Milacron (MZIAQ) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2017shares
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	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	69,416,318

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 93.4	$ 130.2
Accounts receivable, net	215.1	182.3
Inventories, net:
Raw materials	101.7	81.3
Work-in-process	64.3	52.6
Finished products	132.2	115.6
Total inventories, net	298.2	249.5
Prepaid and other current assets	52.1	46.3
Total current assets	658.8	608.3
Property and equipment, net	269.7	243.7
Goodwill	532.9	507.9
Intangible assets, net	339.5	341.8
Other noncurrent assets	21.6	20.3
Total assets	1,822.5	1,722
Current liabilities:
Short-term borrowings	7.3	7
Long-term debt and capital lease obligations due within one year	9.4	0.3
Accounts payable	96.3	92.5
Advanced billings and deposits	60.2	52.7
Accrued salaries, wages and other compensation	30.3	26.7
Accrued interest	0.5	13.9
Other current liabilities	71.1	59.7
Total current liabilities	275.1	252.8
Long-term debt and capital lease obligations	919.1	934.1
Deferred income tax liabilities	72.4	64.4
Accrued pension liabilities	31.3	27.8
Other noncurrent accrued liabilities	22.4	8
Total liabilities	1,320.3	1,287.1
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; 69,416,318 and 68,473,561	0.7	0.7
Capital in excess of par value	672.1	661
Retained deficit	(73.8)	(68.9)
Accumulated other comprehensive loss	(96.8)	(157.9)
Total shareholders’ equity	502.2	434.9
Total liabilities and shareholders’ equity	$ 1,822.5	$ 1,722

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
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)	69,416,318	68,473,561
Common stock, shares outstanding (in shares)	69,416,318	68,473,561

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 314.7	$ 292.2	$ 909.3	$ 877.6
Cost of sales	216	192.5	613	574.5
Manufacturing margins	98.7	99.7	296.3	303.1
Operating expenses:
Selling, general and administrative expenses	61.5	60.3	190.6	187
Amortization expense	7.3	7.8	21.4	23.5
Gain on currency translation	(4.1)	(0.3)	(8.2)	(8.3)
Other expense, net	4.4	2.8	14.6	4.1
Total operating expenses	69.1	70.6	218.4	206.3
Operating earnings	29.6	29.1	77.9	96.8
Interest expense, net	11.1	15.2	33.9	45.6
Loss on debt extinguishment	0	0	25.2	0
Earnings before income taxes	18.5	13.9	18.8	51.2
Income tax expense	6.2	7.2	21	21.8
Net earnings (loss)	$ 12.3	$ 6.7	$ (2.2)	$ 29.4
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.18	$ 0.10	$ (0.03)	$ 0.44
Diluted (in dollars per share)	$ 0.17	$ 0.10	$ (0.03)	$ 0.42

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 12.3	$ 6.7	$ (2.2)	$ 29.4
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	23.4	1.7	63.1	(3.3)
Unrecognized post-retirement plan (loss) gain	(0.1)	0	(0.4)	0.1
Unrealized (loss) gain on hedging activities	0	(0.4)	(1.6)	0.6
Total other comprehensive income (loss), net of tax	23.3	1.3	61.1	(2.6)
Comprehensive loss attributable to Milacron Holdings Corp.	$ 35.6	$ 8	$ 58.9	$ 26.8

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) CAD in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Operating activities
Net (loss) earnings	$ (2.2)	$ 29.4
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Depreciation and amortization	43.4	44.8
Unrealized gain on currency translation of intercompany advances	(9.4)	(7.3)
Amortization of deferred financing costs	2.3	2.8
Loss on debt extinguishment	25.2	0
Asset impairments	0	1.4
Non-cash stock-based compensation expense	6.5	4
Deferred income taxes	2.3	(0.4)
Changes in assets and liabilities:
Accounts receivable	(21.8)	6.3
Inventories	(35.8)	(12)
Prepaid and other current assets	(8.3)	(8.5)
Accounts payable	1.5	0.2
Advanced billings and deposits	5.5	8.6
Other current liabilities	(3.9)	(12.7)
Other noncurrent assets	0.5	3.4
Other noncurrent accrued liabilities	1.6	0.8
Net cash provided by operating activities	7.4	60.8
Investing activities
Purchases of property and equipment	(34.3)	(31)
Proceeds from disposals of property and equipment	3.7	0.8
Net cash used in investing activities	(30.6)	(30.2)
Financing activities
Proceeds from issuance of long-term debt (original maturities longer than 90 days)	1,016.3	0
Payments on long-term debt and capital lease obligations (original maturities longer than 90 days)	(1,023)	(0.7)
Net (decrease) increase in short-term borrowings (original maturities of 90 days or less)	(0.1)	0.1
Premium paid on debt redemption	(18)	0
Proceeds from exercise of stock options	3.8	4.2
Sale Leaseback Transaction, Net Proceeds, Financing Activities	10.9	0
Debt issuance costs	(9.6)	0
Net cash (used in) provided by financing activities	(19.7)	3.6
Effect of exchange rate changes on cash	6.1	1
(Decrease) increase in cash and cash equivalents	(36.8)	35.2
Cash and cash equivalents at beginning of period	130.2	67.5
Cash and cash equivalents at end of period	$ 93.4	$ 102.7

Background and Basis of Present

Background and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
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, 2016 included in the Company’s Annual Report on Form 10-K filed with the SEC on February 28, 2017. Recently Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09"). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 was effective for the Company beginning January 1, 2017 and the impact of the Company's adoption in the nine months ended September 30, 2017 resulted in the following: • The Company recorded $1.1 million of previously unrecognized deferred tax assets that arose from tax deductions for share-based compensation in excess of compensation expense recognized for financial reporting during years when net operating losses were created. A corresponding increase in the valuation allowance was also recorded and, as a result, there was no impact to the Company's Condensed Consolidated Statements of Operations. • The Company elected to change its policy on accounting for forfeitures and now will account for forfeitures as they occur. This policy election resulted in a cumulative-effect adjustment to retained earnings of $0.8 million as of January 1, 2017. • The Company will no longer reclassify any excess tax benefits from operating activities to financing activities in the statement of cash flows. The Company elected to apply this change in presentation prospectively and thus prior periods have not been adjusted. • The Company excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of diluted earnings per share for the three and nine month periods ended September 30, 2017. This did not have an impact on our computation of diluted weighted-average common shares outstanding. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) ("ASU 2016-15"). ASU 2016-15 clarifies the classification of certain cash receipts and cash payments within the statement of cash flows to reduce diversity in practice. ASU 2016-15 is effective for the Company beginning January 1, 2018 and early adoption is permitted. The Company elected to early adopt ASU 2016-15 as of January 1, 2017 which is required to be adopted retrospectively. As a result, the Company has classified debt extinguishment costs paid during the nine months ended September 30, 2017 as a financing activity within the Company's Condensed Consolidated Statements of Cash Flows and there was no impact on any prior periods presented. In October 2016, the FASB issued ASU No. 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory ("ASU 2016-16"). Prior to the adoption of ASU 2016-16, the tax effects of intra-entity transfers are deferred until the transferred asset is sold to a third party or otherwise recovered through use. ASU 2016-16 eliminates this deferral for all intra-entity sales of assets other than inventory. ASU 2016-16 is effective for the Company beginning January 1, 2018 with early adoption permitted and the Company elected to early adopt ASU 2016-16 as of January 1, 2017. As a result, the Company recorded a cumulative-effect adjustment to retained earnings of approximately $1.9 million with a corresponding reduction in prepaid tax assets as of January 1, 2017. Recently Issued Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") . ASU 2014-09, as further amended, 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. ASU 2014-09 is effective for the Company beginning January 1, 2018. The guidance permits two methods of adoption - retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). The new standard also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows from customer contracts. The Company continues to progress through the evaluation of the impact of the new standard and at this time the Company has not identified any impacts to its consolidated financial statements that the Company believes will be material in the year of adoption, with the exception of the new and expanded disclosures requirements. Based on the current estimated impact to the Company's Condensed Consolidated Financial Statements, the Company plans to adopt the new guidance under the modified retrospective approach. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) ("ASU 2016-02"). ASU 2016-02 establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be either classified as finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 also requires significant additional disclosures about the amount, timing and uncertainty of cash flows from leases. ASU 2016-02 is effective for the Company beginning January 1, 2019 with early adoption allowed and practical expedients to measure the effect of adoption also being allowed. The Company does not plan to early adopt ASU 2016-02 and is currently evaluating the effect that the adoption will have on the Company's Condensed Consolidated Financial Statements.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2017
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 nine months ended September 30, 2017 : Advanced Plastic Processing Technologies Melt Delivery and Control Systems Fluid Technologies Corporate Total (in millions) Balance at December 31, 2016 $ 37.0 $ 424.0 $ 46.9 $ — $ 507.9 Foreign currency translation adjustments — 25.0 — — 25.0 Balance at September 30, 2017 $ 37.0 $ 449.0 $ 46.9 $ — $ 532.9 The following table summarizes the Company’s other intangible assets at September 30, 2017 : Gross Amount Accumulated Amortization Net (in millions) Intangible assets subject to amortization: Trademarks $ 43.2 $ 21.5 $ 21.7 Technology 121.2 46.2 75.0 Customer relationships 231.4 129.7 101.7 Total intangible assets subject to amortization 395.8 197.4 198.4 Trademarks, not subject to amortization 141.1 — 141.1 Total $ 536.9 $ 197.4 $ 339.5 The following table summarizes the Company’s other intangible assets at December 31, 2016 : Gross Amount Accumulated Amortization Net Amount (in millions) Intangible assets subject to amortization: Trademarks $ 41.5 $ 18.2 $ 23.3 Technology 112.6 36.3 76.3 Customer relationships 222.7 114.9 107.8 Total intangible assets subject to amortization 376.8 169.4 207.4 Trademarks, not subject to amortization 134.4 — 134.4 Total $ 511.2 $ 169.4 $ 341.8 Consolidated amortization expense related to intangible assets subject to amortization was $7.3 million and $7.8 million for the three months ended September 30, 2017 and 2016 , respectively. Consolidated amortization expense related to intangible assets subject to amortization was $21.4 million and $23.5 million for the nine months ended September 30, 2017 and 2016 , respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
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 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 July 2017, the Company received approval for a tax-neutral amalgamation of two of its subsidiaries in India, effective March 1, 2017. The Company’s position is that the amalgamation resulted in approximately $21.7 million of tax basis in goodwill which is amortizable for Indian statutory purposes. The Company has recorded an uncertain tax position of $7.5 million for the Indian income tax effects of this position as it does not meet the more-likely-than-not recognition threshold under U.S. GAAP. As of September 30, 2017 , the Company has amortized $3.2 million of the tax basis in goodwill. The statute of limitations for tax positions in India is seven years. 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.

