Quarterly report pursuant to Section 13 or 15(d)

SUPPLEMENTARY GUARANTOR INFORMATION (Tables)

v3.10.0.1
SUPPLEMENTARY GUARANTOR INFORMATION (Tables)
6 Months Ended
Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Supplemental Condensed Consolidating Financial Position
Unaudited Condensed Consolidating Statement of Financial Position
As of June 30, 2018
(In Millions)
 
Cleveland-Cliffs Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
CURRENT ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
798.4

 
$
1.6

 
$
2.5

 
$

 
$
802.5

Accounts receivable, net
8.0

 
148.2

 
0.1

 
(3.7
)
 
152.6

Inventories

 
256.4

 

 

 
256.4

Supplies and other inventories

 
88.6

 

 

 
88.6

Derivative assets
0.1

 
174.6

 

 

 
174.7

Current assets of discontinued operations

 

 
45.3

 

 
45.3

Other current assets
15.9

 
7.7

 
3.2

 

 
26.8

TOTAL CURRENT ASSETS
822.4

 
677.1

 
51.1

 
(3.7
)
 
1,546.9

PROPERTY, PLANT AND EQUIPMENT, NET
15.5

 
966.2

 
99.6

 

 
1,081.3

OTHER ASSETS
 
 
 
 
 
 
 
 
 
Deposits for property, plant and equipment

 
3.8

 
81.9

 

 
85.7

Income tax receivable
219.9

 

 

 

 
219.9

Investment in subsidiaries
1,299.9

 
32.8

 

 
(1,332.7
)
 

Long-term intercompany notes

 

 
227.4

 
(227.4
)
 

Other non-current assets
8.7

 
107.3

 
1.7

 

 
117.7

TOTAL OTHER ASSETS
1,528.5

 
143.9

 
311.0

 
(1,560.1
)
 
423.3

TOTAL ASSETS
$
2,366.4

 
$
1,787.2

 
$
461.7

 
$
(1,563.8
)
 
$
3,051.5

LIABILITIES
 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
Accounts payable
$
5.2

 
$
88.8

 
$
28.7

 
$
(3.7
)
 
$
119.0

Accrued expenses
13.6

 
71.0

 
0.5

 

 
85.1

Accrued interest
43.1

 

 

 

 
43.1

Partnership distribution payable

 
44.2

 

 

 
44.2

Current liabilities of discontinued operations

 

 
117.3

 

 
117.3

Other current liabilities
1.8

 
62.7

 
1.7

 

 
66.2

TOTAL CURRENT LIABILITIES
63.7

 
266.7

 
148.2

 
(3.7
)
 
474.9

PENSION AND POSTEMPLOYMENT BENEFIT LIABILITIES
65.9

 
428.4

 
(249.3
)
 

 
245.0

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS

 
145.3

 
27.0

 

 
172.3

LONG-TERM DEBT
2,297.0

 

 

 

 
2,297.0

NON-CURRENT LIABILITIES OF DISCONTINUED OPERATIONS

 

 
10.3

 

 
10.3

LONG-TERM INTERCOMPANY NOTES
227.4

 

 

 
(227.4
)
 

OTHER LIABILITIES
18.7

 
139.0

 
0.6

 

 
158.3

TOTAL LIABILITIES
2,672.7

 
979.4

 
(63.2
)
 
(231.1
)
 
3,357.8

EQUITY
 
 
 
 
 
 
 
 
 
TOTAL CLIFFS SHAREHOLDERS' DEFICIT
(306.3
)
 
807.8

 
524.9

 
(1,332.7
)
 
(306.3
)
TOTAL DEFICIT
(306.3
)
 
807.8

 
524.9

 
(1,332.7
)
 
(306.3
)
TOTAL LIABILITIES AND DEFICIT
$
2,366.4

 
$
1,787.2

 
$
461.7

 
$
(1,563.8
)
 
$
3,051.5

Unaudited Condensed Consolidating Statement of Financial Position
As of December 31, 2017
(In Millions)
 
Cleveland-Cliffs Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
CURRENT ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
948.9

 
$
2.1

 
$
27.3

 
$

 
$
978.3

Accounts receivable, net
4.5

 
102.9

 

 
(0.7
)
 
106.7

Inventories

 
138.4

 

 

 
138.4

Supplies and other inventories

 
88.8

 

 

 
88.8

Derivative assets

 
37.9

 

 

 
37.9

Current assets of discontinued operations

 

 
118.5

 

 
118.5

Loans to and accounts receivable from the Canadian Entities
44.7

 
6.9

 

 

 
51.6

Other current assets
16.4

 
7.5

 
0.5

 

