RBS GLOBAL INC

CIK:0001213336|SEC Filings

Comprehensive Loss

9 Months Ended

Dec. 31, 2011

6. Comprehensive (Loss) Income

Comprehensive (loss) income consists of the following (in millions):



	Third Quarter Ended					Nine Months Ended
	December 31, 2011			January 1, 2011		December 31, 2011			January 1, 2011
Net income (loss)	$	5.6		$	2.1	$	34.3		$	(52.7	)
Other comprehensive income (loss):
Unrealized gain (loss) on interest rate derivatives, net of tax	1.1			0.8		2.8			(1.7		)
Amortization of pension and postretirement unrecognized prior service costs and actuarial gains, net of tax	0.3			0.3		0.9			1.2
Foreign currency translation adjustments	(8.3		)	4.4		(11.6		)	7.0

Comprehensive (loss) income	$	(1.3	)	$	7.6	$	26.4		$	(46.2	)

Condensed Consolidated Statements of Cash Flows Statement (USD $) In Millions, unless otherwise specified	9 Months Ended
	Dec. 31, 2011	Jan. 01, 2011
Operating activities
Net income (loss)	$ 34.3	$ (52.7)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation	46.2	43.2
Amortization of intangible assets	37.6	36.4
Amortization of deferred financing costs	5.8	5.8
Loss on dispositions of property, plant and equipment	0.8	1.4
Non-cash loss on divestiture	4.5	0
Equity in earnings of unconsolidated affiliates	0	(4.1)
Other non-cash charges	7.4	1.1
Loss on the extinguishment of debt	0	100.8
Stock-based compensation expense	2.7	4.1
Changes in operating assets and liabilities:
Receivables	7.7	(3.9)
Inventories	(12.2)	(16.4)
Other assets	(13.7)	(2.8)
Accounts payable	(16.3)	3.3
Accruals and other	(42.4)	(39.7)
Cash provided by operating activities	62.4	76.5
Investing activities
Expenditures for property, plant and equipment	(39.0)	(19.7)
Acquisitions, net of cash	(256.8)	1.2
Loan receivable for financing under New Market Tax Credit incentive program (see Note 11)	(17.9)	0
Proceeds from dispositions of property, plant, and equipment	5.6	0
Proceeds from divestiture, net of transaction costs	3.4	0
Proceeds from sale of unconsolidated affiliate	0	0.9
Cash used for investing activities	(304.7)	(17.6)
Financing activities
Proceeds from borrowings of long-term debt	1.3	1,145.0
Repayments of long-term debt	(4.0)	(1,070.4)
Proceeds from borrowings of short-term debt	1.0	1.6
Repayments of short-term debt	(8.5)	(1.8)
Proceeds from financing under New Market Tax Credit incentive program (see Note 11)	23.4	0
Proceeds from borrowings on revolving credit facility	89.8	0
Proceeds from borrowings on AR securitization facility	75.0	0
Payment of deferred financing fees	(3.5)	(14.6)
Payment of tender premium	0	(63.5)
Dividend payment to parent company	(100.0)	(2.4)
Excess tax benefit on exercise of stock options	0	0.5
Cash used for financing activities	74.5	(5.6)
Effect of Exchange Rate on Cash and Cash Equivalents	(2.4)	1.4
(Decrease) increase in cash and cash equivalents	(170.2)	54.7
Cash and cash equivalents at beginning of period	390.3	263.2
Cash and cash equivalents at end of period	$ 220.1	$ 317.9

Condensed Consolidated Balance Sheets Statement (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Mar. 31, 2011
Current assets:
Cash and cash equivalents	$ 220.1	$ 390.3
Receivables, net	299.6	270.1
Inventories, net	329.6	283.8
Other current assets	55.2	36.5
Total current assets	904.5	980.7
Property, plant and equipment, net	414.2	358.4
Intangible assets, net	649.7	644.7
Goodwill	1,115.9	1,016.2
Insurance for asbestos claims	65.0	65.0
Pension assets	6.3	4.6
Other assets	48.1	31.5
Assets	3,203.7	3,101.1
Current liabilities:
Current portion of long-term debt	3.3	11.0
Trade payables	180.4	181.7
Compensation and benefits	55.8	67.9
Current portion of pension and postretirement benefit obligations	6.2	6.1
Interest payable	36.3	51.3
Other current liabilities	113.8	85.4
Total current liabilities	395.8	403.4
Long-term debt	2,400.8	2,209.9
Pension and postretirement benefit obligations	111.1	113.2
Deferred income taxes	221.9	224.1
Reserve for asbestos claims	65.0	65.0
Other liabilities	42.6	47.1
Total liabilities	3,237.2	3,062.7
Stockholders' (deficit) equity:
Common stock, $0.01 par value; 3,000 shares authorized and 1,000 shares issued and outstanding	0.1	0.1
Additional paid-in capital	439.8	537.1
Retained deficit	(480.6)	(514.9)
Accumulated other comprehensive loss	8.2	16.1
Total stockholders' (deficit) equity	(32.5)	38.4
Non-controlling interest	(1.0)	0
Total stockholders' (deficit) equity	(33.5)	38.4
Total liabilities and stockholders' (deficit) equity	$ 3,203.7	$ 3,101.1