Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Information (Tables)

v3.6.0.2
Condensed Consolidating Information (Tables)
3 Months Ended
Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule of condensed consolidating statements of income
 
Three Months Ended December 31, 2016
 
Three Months Ended December 31, 2015
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Net revenue
$

 
$
202.7

 
$
202.9

 
$
(49.5
)
 
$
356.1

 
$

 
$
197.3

 
$
205.2

 
$
(50.8
)
 
$
351.7

Cost of goods sold

 
109.2

 
145.5

 
(24.6
)
 
230.1

 

 
102.2

 
146.7

 
(25.4
)
 
223.5

Gross profit

 
93.5

 
57.4

 
(24.9
)
 
126.0

 

 
95.1

 
58.5

 
(25.4
)
 
128.2

Operating expenses
9.6

 
58.7

 
39.4

 
(24.9
)
 
82.8

 
7.2

 
60.1

 
40.2

 
(25.4
)
 
82.1

Amortization expense

 
3.4

 
3.8

 

 
7.2

 

 
2.3

 
7.5

 

 
9.8

Interest expense
5.4

 

 
0.7

 

 
6.1

 
5.2

 

 
0.7

 

 
5.9

Other income (expense), net

 

 
(1.3
)
 

 
(1.3
)
 
0.1

 
(1.0
)
 
0.2

 

 
(0.7
)
Equity in net income (loss) of subsidiaries
28.8

 
2.2

 

 
(31.0
)
 

 
26.4

 
2.2

 

 
(28.6
)
 

Income (loss) before income taxes
13.8

 
33.6

 
12.2

 
(31.0
)
 
28.6

 
14.1

 
33.9

 
10.3

 
(28.6
)
 
29.7

Income tax expense (benefit)
(7.9
)
 
11.7

 
2.9

 

 
6.7

 
(5.9
)
 
12.0

 
2.6

 

 
8.7

Consolidated net income
21.7

 
21.9

 
9.3

 
(31.0
)
 
21.9

 
20.0

 
21.9

 
7.7

 
(28.6
)
 
21.0

Less: Net income attributable to
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
noncontrolling interests

 

 
0.2

 

 
0.2

 

 

 
1.0

 

 
1.0

Net income (loss) (1)
$
21.7

 
$
21.9

 
$
9.1

 
$
(31.0
)
 
$
21.7

 
$
20.0

 
$
21.9

 
$
6.7

 
$
(28.6
)
 
$
20.0

Consolidated comprehensive income (loss)
$
5.7

 
$
21.5

 
$
(11.6
)
 
$
(9.8
)
 
$
5.8

 
$
6.2

 
$
30.8

 
$
(6.8
)
 
$
(23.1
)
 
$
7.1

Less: Comprehensive income attributable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     to noncontrolling interests

 

 
0.1

 

 
0.1

 

 

 
0.9

 

 
0.9

Comprehensive income (loss) (2)
$
5.7

 
$
21.5

 
$
(11.7
)
 
$
(9.8
)
 
$
5.7

 
$
6.2

 
$
30.8

 
$
(7.7
)
 
$
(23.1
)
 
$
6.2



(1) Net income attributable to Hillenbrand
(2) Comprehensive income attributable to Hillenbrand
Schedule of condensed consolidating balance sheets
 
December 31, 2016
 
September 30, 2016
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Cash and cash equivalents
$

 
$
7.2

 
$
39.4

 
$

 
$
46.6

 
$
4.4

 
$
5.6

 
$
42.0

 
$

 
$
52.0

Trade receivables, net

 
105.8

 
73.1

 

 
178.9

 

 
120.6

 
84.4

 

 
205.0

Unbilled receivables from long-term
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
manufacturing contracts

 
10.2

 
128.0

 

 
138.2

 

 
10.6

 
115.2

 

 
125.8

Inventories

 
73.6

 
82.9

 
(2.6
)
 