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	Debt Debt for the Company consists of the following: September 30, 2017 December 31, 2016 Principal Unamortized Discount and Debt Issuance Costs Net Principal Unamortized Discount and Debt Issuance Costs Net (in millions) Senior secured term loan facility due September 2023 $ 939.9 $ 11.6 $ 928.3 $ — $ — $ — 7.75% senior unsecured notes due 2021 — — — 464.4 7.3 457.1 Senior secured term loan facility due September 2020 — — — 482.0 5.1 476.9 Borrowings under other lines of credit 7.3 — 7.3 7.0 — 7.0 Capital lease obligations and other 0.2 — 0.2 0.4 — 0.4 947.4 11.6 935.8 953.8 12.4 941.4 Less current portion (16.8 ) (0.1 ) (16.7 ) (7.3 ) — (7.3 ) $ 930.6 $ 11.5 $ 919.1 $ 946.5 $ 12.4 $ 934.1 On February 15, 2017, Milacron LLC, a wholly-owned subsidiary of the Company, entered into a new $947.0 million senior secured term loan facility with a maturity date of September 28, 2023 (the "2017 Term Loan Facility") pursuant to an amendment of the Company's $730.0 million senior secured term loan facility due September 2020 (the "New Term Loan Facility"). The net proceeds from the 2017 Term Loan Facility, together with cash on-hand, were used to redeem in full $464.4 million aggregate principal amount outstanding of the Company's 7.75% senior unsecured notes due 2021 (the "Senior Unsecured Notes"), repay in full $482.0 million aggregate principal amount outstanding under the Company's New Term Loan Facility and pay fees and expenses associated with these transactions. The 2017 Term Loan Facility was priced at 99.625% of the principal amount and bears interest at a rate per annum equal to an applicable margin or applicable rate plus, at our option, either (a) a base rate determined by the reference to the highest of (1) the prime commercial lending rate publicly announced by the administrative agent of the 2017 Term Loan Facility as the “prime rate” as in effect on such day, (2) the federal funds effective rate plus 0.50% , and (3) the LIBOR rate determined by reference to the cost of funds for Eurodollar deposits for an interest period of one month, plus 1.00% or (b) a LIBOR rate (which shall be no less than 0.00% ) determined by reference to the costs of funds for Eurodollar deposits for the specified interest period, as adjusted for certain statutory reserve requirements. The applicable margins for borrowings are (i) 2.00% with respect to base rate borrowings and 3.00% with respect to LIBOR borrowings, subject to compliance with a total net leverage ratio of greater than 3.50 to 1.00 and (ii) 1.75% with respect to base rate borrowings and 2.75% with respect to LIBOR borrowings, subject to compliance with a total net leverage ratio not to exceed 3.50 to 1.00 . In connection with these transactions, the Company recognized a $25.2 million loss on the early extinguishment of debt. The loss on debt extinguishment includes an $18.0 million premium paid to redeem the Senior Unsecured Notes and the write-off of $7.2 million of deferred financing costs and debt discount associated with the Senior Unsecured Notes and the New Term Loan Facility. The Company also capitalized an additional $4.6 million of deferred financing costs related to the issuance of the 2017 Term Loan Facility which are being amortized over the term of the loan using the effective interest rate method.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [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 $0.4 million and $0.2 million for the three months ended September 30, 2017 and 2016 , respectively. Net periodic pension expense was $1.1 million and $0.8 million for the nine months ended September 30, 2017 and 2016 , respectively. Net periodic pension expense 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	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Loss Per Share and Shareholders' Equity	Net Earnings (Loss) Per Share The following is a reconciliation of the numerator and denominator of the basic and diluted net earnings (loss) per share ("EPS") computations: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions, except common share and per common share amounts) Numerator: Net earnings (loss) $ 12.3 $ 6.7 $ (2.2 ) $ 29.4 Denominator: Denominator for basic EPS–weighted-average common shares 68,672,996 67,567,671 68,479,192 67,389,370 Dilutive effect of stock-based compensation arrangements 2,329,239 2,661,031 — 2,630,117 Denominator for diluted EPS–adjusted weighted-average common shares 71,002,235 70,228,702 68,479,192 70,019,487 Basic EPS $ 0.18 $ 0.10 $ (0.03 ) $ 0.44 Diluted EPS $ 0.17 $ 0.10 $ (0.03 ) $ 0.42 The diluted EPS calculation for the nine months ended September 30, 2017 excludes the effect of 701,849 shares of restricted stock, 234,411 restricted stock units, 87,202 performance stock units and 4,903,238 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.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation On March 1, 2017, the Company granted 474,502 stock options, 87,202 performance stock units, 310,945 restricted stock awards and 182,885 restricted stock units under the 2015 Equity Incentive Plan. The stock options, valued using a closed form option pricing model, vest in equal annual increments over four years . The performance stock units contain a three -year performance period with a performance target based on return on invested capital and possible payouts ranging from 50% to 200% of the target awards. The restricted stock awards and restricted stock units vest in equal annual increments over three years .