 
24.4

TOTAL CURRENT ASSETS
1,014.5

 
384.5

 
146.3

 
(0.7
)
 
1,544.6

PROPERTY, PLANT AND EQUIPMENT, NET
17.5

 
959.0

 
57.3

 

 
1,033.8

OTHER ASSETS
 
 
 
 
 
 
 
 
 
Deposits for property, plant and equipment

 
1.3

 
16.5

 

 
17.8

Income tax receivable
235.3

 

 

 

 
235.3

Non-current assets of discontinued operations

 

 
20.3

 

 
20.3

Investment in subsidiaries
1,024.3

 
29.9

 

 
(1,054.2
)
 

Long-term intercompany notes

 

 
242.0

 
(242.0
)
 

Other non-current assets
7.8

 
91.7

 
2.1

 

 
101.6

TOTAL OTHER ASSETS
1,267.4

 
122.9

 
280.9

 
(1,296.2
)
 
375.0

TOTAL ASSETS
$
2,299.4

 
$
1,466.4

 
$
484.5

 
$
(1,296.9
)
 
$
2,953.4

LIABILITIES
 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
Accounts payable
$
7.1

 
$
89.7

 
$
3.4

 
$
(0.7
)
 
$
99.5

Accrued expenses
19.0

 
59.9

 
0.2

 

 
79.1

Accrued interest
31.4

 

 

 

 
31.4

Contingent claims
55.6

 

 

 

 
55.6

Partnership distribution payable

 
44.2

 

 

 
44.2

Current liabilities of discontinued operations

 

 
75.0

 

 
75.0

Other current liabilities
2.1

 
63.5

 
1.8

 

 
67.4

TOTAL CURRENT LIABILITIES
115.2

 
257.3

 
80.4

 
(0.7
)
 
452.2

PENSION AND POSTEMPLOYMENT BENEFIT LIABILITIES
66.4

 
430.6

 
(239.3
)
 

 
257.7

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS

 
140.6

 
27.1

 

 
167.7

LONG-TERM DEBT
2,304.2

 

 

 

 
2,304.2

NON-CURRENT LIABILITIES OF DISCONTINUED OPERATIONS

 

 
52.2

 

 
52.2

LONG-TERM INTERCOMPANY NOTES
242.0

 

 

 
(242.0
)
 

OTHER LIABILITIES
15.7

 
147.2

 
0.6

 

 
163.5

TOTAL LIABILITIES
2,743.5

 
975.7

 
(79.0
)
 
(242.7
)
 
3,397.5

EQUITY
 
 
 
 
 
 
 
 
 
TOTAL CLIFFS SHAREHOLDERS' DEFICIT
(444.1
)
 
490.7

 
563.3

 
(1,054.2
)
 
(444.3
)
NONCONTROLLING INTEREST

 

 
0.2

 

 
0.2

TOTAL DEFICIT
(444.1
)
 
490.7

 
563.5

 
(1,054.2
)
 
(444.1
)
TOTAL LIABILITIES AND DEFICIT
$
2,299.4

 
$
1,466.4

 
$
484.5

 
$
(1,296.9
)
 
$
2,953.4

Schedule of Supplemental Statements of Condensed Consolidating Operations and Comprehensive Income (Loss)
Unaudited Condensed Consolidating Statement of Operations and Comprehensive Income
For the Three Months Ended June 30, 2018
(In Millions)
 
Cleveland-Cliffs Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
REVENUES FROM PRODUCT SALES AND SERVICES
 
 
 
 
 
 
 
 
 
Product
$

 
$
672.0

 
$

 
$

 
$
672.0

Freight and venture partners' cost reimbursements

 
42.3

 

 

 
42.3

 

 
714.3

 

 

 
714.3

COST OF GOODS SOLD AND OPERATING EXPENSES

 
(429.8
)
 

 

 
(429.8
)
SALES MARGIN

 
284.5

 

 

 
284.5

OTHER OPERATING EXPENSE
 
 
 
 
 
 
 
 
 
Selling, general and administrative expenses
(19.7
)
 
(5.4
)
 
(1.1
)
 

 
(26.2
)
Miscellaneous – net
(0.2
)
 
(3.6
)
 
(0.3
)
 

 
(4.1
)
 
(19.9
)
 
(9.0
)
 
(1.4
)
 

 
(30.3
)
OPERATING INCOME (LOSS)
(19.9
)
 
275.5

 
(1.4
)
 

 
254.2

OTHER INCOME (EXPENSE)
 
 
 
 
 
 
 
 
 
Interest expense, net
(30.8
)
 
(0.6
)
 
0.2

 