153.9

 

 
69.8

 
86.1

 
(2.8
)
 
153.1

Deferred income taxes

 

 

 

 

 
1.6

 
17.4

 

 
4.9

 
23.9

Prepaid expense
2.7

 
6.7

 
9.8

 

 
19.2

 
2.2

 
6.5

 
9.5

 

 
18.2

Intercompany receivables

 
974.3

 
84.6

 
(1,058.9
)
 

 

 
1,003.1

 
97.4

 
(1,100.5
)
 

Other current assets
5.3

 
1.5

 
16.3

 
0.3

 
23.4

 
4.6

 
1.5

 
15.9

 
0.3

 
22.3

Total current assets
8.0

 
1,179.3

 
434.1

 
(1,061.2
)
 
560.2

 
12.8

 
1,235.1

 
450.5

 
(1,098.1
)
 
600.3

Property, plant and equipment, net
4.8

 
63.8

 
77.4

 

 
146.0

 
4.9

 
65.7

 
81.9

 

 
152.5

Intangible assets, net
3.9

 
221.4

 
294.6

 

 
519.9

 
4.1

 
220.4

 
317.0

 

 
541.5

Goodwill

 
284.3

 
332.0

 

 
616.3

 

 
271.8

 
362.5

 

 
634.3

Investment in consolidated subsidiaries
2,169.1

 
664.1

 

 
(2,833.2
)
 

 
2,143.4

 
820.2

 

 
(2,963.6
)
 

Other assets
24.6

 
22.8

 
3.8

 
(15.9
)
 
35.3

 
18.9

 
22.7

 
0.8

 
(11.3
)
 
31.1

Total Assets
$
2,210.4

 
$
2,435.7

 
$
1,141.9

 
$
(3,910.3
)
 
$
1,877.7

 
$
2,184.1

 
$
2,635.9

 
$
1,212.7

 
$
(4,073.0
)
 
$
1,959.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trade accounts payable
$
0.2

 
$
24.9

 
$
95.2

 
$

 
$
120.3

 
$
0.4

 
$
28.4

 
$
106.9

 
$

 
$
135.7

Liabilities from long-term manufacturing
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
contracts and advances

 
21.0

 
56.5

 

 
77.5

 

 
14.0

 
64.6

 

 
78.6

Current portion of long-term debt
14.6

 

 
1.8

 

 
16.4

 
13.5

 

 
0.3

 

 
13.8

Accrued compensation
2.8

 
17.1

 
27.7

 

 
47.6

 
4.7

 
17.3

 
35.3

 

 
57.3

Deferred income taxes

 

 

 

 

 

 

 
18.1

 
4.7

 
22.8

Intercompany payables
1,056.5

 
5.0

 

 
(1,061.5
)
 

 
1,098.8

 
4.5

 

 
(1,103.3
)
 

Other current liabilities
9.3

 
41.3

 
72.2

 
0.6

 
123.4

 
13.9

 
39.8

 
71.6

 
0.2

 
125.5

Total current liabilities
1,083.4

 
109.3

 
253.4

 
(1,060.9
)
 
385.2

 
1,131.3

 
104.0

 
296.8

 
(1,098.4
)
 
433.7

Long-term debt
488.2

 

 
149.7

 

 
637.9

 
416.6

 

 
178.5

 

 
595.1

Accrued pension and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
postretirement healthcare
1.1

 
40.3

 
98.2

 

 
139.6

 
1.1

 
127.0

 
104.6

 

 
232.7

Deferred income taxes

 
6.0

 
47.0

 
(16.2
)
 
36.8

 

 
5.8

 
27.8

 
(11.0
)
 
22.6

Other long-term liabilities
1.2

 
16.9

 
9.6

 

 
27.7

 
2.8

 
16.3

 
10.3

 

 
29.4

Total Liabilities
1,573.9

 
172.5

 
557.9

 
(1,077.1
)
 