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2017
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 is also exposed to certain risks related to fluctuations in interest rates and uses interest rate swaps to manage risk from these market fluctuations. The counterparties to these financial instruments are financial institutions with strong credit ratings. The Company maintains control over the size of positions entered into with any one counterparty and monitors the credit ratings of these institutions. Foreign Currency Forward Contracts The Company currently hedges its risk relative to fluctuations in the Canadian dollar, Euro 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 $12.0 million at September 30, 2017 and $7.0 million at December 31, 2016 . As of September 30, 2017 , all of the Company’s outstanding instruments mature within the next three months . The Company’s derivative instruments discussed above are designated as cash flow hedges and the fair value of these derivative instruments was $0.5 million at September 30, 2017 and are included in prepaid and other current assets in the Company's Condensed Consolidated Balance Sheets and $0.6 million at December 31, 2016 and are included in other current liabilities in the Company's Condensed Consolidated Balance Sheets. The Company also enters into derivative instruments (forwards) to economically hedge the impact of fluctuations in the Indian rupee. These gains and losses are recognized immediately within the Company's Condensed Consolidated Statements of Operations and are classified within gain on currency translation. The fair value of these derivative instruments not designated as hedges at September 30, 2017 was de minimis. Interest Rate Swap Agreements The Company is exposed to changes in interest rates on its variable rate debt. In order to manage this risk, on February 16, 2017, Milacron LLC, a wholly-owned subsidiary of the Company, entered into two interest rate swap transactions effective for a four-year period beginning January 31, 2018 with a total notional amount of $400.0 million . The interest rate swaps are intended to manage the Company's interest rate risk by fixing the interest rate on a portion of the Company's debt outstanding under the 2017 Term Loan Facility that was previously subject to a floating interest rate equal to 1-month LIBOR plus a credit spread. The swaps provide for the Company to pay a fixed rate of 2.062% per annum on such portion of the outstanding debt in exchange for receiving a variable interest rate based on 1-month LIBOR. The effect is a synthetically fixed rate of 2.062% plus the loan spread for the term and debt hedged. The Company designated these interest rate swaps as cash flow hedges of floating rate borrowings and expects the hedge to be highly effective in offsetting fluctuations in the designated interest payments resulting from changes in the benchmark interest rate. The gains and losses on the designated interest rate swaps will offset losses and gains on the transactions being hedged. The fair value of the interest rate swaps is calculated by taking into consideration current interest rates and the current creditworthiness of the counterparties or the Company, as applicable. The effective portion of changes in the fair value of the interest rate swaps is reflected as a component of accumulated other comprehensive income and recognized as interest expense, net as payments are paid or accrued. The remaining gain or loss in excess of the cumulative change in the present value of the future cash flows of the hedge item, if any (i.e. the ineffective portion), is recognized as interest expense, net during the current period. During the three months and nine months ended September 30, 2017 , hedge ineffectiveness was de minimis. The following table provides the effect of the Company’s foreign currency forward contracts and interest rate swaps designated as cash flow hedges on the Company’s Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2017 and 2016 : 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 September 30, 2017 Foreign exchange contracts $ (0.1 ) $ (0.4 ) Interest rate swaps $ (0.2 ) $ — Three Months Ended September 30, 2016 Foreign exchange contracts $ — $ 0.6 Nine Months Ended September 30, 2017 Foreign exchange contracts $ 0.6 $ (0.8 ) Interest rate swaps $ (2.7 ) $ — Nine Months Ended September 30, 2016 Foreign exchange contracts $ 1.4 $ 0.5 All gains (losses) that are reclassified from accumulated other comprehensive income (loss) into income (effective portion) are classified in gain 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 foreign exchange contracts was immaterial for all periods presented. During the three months ended September 30, 2017 and 2016, the Company recorded a net loss of $0.4 million and a net gain of $0.6 million , respectively, related to the settlement of forward contracts which were designated as cash flow hedges. During the nine months ended September 30, 2017 and 2016 , the Company recorded a net loss of $0.8 million and net gain of $0.5 million , respectively, related to the settlement of forward contracts which were designated as cash flow hedges. Fair Value Measurements 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 derivative 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 September 30, 2017 and December 31, 2016 were as follows: Balance Sheet Location Total Level 1 Level 2 Level 3 (in millions) September 30, 2017 Foreign currency forward contracts (asset position) Prepaid and other current assets $ 0.5 $ — $ 0.5 $ — Interest rate swap agreements (liability position) Other current liabilities $ 1.4 $ — $ 1.4 $ — Interest rate swap agreements (liability position) Other noncurrent accrued liabilities $ 1.3 $ — $ 1.3 $ — December 31, 2016 Foreign currency forward contracts (liability position) Other current liabilities $ 0.6 $ — $ 0.6 $ —

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2017
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 June 30, 2016 $ (109.5 ) $ (4.5 ) $ 1.0 $ (113.0 ) Other comprehensive income (loss) before reclassifications 1.7 — 0.2 1.9 Amounts reclassified from accumulated other comprehensive income (loss) — — (0.6 ) (0.6 ) Other comprehensive income (loss) 1.7 — (0.4 ) 1.3 Balance at September 30, 2016 $ (107.8 ) $ (4.5 ) $ 0.6 $ (111.7 ) Balance at June 30, 2017 $ (110.3 ) $ (7.6 ) $ (2.2 ) $ (120.1 ) Other comprehensive income (loss) before reclassifications 23.4 (0.2 ) (0.3 ) 22.9 Amounts reclassified from accumulated other comprehensive income (loss) — 0.1 0.3 0.4 Other comprehensive income (loss) 23.4 (0.1 ) — 23.3 Balance at September 30, 2017 $ (86.9 ) $ (7.7 ) $ (2.2 ) $ (96.8 ) Balance at December 31, 2015 $ (104.5 ) $ (4.6 ) $ — $ (109.1 ) Other comprehensive (loss) income before reclassifications (3.3 ) — 1.1 (2.2 ) Amounts reclassified from accumulated other comprehensive income (loss) — 0.1 (0.5 ) (0.4 ) Other comprehensive (loss) income (3.3 ) 0.1 0.6 (2.6 ) Balance at September 30, 2016 $ (107.8 ) $ (4.5 ) $ 0.6 $ (111.7 ) Balance at December 31, 2016 $ (150.0 ) $ (7.3 ) $ (0.6 ) $ (157.9 ) Other comprehensive income (loss) before reclassifications 63.1 (0.8 ) (2.3 ) 60.0 Amounts reclassified from accumulated other comprehensive income (loss) — 0.4 0.7 1.1 Other comprehensive income (loss) 63.1 (0.4 ) (1.6 ) 61.1 Balance at September 30, 2017 $ (86.9 ) $ (7.7 ) $ (2.2 ) $ (96.8 ) The following table summarizes the reclassifications out of accumulated other comprehensive income (loss) during the three and nine months ended September 30, 2017 and 2016 : Classification Three Months Ended September 30, of Expense 2017 2016 (in millions) Unrealized pension and post-retirement obligations: Adjustment of pension and post-retirement obligations (a) $ (0.2 ) $ — Tax benefit (c) 0.1 — Adjustment of pension and post-retirement obligations, net of tax (0.1 ) — Derivative financial instruments: (Loss) gain on derivative financial instruments (b) (0.4 ) 0.6 Tax benefit (c) 0.1 — (Loss) gain on derivative financial instruments, net of tax (0.3 ) 0.6 Total reclassifications from accumulated other comprehensive (loss) income $ (0.4 ) $ 0.6 Classification Nine Months Ended September 30, of Expense 2017 2016 (in millions) Unrealized pension and post-retirement obligations: Adjustment of pension and post-retirement obligations (a) $ (0.5 ) $ (0.1 ) Tax benefit (c) 0.1 — Adjustment of pension and post-retirement obligations, net of tax (0.4 ) (0.1 ) Derivative financial instruments: (Loss) gain on derivative financial instruments (b) (0.8 ) 0.5 Tax benefit (c) 0.1 — (Loss) gain on derivative financial instruments, net of tax (0.7 ) 0.5 Total reclassifications from accumulated other comprehensive (loss) income $ (1.1 ) $ 0.4 (a) Amount is included in the calculation of pension cost within cost of sales and selling, general and administrative expense in the Company's Condensed Consolidated Statements of Operations. (b) Amount is included in cost of sales and gain on currency translation in the Company's Condensed Consolidated Statements of Operations. (c) These amounts are included in income tax expense in the Company's Condensed Consolidated Statements of Operations.

