2.1
Other current liabilities	7.2	(3.2)
Other noncurrent assets	(2.1)	0.3
Other noncurrent accrued liabilities	(0.7)	2.6
Net cash (used in) provided by operating activities	(9.7)	4.7
Investing activities
Purchases of property and equipment	(26.8)	(16.1)
Proceeds from disposals of property and equipment	0.8	0.1
Acquisitions, net of cash acquired	0	(53)
Net cash used in investing activities	(26)	(69)
Financing activities
Proceeds from issuance of long-term debt (original maturities longer than 90 days)	795.3	127
Payments on long-term debt and capital lease obligations (original maturities longer than 90 days)	(873.9)	(79.8)
Net (decrease) increase in short-term borrowings (original maturities of 90 days or less)	(1)	0.5
Purchase of noncontrolling interest	0	(1.9)
Dividends paid	(144.6)	0
Proceeds from the issuance of common stock	285.7	1
Initial public offering issuance costs	(20.4)	0
Proceeds from exercise of stock options	0.1	0
Debt issuance costs	(6.2)	(1.4)
Net cash provided by financing activities	35	45.4
Effect of exchange rate changes on cash	(2.3)	0.1
Decrease in cash and cash equivalents	(3)	(18.8)
Cash and cash equivalents at beginning of period	81.5	100.7
Cash and cash equivalents at end of period	$ 78.5	$ 81.9

Background and Basis of Present

Background and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation Milacron Holdings Corp. (the Company or Milacron) is a global leader in the manufacture, distribution, and service of highly engineered and customized systems used in the plastic technology and processing industry. The Company has a full-line product portfolio that includes hot runner systems, injection molding, blow molding and extrusion equipment and produces process control systems, mold bases and components and maintenance, repair and operating (MRO) supplies for plastic processing equipment and fluid technology. The Company operates throughout the world and is headquartered in Cincinnati, Ohio. The accompanying unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with generally accepted accounting principles for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles (U.S. GAAP) for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) have been made that are necessary for a fair presentation of the Condensed Consolidated Financial Statements for the interim periods. The interim period results are not necessarily indicative of the results to be expected for the full year. These interim Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and related notes for the fiscal year ended December 31, 2014 included in the Company’s Registration Statement (Registration No. 333-203231) which was declared effective by the SEC on June 24, 2015. Stock Split The Company’s Board of Directors and stockholders approved a 106.3 for 1 stock split of the Company’s common stock on June 12, 2015 . All common share and common per share amounts in the Condensed Consolidated Financial Statements and notes thereto have been retroactively adjusted for all periods presented to give effect to this stock split. Initial Public Offering On June 30, 2015, the Company completed its initial public offering (IPO) whereby the Company sold 14,285,714 shares of common stock at a price of $20.00 per share. The shares began trading on the New York Stock Exchange on June 25, 2015 . The aggregate net proceeds received by the Company from the offering was approximately $265.0 million , net of underwriting discounts and commissions and estimated offering expenses. The net proceeds were used to repay existing indebtedness as further described in Note 5. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606) . Topic 606 affects virtually all aspects of an entity’s revenue recognition, including determining the measurement of revenue and the timing of when it is recognized for the transfer of goods or services to customers. In July 2015, the FASB approved a one-year deferral of the effective date, which would make Topic 606 effective for annual reporting periods beginning after December 15, 2017. The Company is currently evaluating the effect that the adoption of Topic 606 will have on the Company's Condensed Consolidated Financial Statements. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability. This ASU is effective on a retrospective basis for annual reporting periods beginning after December 15, 2015; however, early adoption is permitted. The Company is currently evaluating the effect that the adoption of this ASU will have on the Company's Condensed Consolidated Financial Statements. In May 2015, the FASB issued ASU No. 2015-07, Disclosures for Investments in Certain Entities that Calculate Net Asset Value (NAV) per Share (or Its Equivalent). Under ASU No. 2015-07 investments measured at net asset value (NAV), as a practical expedient for fair value, are excluded from the fair value hierarchy. The Company is currently evaluating the effect that the adoption of this ASU will have on the Company's Condensed Consolidated Financial Statements. Reclassifications Certain amounts in the prior period Condensed Consolidated Financial Statements have been reclassified to conform to the current year’s presentation.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Business Combinations	Business Combinations During the six months ended June 30, 2014 , the Company completed five acquisitions. The total consideration, net of cash acquired, related to the acquisitions was $50.4 million . The Company accounted for the acquisitions using the acquisition method of accounting in accordance with applicable U.S. GAAP whereby the total purchase price was allocated to tangible and intangible assets acquired and liabilities assumed based on respective estimated fair values. The following table summarizes the values of the assets acquired and liabilities assumed at the date of acquisition (dollars in millions): Accounts receivable $ 2.7 Total inventories 4.8 Prepaid and other current assets 4.3 Property and equipment 10.2 Intangible assets 13.7 Goodwill 32.2 Accounts payable (2.4 ) Advanced billings and deposits (6.5 ) Other current liabilities (4.1 ) Deferred income tax liabilities (2.5 ) Other noncurrent accrued liabilities (2.0 ) Consideration, net of cash acquired $ 50.4 Goodwill was calculated as the excess of the consideration transferred over the net assets recognized and represents several strategic benefits including a comprehensive portfolio of brands, complementary product offerings and attractive synergy opportunities. Goodwill recognized as a result of the acquisitions is not deductible for income tax purposes. See Note 3 for additional information regarding goodwill and other intangible assets. Acquisition related costs were expensed as incurred and included legal fees and advisory services. The Company incurred acquisition related costs of $ 0.2 million and $1.1 million for the three and six months ended June 30, 2014 , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following table summarizes the changes in the Company’s goodwill, by reportable segment, for the six months ended June 30, 2015 : Advanced Plastic Processing Technologies Melt Delivery and Control Systems Fluid Technologies Corporate Total (in millions) Balance at December 31, 2014 $ 26.1 $ 475.6 $ 46.9 $ — $ 548.6 Foreign currency translation adjustments — (8.0 ) — — (8.0 ) Balance at June 30, 2015 $ 26.1 $ 467.6 $ 46.9 $ — $ 540.6 The following table summarizes the Company’s other intangible assets at June 30, 2015 : Gross Amount Accumulated Amortization Net Amount (in millions) Intangible assets subject to amortization: Non-compete agreements $ 1.0 $ 0.9 $ 0.1 Trademarks 43.6 13.2 30.4 Technology 121.2 24.1 97.1 Customer relationships 226.2 89.6 136.6 Total intangible assets subject to amortization 392.0 127.8 264.2 Trademarks, not subject to amortization 145.7 — 145.7 Total $ 537.7 $ 127.8 $ 409.9 The following table summarizes the Company’s other intangible assets at December 31, 2014 : Gross Amount Accumulated Amortization Net Amount (in millions) Intangible assets subject to amortization: Non-compete agreements $ 1.9 $ 1.8 $ 0.1 Trademarks 48.1 12.4 35.7 Technology 127.1 19.9 107.2 Customer relationships 231.2 79.7 151.5 Total intangible assets subject to amortization 408.3 113.8 294.5 Trademarks, not subject to amortization 148.3 — 148.3 Total $ 556.6 $ 113.8 $ 442.8 Consolidated amortization expense related to intangible assets subject to amortization was $9.2 million and $11.1 million for the three months ended June 30, 2015 and 2014 , respectively. Consolidated amortization expense related to intangible assets subject to amortization was $ 18.6 million and $ 22.0 million for the six months ended June 30, 2015 and 2014, respectively. In connection with the Company's rebranding initiative and marketing strategy, the Company ceased utilizing certain trademarks within the Advanced Plastic Processing Technologies reportable segment during the second quarter of 2015. The Company concluded this was an indicator of impairment and the Company recognized an impairment charge of $2.2 million for the three months ended June 30, 2015 which is included within other expense, net on the Company's Condensed Consolidated Statement of Operations.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes An estimated annual effective tax rate is used to determine the quarterly provision for income taxes. The effective rate is based on various factors including expected annual income, statutory tax rates, tax planning opportunities in the various jurisdictions in which the Company operates, permanent items, valuation allowances against deferred tax assets and the ability to utilize tax credits and net operating loss (NOL) carryforwards. Subsequent recognition, derecognition and measurement of tax positions are separately recognized in the quarter in which the underlying transaction or event occurs which causes variability in the effective tax rates from quarter to quarter. The effective rate for each period differs from the U.S. federal statutory income tax rate due to the mix of earnings by jurisdiction and the effect of transaction costs and business combination accounting adjustments that do not provide tax benefits. Since the Company operates in multiple taxing jurisdictions at rates that are typically less than the U.S. statutory rate, the consolidated effective rate is typically lower than 35% . The valuation allowances also cause volatility in the effective rate as they reduce deferred tax assets in jurisdictions which lack sufficient positive evidence regarding the ability to utilize the assets and no tax benefit or expense is recognized for losses or income incurred in those jurisdictions. In accordance with Accounting Standards Codification 740, the Company records interest and penalties associated with uncertain tax positions within income tax expense within the Company's Condensed Consolidated Statements of Operations. The Company does not have a material liability recorded for interest and penalties related to uncertain tax positions for any period presented. The utilization of the Company's NOL and tax credit carryforwards may be subject to limitation under the rules regarding a change in stock ownership as determined by the Internal Revenue Code, and state and foreign tax laws. Section 382 of the Internal Revenue Code of 1986, as amended, imposes annual limitations on the utilization of NOL carryforwards, other tax carryforwards, and certain built-in losses upon an ownership change as defined under that section. In general terms, an ownership change may result from transactions that increase the aggregate ownership of certain stockholders in the Company’s stock by more than 50 percentage points over a three year testing period (Section 382 Ownership Change). If the Company has undergone a Section 382 Ownership Change, an annual limitation would be imposed on certain of the Company’s tax attributes, including NOL and capital loss carryforwards, and certain other losses, credits, deductions or tax basis. As of June 30, 2015 the Company has determined that multiple ownership changes under Section 382 have occurred. The Company has not completed a formal study to determine whether there are 382 limitations as a result of the Company's IPO; however, if a Section 382 Ownership Change occurred as a result of the Company's IPO, the Company has estimated that there would be no material impact to the Company's Condensed Consolidated Financial Statements.

