Schedule of condensed consolidating balance sheets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2014 |
|
September 30, 2014 |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
Cash and equivalents |
$ |
1.0 |
|
|
$ |
9.0 |
|
|
$ |
42.0 |
|
|
$ |
— |
|
|
$ |
52.0 |
|
|
$ |
0.4 |
|
|
$ |
10.6 |
|
|
$ |
47.0 |
|
|
$ |
— |
|
|
$ |
58.0 |
|
Trade receivables, net |
— |
|
|
105.9 |
|
|
68.4 |
|
|
— |
|
|
174.3 |
|
|
— |
|
|
113.2 |
|
|
77.8 |
|
|
— |
|
|
191.0 |
|
Unbilled receivables from long-term manufacturing contracts |
— |
|
|
5.0 |
|
|
147.8 |
|
|
— |
|
|
152.8 |
|
|
— |
|
|
4.0 |
|
|
145.3 |
|
|
— |
|
|
149.3 |
|
Inventories |
— |
|
|
73.9 |
|
|
106.4 |
|
|
(3.2 |
) |
|
177.1 |
|
|
— |
|
|
69.7 |
|
|
101.8 |
|
|
(3.0 |
) |
|
168.5 |
|
Deferred income taxes |
13.3 |
|
|
17.3 |
|
|
2.6 |
|
|
— |
|
|
33.2 |
|
|
10.6 |
|
|
17.3 |
|
|
2.6 |
|
|
— |
|
|
30.5 |
|
Prepaid expense |
3.1 |
|
|
5.3 |
|
|
11.8 |
|
|
— |
|
|
20.2 |
|
|
2.5 |
|
|
4.9 |
|
|
11.6 |
|
|
— |
|
|
19.0 |
|
Intercompany receivables |
290.7 |
|
|
1,152.3 |
|
|
30.8 |
|
|
(1,473.8 |
) |
|
— |
|
|
291.0 |
|
|
1,189.9 |
|
|
5.3 |
|
|
(1,486.2 |
) |
|
— |
|
Other current assets |
1.0 |
|
|
1.8 |
|
|
16.7 |
|
|
— |
|
|
19.5 |
|
|
1.2 |
|
|
2.1 |
|
|
17.8 |
|
|
0.4 |
|
|
21.5 |
|
Total current assets |
309.1 |
|
|
1,370.5 |
|
|
426.5 |
|
|
(1,477.0 |
) |
|
629.1 |
|
|
305.7 |
|
|
1,411.7 |
|
|
409.2 |
|
|
(1,488.8 |
) |
|
637.8 |
|
Property, plant and equipment, net |
6.7 |
|
|
65.9 |
|
|
85.3 |
|
|
— |
|
|
157.9 |
|
|
6.7 |
|
|
65.4 |
|
|
87.4 |
|
|
— |
|
|
159.5 |
|
Intangible assets, net |
2.4 |
|
|
183.2 |
|
|
308.1 |
|
|
— |
|
|
493.7 |
|
|
2.5 |
|
|
186.1 |
|
|
321.9 |
|
|
— |
|
|
510.5 |
|
Goodwill |
— |
|
|
211.7 |
|
|
347.0 |
|
|
— |
|
|
558.7 |
|
|
— |
|
|
211.7 |
|
|
359.0 |
|
|
— |
|
|
570.7 |
|
Investment in consolidated subsidiaries |
2,039.3 |
|
|
643.8 |
|
|
— |
|
|
(2,683.1 |
) |
|
— |
|
|
2,000.2 |
|
|
644.0 |
|
|
— |
|
|
(2,644.2 |
) |
|
— |
|
Other assets |
35.6 |
|
|
26.9 |
|
|
4.1 |
|
|
(21.8 |
) |
|
44.8 |
|
|
25.8 |
|
|
9.9 |
|
|
4.3 |
|
|
— |
|
|
40.0 |
|
Total Assets |
$ |
2,393.1 |
|
|
$ |
2,502.0 |
|
|
$ |
1,171.0 |
|
|
$ |
(4,181.9 |
) |
|
$ |
1,884.2 |
|
|
$ |
2,340.9 |
|
|
$ |
2,528.8 |
|
|
$ |
1,181.8 |
|
|
$ |
(4,133.0 |
) |
|
$ |
1,918.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade accounts payable |
$ |
1.3 |
|
|
$ |
20.9 |
|
|
$ |
117.9 |
|
|
$ |
— |
|
|
$ |
140.1 |
|
|
$ |
3.0 |
|
|
$ |
32.8 |
|
|
$ |
156.8 |
|
|
$ |
— |
|
|
$ |
192.6 |
|
Liabilities from long-term manufacturing contracts and advances |
— |
|
|
25.0 |
|
|
50.9 |
|
|
— |
|
|
75.9 |
|
|
— |
|
|
20.4 |
|
|
55.7 |
|
|
— |
|
|
76.1 |
|
Current portion of long-term debt |