Warranty Reserves

Warranty Reserves	9 Months Ended
	Sep. 30, 2017
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 table summarizes changes in the Company’s warranty reserves for the periods indicated. Accrued warranty reserves are included in other current liabilities in the Company's Condensed Consolidated Balance Sheets: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions) Balance at beginning of period $ 8.8 $ 8.4 $ 8.7 $ 8.3 Warranty expense 4.9 2.7 13.0 8.9 Warranty claims paid (4.2 ) (2.5 ) (12.6 ) (8.7 ) Foreign currency translation adjustments 0.2 0.1 0.6 0.2 Balance at end of period $ 9.7 $ 8.7 $ 9.7 $ 8.7

Restructuring Reserves

Restructuring Reserves	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
Restructuring Reserves	Restructuring Reserves 2017 Actions The Company recorded severance expense of $2.7 million during the nine months ended September 30, 2017 related to the elimination of certain positions with the Company's Advanced Plastic Processing Technologies and Corporate segments. 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 the fourth quarter of 2018. The total remaining liability under these severance-related actions was $1.2 million as of September 30, 2017 , and is included in other current liabilities in the Company's Condensed Consolidated Balance Sheets. During the nine months ended September 30, 2017 , the Company closed the sale of the Mechelen, Belgium facility which had been classified as held-for-sale. Proceeds from the sale were approximately $3.0 million . The Mechelen, Belgium facility was reported within the Melt Delivery and Control Systems segment. 2016 Actions On September 30, 2016, the Company's wholly-owned subsidiary Ferromatik Milacron GmbH entered into an agreement with its local works council setting forth a restructuring plan related to its manufacturing facility in Malterdingen, Germany whereby certain operational functions will be shifted to the Company's operations in the Czech Republic. During the three and nine months ended September 30, 2017 , the Company recorded severance expense of $2.8 million and $8.1 million , respectively, related to this restructuring plan which is included within other expense, net in the Company's Condensed Consolidated Statements of Operations. Substantially all of these costs will result in future cash expenditures and are expected to be substantially complete by the third quarter of 2018. As the employees are required to render service in order to receive the termination benefits, the associated liability and expense are being recognized ratably over the future service period. The total remaining liability related to this plan was $10.4 million and $2.6 million as of September 30, 2017 and December 31, 2016 , respectively, and is included in other current liabilities in the Company's Condensed Consolidated Balance Sheets.

Lease Financing Transaction

Lease Financing Transaction	9 Months Ended
	Sep. 30, 2017
Leases [Abstract]
Lease Financing Transaction	Lease Financing Transaction In June 2017, the Company's wholly-owned subsidiary Mold-Masters (2007) Limited completed the sale of two properties ("Properties") in Halton Hills, Ontario, Canada for CAD $14.25 million , or approximately USD $10.7 million , and simultaneously entered into agreements to lease back the Properties. Due to the existence of a prohibited form of continuing involvement, the transactions did not qualify for sale-leaseback accounting and as a result have been accounted for as financing transactions under lease accounting standards. Under the financing method, the assets will remain on our Condensed Consolidated Balance Sheets and the proceeds received from the transactions are reported as a financing obligation. The leases have fifteen year terms with a total of approximately CAD $16.7 million , or approximately USD $12.6 million , to be paid over the term of the leases in accordance with the base rent schedule included in the lease agreements. At September 30, 2017 , the liability under the financing transactions was $11.4 million which is included in other current liabilities and other noncurrent accrued liabilities in the Condensed Consolidated Balance Sheets.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2017
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: September 30, 2017 December 31, (in millions) Advanced Plastic Processing Technologies $ 564.4 $ 503.0 Melt Delivery and Control Systems 1,087.9 1,003.8 Fluid Technologies 145.5 141.6 Corporate 24.7 73.6 Total assets $ 1,822.5 $ 1,722.0 The following table summarizes long-lived assets, net by segment: September 30, 2017 December 31, (in millions) Advanced Plastic Processing Technologies $ 132.5 $ 121.4 Melt Delivery and Control Systems 114.2 101.0 Fluid Technologies 16.9 15.2 Corporate 6.1 6.1 Total long-lived assets, net $ 269.7 $ 243.7 The following tables summarize segment information: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions) Net sales to external customers: Advanced Plastic Processing Technologies $ 175.9 $ 168.7 $ 498.8 $ 503.8 Melt Delivery and Control Systems 108.1 95.4 320.3 288.9 Fluid Technologies 30.7 28.1 90.2 84.9 Total net sales to external customers $ 314.7 $ 292.2 $ 909.3 $ 877.6 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions) Operating earnings (loss): Advanced Plastic Processing Technologies $ 7.9 $ 11.2 $ 14.9 $ 36.5 Melt Delivery and Control Systems 26.9 20.5 82.5 73.0 Fluid Technologies 4.7 4.1 14.8 13.2 Corporate (9.9 ) (6.7 ) (34.3 ) (25.9 ) Total operating earnings $ 29.6 $ 29.1 $ 77.9 $ 96.8 Capital expenditures: Advanced Plastic Processing Technologies $ 2.6 $ 4.7 $ 12.5 $ 16.8 Melt Delivery and Control Systems 5.6 5.0 19.7 13.4 Fluid Technologies 0.8 0.4 1.6 0.8 Corporate 0.3 — 0.5 — Total capital expenditures $ 9.3 $ 10.1 $ 34.3 $ 31.0 Depreciation and amortization: Advanced Plastic Processing Technologies $ 4.5 $ 5.0 $ 14.2 $ 15.0 Melt Delivery and Control Systems 8.6 8.4 24.8 25.1 Fluid Technologies 1.2 1.4 3.6 4.1 Corporate 0.3 0.2 0.8 0.6 Total depreciation and amortization $ 14.6 $ 15.0 $ 43.4 $ 44.8 The following tables summarize net sales to external customers and long-lived assets, net by geographic region: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions) Net sales to external customers: United States $ 138.2 $ 142.0 $ 402.4 $ 415.1 China 35.4 27.4 102.3 82.3 India 31.6 23.6 83.7 74.1 Rest of World 109.5 99.2 320.9 306.1 Total net sales to external customers $ 314.7 $ 292.2 $ 909.3 $ 877.6 September 30, 2017 December 31, 2016 (in millions) Long-lived assets, net: United States $ 79.0 $ 80.3 China 47.1 37.1 India 27.0 25.9 Czech Republic 47.4 36.9 Canada 31.5 29.1 Rest of World 37.7 34.4 Total long-lived assets, net $ 269.7 $ 243.7

Background and Basis of Prese20

Background and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
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, 2016 included in the Company’s Annual Report on Form 10-K filed with the SEC on February 28, 2017.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") . ASU 2014-09, as further amended, 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. ASU 2014-09 is effective for the Company beginning January 1, 2018. The guidance permits two methods of adoption - retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). The new standard also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows from customer contracts. The Company continues to progress through the evaluation of the impact of the new standard and at this time the Company has not identified any impacts to its consolidated financial statements that the Company believes will be material in the year of adoption, with the exception of the new and expanded disclosures requirements. Based on the current estimated impact to the Company's Condensed Consolidated Financial Statements, the Company plans to adopt the new guidance under the modified retrospective approach. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) ("ASU 2016-02"). ASU 2016-02 establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be either classified as finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 also requires significant additional disclosures about the amount, timing and uncertainty of cash flows from leases. ASU 2016-02 is effective for the Company beginning January 1, 2019 with early adoption allowed and practical expedients to measure the effect of adoption also being allowed. The Company does not plan to early adopt ASU 2016-02 and is currently evaluating the effect that the adoption will have on the Company's Condensed Consolidated Financial Statements.