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt Debt for the Company consists of the following: June 30, December 31, (in millions) 8.375% senior secured notes due 2019 $ — $ 220.0 Senior secured term loan facility due March 2020 — 338.7 7.75% senior unsecured notes due 2021 465.0 465.0 Senior secured term loan facility due September 2020 481.3 — Borrowings under other lines of credit 7.8 9.2 Capital lease obligations and other 1.0 1.7 955.1 1,034.6 Less current portion (8.2 ) (13.0 ) $ 946.9 $ 1,021.6 On May 14, 2015 , the Company entered into a new $730.0 million senior secured term loan facility with a maturity date of September 28, 2020 (the “New Term Loan Facility”) and amended and restated the credit agreement governing the senior secured asset-based revolving credit facility (the “ABL Facility” and, together with the New Term Loan Facility, the “Senior Secured Credit Facilities”), among other things, to conform certain terms in the credit agreement governing the ABL Facility to the terms contained in the credit agreement governing the New Term Loan Facility. The net proceeds from the New Term Loan Facility were used (i) to repay in full $339.1 million principal amount outstanding under the Company's existing senior secured term loan facility due March 2020 (the "Term Loan Facility"), (ii) to redeem in full $220.0 million aggregate principal amount outstanding of our 8.375% Senior Secured Notes due 2019 (the “Senior Secured Notes”) on May 15, 2015 at a redemption price of 106.281% of the principal amount thereof, plus accrued and unpaid interest, to, but not including May 15, 2015 and (iii) to pay a cash dividend of approximately $145 million to the holders of the Company's common stock. In connection with these transactions, the Company recognized an $ 18.6 million loss on the early extinguishment of debt which is classified within loss on debt extinguishment in the Company's Condensed Consolidated Statements of Operations. The loss on debt extinguishment includes a $ 13.8 million premium paid to redeem the Senior Secured Notes and the write-off of $ 4.8 million of deferred financing costs and debt discount associated with the Senior Secured Notes and the Term Loan Facility. The Company also capitalized an additional $ 5.2 million of deferred financing costs related to the issuance of the New Term Loan Facility which are being amortized over the term of the loan using the effective interest rate method. On June 30, 2015, in connection with the Company's completion of its IPO, the Company repaid $ 248.0 million of the principal amount outstanding under the New Term Loan Facility. As a result of this repayment, the Company recognized a $ 3.6 million loss on the early extinguishment of debt which is classified within loss on debt extinguishment in the Company's Condensed Consolidated Statements of Operations. On March 31, 2014, the Company borrowed an additional $100.0 million , net of a discount of $0.5 million , under the Term Loan Facility. The agreement was also amended to reduce the margin on the interest rate from 3.25% to 3.00% . No other significant terms of the facility were changed. In April of 2014, the Company redeemed $55.0 million of the Senior Secured Notes. The Company recorded a $2.9 million loss on the early extinguishment of debt related to the redemption that is recorded within loss on debt extinguishment in the Company's Condensed Consolidated Statements of Operations.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company sponsors three noncontributory defined benefit pension plans for certain non-U.S. employees and retirees. One plan covers certain employees in the United Kingdom and the other two plans cover certain employees in Germany. Net periodic pension expense was $0.3 million and $0.6 million for both the three and six months ended June 30, 2015 and 2014 , respectively, and is included in cost of sales and selling, general and administrative expenses in the Company's Condensed Consolidated Statements of Operations.

