Schedule of condensed consolidating balance sheets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019 |
|
September 30, 2019 |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
Cash and cash equivalents |
$ |
1.3 |
|
|
$ |
1.7 |
|
|
$ |
139.4 |
|
|
$ |
— |
|
|
$ |
142.4 |
|
|
$ |
283.1 |
|
|
$ |
9.6 |
|
|
$ |
106.3 |
|
|
$ |
— |
|
|
$ |
399.0 |
|
Trade receivables, net |
— |
|
|
100.7 |
|
|
243.6 |
|
|
— |
|
|
344.3 |
|
|
— |
|
|
113.6 |
|
|
103.8 |
|
|
— |
|
|
217.4 |
|
Receivables from long-term manufacturing contracts |
— |
|
|
11.7 |
|
|
194.2 |
|
|
— |
|
|
205.9 |
|
|
— |
|
|
9.8 |
|
|
171.3 |
|
|
— |
|
|
181.1 |
|
Inventories |
— |
|
|
79.0 |
|
|
365.9 |
|
|
(2.8 |
) |
|
442.1 |
|
|
— |
|
|
78.2 |
|
|
101.2 |
|
|
(2.8 |
) |
|
176.6 |
|
Intercompany receivables |
70.5 |
|
|
1,225.4 |
|
|
— |
|
|
(1,295.9 |
) |
|
— |
|
|
— |
|
|
1,179.7 |
|
|
— |
|
|
(1,179.7 |
) |
|
— |
|
Prepaid expenses and other current assets |
6.3 |
|
|
8.0 |
|
|
72.5 |
|
|
0.6 |
|
|
87.4 |
|
|
2.5 |
|
|
6.1 |
|
|
40.1 |
|
|
0.4 |
|
|
49.1 |
|
Total current assets |
78.1 |
|
|
1,426.5 |
|
|
1,015.6 |
|
|
(1,298.1 |
) |
|
1,222.1 |
|
|
285.6 |
|
|
1,397.0 |
|
|
522.7 |
|
|
(1,182.1 |
) |
|
1,023.2 |
|
Property, plant and equipment, net |
3.4 |
|
|
60.9 |
|
|
333.8 |
|
|
— |
|
|
398.1 |
|
|
3.8 |
|
|
61.2 |
|
|
75.3 |
|
|
— |
|
|
140.3 |
|
Operating lease right-of-use assets |
0.8 |
|
|
13.4 |
|
|
158.3 |
|
|
— |
|
|
172.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Intangible assets, net |
2.4 |
|
|
177.8 |
|
|
1,137.5 |
|
|
— |
|
|
1,317.7 |
|
|
2.4 |
|
|
181.4 |
|
|
271.1 |
|
|
— |
|
|
454.9 |
|
Goodwill |
— |
|
|
225.0 |
|
|
1,031.9 |
|
|
— |
|
|
1,256.9 |
|
|
— |
|
|
225.0 |
|
|
353.0 |
|
|
— |
|
|
578.0 |
|
Investment in consolidated subsidiaries |
2,913.7 |
|
|
655.1 |
|
|
— |
|
|
(3,568.8 |
) |
|
— |
|
|
2,266.4 |
|
|
655.2 |
|
|
— |
|
|
(2,921.6 |
) |
|
— |
|
Other long-term assets |
48.3 |
|
|
24.6 |
|
|
37.0 |
|
|
(56.5 |
) |
|
53.4 |
|
|
33.8 |
|
|
20.5 |
|
|
3.1 |
|
|
(25.2 |
) |
|
32.2 |
|
Total Assets |
$ |
3,046.7 |
|
|
$ |
2,583.3 |
|
|
$ |
3,714.1 |
|
|
$ |
(4,923.4 |
) |
|
$ |
4,420.7 |
|
|
$ |
2,592.0 |
|
|
$ |
2,540.3 |
|
|
$ |
1,225.2 |
|
|
$ |
(4,128.9 |
) |
|
$ |
2,228.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
$ |
5.0 |
|
|
$ |
67.0 |
|
|
$ |
277.0 |
|
|
$ |
— |
|
|
$ |
349.0 |
|
|
$ |
2.6 |
|
|
$ |
59.0 |
|
|
$ |
174.6 |
|
|
$ |
— |
|
|
$ |
236.2 |
|
Liabilities from long-term manufacturing contracts and advances |
— |
|
|
17.3 |
|
|
165.8 |
|
|
— |
|
|
183.1 |
|
|
— |
|
|
13.5 |
|
|
144.7 |
|
|
— |
|
|
158.2 |
|
Current portion of long-term debt |
36.2 |
|
|
— |
|
|
5.9 |
|
|
— |
|
|
42.1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Accrued compensation |
2.6 |
|