Goodwill and Other Intangible21

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
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 nine months ended September 30, 2017 : Advanced Plastic Processing Technologies Melt Delivery and Control Systems Fluid Technologies Corporate Total (in millions) Balance at December 31, 2016 $ 37.0 $ 424.0 $ 46.9 $ — $ 507.9 Foreign currency translation adjustments — 25.0 — — 25.0 Balance at September 30, 2017 $ 37.0 $ 449.0 $ 46.9 $ — $ 532.9
Schedule of Finite-Lived Intangible Assets	The following table summarizes the Company’s other intangible assets at September 30, 2017 : Gross Amount Accumulated Amortization Net (in millions) Intangible assets subject to amortization: Trademarks $ 43.2 $ 21.5 $ 21.7 Technology 121.2 46.2 75.0 Customer relationships 231.4 129.7 101.7 Total intangible assets subject to amortization 395.8 197.4 198.4 Trademarks, not subject to amortization 141.1 — 141.1 Total $ 536.9 $ 197.4 $ 339.5 The following table summarizes the Company’s other intangible assets at December 31, 2016 : Gross Amount Accumulated Amortization Net Amount (in millions) Intangible assets subject to amortization: Trademarks $ 41.5 $ 18.2 $ 23.3 Technology 112.6 36.3 76.3 Customer relationships 222.7 114.9 107.8 Total intangible assets subject to amortization 376.8 169.4 207.4 Trademarks, not subject to amortization 134.4 — 134.4 Total $ 511.2 $ 169.4 $ 341.8 The following table summarizes the Company’s other intangible assets at September 30, 2017 : Gross Amount Accumulated Amortization Net (in millions) Intangible assets subject to amortization: Trademarks $ 43.2 $ 21.5 $ 21.7 Technology 121.2 46.2 75.0 Customer relationships 231.4 129.7 101.7 Total intangible assets subject to amortization 395.8 197.4 198.4 Trademarks, not subject to amortization 141.1 — 141.1 Total $ 536.9 $ 197.4 $ 339.5
Intangible Assets, Not Subject to Amortization	The following table summarizes the Company’s other intangible assets at September 30, 2017 : Gross Amount Accumulated Amortization Net (in millions) Intangible assets subject to amortization: Trademarks $ 43.2 $ 21.5 $ 21.7 Technology 121.2 46.2 75.0 Customer relationships 231.4 129.7 101.7 Total intangible assets subject to amortization 395.8 197.4 198.4 Trademarks, not subject to amortization 141.1 — 141.1 Total $ 536.9 $ 197.4 $ 339.5 The following table summarizes the Company’s other intangible assets at September 30, 2017 : Gross Amount Accumulated Amortization Net (in millions) Intangible assets subject to amortization: Trademarks $ 43.2 $ 21.5 $ 21.7 Technology 121.2 46.2 75.0 Customer relationships 231.4 129.7 101.7 Total intangible assets subject to amortization 395.8 197.4 198.4 Trademarks, not subject to amortization 141.1 — 141.1 Total $ 536.9 $ 197.4 $ 339.5 The following table summarizes the Company’s other intangible assets at December 31, 2016 : Gross Amount Accumulated Amortization Net Amount (in millions) Intangible assets subject to amortization: Trademarks $ 41.5 $ 18.2 $ 23.3 Technology 112.6 36.3 76.3 Customer relationships 222.7 114.9 107.8 Total intangible assets subject to amortization 376.8 169.4 207.4 Trademarks, not subject to amortization 134.4 — 134.4 Total $ 511.2 $ 169.4 $ 341.8

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Debt	Debt for the Company consists of the following: September 30, 2017 December 31, 2016 Principal Unamortized Discount and Debt Issuance Costs Net Principal Unamortized Discount and Debt Issuance Costs Net (in millions) Senior secured term loan facility due September 2023 $ 939.9 $ 11.6 $ 928.3 $ — $ — $ — 7.75% senior unsecured notes due 2021 — — — 464.4 7.3 457.1 Senior secured term loan facility due September 2020 — — — 482.0 5.1 476.9 Borrowings under other lines of credit 7.3 — 7.3 7.0 — 7.0 Capital lease obligations and other 0.2 — 0.2 0.4 — 0.4 947.4 11.6 935.8 953.8 12.4 941.4 Less current portion (16.8 ) (0.1 ) (16.7 ) (7.3 ) — (7.3 ) $ 930.6 $ 11.5 $ 919.1 $ 946.5 $ 12.4 $ 934.1

Net Loss Per Share and Shareh23

Net Loss Per Share and Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2017
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 earnings (loss) per share ("EPS") computations: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions, except common share and per common share amounts) Numerator: Net earnings (loss) $ 12.3 $ 6.7 $ (2.2 ) $ 29.4 Denominator: Denominator for basic EPS–weighted-average common shares 68,672,996 67,567,671 68,479,192 67,389,370 Dilutive effect of stock-based compensation arrangements 2,329,239 2,661,031 — 2,630,117 Denominator for diluted EPS–adjusted weighted-average common shares 71,002,235 70,228,702 68,479,192 70,019,487 Basic EPS $ 0.18 $ 0.10 $ (0.03 ) $ 0.44 Diluted EPS $ 0.17 $ 0.10 $ (0.03 ) $ 0.42

Derivative Financial Instrume24

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
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 foreign currency forward contracts and interest rate swaps designated as cash flow hedges on the Company’s Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2017 and 2016 : 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 September 30, 2017 Foreign exchange contracts $ (0.1 ) $ (0.4 ) Interest rate swaps $ (0.2 ) $ — Three Months Ended September 30, 2016 Foreign exchange contracts $ — $ 0.6 Nine Months Ended September 30, 2017 Foreign exchange contracts $ 0.6 $ (0.8 ) Interest rate swaps $ (2.7 ) $ — Nine Months Ended September 30, 2016 Foreign exchange contracts $ 1.4 $ 0.5
Derivative Assets and Liabilities Measured at Fair Value	The derivative assets and liabilities measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016 were as follows: Balance Sheet Location Total Level 1 Level 2 Level 3 (in millions) September 30, 2017 Foreign currency forward contracts (asset position) Prepaid and other current assets $ 0.5 $ — $ 0.5 $ — Interest rate swap agreements (liability position) Other current liabilities $ 1.4 $ — $ 1.4 $ — Interest rate swap agreements (liability position) Other noncurrent accrued liabilities $ 1.3 $ — $ 1.3 $ — December 31, 2016 Foreign currency forward contracts (liability position) Other current liabilities $ 0.6 $ — $ 0.6 $ —

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2017
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 June 30, 2016 $ (109.5 ) $ (4.5 ) $ 1.0 $ (113.0 ) Other comprehensive income (loss) before reclassifications 1.7 — 0.2 1.9 Amounts reclassified from accumulated other comprehensive income (loss) — — (0.6 ) (0.6 ) Other comprehensive income (loss) 1.7 — (0.4 ) 1.3 Balance at September 30, 2016 $ (107.8 ) $ (4.5 ) $ 0.6 $ (111.7 ) Balance at June 30, 2017 $ (110.3 ) $ (7.6 ) $ (2.2 ) $ (120.1 ) Other comprehensive income (loss) before reclassifications 23.4 (0.2 ) (0.3 ) 22.9 Amounts reclassified from accumulated other comprehensive income (loss) — 0.1 0.3 0.4 Other comprehensive income (loss) 23.4 (0.1 ) — 23.3 Balance at September 30, 2017 $ (86.9 ) $ (7.7 ) $ (2.2 ) $ (96.8 ) Balance at December 31, 2015 $ (104.5 ) $ (4.6 ) $ — $ (109.1 ) Other comprehensive (loss) income before reclassifications (3.3 ) — 1.1 (2.2 ) Amounts reclassified from accumulated other comprehensive income (loss) — 0.1 (0.5 ) (0.4 ) Other comprehensive (loss) income (3.3 ) 0.1 0.6 (2.6 ) Balance at September 30, 2016 $ (107.8 ) $ (4.5 ) $ 0.6 $ (111.7 ) Balance at December 31, 2016 $ (150.0 ) $ (7.3 ) $ (0.6 ) $ (157.9 ) Other comprehensive income (loss) before reclassifications 63.1 (0.8 ) (2.3 ) 60.0 Amounts reclassified from accumulated other comprehensive income (loss) — 0.4 0.7 1.1 Other comprehensive income (loss) 63.1 (0.4 ) (1.6 ) 61.1 Balance at September 30, 2017 $ (86.9 ) $ (7.7 ) $ (2.2 ) $ (96.8 )
Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the reclassifications out of accumulated other comprehensive income (loss) during the three and nine months ended September 30, 2017 and 2016 : Classification Three Months Ended September 30, of Expense 2017 2016 (in millions) Unrealized pension and post-retirement obligations: Adjustment of pension and post-retirement obligations (a) $ (0.2 ) $ — Tax benefit (c) 0.1 — Adjustment of pension and post-retirement obligations, net of tax (0.1 ) — Derivative financial instruments: (Loss) gain on derivative financial instruments (b) (0.4 ) 0.6 Tax benefit (c) 0.1 — (Loss) gain on derivative financial instruments, net of tax (0.3 ) 0.6 Total reclassifications from accumulated other comprehensive (loss) income $ (0.4 ) $ 0.6 Classification Nine Months Ended September 30, of Expense 2017 2016 (in millions) Unrealized pension and post-retirement obligations: Adjustment of pension and post-retirement obligations (a) $ (0.5 ) $ (0.1 ) Tax benefit (c) 0.1 — Adjustment of pension and post-retirement obligations, net of tax (0.4 ) (0.1 ) Derivative financial instruments: (Loss) gain on derivative financial instruments (b) (0.8 ) 0.5 Tax benefit (c) 0.1 — (Loss) gain on derivative financial instruments, net of tax (0.7 ) 0.5 Total reclassifications from accumulated other comprehensive (loss) income $ (1.1 ) $ 0.4 (a) Amount is included in the calculation of pension cost within cost of sales and selling, general and administrative expense in the Company's Condensed Consolidated Statements of Operations. (b) Amount is included in cost of sales and gain on currency translation in the Company's Condensed Consolidated Statements of Operations. (c) These amounts are included in income tax expense in the Company's Condensed Consolidated Statements of Operations.