Net Loss Per Share and Sharehol

Net Loss Per Share and Shareholders' Equity	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Net Loss Per Share and Shareholders' Equity	Net Loss Per Share and Shareholders’ Equity The following is a reconciliation of the numerator and denominator of the basic and diluted net loss per share (EPS) computations: Three Months Ended Six Months Ended 2015 2014 2015 2014 (In millions, except common share and per common share amounts) Numerator: Net loss applicable to common shareholders $ (27.2 ) $ (2.1 ) $ (43.1 ) $ (10.3 ) Denominator: Denominator for basic EPS–weighted-average common shares 53,237,740 52,164,034 52,765,856 52,133,076 Dilutive effect of stock-based compensation arrangements — — — — Denominator for diluted EPS–adjusted weighted-average common shares 53,237,740 52,164,034 52,765,856 52,133,076 Basic EPS $ (0.51 ) $ (0.04 ) $ (0.82 ) $ (0.20 ) Diluted EPS $ (0.51 ) $ (0.04 ) $ (0.82 ) $ (0.20 ) The diluted EPS calculation for the three and six months ended June 30, 2015 excludes the effect of 266,313 shares of restricted stock, 16,125 restricted stock units and 6,352,762 outstanding stock options as their effect is anti-dilutive. The diluted EPS calculation for the three and six months ended June 30, 2014 excludes the effect of 5,945,572 outstanding stock options, as their effect is anti-dilutive. Holders of non-vested stock-based compensation awards do not have voting rights or rights to receive nonforfeitable dividends on the shares covered by the awards. On February 17, 2014 , the Company acquired all the noncontrolling shares of Milacron Plastics Machinery (Jiangyin) Co., Ltd. for $1.9 million . As the Company already held a controlling interest, the purchase was accounted for as an equity transaction. For the six months ended June 30, 2014, the Company recognized a reduction in paid-in capital of $1.6 million for the excess of par value of the purchase of the noncontrolling shares.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation In connection with the cash dividend of approximately $145 million paid to the holders of the Company's common stock, as disclosed in Note 5, the Company made an adjustment to the exercise price of all stock options outstanding as of that date in accordance with the stock option agreements’ original terms and conditions related to anti-dilution. The dividend, $2.77 on a per share basis, reduced the exercise price of all outstanding options from $9.41 to $6.64 effective May 15, 2015 . The Company's Board of Directors adopted its 2015 Equity Incentive Plan (2015 Plan) which became effective upon the pricing of the Company's IPO. The 2015 Plan allows for the granting of stock options, stock appreciation rights, restricted stock awards, restricted stock units and other awards convertible into or otherwise based on shares of the Company's common stock. On June 25, 2015, in connection with the IPO, the Company granted 1,260,567 stock options, 136,441 stock appreciation rights, 266,313 restricted stock awards and 16,125 restricted stock units under the 2015 Plan. The stock options, valued using a closed form option pricing model, and stock appreciation rights granted vest in equal annual increments over four years . The restricted stock awards vest on the third anniversary of the date of grant and the restricted stock units vest two business days after the public disclosure in 2016 of the Company’s financial results for fiscal year 2015. As a result of the Company's completion of its IPO, the Company recognized $ 4.6 million of stock-based compensation expense associated with performance-based awards previously granted under the Company's 2012 Equity Incentive Plan. This cumulative catch-up was recognized once satisfaction of the performance condition within the awards became probable. As the awards remain subject to a market condition, the performance-based awards remain unvested as of June 30, 2015. In addition, the Company also recognized $ 3.7 million of stock-based compensation expense during the second quarter of 2015 related to outstanding stock appreciation rights which are recorded at fair value.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments In the normal course of business, including the purchasing of materials and selling of products, the Company is exposed to certain risks related to fluctuations in foreign currency exchange rates. The Company uses foreign currency forward contracts to manage risks from these market fluctuations. The Company currently hedges its risk relative to fluctuations in the Canadian dollar and Japanese yen for forecasted cash outflows denominated in these currencies. The Company had foreign currency forward contracts denominated in these currencies outstanding with notional amounts totaling $19.4 million at June 30, 2015 and $29.3 million at December 31, 2014 . As of June 30, 2015 , all of the Company’s outstanding instruments mature within the next 11 months . The Company’s derivative instruments discussed above are designated as cash flow hedges and the fair value of these derivative instruments was $1.7 million at June 30, 2015 and $3.1 million at December 31, 2014 which is included in other current liabilities. The following table provides the effect of the Company’s designated cash flow hedges on the Company’s Condensed Consolidated Financial Statements for the three and six months ended June 30, 2015 and 2014 : Type of instrument: Gain (Loss) Recognized in OCI on Derivative (Effective Portion) Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (in millions) Three months ended June 30, 2015: Foreign exchange contract $ 0.7 $ (0.7 ) Three months ended June 30, 2014: Foreign exchange contract $ 0.5 $ (0.6 ) Six months ended June 30, 2015: Foreign exchange contract $ 2.0 $ (2.1 ) Six months ended June 30, 2014: Foreign exchange contract $ 1.4 $ (1.8 ) All gains (losses) that are reclassified from accumulated other comprehensive income (loss) into income (effective portion) are classified in (gain) loss on currency translation or cost of sales within the Company's Condensed Consolidated Statements of Operations. The gain (loss) recognized related to the ineffective portion of the derivative instruments was immaterial for all periods presented. At June 30, 2015 , deferred losses of $1.7 million on derivative instruments included in accumulated other comprehensive income (loss) are expected to be reclassified into earnings during the next 11 months. During the three months ended June 30, 2015 and 2014 , the Company recorded a net loss of $0.7 million and $0.6 million , respectively, related to the settlement of forward contracts which were designated as cash flow hedges. During the six months ended June 30, 2015 and 2014, the Company recorded a net loss of $ 2.1 million and $ 1.8 million , respectively, related to the settlement of forward contracts which were designated as cash flow hedges. The Company estimates fair value of its financial instruments utilizing an established three-level hierarchy. The hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date as follows: • Level 1–Valuation is based upon unadjusted quoted prices for identical assets or liabilities in active markets. • Level 2–Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial statements. • Level 3–Valuation is based upon other unobservable inputs that are significant to the fair value measurements. The classification of fair value measurements within the established three-level hierarchy is based upon the lowest level of input that is significant to that measurement. The fair values of the Company’s derivatives instruments were measured using valuations based upon quoted prices for similar assets and liabilities in active markets (Level 2) and are valued by reference to similar financial instruments, adjusted for terms specific to the contracts. There were no transfers between the three levels of the fair value hierarchy during any period presented. The derivative assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 were as follows: Total Level 1 Level 2 Level 3 (in millions) June 30, 2015 Foreign currency forward contracts (liability position) $ 1.7 $ — $ 1.7 $ — December 31, 2014 Foreign currency forward contracts (liability position) $ 3.1 $ — $ 3.1 $ — The Company also enters into derivative instruments (forwards) to economically hedge the impact of fluctuations in the Indian rupee. During the three months ended June 30, 2014 , the Company recognized a gain of $0.2 million related to changes in fair value of these derivative instruments not designated as hedges. During the six months ended June 30, 2015 and 2014, the Company recognized a gain of $0.3 million and $0.1 million , respectively, related to the changes in fair value of these derivative instruments not designated as hedges. These gains and losses are recognized immediately within the Company's Condensed Consolidated Statements of Operations and are classified within (gain) loss on currency translation. The fair value of these derivative instruments not designated as hedges as June 30, 2015 was de minimis.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss): Foreign Currency Translation Unrecognized Post- Retirement Plan Losses Derivative Financial Instruments Total (in millions) Balance at March 31, 2014 $ (11.1 ) $ (1.7 ) $ (1.0 ) $ (13.8 ) Other comprehensive income (loss) before reclassifications 2.3 (0.1 ) 1.0 3.2 Amounts reclassified from accumulated other comprehensive income (loss) — — 0.5 0.5 Other comprehensive income (loss) 2.3 (0.1 ) 1.5 3.7 Balance at June 30, 2014 $ (8.8 ) $ (1.8 ) $ 0.5 $ (10.1 ) Balance at March 31, 2015 $ (68.7 ) $ (5.0 ) $ (2.1 ) $ (75.8 ) Other comprehensive income (loss) before reclassifications 2.7 (0.1 ) (0.3 ) 2.3 Amounts reclassified from accumulated other comprehensive income (loss) — — 0.7 0.7 Other comprehensive income (loss) 2.7 (0.1 ) 0.4 3.0 Balance at June 30, 2015 $ (66.0 ) $ (5.1 ) $ (1.7 ) $ (72.8 ) Balance at December 31, 2013 $ 3.7 $ (1.5 ) $ (1.8 ) $ 0.4 Other comprehensive income (loss) before reclassifications (12.5 ) (0.3 ) 0.9 (11.9 ) Amounts reclassified from accumulated other comprehensive income (loss) — — 1.4 1.4 Other comprehensive income (loss) (12.5 ) (0.3 ) 2.3 (10.5 ) Balance at June 30, 2014 $ (8.8 ) $ (1.8 ) $ 0.5 $ (10.1 ) Balance at December 31, 2014 $ (45.4 ) $ (5.6 ) $ (3.1 ) $ (54.1 ) Other comprehensive income (loss) before reclassifications (20.6 ) 0.5 (0.6 ) (20.7 ) Amounts reclassified from accumulated other comprehensive income (loss) — — 2.0 2.0 Other comprehensive income (loss) (20.6 ) 0.5 1.4 (18.7 ) Balance at June 30, 2015 $ (66.0 ) $ (5.1 ) $ (1.7 ) $ (72.8 ) The following table summarizes the reclassifications out of accumulated other comprehensive income (loss) during the three months ended June 30, 2015 and 2014 : Classification Three Months Ended of Expense 2015 2014 (in millions) Derivative financial instruments: Loss on derivative financial instruments (a) $ (0.7 ) $ (0.6 ) Tax benefit (b) — 0.1 Total reclassifications from accumulated other comprehensive income (loss) $ (0.7 ) $ (0.5 ) Classification Six Months Ended of Expense 2015 2014 (in millions) Derivative financial instruments: Loss on derivative financial instruments (a) $ (2.1 ) $ (1.8 ) Tax benefit (b) 0.1 0.4 Total reclassifications from accumulated other comprehensive income (loss) $ (2.0 ) $ (1.4 ) (a) Amount is included in cost of sales and (gain) loss on currency translation in the Company's Condensed Consolidated Statements of Operations. (b) These amounts are included in income tax expense in the Company's Condensed Consolidated Statements of Operations.

