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