Annual report pursuant to Section 13 and 15(d)

Condensed Consolidating Information (Tables)

v3.8.0.1
Condensed Consolidating Information (Tables)
12 Months Ended
Sep. 30, 2017
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, 2017
 
Year Ended September 30, 2016
 
Year Ended September 30, 2015
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Net revenue
$

 
$
901.4

 
$
904.7

 
$
(215.9
)
 
$
1,590.2

 
$

 
$
846.8


$
892.8


$
(201.2
)

$
1,538.4


$


$
912.0


$
889.0


$
(204.2
)

$
1,596.8

Cost of goods sold

 
467.3

 
647.4

 
(115.8
)
 
998.9

 

 
428.7


638.4


(99.3
)

967.8




475.6


654.5


(103.7
)

1,026.4

Gross profit

 
434.1

 
257.3

 
(100.1
)
 
591.3

 

 
418.1

 
254.4

 
(101.9
)
 
570.6




436.4


234.5


(100.5
)

570.4

Operating expenses
42.4

 
237.8

 
164.3

 
(100.1
)
 
344.4

 
41.8

 
242.0


164.6


(101.9
)

346.5


33.1


244.1


153.9


(100.5
)

330.6

Amortization expense

 
13.5

 
15.7

 

 
29.2

 

 
13.0

 
20.0

 

 
33.0

 
0.4

 
11.4

 
16.3

 

 
28.1

Pension settlement charge

 

 

 

 

 

 








3.3


14.4






17.7

Interest expense
21.8

 

 
3.4

 

 
25.2

 
22.7

 
0.2


2.4




25.3


20.5


0.8


2.5




23.8

Other income (expense), net
(0.6
)
 
(3.4
)
 
(0.2
)
 

 
(4.2
)
 
(0.3
)
 
(2.2
)

0.8




(1.7
)

(0.2
)

(4.0
)

(3.7
)



(7.9
)
Equity in net income (loss) of subsidiaries
164.4

 
8.2

 

 
(172.6
)
 

 
144.4

 
10.2




(154.6
)



141.1


12.5




(153.6
)


Income (loss) before income taxes
99.6

 
187.6

 
73.7

 
(172.6
)
 
188.3

 
79.6

 
170.9


68.2


(154.6
)

164.1


83.6


174.2


58.1


(153.6
)

162.3

Income tax expense (benefit)
(26.6
)
 
65.9

 
20.6

 

 
59.9

 
(33.2
)
 
62.4


18.1




47.3


(27.8
)

60.5


16.4




49.1

Consolidated net income
126.2

 
121.7

 
53.1

 
(172.6
)
 
128.4

 
112.8

 
108.5


50.1


(154.6
)

116.8


111.4


113.7


41.7


(153.6
)

113.2

Less: Net income attributable to noncontrolling interests

 

 
2.2

 

 
2.2

 

 


4.0




4.0






1.8




1.8

Net income (loss)(1)
$
126.2

 
$
121.7

 
$
50.9

 
$
(172.6
)
 
$
126.2

 
$
112.8

 
$
108.5


$
46.1


$
(154.6
)

$
112.8


$
111.4


$
113.7


$
39.9


$
(153.6
)

$
111.4

Consolidated comprehensive income (loss)
$
174.8

 
$
131.8

 
$
86.4

 
$
(215.8
)
 
$
177.2

 
$
90.9

 
$
116.4


$
33.1


$
(145.8
)

$
94.6


$
55.7


$
103.5


$
0.8


$
(102.9
)

$
57.1

Less: Comprehensive income attributable to noncontrolling interests

 

 
2.4

 

 
2.4

 

 

 
3.7

 

 
3.7






1.4



 
1.4

Comprehensive income (loss)(2)
$
174.8

 
$
131.8

 
$
84.0

 
$
(215.8
)
 
$
174.8

 
$
90.9

 
$
116.4


$
29.4


$
(145.8
)

$
90.9


$
55.7


$
103.5


$
(0.6
)

$
(102.9
)