 
(31.2
)
Gain on extinguishment of debt
0.2

 

 

 

 
0.2

Other non-operating income (expense)
(0.8
)
 
0.2

 
5.0

 

 
4.4

 
(31.4
)
 
(0.4
)
 
5.2

 

 
(26.6
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(51.3
)
 
275.1

 
3.8

 

 
227.6

INCOME TAX BENEFIT (EXPENSE)
2.1

 
(0.1
)
 
(0.2
)
 

 
1.8

EQUITY IN INCOME (LOSS) OF SUBSIDIARIES
210.4

 
4.6

 

 
(215.0
)
 

INCOME (LOSS) FROM CONTINUING OPERATIONS
161.2

 
279.6

 
3.6

 
(215.0
)
 
229.4

INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX
3.9

 
(0.3
)
 
(67.9
)
 

 
(64.3
)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
165.1

 
$
279.3

 
$
(64.3
)
 
$
(215.0
)
 
$
165.1

OTHER COMPREHENSIVE INCOME
9.1

 
6.0

 
2.2

 
(8.2
)
 
9.1

TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
174.2

 
$
285.3

 
$
(62.1
)
 
$
(223.2
)
 
$
174.2


Unaudited Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
For the Three Months Ended June 30, 2017
(In Millions)
 
Cleveland-Cliffs Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
REVENUES FROM PRODUCT SALES AND SERVICES
 
 
 
 
 
 
 
 
 
Product
$

 
$
417.0

 
$

 
$

 
$
417.0

Freight and venture partners' cost reimbursements

 
54.3

 

 

 
54.3

 

 
471.3

 

 

 
471.3

COST OF GOODS SOLD AND OPERATING EXPENSES

 
(326.6
)
 

 

 
(326.6
)
SALES MARGIN

 
144.7

 

 

 
144.7

OTHER OPERATING EXPENSE
 
 
 
 
 
 
 
 
 
Selling, general and administrative expenses
(19.7
)
 
(5.7
)
 
(1.2
)
 

 
(26.6
)
Miscellaneous – net
(0.8
)
 
(3.7
)
 
1.6

 

 
(2.9
)
 
(20.5
)
 
(9.4
)
 
0.4

 

 
(29.5
)
OPERATING INCOME (LOSS)
(20.5
)
 
135.3

 
0.4

 

 
115.2

OTHER INCOME (EXPENSE)
 
 
 
 
 
 
 
 
 
Interest expense, net
(30.4
)
 

 
0.3

 

 
(30.1
)
Loss on extinguishment of debt
(4.9
)
 

 

 

 
(4.9
)
Other non-operating income (expense)
(1.0
)
 
(0.8
)
 
4.3

 

 
2.5

 
(36.3
)
 
(0.8
)
 
4.6

 

 
(32.5
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(56.8
)
 
134.5

 
5.0

 

 
82.7

INCOME TAX BENEFIT (EXPENSE)
8.0

 
0.8

 
(7.7
)
 

 
1.1

EQUITY IN INCOME (LOSS) OF SUBSIDIARIES
129.6

 
3.4

 

 
(133.0
)
 

INCOME (LOSS) FROM CONTINUING OPERATIONS
80.8

 
138.7

 
(2.7
)
 
(133.0
)
 
83.8

INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX
(49.0
)
 
0.7

 
(5.4
)
 

 
(53.7
)
NET INCOME (LOSS)
31.8

 
139.4

 
(8.1
)
 
(133.0
)
 
30.1

LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST

 
1.7

 

 

 
1.7

NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
31.8

 
$
141.1

 
$
(8.1
)
 
$
(133.0
)
 
$
31.8

OTHER COMPREHENSIVE INCOME (LOSS)
5.0

 
5.7

 
(1.5
)
 
(4.3
)
 
4.9

TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
36.8

 
$
146.8

 
$
(9.6
)
 
$
(137.3
)
 
$
36.7

Unaudited Condensed Consolidating Statement of Operations and Comprehensive Income
For the Six Months Ended June 30, 2018
(In Millions)
 
Cleveland-Cliffs Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
REVENUES FROM PRODUCT SALES AND SERVICES
 
 
 
 
 
 
 
 
 
Product
$

 
$
841.2

 
$

 
$

 
$
841.2

Freight and venture partners' cost reimbursements

 
53.1

 

 

 
53.1

 

 
894.3

 

 

 
894.3

COST OF GOODS SOLD AND OPERATING EXPENSES

 
(548.3
)
 

 

 
(548.3
)
SALES MARGIN

 
346.0

 

 

 
346.0

OTHER OPERATING EXPENSE
 
 
 
