| Schedule of Supplemental Condensed Consolidating Financial Position |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Condensed Consolidating Statement of Financial Position |
As of March 31, 2018 |
(In Millions) |
|
Cleveland-Cliffs Inc. |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
753.6 |
|
|
$ |
1.0 |
|
|
$ |
32.0 |
|
|
$ |
— |
|
|
$ |
786.6 |
|
Accounts receivable, net |
5.7 |
|
|
27.7 |
|
|
15.9 |
|
|
(2.1 |
) |
|
47.2 |
|
Inventories |
— |
|
|
303.2 |
|
|
21.2 |
|
|
— |
|
|
324.4 |
|
Supplies and other inventories |
— |
|
|
81.4 |
|
|
0.3 |
|
|
— |
|
|
81.7 |
|
Derivative assets |
— |
|
|
93.6 |
|
|
— |
|
|
— |
|
|
93.6 |
|
Loans to and accounts receivable from the Canadian Entities |
43.5 |
|
|
6.9 |
|
|
— |
|
|
— |
|
|
50.4 |
|
Other current assets |
15.5 |
|
|
7.9 |
|
|
5.1 |
|
|
— |
|
|
28.5 |
|
TOTAL CURRENT ASSETS |
818.3 |
|
|
521.7 |
|
|
74.5 |
|
|
(2.1 |
) |
|
1,412.4 |
|
PROPERTY, PLANT AND EQUIPMENT, NET |
16.2 |
|
|
956.9 |
|
|
74.2 |
|
|
— |
|
|
1,047.3 |
|
OTHER ASSETS |
|
|
|
|
|
|
|
|
|
Deposits for property, plant and equipment |
— |
|
|
1.9 |
|
|
72.2 |
|
|
— |
|
|
74.1 |
|
Income tax receivable |
219.9 |
|
|
— |
|
|
— |
|
|
— |
|
|
219.9 |
|
Investment in subsidiaries |
1,185.7 |
|
|
27.4 |
|
|
— |
|
|
(1,213.1 |
) |
|
— |
|
Long-term intercompany notes |
— |
|
|
— |
|
|
242.0 |
|
|
(242.0 |
) |
|
— |
|
Other non-current assets |
8.9 |
|
|
97.9 |
|
|
2.4 |
|
|
— |
|
|
109.2 |
|
TOTAL OTHER ASSETS |
1,414.5 |
|
|
127.2 |
|
|
316.6 |
|
|
(1,455.1 |
) |
|
403.2 |
|
TOTAL ASSETS |
$ |
2,249.0 |
|
|
$ |
1,605.8 |
|
|
$ |
465.3 |
|
|
$ |
(1,457.2 |
) |
|
$ |
2,862.9 |
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
Accounts payable |
$ |
4.6 |
|
|
$ |
71.8 |
|
|
$ |
25.2 |
|
|
$ |
(2.1 |
) |
|
$ |
99.5 |
|
Accrued expenses |
11.1 |
|
|
60.0 |
|
|
23.3 |
|
|
— |
|
|
94.4 |
|
Accrued interest |
28.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
28.2 |
|
Contingent claims |
54.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
54.3 |
|
Partnership distribution payable |
— |
|
|
44.2 |
|
|
— |
|
|
— |
|
|
44.2 |
|
Other current liabilities |
1.8 |
|
|
63.3 |
|
|
39.2 |
|
|
— |
|
|
104.3 |
|
TOTAL CURRENT LIABILITIES |
100.0 |
|
|
239.3 |
|
|
87.7 |
|
|
(2.1 |
) |
|
424.9 |
|
PENSION AND POSTEMPLOYMENT BENEFIT LIABILITIES |
66.1 |
|
|
429.6 |
|
|
(244.3 |
) |
|
— |
|
|
251.4 |
|
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS |
— |
|
|
143.1 |
|
|
38.1 |
|
|
— |
|
|
181.2 |
|
LONG-TERM DEBT |
2,308.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,308.2 |
|
LONG-TERM INTERCOMPANY NOTES |
242.0 |
|
|
— |
|
|
— |
|
|
(242.0 |
) |
|
— |
|
OTHER LIABILITIES |
17.5 |
|
|
142.9 |
|
|
21.6 |
|
|
— |
|
|
182.0 |
|
TOTAL LIABILITIES |
2,733.8 |
|
|
954.9 |
|
|
(96.9 |
) |
|
(244.1 |
) |
|
3,347.7 |
|
EQUITY |
|
|
|
|
|
|
|
|
|
TOTAL CLIFFS SHAREHOLDERS' DEFICIT |
(484.8 |
) |
|
650.9 |
|
|
562.0 |
|
|
(1,213.1 |
) |
|
(485.0 |
) |
NONCONTROLLING INTEREST |
— |
|
|
— |
|
|
0.2 |
|
|
— |
|
|
0.2 |
|
TOTAL DEFICIT |
(484.8 |
) |
|
650.9 |
|
|
562.2 |
|
|
(1,213.1 |
) |
|