|
15.1 |
|
|
68.5 |
|
|
— |
|
|
86.2 |
|
|
6.9 |
|
|
20.8 |
|
|
45.5 |
|
|
— |
|
|
73.2 |
|
Intercompany payables |
— |
|
|
— |
|
|
1,298.7 |
|
|
(1,298.7 |
) |
|
— |
|
|
1,167.0 |
|
|
10.2 |
|
|
5.3 |
|
|
(1,182.5 |
) |
|
— |
|
Other current liabilities |
29.8 |
|
|
58.1 |
|
|
148.4 |
|
|
(16.9 |
) |
|
219.4 |
|
|
19.2 |
|
|
45.0 |
|
|
67.1 |
|
|
(9.6 |
) |
|
121.7 |
|
Total current liabilities |
73.6 |
|
|
157.5 |
|
|
1,964.3 |
|
|
(1,315.6 |
) |
|
879.8 |
|
|
1,195.7 |
|
|
148.5 |
|
|
437.2 |
|
|
(1,192.1 |
) |
|
589.3 |
|
Long-term debt |
1,822.4 |
|
|
— |
|
|
0.2 |
|
|
— |
|
|
1,822.6 |
|
|
619.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
619.5 |
|
Accrued pension and postretirement healthcare |
1.0 |
|
|
31.1 |
|
|
129.9 |
|
|
— |
|
|
162.0 |
|
|
0.8 |
|
|
32.1 |
|
|
98.4 |
|
|
— |
|
|
131.3 |
|
Operating lease liabilities |
0.4 |
|
|
10.5 |
|
|
126.2 |
|
|
— |
|
|
137.1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Deferred income taxes |
— |
|
|
20.4 |
|
|
234.0 |
|
|
(39.0 |
) |
|
215.4 |
|
|
— |
|
|
24.0 |
|
|
64.8 |
|
|
(15.2 |
) |
|
73.6 |
|
Other long-term liabilities |
22.2 |
|
|
16.6 |
|
|
21.2 |
|
|
— |
|
|
60.0 |
|
|
21.9 |
|
|
12.5 |
|
|
10.7 |
|
|
— |
|
|
45.1 |
|
Total Liabilities |
1,919.6 |
|
|
236.1 |
|
|
2,475.8 |
|
|
(1,354.6 |
) |
|
3,276.9 |
|
|
1,837.9 |
|
|
217.1 |
|
|
611.1 |
|
|
(1,207.3 |
) |
|
1,458.8 |
|
Hillenbrand Shareholders’ Equity |
1,127.1 |
|
|
2,347.2 |
|
|
1,221.6 |
|
|
(3,568.8 |
) |
|
1,127.1 |
|
|
754.1 |
|
|
2,323.2 |
|
|
598.4 |
|
|
(2,921.6 |
) |
|
754.1 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
16.7 |
|
|
— |
|
|
16.7 |
|
|
— |
|
|
— |
|
|
15.7 |
|
|
— |
|
|
15.7 |
|
Total Shareholders’ Equity |
1,127.1 |
|
|
2,347.2 |
|
|
1,238.3 |
|
|
(3,568.8 |
) |
|
1,143.8 |
|
|
754.1 |
|
|
2,323.2 |
|
|
614.1 |
|
|
(2,921.6 |
) |
|
769.8 |
|
Total Liabilities and Shareholders’ Equity |
$ |
3,046.7 |
|
|
$ |
2,583.3 |
|
|
$ |
3,714.1 |
|
|
$ |
(4,923.4 |
) |
|
$ |
4,420.7 |
|
|
$ |
2,592.0 |
|
|
$ |
2,540.3 |
|
|
$ |
1,225.2 |
|
|
$ |
(4,128.9 |
) |
|
$ |
2,228.6 |
|
|
Schedule of condensed consolidating statements of cash flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2019 |
|
Three Months Ended December 31, 2018 |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
Net cash provided by (used in)
operating activities
|
$ |
3.6 |
|
|
$ |
(5.6 |
) |
|
$ |
19.8 |
|
|
$ |
— |
|
|
$ |
17.8 |
|
|
$ |
(17.5 |
) |
|
$ |
0.1 |
|
|
$ |
52.9 |
|
|
$ |
— |
|
|
$ |
35.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
(0.2 |
) |
|
(2.3 |
) |
|
(3.8 |
) |
|
— |
|
|
(6.3 |
) |
|
— |
|
|
(1.7 |
) |
|
(1.9 |
) |
|
— |
|
|
(3.6 |
) |
Proceeds from sales of property, plant, and
equipment
|
— |
|
|
— |
|
|
13.3 |
|
|
— |
|
|
