Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Mar. 31, 2014 | Apr. 30, 2014 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'NBTY INC | ' |
Entity Central Index Key | '0000070793 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--09-30 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 1,000 |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $128,933 | ' | $198,561 | $142,076 | ' | $315,136 |
Accounts receivable, net | 166,936 | ' | 171,670 | ' | ' | ' |
Inventories | 872,507 | ' | 739,952 | ' | ' | ' |
Deferred income taxes | 24,097 | ' | 23,637 | ' | ' | ' |
Other current assets | 79,447 | ' | 78,579 | ' | ' | ' |
Total current assets | 1,271,920 | ' | 1,212,399 | ' | ' | ' |
Property, plant and equipment, net | 576,112 | ' | 571,529 | ' | ' | ' |
Goodwill | 1,266,025 | ' | 1,260,802 | ' | ' | ' |
Intangible assets, net | 1,945,220 | ' | 1,960,351 | ' | ' | ' |
Other assets | 60,106 | ' | 68,235 | ' | ' | ' |
Total assets | 5,119,383 | ' | 5,073,316 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Current portion long-term debt | 311 | ' | 376 | ' | ' | ' |
Accounts payable | 261,116 | ' | 259,060 | ' | ' | ' |
Accrued expenses and other current liabilities | 203,711 | ' | 219,766 | ' | ' | ' |
Total current liabilities | 465,138 | ' | 479,202 | ' | ' | ' |
Long-term debt, net of current portion | 2,158,278 | ' | 2,158,405 | ' | ' | ' |
Deferred income taxes | 747,014 | ' | 751,419 | ' | ' | ' |
Other liabilities | 65,890 | ' | 59,451 | ' | ' | ' |
Total liabilities | 3,436,320 | ' | 3,448,477 | ' | ' | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' |
Common stock, $0.01 par; one thousand shares authorized, issued and outstanding | ' | ' | ' | ' | ' | ' |
Capital in excess of par | 1,559,482 | ' | 1,556,926 | ' | ' | ' |
Retained earnings | 123,905 | ' | 81,497 | ' | ' | ' |
Accumulated other comprehensive loss | -324 | -303 | -13,584 | -58,697 | -18,565 | -18,594 |
Total stockholder's equity | 1,683,063 | ' | 1,624,839 | ' | ' | ' |
Total liabilities and stockholder's equity | $5,119,383 | ' | $5,073,316 | ' | ' | ' |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Sep. 30, 2013 |
Consolidated Balance Sheets | ' | ' |
Common stock, par (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, shares issued (in shares) | 1,000 | 1,000 |
Common stock, shares outstanding (in shares) | 1,000 | 1,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' |
Net sales | $779,026 | $757,874 | $1,606,131 | $1,547,101 |
Costs and expenses: | ' | ' | ' | ' |
Cost of sales | 431,081 | 414,016 | 872,799 | 842,764 |
Advertising, promotion and catalog | 58,783 | 58,737 | 97,305 | 94,582 |
Selling, general and administrative | 238,894 | 231,431 | 471,577 | 450,940 |
Facility restructuring charge | ' | 30,200 | ' | 30,200 |
Total costs and expenses | 728,758 | 734,384 | 1,441,681 | 1,418,486 |
Income from operations | 50,268 | 23,490 | 164,450 | 128,615 |
Other income (expense): | ' | ' | ' | ' |
Interest | -33,086 | -41,516 | -67,904 | -78,648 |
Miscellaneous, net | -1,714 | -24 | -725 | 424 |
Total other income (expense) | -34,800 | -41,540 | -68,629 | -78,224 |
Income (loss) from operations before income taxes | 15,468 | -18,050 | 95,821 | 50,391 |
Provision (benefit) for income taxes | 5,568 | -7,649 | 32,100 | 15,621 |
Net income (loss) | 9,900 | -10,401 | 63,721 | 34,770 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes of $1,145, $(7,605), $3,533 and $(6,835) | -706 | -41,085 | 11,489 | -42,364 |
Change in fair value of interest rate swaps, net of taxes of $(427), $(599), $(1,124) and $(1,421) | 684 | 953 | 1,769 | 2,261 |
Total other comprehensive income (loss), net of tax | -22 | -40,132 | 13,258 | -40,103 |
Comprehensive income (loss) | $9,878 | ($50,533) | $76,979 | ($5,333) |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' |
Foreign currency translation adjustment, tax | $1,145 | ($7,605) | $3,533 | ($6,835) |
Change in fair value of interest rate swaps, tax | ($427) | ($599) | ($1,124) | ($1,421) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $63,721 | $34,770 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ' | ' |
Impairments and disposals of assets | 5,324 | 4,223 |
Depreciation of property, plant and equipment | 28,262 | 29,996 |
Amortization of intangible assets | 23,137 | 22,674 |
Foreign currency transaction loss (gain) | 376 | -220 |
Amortization and write-off of deferred financing fees | 9,408 | 12,157 |
Stock-based compensation | 2,556 | 1,052 |
Allowance for doubtful accounts | 303 | -182 |
Inventory reserves | 4,752 | 1,195 |
Deferred income taxes | -3,041 | -5,331 |
Call premium on term loan | ' | -15,075 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 5,552 | 2,155 |
Inventories | -135,680 | 10,075 |
Other assets | 7,005 | 5,689 |
Accounts payable | 4,069 | 17,949 |
Accrued expenses and other liabilities | -17,813 | 20,960 |
Net cash (used in) provided by operating activities | -2,069 | 142,087 |
Cash flows from investing activities: | ' | ' |
Purchase of property, plant and equipment | -47,244 | -63,692 |
Proceeds from sale of building | ' | 7,548 |
Cash paid for acquisitions, net of cash acquired | ' | -78,550 |
Net cash used in investing activities | -47,244 | -134,694 |
Cash flows from financing activities: | ' | ' |
Principal payments under long-term agreements | -215 | ' |
Proceeds from borrowings under the revolver | ' | 80,000 |
Paydowns of borrowings under the revolver | ' | -55,000 |
Payments for financing fees | ' | -7,387 |
Dividends paid | -21,313 | -193,956 |
Net cash used in financing activities | -21,528 | -176,343 |
Effect of exchange rate changes on cash and cash equivalents | 1,213 | -4,110 |
Net decrease in cash and cash equivalents | -69,628 | -173,060 |
Cash and cash equivalents at beginning of period | 198,561 | 315,136 |
Cash and cash equivalents at end of period | 128,933 | 142,076 |
Non-cash investing and financing information: | ' | ' |
Property, plant and equipment additions included in accounts payable | $4,896 | $8,599 |
Basis_of_Presentation
Basis of Presentation | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Basis of Presentation | ' | |||||||
Basis of Presentation | ' | |||||||
1. Basis of Presentation | ||||||||
We have prepared these financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") applicable to interim financial information and on a basis that is consistent with the accounting principles applied in our audited financial statements for the fiscal year ended September 30, 2013, including the notes thereto (our "2013 Financial Statements") included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2013 ("2013 Annual Report"). In our opinion, these financial statements reflect all adjustments (including normal recurring items) necessary for a fair presentation of our results for the interim periods presented. These financial statements do not include all information or notes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with GAAP. Accordingly, these financial statements should be read in conjunction with the 2013 Financial Statements. Results for interim periods are not necessarily indicative of results which may be achieved for a full year. | ||||||||
Estimates | ||||||||
The preparation of financial statements in conformity with GAAP requires that we make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent assets and liabilities at the dates of the financial statements and reported amounts of revenues and expenses during the reporting periods. These judgments can be subjective and complex, and consequently actual results could differ materially from those estimates and assumptions. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Our most significant estimates include: sales returns, promotions and other allowances; inventory valuation and obsolescence; valuation and recoverability of long-lived assets, including goodwill; stock-based compensation; income taxes and accruals for the outcome of litigation. | ||||||||
Accounts Receivable Reserves | ||||||||
Accounts receivable are presented net of the following reserves: | ||||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Allowance for sales returns | $ | 12,710 | $ | 13,549 | ||||
Promotional program incentive allowances | 85,380 | 82,827 | ||||||
Allowance for doubtful accounts | 3,705 | 2,472 | ||||||
| | | | | | | | |
$ | 101,795 | $ | 98,848 | |||||
| | | | | | | | |
| | | | | | | | |
Recent Accounting Developments | ||||||||
In February 2013, the Financial Accounting Standards Board ("FASB") issued guidance on disclosure requirements for items reclassified out of Accumulated Other Comprehensive Income ("AOCI"). This new guidance requires entities to present (either on the face of the income statement or in the notes hereto) the effects on the line items of the income statement for amounts reclassified out of AOCI. The new guidance became effective for us beginning October 1, 2013. See Note 10, "Accumulated Other Comprehensive Income (loss)" and the Consolidated Statements of Operations and Comprehensive Income (Loss). | ||||||||
In March 2013, the FASB issued guidance on a parent's accounting for the cumulative translation adjustment upon derecognition of a subsidiary or group of assets within a foreign entity. This new guidance requires that the parent release any related cumulative translation adjustment into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. The new guidance will be effective for us beginning on October 1, 2014. The adoption of this guidance is not expected to have a material impact on the Company's financial statements. | ||||||||
In July 2013, the FASB issued guidance which amends the guidance related to the presentation of unrecognized tax benefits and allows for the reduction of a deferred tax asset for a net operating loss carryforward whenever the net operating loss carryforward or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. This guidance is effective for annual and interim periods for fiscal years beginning after December 15, 2013, and early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's financial statements. | ||||||||
In April 2014, the FASB issued revised guidance to reduce diversity in practice for reporting discontinued operations. The revised guidance only allows disposals of components of an entity that represent a strategic shift (e.g., disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity) and that have a major effect on a reporting entity's operations and financial results to be reported as discontinued operations. The revised guidance also requires expanded disclosure in the financial statements for discontinued operations as well as for disposals of significant components of an entity that do not qualify for discontinued operations presentation. The revised guidance is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's financial statements. | ||||||||
Revision | ||||||||
A revision was made to prior year's Statements of Operations and Comprehensive Income (Loss) to correct the prior year presentation, whereby changes in the fair value of the cross-currency swaps were reclassified from Changes in the fair value of interest rate swaps to Foreign currency translation adjustments. | ||||||||
Facility_Restructuring_Charge
Facility Restructuring Charge | 6 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Facility Restructuring Charge | ' | ||||||||||
Facility Restructuring Charge | ' | ||||||||||
2. Facility Restructuring Charge | |||||||||||
On March 12, 2013, NBTY initiated a restructuring plan to streamline its operations and improve the profitability and return on invested capital of its manufacturing/packaging and distribution facilities. The restructuring involved the sale or closure of seven of NBTY's manufacturing/packaging and distribution facilities. | |||||||||||
The restructuring plan commenced in the second quarter of fiscal 2013 and is expected to be completed in fiscal 2014. The restructuring resulted in cumulative charges of $32,695 before tax over that period, of which non-cash charges consist primarily of accelerated depreciation of approximately $12,588. | |||||||||||
The following summarizes the restructuring cash charges recorded and reconciles these charges to accrued expenses: | |||||||||||
Workforce | Facility | Total | |||||||||
Reductions | Costs | ||||||||||
Restructuring accrual—October 1, 2013 | $ | 12,436 | $ | 2,649 | $ | 15,085 | |||||
Cash payments | (6,678 | ) | (1,369 | ) | (8,047 | ) | |||||
Other | — | (509 | ) | (509 | ) | ||||||
| | | | | | | | | | | |
Restructuring accrual—March 31, 2014 | $ | 5,758 | $ | 771 | $ | 6,529 | |||||
| | | | | | | | | | | |
| | | | | | | | | | | |
Acquisitions
Acquisitions | 6 Months Ended |
Mar. 31, 2014 | |
Acquisitions | ' |
Acquisitions | ' |
3. Acquisitions | |
Balance Bar | |
On November 26, 2012, NBTY acquired all of the outstanding shares of Balance Bar Company ("Balance Bar"), a company that markets and sells nutritional bars, for a purchase price of $77,978 of cash. NBTY used funds drawn from the revolving portion of our senior secured credit facilities to finance this acquisition. | |
The purchase price has been allocated to assets acquired and liabilities assumed based on the fair value of such assets and liabilities at the date of the acquisition. The fair values of the net assets acquired were determined using discounted cash flow analyses and estimates made by management. The purchase price was allocated to intangible assets as follows: approximately $35,500 to goodwill, which is non-amortizable under GAAP and is not currently deductible for income tax purposes, approximately $26,000 to tradenames, which are amortizable over 30 years and approximately $29,000 to customer relationships, which are amortizable over 22 years. Amortization of the acquired intangible assets is not currently deductible for income tax purposes. The acquisition of Balance Bar has expanded our operations in the Wholesale segment in the distribution of nutritional bars. | |
Essenza | |
In June 2013, our subsidiary, NBTY Europe Limited, acquired Essenza N.V. ("Essenza"), a Belgian company operating 13 retail stores, for a net purchase price of approximately $4,163 (€3,200 Euros). The allocation of net assets acquired consisted of cash, inventory, property, plant and equipment, tradename, goodwill, accounts payable and accrued liabilities and long term debt. The goodwill of approximately $4,200 associated with this acquisition is not currently deductible for tax purposes. | |
Proforma financial information and actual year-to-date results related to Essenza and Balance Bar are not provided as their impact was not material to our consolidated financial statements, individually or in the aggregate. | |
Inventories
Inventories | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Inventories | ' | |||||||
Inventories | ' | |||||||
4. Inventories | ||||||||
The components of inventories are as follows: | ||||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Raw materials | $ | 243,684 | $ | 195,713 | ||||
Work-in-process | 20,349 | 25,068 | ||||||
Finished goods | 608,474 | 519,171 | ||||||
| | | | | | | | |
Total | $ | 872,507 | $ | 739,952 | ||||
| | | | | | | | |
| | | | | | | | |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 6 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||
5. Goodwill and Intangible Assets | |||||||||||||||||
The change in the carrying amount of goodwill by segment is as follows: | |||||||||||||||||
Wholesale | European | Direct | North | Consolidated | |||||||||||||
Retail | Response / | American | |||||||||||||||
E-Commerce | Retail | ||||||||||||||||
Balance at September 30, 2013 | $ | 645,220 | $ | 324,853 | $ | 264,985 | $ | 25,744 | $ | 1,260,802 | |||||||
Purchase price adjustments | — | 517 | — | — | 517 | ||||||||||||
Foreign currency translation | (4,154 | ) | 8,860 | — | — | 4,706 | |||||||||||
| | | | | | | | | | | | | | | | | |
Balance at March 31, 2014 | $ | 641,066 | $ | 334,230 | $ | 264,985 | $ | 25,744 | $ | 1,266,025 | |||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
The carrying amounts of acquired other intangible assets, which are subject to the impact of changes in foreign currency, for the periods indicated are as follows: | |||||||||||||||||
March 31, 2014 | September 30, 2013 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | Amortization | |||||||||||||
carrying | amortization | carrying | amortization | period | |||||||||||||
amount | amount | (years) | |||||||||||||||
Definite lived intangible assets: | |||||||||||||||||
Brands and customer relationships | $ | 913,483 | $ | 136,126 | $ | 913,971 | $ | 116,330 | 17 - 25 | ||||||||
Tradenames and other | 178,065 | 19,994 | 177,903 | 16,677 | 20 - 30 | ||||||||||||
| | | | | | | | | | | | | | | | | |
1,091,548 | 156,120 | 1,091,874 | 133,007 | ||||||||||||||
Indefinite lived intangible assets: | |||||||||||||||||
Tradenames | 1,009,792 | — | 1,001,484 | — | |||||||||||||
| | | | | | | | | | | | | | | | | |
Total intangible assets | $ | 2,101,340 | $ | 156,120 | $ | 2,093,358 | $ | 133,007 | |||||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Aggregate amortization expense of other definite lived intangible assets included in the consolidated statements of operations in selling, general and administrative expenses for the three months ended March 31, 2014, and 2013 was $11,534 and $11,573, respectively. Amortization expense for the six months ended March 31, 2014, and 2013 was $23,137 and $22,674, respectively. | |||||||||||||||||
Assuming no changes in our intangible assets, estimated amortization expense for each of the five succeeding years will be approximately $46,000 per year. | |||||||||||||||||
LongTerm_Debt
Long-Term Debt | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Long-Term Debt | ' | |||||||
Long-Term Debt | ' | |||||||
6. Long-Term Debt | ||||||||
The components of long-term debt are as follows: | ||||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Senior Credit Facilities: | ||||||||
Term loan B-2 | $ | 1,507,500 | $ | 1,507,500 | ||||
Notes | 650,000 | 650,000 | ||||||
Other | 1,089 | 1,281 | ||||||
| | | | | | | | |
2,158,589 | 2,158,781 | |||||||
Less: current portion | (311 | ) | (376 | ) | ||||
| | | | | | | | |
Total | $ | 2,158,278 | $ | 2,158,405 | ||||
| | | | | | | | |
| | | | | | | | |
Senior credit facilities | ||||||||
On October 1, 2010, NBTY entered into its senior secured credit facilities (the "senior secured credit facilities") consisting of a $250,000 revolving credit facility, a $250,000 term loan A and a $1,500,000 term loan B. | ||||||||
On March 1, 2011, NBTY, Alphabet Holding Company, Inc. ("Holdings"), as the parent company of NBTY, and Barclays Bank PLC, as administrative agent, and several other lenders entered into the First Amendment and Refinancing Agreement pursuant to which NBTY repriced its loans. Under the terms of the agreement, the $1,750,000 term loan B-1 and revolving credit facility of $200,000 were established. Substantially all other terms are consistent with the original term loan B, including the amortization schedule of term loan B-1 and maturity dates. | ||||||||
On December 30, 2011, NBTY prepaid $225,000 of its future principal payments on its term loan B-1. As a result of this prepayment $9,289 of deferred financing costs were charged to interest expense. In accordance with the prepayment provisions of the credit agreement governing the senior secured credit facilities, future scheduled payments of principal will not be required until the final balloon payment in October 2017. | ||||||||
On October 11, 2012, NBTY amended its credit agreement to allow Holdings to issue and sell the Holdco Notes. In addition, among other things, the amendment (i) increased the general restricted payments basket to $50,000, (ii) increased the maximum total leverage ratio test which governs the making of restricted payments using Cumulative Credit (as defined in the credit agreement) and (iii) modified the definition of Cumulative Credit so that it conforms to the builder basket used in NBTY's indenture governing the Notes. Interest on the Holdco Notes will be paid via dividends from NBTY to Holdings, to the extent that NBTY is permitted under its credit agreement and the indenture governing the Notes. Expenses of $6,121 related to the amendment were capitalized as a deferred financing cost and are being amortized using the effective interest method. In conjunction with the amendment, NBTY paid Holdings a dividend of $193,956 in October 2012. | ||||||||
In November 2012, NBTY drew $80,000 from the revolving portion of its senior secured credit facilities to finance the acquisition of Balance Bar. As of June 30, 2013, NBTY repaid this borrowing in its entirety. | ||||||||
On March 21, 2013 (the "Second Refinancing Date"), NBTY, Holdings, Barclays Bank PLC, as administrative agent, and several other lenders entered into the Third Amendment and Second Refinancing Agreement (the "Second Refinancing") pursuant to which NBTY repriced its term loan B-1 under its credit agreement. Under the terms of the Second Refinancing, the $1,750,000 term loan B-1 was replaced with a new $1,507,500 term loan B-2. Borrowings under term loan B-2 bear interest at a floating rate which can be, at NBTY's option, either (i) Eurodollar (LIBOR) rate plus an applicable margin, or (ii) base rate plus an applicable margin, in each case, subject to a Eurodollar (LIBOR) rate floor of 1.00% or a base rate floor of 2.00%, as applicable. The applicable margin for term loan B-2 is 2.50% per annum for Eurodollar (LIBOR) loans and 1.50% per annum for base rate loans. The applicable margin for the revolving credit facility remained at 3.25% per annum for Eurodollar (LIBOR) loans and 2.25% per annum for base rate loans, with a step-down of 25 basis points upon the achievement of a total senior secured leverage ratio as set forth in the senior secured credit facilities. Substantially all other terms are consistent with the original term loan B-1, including the maturity dates. As a result of the Second Refinancing, $4,232 of previously capitalized deferred financing costs, as well as $1,151 of the call premium on term loan B-1, were expensed and included in interest expense. In addition, costs incurred and recorded as deferred financing costs were approximately $15,190, including $13,924 of the call premium paid on term loan B-1, and are being amortized using the effective interest method. NBTY funds working capital and general corporate activities, including permitted acquisitions and other investments, with cash flows from operations as well as borrowings under its revolving credit facility. | ||||||||
The following fees are applicable under the revolving credit facility: (i) an unused line fee of 0.50% per annum, based on the unused portion of the revolving credit facility; (ii) a letter of credit participation fee on the aggregate stated amount of each letter of credit available to be drawn equal to the applicable margin for Eurodollar rate loans; (iii) a letter of credit fronting fee equal to 0.25% per annum on the daily amount of each letter of credit available to be drawn; and (iv) certain other customary fees and expenses of our letter of credit issuers. | ||||||||
The revolving credit facility matures in October 2015 and term loan B-2 matures in October 2017. | ||||||||
NBTY may voluntarily prepay loans or reduce commitments under our senior secured credit facilities, in whole or in part, subject to minimum amounts, with prior notice but without premium or penalty. The Second Refinancing extended out the 1.00% prepayment penalty payable pursuant to a repricing transaction to one year after the Second Refinancing Date. | ||||||||
NBTY must make prepayments on the term loan B-2 facility with the net cash proceeds of certain asset sales, casualty and condemnation events, the incurrence or issuance of indebtedness (other than indebtedness permitted to be incurred under our senior secured credit facilities unless specifically incurred to refinance a portion of our senior secured credit facilities) and 50% of excess cash flow, as defined in the credit agreement (such percentage subject to reduction based on achievement of total senior secured leverage ratios), in each case, subject to certain reinvestment rights and other exceptions. NBTY is also required to make prepayments under its revolving credit facility at any time when, and to the extent that, the aggregate amount of the outstanding loans and letters of credit under the revolving credit facility exceeds the aggregate amount of commitments in respect of the revolving credit facility. | ||||||||
Obligations under the senior secured credit facilities are guaranteed by Holdings and each of NBTY's current and future direct and indirect subsidiaries other than (i) foreign subsidiaries, (ii) unrestricted subsidiaries, (iii) non-wholly owned subsidiaries, (iv) certain receivables financing subsidiaries, (v) certain immaterial subsidiaries and (vi) certain holding companies of foreign subsidiaries, and are secured by a first lien on substantially all of their assets, including capital stock of subsidiaries (subject to certain exceptions). | ||||||||
