Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Information (Tables)

v3.3.1.900
Condensed Consolidating Information (Tables)
 3 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule of condensed consolidating statements of income
 
Three Months Ended December 31, 2015
 
Three Months Ended December 31, 2014
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Net revenue
$
—

 
$
197.3

 
$
205.2

 
$
(50.8
)
 
$
351.7

 
$
—

 
$
216.7

 
$
233.5

 
$
(48.7
)
 
$
401.5

Cost of goods sold
—

 
102.2

 
146.7

 
(25.4
)
 
223.5

 
—

 
114.3

 
172.8

 
(24.0
)
 
263.1

Gross profit
—

 
95.1

 
58.5

 
(25.4
)
 
128.2

 
—

 
102.4

 
60.7

 
(24.7
)
 
138.4

Operating expenses
7.2

 
60.1

 
40.2

 
(25.4
)
 
82.1

 
8.0

 
60.3

 
40.0

 
(24.7
)
 
83.6

Amortization expense
—

 
2.3

 
7.5

 
—

 
9.8

 
0.1

 
2.6

 
4.9

 
—

 
7.6

Interest expense
5.2

 
—

 
0.7

 
—

 
5.9

 
4.9

 
—

 
0.8

 
—

 
5.7

Other income (expense), net
0.1

 
(1.0
)
 
0.2

 
—

 
(0.7
)
 
—

 
—

 
—

 
—

 
—

Equity in net income (loss) of subsidiaries
26.4

 
2.2

 
—

 
(28.6
)
 
—

 
34.1

 
2.2

 
—

 
(36.3
)
 
—

Income (loss) before income taxes
14.1

 
33.9

 
10.3

 
(28.6
)
 
29.7

 
21.1

 
41.7

 
15.0

 
(36.3
)
 
41.5

Income tax expense (benefit)
(5.9
)
 
12.0

 
2.6

 
—

 
8.7

 
(8.4
)
 
14.9

 
5.3

 
—

 
11.8

Consolidated net income
20.0

 
21.9

 
7.7

 
(28.6
)
 
21.0

 
29.5

 
26.8

 
9.7

 
(36.3
)
 
29.7

Less: Net income attributable to
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
noncontrolling interests
—

 
—

 
1.0

 
—

 
1.0

 
—

 
—

 
0.2

 
—

 
0.2

Net income (loss) (1)
$
20.0

 
$
21.9

 
$
6.7

 
$
(28.6
)
 
$
20.0

 
$
29.5

 
$
26.8

 
$
9.5

 
$
(36.3
)
 
$
29.5

Consolidated comprehensive income (loss)
$
6.2

 
$
30.8

 
$
(6.8
)
 
$
(23.1
)
 
$
7.1

 
$
9.8

 
$
27.6

 
$
2.3

 
$
(29.8
)
 
$
9.9

Less: Comprehensive income attributable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     to noncontrolling interests
—

 
—

 
0.9

 
—

 
0.9

 
—

 
—

 
0.1

 
—

 
0.1

Comprehensive income (loss) (2)
$
6.2

 
$
30.8

 
$
(7.7
)
 
$
(23.1
)
 
$
6.2

 
$
9.8

 
$
27.6

 
$
2.2

 
$
(29.8
)
 
$
9.8



(1) Net income attributable to Hillenbrand
(2) Comprehensive income attributable to Hillenbrand
Schedule of condensed consolidating balance sheets
 
December 31, 2015
 
September 30, 2015
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Cash and cash equivalents
$
0.7

 
$
6.5

 
$
47.9

 
$
—

 
$
55.1

 
$
0.3

 
$
7.1

 
$
40.9

 
$
—

 
$
48.3

Trade receivables, net
—

 
98.3

 
75.1

 
—

 
173.4

 
—

 
113.4

 
74.5

 
—

 
187.9

Unbilled receivables from long-term
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
manufacturing contracts
—

 
8.4

 
111.9

 
—

 
120.3

 
—

 
13.5

 
131.4

 
—

 
144.9

Inventories
—

 
75.0

 
93.9

 
(2.8
)
 
166.1

 
—

 
69.0

 
87.1

 
(2.5
)
 