13.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Acquisition of business, net of cash
acquired
|
(1,503.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,503.1 |
) |
|
— |
|
|
— |
|
|
(26.2 |
) |
|
— |
|
|
(26.2 |
) |
Net cash (used in) provided by investing
activities
|
(1,503.3 |
) |
|
(2.3 |
) |
|
9.5 |
|
|
— |
|
|
(1,496.1 |
) |
|
— |
|
|
(1.7 |
) |
|
(28.1 |
) |
|
— |
|
|
(29.8 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from issuance of long-term debt |
725.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
725.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Repayments on term loan |
(9.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(9.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Proceeds from revolving credit facilities,
net of financing costs
|
747.3 |
|
|
— |
|
|
0.2 |
|
|
— |
|
|
747.5 |
|
|
106.0 |
|
|
— |
|
|
54.2 |
|
|
— |
|
|
160.2 |
|
Repayments on revolving credit facilities |
(222.5 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(222.5 |
) |
|
(72.3 |
) |
|
— |
|
|
(67.3 |
) |
|
— |
|
|
(139.6 |
) |
Payment of deferred financing costs |
(5.4 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(5.4 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Payment of dividends on common stock |
(15.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(15.8 |
) |
|
(13.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(13.1 |
) |
Proceeds from stock option exercises and
other
|
0.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
0.2 |
|
|
0.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
0.3 |
|
Payments for employee taxes on net
settlement equity awards
|
(1.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1.8 |
) |
|
(4.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(4.1 |
) |
Other, net |
— |
|
|
— |
|
|
3.3 |
|
|
— |
|
|
3.3 |
|
|
— |
|
|
— |
|
|
(0.9 |
) |
|
— |
|
|
(0.9 |
) |
Net cash provided by (used in)
financing activities
|
1,217.9 |
|
|
— |
|
|
3.5 |
|
|
— |
|
|
1,221.4 |
|
|
16.8 |
|
|
— |
|
|
(14.0 |
) |
|
— |
|
|
2.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rates on cash and
cash equivalents
|
— |
|
|
— |
|
|
0.4 |
|
|
— |
|
|
0.4 |
|
|
— |
|
|
— |
|
|
0.3 |
|
|
— |
|
|
0.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flow |
(281.8 |
) |
|
(7.9 |
) |
|
33.2 |
|
|
— |
|
|
(256.5 |
) |
|
(0.7 |
) |
|
(1.6 |
) |
|
11.1 |
|
|
— |
|
|
8.8 |
|
Cash, cash equivalents and restricted cash at
beginning of period
|
283.1 |
|
|
9.6 |
|
|
106.7 |
|
|
— |
|
|
399.4 |
|
|
1.1 |
|
|
5.8 |
|
|
49.6 |
|
|
— |
|
|
56.5 |
|
Cash, cash equivalents and restricted cash at
end of period
|
$ |
1.3 |
|
|
$ |
1.7 |
|
|
$ |
139.9 |
|
|
$ |
— |
|
|
$ |
142.9 |
|
|
$ |
0.4 |
|
|
$ |
4.2 |
|
|
$ |
60.7 |
|
|
$ |
— |
|
|
$ |
65.3 |
|
|