The senior secured credit facilities contain customary negative covenants, including, but not limited to, restrictions on NBTY and its restricted subsidiaries' ability to merge and consolidate with other companies, incur indebtedness, grant liens or security interests on assets, make acquisitions, loans, advances or investments, pay dividends, sell or otherwise transfer assets, prepay or modify terms of certain junior indebtedness, enter into transactions with affiliates, amend organizational documents, or change our line of business or fiscal year. In addition, our senior secured credit facilities require the maintenance of a maximum total senior secured leverage ratio on a quarterly basis, calculated with respect to Consolidated EBITDA, as defined therein, if at any time amounts are outstanding under the revolving credit facility, including swingline loans and letters of credit. NBTY was in compliance with all financial covenants under the senior secured credit facilities at March 31, 2014. All other financial covenants in the original credit agreement governing the senior secured credit facilities were removed as part of the First Refinancing. | ||||||||
The senior secured credit facilities provide that, upon the occurrence of certain events of default, the obligations thereunder may be accelerated and the lending commitments terminated. Such events of default include payment defaults to the lenders, material inaccuracies of representations and warranties, covenant defaults, cross-defaults to other material indebtedness, voluntary and involuntary bankruptcy proceedings, material money judgments, material ERISA/pension plan events, certain change of control events and other customary events of default. | ||||||||
Holdco Notes | ||||||||
On October 17, 2012, Holdings issued $550,000 in aggregate principal amount of 7.75%/8.50% contingent cash pay senior notes ("Holdco Notes") that mature on November 1, 2017. Interest on the Holdco Notes will accrue at the rate of 7.75% per annum with respect to cash interest and 8.50% per annum with respect to any paid-in-kind interest ("PIK Interest"). Interest on the Holdco Notes is payable semi-annually in arrears on May 1 and November 1 of each year. All interest payments made to date have been in cash. Holdings is a holding company with no operations and has no ability to service interest or principal on the Holdco Notes, other than through dividends it may receive from NBTY. NBTY is restricted, in certain circumstances, from paying dividends to Holdings by the terms of the indenture governing NBTY's 9.00% Senior Notes due 2018 ("Notes") and the senior secured credit facilities. NBTY has not guaranteed the indebtedness of Holdings, nor pledged any of its assets as collateral, and the Holdco Notes are not reflected in NBTY's financial statements. The proceeds from the offering of the Holdco Notes, along with $200,000 of cash on hand from NBTY, as described below, were used to pay transaction fees and expenses, including a consent fee of $17,345 and a $721,678 dividend to Holdings' shareholders in October 2012. | ||||||||
On December 12, 2013, Holdings issued an additional $450,000 in aggregate principal amount of Holdco Notes that mature on November 1, 2017. The additional $450,000 Holdco Notes and the $550,000 of existing Holdco Notes previously issued on October 17, 2012 have identical terms and are treated as a single class for all purposes under the indenture governing the Holdco Notes. The gross proceeds from the offering of the $450,000 additional Holdco Notes was $460,125, inclusive of a $10,125 premium, which were used to pay transaction fees and expenses, including a consent fee, totaling $18,560 and a $445,537 dividend to Holdings' shareholders in December 2013. | ||||||||
Interest on the Holdco Notes shall be payable entirely in cash ("Cash Interest") to the extent that it is less than the maximum amount of allowable dividends and distributions plus any cash at Holdings ("Applicable Amount") as defined by the indenture governing the Holdco Notes. For any interest period after May 1, 2013 (other than the final interest period ending at stated maturity), if the Applicable Amount for such interest period will: | ||||||||
(i) equal or exceed 75%, but be less than 100%, of the aggregate amount of Cash Interest that would otherwise be due on the relevant interest payment date, then Holdings may, at its option, elect to pay interest on (a) 25% of the then outstanding principal amount of the Holdco Notes by increasing the principal amount of the outstanding Holdco Notes or by issuing payment in kind notes ("PIK Notes") in a principal amount equal to such interest and (b) 75% of the then outstanding principal amount of the Holdco Notes as Cash Interest; | ||||||||
(ii) equal or exceed 50%, but be less than 75%, of the aggregate amount of Cash Interest that would otherwise be due on the relevant interest payment date, then Holdings may, at its option, elect to pay interest on (a) 50% of the then outstanding principal amount of the Holdco Notes as PIK Interest and (b) 50% of the then outstanding principal amount of the Holdco Notes as Cash Interest; | ||||||||
(iii) equal or exceed 25%, but be less than 50%, of the aggregate amount of Cash Interest that would otherwise be due on the relevant interest payment date, then Holdings may, at its option, elect to pay interest on (a) 75% of the then outstanding principal amount of the Holdco Notes as PIK Interest and (b) 25% of the then outstanding principal amount of the Holdco Notes as Cash Interest; or | ||||||||
(iv) be less than 25% of the aggregate amount of Cash Interest that would otherwise be due on the relevant interest payment date, then Holdings may, at its option, elect to pay interest on the Holdco Notes as PIK Interest. | ||||||||
As described above, Holdings' ability to pay PIK Interest depends on the calculation of the Applicable Amount regardless of the availability of cash at Holdings. | ||||||||
The interest on the Holdco Notes was paid in cash on May 1, 2013 and November 1, 2013 and was funded by a dividend of $22,970 and $21,313, respectively from NBTY. | ||||||||
Notes | ||||||||
On October 1, 2010, NBTY issued $650,000 in aggregate principal amount of senior notes bearing interest at 9% in a private placement. On August 2, 2011, these privately placed notes were exchanged for substantially identical notes that were registered under the Securities Act of 1933, as amended, and therefore are freely tradable (the privately placed notes and such registered notes exchanged therefor, the ("Notes"). The Notes are senior unsecured obligations and mature on October 1, 2018. Interest on the Notes is paid on April 1 and October 1 of each year, and commenced on April 1, 2011. | ||||||||
On and after October 1, 2014, NBTY may redeem the Notes, at its option, in whole at any time or in part from time to time, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest and additional interest, if any, to the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the 12-month period commencing on October 1 of the years set forth below: | ||||||||
Period | Redemption | |||||||
Price | ||||||||
2014 | 104.5 | % | ||||||
2015 | 102.25 | % | ||||||
2016 and thereafter | 100 | % | ||||||
In addition, at any time prior to October 1, 2014, NBTY may redeem the Notes at its option, in whole at any time or in part from time to time, at a redemption price equal to 100% of the principal amount of the Notes redeemed plus the Applicable Premium (as defined in the indenture governing the Notes) as of, and accrued and unpaid interest and additional interest, if any, to the applicable redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date). | ||||||||
The Notes are jointly and severally irrevocably and unconditionally guaranteed by each of NBTY's subsidiaries that is a guarantor under the credit agreement. The Notes are uncollateralized and rank senior in right of payment to existing and future indebtedness that is expressly subordinated to the Notes, rank equally in right of payment to our and our subsidiary guarantors' senior unsecured debt, and are effectively junior to any of NBTY or its subsidiary guarantors' secured debt, to the extent of the value of the collateral securing such debt. The Notes contain certain customary covenants including, but not limited to, restrictions on NBTY and its restricted subsidiaries' ability to merge and consolidate with other companies, incur indebtedness, grant liens or security interests on assets, make acquisitions, loans, advances or investments, or pay dividends. NBTY was in compliance with all covenants under the Notes at March 31, 2014. | ||||||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 6 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||
7. Fair Value of Financial Instruments | ||||||||||||||
GAAP establishes a framework for measuring fair value and requires disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: | ||||||||||||||
• | ||||||||||||||
Level 1—Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||
• | ||||||||||||||
Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||||||
• | ||||||||||||||
Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||||||
The following table summarizes liabilities measured at fair value on a recurring basis at March 31, 2014: | ||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||
Current: | ||||||||||||||
Interest rate swaps (included in accrued expenses and other current liabilities) | $ | — | $ | (3,441 | ) | $ | — | |||||||
Cross currency swaps (included in accrued expenses and other current liabilities) | $ | — | $ | — | $ | (4,330 | ) | |||||||
Non-current: | ||||||||||||||
Cross currency swaps (included in other liabilities) | $ | — | $ | — | $ | (24,891 | ) | |||||||
The following table summarizes liabilities measured at fair value on a recurring basis at September 30, 2013: | ||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||
Current: | ||||||||||||||
Interest rate swaps (included in accrued expenses and other current liabilities) | $ | — | $ | (5,268 | ) | $ | — | |||||||
Cross currency swaps (included in accrued expenses and other current liabilities) | $ | — | $ | — | $ | (3,855 | ) | |||||||
Non-current: | ||||||||||||||
Interest rate swaps (included in other liabilities) | $ | — | $ | (1,066 | ) | $ | — | |||||||
Cross currency swaps (included in other liabilities) | $ | — | $ | — | $ | (18,399 | ) | |||||||
The Company's swap contracts are measured at fair value based on a market approach valuation technique. With the market approach, fair value is derived using prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Although non-performance risk of the Company and the counterparty is present in all swap contracts and is a component of the estimated fair values, we do not view non-performance risk to be a significant input to the fair value for the interest rate swap contracts. However, with respect to our cross currency swap contracts, we believe that non-performance risk is higher; therefore, the Company classifies these swap contracts as "Level 3" in the fair value hierarchy and, accordingly, records estimated fair value adjustments based on internal projections and views of those contracts. The performance risk for the cross currency swap contracts as a percentage of the unadjusted liabilities ranged from 8.3% to 8.5% (8.4% weighted average) as of March 31, 2014 and 9.5% to 10.3% (9.8% weighted average) as of September 30, 2013. | ||||||||||||||
The following table shows the Level 3 activity related to our cross currency swaps for the three and six months ended March 31, 2014 and 2013: | ||||||||||||||
Interest Rate Swaps | ||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||
March 31, | March 31, | March 31, | March 31, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Beginning balance: | $ | (27,359 | ) | $ | (25,877 | ) | $ | (22,254 | ) | $ | (24,862 | ) | ||
Unrealized loss on cross currency swaps | (1,862 | ) | 19,750 | (6,967 | ) | 18,735 | ||||||||
| | | | | | | | | | | | | | |
Ending balance: | $ | (29,221 | ) | $ | (6,127 | ) | $ | (29,221 | ) | $ | (6,127 | ) | ||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
To manage the potential risk arising from changing interest rates and their impact on long-term debt, our policy is to maintain a combination of available fixed and variable rate financial instruments. During March 2011, we entered into three interest rate swap contracts to fix the LIBOR indexed interest rates on a portion of our senior secured credit facilities until the indicated expiration dates of these swap contracts. Each swap contract has an initial notional amount of $333,333 (for a total of one billion dollars), with a fixed interest rate of 1.92% for a four-year term. The notional amount of each swap decreased to $266,666 in December 2012, decreased to $166,666 in December 2013 and has a maturity date of December 2014. Under the terms of the swap contracts, variable interest payments for a portion of our senior secured credit facilities are swapped for fixed interest payments. These interest rate swap contracts were designated as a cash flow hedge of the variable interest payments on a portion of our term loan debt. Hedge effectiveness is being assessed based on the overall changes in the fair value of the interest rate swap contracts. Any potential ineffectiveness is measured using the hypothetical derivative method. Any ineffectiveness is recognized in current earnings. Hedge ineffectiveness from inception to March 31, 2014 was $0. | ||||||||||||||
Cross Currency Swaps | ||||||||||||||
To manage the potential exposure from adverse changes in currency exchange rates, specifically the British pound, arising from our net investment in British pound denominated operations, we entered into three cross currency swap contracts in December 2010, to hedge a portion of the net investment in our British pound denominated foreign operations. The aggregate notional amount of the swap contracts is £194,200 British pounds (approximately $300,000 U.S. dollars), with a forward rate of 1.565, and a termination date of September 30, 2017. | ||||||||||||||
These cross currency contracts were designated as a net investment hedge to the net investment in our British pound denominated operations. Hedge effectiveness is assessed based on the overall changes in the fair value of the cross currency swap contracts. Any potential hedge ineffectiveness is measured using the hypothetical derivative method and is recognized in current earnings. Hedge ineffectiveness loss for the three months ended March 31, 2014 and 2013 was $58 and $656, respectively, and is recorded in Miscellaneous, net. Hedge ineffectiveness (gain) / loss for the six months ended March 31, 2014 and 2013 was ($952) and $719, respectively. | ||||||||||||||
The following table shows the effect, net of tax impact, of the Company's derivative instruments designated as cash flow and net investment hedging instruments: | ||||||||||||||
Three Months Ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Amount of | Amount of | Amount of | Amount of Gain | |||||||||||
Gain or (Loss) | Gain or (Loss) | Gain or (Loss) | or (Loss) | |||||||||||
Recognized in | Reclassified from | Recognized in | Reclassified from | |||||||||||
Accumulated | Accumulated | Accumulated | Accumulated | |||||||||||
OCI on | OCI into | OCI on | OCI into | |||||||||||
Derivative | Income | Derivative | Income | |||||||||||
(Effective Portion) | (Effective Portion) | (Effective Portion) | (Effective Portion) | |||||||||||
Cash Flow Hedges: | ||||||||||||||
Interest rate swaps | $ | (463 | ) | $ | (1,147 | ) | $ | (882 | ) | $ | (1,835 | ) | ||
Net Investment Hedges: | ||||||||||||||
Cross currency swaps | (1,090 | ) | — | 12,529 | — | |||||||||
| | | | | | | | | | | | | | |
Total | $ | (1,553 | ) | $ | (1,147 | ) | $ | 11,647 | $ | (1,835 | ) | |||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Six Months Ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Amount of | Amount of | Amount of | Amount of | |||||||||||
Gain or (Loss) | Gain or (Loss) | Gain or (Loss) | Gain or (Loss) | |||||||||||
Recognized in | Reclassified from | Recognized in | Reclassified from | |||||||||||
Accumulated | Accumulated | Accumulated | Accumulated | |||||||||||
OCI on | OCI into | OCI on | OCI into | |||||||||||
Derivative | Income | Derivative | Income | |||||||||||
(Effective Portion) | (Effective Portion) | (Effective Portion) | (Effective Portion) | |||||||||||
Cash Flow Hedges: | ||||||||||||||
Interest rate swaps | $ | (1,245 | ) | $ | (3,014 | ) | $ | (1,913 | ) | $ | (4,174 | ) | ||
Net Investment Hedges: | ||||||||||||||
Cross currency swaps | (5,244 | ) | — | 11,945 | — | |||||||||
| | | | | | | | | | | | | | |
Total | $ | (6,489 | ) | $ | (3,014 | ) | $ | 10,032 | $ | (4,174 | ) | |||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Term loan B-2 | ||||||||||||||
The face amount of the term loan B-2 is $1,507,500, which approximates fair value based on Level 2 inputs, as this loan accrues interest at a variable interest rate. | ||||||||||||||
Notes | ||||||||||||||
The fair value of the Notes, based on quoted market prices (Level 2), was approximately $699,000 as of March 31, 2014. | ||||||||||||||
Litigation_Summary
Litigation Summary | 6 Months Ended |
Mar. 31, 2014 | |
Litigation Summary | ' |
Litigation Summary | ' |
8. Litigation Summary | |
Glucosamine-Based Dietary Supplements | |
Beginning in June 2011, certain putative class actions have been filed in various jurisdictions against NBTY, its subsidiary Rexall Sundown, Inc. ("Rexall"), and/or other companies as to which there may be a duty to defend and indemnify, challenging the marketing of glucosamine-based dietary supplements, under various states' consumer protection statutes. The lawsuits against NBTY and its subsidiaries are: Cardenas v. NBTY, Inc. and Rexall Sundown, Inc. (filed June 14, 2011) in the United States District Court for the Eastern District of California, on behalf of a putative class of California consumers seeking unspecified compensatory damages based on theories of restitution and disgorgement, plus punitive damages and injunctive relief; Jennings v. Rexall Sundown, Inc. (filed August 22, 2011) in the United States District Court for the District of Massachusetts, on behalf of a putative class of Massachusetts consumers seeking unspecified trebled compensatory damages; and Nunez v. NBTY, Inc. et al. (filed March 1, 2013) in the United States District Court for the Southern District of California (the "Nunez Case"), on behalf of a putative class of California consumers seeking unspecified compensatory damages based on theories of restitution and disgorgement, plus injunctive relief, as well as other cases in California and Illinois against certain wholesale customers as to which we may have certain indemnification obligations. The Nunez Case settled on an individual basis on June 20, 2013. | |
In March 2013, NBTY agreed upon a proposed settlement with the remaining plaintiffs, which includes all cases and resolves all pending claims without any admission of or concession of liability by NBTY, and which provides for a release of all claims in return for payments to the class, together with attorneys' fees, and notice and administrative costs. Fairness Hearings took place on October 4, 2013 and November 20, 2013. On January 3, 2014, the court issued an opinion and order approving the settlement as modified ("the Order"). The final judgment was issued on January 22, 2014 ("the Judgment"). Certain objectors filed a notice of appeal of the Order and the Judgment on January 29, 2014 and the plaintiffs filed a notice of appeal on February 3, 2014, and those appeals are pending. | |
In fiscal 2013, NBTY recorded a provision of $12,000 reflecting its best estimate of exposure for payments to the class together with attorney's fees, and notice and administrative costs in connection with this class action settlement. As a result of the court's approval of the settlement and the closure of the claims period, NBTY has reduced its estimate of exposure to $6,100. This reduction in the estimated exposure was reflected in the Company's first quarter results for fiscal 2014. Until the appeal is resolved, no final determination can be made as to the ultimate outcome of the litigation or the amount of liability on the part of NBTY. | |
Claims in the Ordinary Course | |
In addition to the foregoing, other regulatory inquiries, claims, suits and complaints (including product liability, false advertising, intellectual property and Proposition 65 claims) arise from time to time in the ordinary course of our business. We believe that such other inquiries, claims, suits and complaints would not have a material adverse effect on each of our consolidated financial statements, if adversely determined against us. | |
Income_Taxes
Income Taxes | 6 Months Ended |
Mar. 31, 2014 | |
Income Taxes | ' |
Income Taxes | ' |
9. Income Taxes | |
Our provision for income taxes is impacted by a number of factors, including federal taxes, our international tax structure, state tax rates in the jurisdictions where we conduct business, and our ability to utilize state tax credits that expire between 2014 and 2028. Therefore, our overall effective income tax rate could vary. | |
The effective income tax rate for the three months ended March 31, 2014 and 2013 was 36.0% and 42.4%, respectively. The effective income tax rate for the six months ended March 31, 2014 and 2013 was 33.5% and 31.0%, respectively. Our effective tax rate for the three and six month periods is different than the Federal statutory rate generally due to the timing and mixture (foreign and domestic) of income and the partial reinvestment of foreign earnings in fiscal 2014 and 2013, as well as the facility restructuring charge which had a favorable impact on the prior year. | |
We accrue interest and penalties related to unrecognized tax benefits in the provision for income taxes. This methodology is consistent with previous periods. At March 31, 2014, we had $1,789 and $662 accrued for the potential payment of interest and penalties, respectively. As of March 31, 2014, we were subject to U.S. federal income tax examinations for the tax years 2007-2013, and to non-U.S. examinations for the tax years 2006-2013. In addition, we are generally subject to state and local examinations for fiscal years 2008-2013. | |
The Company is under an Internal Revenue Service ("IRS") examination for tax years 2007-2012. Among other issues, the IRS has questioned the values used by the Company to transfer product and provide services to an international subsidiary. The Company believes it has appropriately valued such product transfers and services and intends to continue to support this position as the IRS examination progresses. | |
At March 31, 2014, we had a liability of $14,260 for unrecognized tax benefits, the recognition of which would have an effect of $10,670 on provision for income taxes at the effective income tax rate. We do not believe that the amount will change significantly in the next 12 months. At this time, we are unable to make a reasonably reliable estimate of the timing of payments in individual years beyond 12 months due to uncertainties in the timing of tax audit outcomes. | |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||
10. Accumulated Other Comprehensive Income (Loss) | |||||||||||
Additions to and reclassifications out of accumulated other comprehensive income (loss) attributable to the Company were as follows: | |||||||||||
Three Months Ended March 31, 2014(1) | |||||||||||
Foreign currency | Gains and losses | Total | |||||||||
translation | on cash flow | ||||||||||
adjustments | hedges | ||||||||||
Balance at December 31, 2013 | $ | 2,514 | $ | (2,817 | ) | $ | (303 | ) | |||
Other comprehensive income (loss) before reclassifications | (705 | ) | (462 | ) | (1,167 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss)(2) | — | 1,146 | 1,146 | ||||||||
| | | | | | | | | | | |
Balance at March 31, 2014 | $ | 1,809 | $ | (2,133 | ) | $ | (324 | ) | |||
| | | | | | | | | | | |
| | | | | | | | | | | |
Three Months Ended March 31, 2013(1) | |||||||||||
Foreign currency | Gains and losses | Total | |||||||||
translation | on cash flow | ||||||||||
adjustments | hedges | ||||||||||
Balance at December 31, 2012 | $ | (11,567 | ) | $ | (6,998 | ) | $ | (18,565 | ) | ||
Other comprehensive income (loss) before reclassifications | (41,085 | ) | (882 | ) | (41,967 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss)(2) | — | 1,835 | 1,835 | ||||||||
| | | | | | | | | | | |
Balance at March 31, 2013 | $ | (52,652 | ) | $ | (6,045 | ) | $ | (58,697 | ) | ||
| | | | | | | | | | | |
| | | | | | | | | | | |
-1 | |||||||||||
All amounts are net of tax, amounts in parentheses indicate debits. | |||||||||||
-2 | |||||||||||
These (gains) losses are reclassified into Interest expense. See Note 7, Fair Value of Financial Instruments. | |||||||||||
Six Months Ended March 31, 2014(1) | |||||||||||
Foreign currency | Gains and losses | Total | |||||||||
translation | on cash flow | ||||||||||
