Annual report pursuant to Section 13 and 15(d)

Condensed Consolidating Information (Tables)

v3.3.0.814
Condensed Consolidating Information (Tables)
 12 Months Ended
Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule of condensed consolidating statements of income
Condensed Consolidating Statements of Income

 
Year Ended September 30, 2015
 
Year Ended September 30, 2014
 
Year Ended September 30, 2013
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Net revenue
$
—


$
912.0


$
889.0


$
(204.2
)

$
1,596.8


$
—


$
866.1


$
1,001.9


$
(200.8
)

$
1,667.2


$
—


$
863.4


$
862.7


$
(172.7
)

$
1,553.4

Cost of goods sold
—


475.6


654.5


(103.7
)

1,026.4


—


441.9


736.0


(99.9
)

1,078.0


—


442.8


655.8


(63.9
)

1,034.7

Gross profit
—


436.4


234.5


(100.5
)

570.4


—


424.2


265.9


(100.9
)

589.2


—


420.6


206.9


(108.8
)

518.7

Operating expenses
33.1


244.1


153.9


(100.5
)

330.6


41.0


261.4


181.6


(100.9
)

383.1


42.0


243.9


159.4


(108.8
)

336.5

Amortization expense
0.4

 
11.4

 
16.3

 
—

 
28.1

 
0.5

 
11.4

 
19.7

 
—

 
31.6

 
0.4

 
16.1

 
47.6

 
—

 
64.1

Pension settlement charge
3.3


14.4


—


—


17.7


—


—


—


—


—


—


—


—


—


—

Interest expense
20.5


0.8


2.5


—


23.8


18.9


0.4


4.0


—


23.3


19.8


0.2


4.4


(0.4
)

24.0

Other income (expense), net
(0.2
)

(4.0
)

(3.7
)

—


(7.9
)

(0.1
)

8.5


0.3


—


8.7


1.4


(3.5
)

2.1


(0.4
)

(0.4
)
Equity in net income (loss) of subsidiaries
141.1


12.5


—


(153.6
)

—


144.4


10.3


—


(154.7
)

—


105.2


10.0


—


(115.2
)

—

Income (loss) before income taxes
83.6


174.2


58.1


(153.6
)

162.3


83.9


169.8


60.9


(154.7
)

159.9


44.4


166.9


(2.4
)

(115.2
)

93.7

Income tax expense (benefit)
(27.8
)

60.5


16.4


—


49.1


(25.8
)

59.7


14.8


—


48.7


(19.0
)

58.5


(11.2
)

—


28.3

Consolidated net income
111.4


113.7


41.7


(153.6
)

113.2


109.7


110.1


46.1


(154.7
)

111.2


63.4


108.4


8.8


(115.2
)

65.4

Less: Net income attributable to noncontrolling interests
—


—


1.8


—


1.8


—


—


1.5


—


1.5


—


—


2.0


—


2.0

Net income (loss)(1)
$
111.4


$
113.7


$
39.9


$
(153.6
)

$
111.4


$
109.7


$
110.1


$
44.6


$
(154.7
)

$
109.7


$
63.4


$
108.4


$
6.8


$
(115.2
)

$
63.4

Consolidated comprehensive income (loss)
$
55.7


$
103.5


$
0.8


$
(102.9
)

$
57.1


$
58.9


$
100.7


$
(8.4
)

$
(90.9
)

$
60.3


$
104.4


$
132.5


$
28.5


$
(159.5
)

$
105.9

Less: Comprehensive income attributable to noncontrolling interests
—


—


1.4


—


1.4


—


—


1.4


—


1.4


—


—


1.5


—


1.5

Comprehensive income (loss)(2)
$
55.7


$
103.5


$
(0.6
)

$
(102.9
)

$
55.7


$
58.9


$
100.7


$
(9.8
)

$
(90.9
)

$
58.9


$
104.4


$
132.5


$
27.0


$
(159.5
)

$
104.4


 
(1) Net income attributable to Hillenbrand
(2) Comprehensive income attributable to Hillenbrand
Schedule of condensed consolidating balance sheets
Condensed Consolidating Balance Sheets
 
 
September 30, 2015
 
September 30, 2014
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Cash and equivalents
$
0.3