153.6

Deferred income taxes
0.2

 
15.8

 
3.3

 
—

 
19.3

 
1.8

 
15.7

 
4.4

 
—

 
21.9

Prepaid expense
2.9

 
6.3

 
12.0

 
—

 
21.2

 
2.8

 
6.5

 
14.5

 
—

 
23.8

Intercompany receivables
—

 
973.1

 
54.2

 
(1,027.3
)
 
—

 
—

 
921.8

 
60.2

 
(982.0
)
 
—

Other current assets
0.3

 
1.6

 
17.7

 
0.7

 
20.3

 
0.6

 
1.9

 
20.8

 
0.4

 
23.7

Total current assets
4.1

 
1,185.0

 
416.0

 
(1,029.4
)
 
575.7

 
5.5

 
1,148.9

 
433.8

 
(984.1
)
 
604.1

Property, plant and equipment, net
6.3

 
65.3

 
86.4

 
—

 
158.0

 
6.3

 
66.2

 
85.8

 
—

 
158.3

Intangible assets, net
2.1

 
173.0

 
324.7

 
—

 
499.8

 
2.2

 
175.6

 
281.8

 
—

 
459.6

Goodwill
—

 
211.7

 
357.5

 
—

 
569.2

 
—

 
211.7

 
332.3

 
—

 
544.0

Investment in consolidated subsidiaries
2,130.9

 
842.6

 
—

 
(2,973.5
)
 
—

 
2,082.7

 
836.1

 
—

 
(2,918.8
)
 
—

Other assets
22.9

 
28.7

 
0.4

 
(11.9
)
 
40.1

 
24.5

 
31.0

 
0.9

 
(14.3
)
 
42.1

Total Assets
$
2,166.3

 
$
2,506.3

 
$
1,185.0

 
$
(4,014.8
)
 
$
1,842.8

 
$
2,121.2

 
$
2,469.5

 
$
1,134.6

 
$
(3,917.2
)
 
$
1,808.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trade accounts payable
$
1.1

 
$
19.4

 
$
81.2

 
$
—

 
$
101.7

 
$
0.5

 
$
22.7

 
$
81.3

 
$
(0.2
)
 
$
104.3

Liabilities from long-term manufacturing
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
contracts and advances
—

 
12.3

 
57.9

 
—

 
70.2

 
—

 
13.5

 
66.2

 
—

 
79.7

Current portion of long-term debt
10.1

 
—

 
—

 
—

 
10.1

 
9.0

 
—

 
0.4

 
—

 
9.4

Accrued compensation
1.5

 
12.4

 
26.8

 
—

 
40.7

 
3.9

 
23.0

 
35.4

 
—

 
62.3

Deferred income taxes
—

 
—

 
19.7

 
—

 
19.7

 
—

 
—

 
25.4

 
—

 
25.4

Intercompany payables
1,024.8

 
5.3

 
—

 
(1,030.1
)
 
—

 
979.7

 
4.8

 
—

 
(984.5
)
 
—

Other current liabilities
9.5

 
44.7

 
56.9

 
1.5

 
112.6

 
18.1

 
46.0

 
58.6

 
0.4

 
123.1

Total current liabilities
1,047.0

 
94.1

 
242.5

 
(1,028.6
)
 
355.0

 
1,011.2

 
110.0

 
267.3

 
(984.3
)
 
404.2

Long-term debt
531.3

 
—

 
81.6

 
—

 
612.9

 
513.1

 
—

 
5.6

 
—

 
518.7

Accrued pension and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
postretirement healthcare
1.1

 
119.9

 
94.1

 
—

 
215.1

 
1.1

 
119.8

 
97.8

 
—

 
218.7

Deferred income taxes
—

 
17.4

 
26.9

 
(12.7
)
 
31.6

 
—

 
17.0

 
26.5

 
(14.1
)
 
29.4

Other long-term liabilities
1.9

 
20.6

 
8.1

 
—

 
30.6

 
1.7

 
20.4

 
9.2

 
—

 
31.3

Total Liabilities
1,581.3

 
252.0

 
453.2

 
(1,041.3
)
 
1,245.2

 
1,527.1

 
267.2

 
406.4

 
(998.4
)
 
1,202.3

Total Hillenbrand Shareholders’ Equity
585.0

 
2,254.3

 
719.2

 
(2,973.5
)
 