adjustments | hedges | ||||||||||
Balance at September 30, 2013 | $ | (9,680 | ) | $ | (3,902 | ) | $ | (13,582 | ) | ||
Other comprehensive income (loss) before reclassifications | 11,489 | (1,245 | ) | 10,244 | |||||||
Amounts reclassified from accumulated other comprehensive income (loss)(2) | — | 3,014 | 3,014 | ||||||||
| | | | | | | | | | | |
Balance at March 31, 2014 | $ | 1,809 | $ | (2,133 | ) | $ | (324 | ) | |||
| | | | | | | | | | | |
| | | | | | | | | | | |
Six Months Ended March 31, 2013(1) | |||||||||||
Foreign currency | Gains and losses | Total | |||||||||
translation | on cash flow | ||||||||||
adjustments | hedges | ||||||||||
Balance at September 30, 2012 | $ | (10,288 | ) | $ | (8,306 | ) | $ | (18,594 | ) | ||
Other comprehensive income (loss) before reclassifications | (42,364 | ) | (1,913 | ) | (44,277 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss)(2) | — | 4,174 | 4,174 | ||||||||
| | | | | | | | | | | |
Balance at March 31, 2013 | $ | (52,652 | ) | $ | (6,045 | ) | $ | (58,697 | ) | ||
| | | | | | | | | | | |
| | | | | | | | | | | |
-1 | |||||||||||
All amounts are net of tax, amounts in parentheses indicate debits. | |||||||||||
-2 | |||||||||||
These (gains) losses are reclassified into Interest expense. See Note 7, Fair Value of Financial Instruments. | |||||||||||
Business_and_Credit_Concentrat
Business and Credit Concentration | 6 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Business and Credit Concentration | ' | |||||||||||||
Business and Credit Concentration | ' | |||||||||||||
11. Business and Credit Concentration | ||||||||||||||
Financial Instruments | ||||||||||||||
Financial instruments that potentially subject us to credit risk consist primarily of cash and cash equivalents (the amounts of which may, at times, exceed Federal Deposit Insurance Corporation limits on insurable amounts), investments and trade accounts receivable. We mitigate our risk by investing in or through major financial institutions. | ||||||||||||||
Customers | ||||||||||||||
We perform on-going credit evaluations of our customers and adjust credit limits based upon payment history and the customers' current creditworthiness, as determined by review of their current credit information. Customers' account activity is continuously monitored. As a result of this review process, we record bad debt expense, which is based upon historical experience as well as specific customer collection issues that have been identified, to adjust the carrying amount of the related receivable to its estimated realizable value. While such bad debt expenses historically have been within expectations and the allowances established, if the financial condition of one or more of our customers were to deteriorate, additional bad debt provisions may be required. | ||||||||||||||
The following customers accounted for the following percentages of the Wholesale segment's net sales and our consolidated net sales, respectively: | ||||||||||||||
Wholesale | Total | |||||||||||||
Segment | Consolidated | |||||||||||||
Net Sales | Net Sales | |||||||||||||
Three Months | Three Months | |||||||||||||
Ended | Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Customer A | 21 | % | 22 | % | 12 | % | 13 | % | ||||||
Customer B | 8 | % | 10 | % | 5 | % | 6 | % | ||||||
Wholesale | Total | |||||||||||||
Segment | Consolidated | |||||||||||||
Net Sales | Net Sales | |||||||||||||
Six Months | Six Months | |||||||||||||
Ended | Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Customer A | 20 | % | 22 | % | 12 | % | 14 | % | ||||||
Customer B | 13 | % | 10 | % | 8 | % | 6 | % | ||||||
Customer C | 9 | % | 11 | % | 5 | % | 7 | % | ||||||
The following customers accounted for the following percentages of the Wholesale segment's gross accounts receivable: | ||||||||||||||
March 31, | September 30, | |||||||||||||
2014 | 2013 | |||||||||||||
Customer A | 16 | % | 12 | % | ||||||||||
Customer B | 9 | % | 11 | % | ||||||||||
The loss of any of these customers, or any one of our other major customers, would have a material adverse effect on our financial statements if we were unable to replace that customer. | ||||||||||||||
Related_Party_Transactions
Related Party Transactions | 6 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions | ' |
Related Party Transactions | ' |
12. Related Party Transactions | |
Consulting Agreement—Carlyle | |
NBTY entered into a consulting agreement with Carlyle under which we pay Carlyle a fee for consulting services Carlyle provides to us and our subsidiaries. Under this agreement, subject to certain conditions, we expect to pay an annual consulting fee to Carlyle of $3,000; we will reimburse them for out-of-pocket expenses, and we may pay Carlyle additional fees associated with other future transactions. For the three and six months ended March 31, 2014 and 2013, these fees totaled $750 and $1,500, respectively, and are recorded in selling, general and administrative expenses. Out of pocket expenditures paid to Carlyle were $39 and $29 for the three months ended March 31, 2014 and 2013, respectively, and $368 and $311 for the six months ended March 31, 2014 and 2013, respectively. | |
Holdings | |
Holdings does not have any operations or cash flow other than dividends from NBTY. Holdings has $1,000,000 of Holdco Notes and relies on dividends from NBTY to service the debt. See Note 6 Long-Term Debt for further information. | |
Segment_Information
Segment Information | 6 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||
13. Segment Information | |||||||||||||||||||||||
We are organized by segments on a worldwide basis. We evaluate performance based on a number of factors; however, the primary measures of performance are the net sales and income or loss from operations (before corporate allocations) of each segment, as these are the key performance indicators that we review. Operating income or loss for each segment does not include the impact of any intercompany transfer pricing mark-up, corporate general and administrative expenses, interest expense and other miscellaneous income/expense items. Corporate general and administrative expenses include, but are not limited to, human resources, legal, finance, and various other corporate-level activity related expenses. Such unallocated expenses remain within Corporate/Manufacturing. | |||||||||||||||||||||||
All of our products fall into one or more of these four segments: | |||||||||||||||||||||||
• | |||||||||||||||||||||||
Wholesale—This segment sells products under various brand names and third-party private labels, each targeting specific market groups which include virtually all major mass merchandisers, club stores, drug store chains and supermarkets. This segment also sells products to independent pharmacies, health food stores, the military and other retailers. | |||||||||||||||||||||||
• | |||||||||||||||||||||||
European Retail—This segment generates revenue through its 743 Holland & Barrett stores (including franchised stores in the following countries: 27 in China, 27 in Singapore, eight in each of United Arab Emirates and Cyprus, four in Malta and one in each of Gibraltar and Iceland), 131 De Tuinen stores (including seven franchised locations) in the Netherlands, 57 GNC (UK) stores in the U.K., 47 Nature's Way stores in Ireland and 13 Essenza stores in Belgium which were acquired in June of 2013, as well as internet-based sales from www.hollandandbarret.com, www.detuinen.nl and www.gnc.co.uk. Such revenue consists of sales of proprietary brand and third-party products as well as franchise fees. | |||||||||||||||||||||||
• | |||||||||||||||||||||||
Direct Response/E-Commerce—This segment generates revenue through the sale of proprietary brand and third-party products primarily through mail order catalog and internet under the Puritan's Pride tradename. Catalogs are strategically mailed to customers who order by mail, internet or phone. | |||||||||||||||||||||||
• | |||||||||||||||||||||||
North American Retail—This segment generates revenue through its 417 owned and operated Vitamin World stores selling proprietary brand and third-party products, as well as internet-based sales fromwww.vitaminworld.com. | |||||||||||||||||||||||
The following table represents key financial information of our business segments: | |||||||||||||||||||||||
Total Reportable Business Segments | |||||||||||||||||||||||
Wholesale | European | Direct | North | Total | Corporate/ | Consolidated | |||||||||||||||||
Retail | Response/E- | American | Manufacturing | ||||||||||||||||||||
Commerce | Retail | ||||||||||||||||||||||
Three Months Ended March 31, 2014: | |||||||||||||||||||||||
Net sales | $ | 443,449 | $ | 215,317 | $ | 63,601 | $ | 56,659 | $ | 779,026 | $ | — | $ | 779,026 | |||||||||
Income (loss) from operations | 19,004 | 49,915 | 7,388 | 1,702 | 78,009 | (27,741 | ) | 50,268 | |||||||||||||||
Depreciation and amortization | 9,081 | 4,133 | 2,833 | 767 | 16,814 | 9,020 | 25,834 | ||||||||||||||||
Capital expenditures | 172 | 9,547 | 113 | 3,957 | 13,789 | 12,208 | 25,997 | ||||||||||||||||
Three Months Ended March 31, 2013: | |||||||||||||||||||||||
Net sales | $ | 445,672 | $ | 187,103 | $ | 63,898 | $ | 61,201 | 757,874 | — | 757,874 | ||||||||||||
Income (loss) from operations | 26,964 | 42,517 | 11,075 | 6,866 | 87,422 | (63,932 | ) | 23,490 | |||||||||||||||
Depreciation and amortization | 10,068 | 3,766 | 2,505 | 613 | 16,952 | 12,327 | 29,279 | ||||||||||||||||
Capital expenditures | 55 | 5,810 | 656 | 668 | 7,189 | 22,985 | 30,174 | ||||||||||||||||
Six Months Ended March 31, 2014: | |||||||||||||||||||||||
Net sales | $ | 948,723 | $ | 420,229 | $ | 123,963 | $ | 113,216 | $ | 1,606,131 | $ | — | $ | 1,606,131 | |||||||||
Income (loss) from operations | 101,732 | 93,875 | 14,363 | 4,494 | 214,464 | (50,014 | ) | 164,450 | |||||||||||||||
Depreciation and amortization | 18,167 | 8,177 | 5,645 | 1,473 | 33,462 | 17,937 | 51,399 | ||||||||||||||||
Capital expenditures | 203 | 14,868 | 682 | 7,590 | 23,343 | 23,901 | 47,244 | ||||||||||||||||
Six Months Ended March 31, 2013: | |||||||||||||||||||||||
Net sales | $ | 939,876 | $ | 366,087 | $ | 122,582 | $ | 118,556 | 1,547,101 | — | 1,547,101 | ||||||||||||
Income (loss) from operations | 96,891 | 82,501 | 23,324 | 12,748 | 215,464 | (86,849 | ) | 128,615 | |||||||||||||||
Depreciation and amortization | 19,697 | 7,509 | 5,009 | 1,243 | 33,458 | 19,212 | 52,670 | ||||||||||||||||
Capital expenditures | 230 | 13,918 | 768 | 1,425 | 16,341 | 47,351 | 63,692 | ||||||||||||||||
Total assets by segment are as follows: | |||||||||||||||||||||||
March 31, | September 30, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Reportable Business Segments: | |||||||||||||||||||||||
Wholesale | $ | 2,615,071 | $ | 2,553,857 | |||||||||||||||||||
European Retail | 963,349 | 924,979 | |||||||||||||||||||||
Direct Response / E-Commerce | 688,244 | 692,685 | |||||||||||||||||||||
North American Retail | 123,768 | 119,395 | |||||||||||||||||||||
| | | | | | | | ||||||||||||||||
Total Reportable Business Segments: | 4,390,432 | 4,290,916 | |||||||||||||||||||||
| | | | | | | | ||||||||||||||||
Corporate / Manufacturing | 728,951 | 782,400 | |||||||||||||||||||||
| | | | | | | | ||||||||||||||||
Consolidated assets | $ | 5,119,383 | $ | 5,073,316 | |||||||||||||||||||
| | | | | | | | ||||||||||||||||
| | | | | | | | ||||||||||||||||
Condensed_Consolidating_Financ
Condensed Consolidating Financial Statements of Guarantors | 6 Months Ended | |||||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||||
Condensed Consolidating Financial Statements of Guarantors | ' | |||||||||||||||||||||||||
Condensed Consolidating Financial Statements of Guarantors | ' | |||||||||||||||||||||||||
14. Condensed Consolidating Financial Statements of Guarantors | ||||||||||||||||||||||||||
The Notes were issued by NBTY and are guaranteed by each of its current and future direct and indirect 100% owned subsidiaries, subject to certain exceptions. These guarantees are full, unconditional and joint and several. The following condensed consolidating financial information presents: | ||||||||||||||||||||||||||
1 | ||||||||||||||||||||||||||
Condensed consolidating financial statements as of March 31, 2014 and September 30, 2013 and for the three and six months ended March 31, 2014 and 2013 of (a) NBTY, the parent and issuer, (b) the guarantor subsidiaries, (c) the non-guarantor subsidiaries and (d) the Company on a consolidated basis; and | ||||||||||||||||||||||||||
2 | ||||||||||||||||||||||||||
Elimination entries necessary to consolidate NBTY, the parent, with guarantor and non-guarantor subsidiaries. | ||||||||||||||||||||||||||
The condensed consolidating financial statements are presented using the equity method of accounting for investments in wholly owned subsidiaries. Under this method, the investments in subsidiaries are recorded at cost and adjusted for our share of the subsidiaries' cumulative results of operations, other comprehensive income, capital contributions, distributions and other equity changes. The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. This financial information should be read in conjunction with the financial statements and other notes related thereto. | ||||||||||||||||||||||||||
In the first quarter of fiscal 2014, we revised the presentation of certain amounts related to the application of push-down accounting in connection with the acquisition of the Company by Carlyle on October 1, 2010 which resulted in a revised presentation of a debt balance and the associated intercompany interest between the parent and guarantors and the presentation of certain transactions previously reflected as intercompany activities as equity transactions. In addition, we revised the allocation of SG&A costs between parent and guarantors, as well as the cash flow presentation for dividends remitted from the non-guarantor subsidiaries as well as funds remitted from the guarantor to the parent. These revisions impacted the consolidating balance sheet as of September 30, 2013, the consolidating statements of income and comprehensive income for the three and six months ended March 31, 2013 and cash flows for the six months ended March 31, 2013. The revisions to this supplemental information did not impact any amounts reported in our previously issued Consolidated Financial Statements. In accordance with SEC Staff Accounting Bulletin Nos. 99 and 108, we assessed the materiality of these revisions and concluded that the revisions were not material to any of our previously issued consolidated financial statements. As comparative prior period supplemental guarantor subsidiaries financial information is presented in future filings, we will similarly revise such prior period information. | ||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 55,295 | $ | — | $ | 78,671 | $ | (5,033 | ) | $ | 128,933 | |||||||||||||||
Accounts receivable, net | — | 120,839 | 46,097 | — | 166,936 | |||||||||||||||||||||
Intercompany | 32,716 | — | 67,856 | (100,572 | ) | — | ||||||||||||||||||||
Inventories | — | 680,303 | 192,204 | — | 872,507 | |||||||||||||||||||||
Deferred income taxes | — | 23,445 | 652 | — | 24,097 | |||||||||||||||||||||
Other current assets | 19,476 | 25,492 | 34,479 | — | 79,447 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total current assets | 107,487 | 850,079 | 419,959 | (105,605 | ) | 1,271,920 | ||||||||||||||||||||
Property, plant and equipment, net | 73,718 | 319,672 | 182,722 | — | 576,112 | |||||||||||||||||||||
Goodwill | — | 813,688 | 452,337 | — | 1,266,025 | |||||||||||||||||||||
Other intangible assets, net | — | 1,580,670 | 364,550 | — | 1,945,220 | |||||||||||||||||||||
Other assets | 51,368 | 8,648 | 90 | — | 60,106 | |||||||||||||||||||||
Intercompany loan receivable | 2,490,442 | 1,025,750 | — | (3,516,192 | ) | — | ||||||||||||||||||||
Investments in subsidiaries | 2,282,832 | — | — | (2,282,832 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total assets | $ | 5,005,847 | $ | 4,598,507 | $ | 1,419,658 | $ | (5,904,629 | ) | $ | 5,119,383 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Liabilities and Stockholder's Equity | ||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||
Current portion of long-term debt | $ | — | $ | — | $ | 311 | $ | — | $ | 311 | ||||||||||||||||
Accounts payable | — | 187,782 | 78,367 | (5,033 | ) | 261,116 | ||||||||||||||||||||
Intercompany | 67,856 | 32,716 | — | (100,572 | ) | — | ||||||||||||||||||||
Accrued expenses and other current liabilities | 37,047 | 125,762 | 40,902 | — | 203,711 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total current liabilities | 104,903 | 346,260 | 119,580 | (105,605 | ) | 465,138 | ||||||||||||||||||||
Intercompany loan payable | 1,021,342 | 2,161,910 | 332,940 | (3,516,192 | ) | — | ||||||||||||||||||||
Long-term debt, net of current portion | 2,157,500 | — | 778 | — | 2,158,278 | |||||||||||||||||||||
Deferred income taxes | 14,151 | 633,316 | 99,547 | — | 747,014 | |||||||||||||||||||||
Other liabilities | 24,888 | 15,557 | 25,445 | — | 65,890 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total liabilities | 3,322,784 | 3,157,043 | 578,290 | (3,621,797 | ) | 3,436,320 | ||||||||||||||||||||
Commitments and contingencies | ||||||||||||||||||||||||||
Stockholder's Equity: | ||||||||||||||||||||||||||
Common stock | — | — | — | — | — | |||||||||||||||||||||
Capital in excess of par | 1,559,482 | 1,211,581 | 733,411 | (1,944,992 | ) | 1,559,482 | ||||||||||||||||||||
Retained earnings | 123,905 | 232,016 | 98,298 | (330,314 | ) | 123,905 | ||||||||||||||||||||
Accumulated other comprehensive income (loss) | (324 | ) | (2,133 | ) | 9,659 | (7,526 | ) | (324 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total stockholder's equity | 1,683,063 | 1,441,464 | 841,368 | (2,282,832 | ) | 1,683,063 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total liabilities and stockholder's equity | $ | 5,005,847 | $ | 4,598,507 | $ | 1,419,658 | $ | (5,904,629 | ) | $ | 5,119,383 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 81,356 | $ | 35,357 | $ | 81,848 | $ | — | $ | 198,561 | ||||||||||||||||
Accounts receivable, net | — | 127,894 | 43,776 | — | 171,670 | |||||||||||||||||||||
Intercompany | 34,549 | — | — | (34,549 | ) | — | ||||||||||||||||||||
Inventories | — | 561,276 | 178,676 | — | 739,952 | |||||||||||||||||||||
Deferred income taxes | — | 23,004 | 633 | — | 23,637 | |||||||||||||||||||||
Other current assets | 19,033 | 24,104 | 35,442 | — | 78,579 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total current assets | 134,938 | 771,635 | 340,375 | (34,549 | ) | 1,212,399 | ||||||||||||||||||||
Property, plant and equipment, net | 88,612 | 308,852 | 174,065 | — | 571,529 | |||||||||||||||||||||
Goodwill | — | 813,688 | 447,114 | — | 1,260,802 | |||||||||||||||||||||
Other intangible assets, net | — | 1,601,963 | 358,388 | — | 1,960,351 | |||||||||||||||||||||
Other assets | 61,218 | 6,938 | 79 | — | 68,235 | |||||||||||||||||||||
Intercompany loan receivable | 2,480,760 | 1,062,900 | 29,082 | (3,572,742 | ) | — | ||||||||||||||||||||
Investments in subsidiaries | 2,180,814 | — | — | (2,180,814 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total assets | $ | 4,946,342 | $ | 4,565,976 | $ | 1,349,103 | $ | (5,788,105 | ) | $ | 5,073,316 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Liabilities and Stockholder's Equity | ||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||
Current portion of long-term debt | $ | — | $ | — | $ | 376 | $ | — | $ | 376 | ||||||||||||||||
Accounts payable | — | 195,712 | 63,348 | — | 259,060 | |||||||||||||||||||||
Intercompany | — | 34,549 | — | (34,549 | ) | — | ||||||||||||||||||||
Accrued expenses and other current liabilities | 38,407 | 109,865 | 71,494 | — | 219,766 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total current liabilities | 38,407 | 340,126 | 135,218 | (34,549 | ) | 479,202 | ||||||||||||||||||||
Intercompany loan payable | 1,091,982 | 2,157,500 | 323,260 | (3,572,742 | ) | — | ||||||||||||||||||||
Long-term debt, net of current portion | 2,157,500 | — | 905 | — | 2,158,405 | |||||||||||||||||||||
Deferred income taxes | 14,151 | 637,726 | 99,542 | — | 751,419 | |||||||||||||||||||||
Other liabilities | 19,463 | 14,650 | 25,338 | — | 59,451 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total liabilities | 3,321,503 | 3,150,002 | 584,263 | (3,607,291 | ) | 3,448,477 | ||||||||||||||||||||
Commitments and contingencies | ||||||||||||||||||||||||||
Stockholder's Equity: | ||||||||||||||||||||||||||
Common stock | — | — | — | — | — | |||||||||||||||||||||
Capital in excess of par | 1,556,926 | 1,211,581 | 733,411 | (1,944,992 | ) | 1,556,926 | ||||||||||||||||||||
Retained earnings | 81,497 | 208,295 | 30,198 | (238,493 | ) | 81,497 | ||||||||||||||||||||
Accumulated other comprehensive income (loss) | (13,584 | ) | (3,902 | ) | 1,231 | 2,671 | (13,584 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total stockholder's equity | 1,624,839 | 1,415,974 | 764,840 | (2,180,814 | ) | 1,624,839 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total liabilities and stockholder's equity | $ | 4,946,342 | $ | 4,565,976 | $ | 1,349,103 | $ | (5,788,105 | ) | $ | 5,073,316 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | ||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Net sales | $ | — | $ | 514,810 | $ | 289,468 | $ | (25,252 | ) | $ | 779,026 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | — | 330,923 | 125,410 | (25,252 | ) | 431,081 | ||||||||||||||||||||
Advertising, promotion and catalog | — | 47,709 | 11,074 | — | 58,783 | |||||||||||||||||||||
Selling, general and administrative | 27,813 | 113,790 | 97,291 | — | 238,894 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
27,813 | 492,422 | 233,775 | (25,252 | ) | 728,758 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) from operations | (27,813 | ) | 22,388 | 55,693 | — | 50,268 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other income (expense): | ||||||||||||||||||||||||||
Intercompany interest | 39,121 | (34,204 | ) | (4,917 | ) | — | — | |||||||||||||||||||
Interest | (34,204 | ) | 605 | 513 | — | (33,086 | ) | |||||||||||||||||||
Miscellaneous, net | 95 | (1,653 | ) | (156 | ) | — | (1,714 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
5,012 | (35,252 | ) | (4,560 | ) | — | (34,800 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) before income taxes | (22,801 | ) | (12,864 | ) | 51,133 | — | 15,468 | |||||||||||||||||||
Provision (benefit) for income taxes | 51 | (5,843 | ) | 11,360 | — | 5,568 | ||||||||||||||||||||
Equity in income of subsidiaries | 32,752 | — | — | (32,752 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net income (loss) | $ | 9,900 | $ | (7,021 | ) | $ | 39,773 | $ | (32,752 | ) | $ | 9,900 | ||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||
Foreign currency translation adjustment, net of taxes | (706 | ) | — | (1,486 | ) | 1,486 | (706 | ) | ||||||||||||||||||
Change in fair value of interest rate swaps net of taxes | 684 | 684 | — | (684 | ) | 684 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total other comprehensive income (loss), net of tax | (22 | ) | 684 | (1,486 | ) | 802 | (22 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Comprehensive income (loss) | $ | 9,878 | $ | (6,337 | ) | $ | 38,287 | $ | (31,950 | ) | $ | 9,878 | ||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | ||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Net sales | $ | — | $ | 528,345 | $ | 253,643 | $ | (24,114 | ) | $ | 757,874 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | — | 325,402 | 112,728 | (24,114 | ) | 414,016 | ||||||||||||||||||||
Advertising, promotion and catalog | — | 49,445 | 9,292 | — | 58,737 | |||||||||||||||||||||
Selling, general and administrative | 33,681 | 114,024 | 83,726 | — | 231,431 | |||||||||||||||||||||
Facility restructuring charge | — | 30,200 | 30,200 | |||||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
33,681 | 519,071 | 205,746 | (24,114 | ) | 734,384 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) from operations | (33,681 | ) | 9,274 | 47,897 | — | 23,490 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other income (expense): | ||||||||||||||||||||||||||
Intercompany interest | 44,055 | (41,668 | ) | (2,387 | ) | — | — | |||||||||||||||||||
Interest | (41,668 | ) | — | 152 | — | (41,516 | ) | |||||||||||||||||||
Miscellaneous, net | (217 | ) | 775 | (582 | ) | — | (24 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
2,170 | (40,893 | ) | (2,817 | ) | — | (41,540 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) before income taxes | (31,511 | ) | (31,619 | ) | 45,080 | — | (18,050 | ) | ||||||||||||||||||
Provision (benefit) for income taxes | (7,954 | ) | (12,343 | ) | 12,648 | — | (7,649 | ) | ||||||||||||||||||
Equity in income of subsidiaries | 13,156 | — | — | (13,156 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net income (loss) | $ | (10,401 | ) | $ | (19,276 | ) | $ | 32,432 | $ | (13,156 | ) | $ | (10,401 | ) | ||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||
