Guarantor and Non-Guarantor Financial Statements (Details) (USD $) | 3 Months Ended | 12 Months Ended | | | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | 23-May-12 |
Current assets: | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | $177.70 | | | | $169.50 | | | | $177.70 | | $169.50 | | $273.40 | | | $49.80 | |
Short-term investments | 114 | | | | 129.5 | | | | 114 | | 129.5 | | | | | | |
Receivables: | | | | | | | | | | | | | | | | | |
Trade, less allowance for doubtful receivables | 129.3 | | | | 119.8 | | | | 129.3 | | 119.8 | | | | | | |
Intercompany receivables | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Other | 10.9 | | | | 13.4 | | | | 10.9 | | 13.4 | | | | | | |
Inventories | 214.7 | | | | 214.4 | | | | 214.7 | | 214.4 | | | | | | |
Prepaid expenses and other current assets | 178.6 | | | | 44.2 | | | | 178.6 | | 44.2 | | | | | | |
Total current assets | 825.2 | | | | 690.8 | | | | 825.2 | | 690.8 | | | | | | |
Investments in and advances to unconsolidated affiliates | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Property, plant and equipment — net | 454.9 | | | | 429.3 | | | | 454.9 | | 429.3 | | | | | | |
Long-term intercompany receivables | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Net asset of VEBAs | 340.1 | | | | 406 | | | | 340.1 | | 406 | | | | | | |
Deferred tax assets — net | 30.9 | | | | 69.1 | | | | 30.9 | | 69.1 | | | | | | |
Intangible assets — net | 32.1 | | | | 33.7 | | | | 32.1 | | 33.7 | | | | | | |
Goodwill | 37.2 | | | | 37.2 | | | | 37.2 | | 37.2 | | | | | | |
Other assets | 23.3 | | | | 104.8 | | | | 23.3 | | 104.8 | | | | | | |
Total | 1,743.70 | | | | 1,770.90 | | | | 1,743.70 | | 1,770.90 | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | |
Accounts payable | 81.4 | | | | 62.9 | | | | 81.4 | | 62.9 | | | | | | |
Intercompany payable | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Accrued salaries, wages and related expenses | 39.6 | | | | 42.7 | | | | 39.6 | | 42.7 | | | | | | |
Other accrued liabilities | 132.8 | | | | 44.8 | | | | 132.8 | | 44.8 | | | | | | |
Current portion of long-term debt | 172.5 | | | | 0 | | | | 172.5 | | 0 | | | | | | |
Short-term capital leases | 0.1 | | | | 0.2 | | | | 0.1 | | 0.2 | | | | | | |
Total current liabilities | 426.4 | | | | 150.6 | | | | 426.4 | | 150.6 | | | | | | |
Net liability of VEBA | 17.2 | | | | 0 | | | | 17.2 | | 0 | | | | | | |
Deferred tax liabilities | 0.9 | | | | 1.2 | | | | 0.9 | | 1.2 | | | | | | |
Long-term intercompany payable | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Long-term liabilities | 58.3 | | | | 146.4 | | | | 58.3 | | 146.4 | | | | | | |
Long-term debt | 225 | | | | 388.5 | | | | 225 | | 388.5 | | | | | | |
Total liabilities | 727.8 | | | | 686.7 | | | | 727.8 | | 686.7 | | | | | | |
Total stockholders’ equity | 1,015.90 | | | | 1,084.20 | | | | 1,015.90 | | 1,084.20 | | 1,070.80 | | 872.8 | | |
Total | 1,743.70 | | | | 1,770.90 | | | | 1,743.70 | | 1,770.90 | | | | | | |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | | | | | | | | | | | | | | | | | |
Net sales | 338 | 338.9 | 344.1 | 335.1 | 311.3 | 319.9 | 328.9 | 337.4 | 1,356.10 | | 1,297.50 | | 1,360.10 | | | | |
Cost of products sold: | | | | | | | | | | | | | | | | | |
Cost of products sold, excluding depreciation and amortization and other items | 278.7 | 280.4 | 275.5 | 282.9 | 254.3 | 259.5 | 261.5 | 263.6 | 1,117.50 | | 1,038.90 | | 1,116.20 | | | | |
Unrealized losses (gains) on derivative instruments | 10.4 | 3.6 | -1.6 | -2 | -4.1 | -1.5 | 4.2 | 0.7 | 10.4 | | -0.7 | | -15.2 | | | | |
Depreciation and amortization | | | | | | | | | 31.1 | | 28.1 | | 26.5 | | | | |
Selling, administrative, research and development and general | | | | | | | | | 81.4 | | 80.4 | | 74.1 | | | | |
Non-cash defined benefit net periodic benefit income | | | | | | | | | -23.5 | | -22 | | -11.5 | | | | |
Defined benefit plan, net periodic benefit cost - VEBAs | | | | | | | | | -23.7 | | -22.5 | | -11.9 | | | | |
