Annual report pursuant to Section 13 and 15(d)

Condensed Consolidating Information (Tables)

v3.5.0.2
Condensed Consolidating Information (Tables)
 12 Months Ended
Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule of condensed consolidating statements of income
Condensed Consolidating Statements of Income

 
Year Ended September 30, 2016
 
Year Ended September 30, 2015
 
Year Ended September 30, 2014
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Net revenue
$
—


$
846.8


$
892.8


$
(201.2
)

$
1,538.4


$
—


$
912.0


$
889.0


$
(204.2
)

$
1,596.8


$
—


$
866.1


$
1,001.9


$
(200.8
)

$
1,667.2

Cost of goods sold
—


428.7


638.4


(99.3
)

967.8


—


475.6


654.5


(103.7
)

1,026.4


—


441.9


736.0


(99.9
)

1,078.0

Gross profit
—


418.1


254.4


(101.9
)

570.6


—


436.4


234.5


(100.5
)

570.4


—


424.2


265.9


(100.9
)

589.2

Operating expenses
41.8


242.0


164.6


(101.9
)

346.5


33.1


244.1


153.9


(100.5
)

330.6


41.0


261.4


181.6


(100.9
)

383.1

Amortization expense
—

 
13.0

 
20.0

 
—

 
33.0

 
0.4

 
11.4

 
16.3

 
—

 
28.1

 
0.5

 
11.4

 
19.7

 
—

 
31.6

Pension settlement charge
—


—


—


—


—


3.3


14.4


—


—


17.7


—


—


—


—


—

Interest expense
22.7


0.2


2.4


—


25.3


20.5


0.8


2.5


—


23.8


18.9


0.4


4.0


—


23.3

Other income (expense), net
(0.3
)

(2.2
)

0.8


—


(1.7
)

(0.2
)

(4.0
)

(3.7
)

—


(7.9
)

(0.1
)

8.5


0.3


—


8.7

Equity in net income (loss) of subsidiaries
144.4


10.2


—


(154.6
)

—


141.1


12.5


—


(153.6
)

—


144.4


10.3


—


(154.7
)

—

Income (loss) before income taxes
79.6


170.9


68.2


(154.6
)

164.1


83.6


174.2


58.1


(153.6
)

162.3


83.9


169.8


60.9


(154.7
)

159.9

Income tax expense (benefit)
(33.2
)

62.4


18.1


—


47.3


(27.8
)

60.5


16.4


—


49.1


(25.8
)

59.7


14.8


—


48.7

Consolidated net income
112.8


108.5


50.1


(154.6
)

116.8


111.4


113.7


41.7


(153.6
)

113.2


109.7


110.1


46.1


(154.7
)

111.2

Less: Net income attributable to noncontrolling interests
—


—


4.0


—


4.0


—


—


1.8


—


1.8


—


—


1.5


—


1.5

Net income (loss)(1)
$
112.8


$
108.5


$
46.1


$
(154.6
)

$
112.8


$
111.4


$
113.7


$
39.9


$
(153.6
)

$
111.4


$
109.7


$
110.1


$
44.6


$
(154.7
)

$
109.7

Consolidated comprehensive income (loss)
$
90.9


$
116.4


$
33.1


$
(145.8
)

$
94.6


$
55.7


$
103.5


$
0.8


$
(102.9
)

$
57.1


$
58.9


$
100.7


$
(8.4
)

$
(90.9
)

$
60.3

Less: Comprehensive income attributable to noncontrolling interests
—


—


3.7


—


3.7


—


—


1.4


—


1.4


—


—


1.4


—


1.4

Comprehensive income (loss)(2)
$
90.9


$
116.4


$
29.4


$
(145.8
)

$
90.9


$
55.7


$
103.5


$
(0.6
)

$
(102.9
)

$
55.7


$
58.9


$
100.7


$
(9.8
)

$
(90.9
)

$
58.9


 
(1) Net income attributable to Hillenbrand
(2) Comprehensive income attributable to Hillenbrand
Schedule of condensed consolidating balance sheets
Condensed Consolidating Balance Sheets
 
 
September 30, 2016
 
September 30, 2015
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Cash and equivalents
$
4.4