$
7.1


$
40.9


$
—


$
48.3


$
0.4


$
10.6


$
47.0


$
—


$
58.0

Trade receivables, net
—


113.4


74.5


—


187.9


—


113.2


77.8


—


191.0

Unbilled receivables from long-term manufacturing contracts
—


13.5


131.4


—


144.9


—


4.0


145.3


—


149.3

Inventories
—


69.0


87.1


(2.5
)

153.6


—


69.7


101.8


(3.0
)

168.5

Deferred income taxes
1.8


15.7


4.4


—


21.9


10.6


17.3


2.6


—


30.5

Prepaid expense
2.8


6.5


14.5


—


23.8


2.5


4.9


11.6


—


19.0

Intercompany receivables
—


921.8


60.2


(982.0
)

—


291.0


1,189.9


5.3


(1,486.2
)

—

Other current assets
0.6


1.9


20.8


0.4


23.7


1.2


2.1


17.8


0.4


21.5

Total current assets
5.5


1,148.9


433.8


(984.1
)

604.1


305.7


1,411.7


409.2


(1,488.8
)

637.8

Property, plant and equipment, net
6.3


66.2


85.8


—


158.3


6.7


65.4


87.4


—


159.5

Intangible assets, net
2.2


175.6


281.8


—


459.6


2.5


186.1


321.9


—


510.5

Goodwill
—


211.7


332.3


—


544.0


—


211.7


359.0


—


570.7

Investment in consolidated subsidiaries
2,082.7


836.1


—


(2,918.8
)

—


2,000.2


644.0


—


(2,644.2
)

—

Other assets
24.5


31.0


0.9


(14.3
)

42.1


25.8


9.9


4.3


—


40.0

Total Assets
$
2,121.2


$
2,469.5


$
1,134.6


$
(3,917.2
)

$
1,808.1


$
2,340.9


$
2,528.8


$
1,181.8


$
(4,133.0
)

$
1,918.5

 





























Trade accounts payable
$
0.5


$
22.7


$
81.3


$
(0.2
)

$
104.3


$
3.0


$
32.8


$
156.8


$
—


$
192.6

Liabilities from long-term manufacturing contracts and advances
—


13.5


66.2


—


79.7


—


20.4


55.7


—


76.1

Current portion of long-term debt
9.0


—


0.4


—


9.4


15.0


—


—


—


15.0

Accrued compensation
3.9


23.0


35.4


—


62.3


5.0


55.3


9.3


—


69.6

Deferred income taxes
—


—


25.4


—


25.4


—


1.6


19.1


—


20.7

Intercompany payables
979.7


4.8


—


(984.5
)

—


1,202.7


286.5


—


(1,489.2
)

—

Other current liabilities
18.1


46.0


58.6


0.4


123.1


4.1


61.6


51.0


0.4


117.1

Total current liabilities
1,011.2


110.0


267.3


(984.3
)

404.2


1,229.8


458.2


291.9


(1,488.8
)

491.1

Long-term debt
513.1


—


5.6


—


518.7


525.9


—


17.6


—


543.5

Accrued pension and postretirement healthcare
1.1


119.8


97.8


—


218.7


1.0


94.2


105.7


—


200.9

Deferred income taxes
—


17.0


26.5


(14.1
)

29.4


0.8


15.1


39.5


—


55.4

Other long-term liabilities
1.7


20.4


9.2


—


31.3


0.1


27.7


6.0


—


33.8

Total Liabilities
1,527.1


267.2


406.4


(998.4
)

1,202.3


1,757.6


595.2


460.7


(1,488.8
)

1,324.7

Total Hillenbrand Shareholders’ Equity
594.1


2,202.3


716.5


(2,918.8
)

594.1


583.3


1,933.6


710.6


(2,644.2
)

583.3

Noncontrolling interests
—


—


11.7


—


11.7


—


—


10.5


—


10.5

Total Equity
594.1


2,202.3


728.2


(2,918.8
)

605.8


583.3


1,933.6


721.1


(2,644.2
)

593.8

Total Liabilities and Equity
$
2,121.2


$
2,469.5


$
1,134.6


$
(3,917.2
)

$
1,808.1


$
2,340.9


$
2,528.8


$
1,181.8


$
(4,133.0
)

$
1,918.5

Schedule of condensed consolidating statements of cash flows
Condensed Consolidating Statements of Cash Flows
 
 
Year Ended September 30, 2015
 
Year Ended September 30, 2014
 
Year Ended September 30, 2013
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
76.0


$
91.0


$
23.6


$
(85.6
)