Total selling, administrative, research and development and general | | | | | | | | | 57.7 | | 57.9 | | 62.2 | | | | |
Other operating charges, net | | | | | | | | | 1.5 | | 0 | | 4.5 | | | | |
Total costs and expenses | | | | | | | | | 1,218.20 | | 1,124.20 | | 1,194.20 | | | | |
Operating (loss) income | 26.8 | 32.6 | 46.4 | 32.1 | 41.6 | 41.6 | 40.1 | 50 | 137.9 | | 173.3 | | 165.9 | | | | |
Interest expense | | | | | | | | | -37.5 | | -35.7 | | -29.1 | | | | |
Other (expense) income: | | | | | | | | | | | | | | | | | |
Other income, net | | | | | | | | | 6.7 | | 5.6 | | 2.8 | | | | |
(Loss) income before income taxes | | | | | | | | | 107.1 | | 143.2 | | 139.6 | | | | |
Income tax provision | | | | | | | | | -35.3 | | -38.4 | | -53.8 | | | | |
Earnings in equity of subsidiaries | | | | | | | | | 0 | | 0 | | 0 | | | | |
Net income | 15.6 | 15.9 | 24.5 | 15.8 | 27.3 | 25.4 | 18.6 | 33.5 | 71.8 | | 104.8 | | 85.8 | | | | |
Comprehensive (loss) income | | | | | | | | | -3.6 | | 110.1 | | 144.8 | | | | |
Cash flows from operating activities: | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | | | | | 124.1 | | 111.7 | | 152.4 | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
Capital expenditures | | | | | | | | | -59.4 | | -70.4 | | -44.1 | | | | |
Payments to Acquire Available-for-sale Securities | | | | | | | | | 93.5 | | 227.8 | | 85 | | | | |
Proceeds from disposal of property, plant and equipment | | | | | | | | | 0 | | 0 | | 0.3 | | | | |
Proceeds from disposition of available for sale securities | | | | | | | | | 108.2 | | 183.1 | | 0 | | | | |
Change in restricted cash | | | | | | | | | 0 | | 1.7 | | 6.9 | | | | |
Net cash used in investing activities | | | | | | | | | -44.7 | | -113.4 | | -121.9 | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
Proceeds from issuance of Senior Notes | | | | | | | | | 0 | [1] | 0 | [1] | 225 | [1] | | | |
Repayments of capital lease | | | | | | | | | -0.1 | [1] | -0.1 | [1] | -0.1 | [1] | | | |
Repayment of promissory notes | | | | | | | | | 0 | [1] | 0 | [1] | -4.7 | [1] | | | |
Cash paid for financing costs | | | | | | | | | 0 | [1] | 0 | [1] | -6.6 | [1] | | | |
Repurchase of common stock | | | | | | | | | -44.1 | [1] | -78.3 | [1] | 0 | [1] | | | |
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest | | | | | | | | | 0.8 | [1] | 1.1 | [1] | 1.3 | [1] | | | |
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares | | | | | | | | | -2.4 | [1] | -2.5 | [1] | -2.2 | [1] | | | |
Cash dividend paid to stockholders | | | | | | | | | -25.4 | [1] | -23 | [1] | -19.6 | [1] | | | |
Cash dividend returned to the Company | | | 0.6 | | | | | | 0 | [1] | 0.6 | [1] | 0 | [1] | | | |
Intercompany loan | | | | | | | | | 0 | | 0 | | 0 | | | | |
Net cash provided by (used in) financing activities | | | | | | | | | -71.2 | [1] | -102.2 | [1] | 193.1 | [1] | | | |
Net increase (decrease) in cash and cash equivalents during the period | | | | | | | | | 8.2 | | -103.9 | | 223.6 | | | | |
Cash and cash equivalents at beginning of period | | | | 169.5 | | | | 273.4 | 169.5 | | 273.4 | | 49.8 | | | 49.8 | |
Cash and cash equivalents at end of period | 177.7 | | | | 169.5 | | | | 177.7 | | 169.5 | | 273.4 | | | 49.8 | |
Principal amount of notes | 225 | | | | 225 | | | | 225 | | 225 | | | | | | |
Ownership interest by parent | 100.00% | | | | | | | | 100.00% | | | | | | | | |
Parent | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 0 | | | | 5 | | | | 0 | | 5 | | 5 | | | 5 | |
Short-term investments | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Receivables: | | | | | | | | | | | | | | | | | |
Trade, less allowance for doubtful receivables | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Intercompany receivables | 204.2 | | | | 0 | | | | 204.2 | | 0 | | | | | | |
Other | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Inventories | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Prepaid expenses and other current assets | 85.1 | | | | 0.1 | | | | 85.1 | | 0.1 | | | | | | |
Total current assets | 289.3 | | | | 5.1 | | | | 289.3 | | 5.1 | | | | | | |