$
5.6


$
42.0


$
—


$
52.0


$
0.3


$
7.1


$
40.9


$
—


$
48.3

Trade receivables, net
—


120.6


84.4


—


205.0


—


113.4


74.5


—


187.9

Unbilled receivables from long-term manufacturing contracts
—


10.6


115.2


—


125.8


—


13.5


131.4


—


144.9

Inventories
—


69.8


86.1


(2.8
)

153.1


—


69.0


87.1


(2.5
)

153.6

Deferred income taxes
1.6


17.4


—


4.9


23.9


1.8


15.7


4.4


—


21.9

Prepaid expense
2.2


6.5


9.5


—


18.2


2.8


6.5


14.5


—


23.8

Intercompany receivables
—


1,003.1


97.4


(1,100.5
)

—


—


921.8


60.2


(982.0
)

—

Other current assets
4.6


1.5


15.9


0.3


22.3


0.6


1.9


20.8


0.4


23.7

Total current assets
12.8


1,235.1


450.5


(1,098.1
)

600.3


5.5


1,148.9


433.8


(984.1
)

604.1

Property, plant and equipment, net
4.9


65.7


81.9


—


152.5


6.3


66.2


85.8


—


158.3

Intangible assets, net
4.1


220.4


317.0


—


541.5


2.2


175.6


281.8


—


459.6

Goodwill
—


271.8


362.5


—


634.3


—


211.7


332.3


—


544.0

Investment in consolidated subsidiaries
2,143.4


820.2


—


(2,963.6
)

—


2,082.7


836.1


—


(2,918.8
)

—

Other assets
20.1


22.7


0.8


(11.3
)

32.3


24.5


31.0


0.9


(14.3
)

42.1

Total Assets
$
2,185.3


$
2,635.9


$
1,212.7


$
(4,073.0
)

$
1,960.9


$
2,121.2


$
2,469.5


$
1,134.6


$
(3,917.2
)

$
1,808.1

 





























Trade accounts payable
$
0.4


$
28.4


$
106.9


$
—


$
135.7


$
0.5


$
22.7


$
81.3


$
(0.2
)

$
104.3

Liabilities from long-term manufacturing contracts and advances
—


14.0


64.6


—


78.6


—


13.5


66.2


—


79.7

Current portion of long-term debt
13.5


—


0.3


—


13.8


9.0


—


0.4


—


9.4

Accrued compensation
4.7


17.3


35.3


—


57.3


3.9


23.0


35.4


—


62.3

Deferred income taxes
—


—


18.1


4.7


22.8


—


—


25.4


—


25.4

Intercompany payables
1,098.8


4.5


—


(1,103.3
)

—


979.7


4.8


—


(984.5
)

—

Other current liabilities
13.9


39.8


71.6


0.2


125.5


18.1


46.0


58.6


0.4


123.1

Total current liabilities
1,131.3


104.0


296.8


(1,098.4
)

433.7


1,011.2


110.0


267.3


(984.3
)

404.2

Long-term debt
417.8


—


178.5


—


596.3


513.1


—


5.6


—


518.7

Accrued pension and postretirement healthcare
1.1


127.0


104.6


—


232.7


1.1


119.8


97.8


—


218.7

Deferred income taxes
—


5.8


27.8


(11.0
)

22.6


—


17.0


26.5


(14.1
)

29.4

Other long-term liabilities
2.8


16.3


10.3


—


29.4


1.7


20.4


9.2


—


31.3

Total Liabilities
1,553.0


253.1


618.0


(1,109.4
)

1,314.7


1,527.1


267.2


406.4


(998.4
)

1,202.3

Total Hillenbrand Shareholders’ Equity
632.3


2,382.8


580.8


(2,963.6
)

632.3


594.1


2,202.3


716.5


(2,918.8
)

594.1

Noncontrolling interests
—


—


13.9


—


13.9


—


—


11.7


—


11.7

Total Equity
632.3


2,382.8


594.7


(2,963.6
)

646.2


594.1


2,202.3


728.2


(2,918.8
)

605.8

Total Liabilities and Equity
$
2,185.3


$
2,635.9


$
1,212.7


$
(4,073.0
)

$
1,960.9


$
2,121.2


$
2,469.5


$
1,134.6


$
(3,917.2
)

$
1,808.1

Schedule of condensed consolidating statements of cash flows
Condensed Consolidating Statements of Cash Flows
 
 
Year Ended September 30, 2016
 
Year Ended September 30, 2015
 
Year Ended September 30, 2014
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
Parent
 