1,227.2

 
1,551.8

 
253.1

 
618.0

 
(1,109.4
)
 
1,313.5

Total Hillenbrand Shareholders’ Equity
636.5

 
2,263.2

 
570.0

 
(2,833.2
)
 
636.5

 
632.3

 
2,382.8

 
580.8

 
(2,963.6
)
 
632.3

Noncontrolling interests

 

 
14.0

 

 
14.0

 

 

 
13.9

 

 
13.9

Total Equity
636.5

 
2,263.2

 
584.0

 
(2,833.2
)
 
650.5

 
632.3

 
2,382.8

 
594.7

 
(2,963.6
)
 
646.2

Total Liabilities and Equity
$
2,210.4

 
$
2,435.7

 
$
1,141.9

 
$
(3,910.3
)
 
$
1,877.7

 
$
2,184.1

 
$
2,635.9

 
$
1,212.7

 
$
(4,073.0
)
 
$
1,959.7

Schedule of condensed consolidating statements of cash flows
 
Three Months Ended December 31, 2016
 
Three Months Ended December 31, 2015
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in)
     operating activities
$
(72.6
)
 
$
3.6

 
$
20.3

 
$

 
$
(48.7
)
 
$
(1.7
)
 
$
3.2

 
$
34.2

 
$

 
$
35.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investing activities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Capital expenditures
(0.2
)
 
(2.0
)
 
(2.4
)
 

 
(4.6
)
 
(0.3
)
 
(3.8
)
 
(2.4
)
 

 
(6.5
)
Proceeds from sales of property, plant, and
     equipment

 

 

 

 

 

 

 
0.1

 

 
0.1

Acquisition of business, net of cash
     acquired

 

 

 

 

 

 

 
(105.7
)
 

 
(105.7
)
Other, net
0.2

 

 
(0.1
)
 

 
0.1

 

 

 

 

 

Net cash used in investing activities

 
(2.0
)
 
(2.5
)
 

 
(4.5
)
 
(0.3
)
 
(3.8
)
 
(108.0
)
 

 
(112.1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financing activities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Repayments on term loan
(3.4
)
 

 

 

 
(3.4
)
 
(3.4
)
 

 

 

 
(3.4
)
Proceeds from revolving credit facilities
135.0

 

 
47.1

 

 
182.1

 
79.0

 

 
103.3

 

 
182.3

Repayments on revolving credit facilities
(59.0
)
 

 
(66.9
)
 

 
(125.9
)
 
(57.5
)
 

 
(24.0
)
 

 
(81.5
)
Payment of dividends on common stock
(13.0
)
 

 

 

 
(13.0
)
 
(12.7
)
 

 

 

 
(12.7
)
Repurchases of common stock

 

 

 

 

 
(3.0
)
 

 

 

 
(3.0
)
Net proceeds (payments) on stock plans
8.6

 

 

 

 
8.6

 
(0.8
)
 

 

 

 
(0.8
)
Other, net

 

 
1.1

 

 
1.1

 
0.8

 

 

 

 
0.8

Net cash provided by (used in)
     financing activities
68.2

 

 
(18.7
)
 

 
49.5

 
2.4

 

 
79.3

 

 
81.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of exchange rates on cash and
     cash equivalents

 

 
(1.7
)
 

 
(1.7
)
 

 

 
1.5

 

 
1.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash flow
(4.4
)
 
1.6

 
(2.6
)
 

 
(5.4
)
 
0.4

 
(0.6
)
 
7.0

 

 
6.8

Cash and equivalents at beginning of
     period
4.4

 
5.6

 
42.0

 

 
52.0

 
0.3

 
7.1

 
40.9

 

 
48.3

Cash and equivalents at end of period
$

 
$
7.2

 
$
39.4

 
$

 
$
46.6

 
$
0.7

 
$
6.5

 
$
47.9

 
$

 
$
55.1