Investments in and advances to unconsolidated affiliates | 1,209.20 | | | | 1,437.90 | | | | 1,209.20 | | 1,437.90 | | | | | | |
Property, plant and equipment — net | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Long-term intercompany receivables | 0 | | | | 31.3 | | | | 0 | | 31.3 | | | | | | |
Net asset of VEBAs | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Deferred tax assets — net | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Intangible assets — net | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Goodwill | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Other assets | 4.4 | | | | 86.2 | | | | 4.4 | | 86.2 | | | | | | |
Total | 1,502.90 | | | | 1,560.50 | | | | 1,502.90 | | 1,560.50 | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | |
Accounts payable | 1.3 | | | | 1.1 | | | | 1.3 | | 1.1 | | | | | | |
Intercompany payable | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Accrued salaries, wages and related expenses | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Other accrued liabilities | 88.2 | | | | 3.5 | | | | 88.2 | | 3.5 | | | | | | |
Current portion of long-term debt | 172.5 | | | | | | | | 172.5 | | | | | | | | |
Short-term capital leases | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Total current liabilities | 262 | | | | 4.6 | | | | 262 | | 4.6 | | | | | | |
Net liability of VEBA | 0 | | | | | | | | 0 | | | | | | | | |
Deferred tax liabilities | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Long-term intercompany payable | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Long-term liabilities | 0 | | | | 83.2 | | | | 0 | | 83.2 | | | | | | |
Long-term debt | 225 | | | | 388.5 | | | | 225 | | 388.5 | | | | | | |
Total liabilities | 487 | | | | 476.3 | | | | 487 | | 476.3 | | | | | | |
Total stockholders’ equity | 1,015.90 | | | | 1,084.20 | | | | 1,015.90 | | 1,084.20 | | | | | | |
Total | 1,502.90 | | | | 1,560.50 | | | | 1,502.90 | | 1,560.50 | | | | | | |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | | | | | | | | | | | | | | | | | |
Net sales | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cost of products sold: | | | | | | | | | | | | | | | | | |
Cost of products sold, excluding depreciation and amortization and other items | | | | | | | | | 0 | | 0 | | 0 | | | | |
Unrealized losses (gains) on derivative instruments | | | | | | | | | 0 | | 0 | | 0 | | | | |
Depreciation and amortization | | | | | | | | | 0 | | 0 | | 0 | | | | |
Selling, administrative, research and development and general | | | | | | | | | 4.1 | | 3.8 | | 2 | | | | |
Non-cash defined benefit net periodic benefit income | | | | | | | | | 0 | | 0 | | 0 | | | | |
Total selling, administrative, research and development and general | | | | | | | | | 4.1 | | 3.8 | | 2 | | | | |
Other operating charges, net | | | | | | | | | 0 | | | | 0 | | | | |
Total costs and expenses | | | | | | | | | 4.1 | | 3.8 | | 2 | | | | |
Operating (loss) income | | | | | | | | | -4.1 | | -3.8 | | -2 | | | | |
Interest expense | | | | | | | | | -37.5 | | -36.6 | | -28.2 | | | | |
Other (expense) income: | | | | | | | | | | | | | | | | | |
Other income, net | | | | | | | | | 3.7 | | 3.9 | | 0.8 | | | | |
(Loss) income before income taxes | | | | | | | | | -37.9 | | -36.5 | | -29.4 | | | | |
Income tax provision | | | | | | | | | 0 | | 0 | | 0 | | | | |
Earnings in equity of subsidiaries | | | | | | | | | 109.7 | | 141.3 | | 115.2 | | | | |
Net income | | | | | | | | | 71.8 | | 104.8 | | 85.8 | | | | |
Comprehensive (loss) income | | | | | | | | | -3.6 | | 110.1 | | 144.8 | | | | |
Cash flows from operating activities: | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | | | | | 35.6 | | -29.2 | | -17.8 | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
Capital expenditures | | | | | | | | | 0 | | 0 | | 0 | | | | |
Payments to Acquire Available-for-sale Securities | | | | | | | | | 0 | | 0 | | 0 | | | | |
Proceeds from disposal of property, plant and equipment | | | | | | | | | | | | | 0 | | | | |