Warranty Reserves

Warranty Reserves	6 Months Ended
	Jun. 30, 2015
Product Warranties Disclosures [Abstract]
Warranty Reserves	Warranty Reserves A reserve for estimated warranty costs is recorded at the time of sale of machinery and parts and is periodically adjusted to reflect actual experience. The following tables summarize changes in the Company’s warranty reserves. Accrued warranty reserves are included in other current liabilities in the Company's Condensed Consolidated Balance Sheets. Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 (in millions) Balance at beginning of period $ 8.4 $ 8.8 $ 8.6 $ 8.5 Warranty expense 0.5 0.7 1.4 2.4 Warranty assumed as a result of acquisitions — 0.1 — 0.5 Warranty claims paid (0.9 ) (1.0 ) (1.6 ) (2.8 ) Foreign currency translation adjustments 0.3 — (0.1 ) — Balance at end of period $ 8.3 $ 8.6 $ 8.3 $ 8.6

Restructuring Reserves

Restructuring Reserves	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring Reserves	Restructuring Reserves The Company recorded severance expense of $ 1.4 million and $ 4.1 million during the three and six months ended June 30, 2015, respectively, related to the Company's organizational redesign initiatives in Europe including the consolidation of certain manufacturing operations to the Czech Republic. These amounts are included within other expense, net in the Company's Condensed Consolidated Statements of Operations and are expected to be substantially paid in cash by June 30, 2016. The total remaining liability under these severance-related actions, which is included within other current liabilities in the Company's Condensed Consolidated Balance Sheets, was $ 3.2 million as of June 30, 2015 compared to $ 2.6 million as of March 31, 2015. Total severance expense for the six months ended June 30, 2015, by segment, is as follows: Advanced Plastic Processing Technologies, $ 1.2 million ; Melt Delivery and Control Systems, $ 2.7 million ; Fluid Technologies, $ 0.2 million .

Related-Party Transaction

Related-Party Transaction	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related-Party Transaction	Related-Party Transaction The Company executed an advisory services and monitoring agreement with CCMP Capital Advisors, LLC (CCMP) on April 30, 2012 that provides a quarterly advisory fee to CCMP. The Company incurred $0.2 million and $ 0.3 million of expense for both the three and six months ended June 30, 2015 and 2014 , respectively, related to the advisory services and monitoring agreement and these costs are included within selling, general and administrative expenses within the Company's Condensed Consolidated Statements of Operations. In connection with the Company's IPO, the advisory services and monitoring agreement between the Company and CCMP was terminated.

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company’s operations are principally managed based upon the products that are produced and are comprised of three operating segments, which are the same as the Company’s reportable segments: Advanced Plastic Processing Technologies, Melt Delivery and Control Systems, and Fluid Technologies. The factors for determining the Company’s reportable segments include the manner in which management evaluates performance combined with the nature of the individual business activities. The Company evaluates the performance of its segments based on net sales and operating earnings. Operating earnings includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segments. Operating earnings for each segment excludes items that are of a non-operating nature or are of a corporate or functional governance nature. Costs excluded from segment operating earnings include interest expense, income taxes and various corporate expenses such as transaction costs associated with the acquisition of certain businesses, stock-based compensation expense and other separately managed general and administrative costs. The effects of intersegment transactions have been eliminated. The following table summarizes total assets by segment: June 30, December 31, (in millions) Advanced Plastic Processing Technologies $ 476.0 $ 460.9 Melt Delivery and Control Systems 1,094.4 1,112.1 Fluid Technologies 146.0 150.2 Corporate 53.5 67.5 Total assets $ 1,769.9 $ 1,790.7 The following table summarizes long-lived assets by segment: June 30, December 31, (in millions) Advanced Plastic Processing Technologies $ 103.1 $ 98.3 Melt Delivery and Control Systems 92.2 97.6 Fluid Technologies 15.6 17.1 Corporate 4.3 3.9 Total long-lived assets $ 215.2 $ 216.9 The following tables summarize segment information: Three months ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in millions) Net sales to external customers: Advanced Plastic Processing Technologies $ 169.9 $ 158.3 $ 321.3 $ 310.3 Melt Delivery and Control Systems 101.8 105.2 201.2 201.8 Fluid Technologies 29.6 32.4 58.0 64.1 Total net sales to external customers $ 301.3 $ 295.9 $ 580.5 $ 576.2 Three months ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in millions) Operating earnings: Advanced Plastic Processing Technologies $ 13.2 $ 7.2 $ 24.0 $ 18.0 Melt Delivery and Control Systems 20.9 22.6 23.3 33.2 Fluid Technologies 3.8 2.7 6.6 5.1 Corporate (18.3 ) (7.7 ) (26.9 ) (16.2 ) Operating earnings $ 19.6 $ 24.8 $ 27.0 $ 40.1 Capital expenditures: Advanced Plastic Processing Technologies $ 6.9 $ 4.8 $ 16.5 $ 7.6 Melt Delivery and Control Systems 4.8 1.9 9.3 7.2 Fluid Technologies 0.1 0.1 0.3 0.3 Corporate 0.4 0.3 0.7 1.0 Total capital expenditures $ 12.2 $ 7.1 $ 26.8 $ 16.1 Depreciation and amortization: Advanced Plastic Processing Technologies $ 5.1 $ 5.5 $ 10.4 $ 11.0 Melt Delivery and Control Systems 9.1 10.1 18.2 19.6 Fluid Technologies 1.7 2.3 3.4 4.6 Corporate 0.1 (0.1 ) 0.2 — Total depreciation and amortization $ 16.0 $ 17.8 $ 32.2 $ 35.2 The following tables summarize net sales to external customers and long-lived assets by geographic region: Three months ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in millions) Net sales to external customers: United States $ 143.0 $ 131.6 $ 272.9 $ 255.2 Rest of World 158.3 164.3 307.6 321.0 Total net sales to external customers $ 301.3 $ 295.9 $ 580.5 $ 576.2 June 30, December 31, 2014 (in millions) Long-lived assets United States $ 73.5 $ 72.8 Rest of World 141.7 144.1 Long-lived assets $ 215.2 $ 216.9

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In July 2015 the Company recognized $ 11.3 million of additional stock-based compensation expense related to time-based and performance-based awards previously granted to management personnel. These awards contained a market condition in which the vesting of the awards was accelerated upon the satisfaction of the market condition. Based upon the trading price of the Company's common stock subsequent to the IPO, the market condition was satisfied which resulted in the vesting of the awards in July 2015 and the Company's recognition of all previously unrecognized stock-based compensation expense associated with these awards. In July 2015 the Company's underwriters exercised their option to purchase additional shares of the Company's common stock. The underwriters purchased 415,600 shares of the Company's common stock at the public offering price of $ 20.00 per share, less the underwriting discount, and on July 29, 2015 the Company received $ 7.7 million in proceeds, net of the underwriting discount and estimated expenses.