Foreign currency translation adjustment, net of taxes | (41,085 | ) | — | (35,268 | ) | 35,268 | (41,085 | ) | ||||||||||||||||||
Change in fair value of interest rate swaps net of taxes | 953 | 953 | — | (953 | ) | 953 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total other comprehensive income (loss), net of tax | (40,132 | ) | 953 | (35,268 | ) | 34,315 | (40,132 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Comprehensive income (loss) | $ | (50,533 | ) | $ | (18,323 | ) | $ | (2,836 | ) | $ | 21,159 | $ | (50,533 | ) | ||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | ||||||||||||||||||||||||||
Six Months Ended March 31, 2014 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Net sales | $ | — | $ | 1,085,876 | $ | 574,609 | $ | (54,354 | ) | $ | 1,606,131 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | — | 672,791 | 254,362 | (54,354 | ) | 872,799 | ||||||||||||||||||||
Advertising, promotion and catalog | — | 76,823 | 20,482 | — | 97,305 | |||||||||||||||||||||
Selling, general and administrative | 50,085 | 230,670 | 190,822 | — | 471,577 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
50,085 | 980,284 | 465,666 | (54,354 | ) | 1,441,681 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) from operations | (50,085 | ) | 105,592 | 108,943 | — | 164,450 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other income (expense): | ||||||||||||||||||||||||||
Intercompany interest | 78,829 | (69,002 | ) | (9,827 | ) | — | — | |||||||||||||||||||
Interest | (69,002 | ) | 605 | 493 | — | (67,904 | ) | |||||||||||||||||||
Miscellaneous, net | 1,005 | (701 | ) | (1,029 | ) | — | (725 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
10,832 | (69,098 | ) | (10,363 | ) | — | (68,629 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) before income taxes | (39,253 | ) | 36,494 | 98,580 | — | 95,821 | ||||||||||||||||||||
Provision (benefit) for income taxes | (5,318 | ) | 12,773 | 24,645 | — | 32,100 | ||||||||||||||||||||
Equity in income of subsidiaries | 97,656 | — | — | (97,656 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net income (loss) | $ | 63,721 | $ | 23,721 | $ | 73,935 | $ | (97,656 | ) | $ | 63,721 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||
Foreign currency translation adjustment, net of taxes | 11,489 | — | 8,429 | (8,429 | ) | 11,489 | ||||||||||||||||||||
Change in fair value of interest rate swaps net of taxes | 1,769 | 1,769 | — | (1,769 | ) | 1,769 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total other comprehensive income (loss), net of tax | 13,258 | 1,769 | 8,429 | (10,198 | ) | 13,258 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Comprehensive income (loss) | $ | 76,979 | $ | 25,490 | $ | 82,364 | $ | (107,854 | ) | $ | 76,979 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | ||||||||||||||||||||||||||
Six Months Ended March 31, 2013 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Net sales | $ | — | $ | 1,091,915 | $ | 504,984 | $ | (49,798 | ) | $ | 1,547,101 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | — | 667,875 | 224,687 | (49,798 | ) | 842,764 | ||||||||||||||||||||
Advertising, promotion and catalog | — | 78,161 | 16,421 | — | 94,582 | |||||||||||||||||||||
Selling, general and administrative | 56,518 | 223,906 | 170,516 | — | 450,940 | |||||||||||||||||||||
Merger expenses | — | 30,200 | 30,200 | |||||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
56,518 | 1,000,142 | 411,624 | (49,798 | ) | 1,418,486 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) from operations | (56,518 | ) | 91,773 | 93,360 | — | 128,615 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other income (expense): | ||||||||||||||||||||||||||
Intercompany interest | 83,803 | (78,891 | ) | (4,912 | ) | — | — | |||||||||||||||||||
Interest | (78,891 | ) | — | 243 | — | (78,648 | ) | |||||||||||||||||||
Miscellaneous, net | (144 | ) | 2,872 | (2,304 | ) | — | 424 | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
4,768 | (76,019 | ) | (6,973 | ) | — | (78,224 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) before income taxes | (51,750 | ) | 15,754 | 86,387 | — | 50,391 | ||||||||||||||||||||
Provision (benefit) for income taxes | (14,081 | ) | 5,514 | 24,188 | — | 15,621 | ||||||||||||||||||||
Equity in income of subsidiaries | 72,439 | — | — | (72,439 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net income (loss) | $ | 34,770 | $ | 10,240 | $ | 62,199 | $ | (72,439 | ) | $ | 34,770 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||
Foreign currency translation adjustment, net of taxes | (42,364 | ) | — | (32,465 | ) | 32,465 | (42,364 | ) | ||||||||||||||||||
Change in fair value of interest rate swaps net of taxes | 2,261 | 2,261 | — | (2,261 | ) | 2,261 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total other comprehensive income (loss), net of tax | (40,103 | ) | 2,261 | (32,465 | ) | 30,204 | (40,103 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Comprehensive income (loss) | $ | (5,333 | ) | $ | 12,501 | $ | 29,734 | $ | (42,235 | ) | $ | (5,333 | ) | |||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||
Six Months Ended March 31, 2014 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Cash (used in) provided by operating activities | $ | (11,110 | ) | $ | 9,042 | $ | 16,702 | $ | (16,703 | ) | $ | (2,069 | ) | |||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||
Purchase of property, plant and equipment | (2,338 | ) | (29,864 | ) | (15,042 | ) | — | (47,244 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash used in investing activities | (2,338 | ) | (29,864 | ) | (15,042 | ) | — | (47,244 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||
Principal payments under long-term agreements | — | — | (215 | ) | — | (215 | ) | |||||||||||||||||||
Dividends paid | (21,313 | ) | (5,835 | ) | (5,835 | ) | 11,670 | (21,313 | ) | |||||||||||||||||
Intercompany accounts | 8,700 | (8,700 | ) | — | — | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash (used in) provided by financing activities | (12,613 | ) | (14,535 | ) | (6,050 | ) | 11,670 | (21,528 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Effect of exchange rate changes on cash | — | — | 1,213 | — | 1,213 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net decrease in cash and cash equivalents | (26,061 | ) | (35,357 | ) | (3,177 | ) | (5,033 | ) | (69,628 | ) | ||||||||||||||||
Cash and cash equivalents at beginning of period | 81,356 | 35,357 | 81,848 | — | 198,561 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash and cash equivalents at end of period | $ | 55,295 | $ | — | $ | 78,671 | $ | (5,033 | ) | $ | 128,933 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||
Six Months Ended March 31, 2013 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Cash provided by operating activities | $ | 14,509 | $ | 184,619 | $ | 47,791 | $ | (104,832 | ) | $ | 142,087 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||
Purchase of property, plant and equipment | (18,140 | ) | (29,983 | ) | (15,569 | ) | — | (63,692 | ) | |||||||||||||||||
Proceeds from sale of building | 7,548 | — | — | — | 7,548 | |||||||||||||||||||||
Cash paid for acquisitions, net of cash acquired | (78,089 | ) | — | (461 | ) | — | (78,550 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash used in investing activities | (88,681 | ) | (29,983 | ) | (16,030 | ) | — | (134,694 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||
Proceeds from borrowings under the revolver | 80,000 | — | — | — | 80,000 | |||||||||||||||||||||
Paydowns of debt under the revolver | (55,000 | ) | — | — | — | (55,000 | ) | |||||||||||||||||||
Payments for financing fees | (7,387 | ) | — | — | — | (7,387 | ) | |||||||||||||||||||
Dividends paid | (193,956 | ) | (52,416 | ) | (52,416 | ) | 104,832 | (193,956 | ) | |||||||||||||||||
Intercompany | 114,067 | (114,067 | ) | — | — | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash (used in) provided by financing activities | (62,276 | ) | (166,483 | ) | (52,416 | ) | 104,832 | (176,343 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | (4,110 | ) | — | (4,110 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net decrease in cash and cash equivalents | (136,448 | ) | (11,847 | ) | (24,765 | ) | — | (173,060 | ) | |||||||||||||||||
Cash and cash equivalents at beginning of period | 183,661 | 14,589 | 116,886 | — | 315,136 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash and cash equivalents at end of period | $ | 47,213 | $ | 2,742 | $ | 92,121 | $ | — | $ | 142,076 | ||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
The table below presents, for each line item of the Condensed Financial Statements as of September 30, 2013 and for the three and six months ended March 31, 2013 that we corrected, a comparison of the revised balance with the originally reported balance. | ||||||||||||||||||||||||||
Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | |||||||||||||||||||||||
($ in millions) | As Reported | As Revised | As Reported | As Revised | As Reported | As Revised | As Reported | As Revised | ||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||
Intercompany | $ | 857.7 | $ | 34.5 | $ | — | $ | — | $ | 264.1 | $ | — | $ | (1,121.8 | ) | $ | (34.5 | ) | ||||||||
Other current assets | $ | — | $ | 19 | $ | 43.1 | $ | 24.1 | $ | 35.4 | $ | 35.4 | $ | — | $ | — | ||||||||||
Total current assets | $ | 939 | $ | 134.9 | $ | 790.7 | $ | 771.6 | $ | 604.4 | $ | 340.4 | $ | (1,121.8 | ) | $ | (34.5 | ) | ||||||||
Other assets | $ | — | $ | 61.2 | $ | 68.2 | $ | 6.9 | $ | 0.1 | $ | 0.1 | $ | — | $ | — | ||||||||||
Intercompany | $ | 323.3 | $ | 2,480.80 | $ | — | $ | 1,062.90 | $ | — | $ | 29.1 | $ | (323.3 | ) | $ | (3,572.7 | ) | ||||||||
Investments in subsidiaries | $ | 3,211.10 | $ | 2,180.80 | $ | — | $ | — | $ | — | $ | — | $ | (3,211.1 | ) | $ | (2,180.8 | ) | ||||||||
Total assets | $ | 4,562.00 | $ | 4,946.30 | $ | 3,583.30 | $ | 4,566.00 | $ | 1,584.10 | $ | 1,349.10 | $ | (4,656.1 | ) | $ | (5,788.1 | ) | ||||||||
Liabilities and Stockholder's Equity | ||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||
Intercompany | $ | — | $ | — | $ | 1,121.80 | $ | 34.5 | $ | — | $ | — | $ | (1,121.8 | ) | $ | (34.5 | ) | ||||||||
Total current liabilities | $ | 38.4 | $ | 38.4 | $ | 1,424.30 | $ | 340.1 | $ | 135.2 | $ | 135.2 | $ | (1,121.8 | ) | $ | (34.5 | ) | ||||||||
Intercompany | $ | — | $ | 1,092.20 | $ | — | $ | 2,157.50 | $ | 323.3 | $ | 323.3 | $ | (323.3 | ) | $ | (3,572.7 | ) | ||||||||
Deferred income taxes | $ | 721.8 | $ | 14.2 | $ | 22 | $ | 637.7 | $ | 7.5 | $ | 99.5 | $ | — | $ | — | ||||||||||
Total liabilities | $ | 2,937.20 | $ | 3,321.50 | $ | 1,464.00 | $ | 3,150.00 | $ | 492.3 | $ | 584.3 | $ | (1,445.0 | ) | $ | (3,607.3 | ) | ||||||||
Stockholder's Equity: | ||||||||||||||||||||||||||
Capital in excess of par | $ | 1,556.90 | $ | 1,556.90 | $ | 352 | $ | 1,211.60 | $ | 301.3 | $ | 733.4 | $ | (653.3 | ) | $ | (1,945.0 | ) | ||||||||
Retained earnings | $ | 81.5 | $ | 81.5 | $ | 1,767.30 | $ | 208.3 | $ | 789.3 | $ | 30.2 | $ | (2,556.6 | ) | $ | (238.5 | ) | ||||||||
Accumulated other comprehensive income (loss) | $ | (13.6 | ) | $ | (13.6 | ) | $ | — | $ | (3.9 | ) | $ | 1.2 | $ | 1.2 | $ | (1.2 | ) | $ | 2.7 | ||||||
Total stockholder's equity | $ | 1,624.80 | $ | 1,624.80 | $ | 2,119.30 | $ | 1,416.00 | $ | 1,091.80 | $ | 764.8 | $ | (3,211.1 | ) | $ | (2,180.8 | ) | ||||||||
Total liabilities and stockholder's equity | $ | 4,562.00 | $ | 4,946.30 | $ | 3,583.30 | $ | 4,566.00 | $ | 1,584.10 | $ | 1,349.10 | $ | (4,656.1 | ) | $ | (5,788.1 | ) | ||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2013 | ||||||||||||||||||||||||||
Selling, general and administrative | $ | 63.9 | $ | 33.7 | $ | 83.8 | $ | 114 | $ | 83.7 | $ | 83.7 | $ | — | $ | — | ||||||||||
Income (loss) from operations | $ | (63.9 | ) | $ | (33.7 | ) | $ | 39.5 | $ | 9.3 | $ | 47.9 | $ | 47.9 | $ | — | $ | — | ||||||||
Intercompany interest | $ | 2.4 | $ | 44.1 | $ | — | $ | (41.7 | ) | $ | (2.4 | ) | $ | (2.4 | ) | $ | — | $ | — | |||||||
Total other income (expense) | $ | (39.5 | ) | $ | 2.2 | $ | 0.8 | $ | (40.9 | ) | $ | (2.8 | ) | $ | (2.8 | ) | $ | — | $ | — | ||||||
Income (loss) before income taxes | $ | (103.4 | ) | $ | (31.5 | ) | $ | 40.2 | $ | (31.6 | ) | $ | 45.1 | $ | 45.1 | $ | — | $ | — | |||||||
Provision (benefit) for income taxes | $ | (34.4 | ) | $ | (8.0 | ) | $ | 14.1 | $ | (12.3 | ) | $ | 12.6 | $ | 12.6 | $ | — | $ | — | |||||||
Equity in income of subsidiaries | $ | 58.6 | $ | 13.2 | $ | — | $ | — | $ | — | $ | — | $ | (58.6 | ) | $ | (13.2 | ) | ||||||||
Net income (loss) | $ | (10.4 | ) | $ | (10.4 | ) | $ | 26.2 | $ | (19.3 | ) | $ | 32.5 | $ | 32.4 | $ | (58.6 | ) | $ | (13.2 | ) | |||||
Foreign currency translation adjustment, net of taxes | $ | — | $ | (41.1 | ) | $ | — | $ | — | $ | (53.6 | ) | $ | (35.3 | ) | $ | — | $ | 35.3 | |||||||
Change in fair value of interest rate swaps, net of taxes | $ | 13.5 | $ | 1 | $ | — | $ | 1 | $ | — | $ | — | $ | — | $ | (1.0 | ) | |||||||||
Comprehensive income (loss) | $ | 3.1 | $ | (50.5 | ) | $ | 26.2 | $ | (18.3 | ) | $ | (21.2 | ) | $ | (2.8 | ) | $ | (58.6 | ) | $ | 21.2 | |||||
Consolidated Statements of Operations and Comprehensive Income (Loss) for the six months ended March 31, 2013 | ||||||||||||||||||||||||||
Selling, general and administrative | $ | 86.7 | $ | 56.5 | $ | 193.7 | $ | 223.9 | $ | 170.5 | $ | 170.5 | $ | — | $ | — | ||||||||||
Income (loss) from operations | $ | (86.7 | ) | $ | (56.5 | ) | $ | 122 | $ | 91.8 | $ | 93.4 | $ | 93.4 | $ | — | $ | — | ||||||||
Intercompany interest | $ | 4.9 | $ | 83.8 | $ | — | $ | (78.9 | ) | $ | (4.9 | ) | $ | (4.9 | ) | $ | — | $ | — | |||||||
Total other income (expense) | $ | (74.1 | ) | $ | 4.8 | $ | 2.9 | $ | (76.0 | ) | $ | (7.0 | ) | $ | (7.0 | ) | $ | — | $ | — | ||||||
Income (loss) before income taxes | $ | (160.8 | ) | $ | (51.8 | ) | $ | 124.8 | $ | 15.8 | $ | 86.4 | $ | 86.4 | $ | — | $ | — | ||||||||
Provision (benefit) for income taxes | $ | (52.3 | ) | $ | (14.1 | ) | $ | 43.7 | $ | 5.5 | $ | 24.2 | $ | 24.2 | $ | — | $ | — | ||||||||
Equity in income of subsidiaries | $ | 143.3 | $ | 72.4 | $ | — | $ | — | $ | — | $ | — | $ | (143.3 | ) | $ | (72.4 | ) | ||||||||
Net income (loss) | $ | 34.8 | $ | 34.8 | $ | 81.1 | $ | 10.2 | $ | 62.2 | $ | 62.2 | $ | (143.3 | ) | $ | (72.4 | ) | ||||||||
Foreign currency translation adjustment, net of taxes | $ | — | $ | (42.4 | ) | $ | — | $ | — | $ | (54.3 | ) | $ | (32.5 | ) | $ | — | $ | 32.5 | |||||||
Change in fair value of interest rate swaps, net of taxes | $ | 14.2 | $ | 2.3 | $ | — | $ | 2.3 | $ | — | $ | — | $ | — | $ | (2.3 | ) | |||||||||
Comprehensive income (loss) | $ | 49 | $ | (5.3 | ) | $ | 81.1 | $ | 12.5 | $ | 7.9 | $ | 29.7 | $ | (143.3 | ) | $ | (42.2 | ) | |||||||
Statement of cash flows for the six months ended March 31, 2013 | ||||||||||||||||||||||||||
Cash provided by (used in) operating activities | $ | 128.6 | $ | 14.5 | $ | 18.6 | $ | 132.2 | $ | (5.1 | ) | $ | 47.8 | $ | — | $ | (52.4 | ) | ||||||||
Cash paid for acquisitions, net of cash acquired | $ | (78.1 | ) | $ | (78.1 | ) | $ | (0.5 | ) | $ | — | $ | — | $ | (0.5 | ) | $ | — | $ | — | ||||||
Cash used in investing activities | $ | (88.7 | ) | $ | (88.7 | ) | $ | (30.4 | ) | $ | (30.0 | ) | $ | (15.6 | ) | $ | (16.0 | ) | $ | — | $ | — | ||||
Dividends paid | $ | (194.0 | ) | $ | (194.0 | ) | $ | — | $ | — | $ | — | $ | (52.4 | ) | $ | — | $ | 52.4 | |||||||
Cash used in financing activities | $ | (176.3 | ) | $ | (62.3 | ) | $ | — | $ | (114.1 | ) | $ | — | $ | (52.4 | ) | $ | — | $ | 52.4 |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Basis of Presentation | ' | |||||||
Estimates | ' | |||||||
Estimates | ||||||||
The preparation of financial statements in conformity with GAAP requires that we make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent assets and liabilities at the dates of the financial statements and reported amounts of revenues and expenses during the reporting periods. These judgments can be subjective and complex, and consequently actual results could differ materially from those estimates and assumptions. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Our most significant estimates include: sales returns, promotions and other allowances; inventory valuation and obsolescence; valuation and recoverability of long-lived assets, including goodwill; stock-based compensation; income taxes and accruals for the outcome of litigation. | ||||||||
Accounts Receivable Reserves | ' | |||||||
Accounts Receivable Reserves | ||||||||
Accounts receivable are presented net of the following reserves: | ||||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Allowance for sales returns | $ | 12,710 | $ | 13,549 | ||||
Promotional program incentive allowances | 85,380 | 82,827 | ||||||
Allowance for doubtful accounts | 3,705 | 2,472 | ||||||
| | | | | | | | |
$ | 101,795 | $ | 98,848 | |||||
| | | | | | | | |
| | | | | | | | |
Recent Accounting Developments | ' | |||||||
Recent Accounting Developments | ||||||||
In February 2013, the Financial Accounting Standards Board ("FASB") issued guidance on disclosure requirements for items reclassified out of Accumulated Other Comprehensive Income ("AOCI"). This new guidance requires entities to present (either on the face of the income statement or in the notes hereto) the effects on the line items of the income statement for amounts reclassified out of AOCI. The new guidance became effective for us beginning October 1, 2013. See Note 10, "Accumulated Other Comprehensive Income (loss)" and the Consolidated Statements of Operations and Comprehensive Income (Loss). | ||||||||
In March 2013, the FASB issued guidance on a parent's accounting for the cumulative translation adjustment upon derecognition of a subsidiary or group of assets within a foreign entity. This new guidance requires that the parent release any related cumulative translation adjustment into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. The new guidance will be effective for us beginning on October 1, 2014. The adoption of this guidance is not expected to have a material impact on the Company's financial statements. | ||||||||
In July 2013, the FASB issued guidance which amends the guidance related to the presentation of unrecognized tax benefits and allows for the reduction of a deferred tax asset for a net operating loss carryforward whenever the net operating loss carryforward or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. This guidance is effective for annual and interim periods for fiscal years beginning after December 15, 2013, and early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's financial statements. | ||||||||
In April 2014, the FASB issued revised guidance to reduce diversity in practice for reporting discontinued operations. The revised guidance only allows disposals of components of an entity that represent a strategic shift (e.g., disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity) and that have a major effect on a reporting entity's operations and financial results to be reported as discontinued operations. The revised guidance also requires expanded disclosure in the financial statements for discontinued operations as well as for disposals of significant components of an entity that do not qualify for discontinued operations presentation. The revised guidance is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's financial statements. | ||||||||
Revision | ' | |||||||
Revision | ||||||||
A revision was made to prior year's Statements of Operations and Comprehensive Income (Loss) to correct the prior year presentation, whereby changes in the fair value of the cross-currency swaps were reclassified from Changes in the fair value of interest rate swaps to Foreign currency translation adjustments. | ||||||||
Basis_of_Presentation_Tables
Basis of Presentation (Tables) | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Basis of Presentation | ' | |||||||
Schedule of accounts receivable reserves | ' | |||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Allowance for sales returns | $ | 12,710 | $ | 13,549 | ||||
Promotional program incentive allowances | 85,380 | 82,827 | ||||||
Allowance for doubtful accounts | 3,705 | 2,472 | ||||||
| | | | | | | | |
$ | 101,795 | $ | 98,848 | |||||
| | | | | | | | |
| | | | | | | | |
Facility_Restructuring_Charge_
Facility Restructuring Charge (Tables) | 6 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Facility Restructuring Charge | ' | ||||||||||
Summary of restructuring cash charges recorded and reconciliation of these charges to accrued expenses | ' | ||||||||||
Workforce | Facility | Total | |||||||||
Reductions | Costs | ||||||||||
Restructuring accrual—October 1, 2013 | $ | 12,436 | $ | 2,649 | $ | 15,085 | |||||
Cash payments | (6,678 | ) | (1,369 | ) | (8,047 | ) | |||||
Other | — | (509 | ) | (509 | ) | ||||||
| | | | | | | | | | | |
Restructuring accrual—March 31, 2014 | $ | 5,758 | $ | 771 | $ | 6,529 | |||||
| | | | | | | | | | | |
| | | | | | | | | | | |
Inventories_Tables
Inventories (Tables) | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Inventories | ' | |||||||
Schedule of components of inventories | ' | |||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Raw materials | $ | 243,684 | $ | 195,713 | ||||
Work-in-process | 20,349 | 25,068 | ||||||
Finished goods | 608,474 | 519,171 | ||||||
| | | | | | | | |
Total | $ | 872,507 | $ | 739,952 | ||||
| | | | | | | | |
| | | | | | | | |
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||
Schedule of change in carrying amount of goodwill by segment | ' | ||||||||||||||||
Wholesale | European | Direct | North | Consolidated | |||||||||||||
Retail | Response / | American | |||||||||||||||
E-Commerce | Retail | ||||||||||||||||
Balance at September 30, 2013 | $ | 645,220 | $ | 324,853 | $ | 264,985 | $ | 25,744 | $ | 1,260,802 | |||||||
Purchase price adjustments | — | 517 | — | — | 517 | ||||||||||||
Foreign currency translation | (4,154 | ) | 8,860 | — | — | 4,706 | |||||||||||
| | | | | | | | | | | | | | | | | |
Balance at March 31, 2014 | $ | 641,066 | $ | 334,230 | $ | 264,985 | $ | 25,744 | $ | 1,266,025 | |||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Schedule of carrying amounts of acquired other intangible assets | ' | ||||||||||||||||
March 31, 2014 | September 30, 2013 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | Amortization | |||||||||||||
carrying | amortization | carrying | amortization | period | |||||||||||||
amount | amount | (years) | |||||||||||||||
Definite lived intangible assets: | |||||||||||||||||
Brands and customer relationships | $ | 913,483 | $ | 136,126 | $ | 913,971 | $ | 116,330 | 17 - 25 | ||||||||
Tradenames and other | 178,065 | 19,994 | 177,903 | 16,677 | 20 - 30 | ||||||||||||
| | | | | | | | | | | | | | | | | |
1,091,548 | 156,120 | 1,091,874 | 133,007 | ||||||||||||||
Indefinite lived intangible assets: | |||||||||||||||||
Tradenames | 1,009,792 | — | 1,001,484 | — | |||||||||||||
| | | | | | | | | | | | | | | | | |
Total intangible assets | $ | 2,101,340 | $ | 156,120 | $ | 2,093,358 | $ | 133,007 | |||||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Long-Term Debt | ' | |||||||
Schedule of components of long-term debt | ' | |||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Senior Credit Facilities: | ||||||||
Term loan B-2 | $ | 1,507,500 | $ | 1,507,500 | ||||
Notes | 650,000 | 650,000 | ||||||
Other | 1,089 | 1,281 | ||||||
| | | | | | | | |
2,158,589 | 2,158,781 | |||||||
Less: current portion | (311 | ) | (376 | ) | ||||
| | | | | | | | |
Total | $ | 2,158,278 | $ | 2,158,405 | ||||
| | | | | | | | |
| | | | | | | | |
Schedule of redemption prices of Notes | ' | |||||||
Period | Redemption | |||||||
Price | ||||||||
2014 | 104.5 | % | ||||||
2015 | 102.25 | % | ||||||
2016 and thereafter | 100 | % |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 6 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||
Summary of liabilities measured at fair value on a recurring basis | ' | |||||||||||||
The following table summarizes liabilities measured at fair value on a recurring basis at March 31, 2014: | ||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||
Current: | ||||||||||||||
Interest rate swaps (included in accrued expenses and other current liabilities) | $ | — | $ | (3,441 | ) | $ | — | |||||||
Cross currency swaps (included in accrued expenses and other current liabilities) | $ | — | $ | — | $ | (4,330 | ) | |||||||
Non-current: | ||||||||||||||
Cross currency swaps (included in other liabilities) | $ | — | $ | — | $ | (24,891 | ) | |||||||
The following table summarizes liabilities measured at fair value on a recurring basis at September 30, 2013: | ||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||
Current: | ||||||||||||||
Interest rate swaps (included in accrued expenses and other current liabilities) | $ | — | $ | (5,268 | ) | $ | — | |||||||
Cross currency swaps (included in accrued expenses and other current liabilities) | $ | — | $ | — | $ | (3,855 | ) | |||||||
Non-current: | ||||||||||||||