 
 
 
 
 
 
Selling, general and administrative expenses
(39.8
)
 
(9.7
)
 
(1.8
)
 

 
(51.3
)
Miscellaneous – net
(0.4
)
 
(8.9
)
 
(0.9
)
 

 
(10.2
)
 
(40.2
)
 
(18.6
)
 
(2.7
)
 

 
(61.5
)
OPERATING INCOME
(40.2
)
 
327.4

 
(2.7
)
 

 
284.5

OTHER INCOME (EXPENSE)
 
 
 
 
 
 
 
 
 
Interest expense, net
(62.7
)
 
(1.4
)
 
0.5

 

 
(63.6
)
Gain on extinguishment of debt
0.2

 

 

 

 
0.2

Other non-operating income (expense)
(1.7
)
 
0.7

 
9.8

 

 
8.8

 
(64.2
)
 
(0.7
)
 
10.3

 

 
(54.6
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(104.4
)
 
326.7

 
7.6

 

 
229.9

INCOME TAX EXPENSE
(13.5
)
 
(0.2
)
 
(0.2
)
 

 
(13.9
)
EQUITY IN INCOME (LOSS) OF SUBSIDIARIES
194.7

 
9.1

 

 
(203.8
)
 

INCOME (LOSS) FROM CONTINUING OPERATIONS
76.8

 
335.6

 
7.4

 
(203.8
)
 
216.0

INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX
4.0

 
(0.1
)
 
(139.1
)
 

 
(135.2
)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
80.8

 
$
335.5

 
$
(131.7
)
 
$
(203.8
)
 
$
80.8

OTHER COMPREHENSIVE INCOME
16.8

 
11.9

 
3.0

 
(14.9
)
 
16.8

TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
97.6

 
$
347.4

 
$
(128.7
)
 
$
(218.7
)
 
$
97.6

Unaudited Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
For the Six Months Ended June 30, 2017
(In Millions)
 
Cleveland-Cliffs Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
REVENUES FROM PRODUCT SALES AND SERVICES
 
 
 
 
 
 
 
 
 
Product
$

 
$
664.3

 
$

 
$

 
$
664.3

Freight and venture partners' cost reimbursements

 
93.2

 

 

 
93.2

 

 
757.5

 

 

 
757.5

COST OF GOODS SOLD AND OPERATING EXPENSES

 
(563.8
)
 

 

 
(563.8
)
SALES MARGIN

 
193.7

 

 

 
193.7

OTHER OPERATING INCOME (EXPENSE)
 
 
 
 
 
 
 
 
 
Selling, general and administrative expenses
(39.2
)
 
(10.1
)
 
(2.4
)
 

 
(51.7
)
Miscellaneous – net
(0.9
)
 
(9.2
)
 
16.7

 

 
6.6

 
(40.1
)
 
(19.3
)
 
14.3

 

 
(45.1
)
OPERATING INCOME
(40.1
)
 
174.4

 
14.3

 

 
148.6

OTHER INCOME (EXPENSE)
 
 
 
 
 
 
 
 
 
Interest expense, net
(72.0
)
 

 
0.5

 

 
(71.5
)
Loss on extinguishment of debt
(76.8
)
 

 

 

 
(76.8
)
Other non-operating income (expense)
(2.0
)
 
(1.6
)
 
8.6

 

 
5.0

 
(150.8
)
 
(1.6
)
 
9.1

 

 
(143.3
)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(190.9
)
 
172.8

 
23.4

 

 
5.3

INCOME TAX BENEFIT (EXPENSE)
0.2

 

 
(0.2
)
 

 

EQUITY IN INCOME OF SUBSIDIARIES
243.0

 
6.6

 

 
(249.6
)
 

INCOME (LOSS) FROM CONTINUING OPERATIONS
52.3

 
179.4

 
23.2

 
(249.6
)
 
5.3

INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax
(48.6
)
 
0.9

 
42.7

 

 
(5.0
)
NET INCOME (LOSS)
3.7

 
180.3

 
65.9

 
(249.6
)
 
0.3

LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST

 
3.4

 

 

 
3.4

NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
3.7

 
$
183.7

 
$
65.9

 
$
(249.6
)
 
$
3.7

OTHER COMPREHENSIVE INCOME (LOSS)
2.0

 
16.5

 
(19.3
)
 
2.7

 
1.9

TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
5.7

 
$
200.2

 
$
46.6

 
$
(246.9
)
 
$
5.6

Schedule of Supplemental Statements of Condensed Consolidating Cash Flows
Unaudited Condensed Consolidating Statement of Cash Flows
For the Six Months Ended June 30, 2018
(In Millions)
 