Background and Basis of Prese22

Background and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with generally accepted accounting principles for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles (U.S. GAAP) for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) have been made that are necessary for a fair presentation of the Condensed Consolidated Financial Statements for the interim periods. The interim period results are not necessarily indicative of the results to be expected for the full year. These interim Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and related notes for the fiscal year ended December 31, 2014 included in the Company’s Registration Statement (Registration No. 333-203231) which was declared effective by the SEC on June 24, 2015.
Recently Issued Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606) . Topic 606 affects virtually all aspects of an entity’s revenue recognition, including determining the measurement of revenue and the timing of when it is recognized for the transfer of goods or services to customers. In July 2015, the FASB approved a one-year deferral of the effective date, which would make Topic 606 effective for annual reporting periods beginning after December 15, 2017. The Company is currently evaluating the effect that the adoption of Topic 606 will have on the Company's Condensed Consolidated Financial Statements. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability. This ASU is effective on a retrospective basis for annual reporting periods beginning after December 15, 2015; however, early adoption is permitted. The Company is currently evaluating the effect that the adoption of this ASU will have on the Company's Condensed Consolidated Financial Statements. In May 2015, the FASB issued ASU No. 2015-07, Disclosures for Investments in Certain Entities that Calculate Net Asset Value (NAV) per Share (or Its Equivalent). Under ASU No. 2015-07 investments measured at net asset value (NAV), as a practical expedient for fair value, are excluded from the fair value hierarchy. The Company is currently evaluating the effect that the adoption of this ASU will have on the Company's Condensed Consolidated Financial Statements.
Reclassifications	Certain amounts in the prior period Condensed Consolidated Financial Statements have been reclassified to conform to the current year’s presentation.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Assets Acquired and Liabilities Assumed	The following table summarizes the values of the assets acquired and liabilities assumed at the date of acquisition (dollars in millions): Accounts receivable $ 2.7 Total inventories 4.8 Prepaid and other current assets 4.3 Property and equipment 10.2 Intangible assets 13.7 Goodwill 32.2 Accounts payable (2.4 ) Advanced billings and deposits (6.5 ) Other current liabilities (4.1 ) Deferred income tax liabilities (2.5 ) Other noncurrent accrued liabilities (2.0 ) Consideration, net of cash acquired $ 50.4

Goodwill and Other Intangible24

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, by Reportable Segment	The following table summarizes the changes in the Company’s goodwill, by reportable segment, for the six months ended June 30, 2015 : Advanced Plastic Processing Technologies Melt Delivery and Control Systems Fluid Technologies Corporate Total (in millions) Balance at December 31, 2014 $ 26.1 $ 475.6 $ 46.9 $ — $ 548.6 Foreign currency translation adjustments — (8.0 ) — — (8.0 ) Balance at June 30, 2015 $ 26.1 $ 467.6 $ 46.9 $ — $ 540.6
Intangible Assets, Subject to Amortization	The following table summarizes the Company’s other intangible assets at June 30, 2015 : Gross Amount Accumulated Amortization Net Amount (in millions) Intangible assets subject to amortization: Non-compete agreements $ 1.0 $ 0.9 $ 0.1 Trademarks 43.6 13.2 30.4 Technology 121.2 24.1 97.1 Customer relationships 226.2 89.6 136.6 Total intangible assets subject to amortization 392.0 127.8 264.2 Trademarks, not subject to amortization 145.7 — 145.7 Total $ 537.7 $ 127.8 $ 409.9 The following table summarizes the Company’s other intangible assets at December 31, 2014 : Gross Amount Accumulated Amortization Net Amount (in millions) Intangible assets subject to amortization: Non-compete agreements $ 1.9 $ 1.8 $ 0.1 Trademarks 48.1 12.4 35.7 Technology 127.1 19.9 107.2 Customer relationships 231.2 79.7 151.5 Total intangible assets subject to amortization 408.3 113.8 294.5 Trademarks, not subject to amortization 148.3 — 148.3 Total $ 556.6 $ 113.8 $ 442.8
Intangible Assets, Not Subject to Amortization	The following table summarizes the Company’s other intangible assets at June 30, 2015 : Gross Amount Accumulated Amortization Net Amount (in millions) Intangible assets subject to amortization: Non-compete agreements $ 1.0 $ 0.9 $ 0.1 Trademarks 43.6 13.2 30.4 Technology 121.2 24.1 97.1 Customer relationships 226.2 89.6 136.6 Total intangible assets subject to amortization 392.0 127.8 264.2 Trademarks, not subject to amortization 145.7 — 145.7 Total $ 537.7 $ 127.8 $ 409.9 The following table summarizes the Company’s other intangible assets at December 31, 2014 : Gross Amount Accumulated Amortization Net Amount (in millions) Intangible assets subject to amortization: Non-compete agreements $ 1.9 $ 1.8 $ 0.1 Trademarks 48.1 12.4 35.7 Technology 127.1 19.9 107.2 Customer relationships 231.2 79.7 151.5 Total intangible assets subject to amortization 408.3 113.8 294.5 Trademarks, not subject to amortization 148.3 — 148.3 Total $ 556.6 $ 113.8 $ 442.8

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt	Debt for the Company consists of the following: June 30, December 31, (in millions) 8.375% senior secured notes due 2019 $ — $ 220.0 Senior secured term loan facility due March 2020 — 338.7 7.75% senior unsecured notes due 2021 465.0 465.0 Senior secured term loan facility due September 2020 481.3 — Borrowings under other lines of credit 7.8 9.2 Capital lease obligations and other 1.0 1.7 955.1 1,034.6 Less current portion (8.2 ) (13.0 ) $ 946.9 $ 1,021.6

Net Loss Per Share and Shareh26

Net Loss Per Share and Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator of the Basic and Diluted Net Loss Per Share	The following is a reconciliation of the numerator and denominator of the basic and diluted net loss per share (EPS) computations: Three Months Ended Six Months Ended 2015 2014 2015 2014 (In millions, except common share and per common share amounts) Numerator: Net loss applicable to common shareholders $ (27.2 ) $ (2.1 ) $ (43.1 ) $ (10.3 ) Denominator: Denominator for basic EPS–weighted-average common shares 53,237,740 52,164,034 52,765,856 52,133,076 Dilutive effect of stock-based compensation arrangements — — — — Denominator for diluted EPS–adjusted weighted-average common shares 53,237,740 52,164,034 52,765,856 52,133,076 Basic EPS $ (0.51 ) $ (0.04 ) $ (0.82 ) $ (0.20 ) Diluted EPS $ (0.51 ) $ (0.04 ) $ (0.82 ) $ (0.20 )

Derivative Financial Instrume27

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Effect of Designated Cash Flow Hedges on the Financial Statements	The following table provides the effect of the Company’s designated cash flow hedges on the Company’s Condensed Consolidated Financial Statements for the three and six months ended June 30, 2015 and 2014 : Type of instrument: Gain (Loss) Recognized in OCI on Derivative (Effective Portion) Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (in millions) Three months ended June 30, 2015: Foreign exchange contract $ 0.7 $ (0.7 ) Three months ended June 30, 2014: Foreign exchange contract $ 0.5 $ (0.6 ) Six months ended June 30, 2015: Foreign exchange contract $ 2.0 $ (2.1 ) Six months ended June 30, 2014: Foreign exchange contract $ 1.4 $ (1.8 )
Derivative Assets and Liabilities Measured at Fair Value	The derivative assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 were as follows: Total Level 1 Level 2 Level 3 (in millions) June 30, 2015 Foreign currency forward contracts (liability position) $ 1.7 $ — $ 1.7 $ — December 31, 2014 Foreign currency forward contracts (liability position) $ 3.1 $ — $ 3.1 $ —