Interest rate swaps (included in other liabilities) | $ | — | $ | (1,066 | ) | $ | — | |||||||
Cross currency swaps (included in other liabilities) | $ | — | $ | — | $ | (18,399 | ) | |||||||
Schedule of the Level 3 activity related to cross currency swaps | ' | |||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||
March 31, | March 31, | March 31, | March 31, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Beginning balance: | $ | (27,359 | ) | $ | (25,877 | ) | $ | (22,254 | ) | $ | (24,862 | ) | ||
Unrealized loss on cross currency swaps | (1,862 | ) | 19,750 | (6,967 | ) | 18,735 | ||||||||
| | | | | | | | | | | | | | |
Ending balance: | $ | (29,221 | ) | $ | (6,127 | ) | $ | (29,221 | ) | $ | (6,127 | ) | ||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Schedule of net of tax impact of derivative instruments designated as cash flow and net investment hedging instruments | ' | |||||||||||||
Three Months Ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Amount of | Amount of | Amount of | Amount of Gain | |||||||||||
Gain or (Loss) | Gain or (Loss) | Gain or (Loss) | or (Loss) | |||||||||||
Recognized in | Reclassified from | Recognized in | Reclassified from | |||||||||||
Accumulated | Accumulated | Accumulated | Accumulated | |||||||||||
OCI on | OCI into | OCI on | OCI into | |||||||||||
Derivative | Income | Derivative | Income | |||||||||||
(Effective Portion) | (Effective Portion) | (Effective Portion) | (Effective Portion) | |||||||||||
Cash Flow Hedges: | ||||||||||||||
Interest rate swaps | $ | (463 | ) | $ | (1,147 | ) | $ | (882 | ) | $ | (1,835 | ) | ||
Net Investment Hedges: | ||||||||||||||
Cross currency swaps | (1,090 | ) | — | 12,529 | — | |||||||||
| | | | | | | | | | | | | | |
Total | $ | (1,553 | ) | $ | (1,147 | ) | $ | 11,647 | $ | (1,835 | ) | |||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Six Months Ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Amount of | Amount of | Amount of | Amount of | |||||||||||
Gain or (Loss) | Gain or (Loss) | Gain or (Loss) | Gain or (Loss) | |||||||||||
Recognized in | Reclassified from | Recognized in | Reclassified from | |||||||||||
Accumulated | Accumulated | Accumulated | Accumulated | |||||||||||
OCI on | OCI into | OCI on | OCI into | |||||||||||
Derivative | Income | Derivative | Income | |||||||||||
(Effective Portion) | (Effective Portion) | (Effective Portion) | (Effective Portion) | |||||||||||
Cash Flow Hedges: | ||||||||||||||
Interest rate swaps | $ | (1,245 | ) | $ | (3,014 | ) | $ | (1,913 | ) | $ | (4,174 | ) | ||
Net Investment Hedges: | ||||||||||||||
Cross currency swaps | (5,244 | ) | — | 11,945 | — | |||||||||
| | | | | | | | | | | | | | |
Total | $ | (6,489 | ) | $ | (3,014 | ) | $ | 10,032 | $ | (4,174 | ) | |||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||
Schedule of additions to and reclassifications out of accumulated other comprehensive income (loss) | ' | ||||||||||
Three Months Ended March 31, 2014(1) | |||||||||||
Foreign currency | Gains and losses | Total | |||||||||
translation | on cash flow | ||||||||||
adjustments | hedges | ||||||||||
Balance at December 31, 2013 | $ | 2,514 | $ | (2,817 | ) | $ | (303 | ) | |||
Other comprehensive income (loss) before reclassifications | (705 | ) | (462 | ) | (1,167 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss)(2) | — | 1,146 | 1,146 | ||||||||
| | | | | | | | | | | |
Balance at March 31, 2014 | $ | 1,809 | $ | (2,133 | ) | $ | (324 | ) | |||
| | | | | | | | | | | |
| | | | | | | | | | | |
Three Months Ended March 31, 2013(1) | |||||||||||
Foreign currency | Gains and losses | Total | |||||||||
translation | on cash flow | ||||||||||
adjustments | hedges | ||||||||||
Balance at December 31, 2012 | $ | (11,567 | ) | $ | (6,998 | ) | $ | (18,565 | ) | ||
Other comprehensive income (loss) before reclassifications | (41,085 | ) | (882 | ) | (41,967 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss)(2) | — | 1,835 | 1,835 | ||||||||
| | | | | | | | | | | |
Balance at March 31, 2013 | $ | (52,652 | ) | $ | (6,045 | ) | $ | (58,697 | ) | ||
| | | | | | | | | | | |
| | | | | | | | | | | |
-1 | |||||||||||
All amounts are net of tax, amounts in parentheses indicate debits. | |||||||||||
-2 | |||||||||||
These (gains) losses are reclassified into Interest expense. See Note 7, Fair Value of Financial Instruments. | |||||||||||
Six Months Ended March 31, 2014(1) | |||||||||||
Foreign currency | Gains and losses | Total | |||||||||
translation | on cash flow | ||||||||||
adjustments | hedges | ||||||||||
Balance at September 30, 2013 | $ | (9,680 | ) | $ | (3,902 | ) | $ | (13,582 | ) | ||
Other comprehensive income (loss) before reclassifications | 11,489 | (1,245 | ) | 10,244 | |||||||
Amounts reclassified from accumulated other comprehensive income (loss)(2) | — | 3,014 | 3,014 | ||||||||
| | | | | | | | | | | |
Balance at March 31, 2014 | $ | 1,809 | $ | (2,133 | ) | $ | (324 | ) | |||
| | | | | | | | | | | |
| | | | | | | | | | | |
Six Months Ended March 31, 2013(1) | |||||||||||
Foreign currency | Gains and losses | Total | |||||||||
translation | on cash flow | ||||||||||
adjustments | hedges | ||||||||||
Balance at September 30, 2012 | $ | (10,288 | ) | $ | (8,306 | ) | $ | (18,594 | ) | ||
Other comprehensive income (loss) before reclassifications | (42,364 | ) | (1,913 | ) | (44,277 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss)(2) | — | 4,174 | 4,174 | ||||||||
| | | | | | | | | | | |
Balance at March 31, 2013 | $ | (52,652 | ) | $ | (6,045 | ) | $ | (58,697 | ) | ||
| | | | | | | | | | | |
| | | | | | | | | | | |
-1 | |||||||||||
All amounts are net of tax, amounts in parentheses indicate debits. | |||||||||||
-2 | |||||||||||
These (gains) losses are reclassified into Interest expense. See Note 7, Fair Value of Financial Instruments. | |||||||||||
Business_and_Credit_Concentrat1
Business and Credit Concentration (Tables) | 6 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Net sales | ' | |||||||||||||
Business and Credit Concentration | ' | |||||||||||||
Schedule of specified customers percentages accounted for | ' | |||||||||||||
Wholesale | Total | |||||||||||||
Segment | Consolidated | |||||||||||||
Net Sales | Net Sales | |||||||||||||
Three Months | Three Months | |||||||||||||
Ended | Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Customer A | 21 | % | 22 | % | 12 | % | 13 | % | ||||||
Customer B | 8 | % | 10 | % | 5 | % | 6 | % | ||||||
Wholesale | Total | |||||||||||||
Segment | Consolidated | |||||||||||||
Net Sales | Net Sales | |||||||||||||
Six Months | Six Months | |||||||||||||
Ended | Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Customer A | 20 | % | 22 | % | 12 | % | 14 | % | ||||||
Customer B | 13 | % | 10 | % | 8 | % | 6 | % | ||||||
Customer C | 9 | % | 11 | % | 5 | % | 7 | % | ||||||
Gross accounts receivable | ' | |||||||||||||
Business and Credit Concentration | ' | |||||||||||||
Schedule of specified customers percentages accounted for | ' | |||||||||||||
March 31, | September 30, | |||||||||||||
2014 | 2013 | |||||||||||||
Customer A | 16 | % | 12 | % | ||||||||||
Customer B | 9 | % | 11 | % |
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||
Schedule of financial information of business segments | ' | ||||||||||||||||||||||
Total Reportable Business Segments | |||||||||||||||||||||||
Wholesale | European | Direct | North | Total | Corporate/ | Consolidated | |||||||||||||||||
Retail | Response/E- | American | Manufacturing | ||||||||||||||||||||
Commerce | Retail | ||||||||||||||||||||||
Three Months Ended March 31, 2014: | |||||||||||||||||||||||
Net sales | $ | 443,449 | $ | 215,317 | $ | 63,601 | $ | 56,659 | $ | 779,026 | $ | — | $ | 779,026 | |||||||||
Income (loss) from operations | 19,004 | 49,915 | 7,388 | 1,702 | 78,009 | (27,741 | ) | 50,268 | |||||||||||||||
Depreciation and amortization | 9,081 | 4,133 | 2,833 | 767 | 16,814 | 9,020 | 25,834 | ||||||||||||||||
Capital expenditures | 172 | 9,547 | 113 | 3,957 | 13,789 | 12,208 | 25,997 | ||||||||||||||||
Three Months Ended March 31, 2013: | |||||||||||||||||||||||
Net sales | $ | 445,672 | $ | 187,103 | $ | 63,898 | $ | 61,201 | 757,874 | — | 757,874 | ||||||||||||
Income (loss) from operations | 26,964 | 42,517 | 11,075 | 6,866 | 87,422 | (63,932 | ) | 23,490 | |||||||||||||||
Depreciation and amortization | 10,068 | 3,766 | 2,505 | 613 | 16,952 | 12,327 | 29,279 | ||||||||||||||||
Capital expenditures | 55 | 5,810 | 656 | 668 | 7,189 | 22,985 | 30,174 | ||||||||||||||||
Six Months Ended March 31, 2014: | |||||||||||||||||||||||
Net sales | $ | 948,723 | $ | 420,229 | $ | 123,963 | $ | 113,216 | $ | 1,606,131 | $ | — | $ | 1,606,131 | |||||||||
Income (loss) from operations | 101,732 | 93,875 | 14,363 | 4,494 | 214,464 | (50,014 | ) | 164,450 | |||||||||||||||
Depreciation and amortization | 18,167 | 8,177 | 5,645 | 1,473 | 33,462 | 17,937 | 51,399 | ||||||||||||||||
Capital expenditures | 203 | 14,868 | 682 | 7,590 | 23,343 | 23,901 | 47,244 | ||||||||||||||||
Six Months Ended March 31, 2013: | |||||||||||||||||||||||
Net sales | $ | 939,876 | $ | 366,087 | $ | 122,582 | $ | 118,556 | 1,547,101 | — | 1,547,101 | ||||||||||||
Income (loss) from operations | 96,891 | 82,501 | 23,324 | 12,748 | 215,464 | (86,849 | ) | 128,615 | |||||||||||||||
Depreciation and amortization | 19,697 | 7,509 | 5,009 | 1,243 | 33,458 | 19,212 | 52,670 | ||||||||||||||||
Capital expenditures | 230 | 13,918 | 768 | 1,425 | 16,341 | 47,351 | 63,692 | ||||||||||||||||
Schedule of total assets by segment | ' | ||||||||||||||||||||||
March 31, | September 30, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Reportable Business Segments: | |||||||||||||||||||||||
Wholesale | $ | 2,615,071 | $ | 2,553,857 | |||||||||||||||||||
European Retail | 963,349 | 924,979 | |||||||||||||||||||||
Direct Response / E-Commerce | 688,244 | 692,685 | |||||||||||||||||||||
North American Retail | 123,768 | 119,395 | |||||||||||||||||||||
| | | | | | | | ||||||||||||||||
Total Reportable Business Segments: | 4,390,432 | 4,290,916 | |||||||||||||||||||||
| | | | | | | | ||||||||||||||||
Corporate / Manufacturing | 728,951 | 782,400 | |||||||||||||||||||||
| | | | | | | | ||||||||||||||||
Consolidated assets | $ | 5,119,383 | $ | 5,073,316 | |||||||||||||||||||
| | | | | | | | ||||||||||||||||
| | | | | | | | ||||||||||||||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Statements of Guarantors (Tables) | 6 Months Ended | |||||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||||
Condensed Consolidating Financial Statements of Guarantors | ' | |||||||||||||||||||||||||
Schedule of condensed consolidating balance sheet | ' | |||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 55,295 | $ | — | $ | 78,671 | $ | (5,033 | ) | $ | 128,933 | |||||||||||||||
Accounts receivable, net | — | 120,839 | 46,097 | — | 166,936 | |||||||||||||||||||||
Intercompany | 32,716 | — | 67,856 | (100,572 | ) | — | ||||||||||||||||||||
Inventories | — | 680,303 | 192,204 | — | 872,507 | |||||||||||||||||||||
Deferred income taxes | — | 23,445 | 652 | — | 24,097 | |||||||||||||||||||||
Other current assets | 19,476 | 25,492 | 34,479 | — | 79,447 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total current assets | 107,487 | 850,079 | 419,959 | (105,605 | ) | 1,271,920 | ||||||||||||||||||||
Property, plant and equipment, net | 73,718 | 319,672 | 182,722 | — | 576,112 | |||||||||||||||||||||
Goodwill | — | 813,688 | 452,337 | — | 1,266,025 | |||||||||||||||||||||
Other intangible assets, net | — | 1,580,670 | 364,550 | — | 1,945,220 | |||||||||||||||||||||
Other assets | 51,368 | 8,648 | 90 | — | 60,106 | |||||||||||||||||||||
Intercompany loan receivable | 2,490,442 | 1,025,750 | — | (3,516,192 | ) | — | ||||||||||||||||||||
Investments in subsidiaries | 2,282,832 | — | — | (2,282,832 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total assets | $ | 5,005,847 | $ | 4,598,507 | $ | 1,419,658 | $ | (5,904,629 | ) | $ | 5,119,383 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Liabilities and Stockholder's Equity | ||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||
Current portion of long-term debt | $ | — | $ | — | $ | 311 | $ | — | $ | 311 | ||||||||||||||||
Accounts payable | — | 187,782 | 78,367 | (5,033 | ) | 261,116 | ||||||||||||||||||||
Intercompany | 67,856 | 32,716 | — | (100,572 | ) | — | ||||||||||||||||||||
Accrued expenses and other current liabilities | 37,047 | 125,762 | 40,902 | — | 203,711 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total current liabilities | 104,903 | 346,260 | 119,580 | (105,605 | ) | 465,138 | ||||||||||||||||||||
Intercompany loan payable | 1,021,342 | 2,161,910 | 332,940 | (3,516,192 | ) | — | ||||||||||||||||||||
Long-term debt, net of current portion | 2,157,500 | — | 778 | — | 2,158,278 | |||||||||||||||||||||
Deferred income taxes | 14,151 | 633,316 | 99,547 | — | 747,014 | |||||||||||||||||||||
Other liabilities | 24,888 | 15,557 | 25,445 | — | 65,890 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total liabilities | 3,322,784 | 3,157,043 | 578,290 | (3,621,797 | ) | 3,436,320 | ||||||||||||||||||||
Commitments and contingencies | ||||||||||||||||||||||||||
Stockholder's Equity: | ||||||||||||||||||||||||||
Common stock | — | — | — | — | — | |||||||||||||||||||||
Capital in excess of par | 1,559,482 | 1,211,581 | 733,411 | (1,944,992 | ) | 1,559,482 | ||||||||||||||||||||
Retained earnings | 123,905 | 232,016 | 98,298 | (330,314 | ) | 123,905 | ||||||||||||||||||||
Accumulated other comprehensive income (loss) | (324 | ) | (2,133 | ) | 9,659 | (7,526 | ) | (324 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total stockholder's equity | 1,683,063 | 1,441,464 | 841,368 | (2,282,832 | ) | 1,683,063 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total liabilities and stockholder's equity | $ | 5,005,847 | $ | 4,598,507 | $ | 1,419,658 | $ | (5,904,629 | ) | $ | 5,119,383 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 81,356 | $ | 35,357 | $ | 81,848 | $ | — | $ | 198,561 | ||||||||||||||||
Accounts receivable, net | — | 127,894 | 43,776 | — | 171,670 | |||||||||||||||||||||
Intercompany | 34,549 | — | — | (34,549 | ) | — | ||||||||||||||||||||
Inventories | — | 561,276 | 178,676 | — | 739,952 | |||||||||||||||||||||
Deferred income taxes | — | 23,004 | 633 | — | 23,637 | |||||||||||||||||||||
Other current assets | 19,033 | 24,104 | 35,442 | — | 78,579 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total current assets | 134,938 | 771,635 | 340,375 | (34,549 | ) | 1,212,399 | ||||||||||||||||||||
Property, plant and equipment, net | 88,612 | 308,852 | 174,065 | — | 571,529 | |||||||||||||||||||||
Goodwill | — | 813,688 | 447,114 | — | 1,260,802 | |||||||||||||||||||||
Other intangible assets, net | — | 1,601,963 | 358,388 | — | 1,960,351 | |||||||||||||||||||||
Other assets | 61,218 | 6,938 | 79 | — | 68,235 | |||||||||||||||||||||
Intercompany loan receivable | 2,480,760 | 1,062,900 | 29,082 | (3,572,742 | ) | — | ||||||||||||||||||||
Investments in subsidiaries | 2,180,814 | — | — | (2,180,814 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total assets | $ | 4,946,342 | $ | 4,565,976 | $ | 1,349,103 | $ | (5,788,105 | ) | $ | 5,073,316 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Liabilities and Stockholder's Equity | ||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||
Current portion of long-term debt | $ | — | $ | — | $ | 376 | $ | — | $ | 376 | ||||||||||||||||
Accounts payable | — | 195,712 | 63,348 | — | 259,060 | |||||||||||||||||||||
Intercompany | — | 34,549 | — | (34,549 | ) | — | ||||||||||||||||||||
Accrued expenses and other current liabilities | 38,407 | 109,865 | 71,494 | — | 219,766 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total current liabilities | 38,407 | 340,126 | 135,218 | (34,549 | ) | 479,202 | ||||||||||||||||||||
Intercompany loan payable | 1,091,982 | 2,157,500 | 323,260 | (3,572,742 | ) | — | ||||||||||||||||||||
Long-term debt, net of current portion | 2,157,500 | — | 905 | — | 2,158,405 | |||||||||||||||||||||
Deferred income taxes | 14,151 | 637,726 | 99,542 | — | 751,419 | |||||||||||||||||||||
Other liabilities | 19,463 | 14,650 | 25,338 | — | 59,451 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total liabilities | 3,321,503 | 3,150,002 | 584,263 | (3,607,291 | ) | 3,448,477 | ||||||||||||||||||||
Commitments and contingencies | ||||||||||||||||||||||||||
Stockholder's Equity: | ||||||||||||||||||||||||||
Common stock | — | — | — | — | — | |||||||||||||||||||||
Capital in excess of par | 1,556,926 | 1,211,581 | 733,411 | (1,944,992 | ) | 1,556,926 | ||||||||||||||||||||
Retained earnings | 81,497 | 208,295 | 30,198 | (238,493 | ) | 81,497 | ||||||||||||||||||||
Accumulated other comprehensive income (loss) | (13,584 | ) | (3,902 | ) | 1,231 | 2,671 | (13,584 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total stockholder's equity | 1,624,839 | 1,415,974 | 764,840 | (2,180,814 | ) | 1,624,839 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total liabilities and stockholder's equity | $ | 4,946,342 | $ | 4,565,976 | $ | 1,349,103 | $ | (5,788,105 | ) | $ | 5,073,316 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Schedule of condensed consolidating statement of income | ' | |||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Net sales | $ | — | $ | 514,810 | $ | 289,468 | $ | (25,252 | ) | $ | 779,026 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | — | 330,923 | 125,410 | (25,252 | ) | 431,081 | ||||||||||||||||||||
Advertising, promotion and catalog | — | 47,709 | 11,074 | — | 58,783 | |||||||||||||||||||||
Selling, general and administrative | 27,813 | 113,790 | 97,291 | — | 238,894 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
27,813 | 492,422 | 233,775 | (25,252 | ) | 728,758 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) from operations | (27,813 | ) | 22,388 | 55,693 | — | 50,268 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other income (expense): | ||||||||||||||||||||||||||
Intercompany interest | 39,121 | (34,204 | ) | (4,917 | ) | — | — | |||||||||||||||||||
Interest | (34,204 | ) | 605 | 513 | — | (33,086 | ) | |||||||||||||||||||
Miscellaneous, net | 95 | (1,653 | ) | (156 | ) | — | (1,714 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
5,012 | (35,252 | ) | (4,560 | ) | — | (34,800 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) before income taxes | (22,801 | ) | (12,864 | ) | 51,133 | — | 15,468 | |||||||||||||||||||
Provision (benefit) for income taxes | 51 | (5,843 | ) | 11,360 | — | 5,568 | ||||||||||||||||||||
Equity in income of subsidiaries | 32,752 | — | — | (32,752 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net income (loss) | $ | 9,900 | $ | (7,021 | ) | $ | 39,773 | $ | (32,752 | ) | $ | 9,900 | ||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||
Foreign currency translation adjustment, net of taxes | (706 | ) | — | (1,486 | ) | 1,486 | (706 | ) | ||||||||||||||||||
Change in fair value of interest rate swaps net of taxes | 684 | 684 | — | (684 | ) | 684 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total other comprehensive income (loss), net of tax | (22 | ) | 684 | (1,486 | ) | 802 | (22 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Comprehensive income (loss) | $ | 9,878 | $ | (6,337 | ) | $ | 38,287 | $ | (31,950 | ) | $ | 9,878 | ||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Net sales | $ | — | $ | 528,345 | $ | 253,643 | $ | (24,114 | ) | $ | 757,874 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | — | 325,402 | 112,728 | (24,114 | ) | 414,016 | ||||||||||||||||||||
Advertising, promotion and catalog | — | 49,445 | 9,292 | — | 58,737 | |||||||||||||||||||||
Selling, general and administrative | 33,681 | 114,024 | 83,726 | — | 231,431 | |||||||||||||||||||||
Facility restructuring charge | — | 30,200 | 30,200 | |||||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
33,681 | 519,071 | 205,746 | (24,114 | ) | 734,384 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) from operations | (33,681 | ) | 9,274 | 47,897 | — | 23,490 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other income (expense): | ||||||||||||||||||||||||||
Intercompany interest | 44,055 | (41,668 | ) | (2,387 | ) | — | — | |||||||||||||||||||
Interest | (41,668 | ) | — | 152 | — | (41,516 | ) | |||||||||||||||||||
Miscellaneous, net | (217 | ) | 775 | (582 | ) | — | (24 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
2,170 | (40,893 | ) | (2,817 | ) | — | (41,540 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) before income taxes | (31,511 | ) | (31,619 | ) | 45,080 | — | (18,050 | ) | ||||||||||||||||||
Provision (benefit) for income taxes | (7,954 | ) | (12,343 | ) | 12,648 | — | (7,649 | ) | ||||||||||||||||||
Equity in income of subsidiaries | 13,156 | — | — | (13,156 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net income (loss) | $ | (10,401 | ) | $ | (19,276 | ) | $ | 32,432 | $ | (13,156 | ) | $ | (10,401 | ) | ||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||
Foreign currency translation adjustment, net of taxes | (41,085 | ) | — | (35,268 | ) | 35,268 | (41,085 | ) | ||||||||||||||||||
Change in fair value of interest rate swaps net of taxes | 953 | 953 | — | (953 | ) | 953 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total other comprehensive income (loss), net of tax | (40,132 | ) | 953 | (35,268 | ) | 34,315 | (40,132 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Comprehensive income (loss) | $ | (50,533 | ) | $ | (18,323 | ) | $ | (2,836 | ) | $ | 21,159 | $ | (50,533 | ) | ||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Six Months Ended March 31, 2014 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Net sales | $ | — | $ | 1,085,876 | $ | 574,609 | $ | (54,354 | ) | $ | 1,606,131 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | — | 672,791 | 254,362 | (54,354 | ) | 872,799 | ||||||||||||||||||||
Advertising, promotion and catalog | — | 76,823 | 20,482 | — | 97,305 | |||||||||||||||||||||
Selling, general and administrative | 50,085 | 230,670 | 190,822 | — | 471,577 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
50,085 | 980,284 | 465,666 | (54,354 | ) | 1,441,681 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) from operations | (50,085 | ) | 105,592 | 108,943 | — | 164,450 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other income (expense): | ||||||||||||||||||||||||||
Intercompany interest | 78,829 | (69,002 | ) | (9,827 | ) | — | — | |||||||||||||||||||
Interest | (69,002 | ) | 605 | 493 | — | (67,904 | ) | |||||||||||||||||||
Miscellaneous, net | 1,005 | (701 | ) | (1,029 | ) | — | (725 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
10,832 | (69,098 | ) | (10,363 | ) | — | (68,629 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) before income taxes | (39,253 | ) | 36,494 | 98,580 | — | 95,821 | ||||||||||||||||||||
Provision (benefit) for income taxes | (5,318 | ) | 12,773 | 24,645 | — | 32,100 | ||||||||||||||||||||
Equity in income of subsidiaries | 97,656 | — | — | (97,656 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net income (loss) | $ | 63,721 | $ | 23,721 | $ | 73,935 | $ | (97,656 | ) | $ | 63,721 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||
Foreign currency translation adjustment, net of taxes | 11,489 | — | 8,429 | (8,429 | ) | 11,489 | ||||||||||||||||||||
Change in fair value of interest rate swaps net of taxes | 1,769 | 1,769 | — | (1,769 | ) | 1,769 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total other comprehensive income (loss), net of tax | 13,258 | 1,769 | 8,429 | (10,198 | ) | 13,258 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Comprehensive income (loss) | $ | 76,979 | $ | 25,490 | $ | 82,364 | $ | (107,854 | ) | $ | 76,979 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Six Months Ended March 31, 2013 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Net sales | $ | — | $ | 1,091,915 | $ | 504,984 | $ | (49,798 | ) | $ | 1,547,101 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | — | 667,875 | 224,687 | (49,798 | ) | 842,764 | ||||||||||||||||||||
Advertising, promotion and catalog | — | 78,161 | 16,421 | — | 94,582 | |||||||||||||||||||||
Selling, general and administrative | 56,518 | 223,906 | 170,516 | — | 450,940 | |||||||||||||||||||||
Merger expenses | — | 30,200 | 30,200 | |||||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
56,518 | 1,000,142 | 411,624 | (49,798 | ) | 1,418,486 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) from operations | (56,518 | ) | 91,773 | 93,360 | — | 128,615 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other income (expense): | ||||||||||||||||||||||||||
Intercompany interest | 83,803 | (78,891 | ) | (4,912 | ) | — | — | |||||||||||||||||||
Interest | (78,891 | ) | — | 243 | — | (78,648 | ) | |||||||||||||||||||
Miscellaneous, net | (144 | ) | 2,872 | (2,304 | ) | — | 424 | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
4,768 | (76,019 | ) | (6,973 | ) | — | (78,224 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Income (loss) before income taxes | (51,750 | ) | 15,754 | 86,387 | — | 50,391 | ||||||||||||||||||||
Provision (benefit) for income taxes | (14,081 | ) | 5,514 | 24,188 | — | 15,621 | ||||||||||||||||||||