585.0

 
594.1

 
2,202.3

 
716.5

 
(2,918.8
)
 
594.1

Noncontrolling interests
—

 
—

 
12.6

 
—

 
12.6

 
—

 
—

 
11.7

 
—

 
11.7

Total Equity
585.0

 
2,254.3

 
731.8

 
(2,973.5
)
 
597.6

 
594.1

 
2,202.3

 
728.2

 
(2,918.8
)
 
605.8

Total Liabilities and Equity
$
2,166.3

 
$
2,506.3

 
$
1,185.0

 
$
(4,014.8
)
 
$
1,842.8

 
$
2,121.2

 
$
2,469.5

 
$
1,134.6

 
$
(3,917.2
)
 
$
1,808.1

Schedule of condensed consolidating statements of cash flows
 
Three Months Ended December 31, 2015
 
Three Months Ended December 31, 2014
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in)
     operating activities
$
(1.7
)
 
$
3.2

 
$
34.2

 
$
—

 
$
35.7

 
$
(33.3
)
 
$
3.6

 
$
(12.2
)
 
$
—

 
$
(41.9
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investing activities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Capital expenditures
(0.3
)
 
(3.8
)
 
(2.4
)
 
—

 
(6.5
)
 
(0.3
)
 
(3.3
)
 
(2.1
)
 
—

 
(5.7
)
Proceeds from sales of property, plant, and
     equipment
—

 
—

 
0.1

 
—

 
0.1

 
—

 
0.5

 
—

 
—

 
0.5

Acquisition of business, net of cash
     acquired
—

 
—

 
(105.7
)
 
—

 
(105.7
)
 
—

 
—

 
—

 
—

 
—

Other, net
—

 
—

 
—

 
—

 
—

 
—

 
(2.4
)
 
(0.2
)
 
—

 
(2.6
)
Net cash used in investing activities
(0.3
)
 
(3.8
)
 
(108.0
)
 
—

 
(112.1
)
 
(0.3
)
 
(5.2
)
 
(2.3
)
 
—

 
(7.8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financing activities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Repayments on term loan
(3.4
)
 
—

 
—

 
—

 
(3.4
)
 
(2.3
)
 
—

 
—

 
—

 
(2.3
)
Proceeds from revolving credit facilities
79.0

 
—

 
103.3

 
—

 
182.3

 
111.5

 
—

 
37.8

 
—

 
149.3

Repayments on revolving credit facilities
(57.5
)
 
—

 
(24.0
)
 
—

 
(81.5
)
 
(157.5
)
 
—

 
(29.7
)
 
—

 
(187.2
)
Proceeds from unsecured Series A Notes,
      net of financing costs
—

 
—

 
—

 
—

 
—

 
99.7

 
—

 
—

 
—

 
99.7

Payment of dividends on common stock
(12.7
)
 
—

 
—

 
—

 
(12.7
)
 
(12.6
)
 
—

 
—

 
—

 
(12.6
)
Repurchases of common stock
(3.0
)
 
—

 
—

 
—

 
(3.0
)
 
(6.8
)
 
—

 
—

 
—

 
(6.8
)
Net proceeds on stock plans
(0.8
)
 
—

 
—

 
—

 
(0.8
)
 
1.2

 
—

 
—

 
—

 
1.2

Other, net
0.8

 
—

 
—

 
—

 
0.8

 
1.0

 
—

 
—

 
—

 
1.0

Net cash provided by
     financing activities
2.4

 
—

 
79.3

 
—

 
81.7

 
34.2

 
—

 
8.1

 
—

 
42.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of exchange rates on cash and
     cash equivalents
—

 
—

 
1.5

 
—

 
1.5

 
—

 
—

 
1.4

 
—

 
1.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash flow
0.4

 
(0.6
)
 
7.0

 
—

 
6.8

 
0.6

 
(1.6
)
 
(5.0
)
 
—

 
(6.0
)
Cash and equivalents at beginning of
     period
0.3

 
7.1

 
40.9

 
—

 
48.3

 
0.4

 
10.6

 
47.0

 
—

 
58.0

Cash and equivalents at end of period
$
0.7

 
$
6.5

 
$
47.9

 
$
—

 
$
55.1

 
$
1.0

 
$
9.0

 
$
42.0

 
$
—

 
$
52.0