Accumulated Other Comprehensi28

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Changes in Each Component of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss): Foreign Currency Translation Unrecognized Post- Retirement Plan Losses Derivative Financial Instruments Total (in millions) Balance at March 31, 2014 $ (11.1 ) $ (1.7 ) $ (1.0 ) $ (13.8 ) Other comprehensive income (loss) before reclassifications 2.3 (0.1 ) 1.0 3.2 Amounts reclassified from accumulated other comprehensive income (loss) — — 0.5 0.5 Other comprehensive income (loss) 2.3 (0.1 ) 1.5 3.7 Balance at June 30, 2014 $ (8.8 ) $ (1.8 ) $ 0.5 $ (10.1 ) Balance at March 31, 2015 $ (68.7 ) $ (5.0 ) $ (2.1 ) $ (75.8 ) Other comprehensive income (loss) before reclassifications 2.7 (0.1 ) (0.3 ) 2.3 Amounts reclassified from accumulated other comprehensive income (loss) — — 0.7 0.7 Other comprehensive income (loss) 2.7 (0.1 ) 0.4 3.0 Balance at June 30, 2015 $ (66.0 ) $ (5.1 ) $ (1.7 ) $ (72.8 ) Balance at December 31, 2013 $ 3.7 $ (1.5 ) $ (1.8 ) $ 0.4 Other comprehensive income (loss) before reclassifications (12.5 ) (0.3 ) 0.9 (11.9 ) Amounts reclassified from accumulated other comprehensive income (loss) — — 1.4 1.4 Other comprehensive income (loss) (12.5 ) (0.3 ) 2.3 (10.5 ) Balance at June 30, 2014 $ (8.8 ) $ (1.8 ) $ 0.5 $ (10.1 ) Balance at December 31, 2014 $ (45.4 ) $ (5.6 ) $ (3.1 ) $ (54.1 ) Other comprehensive income (loss) before reclassifications (20.6 ) 0.5 (0.6 ) (20.7 ) Amounts reclassified from accumulated other comprehensive income (loss) — — 2.0 2.0 Other comprehensive income (loss) (20.6 ) 0.5 1.4 (18.7 ) Balance at June 30, 2015 $ (66.0 ) $ (5.1 ) $ (1.7 ) $ (72.8 )
Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the reclassifications out of accumulated other comprehensive income (loss) during the three months ended June 30, 2015 and 2014 : Classification Three Months Ended of Expense 2015 2014 (in millions) Derivative financial instruments: Loss on derivative financial instruments (a) $ (0.7 ) $ (0.6 ) Tax benefit (b) — 0.1 Total reclassifications from accumulated other comprehensive income (loss) $ (0.7 ) $ (0.5 ) Classification Six Months Ended of Expense 2015 2014 (in millions) Derivative financial instruments: Loss on derivative financial instruments (a) $ (2.1 ) $ (1.8 ) Tax benefit (b) 0.1 0.4 Total reclassifications from accumulated other comprehensive income (loss) $ (2.0 ) $ (1.4 ) (a) Amount is included in cost of sales and (gain) loss on currency translation in the Company's Condensed Consolidated Statements of Operations. (b) These amounts are included in income tax expense in the Company's Condensed Consolidated Statements of Operations.

Warranty Reserves (Tables)

Warranty Reserves (Tables)	6 Months Ended
	Jun. 30, 2015
Product Warranties Disclosures [Abstract]
Changes in the Company's Warranty Reserves	The following tables summarize changes in the Company’s warranty reserves. Accrued warranty reserves are included in other current liabilities in the Company's Condensed Consolidated Balance Sheets. Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 (in millions) Balance at beginning of period $ 8.4 $ 8.8 $ 8.6 $ 8.5 Warranty expense 0.5 0.7 1.4 2.4 Warranty assumed as a result of acquisitions — 0.1 — 0.5 Warranty claims paid (0.9 ) (1.0 ) (1.6 ) (2.8 ) Foreign currency translation adjustments 0.3 — (0.1 ) — Balance at end of period $ 8.3 $ 8.6 $ 8.3 $ 8.6

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Business Segment Information	The following table summarizes total assets by segment: June 30, December 31, (in millions) Advanced Plastic Processing Technologies $ 476.0 $ 460.9 Melt Delivery and Control Systems 1,094.4 1,112.1 Fluid Technologies 146.0 150.2 Corporate 53.5 67.5 Total assets $ 1,769.9 $ 1,790.7 The following table summarizes long-lived assets by segment: June 30, December 31, (in millions) Advanced Plastic Processing Technologies $ 103.1 $ 98.3 Melt Delivery and Control Systems 92.2 97.6 Fluid Technologies 15.6 17.1 Corporate 4.3 3.9 Total long-lived assets $ 215.2 $ 216.9 The following tables summarize segment information: Three months ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in millions) Net sales to external customers: Advanced Plastic Processing Technologies $ 169.9 $ 158.3 $ 321.3 $ 310.3 Melt Delivery and Control Systems 101.8 105.2 201.2 201.8 Fluid Technologies 29.6 32.4 58.0 64.1 Total net sales to external customers $ 301.3 $ 295.9 $ 580.5 $ 576.2 Three months ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in millions) Operating earnings: Advanced Plastic Processing Technologies $ 13.2 $ 7.2 $ 24.0 $ 18.0 Melt Delivery and Control Systems 20.9 22.6 23.3 33.2 Fluid Technologies 3.8 2.7 6.6 5.1 Corporate (18.3 ) (7.7 ) (26.9 ) (16.2 ) Operating earnings $ 19.6 $ 24.8 $ 27.0 $ 40.1 Capital expenditures: Advanced Plastic Processing Technologies $ 6.9 $ 4.8 $ 16.5 $ 7.6 Melt Delivery and Control Systems 4.8 1.9 9.3 7.2 Fluid Technologies 0.1 0.1 0.3 0.3 Corporate 0.4 0.3 0.7 1.0 Total capital expenditures $ 12.2 $ 7.1 $ 26.8 $ 16.1 Depreciation and amortization: Advanced Plastic Processing Technologies $ 5.1 $ 5.5 $ 10.4 $ 11.0 Melt Delivery and Control Systems 9.1 10.1 18.2 19.6 Fluid Technologies 1.7 2.3 3.4 4.6 Corporate 0.1 (0.1 ) 0.2 — Total depreciation and amortization $ 16.0 $ 17.8 $ 32.2 $ 35.2
Net Sales to External Customers, by Geographic Region	Three months ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in millions) Net sales to external customers: United States $ 143.0 $ 131.6 $ 272.9 $ 255.2 Rest of World 158.3 164.3 307.6 321.0 Total net sales to external customers $ 301.3 $ 295.9 $ 580.5 $ 576.2
Long-lived Assets, by Geographic Region	June 30, December 31, 2014 (in millions) Long-lived assets United States $ 73.5 $ 72.8 Rest of World 141.7 144.1 Long-lived assets $ 215.2 $ 216.9

Background and Basis of Prese31

Background and Basis of Presentation (Details) $ / shares in Units, $ in Millions	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 12, 2015
Noncontrolling Interest [Line Items]
Stock split conversion ratio		106.3
Proceeds from initial public offering, net of underwriting discounts and commissions, and estimated offering expenses | $	$ 265
IPO [Member]
Noncontrolling Interest [Line Items]
Shares sold, initial public offering (in shares) | shares	14,285,714
Shares sold, initial public offering, price per share (in dollars per share)	$ 20

Business Combinations - Assets

Business Combinations - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill	$ 540.6	$ 548.6
Series of Individually Immaterial Business Acquisitions [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Accounts receivable			$ 2.7
Total inventories			4.8
Prepaid and other current assets			4.3
Property and equipment			10.2
Intangible assets			13.7
Goodwill			32.2
Accounts payable			(2.4)
Advanced billings and deposits			(6.5)
Other current liabilities			(4.1)
Deferred income tax liabilities			(2.5)
Other noncurrent accrued liabilities			(2)
Consideration, net of cash acquired			$ 50.4

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)business
Business Acquisition [Line Items]
Number of acquisitions | business			5
Total consideration, net of cash acquired		$ 0	$ 53
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Total consideration, net of cash acquired	$ 50.4
Acquisition related costs	$ 0.2		$ 1.1

Goodwill and Other Intangible34

Goodwill and Other Intangible Assets - Goodwill, by Reportable Segment (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Goodwill [Roll Forward]
Balance	$ 548.6
Foreign currency translation adjustments	(8)
Balance	540.6
Corporate [Member]
Goodwill [Roll Forward]
Balance	0
Foreign currency translation adjustments	0
Balance	0
Advanced Plastic Processing Technologies [Member] | Segments [Member]
Goodwill [Roll Forward]
Balance	26.1
Foreign currency translation adjustments	0
Balance	26.1
Melt Delivery and Control Systems [Member] | Segments [Member]
Goodwill [Roll Forward]
Balance	475.6
Foreign currency translation adjustments	(8)
Balance	467.6
Fluid Technologies [Member] | Segments [Member]
Goodwill [Roll Forward]
Balance	46.9
Foreign currency translation adjustments	0
Balance	$ 46.9

