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