Schedule of condensed consolidating balance sheets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2020 |
|
September 30, 2019 |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
Cash and cash equivalents |
$ |
145.3 |
|
|
$ |
11.5 |
|
|
$ |
217.2 |
|
|
$ |
— |
|
|
$ |
374.0 |
|
|
$ |
283.1 |
|
|
$ |
9.6 |
|
|
$ |
106.3 |
|
|
$ |
— |
|
|
$ |
399.0 |
|
Trade receivables, net |
— |
|
|
92.3 |
|
|
200.5 |
|
|
— |
|
|
292.8 |
|
|
— |
|
|
113.6 |
|
|
103.8 |
|
|
— |
|
|
217.4 |
|
Receivables from long-term manufacturing contracts |
— |
|
|
13.2 |
|
|
174.1 |
|
|
— |
|
|
187.3 |
|
|
— |
|
|
9.8 |
|
|
171.3 |
|
|
— |
|
|
181.1 |
|
Inventories, net |
— |
|
|
78.2 |
|
|
347.9 |
|
|
(2.8 |
) |
|
423.3 |
|
|
— |
|
|
78.2 |
|
|
101.2 |
|
|
(2.8 |
) |
|
176.6 |
|
Intercompany receivables |
— |
|
|
1,135.2 |
|
|
149.9 |
|
|
(1,285.1 |
) |
|
— |
|
|
— |
|
|
1,179.7 |
|
|
— |
|
|
(1,179.7 |
) |
|
— |
|
Prepaid expenses and other current assets |
4.6 |
|
|
25.3 |
|
|
54.8 |
|
|
2.0 |
|
|
86.7 |
|
|
2.5 |
|
|
6.1 |
|
|
40.1 |
|
|
0.4 |
|
|
49.1 |
|
Total current assets |
149.9 |
|
|
1,355.7 |
|
|
1,144.4 |
|
|
(1,285.9 |
) |
|
1,364.1 |
|
|
285.6 |
|
|
1,397.0 |
|
|
522.7 |
|
|
(1,182.1 |
) |
|
1,023.2 |
|
Property, plant and equipment, net |
3.7 |
|
|
60.8 |
|
|
284.2 |
|
|
— |
|
|
348.7 |
|
|
3.8 |
|
|
61.2 |
|
|
75.3 |
|
|
— |
|
|
140.3 |
|
Operating lease right-of-use assets |
0.7 |
|
|
13.2 |
|
|
151.1 |
|
|
— |
|
|
165.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Intangible assets, net |
2.3 |
|
|
174.3 |
|
|
924.7 |
|
|
— |
|
|
1,101.3 |
|
|
2.4 |
|
|
181.4 |
|
|
271.1 |
|
|
— |
|
|
454.9 |
|
Goodwill |
— |
|
|
170.3 |
|
|
963.2 |
|
|
— |
|
|
1,133.5 |
|
|
— |
|
|
225.0 |
|
|
353.0 |
|
|
— |
|
|
578.0 |
|
Investment in consolidated subsidiaries |
3,947.1 |
|
|
654.1 |
|
|
— |
|
|
(4,601.2 |
) |
|
— |
|
|
2,266.4 |
|
|
655.2 |
|
|
— |
|
|
(2,921.6 |
) |
|
— |
|
Other long-term assets |
49.9 |
|
|
27.4 |
|
|
27.7 |
|
|
(26.9 |
) |
|
78.1 |
|
|
33.8 |
|
|
20.5 |
|
|
3.1 |
|
|
(25.2 |
) |
|
32.2 |
|
Total Assets |
$ |
4,153.6 |
|
|
$ |
2,455.8 |
|
|
$ |
3,495.3 |
|
|
$ |
(5,914.0 |
) |
|
$ |
4,190.7 |
|
|
$ |
2,592.0 |
|
|
$ |
2,540.3 |
|
|
$ |
1,225.2 |
|
|
$ |
(4,128.9 |
) |
|
$ |
2,228.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
$ |
3.9 |
|
|
$ |
60.4 |
|
|
$ |
233.6 |
|
|
$ |
— |
|
|
$ |
297.9 |
|
|
$ |
2.6 |
|
|
$ |
59.0 |
|
|
$ |
174.6 |
|
|
$ |
— |
|
|
$ |
236.2 |
|
Liabilities from long-term manufacturing contracts and advances |
— |
|
|
13.0 |
|
|
163.6 |
|
|
— |
|
|
176.6 |
|
|
— |
|
|
13.5 |
|
|
144.7 |
|
|
— |
|
|
158.2 |
|
Current portion of long-term debt |
45.3 |
|
|
— |
|
|
1.4 |
|
|
— |
|
|
46.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Accrued compensation |
3.0 |
|
|
13.3 |
|
|
61.9 |
|
|
— |
|
|
78.2 |
|
|
6.9 |
|
|
20.8 |
|
|
45.5 |
|
|