Goodwill and Other Intangible35

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 392		$ 392		$ 408.3
Accumulated Amortization	127.8		127.8		113.8
Net Amount	264.2		264.2		294.5
Trademark impairment			2.2	$ 0
Indefinite-lived Intangible Assets [Line Items]
Gross Amount	537.7		537.7		556.6
Accumulated Amortization	127.8		127.8		113.8
Net Amount	409.9		409.9		442.8
Amortization of intangible assets	9.2	$ 11.1	18.6	$ 22
Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	1		1		1.9
Accumulated Amortization	0.9		0.9		1.8
Net Amount	0.1		0.1		0.1
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	0.9		0.9		1.8
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	43.6		43.6		48.1
Accumulated Amortization	13.2		13.2		12.4
Net Amount	30.4		30.4		35.7
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	13.2		13.2		12.4
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	121.2		121.2		127.1
Accumulated Amortization	24.1		24.1		19.9
Net Amount	97.1		97.1		107.2
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	24.1		24.1		19.9
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	226.2		226.2		231.2
Accumulated Amortization	89.6		89.6		79.7
Net Amount	136.6		136.6		151.5
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	89.6		89.6		79.7
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks, not subject to amortization	145.7		$ 145.7		$ 148.3
Other expense, net [Member]
Finite-Lived Intangible Assets [Line Items]
Trademark impairment	$ 2.2

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
U.S. statutory rate	35.00%

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt and capital lease obligations, including current portion	$ 955.1	$ 1,034.6
Less current portion	(8.2)	(13)
Long-term debt and capital lease obligations	946.9	1,021.6
Senior Notes [Member] | 8.375% senior secured notes due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt and capital lease obligations, including current portion	0	220
Senior Notes [Member] | 7.75% senior unsecured notes due 2021 [Member]
Debt Instrument [Line Items]
Long-term debt and capital lease obligations, including current portion	465	465
Line of Credit [Member] | Other Lines of Credit [Member]
Debt Instrument [Line Items]
Long-term debt and capital lease obligations, including current portion	7.8	9.2
Line of Credit [Member] | Secured Debt [Member] | Senior secured term loan facility due March 2020 [Member]
Debt Instrument [Line Items]
Long-term debt and capital lease obligations, including current portion	0	338.7
Line of Credit [Member] | Secured Debt [Member] | Senior secured term loan facility due September 2020 [Member]
Debt Instrument [Line Items]
Long-term debt and capital lease obligations, including current portion	481.3	0
Capital Lease Obligations and Other [Member]
Debt Instrument [Line Items]
Long-term debt and capital lease obligations, including current portion	$ 1	$ 1.7

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	Jun. 30, 2015	May. 15, 2015	May. 14, 2015	Mar. 31, 2014	Mar. 30, 2014	Apr. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Debt Instrument [Line Items]
Dividends paid to common stockholders		$ 145,000,000							$ 144,600,000	$ 0
Gain (loss) on debt extinguishment							$ (22,200,000)	$ (2,900,000)	(22,200,000)	(3,400,000)
Write-off of deferred financing costs and debt discount									8,400,000	$ 1,800,000
Deferred financing costs capitalized									5,200,000
Loss on debt extinguishment [Member]
Debt Instrument [Line Items]
Gain (loss) on debt extinguishment									(18,600,000)
Senior Notes [Member] | 8.375% senior secured notes due 2019 [Member]
Debt Instrument [Line Items]
Repayments of senior notes		$ 220,000,000
Interest rate		8.375%
Redemption price		106.281%
Premium paid on debt redemption									13,800,000
Redemption of senior notes						$ 55,000,000
Senior Notes [Member] | 8.375% senior secured notes due 2019 [Member] | Loss on debt extinguishment [Member]
Debt Instrument [Line Items]
Gain (loss) on debt extinguishment						$ (2,900,000)
Senior Secured Notes and Line of Credit [Member] | 8.375% senior secured notes due 2019 and senior secured term loan facility due March 2020 [Member] | Loss on debt extinguishment [Member]
Debt Instrument [Line Items]
Write-off of deferred financing costs and debt discount									4,800,000
Secured Debt [Member] | Line of Credit [Member] | Senior secured term loan facility due September 2020 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 730,000,000
Repayments of credit facility	$ 248,000,000
Secured Debt [Member] | Line of Credit [Member] | Senior secured term loan facility due September 2020 [Member] | Loss on debt extinguishment [Member]
Debt Instrument [Line Items]
Write-off of deferred financing costs and debt discount									$ 3,600,000
Secured Debt [Member] | Line of Credit [Member] | Senior secured term loan facility due March 2020 [Member]
Debt Instrument [Line Items]
Repayments of credit facility			$ 339,100,000
Borrowing - term loan				$ 100,000,000
Discount - term loan				$ 500,000
Margin on interest rate				3.00%	3.25%

Employee Benefit Plans (Details

Employee Benefit Plans (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)plan	Jun. 30, 2014USD ($)
Cost of sales and selling, general and administrative expenses [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension expense | $	$ 0.3	$ 0.3	$ 0.6	$ 0.6
Foreign Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of noncontributory defined benefit pension plans			3
Foreign Pension Plan [Member] | United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of noncontributory defined benefit pension plans			1
Foreign Pension Plan [Member] | Germany [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of noncontributory defined benefit pension plans			2

Net Loss Per Share and Shareh40

Net Loss Per Share and Shareholders' Equity - Reconciliation of Numerator and Denominator of the Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Net loss applicable to common shareholders	$ (27.2)	$ (2.1)	$ (43.1)	$ (10.3)
Denominator:
Denominator for basic EPS–weighted-average common shares (in shares)	53,237,740	52,164,034	52,765,856	52,133,076
Dilutive effect of stock-based compensation arrangements (in shares)	0	0	0	0
Denominator for diluted EPS–adjusted weighted-average common shares (in shares)	53,237,740	52,164,034	52,765,856	52,133,076
Basic EPS (in dollars per share)	$ (0.51)	$ (0.04)	$ (0.82)	$ (0.20)
Diluted EPS (in dollars per share)	$ (0.51)	$ (0.04)	$ (0.82)	$ (0.20)

Net Loss Per Share and Shareh41

Net Loss Per Share and Shareholders' Equity - Additional Information (Details) - USD ($) $ in Millions	Feb. 17, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Acquisition of noncontrolling shares of Milacron Plastics Machinery (Jiangyin) Co., Ltd.				$ 0	$ 1.9
Subsidiaries [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Acquisition of noncontrolling shares of Milacron Plastics Machinery (Jiangyin) Co., Ltd.	$ 1.9
Paid-in Capital [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Reduction in paid-in capital for the excess par value of the purchase of the noncontrolling shares					$ 1.6
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the diluted EPS calculation (in shares)		266,313		266,313
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the diluted EPS calculation (in shares)		16,125		16,125
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the diluted EPS calculation (in shares)		6,352,762	5,945,572	6,352,762	5,945,572

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 30, 2015	May. 15, 2015	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	May. 14, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividends paid to common stockholders		$ 145		$ 144.6	$ 0
Dividends paid to common stockholders per share (in dollars per share)		$ 2.77
Exercise price of all outstanding options (in dollars per share)		$ 6.64				$ 9.41
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 3.7
2015 Equity Incentive Plan [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, granted (in shares)	1,260,567
Award vesting period	4 years
2015 Equity Incentive Plan [Member] | Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, granted (in shares)	136,441
Award vesting period	4 years
2015 Equity Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, granted (in shares)	266,313
Award vesting period	3 years
2015 Equity Incentive Plan [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, granted (in shares)	16,125
Period from public disclosure in 2016 of financial results for fiscal year 2015 to vesting date	2 days
2012 Equity Incentive Plan [Member] | Performance-based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 4.6

Derivative Financial Instrume43

Derivative Financial Instruments - Effect of Designated Cash Flow Hedges on the Financial Statements (Details) - Foreign Currency Forward [Member] - Cash Flow Hedging [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	$ 0.7	$ 0.5	$ 2	$ 1.4
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ (0.7)	$ (0.6)	$ (2.1)	$ (1.8)