$
55.7

 
(1) Net income attributable to Hillenbrand
(2) Comprehensive income attributable to Hillenbrand
Schedule of condensed consolidating balance sheets
Condensed Consolidating Balance Sheets
 
 
September 30, 2017
 
September 30, 2016
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Cash and cash equivalents
$
0.1


$
4.9


$
61.0


$


$
66.0


$
4.4


$
5.6


$
42.0


$


$
52.0

Trade receivables, net


114.5


91.6




206.1




120.6


84.4




205.0

Receivables from long-term manufacturing contracts


8.5


116.7




125.2




10.6


115.2




125.8

Inventories


68.2


85.9


(2.5
)

151.6




69.8


86.1


(2.8
)

153.1

Deferred income taxes










1.6


17.4




4.9


23.9

Prepaid expense
2.1


7.6


18.5




28.2


2.2


6.5


9.5




18.2

Intercompany receivables


1,050.4


93.9


(1,144.3
)





1,003.1


97.4


(1,100.5
)


Other current assets
0.2


1.6


14.4


0.3


16.5


4.6


1.5


15.9


0.3


22.3

Total current assets
2.4


1,255.7


482.0


(1,146.5
)

593.6


12.8


1,235.1


450.5


(1,098.1
)

600.3

Property, plant and equipment, net
4.7


64.5


81.2




150.4


4.9


65.7


81.9




152.5

Intangible assets, net
3.6


211.3


309.0




523.9


4.1


220.4


317.0




541.5

Goodwill


283.9


363.6




647.5




271.8


362.5




634.3

Investment in consolidated subsidiaries
2,298.0


664.1




(2,962.1
)



2,143.4


820.2




(2,963.6
)


Other assets
20.2


29.0


4.4


(12.5
)

41.1


18.9


22.7


0.8


(11.3
)

31.1

Total Assets
$
2,328.9


$
2,508.5


$
1,240.2


$
(4,121.1
)

$
1,956.5


$
2,184.1


$
2,635.9


$
1,212.7


$
(4,073.0
)

$
1,959.7

 





























Trade accounts payable
$
1.0


$
36.7


$
120.0


$
0.3


$
158.0


$
0.4


$
28.4


$
106.9


$


$
135.7

Liabilities from long-term manufacturing contracts and advances


26.2


106.1




132.3




14.0


64.6




78.6

Current portion of long-term debt
18.0




0.8




18.8


13.5




0.3




13.8

Accrued compensation
7.6


17.9


41.4




66.9


4.7


17.3


35.3




57.3

Deferred income taxes














18.1


4.7


22.8

Intercompany payables
1,142.8


4.0




(1,146.8
)



1,098.8


4.5




(1,103.3
)


Other current liabilities
14.0


42.2


79.3


0.2


135.7


13.9


39.8


71.6


0.2


125.5

Total current liabilities
1,183.4


127.0


347.6


(1,146.3
)

511.7


1,131.3


104.0


296.8


(1,098.4
)

433.7

Long-term debt
392.0




54.9




446.9


416.6




178.5




595.1

Accrued pension and postretirement healthcare
0.8


33.3


95.5




129.6


1.1


127.0


104.6




232.7

Deferred income taxes


27.5


60.9


(12.7
)

75.7




5.8


27.8


(11.0
)

22.6

Other long-term liabilities
1.3


15.3


10.1




26.7


2.8


16.3


10.3




29.4

Total Liabilities
1,577.5


203.1


569.0


(1,159.0
)

1,190.6


1,551.8


253.1


618.0


(1,109.4
)

1,313.5

Total Hillenbrand Shareholders’ Equity
751.4


2,305.4


656.7


(2,962.1
)

751.4


632.3


2,382.8


580.8


(2,963.6
)

632.3

Noncontrolling interests




14.5




14.5






13.9




13.9

Total Equity
751.4


2,305.4


671.2


(2,962.1
)

765.9


632.3


2,382.8


594.7


(2,963.6
)