— |
|
|
73.2 |
|
Intercompany payables |
1,287.9 |
|
|
— |
|
|
— |
|
|
(1,287.9 |
) |
|
— |
|
|
1,167.0 |
|
|
10.2 |
|
|
5.3 |
|
|
(1,182.5 |
) |
|
— |
|
Other current liabilities |
26.2 |
|
|
54.8 |
|
|
124.5 |
|
|
0.3 |
|
|
205.8 |
|
|
19.2 |
|
|
45.0 |
|
|
67.1 |
|
|
(9.6 |
) |
|
121.7 |
|
Total current liabilities |
1,366.3 |
|
|
141.5 |
|
|
585.0 |
|
|
(1,287.6 |
) |
|
805.2 |
|
|
1,195.7 |
|
|
148.5 |
|
|
437.2 |
|
|
(1,192.1 |
) |
|
589.3 |
|
Long-term debt |
1,754.8 |
|
|
— |
|
|
71.8 |
|
|
— |
|
|
1,826.6 |
|
|
619.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
619.5 |
|
Accrued pension and postretirement healthcare |
0.9 |
|
|
30.4 |
|
|
126.6 |
|
|
— |
|
|
157.9 |
|
|
0.8 |
|
|
32.1 |
|
|
98.4 |
|
|
— |
|
|
131.3 |
|
Operating lease liabilities |
0.4 |
|
|
10.3 |
|
|
120.1 |
|
|
— |
|
|
130.8 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Deferred income taxes |
— |
|
|
12.0 |
|
|
200.7 |
|
|
(25.2 |
) |
|
187.5 |
|
|
— |
|
|
24.0 |
|
|
64.8 |
|
|
(15.2 |
) |
|
73.6 |
|
Other long-term liabilities |
22.2 |
|
|
14.7 |
|
|
18.8 |
|
|
— |
|
|
55.7 |
|
|
21.9 |
|
|
12.5 |
|
|
10.7 |
|
|
— |
|
|
45.1 |
|
Total Liabilities |
3,144.6 |
|
|
208.9 |
|
|
1,123.0 |
|
|
(1,312.8 |
) |
|
3,163.7 |
|
|
1,837.9 |
|
|
217.1 |
|
|
611.1 |
|
|
(1,207.3 |
) |
|
1,458.8 |
|
Hillenbrand Shareholders’ Equity |
1,009.0 |
|
|
2,246.9 |
|
|
2,354.3 |
|
|
(4,601.2 |
) |
|
1,009.0 |
|
|
754.1 |
|
|
2,323.2 |
|
|
598.4 |
|
|
(2,921.6 |
) |
|
754.1 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
18.0 |
|
|
— |
|
|
18.0 |
|
|
— |
|
|
— |
|
|
15.7 |
|
|
— |
|
|
15.7 |
|
Total Shareholders’ Equity |
1,009.0 |
|
|
2,246.9 |
|
|
2,372.3 |
|
|
(4,601.2 |
) |
|
1,027.0 |
|
|
754.1 |
|
|
2,323.2 |
|
|
614.1 |
|
|
(2,921.6 |
) |
|
769.8 |
|
Total Liabilities and Shareholders’ Equity |
$ |
4,153.6 |
|
|
$ |
2,455.8 |
|
|
$ |
3,495.3 |
|
|
$ |
(5,914.0 |
) |
|
$ |
4,190.7 |
|
|
$ |
2,592.0 |
|
|
$ |
2,540.3 |
|
|
$ |
1,225.2 |
|
|
$ |
(4,128.9 |
) |
|
$ |
2,228.6 |
|
|
Schedule of condensed consolidating statements of cash flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended March 31, 2020 |
|
Six Months Ended March 31, 2019 |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
Net cash provided by (used in)
operating activities
|
$ |
2.0 |
|
|
$ |
103.2 |
|
|
$ |
42.6 |
|
|
$ |
(102.5 |
) |
|
$ |
45.3 |
|
|
$ |
(4.7 |
) |
|
$ |
103.0 |
|
|
$ |
54.6 |
|
|
$ |
(106.4 |
) |
|
$ |
46.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
(0.7 |
) |
|
(5.3 |
) |
|
(9.0 |
) |
|
— |
|
|
(15.0 |
) |
|
(0.4 |
) |
|
(3.6 |
) |
|
(4.3 |
) |
|
— |
|
|
(8.3 |
) |
Proceeds from sales of property, plant, and
equipment
|
— |
|
|
0.1 |
|
|
13.2 |
|
|
— |
|
|
13.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Acquisition of businesses, net of cash
acquired
|
(1,503.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,503.1 |
