Schedule of condensed consolidating balance sheets |
|
|
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|
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|
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|
|
|
|
|
|
|
|
|
|
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|
|
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|
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 |
|
|