Equity in income of subsidiaries | 72,439 | — | — | (72,439 | ) | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net income (loss) | $ | 34,770 | $ | 10,240 | $ | 62,199 | $ | (72,439 | ) | $ | 34,770 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||
Foreign currency translation adjustment, net of taxes | (42,364 | ) | — | (32,465 | ) | 32,465 | (42,364 | ) | ||||||||||||||||||
Change in fair value of interest rate swaps net of taxes | 2,261 | 2,261 | — | (2,261 | ) | 2,261 | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Total other comprehensive income (loss), net of tax | (40,103 | ) | 2,261 | (32,465 | ) | 30,204 | (40,103 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Comprehensive income (loss) | $ | (5,333 | ) | $ | 12,501 | $ | 29,734 | $ | (42,235 | ) | $ | (5,333 | ) | |||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Schedule of condensed consolidating statement of cash flows | ' | |||||||||||||||||||||||||
Six Months Ended March 31, 2014 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Cash (used in) provided by operating activities | $ | (11,110 | ) | $ | 9,042 | $ | 16,702 | $ | (16,703 | ) | $ | (2,069 | ) | |||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||
Purchase of property, plant and equipment | (2,338 | ) | (29,864 | ) | (15,042 | ) | — | (47,244 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash used in investing activities | (2,338 | ) | (29,864 | ) | (15,042 | ) | — | (47,244 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||
Principal payments under long-term agreements | — | — | (215 | ) | — | (215 | ) | |||||||||||||||||||
Dividends paid | (21,313 | ) | (5,835 | ) | (5,835 | ) | 11,670 | (21,313 | ) | |||||||||||||||||
Intercompany accounts | 8,700 | (8,700 | ) | — | — | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash (used in) provided by financing activities | (12,613 | ) | (14,535 | ) | (6,050 | ) | 11,670 | (21,528 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Effect of exchange rate changes on cash | — | — | 1,213 | — | 1,213 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net decrease in cash and cash equivalents | (26,061 | ) | (35,357 | ) | (3,177 | ) | (5,033 | ) | (69,628 | ) | ||||||||||||||||
Cash and cash equivalents at beginning of period | 81,356 | 35,357 | 81,848 | — | 198,561 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash and cash equivalents at end of period | $ | 55,295 | $ | — | $ | 78,671 | $ | (5,033 | ) | $ | 128,933 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Six Months Ended March 31, 2013 | ||||||||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||
Cash provided by operating activities | $ | 14,509 | $ | 184,619 | $ | 47,791 | $ | (104,832 | ) | $ | 142,087 | |||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||
Purchase of property, plant and equipment | (18,140 | ) | (29,983 | ) | (15,569 | ) | — | (63,692 | ) | |||||||||||||||||
Proceeds from sale of building | 7,548 | — | — | — | 7,548 | |||||||||||||||||||||
Cash paid for acquisitions, net of cash acquired | (78,089 | ) | — | (461 | ) | — | (78,550 | ) | ||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash used in investing activities | (88,681 | ) | (29,983 | ) | (16,030 | ) | — | (134,694 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||
Proceeds from borrowings under the revolver | 80,000 | — | — | — | 80,000 | |||||||||||||||||||||
Paydowns of debt under the revolver | (55,000 | ) | — | — | — | (55,000 | ) | |||||||||||||||||||
Payments for financing fees | (7,387 | ) | — | — | — | (7,387 | ) | |||||||||||||||||||
Dividends paid | (193,956 | ) | (52,416 | ) | (52,416 | ) | 104,832 | (193,956 | ) | |||||||||||||||||
Intercompany | 114,067 | (114,067 | ) | — | — | — | ||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash (used in) provided by financing activities | (62,276 | ) | (166,483 | ) | (52,416 | ) | 104,832 | (176,343 | ) | |||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | (4,110 | ) | — | (4,110 | ) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Net decrease in cash and cash equivalents | (136,448 | ) | (11,847 | ) | (24,765 | ) | — | (173,060 | ) | |||||||||||||||||
Cash and cash equivalents at beginning of period | 183,661 | 14,589 | 116,886 | — | 315,136 | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Cash and cash equivalents at end of period | $ | 47,213 | $ | 2,742 | $ | 92,121 | $ | — | $ | 142,076 | ||||||||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | ||||||||||
Schedule of condensed financial statements | ' | |||||||||||||||||||||||||
The table below presents, for each line item of the Condensed Financial Statements as of September 30, 2013 and for the three and six months ended March 31, 2013 that we corrected, a comparison of the revised balance with the originally reported balance. | ||||||||||||||||||||||||||
Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | |||||||||||||||||||||||
($ in millions) | As Reported | As Revised | As Reported | As Revised | As Reported | As Revised | As Reported | As Revised | ||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||
Intercompany | $ | 857.7 | $ | 34.5 | $ | — | $ | — | $ | 264.1 | $ | — | $ | (1,121.8 | ) | $ | (34.5 | ) | ||||||||
Other current assets | $ | — | $ | 19 | $ | 43.1 | $ | 24.1 | $ | 35.4 | $ | 35.4 | $ | — | $ | — | ||||||||||
Total current assets | $ | 939 | $ | 134.9 | $ | 790.7 | $ | 771.6 | $ | 604.4 | $ | 340.4 | $ | (1,121.8 | ) | $ | (34.5 | ) | ||||||||
Other assets | $ | — | $ | 61.2 | $ | 68.2 | $ | 6.9 | $ | 0.1 | $ | 0.1 | $ | — | $ | — | ||||||||||
Intercompany | $ | 323.3 | $ | 2,480.80 | $ | — | $ | 1,062.90 | $ | — | $ | 29.1 | $ | (323.3 | ) | $ | (3,572.7 | ) | ||||||||
Investments in subsidiaries | $ | 3,211.10 | $ | 2,180.80 | $ | — | $ | — | $ | — | $ | — | $ | (3,211.1 | ) | $ | (2,180.8 | ) | ||||||||
Total assets | $ | 4,562.00 | $ | 4,946.30 | $ | 3,583.30 | $ | 4,566.00 | $ | 1,584.10 | $ | 1,349.10 | $ | (4,656.1 | ) | $ | (5,788.1 | ) | ||||||||
Liabilities and Stockholder's Equity | ||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||
Intercompany | $ | — | $ | — | $ | 1,121.80 | $ | 34.5 | $ | — | $ | — | $ | (1,121.8 | ) | $ | (34.5 | ) | ||||||||
Total current liabilities | $ | 38.4 | $ | 38.4 | $ | 1,424.30 | $ | 340.1 | $ | 135.2 | $ | 135.2 | $ | (1,121.8 | ) | $ | (34.5 | ) | ||||||||
Intercompany | $ | — | $ | 1,092.20 | $ | — | $ | 2,157.50 | $ | 323.3 | $ | 323.3 | $ | (323.3 | ) | $ | (3,572.7 | ) | ||||||||
Deferred income taxes | $ | 721.8 | $ | 14.2 | $ | 22 | $ | 637.7 | $ | 7.5 | $ | 99.5 | $ | — | $ | — | ||||||||||
Total liabilities | $ | 2,937.20 | $ | 3,321.50 | $ | 1,464.00 | $ | 3,150.00 | $ | 492.3 | $ | 584.3 | $ | (1,445.0 | ) | $ | (3,607.3 | ) | ||||||||
Stockholder's Equity: | ||||||||||||||||||||||||||
Capital in excess of par | $ | 1,556.90 | $ | 1,556.90 | $ | 352 | $ | 1,211.60 | $ | 301.3 | $ | 733.4 | $ | (653.3 | ) | $ | (1,945.0 | ) | ||||||||
Retained earnings | $ | 81.5 | $ | 81.5 | $ | 1,767.30 | $ | 208.3 | $ | 789.3 | $ | 30.2 | $ | (2,556.6 | ) | $ | (238.5 | ) | ||||||||
Accumulated other comprehensive income (loss) | $ | (13.6 | ) | $ | (13.6 | ) | $ | — | $ | (3.9 | ) | $ | 1.2 | $ | 1.2 | $ | (1.2 | ) | $ | 2.7 | ||||||
Total stockholder's equity | $ | 1,624.80 | $ | 1,624.80 | $ | 2,119.30 | $ | 1,416.00 | $ | 1,091.80 | $ | 764.8 | $ | (3,211.1 | ) | $ | (2,180.8 | ) | ||||||||
Total liabilities and stockholder's equity | $ | 4,562.00 | $ | 4,946.30 | $ | 3,583.30 | $ | 4,566.00 | $ | 1,584.10 | $ | 1,349.10 | $ | (4,656.1 | ) | $ | (5,788.1 | ) | ||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2013 | ||||||||||||||||||||||||||
Selling, general and administrative | $ | 63.9 | $ | 33.7 | $ | 83.8 | $ | 114 | $ | 83.7 | $ | 83.7 | $ | — | $ | — | ||||||||||
Income (loss) from operations | $ | (63.9 | ) | $ | (33.7 | ) | $ | 39.5 | $ | 9.3 | $ | 47.9 | $ | 47.9 | $ | — | $ | — | ||||||||
Intercompany interest | $ | 2.4 | $ | 44.1 | $ | — | $ | (41.7 | ) | $ | (2.4 | ) | $ | (2.4 | ) | $ | — | $ | — | |||||||
Total other income (expense) | $ | (39.5 | ) | $ | 2.2 | $ | 0.8 | $ | (40.9 | ) | $ | (2.8 | ) | $ | (2.8 | ) | $ | — | $ | — | ||||||
Income (loss) before income taxes | $ | (103.4 | ) | $ | (31.5 | ) | $ | 40.2 | $ | (31.6 | ) | $ | 45.1 | $ | 45.1 | $ | — | $ | — | |||||||
Provision (benefit) for income taxes | $ | (34.4 | ) | $ | (8.0 | ) | $ | 14.1 | $ | (12.3 | ) | $ | 12.6 | $ | 12.6 | $ | — | $ | — | |||||||
Equity in income of subsidiaries | $ | 58.6 | $ | 13.2 | $ | — | $ | — | $ | — | $ | — | $ | (58.6 | ) | $ | (13.2 | ) | ||||||||
Net income (loss) | $ | (10.4 | ) | $ | (10.4 | ) | $ | 26.2 | $ | (19.3 | ) | $ | 32.5 | $ | 32.4 | $ | (58.6 | ) | $ | (13.2 | ) | |||||
Foreign currency translation adjustment, net of taxes | $ | — | $ | (41.1 | ) | $ | — | $ | — | $ | (53.6 | ) | $ | (35.3 | ) | $ | — | $ | 35.3 | |||||||
Change in fair value of interest rate swaps, net of taxes | $ | 13.5 | $ | 1 | $ | — | $ | 1 | $ | — | $ | — | $ | — | $ | (1.0 | ) | |||||||||
Comprehensive income (loss) | $ | 3.1 | $ | (50.5 | ) | $ | 26.2 | $ | (18.3 | ) | $ | (21.2 | ) | $ | (2.8 | ) | $ | (58.6 | ) | $ | 21.2 | |||||
Consolidated Statements of Operations and Comprehensive Income (Loss) for the six months ended March 31, 2013 | ||||||||||||||||||||||||||
Selling, general and administrative | $ | 86.7 | $ | 56.5 | $ | 193.7 | $ | 223.9 | $ | 170.5 | $ | 170.5 | $ | — | $ | — | ||||||||||
Income (loss) from operations | $ | (86.7 | ) | $ | (56.5 | ) | $ | 122 | $ | 91.8 | $ | 93.4 | $ | 93.4 | $ | — | $ | — | ||||||||
Intercompany interest | $ | 4.9 | $ | 83.8 | $ | — | $ | (78.9 | ) | $ | (4.9 | ) | $ | (4.9 | ) | $ | — | $ | — | |||||||
Total other income (expense) | $ | (74.1 | ) | $ | 4.8 | $ | 2.9 | $ | (76.0 | ) | $ | (7.0 | ) | $ | (7.0 | ) | $ | — | $ | — | ||||||
Income (loss) before income taxes | $ | (160.8 | ) | $ | (51.8 | ) | $ | 124.8 | $ | 15.8 | $ | 86.4 | $ | 86.4 | $ | — | $ | — | ||||||||
Provision (benefit) for income taxes | $ | (52.3 | ) | $ | (14.1 | ) | $ | 43.7 | $ | 5.5 | $ | 24.2 | $ | 24.2 | $ | — | $ | — | ||||||||
Equity in income of subsidiaries | $ | 143.3 | $ | 72.4 | $ | — | $ | — | $ | — | $ | — | $ | (143.3 | ) | $ | (72.4 | ) | ||||||||
Net income (loss) | $ | 34.8 | $ | 34.8 | $ | 81.1 | $ | 10.2 | $ | 62.2 | $ | 62.2 | $ | (143.3 | ) | $ | (72.4 | ) | ||||||||
Foreign currency translation adjustment, net of taxes | $ | — | $ | (42.4 | ) | $ | — | $ | — | $ | (54.3 | ) | $ | (32.5 | ) | $ | — | $ | 32.5 | |||||||
Change in fair value of interest rate swaps, net of taxes | $ | 14.2 | $ | 2.3 | $ | — | $ | 2.3 | $ | — | $ | — | $ | — | $ | (2.3 | ) | |||||||||
Comprehensive income (loss) | $ | 49 | $ | (5.3 | ) | $ | 81.1 | $ | 12.5 | $ | 7.9 | $ | 29.7 | $ | (143.3 | ) | $ | (42.2 | ) | |||||||
Statement of cash flows for the six months ended March 31, 2013 | ||||||||||||||||||||||||||
Cash provided by (used in) operating activities | $ | 128.6 | $ | 14.5 | $ | 18.6 | $ | 132.2 | $ | (5.1 | ) | $ | 47.8 | $ | — | $ | (52.4 | ) | ||||||||
Cash paid for acquisitions, net of cash acquired | $ | (78.1 | ) | $ | (78.1 | ) | $ | (0.5 | ) | $ | — | $ | — | $ | (0.5 | ) | $ | — | $ | — | ||||||
Cash used in investing activities | $ | (88.7 | ) | $ | (88.7 | ) | $ | (30.4 | ) | $ | (30.0 | ) | $ | (15.6 | ) | $ | (16.0 | ) | $ | — | $ | — | ||||
Dividends paid | $ | (194.0 | ) | $ | (194.0 | ) | $ | — | $ | — | $ | — | $ | (52.4 | ) | $ | — | $ | 52.4 | |||||||
Cash used in financing activities | $ | (176.3 | ) | $ | (62.3 | ) | $ | — | $ | (114.1 | ) | $ | — | $ | (52.4 | ) | $ | — | $ | 52.4 |
Basis_of_Presentation_Details
Basis of Presentation (Details) (USD $) | Mar. 31, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts receivable reserves | ' | ' |
Total accounts receivable reserves | $101,795 | $98,848 |
Allowance for sales returns | ' | ' |
Accounts receivable reserves | ' | ' |
Total accounts receivable reserves | 12,710 | 13,549 |
Promotional program incentive allowances | ' | ' |
Accounts receivable reserves | ' | ' |
Total accounts receivable reserves | 85,380 | 82,827 |
Allowance for doubtful accounts | ' | ' |
Accounts receivable reserves | ' | ' |
Total accounts receivable reserves | $3,705 | $2,472 |
Facility_Restructuring_Charge_1
Facility Restructuring Charge (Details) (Closure of facilities, USD $) | 0 Months Ended | 6 Months Ended | 21 Months Ended |
In Thousands, unless otherwise specified | Mar. 12, 2013 | Mar. 31, 2014 | Sep. 30, 2014 |
item | |||
Facility restructuring charge | ' | ' | ' |
Expected number of facilities to be eliminated | 7 | ' | ' |
Cumulative charges | ' | ' | $32,695 |
Reconciliation of charges to accrued expenses | ' | ' | ' |
Restructuring accrual at the beginning of the period | ' | 15,085 | ' |
Cash payments | ' | -8,047 | ' |
Other | ' | -509 | ' |
Restructuring accrual at the end of the period | ' | 6,529 | ' |
Accelerated depreciation | ' | ' | ' |
Facility restructuring charge | ' | ' | ' |
Cumulative charges | ' | ' | 12,588 |
Workforce Reductions | ' | ' | ' |
Reconciliation of charges to accrued expenses | ' | ' | ' |
Restructuring accrual at the beginning of the period | ' | 12,436 | ' |
Cash payments | ' | -6,678 | ' |
Restructuring accrual at the end of the period | ' | 5,758 | ' |
Facility Costs | ' | ' | ' |
Reconciliation of charges to accrued expenses | ' | ' | ' |
Restructuring accrual at the beginning of the period | ' | 2,649 | ' |
Cash payments | ' | -1,369 | ' |
Other | ' | -509 | ' |
Restructuring accrual at the end of the period | ' | $771 | ' |
Acquisitions_Details
Acquisitions (Details) | Mar. 31, 2014 | Sep. 30, 2013 | Nov. 26, 2012 | Nov. 26, 2012 | Nov. 26, 2012 | Jun. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | USD ($) | USD ($) | Balance Bar Company | Balance Bar Company | Balance Bar Company | Essenza | Essenza |
USD ($) | Tradenames | Customer relationships | NBTY Europe Limited | NBTY Europe Limited | |||
USD ($) | USD ($) | USD ($) | EUR (€) | ||||
item | |||||||
Acquisitions | ' | ' | ' | ' | ' | ' | ' |
Purchase price | ' | ' | $77,978 | ' | ' | ' | ' |
Goodwill | 1,266,025 | 1,260,802 | 35,500 | ' | ' | ' | ' |
Intangibles assets | ' | ' | ' | 26,000 | 29,000 | ' | ' |
Amortization period | ' | ' | ' | '30 years | '22 years | ' | ' |
Number of stores | ' | ' | ' | ' | ' | 13 | 13 |
Total net purchase price | ' | ' | ' | ' | ' | 4,163 | 3,200 |
Goodwill not deductible for tax purposes | ' | ' | ' | ' | ' | $4,200 | ' |
Inventories_Details
Inventories (Details) (USD $) | Mar. 31, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Inventories | ' | ' |
Raw materials | $243,684 | $195,713 |
Work-in-process | 20,349 | 25,068 |
Finished goods | 608,474 | 519,171 |
Total inventories | $872,507 | $739,952 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Sep. 30, 2013 |
Wholesale | European Retail | Direct Response / E-Commerce | Direct Response / E-Commerce | North American Retail | North American Retail | ||
Changes in goodwill | ' | ' | ' | ' | ' | ' | ' |
Balance at the beginning of the period | $1,260,802 | $645,220 | $324,853 | $264,985 | $264,985 | $25,744 | $25,744 |
Purchase price adjustments | 517 | ' | 517 | ' | ' | ' | ' |
Foreign currency translation | 4,706 | -4,154 | 8,860 | ' | ' | ' | ' |
Balance at the end of the period | $1,266,025 | $641,066 | $334,230 | $264,985 | $264,985 | $25,744 | $25,744 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets (Details 2) (USD $) | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Brands and customer relationships | Brands and customer relationships | Brands and customer relationships | Brands and customer relationships | Tradenames and other | Tradenames and other | Tradenames and other | Tradenames and other | ||
Minimum | Maximum | Minimum | Maximum | |||||||
Definite lived intangible assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross carrying amount | $1,091,548 | $1,091,874 | $913,483 | $913,971 | ' | ' | $178,065 | $177,903 | ' | ' |
Accumulated amortization | 156,120 | 133,007 | 136,126 | 116,330 | ' | ' | 19,994 | 16,677 | ' | ' |
Amortization period | ' | ' | ' | ' | '17 years | '25 years | ' | ' | '20 years | '30 years |
Indefinite lived intangible asset: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tradenames | 1,009,792 | 1,001,484 | ' | ' | ' | ' | ' | ' | ' | ' |
Total intangible assets | $2,101,340 | $2,093,358 | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets (Details 3) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Goodwill and Intangible Assets | ' | ' | ' | ' |
Aggregate amortization expense of definite lived intangible assets | $11,534 | $11,573 | $23,137 | $22,674 |
Estimated amortization expense | ' | ' | ' | ' |
2014 | 46,000 | ' | 46,000 | ' |
2015 | 46,000 | ' | 46,000 | ' |
2016 | 46,000 | ' | 46,000 | ' |
2017 | 46,000 | ' | 46,000 | ' |
2018 | $46,000 | ' | $46,000 | ' |
LongTerm_Debt_Details
Long-Term Debt (Details) (USD $) | 1 Months Ended | 6 Months Ended | 1 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 1 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Oct. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Oct. 31, 2012 | Oct. 17, 2012 | Mar. 31, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 21, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Oct. 01, 2010 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Oct. 01, 2010 | Nov. 30, 2012 | Mar. 01, 2011 | Mar. 31, 2014 | Mar. 31, 2014 | Oct. 01, 2010 | Oct. 01, 2010 | Dec. 12, 2013 | Nov. 01, 2013 | 1-May-13 | Oct. 11, 2012 | Oct. 17, 2012 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 21, 2013 | Dec. 30, 2011 | Mar. 01, 2011 |
Holdings | Holdings | Holdings | Prior to October 1, 2014 | Term loan B-2 | Term loan B-2 | Term loan B-2 | Term loan B-2 | Term loan B-2 | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Other | Other | Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Term loan A | Term loan B | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Holdco Notes | Term loan B-1 | Term loan B-1 | Term loan B-1 | |||||
Eurodollar (LIBOR) | Base rate | On or after October 1, 2014 | On or after October 1, 2015 | On and after October 1, 2016 and thereafter | Prior to October 1, 2014 | Balance Bar Company | Holdings | Eurodollar (LIBOR) | Base rate | Holdings | Holdings | Holdings | Holdings | Holdings | Holdings | Holdings | Holdings | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Maximum | Holdings | |||||||||||||||||||||||
Equal or exceed 75%, but less than 100% | Equal or exceed 50%, but less than 75% | Equal or exceed 25%, but less than 50% | Holdings | Holdings | Holdings | Holdings | Holdings | Holdings | Holdings | |||||||||||||||||||||||||||||||||||||||
Equal or exceed 75%, but less than 100% | Equal or exceed 50%, but less than 75% | Equal or exceed 25%, but less than 50% | Equal or exceed 75%, but less than 100% | Equal or exceed 50%, but less than 75% | Equal or exceed 25%, but less than 50% | Less than 25% | ||||||||||||||||||||||||||||||||||||||||||
Long-Term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, gross | ' | ' | $2,158,589 | $2,158,781 | ' | ' | ' | ' | $1,507,500 | $1,507,500 | ' | ' | ' | $650,000 | $650,000 | ' | ' | ' | ' | ' | $1,089 | $1,281 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less: current portion | ' | ' | -311 | -376 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt | ' | ' | 2,158,278 | 2,158,405 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face amount of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,507,500 | ' | ' | ' | ' | 650,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | 1,500,000 | 450,000 | ' | ' | ' | 550,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,750,000 |
Face amount of debt repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,750,000 | ' | ' |
Portion of excess cash flow (as defined) as part of additional prepayments on term loan (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reference rate for variable interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Eurodollar (LIBOR) | 'Base rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Eurodollar (LIBOR) | 'Base rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Floor for reference rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Margin rate over reference rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.25% | 2.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Step down percentage upon achievement of a total senior secured leverage ratio (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off deferred financing cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,232 | 9,289 | ' |
Call premium on term loan | ' | -15,075 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,151 | ' | ' |
Financing costs capitalized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,121 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,190 | ' | ' |
Remaining portion of the call premium capitalized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,924 | ' | ' |
Prepaid future principal payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 225,000 | ' |
Borrowings of senior credit facilities to finance the acquisition | ' | 80,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment penalty payable (as a percent) | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period after Second Refinancing Date when prepayment penalty becomes payable | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
PIK interest (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash on hand from Company used to pay transaction fees and expenses and a dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross proceeds from issuance of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 460,125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premium on issuance of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consent fee | ' | ' | ' | ' | 18,560 | ' | 17,345 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend paid | 193,956 | ' | ' | ' | 445,537 | 721,678 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in the general restricted payments basket | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on debt instrument (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused line fee percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fronting fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price as a percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104.50% | 102.25% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Applicable amount for interest period expressed as a percentage of the aggregate amount of cash interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | 50.00% | 25.00% | 100.00% | 75.00% | 50.00% | 25.00% | ' | ' | ' |
Percentage of outstanding principal amount in which interest is payable by increasing the principal amount of outstanding notes or by issuing PIK Notes equal to such interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of outstanding principal amount in which interest is payable in kind | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of outstanding principal amount in which interest is payable in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | 50.00% | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of interest payment funded by dividend received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21,313 | $22,970 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (Recurring, USD $) | Mar. 31, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Level 2 | Interest rate swaps | ' | ' |
Fair value measurements | ' | ' |
Derivative liabilities (included in accrued expenses and other current liabilities) | ($3,441) | ($5,268) |
Derivative liabilities (included in other liabilities) | ' | -1,066 |
Level 3 | Cross currency swaps | ' | ' |
Fair value measurements | ' | ' |
Derivative liabilities (included in accrued expenses and other current liabilities) | -4,330 | -3,855 |
Derivative liabilities (included in other liabilities) | ($24,891) | ($18,399) |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments (Details 2) (Cross currency swaps, Level 3, USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Sep. 30, 2013 |
Minimum | Minimum | Maximum | Maximum | Weighted average | Weighted average | |||||
Fair Value Measurements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Performance risk for derivative contracts as a percentage of unadjusted liabilities | ' | ' | ' | ' | 8.30% | 9.50% | 8.50% | 10.30% | 8.40% | 9.80% |
Level 3 activity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance: | ($27,359) | ($25,877) | ($22,254) | ($24,862) | ' | ' | ' | ' | ' | ' |
Unrealized loss on cross hedging instruments | -1,862 | 19,750 | -6,967 | 18,735 | ' | ' | ' | ' | ' | ' |
Ending balance: | ($29,221) | ($6,127) | ($29,221) | ($6,127) | ' | ' | ' | ' | ' | ' |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments (Details 3) | 1 Months Ended | 42 Months Ended | 3 Months Ended | 6 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2011 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2010 | |