) |
|
— |
|
|
— |
|
|
(26.2 |
) |
|
— |
|
|
(26.2 |
) |
Proceeds from divestiture, net of cash
divested
|
222.4 |
|
|
|
|
|
|
|
|
222.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other, net |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
0.1 |
|
|
— |
|
|
— |
|
|
0.1 |
|
Net cash (used in) provided by investing
activities
|
(1,281.4 |
) |
|
(5.2 |
) |
|
4.2 |
|
|
— |
|
|
(1,282.4 |
) |
|
(0.4 |
) |
|
(3.5 |
) |
|
(30.5 |
) |
|
— |
|
|
(34.4 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from issuance of long-term debt |
725.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
725.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Repayments on long-term debt |
(9.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(9.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Proceeds from revolving credit facilities |
804.0 |
|
|
— |
|
|
278.8 |
|
|
— |
|
|
1,082.8 |
|
|
164.0 |
|
|
— |
|
|
178.0 |
|
|
— |
|
|
342.0 |
|
Repayments on revolving credit facilities |
(338.0 |
) |
|
— |
|
|
(206.7 |
) |
|
— |
|
|
(544.7 |
) |
|
(130.8 |
) |
|
— |
|
|
(193.0 |
) |
|
— |
|
|
(323.8 |
) |
Payment of deferred financing costs |
(7.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(7.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Payment of dividends - intercompany |
— |
|
|
(96.1 |
) |
|
(6.4 |
) |
|
102.5 |
|
|
— |
|
|
— |
|
|
(100.0 |
) |
|
(6.4 |
) |
|
106.4 |
|
|
— |
|
Payment of dividends on common stock |
(31.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(31.7 |
) |
|
(26.2 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(26.2 |
) |
Proceeds from stock option exercises |
0.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
0.2 |
|
|
1.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
1.4 |
|
Payments for employee taxes on net
settlement equity awards
|
(1.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1.8 |
) |
|
(4.2 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(4.2 |
) |
Other, net |
— |
|
|
— |
|
|
(1.1 |
) |
|
— |
|
|
(1.1 |
) |
|
— |
|
|
— |
|
|
(0.5 |
) |
|
— |
|
|
(0.5 |
) |
Net cash provided by (used in)
financing activities
|
1,141.6 |
|
|
(96.1 |
) |
|
64.6 |
|
|
102.5 |
|
|
1,212.6 |
|
|
4.2 |
|
|
(100.0 |
) |
|
(21.9 |
) |
|
106.4 |
|
|
(11.3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rates on cash and
cash equivalents
|
— |
|
|
— |
|
|
(0.5 |
) |
|
— |
|
|
(0.5 |
) |
|
— |
|
|
— |
|
|
2.1 |
|
|
— |
|
|
2.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flow |
(137.8 |
) |
|
1.9 |
|
|
110.9 |
|
|
— |
|
|
(25.0 |
) |
|
(0.9 |
) |
|
(0.5 |
) |
|
4.3 |
|
|
— |
|
|
2.9 |
|
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
|
$ |
145.3 |
|
|
$ |
11.5 |
|
|
$ |
217.6 |
|
|
$ |
— |
|
|
$ |
374.4 |
|
|
$ |
0.2 |
|
|
$ |
5.3 |
|
|
$ |
53.9 |
|
|
$ |
— |
|
|
$ |
59.4 |
|
|