(484.8 |
) |
TOTAL LIABILITIES AND DEFICIT |
$ |
2,249.0 |
|
|
$ |
1,605.8 |
|
|
$ |
465.3 |
|
|
$ |
(1,457.2 |
) |
|
$ |
2,862.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
$ |
56.7 |
|
|
$ |
— |
|
|
$ |
1,007.7 |
|
Accounts receivable, net |
4.5 |
|
|
102.9 |
|
|
33.9 |
|
|
(0.7 |
) |
|
140.6 |
|
Inventories |
— |
|
|
138.4 |
|
|
45.0 |
|
|
— |
|
|
183.4 |
|
Supplies and other inventories |
— |
|
|
88.8 |
|
|
5.1 |
|
|
— |
|
|
93.9 |
|
Derivative assets |
— |
|
|
37.9 |
|
|
1.5 |
|
|
— |
|
|
39.4 |
|
Loans to and accounts receivable from the Canadian Entities |
44.7 |
|
|
6.9 |
|
|
— |
|
|
— |
|
|
51.6 |
|
Other current assets |
16.4 |
|
|
7.5 |
|
|
4.1 |
|
|
— |
|
|
28.0 |
|
TOTAL CURRENT ASSETS |
1,014.5 |
|
|
384.5 |
|
|
146.3 |
|
|
(0.7 |
) |
|
1,544.6 |
|
PROPERTY, PLANT AND EQUIPMENT, NET |
17.5 |
|
|
959.0 |
|
|
74.5 |
|
|
— |
|
|
1,051.0 |
|
OTHER ASSETS |
|
|
|
|
|
|
|
|
|
Deposits for property, plant and equipment |
— |
|
|
1.3 |
|
|
16.5 |
|
|
— |
|
|
17.8 |
|
Income tax receivable |
235.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
235.3 |
|
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 |
|
|
5.2 |
|
|
— |
|
|
104.7 |
|
TOTAL OTHER ASSETS |
1,267.4 |
|
|
122.9 |
|
|
263.7 |
|
|
(1,296.2 |
) |
|
357.8 |
|
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 |
|
|
$ |
31.6 |
|
|
$ |
(0.7 |
) |
|
$ |
127.7 |
|
Accrued expenses |
19.0 |
|
|
59.9 |
|
|
28.2 |
|
|
— |
|
|
107.1 |
|
Accrued interest |
31.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
31.4 |
|
Contingent claims |
55.6 |
|
|
— |
|
|
— |
|
|
— |
|
|
55.6 |
|
Partnership distribution payable |
— |
|
|
44.2 |
|
|
— |
|
|
— |
|
|
44.2 |
|
Other current liabilities |
2.1 |
|
|
63.5 |
|
|
20.6 |
|
|
— |
|
|
86.2 |
|
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 |
|
|
55.9 |
|
|
— |
|
|
196.5 |
|
LONG-TERM DEBT |
2,304.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,304.2 |
|
LONG-TERM INTERCOMPANY NOTES |
242.0 |
|
|
— |
|
|
— |
|
|
(242.0 |
) |
|
— |
|
OTHER LIABILITIES |
15.7 |
|
|
147.2 |
|
|
24.0 |
|
|
— |
|
|
186.9 |
|
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) |
|
|
|
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) |
For the Three Months Ended March 31, 2018 |
(In Millions) |
|
Cleveland-Cliffs Inc. |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
REVENUES FROM PRODUCT SALES AND SERVICES |
|
|
|
|
|
|
|
|
|
Product |
$ |
— |
|
|
$ |
169.2 |
|
|
$ |
51.5 |
|
|
$ |
— |
|
|
$ |
220.7 |
|
Freight and venture partners' cost reimbursements |
— |
|
|
10.8 |
|
|
7.5 |
|
|
— |
|
|
18.3 |
|
|
— |
|
|
180.0 |
|
|
59.0 |
|
|
— |
|
|
239.0 |
|
COST OF GOODS SOLD AND OPERATING EXPENSES |
— |
|
|
(118.5 |
) |
|
(124.1 |
) |
|
— |
|
|
(242.6 |
) |
SALES MARGIN |
— |
|
|
61.5 |
|
|
(65.1 |
) |
|
— |
|
|
(3.6 |
) |
OTHER OPERATING EXPENSE |
|
|
|
|
|
|
|
|
|
Selling, general and administrative expenses |
(20.1 |
) |
|
(4.3 |
) |
|
(3.3 |
) |
|
— |
|
|
(27.7 |
) |
Miscellaneous – net |
(0.2 |
) |
|
(5.3 |
) |
|
(3.2 |
) |
|
— |
|
|
(8.7 |
) |
|
(20.3 |
) |
|
(9.6 |
) |
|
(6.5 |
) |
|
— |
|
|