Interest rate swaps | Interest rate swaps | Interest rate swaps | Interest rate swaps | Cross currency swaps | Cross currency swaps | Cross currency swaps | Cross currency swaps | Cross currency swaps | Cross currency swaps | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | contract | |
contract | ||||||||||
Derivative information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of derivative contracts entered into by the entity | ' | ' | 3 | ' | ' | ' | ' | ' | ' | 3 |
Notional amount of each derivative contract | $166,666,000 | $266,666,000 | $333,333,000 | ' | ' | ' | $300,000,000 | £ 194,200,000 | ' | ' |
Notional amount of derivative contracts | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' |
Fixed interest rate (as a percent) | ' | ' | 1.92% | ' | ' | ' | ' | ' | ' | ' |
Derivative term | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' |
Forward rate (as a percent) | ' | ' | ' | ' | 1.565 | ' | 1.565 | 1.565 | ' | ' |
Hedge ineffectiveness (gain) / loss | ' | ' | ' | $0 | $58,000 | $656,000 | ($952,000) | ' | $719,000 | ' |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments (Details 4) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Impact on income statement of derivative instruments designated as cash flow and net investment hedging instruments | ' | ' | ' | ' |
Amount of Gain or (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion) | ($1,553) | $11,647 | ($6,489) | $10,032 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | -1,147 | -1,835 | -3,014 | -4,174 |
Interest rate swaps | Cash Flow Hedges: | ' | ' | ' | ' |
Impact on income statement of derivative instruments designated as cash flow and net investment hedging instruments | ' | ' | ' | ' |
Amount of Gain or (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion) | -463 | -882 | -1,245 | -1,913 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | -1,147 | -1,835 | -3,014 | -4,174 |
Cross currency swaps | Net Investment Hedges: | ' | ' | ' | ' |
Impact on income statement of derivative instruments designated as cash flow and net investment hedging instruments | ' | ' | ' | ' |
Amount of Gain or (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion) | ($1,090) | $12,529 | ($5,244) | $11,945 |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments (Details 5) (USD $) | Mar. 21, 2013 | Oct. 01, 2010 | Mar. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Term loan B-2 | Notes | Level 2 | Level 2 |
Term loan B-2 | Notes | |||
Fair value measurements | ' | ' | ' | ' |
Face value of debt instrument | $1,507,500 | $650,000 | $1,507,500 | ' |
Fair value of Notes | ' | ' | ' | $699,000 |
Litigation_Summary_Details
Litigation Summary (Details) (Glucosamine-Based Dietary Supplements, USD $) | Jan. 03, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Glucosamine-Based Dietary Supplements | ' | ' |
Employment class Actions | ' | ' |
Provision as per best estimate | $6,100 | $12,000 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Income Taxes | ' | ' | ' | ' |
Effective income tax rate (as a percent) | 36.00% | 42.40% | 33.50% | 31.00% |
Accrued interest | $1,789 | ' | $1,789 | ' |
Accrued penalties | 662 | ' | 662 | ' |
Liability of unrecognized tax benefits | 14,260 | ' | 14,260 | ' |
Unrecognized tax benefits, recognition of which would have an effect on provision for income taxes and effective income tax rate | $10,670 | ' | $10,670 | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Additions to and reclassifications out of accumulated other comprehensive income (loss) | ' | ' | ' | ' |
Balance at beginning of period | ($303) | ($18,565) | ($13,584) | ($18,594) |
Other comprehensive income (loss) before reclassifications | -1,167 | -41,967 | 10,244 | -44,277 |
Amount reclassified from accumulated other comprehensive income (loss) | 1,146 | 1,835 | 3,014 | 4,174 |
Balance at end of period | -324 | -58,697 | -324 | -58,697 |
Foreign currency translation adjustment | ' | ' | ' | ' |
Additions to and reclassifications out of accumulated other comprehensive income (loss) | ' | ' | ' | ' |
Balance at beginning of period | 2,514 | -11,567 | -9,680 | -10,288 |
Other comprehensive income (loss) before reclassifications | -705 | -41,085 | 11,489 | -42,364 |
Balance at end of period | 1,809 | -52,652 | 1,809 | -52,652 |
Gains and losses on cash flow hedges | ' | ' | ' | ' |
Additions to and reclassifications out of accumulated other comprehensive income (loss) | ' | ' | ' | ' |
Balance at beginning of period | -2,817 | -6,998 | -3,902 | -8,306 |
Other comprehensive income (loss) before reclassifications | -462 | -882 | -1,245 | -1,913 |
Amount reclassified from accumulated other comprehensive income (loss) | 1,146 | 1,835 | 3,014 | 4,174 |
Balance at end of period | ($2,133) | ($6,045) | ($2,133) | ($6,045) |
Business_and_Credit_Concentrat2
Business and Credit Concentration (Details) (Customer concentration risk) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | |
Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Net sales | Gross accounts receivable | Gross accounts receivable | Gross accounts receivable | Gross accounts receivable | |
Customer A | Customer A | Customer A | Customer A | Customer A | Customer A | Customer A | Customer A | Customer B | Customer B | Customer B | Customer B | Customer B | Customer B | Customer B | Customer B | Customer C | Customer C | Customer C | Customer C | Customer A | Customer A | Customer B | Customer B | |
Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | Wholesale segment | |||||||||||
Business and Credit Concentration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of concentration risk | 12.00% | 13.00% | 12.00% | 14.00% | 21.00% | 22.00% | 20.00% | 22.00% | 5.00% | 6.00% | 8.00% | 6.00% | 8.00% | 10.00% | 13.00% | 10.00% | 5.00% | 7.00% | 9.00% | 11.00% | 16.00% | 12.00% | 9.00% | 11.00% |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | Mar. 31, 2014 | Sep. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | Holdings | Carlyle | Carlyle | Carlyle | Carlyle | ||
Holdco Notes | |||||||
Related party transactions | ' | ' | ' | ' | ' | ' | ' |
Expected annual consulting fee | ' | ' | ' | ' | ' | $3,000 | ' |
Expenses incurred from transactions with related party | ' | ' | ' | 750 | 750 | 1,500 | 1,500 |
Out of pocket expenditures paid to related party | ' | ' | ' | 39 | 29 | 368 | 311 |
Debt issued | $2,158,589 | $2,158,781 | $1,000,000 | ' | ' | ' | ' |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
item | ||||
Segment Information | ' | ' | ' | ' |
Number of business segments | ' | ' | 4 | ' |
Segment Information | ' | ' | ' | ' |
Net sales | $779,026 | $757,874 | $1,606,131 | $1,547,101 |
Income (loss) from operations | 50,268 | 23,490 | 164,450 | 128,615 |
Depreciation and amortization | 25,834 | 29,279 | 51,399 | 52,670 |
Capital expenditures | 25,997 | 30,174 | 47,244 | 63,692 |
Reportable Business Segments | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Net sales | 779,026 | 757,874 | 1,606,131 | 1,547,101 |
Income (loss) from operations | 78,009 | 87,422 | 214,464 | 215,464 |
Depreciation and amortization | 16,814 | 16,952 | 33,462 | 33,458 |
Capital expenditures | 13,789 | 7,189 | 23,343 | 16,341 |
Corporate/Manufacturing | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Income (loss) from operations | -27,741 | -63,932 | -50,014 | -86,849 |
Depreciation and amortization | 9,020 | 12,327 | 17,937 | 19,212 |
Capital expenditures | 12,208 | 22,985 | 23,901 | 47,351 |
Wholesale | Reportable Business Segments | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Net sales | 443,449 | 445,672 | 948,723 | 939,876 |
Income (loss) from operations | 19,004 | 26,964 | 101,732 | 96,891 |
Depreciation and amortization | 9,081 | 10,068 | 18,167 | 19,697 |
Capital expenditures | 172 | 55 | 203 | 230 |
European Retail | Reportable Business Segments | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Net sales | 215,317 | 187,103 | 420,229 | 366,087 |
Income (loss) from operations | 49,915 | 42,517 | 93,875 | 82,501 |
Depreciation and amortization | 4,133 | 3,766 | 8,177 | 7,509 |
Capital expenditures | 9,547 | 5,810 | 14,868 | 13,918 |
European Retail | Reportable Business Segments | Holland & Barrett | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of stores | 743 | ' | 743 | ' |
European Retail | Reportable Business Segments | Holland & Barrett | China | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of franchised stores | 27 | ' | 27 | ' |
European Retail | Reportable Business Segments | Holland & Barrett | Singapore | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of franchised stores | 27 | ' | 27 | ' |
European Retail | Reportable Business Segments | Holland & Barrett | United Arab Emirates | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of franchised stores | 8 | ' | 8 | ' |
European Retail | Reportable Business Segments | Holland & Barrett | Cyprus | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of franchised stores | 8 | ' | 8 | ' |
European Retail | Reportable Business Segments | Holland & Barrett | Malta | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of franchised stores | 4 | ' | 4 | ' |
European Retail | Reportable Business Segments | Holland & Barrett | Gibraltar | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of franchised stores | 1 | ' | 1 | ' |
European Retail | Reportable Business Segments | Holland & Barrett | Iceland | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of franchised stores | 1 | ' | 1 | ' |
European Retail | Reportable Business Segments | De Tuinen | Netherlands | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of stores | 131 | ' | 131 | ' |
Number of franchised stores | 7 | ' | 7 | ' |
European Retail | Reportable Business Segments | GNC (UK) stores | U.K. | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of stores | 57 | ' | 57 | ' |
European Retail | Reportable Business Segments | GNC (UK) stores | Ireland | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of stores | 47 | ' | 47 | ' |
European Retail | Reportable Business Segments | GNC (UK) stores | Belgium | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of stores | 13 | ' | 13 | ' |
Direct Response/E-Commerce | Reportable Business Segments | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Net sales | 63,601 | 63,898 | 123,963 | 122,582 |
Income (loss) from operations | 7,388 | 11,075 | 14,363 | 23,324 |
Depreciation and amortization | 2,833 | 2,505 | 5,645 | 5,009 |
Capital expenditures | 113 | 656 | 682 | 768 |
North American Retail | Reportable Business Segments | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Net sales | 56,659 | 61,201 | 113,216 | 118,556 |
Income (loss) from operations | 1,702 | 6,866 | 4,494 | 12,748 |
Depreciation and amortization | 767 | 613 | 1,473 | 1,243 |
Capital expenditures | $3,957 | $668 | $7,590 | $1,425 |
North American Retail | Reportable Business Segments | Vitamin World | ' | ' | ' | ' |
Segment Information | ' | ' | ' | ' |
Number of stores | 417 | ' | 417 | ' |
Segment_Information_Details_2
Segment Information (Details 2) (USD $) | Mar. 31, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Total assets by segment | ' | ' |
Consolidated assets | $5,119,383 | $5,073,316 |
Reportable Business Segments | ' | ' |
Total assets by segment | ' | ' |
Consolidated assets | 4,390,432 | 4,290,916 |
Corporate / Manufacturing | ' | ' |
Total assets by segment | ' | ' |
Consolidated assets | 728,951 | 782,400 |
Wholesale | Reportable Business Segments | ' | ' |
Total assets by segment | ' | ' |
Consolidated assets | 2,615,071 | 2,553,857 |
European Retail | Reportable Business Segments | ' | ' |
Total assets by segment | ' | ' |
Consolidated assets | 963,349 | 924,979 |
Direct Response / E-Commerce | Reportable Business Segments | ' | ' |
Total assets by segment | ' | ' |
Consolidated assets | 688,244 | 692,685 |
North American Retail | Reportable Business Segments | ' | ' |
Total assets by segment | ' | ' |
Consolidated assets | $123,768 | $119,395 |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Statements of Guarantors (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Condensed Consolidating Financial Statements of Guarantors | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage in subsidiary | 100.00% | ' | 100.00% | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Other current assets | $79,447 | ' | $79,447 | ' | ' | $78,579 | ' | ' |
Total current assets | 1,271,920 | ' | 1,271,920 | ' | ' | 1,212,399 | ' | ' |
Other assets | 60,106 | ' | 60,106 | ' | ' | 68,235 | ' | ' |
Total assets | 5,119,383 | ' | 5,119,383 | ' | ' | 5,073,316 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Total current liabilities | 465,138 | ' | 465,138 | ' | ' | 479,202 | ' | ' |
Deferred income taxes | 747,014 | ' | 747,014 | ' | ' | 751,419 | ' | ' |
Total liabilities | 3,436,320 | ' | 3,436,320 | ' | ' | 3,448,477 | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital in excess of par | 1,559,482 | ' | 1,559,482 | ' | ' | 1,556,926 | ' | ' |
Retained earnings | 123,905 | ' | 123,905 | ' | ' | 81,497 | ' | ' |
Accumulated other comprehensive income (loss) | -324 | -58,697 | -324 | -58,697 | -303 | -13,584 | -18,565 | -18,594 |
Total stockholder's equity | 1,683,063 | ' | 1,683,063 | ' | ' | 1,624,839 | ' | ' |
Total liabilities and stockholder's equity | 5,119,383 | ' | 5,119,383 | ' | ' | 5,073,316 | ' | ' |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | 238,894 | 231,431 | 471,577 | 450,940 | ' | ' | ' | ' |
Income (loss) from operations | 50,268 | 23,490 | 164,450 | 128,615 | ' | ' | ' | ' |
Total other income (expense) | -34,800 | -41,540 | -68,629 | -78,224 | ' | ' | ' | ' |
Income (loss) before income taxes | 15,468 | -18,050 | 95,821 | 50,391 | ' | ' | ' | ' |
Provision (benefit) for income taxes | 5,568 | -7,649 | 32,100 | 15,621 | ' | ' | ' | ' |
Net income (loss) | 9,900 | -10,401 | 63,721 | 34,770 | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes | -706 | -41,085 | 11,489 | -42,364 | ' | ' | ' | ' |
Change in fair value of interest rate swaps, net of taxes | 684 | 953 | 1,769 | 2,261 | ' | ' | ' | ' |
Comprehensive income (loss) | 9,878 | -50,533 | 76,979 | -5,333 | ' | ' | ' | ' |
Statements of cash flows | ' | ' | ' | ' | ' | ' | ' | ' |
Cash (used in) provided by operating activities | ' | ' | -2,069 | 142,087 | ' | ' | ' | ' |
Cash paid for acquisitions, net of cash acquired | ' | ' | ' | -78,550 | ' | ' | ' | ' |
Net cash used in investing activities | ' | ' | -47,244 | -134,694 | ' | ' | ' | ' |
Dividends paid | ' | ' | -21,313 | -193,956 | ' | ' | ' | ' |
Cash used in financing activities | ' | ' | -21,528 | -176,343 | ' | ' | ' | ' |
Parent Company | As Reported | ' | ' | ' | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | 857,700 | ' | ' |
Total current assets | ' | ' | ' | ' | ' | 939,000 | ' | ' |
Intercompany | ' | ' | ' | ' | ' | 323,300 | ' | ' |
Investments in subsidiaries | ' | ' | ' | ' | ' | 3,211,100 | ' | ' |
Total assets | ' | ' | ' | ' | ' | 4,562,000 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | ' | ' | 38,400 | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | 721,800 | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | 2,937,200 | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital in excess of par | ' | ' | ' | ' | ' | 1,556,900 | ' | ' |
Retained earnings | ' | ' | ' | ' | ' | 81,500 | ' | ' |
Accumulated other comprehensive income (loss) | ' | ' | ' | ' | ' | -13,600 | ' | ' |
Total stockholder's equity | ' | ' | ' | ' | ' | 1,624,800 | ' | ' |
Total liabilities and stockholder's equity | ' | ' | ' | ' | ' | 4,562,000 | ' | ' |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | 63,900 | ' | 86,700 | ' | ' | ' | ' |
Income (loss) from operations | ' | -63,900 | ' | -86,700 | ' | ' | ' | ' |
Intercompany interest | ' | 2,400 | ' | 4,900 | ' | ' | ' | ' |
Total other income (expense) | ' | -39,500 | ' | -74,100 | ' | ' | ' | ' |
Income (loss) before income taxes | ' | -103,400 | ' | -160,800 | ' | ' | ' | ' |
Provision (benefit) for income taxes | ' | -34,400 | ' | -52,300 | ' | ' | ' | ' |
Equity in income of subsidiaries | ' | 58,600 | ' | 143,300 | ' | ' | ' | ' |
Net income (loss) | ' | -10,400 | ' | 34,800 | ' | ' | ' | ' |
Change in fair value of interest rate swaps, net of taxes | ' | 13,500 | ' | 14,200 | ' | ' | ' | ' |
Comprehensive income (loss) | ' | 3,100 | ' | 49,000 | ' | ' | ' | ' |
Statements of cash flows | ' | ' | ' | ' | ' | ' | ' | ' |
Cash (used in) provided by operating activities | ' | ' | ' | 128,600 | ' | ' | ' | ' |
Cash paid for acquisitions, net of cash acquired | ' | ' | ' | -78,100 | ' | ' | ' | ' |
Net cash used in investing activities | ' | ' | ' | -88,700 | ' | ' | ' | ' |
Dividends paid | ' | ' | ' | -194,000 | ' | ' | ' | ' |
Cash used in financing activities | ' | ' | ' | -176,300 | ' | ' | ' | ' |
Guarantor Subsidiaries | As Reported | ' | ' | ' | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Other current assets | ' | ' | ' | ' | ' | 43,100 | ' | ' |
Total current assets | ' | ' | ' | ' | ' | 790,700 | ' | ' |
Other assets | ' | ' | ' | ' | ' | 68,200 | ' | ' |
Total assets | ' | ' | ' | ' | ' | 3,583,300 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | 1,121,800 | ' | ' |
Total current liabilities | ' | ' | ' | ' | ' | 1,424,300 | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | 22,000 | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | 1,464,000 | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital in excess of par | ' | ' | ' | ' | ' | 352,000 | ' | ' |
Retained earnings | ' | ' | ' | ' | ' | 1,767,300 | ' | ' |
Total stockholder's equity | ' | ' | ' | ' | ' | 2,119,300 | ' | ' |
Total liabilities and stockholder's equity | ' | ' | ' | ' | ' | 3,583,300 | ' | ' |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | 83,800 | ' | 193,700 | ' | ' | ' | ' |
Income (loss) from operations | ' | 39,500 | ' | 122,000 | ' | ' | ' | ' |
Total other income (expense) | ' | 800 | ' | 2,900 | ' | ' | ' | ' |
Income (loss) before income taxes | ' | 40,200 | ' | 124,800 | ' | ' | ' | ' |
Provision (benefit) for income taxes | ' | 14,100 | ' | 43,700 | ' | ' | ' | ' |
Net income (loss) | ' | 26,200 | ' | 81,100 | ' | ' | ' | ' |
Comprehensive income (loss) | ' | 26,200 | ' | 81,100 | ' | ' | ' | ' |
Statements of cash flows | ' | ' | ' | ' | ' | ' | ' | ' |
Cash (used in) provided by operating activities | ' | ' | ' | 18,600 | ' | ' | ' | ' |
Cash paid for acquisitions, net of cash acquired | ' | ' | ' | -500 | ' | ' | ' | ' |
Net cash used in investing activities | ' | ' | ' | -30,400 | ' | ' | ' | ' |
Non-Guarantor Subsidiaries | As Reported | ' | ' | ' | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | 264,100 | ' | ' |
Other current assets | ' | ' | ' | ' | ' | 35,400 | ' | ' |
Total current assets | ' | ' | ' | ' | ' | 604,400 | ' | ' |
Other assets | ' | ' | ' | ' | ' | 100 | ' | ' |
Total assets | ' | ' | ' | ' | ' | 1,584,100 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | ' | ' | 135,200 | ' | ' |
Intercompany | ' | ' | ' | ' | ' | 323,300 | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | 7,500 | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | 492,300 | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital in excess of par | ' | ' | ' | ' | ' | 301,300 | ' | ' |
Retained earnings | ' | ' | ' | ' | ' | 789,300 | ' | ' |
Accumulated other comprehensive income (loss) | ' | ' | ' | ' | ' | 1,200 | ' | ' |
Total stockholder's equity | ' | ' | ' | ' | ' | 1,091,800 | ' | ' |
Total liabilities and stockholder's equity | ' | ' | ' | ' | ' | 1,584,100 | ' | ' |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | 83,700 | ' | 170,500 | ' | ' | ' | ' |
Income (loss) from operations | ' | 47,900 | ' | 93,400 | ' | ' | ' | ' |
Intercompany interest | ' | -2,400 | ' | -4,900 | ' | ' | ' | ' |
Total other income (expense) | ' | -2,800 | ' | -7,000 | ' | ' | ' | ' |
Income (loss) before income taxes | ' | 45,100 | ' | 86,400 | ' | ' | ' | ' |
Provision (benefit) for income taxes | ' | 12,600 | ' | 24,200 | ' | ' | ' | ' |
Net income (loss) | ' | 32,500 | ' | 62,200 | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes | ' | -53,600 | ' | -54,300 | ' | ' | ' | ' |
Comprehensive income (loss) | ' | -21,200 | ' | 7,900 | ' | ' | ' | ' |
Statements of cash flows | ' | ' | ' | ' | ' | ' | ' | ' |
Cash (used in) provided by operating activities | ' | ' | ' | -5,100 | ' | ' | ' | ' |
Net cash used in investing activities | ' | ' | ' | -15,600 | ' | ' | ' | ' |
Reportable Legal Entities | Parent Company | ' | ' | ' | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | 32,716 | ' | 32,716 | ' | ' | 34,549 | ' | ' |
Other current assets | 19,476 | ' | 19,476 | ' | ' | 19,033 | ' | ' |
Total current assets | 107,487 | ' | 107,487 | ' | ' | 134,938 | ' | ' |
Other assets | 51,368 | ' | 51,368 | ' | ' | 61,218 | ' | ' |
Intercompany | 2,490,442 | ' | 2,490,442 | ' | ' | 2,480,760 | ' | ' |
Investments in subsidiaries | 2,282,832 | ' | 2,282,832 | ' | ' | 2,180,814 | ' | ' |
Total assets | 5,005,847 | ' | 5,005,847 | ' | ' | 4,946,342 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | 67,856 | ' | 67,856 | ' | ' | ' | ' | ' |
Total current liabilities | 104,903 | ' | 104,903 | ' | ' | 38,407 | ' | ' |
Intercompany | 1,021,342 | ' | 1,021,342 | ' | ' | 1,091,982 | ' | ' |
Deferred income taxes | 14,151 | ' | 14,151 | ' | ' | 14,151 | ' | ' |
Total liabilities | 3,322,784 | ' | 3,322,784 | ' | ' | 3,321,503 | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital in excess of par | 1,559,482 | ' | 1,559,482 | ' | ' | 1,556,926 | ' | ' |
Retained earnings | 123,905 | ' | 123,905 | ' | ' | 81,497 | ' | ' |
Accumulated other comprehensive income (loss) | -324 | ' | -324 | ' | ' | -13,584 | ' | ' |
Total stockholder's equity | 1,683,063 | ' | 1,683,063 | ' | ' | 1,624,839 | ' | ' |
Total liabilities and stockholder's equity | 5,005,847 | ' | 5,005,847 | ' | ' | 4,946,342 | ' | ' |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | 27,813 | 33,681 | 50,085 | 56,518 | ' | ' | ' | ' |
Income (loss) from operations | -27,813 | -33,681 | -50,085 | -56,518 | ' | ' | ' | ' |
Intercompany interest | 39,121 | 44,055 | 78,829 | 83,803 | ' | ' | ' | ' |
Total other income (expense) | 5,012 | 2,170 | 10,832 | 4,768 | ' | ' | ' | ' |
Income (loss) before income taxes | -22,801 | -31,511 | -39,253 | -51,750 | ' | ' | ' | ' |
Provision (benefit) for income taxes | 51 | -7,954 | -5,318 | -14,081 | ' | ' | ' | ' |
Equity in income of subsidiaries | 32,752 | 13,156 | 97,656 | 72,439 | ' | ' | ' | ' |
Net income (loss) | 9,900 | -10,401 | 63,721 | 34,770 | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes | -706 | -41,085 | 11,489 | -42,364 | ' | ' | ' | ' |
Change in fair value of interest rate swaps, net of taxes | 684 | 953 | 1,769 | 2,261 | ' | ' | ' | ' |
Comprehensive income (loss) | 9,878 | -50,533 | 76,979 | -5,333 | ' | ' | ' | ' |
Statements of cash flows | ' | ' | ' | ' | ' | ' | ' | ' |
Cash (used in) provided by operating activities | ' | ' | -11,110 | 14,509 | ' | ' | ' | ' |
Cash paid for acquisitions, net of cash acquired | ' | ' | ' | -78,089 | ' | ' | ' | ' |
Net cash used in investing activities | ' | ' | -2,338 | -88,681 | ' | ' | ' | ' |
Dividends paid | ' | ' | -21,313 | -193,956 | ' | ' | ' | ' |
Cash used in financing activities | ' | ' | -12,613 | -62,276 | ' | ' | ' | ' |
Reportable Legal Entities | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Other current assets | 25,492 | ' | 25,492 | ' | ' | 24,104 | ' | ' |
Total current assets | 850,079 | ' | 850,079 | ' | ' | 771,635 | ' | ' |
Other assets | 8,648 | ' | 8,648 | ' | ' | 6,938 | ' | ' |
Intercompany | 1,025,750 | ' | 1,025,750 | ' | ' | 1,062,900 | ' | ' |
Total assets | 4,598,507 | ' | 4,598,507 | ' | ' | 4,565,976 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | 32,716 | ' | 32,716 | ' | ' | 34,549 | ' | ' |
Total current liabilities | 346,260 | ' | 346,260 | ' | ' | 340,126 | ' | ' |
Intercompany | 2,161,910 | ' | 2,161,910 | ' | ' | 2,157,500 | ' | ' |
Deferred income taxes | 633,316 | ' | 633,316 | ' | ' | 637,726 | ' | ' |
Total liabilities | 3,157,043 | ' | 3,157,043 | ' | ' | 3,150,002 | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital in excess of par | 1,211,581 | ' | 1,211,581 | ' | ' | 1,211,581 | ' | ' |
Retained earnings | 232,016 | ' | 232,016 | ' | ' | 208,295 | ' | ' |
Accumulated other comprehensive income (loss) | -2,133 | ' | -2,133 | ' | ' | -3,902 | ' | ' |
Total stockholder's equity | 1,441,464 | ' | 1,441,464 | ' | ' | 1,415,974 | ' | ' |
Total liabilities and stockholder's equity | 4,598,507 | ' | 4,598,507 | ' | ' | 4,565,976 | ' | ' |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | 113,790 | 114,024 | 230,670 | 223,906 | ' | ' | ' | ' |
Income (loss) from operations | 22,388 | 9,274 | 105,592 | 91,773 | ' | ' | ' | ' |
Intercompany interest | -34,204 | -41,668 | -69,002 | -78,891 | ' | ' | ' | ' |
Total other income (expense) | -35,252 | -40,893 | -69,098 | -76,019 | ' | ' | ' | ' |
Income (loss) before income taxes | -12,864 | -31,619 | 36,494 | 15,754 | ' | ' | ' | ' |
Provision (benefit) for income taxes | -5,843 | -12,343 | 12,773 | 5,514 | ' | ' | ' | ' |
Net income (loss) | -7,021 | -19,276 | 23,721 | 10,240 | ' | ' | ' | ' |
Change in fair value of interest rate swaps, net of taxes | 684 | 953 | 1,769 | 2,261 | ' | ' | ' | ' |
