Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Information (Tables)

v2.4.1.9
Condensed Consolidating Information (Tables)
 3 Months Ended
Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule of condensed consolidating statements of income
 
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 revenue
$
—

 
$
216.7

 
$
233.5

 
$
(48.7
)
 
$
401.5

 
$
—

 
$
200.3

 
$
225.0

 
$
(40.4
)
 
$
384.9

Cost of goods sold
—

 
114.3

 
172.8

 
(24.0
)
 
263.1

 
—

 
102.5

 
166.6

 
(15.2
)
 
253.9

Gross profit
—

 
102.4

 
60.7

 
(24.7
)
 
138.4

 
—

 
97.8

 
58.4

 
(25.2
)
 
131.0

Operating expenses
8.1

 
62.9

 
44.9

 
(24.7
)
 
91.2

 
9.0

 
61.9

 
48.3

 
(25.2
)
 
94.0

Operating profit
(8.1
)
 
39.5

 
15.8

 
—

 
47.2

 
(9.0
)
 
35.9

 
10.1

 
—

 
37.0

Interest expense
4.9

 
—

 
0.8

 
—

 
5.7

 
4.9

 
0.1

 
1.3

 
—

 
6.3

Other income (expense), net
—

 
—

 
—

 
—

 
—

 
(0.1
)
 
(0.7
)
 
0.7

 
—

 
(0.1
)
Equity in net income (loss) of subsidiaries
34.1

 
2.2

 
—

 
(36.3
)
 
—

 
28.6

 
1.9

 
—

 
(30.5
)
 
—

Income (loss) before income taxes
21.1

 
41.7

 
15.0

 
(36.3
)
 
41.5

 
14.6

 
37.0

 
9.5

 
(30.5
)
 
30.6

Income tax expense (benefit)
(8.4
)
 
14.9

 
5.3

 
—

 
11.8

 
(5.7
)
 
13.2

 
1.5

 
—

 
9.0

Consolidated net income
29.5

 
26.8

 
9.7

 
(36.3
)
 
29.7

 
20.3

 
23.8

 
8.0

 
(30.5
)
 
21.6

Less: Net income attributable to noncontrolling interests
—

 
—

 
0.2

 
—

 
0.2

 
—

 
—

 
1.3

 
—

 
1.3

Net income (1)
$
29.5

 
$
26.8

 
$
9.5

 
$
(36.3
)
 
$
29.5

 
$
20.3

 
$
23.8

 
$
6.7

 
$
(30.5
)
 
$
20.3

Consolidated comprehensive income
$
9.8

 
$
27.6

 
$
2.3

 
$
(29.8
)
 
$
9.9

 
$
31.8

 
$
24.5

 
$
18.7

 
$
(42.0
)
 
$
33.0

Less: Comprehensive income attributable to noncontrolling interests
—

 
—

 
0.1

 
—

 
0.1

 
—

 
—

 
1.2

 
—

 
1.2

Comprehensive income (2)
$
9.8

 
$
27.6

 
$
2.2

 
$
(29.8
)
 
$
9.8

 
$
31.8

 
$
24.5

 
$
17.5

 
$
(42.0
)
 
$
31.8


 (1) Net income attributable to Hillenbrand
(2) Comprehensive income attributable to Hillenbrand
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