Proceeds from disposition of available for sale securities | | | | | | | | | 0 | | 0 | | | | | | |
Change in restricted cash | | | | | | | | | | | 0 | | 6.9 | | | | |
Net cash used in investing activities | | | | | | | | | 0 | | 0 | | 6.9 | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
Proceeds from issuance of Senior Notes | | | | | | | | | | | | | 225 | | | | |
Repayments of capital lease | | | | | | | | | 0 | | 0 | | 0 | | | | |
Repayment of promissory notes | | | | | | | | | | | | | 0 | | | | |
Cash paid for financing costs | | | | | | | | | | | | | -6.6 | | | | |
Repurchase of common stock | | | | | | | | | -44.1 | | -78.3 | | | | | | |
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares | | | | | | | | | -2.4 | | -2.5 | | -2.2 | | | | |
Cash dividend paid to stockholders | | | | | | | | | -25.4 | | -23 | | -19.6 | | | | |
Cash dividend returned to the Company | | | | | | | | | | | 0.6 | | | | | | |
Intercompany loan | | | | | | | | | 31.3 | | 132.4 | | -185.7 | | | | |
Net cash provided by (used in) financing activities | | | | | | | | | -40.6 | | 29.2 | | 10.9 | | | | |
Net increase (decrease) in cash and cash equivalents during the period | | | | | | | | | -5 | | 0 | | 0 | | | | |
Cash and cash equivalents at beginning of period | | | | 5 | | | | 5 | 5 | | 5 | | | | | 5 | |
Cash and cash equivalents at end of period | 0 | | | | 5 | | | | 0 | | 5 | | 5 | | | 5 | |
Guarantor Subsidiaries | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 175.3 | | | | 157.7 | | | | 175.3 | | 157.7 | | 266 | | | 43 | |
Short-term investments | 114 | | | | 129.5 | | | | 114 | | 129.5 | | | | | | |
Receivables: | | | | | | | | | | | | | | | | | |
Trade, less allowance for doubtful receivables | 126.1 | | | | 117.7 | | | | 126.1 | | 117.7 | | | | | | |
Intercompany receivables | 4 | | | | 0.1 | | | | 4 | | 0.1 | | | | | | |
Other | 5.6 | | | | 5.3 | | | | 5.6 | | 5.3 | | | | | | |
Inventories | 208 | | | | 208.6 | | | | 208 | | 208.6 | | | | | | |
Prepaid expenses and other current assets | 93.1 | | | | 43.7 | | | | 93.1 | | 43.7 | | | | | | |
Total current assets | 726.1 | | | | 662.6 | | | | 726.1 | | 662.6 | | | | | | |
Investments in and advances to unconsolidated affiliates | 32.5 | | | | 26.5 | | | | 32.5 | | 26.5 | | | | | | |
Property, plant and equipment — net | 437.4 | | | | 414 | | | | 437.4 | | 414 | | | | | | |
Long-term intercompany receivables | 0 | | | | 1.6 | | | | 0 | | 1.6 | | | | | | |
Net asset of VEBAs | 340.1 | | | | 406 | | | | 340.1 | | 406 | | | | | | |
Deferred tax assets — net | 23.8 | | | | 60.2 | | | | 23.8 | | 60.2 | | | | | | |
Intangible assets — net | 32.1 | | | | 33.7 | | | | 32.1 | | 33.7 | | | | | | |
Goodwill | 37.2 | | | | 37.2 | | | | 37.2 | | 37.2 | | | | | | |
Other assets | 18.8 | | | | 18.5 | | | | 18.8 | | 18.5 | | | | | | |
Total | 1,648 | | | | 1,660.30 | | | | 1,648 | | 1,660.30 | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | |
Accounts payable | 73.8 | | | | 56.3 | | | | 73.8 | | 56.3 | | | | | | |
Intercompany payable | 221.3 | | | | 13.9 | | | | 221.3 | | 13.9 | | | | | | |
Accrued salaries, wages and related expenses | 36.5 | | | | 39.3 | | | | 36.5 | | 39.3 | | | | | | |
Other accrued liabilities | 43.8 | | | | 39.9 | | | | 43.8 | | 39.9 | | | | | | |
Current portion of long-term debt | 0 | | | | | | | | 0 | | | | | | | | |
Short-term capital leases | 0.1 | | | | 0.2 | | | | 0.1 | | 0.2 | | | | | | |
Total current liabilities | 375.5 | | | | 149.6 | | | | 375.5 | | 149.6 | | | | | | |
Net liability of VEBA | 17.2 | | | | | | | | 17.2 | | | | | | | | |
Deferred tax liabilities | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Long-term intercompany payable | 15.9 | | | | 40.7 | | | | 15.9 | | 40.7 | | | | | | |
Long-term liabilities | 50.3 | | | | 52 | | | | 50.3 | | 52 | | | | | | |
Long-term debt | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Total liabilities | 458.9 | | | | 242.3 | | | | 458.9 | | 242.3 | | | | | | |
Total stockholders’ equity | 1,189.10 | | | | 1,418 | | | | 1,189.10 | | 1,418 | | | | | | |