Cleveland-Cliffs Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net cash provided (used) by operating activities
$
(82.1
)
 
$
86.8

 
$
(54.0
)
 
$

 
$
(49.3
)
INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
Purchase of property, plant and equipment
(0.3
)
 
(24.9
)
 
(16.9
)
 

 
(42.1
)
Deposits for property, plant and equipment

 
(3.6
)
 
(68.7
)
 

 
(72.3
)
Intercompany investing
(35.2
)
 
(5.5
)
 
14.6

 
26.1

 

Proceeds on sale of assets

 
0.4

 
14.2

 

 
14.6

Net cash used by investing activities
(35.5
)
 
(33.6
)
 
(56.8
)
 
26.1

 
(99.8
)
FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Debt issuance costs
(1.5
)
 

 

 

 
(1.5
)
Repurchase of debt
(15.3
)
 

 

 

 
(15.3
)
Intercompany financing
(14.6
)
 
(52.7
)
 
93.4

 
(26.1
)
 

Other financing activities
(1.5
)
 
(1.0
)
 
(6.4
)
 

 
(8.9
)
Net cash used by financing activities
(32.9
)
 
(53.7
)
 
87.0

 
(26.1
)
 
(25.7
)
EFFECT OF EXCHANGE RATE CHANGES ON CASH

 

 
(1.0
)
 

 
(1.0
)
DECREASE IN CASH AND CASH EQUIVALENTS, INCLUDING CASH CLASSIFIED WITHIN CURRENT ASSETS OF DISCONTINUED OPERATIONS
(150.5
)
 
(0.5
)
 
(24.8
)
 

 
(175.8
)
LESS: INCREASE IN CASH AND CASH EQUIVALENTS CLASSIFIED WITHIN CURRENT ASSETS OF DISCONTINUED OPERATIONS

 

 

 

 

NET DECREASE IN CASH AND CASH EQUIVALENTS
(150.5
)
 
(0.5
)
 
(24.8
)
 

 
(175.8
)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
948.9

 
2.1

 
27.3

 

 
978.3

CASH AND CASH EQUIVALENTS AT END OF PERIOD
$
798.4

 
$
1.6

 
$
2.5

 
$

 
$
802.5


Unaudited Condensed Consolidating Statement of Cash Flows
For the Six Months Ended June 30, 2017
(In Millions)
 
Cleveland-Cliffs Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net cash provided (used) by operating activities
$
(128.8
)
 
$
106.3

 
$
90.3

 
$

 
$
67.8

INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
Purchase of property, plant and equipment
(0.8
)
 
(42.7
)
 
(0.8
)
 

 
(44.3
)
Deposits for property, plant and equipment

 
(5.1
)
 

 

 
(5.1
)
Intercompany investing
43.5

 
(1.1
)
 
(45.0
)
 
2.6

 

Proceeds on sales of assets

 
1.1

 

 

 
1.1

Net cash provided (used) by investing activities
42.7

 
(47.8
)
 
(45.8
)
 
2.6

 
(48.3
)
FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Net proceeds from issuance of common shares
661.3

 

 

 

 
661.3

Proceeds from issuance of debt
500.0

 

 

 

 
500.0

Debt issuance costs
(8.5
)
 

 

 

 
(8.5
)
Repurchase of debt
(1,154.0
)
 

 

 

 
(1,154.0
)
Distributions of partnership equity

 
(8.7
)
 

 

 
(8.7
)
Intercompany financing
45.0

 
(44.3
)
 
1.9

 
(2.6
)
 

Other financing activities
(0.6
)
 
(5.0
)
 
(8.3
)
 

 
(13.9
)
Net cash used by financing activities
43.2

 
(58.0
)
 
(6.4
)
 
(2.6
)
 
(23.8
)
EFFECT OF EXCHANGE RATE CHANGES ON CASH

 

 
2.4

 

 
2.4

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS, INCLUDING CASH CLASSIFIED WITHIN CURRENT ASSETS OF DISCONTINUED OPERATIONS
(42.9
)
 
0.5

 
40.5

 

 
(1.9
)
LESS: INCREASE IN CASH AND CASH EQUIVALENTS CLASSIFIED WITHIN CURRENT ASSETS OF DISCONTINUED OPERATIONS

 

 
40.5

 

 
40.5

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(42.9
)
 
0.5

 

 

 
(42.4
)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
283.4

 
2.5

 
26.9

 

 
312.8

CASH AND CASH EQUIVALENTS AT END OF PERIOD
$
240.5

 
$
3.0

 
$
26.9

 
$

 
$
270.4