Warranty Reserves (Tables)

Warranty Reserves (Tables)	9 Months Ended
	Sep. 30, 2017
Product Warranties Disclosures [Abstract]
Changes in the Company's Warranty Reserves	The following table summarizes changes in the Company’s warranty reserves for the periods indicated. Accrued warranty reserves are included in other current liabilities in the Company's Condensed Consolidated Balance Sheets: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions) Balance at beginning of period $ 8.8 $ 8.4 $ 8.7 $ 8.3 Warranty expense 4.9 2.7 13.0 8.9 Warranty claims paid (4.2 ) (2.5 ) (12.6 ) (8.7 ) Foreign currency translation adjustments 0.2 0.1 0.6 0.2 Balance at end of period $ 9.7 $ 8.7 $ 9.7 $ 8.7

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Business Segment Information	The following table summarizes total assets by segment: September 30, 2017 December 31, (in millions) Advanced Plastic Processing Technologies $ 564.4 $ 503.0 Melt Delivery and Control Systems 1,087.9 1,003.8 Fluid Technologies 145.5 141.6 Corporate 24.7 73.6 Total assets $ 1,822.5 $ 1,722.0 The following table summarizes long-lived assets, net by segment: September 30, 2017 December 31, (in millions) Advanced Plastic Processing Technologies $ 132.5 $ 121.4 Melt Delivery and Control Systems 114.2 101.0 Fluid Technologies 16.9 15.2 Corporate 6.1 6.1 Total long-lived assets, net $ 269.7 $ 243.7 The following tables summarize segment information: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions) Net sales to external customers: Advanced Plastic Processing Technologies $ 175.9 $ 168.7 $ 498.8 $ 503.8 Melt Delivery and Control Systems 108.1 95.4 320.3 288.9 Fluid Technologies 30.7 28.1 90.2 84.9 Total net sales to external customers $ 314.7 $ 292.2 $ 909.3 $ 877.6 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions) Operating earnings (loss): Advanced Plastic Processing Technologies $ 7.9 $ 11.2 $ 14.9 $ 36.5 Melt Delivery and Control Systems 26.9 20.5 82.5 73.0 Fluid Technologies 4.7 4.1 14.8 13.2 Corporate (9.9 ) (6.7 ) (34.3 ) (25.9 ) Total operating earnings $ 29.6 $ 29.1 $ 77.9 $ 96.8 Capital expenditures: Advanced Plastic Processing Technologies $ 2.6 $ 4.7 $ 12.5 $ 16.8 Melt Delivery and Control Systems 5.6 5.0 19.7 13.4 Fluid Technologies 0.8 0.4 1.6 0.8 Corporate 0.3 — 0.5 — Total capital expenditures $ 9.3 $ 10.1 $ 34.3 $ 31.0 Depreciation and amortization: Advanced Plastic Processing Technologies $ 4.5 $ 5.0 $ 14.2 $ 15.0 Melt Delivery and Control Systems 8.6 8.4 24.8 25.1 Fluid Technologies 1.2 1.4 3.6 4.1 Corporate 0.3 0.2 0.8 0.6 Total depreciation and amortization $ 14.6 $ 15.0 $ 43.4 $ 44.8
Net Sales to External Customers, by Geographic Region	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in millions) Net sales to external customers: United States $ 138.2 $ 142.0 $ 402.4 $ 415.1 China 35.4 27.4 102.3 82.3 India 31.6 23.6 83.7 74.1 Rest of World 109.5 99.2 320.9 306.1 Total net sales to external customers $ 314.7 $ 292.2 $ 909.3 $ 877.6
Long-lived Assets, by Geographic Region	September 30, 2017 December 31, 2016 (in millions) Long-lived assets, net: United States $ 79.0 $ 80.3 China 47.1 37.1 India 27.0 25.9 Czech Republic 47.4 36.9 Canada 31.5 29.1 Rest of World 37.7 34.4 Total long-lived assets, net $ 269.7 $ 243.7

Background and Basis of Prese28

Background and Basis of Presentation (Details) $ in Millions	Jan. 01, 2017USD ($)
ASU 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax asset recorded	$ 1.1
ASU 2016-09 [Member] | Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment	0.8
ASU 2016-16 [Member] | Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment	$ 1.9

Goodwill and Other Intangible29

Goodwill and Other Intangible Assets - Goodwill, by Reportable Segment (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill [Roll Forward]
Balance	$ 507.9
Foreign currency translation adjustments	25
Balance	532.9
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	37
Foreign currency translation adjustments	0
Balance	37
Melt Delivery and Control Systems [Member] | Segments [Member]
Goodwill [Roll Forward]
Balance	424
Foreign currency translation adjustments	25
Balance	449
Fluid Technologies [Member] | Segments [Member]
Goodwill [Roll Forward]
Balance	46.9
Foreign currency translation adjustments	0
Balance	$ 46.9

Goodwill and Other Intangible30

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 395.8		$ 395.8		$ 376.8
Accumulated Amortization	197.4		197.4		169.4
Net Amount	198.4		198.4		207.4
Indefinite-lived Intangible Assets [Line Items]
Gross Amount	536.9		536.9		511.2
Accumulated Amortization	197.4		197.4		169.4
Net Amount	339.5		339.5		341.8
Amortization of intangible assets	7.3	$ 7.8	21.4	$ 23.5
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	43.2		43.2		41.5
Accumulated Amortization	21.5		21.5		18.2
Net Amount	21.7		21.7		23.3
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	21.5		21.5		18.2
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	121.2		121.2		112.6
Accumulated Amortization	46.2		46.2		36.3
Net Amount	75		75		76.3
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	46.2		46.2		36.3
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	231.4		231.4		222.7
Accumulated Amortization	129.7		129.7		114.9
Net Amount	101.7		101.7		107.8
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	129.7		129.7		114.9
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks, not subject to amortization	$ 141.1		$ 141.1		$ 134.4

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Mar. 01, 2017
Income Tax Disclosure [Abstract]
U.S. statutory rate	35.00%
Deferred tax liabilities, goodwill		$ 21.7
Unrecognized tax benefits		$ 7.5
Accumulated amortization of goodwill	$ 3.2

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2017	Feb. 15, 2017	Dec. 31, 2016	May 14, 2015
Debt Instrument [Line Items]
Principal	$ 947.4		$ 953.8
Unamortized Discount and Debt Issuance Costs	11.6		12.4
Net	935.8		941.4
Principal, Current portion	(16.8)		(7.3)
Unamortized Discount and Debt Issuance Costs, Current portion	(0.1)		0
Net, Current portion	(16.7)		(7.3)
Principal, Net	930.6		946.5
Unamortized Discount and Debt Issuance Costs, Net	11.5		12.4
Net	919.1		934.1
Secured Debt [Member] | Senior Secured Term Loan Facility Due September 2023 [Member]
Debt Instrument [Line Items]
Principal	939.9	$ 947	0
Unamortized Discount and Debt Issuance Costs	11.6		0
Net	928.3		0
Senior Notes [Member] | 7.75% senior unsecured notes due 2021 [Member]
Debt Instrument [Line Items]
Principal	0	464.4	464.4
Unamortized Discount and Debt Issuance Costs	0		7.3
Net	0		457.1
Senior Notes [Member] | Secured Debt [Member] | Senior secured term loan facility due September 2020 [Member]
Debt Instrument [Line Items]
Principal	0	$ 482	482	$ 730
Unamortized Discount and Debt Issuance Costs	0		5.1
Net	0		476.9
Line of Credit [Member] | Other Lines of Credit [Member]
Debt Instrument [Line Items]
Principal	7.3		7
Unamortized Discount and Debt Issuance Costs	0		0
Net	7.3		7
Capital Lease Obligations and Other [Member]
Debt Instrument [Line Items]
Principal	0.2		0.4
Unamortized Discount and Debt Issuance Costs	0		0
Net	$ 0.2		$ 0.4