Total | 1,648 | | | | 1,660.30 | | | | 1,648 | | 1,660.30 | | | | | | |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | | | | | | | | | | | | | | | | | |
Net sales | | | | | | | | | 1,323.40 | | 1,275.20 | | 1,326 | | | | |
Cost of products sold: | | | | | | | | | | | | | | | | | |
Cost of products sold, excluding depreciation and amortization and other items | | | | | | | | | 1,098.30 | | 1,026 | | 1,090 | | | | |
Unrealized losses (gains) on derivative instruments | | | | | | | | | 10.4 | | -0.7 | | -15.2 | | | | |
Depreciation and amortization | | | | | | | | | 30 | | 27 | | 25.5 | | | | |
Selling, administrative, research and development and general | | | | | | | | | 69.7 | | 70.1 | | 69.6 | | | | |
Non-cash defined benefit net periodic benefit income | | | | | | | | | -23.7 | | | | -11.9 | | | | |
Total selling, administrative, research and development and general | | | | | | | | | 46 | | 47.6 | | 57.7 | | | | |
Other operating charges, net | | | | | | | | | 1.5 | | | | 4.5 | | | | |
Total costs and expenses | | | | | | | | | 1,186.20 | | 1,099.90 | | 1,162.50 | | | | |
Operating (loss) income | | | | | | | | | 137.2 | | 175.3 | | 163.5 | | | | |
Interest expense | | | | | | | | | -0.6 | | 0.5 | | -1 | | | | |
Other (expense) income: | | | | | | | | | | | | | | | | | |
Other income, net | | | | | | | | | 3.2 | | 2 | | 1.5 | | | | |
(Loss) income before income taxes | | | | | | | | | 139.8 | | 177.8 | | 164 | | | | |
Income tax provision | | | | | | | | | -50.2 | | -68.1 | | -62.6 | | | | |
Earnings in equity of subsidiaries | | | | | | | | | 6 | | 17.6 | | 2.6 | | | | |
Net income | | | | | | | | | 95.6 | | 127.3 | | 104 | | | | |
Comprehensive (loss) income | | | | | | | | | 19.9 | | 131.6 | | 164 | | | | |
Cash flows from operating activities: | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | | | | | 81.8 | | 131.7 | | 164.3 | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
Capital expenditures | | | | | | | | | -56.4 | | -66.5 | | -42.6 | | | | |
Payments to Acquire Available-for-sale Securities | | | | | | | | | 93.5 | | 227.8 | | 85 | | | | |
Proceeds from disposal of property, plant and equipment | | | | | | | | | | | | | 0.3 | | | | |
Proceeds from disposition of available for sale securities | | | | | | | | | 108.2 | | 183.1 | | | | | | |
Change in restricted cash | | | | | | | | | | | 0.7 | | 0.4 | | | | |
Net cash used in investing activities | | | | | | | | | -41.7 | | -110.5 | | -126.9 | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
Proceeds from issuance of Senior Notes | | | | | | | | | | | | | 0 | | | | |
Repayments of capital lease | | | | | | | | | -0.1 | | -0.1 | | -0.1 | | | | |
Repayment of promissory notes | | | | | | | | | | | | | -4.7 | | | | |
Cash paid for financing costs | | | | | | | | | | | | | 0 | | | | |
Repurchase of common stock | | | | | | | | | 0 | | 0 | | | | | | |
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest | | | | | | | | | 0.8 | | 1.1 | | 1.3 | | | | |
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cash dividend paid to stockholders | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cash dividend returned to the Company | | | | | | | | | | | 0 | | | | | | |
Intercompany loan | | | | | | | | | -23.2 | | -130.5 | | 189.1 | | | | |
Net cash provided by (used in) financing activities | | | | | | | | | -22.5 | | -129.5 | | 185.6 | | | | |
Net increase (decrease) in cash and cash equivalents during the period | | | | | | | | | 17.6 | | -108.3 | | 223 | | | | |
Cash and cash equivalents at beginning of period | | | | 157.7 | | | | 266 | 157.7 | | 266 | | | | | 43 | |
Cash and cash equivalents at end of period | 175.3 | | | | 157.7 | | | | 175.3 | | 157.7 | | 266 | | | 43 | |
Non-Guarantor Subsidiaries | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 2.4 | | | | 6.8 | | | | 2.4 | | 6.8 | | 2.4 | | | 1.8 | |
Short-term investments | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Receivables: | | | | | | | | | | | | | | | | | |
Trade, less allowance for doubtful receivables | 3.2 | | | | 2.1 | | | | 3.2 | | 2.1 | | | | | | |
