ALLTRISTA CORP

CIK:0000895655|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net sales	$ 8,603.9	$ 8,287.1	$ 7,355.9
Cost of sales	5,912.0	5,654.2	5,241.2
Gross profit	2,691.9	2,632.9	2,114.7
Selling, general and administrative expenses	2,021.3	1,960.0	1,519.8
Restructuring costs, net	12.1	7.7	22.0
Impairment of goodwill, intangibles and other assets	150.8	25.4
Operating earnings (loss)	507.7	639.8	572.9
Interest expense, net	226.1	210.3	195.4
Loss on early extinguishment of debt		56.7	25.9
Income before taxes	281.6	372.8	351.6
Income tax provision	135.1	130.3	147.7
Net income (loss)	$ 146.5	$ 242.5	$ 203.9
Earnings per share:
Basic	$ 0.75	$ 1.31	$ 1.20
Diluted	$ 0.72	$ 1.28	$ 1.18
Weighted average shares outstanding:
Basic	195.8	185.3	170.6
Diluted	204.5	189.8	172.5

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income (loss)	$ 146.5	$ 242.5	$ 203.9
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	245.4	191.1	165.9
Impairment of goodwill, intangibles and other assets	150.8	25.4
Deferred income taxes	(56.7)	(53.5)	(10.7)
Stock-based compensation	131.3	49.7	95.8
Excess tax benefits from stock-based compensation	(25.9)	(38.0)	(11.6)
Other	113.5	43.5	10.7
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable	28.0	(109.1)	16.9
Inventory	(117.9)	(75.6)	103.9
Accounts payable	(53.0)	160.0	4.5
Accrued salaries, wages and employee benefits	(8.4)	1.8	(17.4)
Other assets and liabilities	70.5	38.3	79.2
Net cash provided by operating activities	684.7	627.0	668.5
Cash flows from financing activities:
Net change in short-term debt	(34.0)	25.4	102.0
Proceeds from issuance of long-term debt	1,389.8	1,764.8	1,273.4
Payments on long-term debt	(54.7)	(1,248.0)	(407.7)
Proceeds from issuance of stock, net of transaction fees	1,449.6		748.3
Repurchase of common stock and shares tendered for taxes	(134.1)	(285.3)	(297.8)
Debt issuance costs	(17.7)	(21.4)	(19.8)
Excess tax benefits from stock-based compensation	25.9	38.0	11.6
Other, net	(6.1)	(8.0)	(4.4)
Net cash provided by (used in) financing activities	2,618.7	265.5	1,405.6
Cash flows from investing activities:
Additions to property, plant and equipment	(214.6)	(202.1)	(211.0)
Acquisition of businesses, net of cash acquired	(2,937.1)	(517.4)	(1,820.1)
Other	34.6	8.0	73.7
Net cash provided by (used in) investing activities	(3,117.1)	(711.5)	(1,957.4)
Effect of exchange rate changes on cash and cash equivalents	(52.7)	(144.7)	(22.3)
Net increase in cash and cash equivalents	133.6	36.3	94.4
Cash and cash equivalents at beginning of period	1,164.8	1,128.5	1,034.1
Cash and cash equivalents at end of period	1,298.4	1,164.8	1,128.5
Supplemental cash disclosures:
Taxes paid	126.1	126.1	74.7
Make-whole interest		42.3	12.3
Interest paid	177.9	182.8	181.7
Venezuela
Reconciliation of net income to net cash provided by operating activities:
Venezuela-related charges	$ 60.6	$ 150.9	$ 27.4

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Assets:
Cash and cash equivalents	$ 1,298.4	$ 1,164.8
Accounts receivable, net of allowances of $145.5 in 2015, $119.7 in 2014	1,310.4	1,277.9
Inventories	1,783.2	1,504.7
Deferred taxes on income		166.2
Prepaid expenses and other current assets	262.3	204.4
Total current assets	4,654.3	4,318.0
Property, plant and equipment, net	1,074.4	849.9
Goodwill	4,260.4	2,880.2
Intangibles, net	4,094.6	2,598.5
Other assets	209.4	152.7
Total assets	14,293.1	10,799.3
Liabilities:
Short-term debt and current portion of long-term debt	593.5	594.9
Accounts payable	813.2	809.9
Accrued salaries, wages and employee benefits	206.4	195.1
Other current liabilities	662.2	477.3
Total current liabilities	2,275.3	2,077.2
Long-term debt	5,787.5	4,464.0
Deferred taxes on income	1,603.5	1,222.1
Other non-current liabilities	574.5	426.7
Total liabilities	$ 10,240.8	$ 8,190.0
Commitments and contingencies (see Note 11)
Stockholders' equity:
Preferred stock ($0.01 par value, 5.0 shares authorized, no shares issued and outstanding at December 31, 2015 and 2014)
Common stock ($0.01 par value, 500 and 300 shares authorized at December 31, 2015 and December 31, 2014, respectively, 261.7 and 233.3 shares issued at December 31, 2015 and December 31, 2014, respectively)	$ 2.6	$ 2.3
Additional paid-in capital	4,094.2	2,515.5
Retained earnings	1,431.2	1,284.7
Accumulated other comprehensive income (loss)	(362.1)	(180.7)
Less: Treasury stock (41.9 and 41.3 shares, at cost, at December 31, 2015 and 2014, respectively)	(1,113.6)	(1,012.5)
Total stockholders' equity	4,052.3	2,609.3
Total liabilities and stockholders' equity	$ 14,293.1	$ 10,799.3