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
157.8


$
239.9


$
(49.5
)

$
(110.0
)

$
238.2


$
76.0


$
91.0


$
23.6


$
(85.6
)

$
105.0


$
81.8


$
46.9


$
98.2


$
(47.3
)

$
179.6

 












































Investing activities:












 


 


 


 


 


 


 


 


 


 


 

Capital expenditures
(2.6
)

(8.0
)

(10.6
)

—


(21.2
)

(1.1
)

(14.5
)

(15.4
)

—


(31.0
)

(1.0
)

(9.5
)

(13.1
)

—


(23.6
)
Proceeds from property, plant, and equipment
—


1.6


0.4


—


2.0


—


2.8


—


—


2.8


—


0.3


7.2


—


7.5

Proceeds from investments
—


—


—


—


—


—


—


—


—


—


—


5.8


—


—


5.8

Acquisition of business, net of cash acquired
—


(130.4
)

(105.0
)

—


(235.4
)

—


—


—


—


—


—


—


—


—


—

Return of investment capital from affiliates
1.1

 
—

 
—

 
—

 
1.1

 
1.5

 
—

 
—

 
—

 
1.5

 
1.1

 
—

 
0.9

 
—

 
2.0

Other, net
—


—


—


—


—


—


(2.5
)

(0.3
)

—


(2.8
)

—


—


—


—


—

Net cash used in (provided by) investing activities
(1.5
)

(136.8
)

(115.2
)

—


(253.5
)

0.4


(14.2
)

(15.7
)

—


(29.5
)

0.1


(3.4
)

(5.0
)

—


(8.3
)
 












































Financing activities:












 


 


 


 


 


 


 


 


 


 


 

Repayments on term loan
(9.0
)

—


—


—


(9.0
)

(9.0
)

—


—


—


(9.0
)

(10.0
)

—


—


—


(10.0
)
Proceeds from revolving credit facilities
375.5


—


344.3


—


719.8


331.7


—


98.5


—


430.2


248.4


—


68.2


—


316.6

Repayments on revolving credit facilities
(457.5
)

—


(169.7
)

—


(627.2
)

(441.8
)

—


(105.2
)

—


(547.0
)

(269.9
)

—


(140.8
)

—


(410.7
)
Proceeds from Series A unsecured notes, net of financing costs
—


—


—


—


—


99.6


—


—


—


99.6


—


—


—


—


—

Payment of dividends - intercompany
—


(104.6
)

(5.4
)

110.0


—


—


(80.3
)

(5.3
)

85.6


—


—


(41.6
)

(5.7
)

47.3


—

Payment of dividends on common stock
(51.1
)

—


—


—


(51.1
)

(50.4
)

—


—


—


(50.4
)

(49.7
)

—


—


—


(49.7
)
Repurchases of common stock
(21.2
)

—


—


—


(21.2
)

(11.2
)

—


—


—


(11.2
)

(16.5
)

—


—


—


(16.5
)
Net proceeds (payments) on stock plans
11.1


—


—


—


11.1


3.4


—


—


—


3.4


14.6


—


—


—


14.6

Other, net
—


—


(0.8
)

—


(0.8
)

1.2


—


—


—


1.2


1.0


—


(0.8
)

—


0.2

Net cash (used in) provided by financing activities
(152.2
)

(104.6
)

168.4


110.0


21.6


(76.5
)

(80.3
)

(12.0
)

85.6


(83.2
)

(82.1
)

(41.6
)

(79.1
)

47.3


(155.5
)
 












































Effect of exchange rates on cash and cash equivalents
—


—


(2.6
)

—


(2.6
)

—


—


(2.0
)

—


(2.0
)

—


—


(0.5
)

—


(0.5
)
 












































Net cash flow
4.1


(1.5
)

1.1


—


3.7


(0.1
)

(3.5
)

(6.1
)

—


(9.7
)

(0.2
)

1.9


13.6


—


15.3

Cash and equivalents at beginning of period
0.3


7.1


40.9


—


48.3


0.4


10.6


47.0


—


58.0


0.6


8.7


33.4


—


42.7

Cash and equivalents at end of period
$
4.4


$
5.6


$
42.0


$
—


$
52.0


$
0.3


$
7.1


$
40.9


$
—


$
48.3


$
0.4


$
10.6


$
47.0


$
—


$
58.0