646.2

Total Liabilities and Equity
$
2,328.9


$
2,508.5


$
1,240.2


$
(4,121.1
)

$
1,956.5


$
2,184.1


$
2,635.9


$
1,212.7


$
(4,073.0
)

$
1,959.7

Schedule of condensed consolidating statements of cash flows
Condensed Consolidating Statements of Cash Flows
 
 
Year Ended September 30, 2017
 
Year Ended September 30, 2016
 
Year Ended September 30, 2015
 
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
$
79.9


$
126.7


$
168.3


$
(128.7
)

$
246.2


$
157.8


$
239.9


$
(49.5
)

$
(110.0
)

$
238.2


$
76.0


$
91.0


$
23.6


$
(85.6
)

$
105.0

 












































Investing activities:












 














 


 


 


 


 


 

Capital expenditures
(0.7
)

(9.7
)

(11.6
)



(22.0
)

(2.6
)

(8.0
)

(10.6
)



(21.2
)

(1.1
)

(14.5
)

(15.4
)



(31.0
)
Proceeds from property, plant, and equipment


5.3


0.4




5.7




1.6


0.4




2.0




2.8






2.8

Acquisition of business, net of cash acquired












(130.4
)

(105.0
)



(235.4
)










Return of investment capital from affiliates
3.2

 

 

 

 
3.2

 
1.1

 

 

 

 
1.1

 
1.5

 

 

 

 
1.5

Other, net


(0.4
)





(0.4
)













(2.5
)

(0.3
)



(2.8
)
Net cash provided by (used in) investing activities
2.5


(4.8
)

(11.2
)



(13.5
)

(1.5
)

(136.8
)

(115.2
)



(253.5
)

0.4


(14.2
)

(15.7
)



(29.5
)
 












































Financing activities:












 














 


 


 


 


 


 

Repayments on term loan
(13.5
)







(13.5
)

(9.0
)







(9.0
)

(9.0
)







(9.0
)
Proceeds from revolving credit facility
289.5




529.8




819.3


375.5




344.3




719.8


331.7




98.5




430.2

Repayments on revolving credit facility
(296.5
)



(656.5
)



(953.0
)

(457.5
)



(169.7
)



(627.2
)

(441.8
)



(105.2
)



(547.0
)
Proceeds from Series A unsecured notes, net of financing costs




















99.6








99.6

Payment of dividends - intercompany


(122.6
)

(6.1
)

128.7






(104.6
)

(5.4
)

110.0






(80.3
)

(5.3
)

85.6



Payment of dividends on common stock
(51.9
)







(51.9
)

(51.1
)







(51.1
)

(50.4
)







(50.4
)
Repurchases of common stock
(28.0
)







(28.0
)

(21.2
)







(21.2
)

(11.2
)







(11.2
)
Net proceeds (payments) on stock plans
13.7








13.7


11.1








11.1


3.4








3.4

Other, net




(1.7
)



(1.7
)





(0.8
)



(0.8
)

1.2








1.2

Net cash (used in) provided by financing activities
(86.7
)

(122.6
)

(134.5
)

128.7


(215.1
)

(152.2
)

(104.6
)

168.4


110.0


21.6


(76.5
)

(80.3
)

(12.0
)

85.6


(83.2
)
 












































Effect of exchange rates on cash and cash equivalents




(3.6
)



(3.6
)





(2.6
)



(2.6
)





(2.0
)



(2.0
)
 












































Net cash flow
(4.3
)

(0.7
)

19.0




14.0


4.1


(1.5
)

1.1




3.7


(0.1
)

(3.5
)

(6.1
)



(9.7
)
Cash and equivalents at beginning of period
4.4


5.6


42.0




52.0


0.3


7.1


40.9




48.3


0.4


10.6


47.0




58.0

Cash and equivalents at end of period
$
0.1


$
4.9


$
61.0


$


$
66.0


$
4.4


$
5.6


$
42.0


$


$
52.0


$
0.3


$
7.1


$
40.9


$


$
48.3