(36.4 |
) |
OPERATING INCOME (LOSS) |
(20.3 |
) |
|
51.9 |
|
|
(71.6 |
) |
|
— |
|
|
(40.0 |
) |
OTHER INCOME (EXPENSE) |
|
|
|
|
|
|
|
|
|
Interest expense, net |
(31.9 |
) |
|
(0.8 |
) |
|
(0.8 |
) |
|
— |
|
|
(33.5 |
) |
Other non-operating income (expense) |
(0.9 |
) |
|
0.5 |
|
|
4.8 |
|
|
— |
|
|
4.4 |
|
|
(32.8 |
) |
|
(0.3 |
) |
|
4.0 |
|
|
— |
|
|
(29.1 |
) |
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
(53.1 |
) |
|
51.6 |
|
|
(67.6 |
) |
|
— |
|
|
(69.1 |
) |
INCOME TAX EXPENSE |
(15.6 |
) |
|
(0.1 |
) |
|
— |
|
|
— |
|
|
(15.7 |
) |
EQUITY IN INCOME (LOSS) OF SUBSIDIARIES |
(15.7 |
) |
|
4.5 |
|
|
— |
|
|
11.2 |
|
|
— |
|
INCOME (LOSS) FROM CONTINUING OPERATIONS |
(84.4 |
) |
|
56.0 |
|
|
(67.6 |
) |
|
11.2 |
|
|
(84.8 |
) |
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX |
0.1 |
|
|
0.2 |
|
|
0.2 |
|
|
— |
|
|
0.5 |
|
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS |
$ |
(84.3 |
) |
|
$ |
56.2 |
|
|
$ |
(67.4 |
) |
|
$ |
11.2 |
|
|
$ |
(84.3 |
) |
OTHER COMPREHENSIVE INCOME |
7.7 |
|
|
5.9 |
|
|
0.8 |
|
|
(6.7 |
) |
|
7.7 |
|
TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS |
$ |
(76.6 |
) |
|
$ |
62.1 |
|
|
$ |
(66.6 |
) |
|
$ |
4.5 |
|
|
$ |
(76.6 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) |
For the Three Months Ended March 31, 2017 |
(In Millions) |
|
Cleveland-Cliffs Inc. |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
REVENUES FROM PRODUCT SALES AND SERVICES |
|
|
|
|
|
|
|
|
|
Product |
$ |
— |
|
|
$ |
247.3 |
|
|
$ |
165.5 |
|
|
$ |
— |
|
|
$ |
412.8 |
|
Freight and venture partners' cost reimbursements |
— |
|
|
38.9 |
|
|
9.9 |
|
|
— |
|
|
48.8 |
|
|
— |
|
|
286.2 |
|
|
175.4 |
|
|
— |
|
|
461.6 |
|
COST OF GOODS SOLD AND OPERATING EXPENSES |
— |
|
|
(237.2 |
) |
|
(128.1 |
) |
|
— |
|
|
(365.3 |
) |
SALES MARGIN |
— |
|
|
49.0 |
|
|
47.3 |
|
|
— |
|
|
96.3 |
|
OTHER OPERATING INCOME (EXPENSE) |
|
|
|
|
|
|
|
|
|
Selling, general and administrative expenses |
(19.5 |
) |
|
(4.4 |
) |
|
(3.8 |
) |
|
— |
|
|
(27.7 |
) |
Miscellaneous – net |
(0.1 |
) |
|
(5.5 |
) |
|
17.1 |
|
|
— |
|
|
11.5 |
|
|
(19.6 |
) |
|
(9.9 |
) |
|
13.3 |
|
|
— |
|
|
(16.2 |
) |
OPERATING INCOME (LOSS) |
(19.6 |
) |
|
39.1 |
|
|
60.6 |
|
|
— |
|
|
80.1 |
|
OTHER INCOME (EXPENSE) |
|
|
|
|
|
|
|
|
|
Interest expense, net |
(41.6 |
) |
|
— |
|
|
(1.2 |
) |
|
— |
|
|
(42.8 |
) |
Loss on extinguishment of debt |
(71.9 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(71.9 |
) |
Other non-operating income (expense) |
(1.0 |
) |
|
(0.8 |
) |
|
4.3 |
|
|
— |
|
|
2.5 |
|
|
(114.5 |
) |
|
(0.8 |
) |
|
3.1 |
|
|
— |
|
|
(112.2 |
) |
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
(134.1 |
) |
|
38.3 |
|
|
63.7 |
|
|
— |
|
|
(32.1 |
) |
INCOME TAX BENEFIT (EXPENSE) |
5.2 |
|
|
(0.8 |
) |
|
(2.6 |
) |
|
— |
|
|
1.8 |
|
EQUITY IN INCOME OF SUBSIDIARIES |
100.4 |
|
|
3.2 |
|
|
— |
|
|
(103.6 |
) |
|
— |
|
INCOME (LOSS) FROM CONTINUING OPERATIONS |
(28.5 |
) |
|
40.7 |
|
|
61.1 |
|
|
(103.6 |
) |
|
(30.3 |
) |
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax |
0.4 |
|
|
0.2 |
