Rock-Tenn CO

CIK:0000230498|SEC Filings

Condensed Consolidated Statements of Income (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Net sales	$ 2,455.6us-gaap_SalesRevenueNet	$ 2,393.6us-gaap_SalesRevenueNet	$ 4,969.8us-gaap_SalesRevenueNet	$ 4,756.2us-gaap_SalesRevenueNet
Cost of goods sold	1,998.5us-gaap_CostOfGoodsSold	1,966.4us-gaap_CostOfGoodsSold	4,043.2us-gaap_CostOfGoodsSold	3,881.2us-gaap_CostOfGoodsSold
Gross profit	457.1us-gaap_GrossProfit	427.2us-gaap_GrossProfit	926.6us-gaap_GrossProfit	875.0us-gaap_GrossProfit
Selling, general and administrative expenses	252.6	245.5	496.3	480.3
Pension lump sum settlement and retiree medical curtailment, net	0	0	11.9	0
Restructuring and other costs, net	17.2rkt_RestructuringAndOtherCostsNet	14.2rkt_RestructuringAndOtherCostsNet	22.6rkt_RestructuringAndOtherCostsNet	31.8rkt_RestructuringAndOtherCostsNet
Operating profit	187.3us-gaap_OperatingIncomeLoss	167.5us-gaap_OperatingIncomeLoss	395.8us-gaap_OperatingIncomeLoss	362.9us-gaap_OperatingIncomeLoss
Interest expense	(23.0)us-gaap_InterestExpense	(23.2)us-gaap_InterestExpense	(46.3)us-gaap_InterestExpense	(47.2)us-gaap_InterestExpense
Interest income and other income (expense), net	(0.5)us-gaap_NonoperatingIncomeExpense	(0.2)us-gaap_NonoperatingIncomeExpense	(0.3)us-gaap_NonoperatingIncomeExpense	(1.0)us-gaap_NonoperatingIncomeExpense
Equity in income of unconsolidated entities	2.4	1.5	4.6	3.2
Income before income taxes	166.2	145.6	353.8	317.9
Income tax expense	(55.8)us-gaap_IncomeTaxExpenseBenefit	(62.1)us-gaap_IncomeTaxExpenseBenefit	(117.8)us-gaap_IncomeTaxExpenseBenefit	(123.8)us-gaap_IncomeTaxExpenseBenefit
Consolidated net income	110.4us-gaap_ProfitLoss	83.5us-gaap_ProfitLoss	236.0us-gaap_ProfitLoss	194.1us-gaap_ProfitLoss
Less: Net income attributable to noncontrolling interests	(0.6)	(0.7)	(1.1)	(1.6)
Net income attributable to Rock-Tenn Company shareholders	$ 109.8us-gaap_NetIncomeLoss	$ 82.8us-gaap_NetIncomeLoss	$ 234.9us-gaap_NetIncomeLoss	$ 192.5us-gaap_NetIncomeLoss
Basic earnings per share attributable to Rock-Tenn Company shareholders	$ 0.78us-gaap_EarningsPerShareBasic	$ 0.58us-gaap_EarningsPerShareBasic	$ 1.67us-gaap_EarningsPerShareBasic	$ 1.34us-gaap_EarningsPerShareBasic
Diluted earnings per share attributable to Rock-Tenn Company shareholders	$ 0.77us-gaap_EarningsPerShareDiluted	$ 0.57us-gaap_EarningsPerShareDiluted	$ 1.65us-gaap_EarningsPerShareDiluted	$ 1.32us-gaap_EarningsPerShareDiluted
Cash dividends paid per share	$ 0.3205	$ 0.175	$ 0.508025	$ 0.35

Condensed Consolidated Statements of Cash Flows (USD $) In Millions, unless otherwise specified	6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities:
Consolidated net income	$ 236.0us-gaap_ProfitLoss	$ 194.1us-gaap_ProfitLoss
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	304.5	286.6
Deferred income tax expense	87.1us-gaap_DeferredIncomeTaxExpenseBenefit	110.4us-gaap_DeferredIncomeTaxExpenseBenefit
Share-based compensation expense	21.4us-gaap_ShareBasedCompensation	19.6us-gaap_ShareBasedCompensation
Loss (gain) on disposal of plant, equipment and other, net	2.4	(2.3)
Equity in income of unconsolidated entities	(4.6)	(3.2)
Pension and other postretirement funding more than expense	(47.3)rkt_PensionFundingMoreLessThanExpense	(86.5)rkt_PensionFundingMoreLessThanExpense
Impairment adjustments and other non-cash items	(5.6)	5.9
Change in operating assets and liabilities, net of acquisitions:
Accounts receivable	120.5	143.6
Inventories	(22.1)us-gaap_IncreaseDecreaseInInventories	(38.1)us-gaap_IncreaseDecreaseInInventories
Other assets	(90.7)	(33.9)
Accounts payable	(7.4)	(5.8)
Income taxes	(30.3)	(14.4)
Accrued liabilities and other	(13.1)	(44.9)
Net cash provided by operating activities	550.8	531.1
Investing activities:
Capital expenditures	(235.2)	(227.1)
Cash received (paid) for business acquisitions, net of cash acquired	3.7	(60.0)
Return of capital from unconsolidated entities	0.4	0.4
Proceeds from sale of subsidiary and affiliates	0	3.8
Proceeds from sale of property, plant and equipment	8.4	13.3
Proceeds from property, plant and equipment insurance settlement	0	3.4
Net cash provided by (used for) investing activities	(222.7)	(266.2)
Financing activities:
Additions to revolving credit facilities	148.9us-gaap_ProceedsFromLinesOfCredit	142.8us-gaap_ProceedsFromLinesOfCredit
Repayments of revolving credit facilities	(109.0)us-gaap_RepaymentsOfLinesOfCredit	(153.5)us-gaap_RepaymentsOfLinesOfCredit
Additions to debt	110.9us-gaap_ProceedsFromOtherDebt	172.7us-gaap_ProceedsFromOtherDebt
Repayments of debt	(377.8)us-gaap_RepaymentsOfOtherDebt	(329.7)us-gaap_RepaymentsOfOtherDebt
Commercial card program	(0.6)	0
Debt issuance costs	(0.1)us-gaap_PaymentsOfDebtIssuanceCosts	(0.2)us-gaap_PaymentsOfDebtIssuanceCosts
Issuances of common stock, net of related minimum tax withholdings	(26.8)	(13.8)
Purchases of common stock	(8.7)	(53.0)
Excess tax benefits from share-based compensation	16.4	14.5
(Repayments to) advances from unconsolidated entity	(0.4)	2.0
Cash dividends paid to shareholders	(71.4)us-gaap_PaymentsOfDividendsCommonStock	(50.9)us-gaap_PaymentsOfDividendsCommonStock
Cash distributions paid to noncontrolling interests	(1.3)	(0.3)
Net cash used for financing activities	(319.9)	(269.4)
Effect of exchange rate changes on cash and cash equivalents	(1.1)	0.3
Increase (decrease) in cash and cash equivalents	7.1	(4.2)
Cash and cash equivalents at beginning of period	32.6	36.4
Cash and cash equivalents at end of period	39.7	32.2
Supplemental disclosure of cash flow information:
Income taxes, net of refunds	44.6us-gaap_IncomeTaxesPaidNet	14.6us-gaap_IncomeTaxesPaidNet
Interest, net of amounts capitalized	$ 41.6us-gaap_InterestPaidNet	$ 43.1us-gaap_InterestPaidNet