Intercompany receivables | 0.9 | | | | 0.2 | | | | 0.9 | | 0.2 | | | | | | |
Other | 5.3 | | | | 8.1 | | | | 5.3 | | 8.1 | | | | | | |
Inventories | 7.6 | | | | 6.4 | | | | 7.6 | | 6.4 | | | | | | |
Prepaid expenses and other current assets | 0.4 | | | | 0.4 | | | | 0.4 | | 0.4 | | | | | | |
Total current assets | 19.8 | | | | 24 | | | | 19.8 | | 24 | | | | | | |
Investments in and advances to unconsolidated affiliates | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Property, plant and equipment — net | 17.5 | | | | 15.3 | | | | 17.5 | | 15.3 | | | | | | |
Long-term intercompany receivables | 15.9 | | | | 9.5 | | | | 15.9 | | 9.5 | | | | | | |
Net asset of VEBAs | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Deferred tax assets — net | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Intangible assets — net | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Goodwill | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Other assets | 0.1 | | | | 0.1 | | | | 0.1 | | 0.1 | | | | | | |
Total | 53.3 | | | | 48.9 | | | | 53.3 | | 48.9 | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | |
Accounts payable | 6.3 | | | | 5.5 | | | | 6.3 | | 5.5 | | | | | | |
Intercompany payable | 3.3 | | | | 0.1 | | | | 3.3 | | 0.1 | | | | | | |
Accrued salaries, wages and related expenses | 3.1 | | | | 3.4 | | | | 3.1 | | 3.4 | | | | | | |
Other accrued liabilities | 0.8 | | | | 1.4 | | | | 0.8 | | 1.4 | | | | | | |
Current portion of long-term debt | 0 | | | | | | | | 0 | | | | | | | | |
Short-term capital leases | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Total current liabilities | 13.5 | | | | 10.4 | | | | 13.5 | | 10.4 | | | | | | |
Net liability of VEBA | 0 | | | | | | | | 0 | | | | | | | | |
Deferred tax liabilities | 0.9 | | | | 1.2 | | | | 0.9 | | 1.2 | | | | | | |
Long-term intercompany payable | 0 | | | | 1.7 | | | | 0 | | 1.7 | | | | | | |
Long-term liabilities | 8 | | | | 11.2 | | | | 8 | | 11.2 | | | | | | |
Long-term debt | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Total liabilities | 22.4 | | | | 24.5 | | | | 22.4 | | 24.5 | | | | | | |
Total stockholders’ equity | 30.9 | | | | 24.4 | | | | 30.9 | | 24.4 | | | | | | |
Total | 53.3 | | | | 48.9 | | | | 53.3 | | 48.9 | | | | | | |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | | | | | | | | | | | | | | | | | |
Net sales | | | | | | | | | 133.9 | | 118 | | 124 | | | | |
Cost of products sold: | | | | | | | | | | | | | | | | | |
Cost of products sold, excluding depreciation and amortization and other items | | | | | | | | | 117.8 | | 105.7 | | 110.2 | | | | |
Unrealized losses (gains) on derivative instruments | | | | | | | | | 0 | | 0 | | 0 | | | | |
Depreciation and amortization | | | | | | | | | 1.1 | | 1.1 | | 1 | | | | |
Selling, administrative, research and development and general | | | | | | | | | 9.9 | | 8.9 | | 8.2 | | | | |
Non-cash defined benefit net periodic benefit income | | | | | | | | | 0 | | 0 | | 0 | | | | |
Total selling, administrative, research and development and general | | | | | | | | | 9.9 | | 8.9 | | 8.2 | | | | |
Other operating charges, net | | | | | | | | | 0 | | | | 0 | | | | |
Total costs and expenses | | | | | | | | | 128.8 | | 115.7 | | 119.4 | | | | |
Operating (loss) income | | | | | | | | | 5.1 | | 2.3 | | 4.6 | | | | |
Interest expense | | | | | | | | | 0 | | 0 | | 0 | | | | |
Other (expense) income: | | | | | | | | | | | | | | | | | |
Other income, net | | | | | | | | | 0.4 | | 0 | | 0.6 | | | | |
(Loss) income before income taxes | | | | | | | | | 5.5 | | 2.3 | | 5.2 | | | | |
Income tax provision | | | | | | | | | 0.8 | | 15.7 | | -2.3 | | | | |
Earnings in equity of subsidiaries | | | | | | | | | 0 | | 0 | | 0 | | | | |
Net income | | | | | | | | | 6.3 | | 18 | | 2.9 | | | | |
Comprehensive (loss) income | | | | | | | | | 6.6 | | 19 | | 1.9 | | | | |
Cash flows from operating activities: | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | | | | | 6.7 | | 9.2 | | 5.9 | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