Derivative Financial Instrume44

Derivative Financial Instruments - Derivative Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring [Member] - Foreign Currency Forward [Member] - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts (liability position)	$ 1.7	$ 3.1
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts (liability position)	0	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts (liability position)	1.7	3.1
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts (liability position)	$ 0	$ 0

Derivative Financial Instrume45

Derivative Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Derivative [Line Items]
Deferred gains (losses) on derivative instruments expected to be reclassified into earnings during the next 12 months	$ (1.7)		$ (1.7)
Foreign Currency Forward [Member]
Derivative [Line Items]
Notional amounts	19.4		$ 19.4		$ 29.3
Remaining maturity of outstanding instruments			11 months
Foreign Currency Forward [Member] | Not Designated as Hedging Instrument [Member] | Foreign Currency Gain (Loss) [Member]
Derivative [Line Items]
Gain (loss) related to changes in fair value of derivative instruments		$ 0.2	$ 0.3	$ 0.1
Foreign Currency Forward [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Gain (loss) on settlement of derivative instruments	(0.7)	$ (0.6)	(2.1)	$ (1.8)
Foreign Currency Forward [Member] | Cash Flow Hedging [Member] | Other current liabilities [Member]
Derivative [Line Items]
Foreign currency forward contracts - liability position	$ 1.7		$ 1.7		$ 3.1

Accumulated Other Comprehensi46

Accumulated Other Comprehensive Income (Loss) - Changes in Each Component of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			$ 385.4
Total other comprehensive income (loss), net of tax	$ 3	$ 3.7	(18.7)	$ (10.5)
Balance	450.9		450.9
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(75.8)	(13.8)	(54.1)	0.4
Other comprehensive income (loss) before reclassifications	2.3	3.2	(20.7)	(11.9)
Amounts reclassified from accumulated other comprehensive income (loss)	0.7	0.5	2	1.4
Total other comprehensive income (loss), net of tax	3	3.7	(18.7)	(10.5)
Balance	(72.8)	(10.1)	(72.8)	(10.1)
Foreign Currency Translation [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(68.7)	(11.1)	(45.4)	3.7
Other comprehensive income (loss) before reclassifications	2.7	2.3	(20.6)	(12.5)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Total other comprehensive income (loss), net of tax	2.7	2.3	(20.6)	(12.5)
Balance	(66)	(8.8)	(66)	(8.8)
Unrecognized Post- Retirement Plan Losses [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(5)	(1.7)	(5.6)	(1.5)
Other comprehensive income (loss) before reclassifications	(0.1)	(0.1)	0.5	(0.3)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Total other comprehensive income (loss), net of tax	(0.1)	(0.1)	0.5	(0.3)
Balance	(5.1)	(1.8)	(5.1)	(1.8)
Derivative Financial Instruments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(2.1)	(1)	(3.1)	(1.8)
Other comprehensive income (loss) before reclassifications	(0.3)	1	(0.6)	0.9
Amounts reclassified from accumulated other comprehensive income (loss)	0.7	0.5	2	1.4
Total other comprehensive income (loss), net of tax	0.4	1.5	1.4	2.3
Balance	$ (1.7)	$ 0.5	$ (1.7)	$ 0.5

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative financial instruments:
Tax benefit	$ (6.2)	$ (5.3)	$ (11.1)	$ (9.5)
Total reclassifications from accumulated other comprehensive income (loss)	(0.7)	(0.5)	(2)	(1.4)
Derivative Financial Instruments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Derivative financial instruments:
Loss on derivative financial instruments	(0.7)	(0.6)	(2.1)	(1.8)
Tax benefit	$ 0	$ 0.1	$ 0.1	$ 0.4

Warranty Reserves (Details)

Warranty Reserves (Details) - Other current liabilities [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance	$ 8.4	$ 8.8	$ 8.6	$ 8.5
Warranty expense	0.5	0.7	1.4	2.4
Warranty assumed as a result of acquisitions	0	0.1	0	0.5
Warranty claims paid	(0.9)	(1)	(1.6)	(2.8)
Foreign currency translation adjustments	0.3	0	(0.1)	0
Balance	$ 8.3	$ 8.6	$ 8.3	$ 8.6

Restructuring Reserves (Details

Restructuring Reserves (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
Advanced Plastic Processing Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Severance expense		$ 1.2
Melt Delivery and Control Systems [Member]
Restructuring Cost and Reserve [Line Items]
Severance expense		2.7
Fluid Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Severance expense		0.2
Other current liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Liability, severance-related actions	$ 3.2	3.2	$ 2.6
Other expense, net [Member]
Restructuring Cost and Reserve [Line Items]
Severance expense	$ 1.4	$ 4.1

Related-Party Transaction (Deta

Related-Party Transaction (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Selling, general and administrative expenses	$ 72.1	$ 69.9	$ 138.3	$ 135.3
Majority Shareholder [Member] | Advisory Services and Monitoring Agreement [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expenses	$ 0.2	$ 0.2	$ 0.3	$ 0.3

Business Segment Information (D

Business Segment Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)segment	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			3
Total assets	$ 1,769.9		$ 1,769.9		$ 1,790.7
Total long-lived assets	215.2		215.2		216.9
Total net sales to external customers	301.3	$ 295.9	580.5	$ 576.2
Operating earnings	19.6	24.8	27	40.1
Total capital expenditures	12.2	7.1	26.8	16.1
Total depreciation and amortization	16	17.8	32.2	35.2
Corporate [Member]
Segment Reporting Information [Line Items]
Total assets	53.5		53.5		67.5
Total long-lived assets	4.3		4.3		3.9
Operating earnings	(18.3)	(7.7)	(26.9)	(16.2)
Total capital expenditures	0.4	0.3	0.7	1
Total depreciation and amortization	0.1	(0.1)	0.2	0
Advanced Plastic Processing Technologies [Member] | Segments [Member]
Segment Reporting Information [Line Items]
Total assets	476		476		460.9
Total long-lived assets	103.1		103.1		98.3
Total net sales to external customers	169.9	158.3	321.3	310.3
Operating earnings	13.2	7.2	24	18
Total capital expenditures	6.9	4.8	16.5	7.6
Total depreciation and amortization	5.1	5.5	10.4	11
Melt Delivery and Control Systems [Member] | Segments [Member]
Segment Reporting Information [Line Items]
Total assets	1,094.4		1,094.4		1,112.1
Total long-lived assets	92.2		92.2		97.6
Total net sales to external customers	101.8	105.2	201.2	201.8
Operating earnings	20.9	22.6	23.3	33.2
Total capital expenditures	4.8	1.9	9.3	7.2
Total depreciation and amortization	9.1	10.1	18.2	19.6
Fluid Technologies [Member] | Segments [Member]
Segment Reporting Information [Line Items]
Total assets	146		146		150.2
Total long-lived assets	15.6		15.6		$ 17.1
Total net sales to external customers	29.6	32.4	58	64.1
Operating earnings	3.8	2.7	6.6	5.1
Total capital expenditures	0.1	0.1	0.3	0.3
Total depreciation and amortization	$ 1.7	$ 2.3	$ 3.4	$ 4.6

Business Segment Information -

Business Segment Information - Net Sales to External Customers and Long-lived Assets, by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales to external customers	$ 301.3	$ 295.9	$ 580.5	$ 576.2
Total long-lived assets	215.2		215.2		$ 216.9
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales to external customers	143	131.6	272.9	255.2
Total long-lived assets	73.5		73.5		72.8
Rest of World [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales to external customers	158.3	$ 164.3	307.6	$ 321
Total long-lived assets	$ 141.7		$ 141.7		$ 144.1

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 29, 2015	Jul. 31, 2015	Jun. 30, 2015	Jun. 30, 2014
Subsequent Event [Line Items]
Proceeds from the issuance of common stock			$ 285.7	$ 1
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock-based compensation expense, accelerated vesting		$ 11.3
Shares sold to underwriters (in shares)	415,600
Shares sold to underwriters, price per share (in dollars per share)	$ 20
Proceeds from the issuance of common stock	$ 7.7