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	Feb. 15, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	May 14, 2015
Debt Instrument [Line Items]
Principal		$ 947.4		$ 947.4		$ 953.8
Gain (loss) on debt extinguishment		0	$ 0	(25.2)	$ 0
Premium paid on debt redemption				(18)	0
Capitalization of debt issuance costs				9.6	$ 0
Loss on debt extinguishment [Member]
Debt Instrument [Line Items]
Gain (loss) on debt extinguishment				(25.2)
Senior Secured Term Loan Facility Due September 2023 [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Principal	$ 947	939.9		939.9		0
Debt Instrument, Issuance Price, Percentage	99.625%
Capitalization of debt issuance costs				4.6
Senior Secured Term Loan Facility Due September 2023 [Member] | Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Floor Interest Rate	0.00%
Senior Secured Term Loan Facility Due September 2023 [Member] | Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Leverage Ratio	3.5
Senior Secured Term Loan Facility Due September 2023 [Member] | Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt Instrument, Covenant, Borrowings Greater Than Leverage Ratio [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.00%
Senior Secured Term Loan Facility Due September 2023 [Member] | Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt Instrument, Covenant, Borrowings Less Than Leverage Ratio [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.75%
Senior Secured Term Loan Facility Due September 2023 [Member] | Secured Debt [Member] | Base Rate [Member] | Debt Instrument, Covenant, Borrowings Greater Than Leverage Ratio [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Senior Secured Term Loan Facility Due September 2023 [Member] | Secured Debt [Member] | Base Rate [Member] | Debt Instrument, Covenant, Borrowings Less Than Leverage Ratio [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Senior Secured Term Loan Facility Due September 2023 [Member] | Secured Debt [Member] | Post-Public Offering, Interest Rate, Option Two [Member] | Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Senior Secured Term Loan Facility Due September 2023 [Member] | Secured Debt [Member] | Post-Public Offering, Interest Rate, Option Two [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Senior secured term loan facility due September 2020 [Member] | Secured Debt [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Principal	$ 482	0		0		482	$ 730
7.75% senior unsecured notes due 2021 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Principal	$ 464.4	$ 0		0		$ 464.4
Interest rate	7.75%
Premium paid on debt redemption				18
Senior Secured Notes due 2021 and Senior Secured Term Loan Facility due September 2020 [Member] | Senior Secured Notes and Line of Credit [Member] | Loss on debt extinguishment [Member]
Debt Instrument [Line Items]
Write-off of deferred financing costs and debt discount				$ 7.2

Employee Benefit Plans (Details

Employee Benefit Plans (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)plan	Sep. 30, 2016USD ($)
Cost of sales and selling, general and administrative expenses [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension expense | $	$ 0.4	$ 0.2	$ 1.1	$ 0.8
Pension Plan [Member] | Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of noncontributory defined benefit pension plans			3
Pension Plan [Member] | Foreign Plan [Member] | United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of noncontributory defined benefit pension plans			1
Pension Plan [Member] | Foreign Plan [Member] | Germany [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of noncontributory defined benefit pension plans			2

Net Loss Per Share and Shareh35

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net earnings (loss)	$ 12.3	$ 6.7	$ (2.2)	$ 29.4
Denominator:
Denominator for basic EPS–weighted-average common shares (in shares)	68,672,996	67,567,671	68,479,192	67,389,370
Dilutive effect of stock-based compensation arrangements (in shares)	2,329,239	2,661,031	0	2,630,117
Denominator for diluted EPS–adjusted weighted-average common shares (in shares)	71,002,235	70,228,702	68,479,192	70,019,487
Basic EPS (in dollars per share)	$ 0.18	$ 0.10	$ (0.03)	$ 0.44
Diluted EPS (in dollars per share)	$ 0.17	$ 0.10	$ (0.03)	$ 0.42

Net Loss Per Share and Shareh36

Net Loss Per Share and Shareholders' Equity - Additional Information (Details)	9 Months Ended
	Sep. 30, 2017shares
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)	701,849
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)	234,411
Performance-based Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the diluted EPS calculation (in shares)	87,202
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)	4,903,238

Stock-based Compensation (Detai

Stock-based Compensation (Details) - 2015 Equity Incentive Plan [Member] - shares	Mar. 01, 2017	Jun. 30, 2015	Sep. 30, 2017
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, granted (in shares)	474,502
Award vesting period			4 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, granted (in shares)	310,945
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, granted (in shares)	182,885
Period from public disclosure in 2016 of financial results for fiscal year 2015 to vesting date		3 years
Performance-based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, granted (in shares)	87,202
Award vesting period			3 years
Minimum [Member] | Performance-based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage of award			50.00%
Maximum [Member] | Performance-based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage of award			200.00%

Derivative Financial Instrume38

Derivative Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Feb. 15, 2017	Dec. 31, 2016
Derivative [Line Items]
Gain (loss) on cash flow hedge ineffectiveness, net	$ 0		$ 0
Foreign Currency Forward [Member]
Derivative [Line Items]
Notional amounts	12		$ 12			$ 7
Remaining maturity of outstanding instruments			3 months
Foreign Currency Forward [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Gain (loss) reclassified from AOCI into income (effective portion)	0.4	$ (0.6)	$ 0.8	$ (0.5)
Gain (loss) on settlement of derivative instruments				$ (0.5)
Foreign Currency Forward [Member] | Cash Flow Hedging [Member] | Other current liabilities [Member]
Derivative [Line Items]
Derivative liability	0		0			$ 0.6
Interest Rate Swap [Member]
Derivative [Line Items]
Notional amounts					$ 400
Gain (loss) reclassified from AOCI into income (effective portion)	$ 0		$ 0
Secured Debt [Member] | Senior Secured Term Loan Facility Due September 2023 [Member]
Derivative [Line Items]
Effective interest rate					2.062%

Derivative Financial Instrume39

Derivative Financial Instruments - Effect of Designated Cash Flow Hedges on the Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Foreign Currency Forward [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Sale of Derivatives				$ (0.5)
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	$ (0.1)	$ 0	$ 0.6	1.4
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(0.4)	$ 0.6	(0.8)	$ 0.5
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	(0.2)		(2.7)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ 0		$ 0

Derivative Financial Instrume40

Derivative Financial Instruments - Derivative Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Foreign Currency Forward [Member] | Other current liabilities [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 0	$ 0.6
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	1.4
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | Other Noncurrent Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	1.3
Fair Value, Measurements, Recurring [Member] | Foreign Currency Forward [Member] | Prepaid Expenses and Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0.5
Fair Value, Measurements, Recurring [Member] | Foreign Currency Forward [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		0.6
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Interest Rate Swap [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Interest Rate Swap [Member] | Other Noncurrent Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Foreign Currency Forward [Member] | Prepaid Expenses and Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Foreign Currency Forward [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Interest Rate Swap [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	1.4
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Interest Rate Swap [Member] | Other Noncurrent Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	1.3
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Foreign Currency Forward [Member] | Prepaid Expenses and Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0.5
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Foreign Currency Forward [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		0.6
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Interest Rate Swap [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Interest Rate Swap [Member] | Other Noncurrent Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Foreign Currency Forward [Member] | Prepaid Expenses and Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	$ 0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Foreign Currency Forward [Member] | Other current liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		$ 0