Comprehensive income (loss) | -6,337 | -18,323 | 25,490 | 12,501 | ' | ' | ' | ' |
Statements of cash flows | ' | ' | ' | ' | ' | ' | ' | ' |
Cash (used in) provided by operating activities | ' | ' | 9,042 | 184,619 | ' | ' | ' | ' |
Net cash used in investing activities | ' | ' | -29,864 | -29,983 | ' | ' | ' | ' |
Dividends paid | ' | ' | -5,835 | -52,416 | ' | ' | ' | ' |
Cash used in financing activities | ' | ' | -14,535 | -166,483 | ' | ' | ' | ' |
Reportable Legal Entities | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | 67,856 | ' | 67,856 | ' | ' | ' | ' | ' |
Other current assets | 34,479 | ' | 34,479 | ' | ' | 35,442 | ' | ' |
Total current assets | 419,959 | ' | 419,959 | ' | ' | 340,375 | ' | ' |
Other assets | 90 | ' | 90 | ' | ' | 79 | ' | ' |
Intercompany | ' | ' | ' | ' | ' | 29,082 | ' | ' |
Total assets | 1,419,658 | ' | 1,419,658 | ' | ' | 1,349,103 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Total current liabilities | 119,580 | ' | 119,580 | ' | ' | 135,218 | ' | ' |
Intercompany | 332,940 | ' | 332,940 | ' | ' | 323,260 | ' | ' |
Deferred income taxes | 99,547 | ' | 99,547 | ' | ' | 99,542 | ' | ' |
Total liabilities | 578,290 | ' | 578,290 | ' | ' | 584,263 | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital in excess of par | 733,411 | ' | 733,411 | ' | ' | 733,411 | ' | ' |
Retained earnings | 98,298 | ' | 98,298 | ' | ' | 30,198 | ' | ' |
Accumulated other comprehensive income (loss) | 9,659 | ' | 9,659 | ' | ' | 1,231 | ' | ' |
Total stockholder's equity | 841,368 | ' | 841,368 | ' | ' | 764,840 | ' | ' |
Total liabilities and stockholder's equity | 1,419,658 | ' | 1,419,658 | ' | ' | 1,349,103 | ' | ' |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | 97,291 | 83,726 | 190,822 | 170,516 | ' | ' | ' | ' |
Income (loss) from operations | 55,693 | 47,897 | 108,943 | 93,360 | ' | ' | ' | ' |
Intercompany interest | -4,917 | -2,387 | -9,827 | -4,912 | ' | ' | ' | ' |
Total other income (expense) | -4,560 | -2,817 | -10,363 | -6,973 | ' | ' | ' | ' |
Income (loss) before income taxes | 51,133 | 45,080 | 98,580 | 86,387 | ' | ' | ' | ' |
Provision (benefit) for income taxes | 11,360 | 12,648 | 24,645 | 24,188 | ' | ' | ' | ' |
Net income (loss) | 39,773 | 32,432 | 73,935 | 62,199 | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes | -1,486 | -35,268 | 8,429 | -32,465 | ' | ' | ' | ' |
Comprehensive income (loss) | 38,287 | -2,836 | 82,364 | 29,734 | ' | ' | ' | ' |
Statements of cash flows | ' | ' | ' | ' | ' | ' | ' | ' |
Cash (used in) provided by operating activities | ' | ' | 16,702 | 47,791 | ' | ' | ' | ' |
Cash paid for acquisitions, net of cash acquired | ' | ' | ' | -461 | ' | ' | ' | ' |
Net cash used in investing activities | ' | ' | -15,042 | -16,030 | ' | ' | ' | ' |
Dividends paid | ' | ' | -5,835 | -52,416 | ' | ' | ' | ' |
Cash used in financing activities | ' | ' | -6,050 | -52,416 | ' | ' | ' | ' |
Eliminations | ' | ' | ' | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | -100,572 | ' | -100,572 | ' | ' | -34,549 | ' | ' |
Total current assets | -105,605 | ' | -105,605 | ' | ' | -34,549 | ' | ' |
Intercompany | -3,516,192 | ' | -3,516,192 | ' | ' | -3,572,742 | ' | ' |
Investments in subsidiaries | -2,282,832 | ' | -2,282,832 | ' | ' | -2,180,814 | ' | ' |
Total assets | -5,904,629 | ' | -5,904,629 | ' | ' | -5,788,105 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | -100,572 | ' | -100,572 | ' | ' | -34,549 | ' | ' |
Total current liabilities | -105,605 | ' | -105,605 | ' | ' | -34,549 | ' | ' |
Intercompany | -3,516,192 | ' | -3,516,192 | ' | ' | -3,572,742 | ' | ' |
Total liabilities | -3,621,797 | ' | -3,621,797 | ' | ' | -3,607,291 | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital in excess of par | -1,944,992 | ' | -1,944,992 | ' | ' | -1,944,992 | ' | ' |
Retained earnings | -330,314 | ' | -330,314 | ' | ' | -238,493 | ' | ' |
Accumulated other comprehensive income (loss) | -7,526 | ' | -7,526 | ' | ' | 2,671 | ' | ' |
Total stockholder's equity | -2,282,832 | ' | -2,282,832 | ' | ' | -2,180,814 | ' | ' |
Total liabilities and stockholder's equity | -5,904,629 | ' | -5,904,629 | ' | ' | -5,788,105 | ' | ' |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | -32,752 | -13,156 | -97,656 | -72,439 | ' | ' | ' | ' |
Net income (loss) | -32,752 | -13,156 | -97,656 | -72,439 | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes | 1,486 | 35,268 | -8,429 | 32,465 | ' | ' | ' | ' |
Change in fair value of interest rate swaps, net of taxes | -684 | -953 | -1,769 | -2,261 | ' | ' | ' | ' |
Comprehensive income (loss) | -31,950 | 21,159 | -107,854 | -42,235 | ' | ' | ' | ' |
Statements of cash flows | ' | ' | ' | ' | ' | ' | ' | ' |
Cash (used in) provided by operating activities | ' | ' | -16,703 | -104,832 | ' | ' | ' | ' |
Dividends paid | ' | ' | 11,670 | 104,832 | ' | ' | ' | ' |
Cash used in financing activities | ' | ' | 11,670 | 104,832 | ' | ' | ' | ' |
Eliminations | As Reported | ' | ' | ' | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | -1,121,800 | ' | ' |
Total current assets | ' | ' | ' | ' | ' | -1,121,800 | ' | ' |
Intercompany | ' | ' | ' | ' | ' | -323,300 | ' | ' |
Investments in subsidiaries | ' | ' | ' | ' | ' | -3,211,100 | ' | ' |
Total assets | ' | ' | ' | ' | ' | -4,656,100 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | -1,121,800 | ' | ' |
Total current liabilities | ' | ' | ' | ' | ' | -1,121,800 | ' | ' |
Intercompany | ' | ' | ' | ' | ' | -323,300 | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | -1,445,000 | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital in excess of par | ' | ' | ' | ' | ' | -653,300 | ' | ' |
Retained earnings | ' | ' | ' | ' | ' | -2,556,600 | ' | ' |
Accumulated other comprehensive income (loss) | ' | ' | ' | ' | ' | -1,200 | ' | ' |
Total stockholder's equity | ' | ' | ' | ' | ' | -3,211,100 | ' | ' |
Total liabilities and stockholder's equity | ' | ' | ' | ' | ' | -4,656,100 | ' | ' |
Consolidated Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | ' | -58,600 | ' | -143,300 | ' | ' | ' | ' |
Net income (loss) | ' | -58,600 | ' | -143,300 | ' | ' | ' | ' |
Comprehensive income (loss) | ' | ($58,600) | ' | ($143,300) | ' | ' | ' | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Statements of Guarantors (Details 2) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $128,933 | ' | $198,561 | $142,076 | ' | $315,136 |
Accounts receivable, net | 166,936 | ' | 171,670 | ' | ' | ' |
Inventories | 872,507 | ' | 739,952 | ' | ' | ' |
Deferred income taxes | 24,097 | ' | 23,637 | ' | ' | ' |
Other current assets | 79,447 | ' | 78,579 | ' | ' | ' |
Total current assets | 1,271,920 | ' | 1,212,399 | ' | ' | ' |
Property, plant and equipment, net | 576,112 | ' | 571,529 | ' | ' | ' |
Goodwill | 1,266,025 | ' | 1,260,802 | ' | ' | ' |
Other intangible assets, net | 1,945,220 | ' | 1,960,351 | ' | ' | ' |
Other assets | 60,106 | ' | 68,235 | ' | ' | ' |
Total assets | 5,119,383 | ' | 5,073,316 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Current portion long-term debt | 311 | ' | 376 | ' | ' | ' |
Accounts payable | 261,116 | ' | 259,060 | ' | ' | ' |
Accrued expenses and other current liabilities | 203,711 | ' | 219,766 | ' | ' | ' |
Total current liabilities | 465,138 | ' | 479,202 | ' | ' | ' |
Long-term debt, net of current portion | 2,158,278 | ' | 2,158,405 | ' | ' | ' |
Deferred income taxes | 747,014 | ' | 751,419 | ' | ' | ' |
Other liabilities | 65,890 | ' | 59,451 | ' | ' | ' |
Total liabilities | 3,436,320 | ' | 3,448,477 | ' | ' | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' |
Common stock | ' | ' | ' | ' | ' | ' |
Capital in excess of par | 1,559,482 | ' | 1,556,926 | ' | ' | ' |
Retained earnings | 123,905 | ' | 81,497 | ' | ' | ' |
Accumulated other comprehensive income (loss) | -324 | -303 | -13,584 | -58,697 | -18,565 | -18,594 |
Total stockholder's equity | 1,683,063 | ' | 1,624,839 | ' | ' | ' |
Total liabilities and stockholder's equity | 5,119,383 | ' | 5,073,316 | ' | ' | ' |
Reportable Legal Entities | Parent Company | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 55,295 | ' | 81,356 | 47,213 | ' | 183,661 |
Intercompany | 32,716 | ' | 34,549 | ' | ' | ' |
Other current assets | 19,476 | ' | 19,033 | ' | ' | ' |
Total current assets | 107,487 | ' | 134,938 | ' | ' | ' |
Property, plant and equipment, net | 73,718 | ' | 88,612 | ' | ' | ' |
Other assets | 51,368 | ' | 61,218 | ' | ' | ' |
Intercompany loan receivable | 2,490,442 | ' | 2,480,760 | ' | ' | ' |
Investments in subsidiaries | 2,282,832 | ' | 2,180,814 | ' | ' | ' |
Total assets | 5,005,847 | ' | 4,946,342 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Intercompany | 67,856 | ' | ' | ' | ' | ' |
Accrued expenses and other current liabilities | 37,047 | ' | 38,407 | ' | ' | ' |
Total current liabilities | 104,903 | ' | 38,407 | ' | ' | ' |
Intercompany loan payable | 1,021,342 | ' | 1,091,982 | ' | ' | ' |
Long-term debt, net of current portion | 2,157,500 | ' | 2,157,500 | ' | ' | ' |
Deferred income taxes | 14,151 | ' | 14,151 | ' | ' | ' |
Other liabilities | 24,888 | ' | 19,463 | ' | ' | ' |
Total liabilities | 3,322,784 | ' | 3,321,503 | ' | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' |
Capital in excess of par | 1,559,482 | ' | 1,556,926 | ' | ' | ' |
Retained earnings | 123,905 | ' | 81,497 | ' | ' | ' |
Accumulated other comprehensive income (loss) | -324 | ' | -13,584 | ' | ' | ' |
Total stockholder's equity | 1,683,063 | ' | 1,624,839 | ' | ' | ' |
Total liabilities and stockholder's equity | 5,005,847 | ' | 4,946,342 | ' | ' | ' |
Reportable Legal Entities | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | 35,357 | 2,742 | ' | 14,589 |
Accounts receivable, net | 120,839 | ' | 127,894 | ' | ' | ' |
Inventories | 680,303 | ' | 561,276 | ' | ' | ' |
Deferred income taxes | 23,445 | ' | 23,004 | ' | ' | ' |
Other current assets | 25,492 | ' | 24,104 | ' | ' | ' |
Total current assets | 850,079 | ' | 771,635 | ' | ' | ' |
Property, plant and equipment, net | 319,672 | ' | 308,852 | ' | ' | ' |
Goodwill | 813,688 | ' | 813,688 | ' | ' | ' |
Other intangible assets, net | 1,580,670 | ' | 1,601,963 | ' | ' | ' |
Other assets | 8,648 | ' | 6,938 | ' | ' | ' |
Intercompany loan receivable | 1,025,750 | ' | 1,062,900 | ' | ' | ' |
Total assets | 4,598,507 | ' | 4,565,976 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 187,782 | ' | 195,712 | ' | ' | ' |
Intercompany | 32,716 | ' | 34,549 | ' | ' | ' |
Accrued expenses and other current liabilities | 125,762 | ' | 109,865 | ' | ' | ' |
Total current liabilities | 346,260 | ' | 340,126 | ' | ' | ' |
Intercompany loan payable | 2,161,910 | ' | 2,157,500 | ' | ' | ' |
Deferred income taxes | 633,316 | ' | 637,726 | ' | ' | ' |
Other liabilities | 15,557 | ' | 14,650 | ' | ' | ' |
Total liabilities | 3,157,043 | ' | 3,150,002 | ' | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' |
Capital in excess of par | 1,211,581 | ' | 1,211,581 | ' | ' | ' |
Retained earnings | 232,016 | ' | 208,295 | ' | ' | ' |
Accumulated other comprehensive income (loss) | -2,133 | ' | -3,902 | ' | ' | ' |
Total stockholder's equity | 1,441,464 | ' | 1,415,974 | ' | ' | ' |
Total liabilities and stockholder's equity | 4,598,507 | ' | 4,565,976 | ' | ' | ' |
Reportable Legal Entities | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 78,671 | ' | 81,848 | 92,121 | ' | 116,886 |
Accounts receivable, net | 46,097 | ' | 43,776 | ' | ' | ' |
Intercompany | 67,856 | ' | ' | ' | ' | ' |
Inventories | 192,204 | ' | 178,676 | ' | ' | ' |
Deferred income taxes | 652 | ' | 633 | ' | ' | ' |
Other current assets | 34,479 | ' | 35,442 | ' | ' | ' |
Total current assets | 419,959 | ' | 340,375 | ' | ' | ' |
Property, plant and equipment, net | 182,722 | ' | 174,065 | ' | ' | ' |
Goodwill | 452,337 | ' | 447,114 | ' | ' | ' |
Other intangible assets, net | 364,550 | ' | 358,388 | ' | ' | ' |
Other assets | 90 | ' | 79 | ' | ' | ' |
Intercompany loan receivable | ' | ' | 29,082 | ' | ' | ' |
Total assets | 1,419,658 | ' | 1,349,103 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Current portion long-term debt | 311 | ' | 376 | ' | ' | ' |
Accounts payable | 78,367 | ' | 63,348 | ' | ' | ' |
Accrued expenses and other current liabilities | 40,902 | ' | 71,494 | ' | ' | ' |
Total current liabilities | 119,580 | ' | 135,218 | ' | ' | ' |
Intercompany loan payable | 332,940 | ' | 323,260 | ' | ' | ' |
Long-term debt, net of current portion | 778 | ' | 905 | ' | ' | ' |
Deferred income taxes | 99,547 | ' | 99,542 | ' | ' | ' |
Other liabilities | 25,445 | ' | 25,338 | ' | ' | ' |
Total liabilities | 578,290 | ' | 584,263 | ' | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' |
Capital in excess of par | 733,411 | ' | 733,411 | ' | ' | ' |
Retained earnings | 98,298 | ' | 30,198 | ' | ' | ' |
Accumulated other comprehensive income (loss) | 9,659 | ' | 1,231 | ' | ' | ' |
Total stockholder's equity | 841,368 | ' | 764,840 | ' | ' | ' |
Total liabilities and stockholder's equity | 1,419,658 | ' | 1,349,103 | ' | ' | ' |
Eliminations | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | -5,033 | ' | ' | ' | ' | ' |
Intercompany | -100,572 | ' | -34,549 | ' | ' | ' |
Total current assets | -105,605 | ' | -34,549 | ' | ' | ' |
Intercompany loan receivable | -3,516,192 | ' | -3,572,742 | ' | ' | ' |
Investments in subsidiaries | -2,282,832 | ' | -2,180,814 | ' | ' | ' |
Total assets | -5,904,629 | ' | -5,788,105 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | -5,033 | ' | ' | ' | ' | ' |
Intercompany | -100,572 | ' | -34,549 | ' | ' | ' |
Total current liabilities | -105,605 | ' | -34,549 | ' | ' | ' |
Intercompany loan payable | -3,516,192 | ' | -3,572,742 | ' | ' | ' |
Total liabilities | -3,621,797 | ' | -3,607,291 | ' | ' | ' |
Stockholder's equity: | ' | ' | ' | ' | ' | ' |
Capital in excess of par | -1,944,992 | ' | -1,944,992 | ' | ' | ' |
Retained earnings | -330,314 | ' | -238,493 | ' | ' | ' |
Accumulated other comprehensive income (loss) | -7,526 | ' | 2,671 | ' | ' | ' |
Total stockholder's equity | -2,282,832 | ' | -2,180,814 | ' | ' | ' |
Total liabilities and stockholder's equity | ($5,904,629) | ' | ($5,788,105) | ' | ' | ' |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Statements of Guarantors (Details 3) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Condensed Parent Company Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' |
Net sales | $779,026 | $757,874 | $1,606,131 | $1,547,101 |
Costs and expenses: | ' | ' | ' | ' |
Cost of sales | 431,081 | 414,016 | 872,799 | 842,764 |
Advertising, promotion and catalog | 58,783 | 58,737 | 97,305 | 94,582 |
Selling, general and administrative | 238,894 | 231,431 | 471,577 | 450,940 |
Facility restructuring charges | ' | 30,200 | ' | 30,200 |
Total costs and expenses | 728,758 | 734,384 | 1,441,681 | 1,418,486 |
Income from operations | 50,268 | 23,490 | 164,450 | 128,615 |
Other income (expense): | ' | ' | ' | ' |
Interest | -33,086 | -41,516 | -67,904 | -78,648 |
Miscellaneous, net | -1,714 | -24 | -725 | 424 |
Total other income (expense) | -34,800 | -41,540 | -68,629 | -78,224 |
Income (loss) from operations before income taxes | 15,468 | -18,050 | 95,821 | 50,391 |
Provision (benefit) for income taxes | 5,568 | -7,649 | 32,100 | 15,621 |
Net income (loss) | 9,900 | -10,401 | 63,721 | 34,770 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes | -706 | -41,085 | 11,489 | -42,364 |
Change in fair value of interest rate swaps, net of taxes | 684 | 953 | 1,769 | 2,261 |
Total other comprehensive income (loss), net of tax | -22 | -40,132 | 13,258 | -40,103 |
Comprehensive income (loss) | 9,878 | -50,533 | 76,979 | -5,333 |
Reportable Legal Entities | Parent Company | ' | ' | ' | ' |
Costs and expenses: | ' | ' | ' | ' |
Selling, general and administrative | 27,813 | 33,681 | 50,085 | 56,518 |
Total costs and expenses | 27,813 | 33,681 | 50,085 | 56,518 |
Income from operations | -27,813 | -33,681 | -50,085 | -56,518 |
Other income (expense): | ' | ' | ' | ' |
Intercompany interest | 39,121 | 44,055 | 78,829 | 83,803 |
Interest | -34,204 | -41,668 | -69,002 | -78,891 |
Miscellaneous, net | 95 | -217 | 1,005 | -144 |
Total other income (expense) | 5,012 | 2,170 | 10,832 | 4,768 |
Income (loss) from operations before income taxes | -22,801 | -31,511 | -39,253 | -51,750 |
Provision (benefit) for income taxes | 51 | -7,954 | -5,318 | -14,081 |
Equity in income of subsidiaries | 32,752 | 13,156 | 97,656 | 72,439 |
Net income (loss) | 9,900 | -10,401 | 63,721 | 34,770 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes | -706 | -41,085 | 11,489 | -42,364 |
Change in fair value of interest rate swaps, net of taxes | 684 | 953 | 1,769 | 2,261 |
Total other comprehensive income (loss), net of tax | -22 | -40,132 | 13,258 | -40,103 |
Comprehensive income (loss) | 9,878 | -50,533 | 76,979 | -5,333 |
Reportable Legal Entities | Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Parent Company Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' |
Net sales | 514,810 | 528,345 | 1,085,876 | 1,091,915 |
Costs and expenses: | ' | ' | ' | ' |
Cost of sales | 330,923 | 325,402 | 672,791 | 667,875 |
Advertising, promotion and catalog | 47,709 | 49,445 | 76,823 | 78,161 |
Selling, general and administrative | 113,790 | 114,024 | 230,670 | 223,906 |
Facility restructuring charges | ' | 30,200 | ' | 30,200 |
Total costs and expenses | 492,422 | 519,071 | 980,284 | 1,000,142 |
Income from operations | 22,388 | 9,274 | 105,592 | 91,773 |
Other income (expense): | ' | ' | ' | ' |
Intercompany interest | -34,204 | -41,668 | -69,002 | -78,891 |
Interest | 605 | ' | 605 | ' |
Miscellaneous, net | -1,653 | 775 | -701 | 2,872 |
Total other income (expense) | -35,252 | -40,893 | -69,098 | -76,019 |
Income (loss) from operations before income taxes | -12,864 | -31,619 | 36,494 | 15,754 |
Provision (benefit) for income taxes | -5,843 | -12,343 | 12,773 | 5,514 |
Net income (loss) | -7,021 | -19,276 | 23,721 | 10,240 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Change in fair value of interest rate swaps, net of taxes | 684 | 953 | 1,769 | 2,261 |
Total other comprehensive income (loss), net of tax | 684 | 953 | 1,769 | 2,261 |
Comprehensive income (loss) | -6,337 | -18,323 | 25,490 | 12,501 |
Reportable Legal Entities | Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Parent Company Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' |
Net sales | 289,468 | 253,643 | 574,609 | 504,984 |
Costs and expenses: | ' | ' | ' | ' |
Cost of sales | 125,410 | 112,728 | 254,362 | 224,687 |
Advertising, promotion and catalog | 11,074 | 9,292 | 20,482 | 16,421 |
Selling, general and administrative | 97,291 | 83,726 | 190,822 | 170,516 |
Total costs and expenses | 233,775 | 205,746 | 465,666 | 411,624 |
Income from operations | 55,693 | 47,897 | 108,943 | 93,360 |
Other income (expense): | ' | ' | ' | ' |
Intercompany interest | -4,917 | -2,387 | -9,827 | -4,912 |
Interest | 513 | 152 | 493 | 243 |
Miscellaneous, net | -156 | -582 | -1,029 | -2,304 |
Total other income (expense) | -4,560 | -2,817 | -10,363 | -6,973 |
Income (loss) from operations before income taxes | 51,133 | 45,080 | 98,580 | 86,387 |
Provision (benefit) for income taxes | 11,360 | 12,648 | 24,645 | 24,188 |
Net income (loss) | 39,773 | 32,432 | 73,935 | 62,199 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes | -1,486 | -35,268 | 8,429 | -32,465 |
Total other comprehensive income (loss), net of tax | -1,486 | -35,268 | 8,429 | -32,465 |
Comprehensive income (loss) | 38,287 | -2,836 | 82,364 | 29,734 |
Eliminations | ' | ' | ' | ' |
Condensed Parent Company Statements of Operations and Comprehensive Income (Loss) | ' | ' | ' | ' |
Net sales | -25,252 | -24,114 | -54,354 | -49,798 |
Costs and expenses: | ' | ' | ' | ' |
Cost of sales | -25,252 | -24,114 | -54,354 | -49,798 |
Total costs and expenses | -25,252 | -24,114 | -54,354 | -49,798 |
Other income (expense): | ' | ' | ' | ' |
Equity in income of subsidiaries | -32,752 | -13,156 | -97,656 | -72,439 |
Net income (loss) | -32,752 | -13,156 | -97,656 | -72,439 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Foreign currency translation adjustment, net of taxes | 1,486 | 35,268 | -8,429 | 32,465 |
Change in fair value of interest rate swaps, net of taxes | -684 | -953 | -1,769 | -2,261 |
Total other comprehensive income (loss), net of tax | 802 | 34,315 | -10,198 | 30,204 |
Comprehensive income (loss) | ($31,950) | $21,159 | ($107,854) | ($42,235) |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Statements of Guarantors (Details 4) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Condensed Parent Company Statement of Cash Flows | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | ' | ' | ($2,069) | $142,087 |
Cash flows from investing activities: | ' | ' | ' | ' |
Purchase of property, plant and equipment | -25,997 | -30,174 | -47,244 | -63,692 |
Proceeds from sale of building | ' | ' | ' | 7,548 |
Cash paid for acquisitions, net of cash acquired | ' | ' | ' | -78,550 |
Net cash used in investing activities | ' | ' | -47,244 | -134,694 |
Cash flows from financing activities: | ' | ' | ' | ' |
Principal payments under long-term agreements | ' | ' | -215 | ' |
Proceeds from borrowings under the revolver | ' | ' | ' | 80,000 |
Paydowns of debt under the revolver | ' | ' | ' | -55,000 |
Payments for financing fees | ' | ' | ' | -7,387 |
Dividends paid | ' | ' | -21,313 | -193,956 |
Net cash used in financing activities | ' | ' | -21,528 | -176,343 |
Effect of exchange rate changes on cash | ' | ' | 1,213 | -4,110 |
Net decrease in cash and cash equivalents | ' | ' | -69,628 | -173,060 |
Cash and cash equivalents at beginning of period | ' | ' | 198,561 | 315,136 |
Cash and cash equivalents at end of period | 128,933 | 142,076 | 128,933 | 142,076 |
Reportable Legal Entities | Parent Company | ' | ' | ' | ' |
Condensed Parent Company Statement of Cash Flows | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | ' | ' | -11,110 | 14,509 |
Cash flows from investing activities: | ' | ' | ' | ' |
Purchase of property, plant and equipment | ' | ' | -2,338 | -18,140 |
Proceeds from sale of building | ' | ' | ' | 7,548 |
Cash paid for acquisitions, net of cash acquired | ' | ' | ' | -78,089 |
Net cash used in investing activities | ' | ' | -2,338 | -88,681 |
Cash flows from financing activities: | ' | ' | ' | ' |
Proceeds from borrowings under the revolver | ' | ' | ' | 80,000 |
Paydowns of debt under the revolver | ' | ' | ' | -55,000 |
Payments for financing fees | ' | ' | ' | -7,387 |
Dividends paid | ' | ' | -21,313 | -193,956 |
Intercompany accounts | ' | ' | 8,700 | 114,067 |
Net cash used in financing activities | ' | ' | -12,613 | -62,276 |
Net decrease in cash and cash equivalents | ' | ' | -26,061 | -136,448 |
Cash and cash equivalents at beginning of period | ' | ' | 81,356 | 183,661 |
Cash and cash equivalents at end of period | 55,295 | 47,213 | 55,295 | 47,213 |
Reportable Legal Entities | Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Parent Company Statement of Cash Flows | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | ' | ' | 9,042 | 184,619 |
Cash flows from investing activities: | ' | ' | ' | ' |
Purchase of property, plant and equipment | ' | ' | -29,864 | -29,983 |
Net cash used in investing activities | ' | ' | -29,864 | -29,983 |
Cash flows from financing activities: | ' | ' | ' | ' |
Dividends paid | ' | ' | -5,835 | -52,416 |
Intercompany accounts | ' | ' | -8,700 | -114,067 |
Net cash used in financing activities | ' | ' | -14,535 | -166,483 |
Net decrease in cash and cash equivalents | ' | ' | -35,357 | -11,847 |
Cash and cash equivalents at beginning of period | ' | ' | 35,357 | 14,589 |
Cash and cash equivalents at end of period | ' | 2,742 | ' | 2,742 |
Reportable Legal Entities | Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Parent Company Statement of Cash Flows | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | ' | ' | 16,702 | 47,791 |
Cash flows from investing activities: | ' | ' | ' | ' |
Purchase of property, plant and equipment | ' | ' | -15,042 | -15,569 |
Cash paid for acquisitions, net of cash acquired | ' | ' | ' | -461 |
Net cash used in investing activities | ' | ' | -15,042 | -16,030 |
Cash flows from financing activities: | ' | ' | ' | ' |
Principal payments under long-term agreements | ' | ' | -215 | ' |
Dividends paid | ' | ' | -5,835 | -52,416 |
Net cash used in financing activities | ' | ' | -6,050 | -52,416 |
Effect of exchange rate changes on cash | ' | ' | 1,213 | -4,110 |
Net decrease in cash and cash equivalents | ' | ' | -3,177 | -24,765 |
Cash and cash equivalents at beginning of period | ' | ' | 81,848 | 116,886 |
Cash and cash equivalents at end of period | 78,671 | 92,121 | 78,671 | 92,121 |
Eliminations | ' | ' | ' | ' |
Condensed Parent Company Statement of Cash Flows | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | ' | ' | -16,703 | -104,832 |
Cash flows from financing activities: | ' | ' | ' | ' |
Dividends paid | ' | ' | 11,670 | 104,832 |
Net cash used in financing activities | ' | ' | 11,670 | 104,832 |
Net decrease in cash and cash equivalents | ' | ' | -5,033 | ' |
Cash and cash equivalents at end of period | ($5,033) | ' | ($5,033) | ' |