$
105.0


$
81.8


$
46.9


$
98.2


$
(47.3
)

$
179.6


$
152.1


$
107.4


$
(36.4
)

$
(95.9
)

$
127.2

 












































Investing activities:
 


 


 


 


 


 


 


 


 


 


 


 


 


 


 

Capital expenditures
(1.1
)

(14.5
)

(15.4
)

—


(31.0
)

(1.0
)

(9.5
)

(13.1
)

—


(23.6
)

(2.8
)

(14.3
)

(12.8
)

—


(29.9
)
Proceeds from property, plant, and equipment
—


2.8


—


—


2.8


—


0.3


7.2


—


7.5


1.2


0.1


0.3


—


1.6

Proceeds from investments
—


—


—


—


—


—


5.8


—


—


5.8


1.7


—


—


—


1.7

Acquisition of business, net of cash acquired
—


—


—


—


—


—


—


—


—


—


(404.3
)

(0.5
)

(10.9
)

—


(415.7
)
Return of investment capital from affiliaties
1.5

 
—

 
—

 
—

 
1.5

 
1.1

 
—

 
0.9

 
—

 
2.0

 
1.1

 
—

 
0.2

 
—

 
1.3

Other, net
—


(2.5
)

(0.3
)

—


(2.8
)

—


—


—


—


—


—


—


—


—


—

Net cash used in investing activities
0.4


(14.2
)

(15.7
)

—


(29.5
)

0.1


(3.4
)

(5.0
)

—


(8.3
)

(403.1
)

(14.7
)

(23.2
)

—


(441.0
)
 












































Financing activities:
 


 


 


 


 


 


 


 


 


 


 


 


 


 


 

Proceeds from term loan
—


—


—


—


—


—


—


—


—


—


200.0


—


—


—


200.0

Repayments on term loan
(9.0
)

—


—


—


(9.0
)

(10.0
)

—


—


—


(10.0
)

(10.0
)

—


—


—


(10.0
)
Proceeds from revolving credit facilities
331.7


—


98.5


—


430.2


248.4


—


68.2


—


316.6


592.3


—


118.0


—


710.3

Repayments on revolving credit facilities
(441.8
)

—


(105.2
)

—


(547.0
)

(269.9
)

—


(140.8
)

—


(410.7
)

(485.5
)

—


(29.2
)

—


(514.7
)
Proceeds from Series A unsecured notes, net of financing costs
99.6


—


—


—


99.6


—


—


—


—


—


—


—


—


—


—

Payment of dividends - intercompany
—


(80.3
)

(5.3
)

85.6


—


—


(41.6
)

(5.7
)

47.3


—


—


(90.3
)

(5.6
)

95.9


—

Payment of dividends on common stock
(50.4
)

—


—


—


(50.4
)

(49.7
)

—


—


—


(49.7
)

(48.7
)

—


—


—


(48.7
)
Repurchases of common stock
(11.2
)

—


—


—


(11.2
)

(16.5
)

—


—


—


(16.5
)

—


—


—


—


—

Net proceeds (payments) on stock plans
3.4


—


—


—


3.4


14.6


—


—


—


14.6


(0.4
)

—


—


—


(0.4
)
Other, net
1.2


—


—


—


1.2


1.0


—


(0.8
)

—


0.2


—


—


—


—


—

Net cash (used in) provided by financing activities
(76.5
)

(80.3
)

(12.0
)

85.6


(83.2
)

(82.1
)

(41.6
)

(79.1
)

47.3


(155.5
)

247.7


(90.3
)

83.2


95.9


336.5

 












































Effect of exchange rates on cash and cash equivalents
—


—


(2.0
)

—


(2.0
)

—


—


(0.5
)

—


(0.5
)

—


—


(0.2
)

—


(0.2
)
 












































Net cash flow
(0.1
)

(3.5
)

(6.1
)

—


(9.7
)

(0.2
)

1.9


13.6


—


15.3


(3.3
)

2.4


23.4


—


22.5

Cash and equivalents at beginning of period
0.4


10.6


47.0


—


58.0


0.6


8.7


33.4


—


42.7


3.9


6.3


10.0


—


20.2

Cash and equivalents at end of period
$
0.3


$
7.1


$
40.9


$
—


$
48.3


$
0.4


$
10.6


$
47.0


$
—


$
58.0


$
0.6


$
8.7


$
33.4


$
—


$
42.7