Capital expenditures | | | | | | | | | -3 | | -3.9 | | -1.5 | | | | |
Payments to Acquire Available-for-sale Securities | | | | | | | | | 0 | | 0 | | 0 | | | | |
Proceeds from disposal of property, plant and equipment | | | | | | | | | | | | | 0 | | | | |
Proceeds from disposition of available for sale securities | | | | | | | | | 0 | | 0 | | | | | | |
Change in restricted cash | | | | | | | | | | | 1 | | -0.4 | | | | |
Net cash used in investing activities | | | | | | | | | -3 | | -2.9 | | -1.9 | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
Proceeds from issuance of Senior Notes | | | | | | | | | | | | | 0 | | | | |
Repayments of capital lease | | | | | | | | | 0 | | 0 | | 0 | | | | |
Repayment of promissory notes | | | | | | | | | | | | | 0 | | | | |
Cash paid for financing costs | | | | | | | | | | | | | 0 | | | | |
Repurchase of common stock | | | | | | | | | 0 | | 0 | | | | | | |
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cash dividend paid to stockholders | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cash dividend returned to the Company | | | | | | | | | | | 0 | | | | | | |
Intercompany loan | | | | | | | | | -8.1 | | -1.9 | | -3.4 | | | | |
Net cash provided by (used in) financing activities | | | | | | | | | -8.1 | | -1.9 | | -3.4 | | | | |
Net increase (decrease) in cash and cash equivalents during the period | | | | | | | | | -4.4 | | 4.4 | | 0.6 | | | | |
Cash and cash equivalents at beginning of period | | | | 6.8 | | | | 2.4 | 6.8 | | 2.4 | | | | | 1.8 | |
Cash and cash equivalents at end of period | 2.4 | | | | 6.8 | | | | 2.4 | | 6.8 | | 2.4 | | | 1.8 | |
Consolidating Adjustments | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 0 | | | | 0 | | | | 0 | | 0 | | 0 | | | 0 | |
Short-term investments | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Receivables: | | | | | | | | | | | | | | | | | |
Trade, less allowance for doubtful receivables | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Intercompany receivables | -209.1 | | | | -0.3 | | | | -209.1 | | -0.3 | | | | | | |
Other | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Inventories | -0.9 | | | | -0.6 | | | | -0.9 | | -0.6 | | | | | | |
Prepaid expenses and other current assets | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Total current assets | -210 | | | | -0.9 | | | | -210 | | -0.9 | | | | | | |
Investments in and advances to unconsolidated affiliates | -1,241.70 | | | | -1,464.40 | | | | -1,241.70 | | -1,464.40 | | | | | | |
Property, plant and equipment — net | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Long-term intercompany receivables | -15.9 | | | | -42.4 | | | | -15.9 | | -42.4 | | | | | | |
Net asset of VEBAs | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Deferred tax assets — net | 7.1 | | | | 8.9 | | | | 7.1 | | 8.9 | | | | | | |
Intangible assets — net | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Goodwill | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Other assets | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Total | -1,460.50 | | | | -1,498.80 | | | | -1,460.50 | | -1,498.80 | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | |
Accounts payable | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Intercompany payable | -224.6 | | | | -14 | | | | -224.6 | | -14 | | | | | | |
Accrued salaries, wages and related expenses | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Other accrued liabilities | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Current portion of long-term debt | 0 | | | | | | | | 0 | | | | | | | | |
Short-term capital leases | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Total current liabilities | -224.6 | | | | -14 | | | | -224.6 | | -14 | | | | | | |
Net liability of VEBA | 0 | | | | | | | | 0 | | | | | | | | |
Deferred tax liabilities | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Long-term intercompany payable | -15.9 | | | | -42.4 | | | | -15.9 | | -42.4 | | | | | | |
Long-term liabilities | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Long-term debt | 0 | | | | 0 | | | | 0 | | 0 | | | | | | |