Accumulated Other Comprehensi41

Accumulated Other Comprehensive Income (Loss) - Changes in Each Component of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			$ 434.9
Total other comprehensive income (loss), net of tax	$ 23.3	$ 1.3	61.1	$ (2.6)
Balance	502.2		502.2
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(120.1)	(113)	(157.9)	(109.1)
Other comprehensive income (loss) before reclassifications	22.9	1.9	60	(2.2)
Amounts reclassified from accumulated other comprehensive income (loss)	0.4	(0.6)	1.1	(0.4)
Total other comprehensive income (loss), net of tax	23.3	1.3	61.1	(2.6)
Balance	(96.8)	(111.7)	(96.8)	(111.7)
Foreign Currency Translation [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(110.3)	(109.5)	(150)	(104.5)
Other comprehensive income (loss) before reclassifications	23.4	1.7	63.1	(3.3)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Total other comprehensive income (loss), net of tax	23.4	1.7	63.1	(3.3)
Balance	(86.9)	(107.8)	(86.9)	(107.8)
Unrecognized Post- Retirement Plan Losses [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(7.6)	(4.5)	(7.3)	(4.6)
Other comprehensive income (loss) before reclassifications	(0.2)	0	(0.8)	0
Amounts reclassified from accumulated other comprehensive income (loss)	0.1	0	0.4	0.1
Total other comprehensive income (loss), net of tax	(0.1)	0	(0.4)	0.1
Balance	(7.7)	(4.5)	(7.7)	(4.5)
Derivative Financial Instruments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(2.2)	1	(0.6)	0
Other comprehensive income (loss) before reclassifications	(0.3)	0.2	(2.3)	1.1
Amounts reclassified from accumulated other comprehensive income (loss)	0.3	(0.6)	0.7	(0.5)
Total other comprehensive income (loss), net of tax	0	(0.4)	(1.6)	0.6
Balance	$ (2.2)	$ 0.6	$ (2.2)	$ 0.6

Accumulated Other Comprehensi42

Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative financial instruments:
Tax benefit	$ (6.2)	$ (7.2)	$ (21)	$ (21.8)
Total reclassifications from accumulated other comprehensive income (loss)	(0.4)	0.6	(1.1)	0.4
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of Goods and Services Sold and Selling, General and Administrative Expense	(0.2)	0	(0.5)	(0.1)
Derivative financial instruments:
Tax benefit	0.1	0	0.1	0
Total reclassifications from accumulated other comprehensive income (loss)	0.1	0	0.4	0.1
Derivative Financial Instruments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Derivative financial instruments:
Tax benefit	0.1	0	0.1	0
Total reclassifications from accumulated other comprehensive income (loss)	0.3	(0.6)	0.7	(0.5)
Cost of Goods and Services Sold and Foreign Currency Transaction Gain (Loss), before Tax	$ 0.4	$ (0.6)	$ 0.8	$ (0.5)

Warranty Reserves (Details)

Warranty Reserves (Details) - Other current liabilities [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance	$ 8.8	$ 8.4	$ 8.7	$ 8.3
Warranty expense	4.9	2.7	13	8.9
Warranty claims paid	(4.2)	(2.5)	(12.6)	(8.7)
Foreign currency translation adjustments	0.2	0.1	0.6	0.2
Balance	$ 9.7	$ 8.7	$ 9.7	$ 8.7

Restructuring Reserves (Details

Restructuring Reserves (Details) CAD in Thousands, $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2017CAD	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Restructuring Cost and Reserve [Line Items]
Assets held-for-sale, not part of disposal group, current	$ 10.7	CAD 14,250		$ 3.7	$ 0.8
2017 Restructuring Actions [Member] | Melt Delivery and Control Systems [Member]
Restructuring Cost and Reserve [Line Items]
Assets held-for-sale, not part of disposal group, current				3
2017 Restructuring Actions [Member] | Other current liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Liability, severance-related actions			$ 1.2	1.2
2017 Restructuring Actions [Member] | Other expense, net [Member]
Restructuring Cost and Reserve [Line Items]
Severance expense				2.7
2016 Restructuring Actions [Member] | Other current liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Liability, severance-related actions			10.4	10.4		$ 2.6
2016 Restructuring Actions [Member] | Other expense, net [Member]
Restructuring Cost and Reserve [Line Items]
Severance expense			$ 2.8	$ 8.1

Lease Financing Transaction (De

Lease Financing Transaction (Details) CAD in Thousands, $ in Millions	1 Months Ended		9 Months Ended
	Jun. 30, 2017USD ($)property	Jun. 30, 2017CADproperty	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2017CAD
Leases [Abstract]
Number of properties sold | property	2	2
Proceeds from sale of properties	$ 10.7	CAD 14,250	$ 3.7	$ 0.8
Lease term	15 years	15 years
Sale Leaseback Transaction [Line Items]
Total due under lease agreement	$ 12.6				CAD 16,700
Other current liabilities and other noncurrent accrued liabilities [Member]
Sale Leaseback Transaction [Line Items]
Total due under lease agreement | $			$ 11.4

Business Segment Information -

Business Segment Information - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segment	Sep. 30, 2016USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			3
Operating loss	$ (29.6)	$ (29.1)	$ (77.9)	$ (96.8)
Segments [Member] | Melt Delivery and Control Systems [Member]
Segment Reporting Information [Line Items]
Operating loss	$ (26.9)	$ (20.5)	$ (82.5)	$ (73)

Business Segment Information 47

Business Segment Information - Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total assets	$ 1,822.5		$ 1,822.5		$ 1,722
Total long-lived assets, net	269.7		269.7		243.7
Total net sales to external customers	314.7	$ 292.2	909.3	$ 877.6
Total operating earnings	29.6	29.1	77.9	96.8
Total capital expenditures	9.3	10.1	34.3	31
Total depreciation and amortization	14.6	15	43.4	44.8
Corporate [Member]
Segment Reporting Information [Line Items]
Total assets	24.7		24.7		73.6
Total long-lived assets, net	6.1		6.1		6.1
Total operating earnings	(9.9)	(6.7)	(34.3)	(25.9)
Total capital expenditures	0.3	0	0.5	0
Total depreciation and amortization	0.3	0.2	0.8	0.6
Advanced Plastic Processing Technologies [Member] | Segments [Member]
Segment Reporting Information [Line Items]
Total assets	564.4		564.4		503
Total long-lived assets, net	132.5		132.5		121.4
Total net sales to external customers	175.9	168.7	498.8	503.8
Total operating earnings	7.9	11.2	14.9	36.5
Total capital expenditures	2.6	4.7	12.5	16.8
Total depreciation and amortization	4.5	5	14.2	15
Melt Delivery and Control Systems [Member] | Segments [Member]
Segment Reporting Information [Line Items]
Total assets	1,087.9		1,087.9		1,003.8
Total long-lived assets, net	114.2		114.2		101
Total net sales to external customers	108.1	95.4	320.3	288.9
Total operating earnings	26.9	20.5	82.5	73
Total capital expenditures	5.6	5	19.7	13.4
Total depreciation and amortization	8.6	8.4	24.8	25.1
Fluid Technologies [Member] | Segments [Member]
Segment Reporting Information [Line Items]
Total assets	145.5		145.5		141.6
Total long-lived assets, net	16.9		16.9		$ 15.2
Total net sales to external customers	30.7	28.1	90.2	84.9
Total operating earnings	4.7	4.1	14.8	13.2
Total capital expenditures	0.8	0.4	1.6	0.8
Total depreciation and amortization	$ 1.2	$ 1.4	$ 3.6	$ 4.1

Business Segment Information 48

Business Segment Information - Net Sales to External Customers and Long-lived Assets, by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales to external customers	$ 314.7	$ 292.2	$ 909.3	$ 877.6
Total long-lived assets, net	269.7		269.7		$ 243.7
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales to external customers	138.2	142	402.4	415.1
Total long-lived assets, net	79		79		80.3
CZECH REPUBLIC
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	47.4		47.4		36.9
CANADA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	31.5		31.5		29.1
CHINA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales to external customers	35.4	27.4	102.3	82.3
Total long-lived assets, net	47.1		47.1		37.1
INDIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales to external customers	31.6	23.6	83.7	74.1
Total long-lived assets, net	27		27		25.9
Rest of World [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales to external customers	109.5	$ 99.2	320.9	$ 306.1
Total long-lived assets, net	$ 37.7		$ 37.7		$ 34.4