9.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
9.0 |
|
|
15.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
15.0 |
|
Accrued compensation |
22.4 |
|
|
16.5 |
|
|
7.5 |
|
|
— |
|
|
46.4 |
|
|
5.0 |
|
|
55.3 |
|
|
9.3 |
|
|
— |
|
|
69.6 |
|
Deferred income taxes |
— |
|
|
— |
|
|
23.8 |
|
|
— |
|
|
23.8 |
|
|
— |
|
|
1.6 |
|
|
19.1 |
|
|
— |
|
|
20.7 |
|
Intercompany payables |
1,192.0 |
|
|
285.0 |
|
|
— |
|
|
(1,477.0 |
) |
|
— |
|
|
1,202.7 |
|
|
286.5 |
|
|
— |
|
|
(1,489.2 |
) |
|
— |
|
Other current liabilities |
4.7 |
|
|
49.1 |
|
|
73.0 |
|
|
(20.5 |
) |
|
106.3 |
|
|
4.1 |
|
|
61.6 |
|
|
51.0 |
|
|
0.4 |
|
|
117.1 |
|
Total current liabilities |
1,229.4 |
|
|
396.5 |
|
|
273.1 |
|
|
(1,497.5 |
) |
|
401.5 |
|
|
1,229.8 |
|
|
458.2 |
|
|
291.9 |
|
|
(1,488.8 |
) |
|
491.1 |
|
Long-term debt |
583.8 |
|
|
— |
|
|
24.3 |
|
|
— |
|
|
608.1 |
|
|
525.9 |
|
|
— |
|
|
17.6 |
|
|
— |
|
|
543.5 |
|
Accrued pension and postretirement healthcare |
1.0 |
|
|
94.9 |
|
|
100.9 |
|
|
— |
|
|
196.8 |
|
|
1.0 |
|
|
94.2 |
|
|
105.7 |
|
|
— |
|
|
200.9 |
|
Deferred income taxes |
0.4 |
|
|
16.4 |
|
|
36.9 |
|
|
— |
|
|
53.7 |
|
|
0.8 |
|
|
15.1 |
|
|
39.5 |
|
|
— |
|
|
55.4 |
|
Other long-term liabilities |
0.1 |
|
|
25.3 |
|
|
11.1 |
|
|
(1.3 |
) |
|
35.2 |
|
|
0.1 |
|
|
27.7 |
|
|
6.0 |
|
|
— |
|
|
33.8 |
|
Total Liabilities |
1,814.7 |
|
|
533.1 |
|
|
446.3 |
|
|
(1,498.8 |
) |
|
1,295.3 |
|
|
1,757.6 |
|
|
595.2 |
|
|
460.7 |
|
|
(1,488.8 |
) |
|
1,324.7 |
|
Total Hillenbrand Shareholders’ Equity |
578.4 |
|
|
1,968.9 |
|
|
714.2 |
|
|
(2,683.1 |
) |
|
578.4 |
|
|
583.3 |
|
|
1,933.6 |
|
|
710.6 |
|
|
(2,644.2 |
) |
|
583.3 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
10.5 |
|
|
— |
|
|
10.5 |
|
|
— |
|
|
— |
|
|
10.5 |
|
|
— |
|
|
10.5 |
|
Total Equity |
578.4 |
|
|
1,968.9 |
|
|
724.7 |
|
|
(2,683.1 |
) |
|
588.9 |
|
|
583.3 |
|
|
1,933.6 |
|
|
721.1 |
|
|
(2,644.2 |
) |
|
593.8 |
|
Total Liabilities and Equity |
$ |
2,393.1 |
|
|
$ |
2,502.0 |
|
|
$ |
1,171.0 |
|
|
$ |
(4,181.9 |
) |
|
$ |
1,884.2 |
|
|
$ |
2,340.9 |
|
|
$ |
2,528.8 |
|
|
$ |
1,181.8 |
|
|
$ |
(4,133.0 |
) |
|
$ |
1,918.5 |
|
|
Schedule of condensed consolidating statements of cash flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2014 |
|
Three Months Ended December 31, 2013 |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
|
Parent |
|
Guarantors |
|
Non-
Guarantors
|
|
Eliminations |
|
Consolidated |
Net cash provided by (used in) operating activities |
$ |
(33.3 |
) |
|
$ |
3.6 |
|
|
$ |
(12.2 |
) |
|
$ |
— |
|
|
$ |
(41.9 |
) |
|
$ |
11.8 |
|
|
$ |
2.2 |
|
|
$ |
31.9 |
|
|
$ |
— |
|
|
$ |