Total liabilities | -240.5 | | | | -56.4 | | | | -240.5 | | -56.4 | | | | | | |
Total stockholders’ equity | -1,220 | | | | -1,442.40 | | | | -1,220 | | -1,442.40 | | | | | | |
Total | -1,460.50 | | | | -1,498.80 | | | | -1,460.50 | | -1,498.80 | | | | | | |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | | | | | | | | | | | | | | | | | |
Net sales | | | | | | | | | -101.2 | | -95.7 | | -89.9 | | | | |
Cost of products sold: | | | | | | | | | | | | | | | | | |
Cost of products sold, excluding depreciation and amortization and other items | | | | | | | | | -98.6 | | -92.8 | | -84 | | | | |
Unrealized losses (gains) on derivative instruments | | | | | | | | | 0 | | 0 | | 0 | | | | |
Depreciation and amortization | | | | | | | | | 0 | | 0 | | 0 | | | | |
Selling, administrative, research and development and general | | | | | | | | | -2.3 | | -2.4 | | -5.7 | | | | |
Non-cash defined benefit net periodic benefit income | | | | | | | | | 0 | | 0 | | 0 | | | | |
Total selling, administrative, research and development and general | | | | | | | | | -2.3 | | -2.4 | | -5.7 | | | | |
Other operating charges, net | | | | | | | | | 0 | | | | 0 | | | | |
Total costs and expenses | | | | | | | | | -100.9 | | -95.2 | | -89.7 | | | | |
Operating (loss) income | | | | | | | | | -0.3 | | -0.5 | | -0.2 | | | | |
Interest expense | | | | | | | | | 0.6 | | 0.4 | | 0.1 | | | | |
Other (expense) income: | | | | | | | | | | | | | | | | | |
Other income, net | | | | | | | | | -0.6 | | -0.3 | | -0.1 | | | | |
(Loss) income before income taxes | | | | | | | | | -0.3 | | -0.4 | | -0.2 | | | | |
Income tax provision | | | | | | | | | 14.1 | | 14 | | 11.1 | | | | |
Earnings in equity of subsidiaries | | | | | | | | | -115.7 | | -158.9 | | -117.8 | | | | |
Net income | | | | | | | | | -101.9 | | -145.3 | | -106.9 | | | | |
Comprehensive (loss) income | | | | | | | | | -26.5 | | -150.6 | | -165.9 | | | | |
Cash flows from operating activities: | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
Capital expenditures | | | | | | | | | 0 | | 0 | | 0 | | | | |
Payments to Acquire Available-for-sale Securities | | | | | | | | | 0 | | 0 | | 0 | | | | |
Proceeds from disposal of property, plant and equipment | | | | | | | | | | | | | 0 | | | | |
Proceeds from disposition of available for sale securities | | | | | | | | | 0 | | 0 | | | | | | |
Change in restricted cash | | | | | | | | | | | 0 | | 0 | | | | |
Net cash used in investing activities | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
Proceeds from issuance of Senior Notes | | | | | | | | | | | | | 0 | | | | |
Repayments of capital lease | | | | | | | | | 0 | | 0 | | 0 | | | | |
Repayment of promissory notes | | | | | | | | | | | | | 0 | | | | |
Cash paid for financing costs | | | | | | | | | | | | | 0 | | | | |
Repurchase of common stock | | | | | | | | | 0 | | 0 | | | | | | |
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cash dividend paid to stockholders | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cash dividend returned to the Company | | | | | | | | | | | 0 | | | | | | |
Intercompany loan | | | | | | | | | 0 | | 0 | | 0 | | | | |
Net cash provided by (used in) financing activities | | | | | | | | | 0 | | 0 | | 0 | | | | |
Net increase (decrease) in cash and cash equivalents during the period | | | | | | | | | 0 | | 0 | | 0 | | | | |
Cash and cash equivalents at beginning of period | | | | 0 | | | | 0 | 0 | | 0 | | | | | 0 | |
Cash and cash equivalents at end of period | 0 | | | | 0 | | | | 0 | | 0 | | 0 | | | 0 | |
Senior Notes | | | | | | | | | | | | | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
Principal amount of notes | | | | | | | | | | | | | | | | | 225 |
VEBAs [Member] | | | | | | | | | | | | | | | | | |
Cost of products sold: | | | | | | | | | | | | | | | | | |
Non-cash defined benefit net periodic benefit income | | | | | | | | | ($23.70) | | ($22.50) | | ($11.90) | | | | |
|
[1] | See Note 14 for the supplemental disclosure on non-cash transactions. |