45.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
(0.3 |
) |
|
(3.3 |
) |
|
(2.1 |
) |
|
— |
|
|
(5.7 |
) |
|
(0.3 |
) |
|
(1.9 |
) |
|
(3.4 |
) |
|
— |
|
|
(5.6 |
) |
Proceeds from property, plant, and equipment |
— |
|
|
0.5 |
|
|
— |
|
|
— |
|
|
0.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other, net |
— |
|
|
(2.4 |
) |
|
(0.2 |
) |
|
— |
|
|
(2.6 |
) |
|
(0.6 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(0.6 |
) |
Net cash used in investing activities |
(0.3 |
) |
|
(5.2 |
) |
|
(2.3 |
) |
|
— |
|
|
(7.8 |
) |
|
(0.9 |
) |
|
(1.9 |
) |
|
(3.4 |
) |
|
— |
|
|
(6.2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments on term loan |
(2.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2.3 |
) |
|
(2.5 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2.5 |
) |
Proceeds from revolving credit facilities |
111.5 |
|
|
— |
|
|
37.8 |
|
|
— |
|
|
149.3 |
|
|
76.5 |
|
|
— |
|
|
17.7 |
|
|
— |
|
|
94.2 |
|
Repayments on revolving credit facilities |
(157.5 |
) |
|
— |
|
|
(29.7 |
) |
|
— |
|
|
(187.2 |
) |
|
(80.0 |
) |
|
— |
|
|
(25.9 |
) |
|
— |
|
|
(105.9 |
) |
Proceeds from unsecured Series A Notes, net of financing costs |
99.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
99.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Payment of dividends on common stock |
(12.6 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(12.6 |
) |
|
(12.4 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(12.4 |
) |
Repurchases of common stock |
(6.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(6.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Net proceeds (payments) on stock plans |
1.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
1.2 |
|
|
7.6 |
|
|
— |
|
|
— |
|
|
— |
|
|
7.6 |
|
Other, net |
1.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
1.0 |
|
|
0.5 |
|
|
— |
|
|
(0.8 |
) |
|
— |
|
|
(0.3 |
) |
Net cash (used in) provided by financing activities |
34.2 |
|
|
— |
|
|
8.1 |
|
|
— |
|
|
42.3 |
|
|
(10.3 |
) |
|
— |
|
|
(9.0 |
) |
|
— |
|
|
(19.3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rates on cash and cash equivalents |
— |
|
|
— |
|
|
1.4 |
|
|
— |
|
|
1.4 |
|
|
— |
|
|
— |
|
|
(0.8 |
) |
|
— |
|
|
(0.8 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flow |
0.6 |
|
|
(1.6 |
) |
|
(5.0 |
) |
|
— |
|
|
(6.0 |
) |
|
0.6 |
|
|
0.3 |
|
|
18.7 |
|
|
— |
|
|
19.6 |
|
Cash and equivalents at beginning of period |
0.4 |
|
|
10.6 |
|
|
47.0 |
|
|
— |
|
|
58.0 |
|
|
0.6 |
|
|
8.7 |
|
|
33.4 |
|
|
— |
|
|
42.7 |
|
Cash and equivalents at end of period |
$ |
1.0 |
|
|
$ |
9.0 |
|
|
$ |
42.0 |
|
|
$ |
— |
|
|
$ |
52.0 |
|
|
$ |
1.2 |
|
|
$ |
9.0 |
|
|
$ |
52.1 |
|
|
$ |
— |
|
|
$ |
62.3 |
|
|