|
|
(0.1 |
) |
|
— |
|
|
0.5 |
|
NET INCOME (LOSS) |
(28.1 |
) |
|
40.9 |
|
|
61.0 |
|
|
(103.6 |
) |
|
(29.8 |
) |
LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST |
— |
|
|
1.7 |
|
|
— |
|
|
— |
|
|
1.7 |
|
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS |
$ |
(28.1 |
) |
|
$ |
42.6 |
|
|
$ |
61.0 |
|
|
$ |
(103.6 |
) |
|
$ |
(28.1 |
) |
OTHER COMPREHENSIVE INCOME (LOSS) |
(3.0 |
) |
|
10.8 |
|
|
(17.8 |
) |
|
7.0 |
|
|
(3.0 |
) |
TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS |
$ |
(31.1 |
) |
|
$ |
53.4 |
|
|
$ |
43.2 |
|
|
$ |
(96.6 |
) |
|
$ |
(31.1 |
) |
|
| Schedule of Supplemental Statements of Condensed Consolidating Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Condensed Consolidating Statement of Cash Flows |
For the Three Months Ended March 31, 2018 |
(In Millions) |
|
Cleveland-Cliffs Inc. |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
Net cash used by operating activities |
$ |
(54.7 |
) |
|
$ |
(62.8 |
) |
|
$ |
(25.4 |
) |
|
$ |
— |
|
|
$ |
(142.9 |
) |
INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
|
Purchase of property, plant and equipment |
— |
|
|
(8.1 |
) |
|
(4.3 |
) |
|
— |
|
|
(12.4 |
) |
Deposits for property, plant and equipment |
— |
|
|
(0.8 |
) |
|
(58.2 |
) |
|
— |
|
|
(59.0 |
) |
Intercompany investing |
(137.7 |
) |
|
(4.8 |
) |
|
— |
|
|
142.5 |
|
|
— |
|
Net cash used by investing activities |
(137.7 |
) |
|
(13.7 |
) |
|
(62.5 |
) |
|
142.5 |
|
|
(71.4 |
) |
FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
|
Debt issuance costs |
(1.5 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1.5 |
) |
Intercompany financing |
— |
|
|
75.9 |
|
|
66.6 |
|
|
(142.5 |
) |
|
— |
|
Other financing activities |
(1.4 |
) |
|
(0.5 |
) |
|
(3.6 |
) |
|
— |
|
|
(5.5 |
) |
Net cash provided (used) by financing activities |
(2.9 |
) |
|
75.4 |
|
|
63.0 |
|
|
(142.5 |
) |
|
(7.0 |
) |
EFFECT OF EXCHANGE RATE CHANGES ON CASH |
— |
|
|
— |
|
|
0.2 |
|
|
— |
|
|
0.2 |
|
DECREASE IN CASH AND CASH EQUIVALENTS |
(195.3 |
) |
|
(1.1 |
) |
|
(24.7 |
) |
|
— |
|
|
(221.1 |
) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
948.9 |
|
|
2.1 |
|
|
56.7 |
|
|
— |
|
|
1,007.7 |
|
CASH AND CASH EQUIVALENTS AT END OF PERIOD |
$ |
753.6 |
|
|
$ |
1.0 |
|
|
$ |
32.0 |
|
|
$ |
— |
|
|
$ |
786.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Condensed Consolidating Statement of Cash Flows |
For the Three Months Ended March 31, 2017 |
(In Millions) |
|
Cleveland-Cliffs Inc. |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
Net cash provided (used) by operating activities |
$ |
(99.5 |
) |
|
$ |
(19.7 |
) |
|
$ |
94.1 |
|
|
$ |
— |
|
|
$ |
(25.1 |
) |
INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
|
Purchase of property, plant and equipment |
(0.8 |
) |
|
(24.9 |
) |
|
(0.2 |
) |
|
— |
|
|
(25.9 |
) |
Deposits for property, plant and equipment |
— |
|
|
(2.0 |
) |
|
— |
|
|
— |
|
|
(2.0 |
) |
Intercompany investing |
(56.5 |
) |
|
(0.5 |
) |
|
(45.0 |
) |
|
102.0 |
|
|
— |
|
Other investing activities |
— |
|
|
0.5 |
|
|
— |
|
|
— |
|
|
0.5 |
|
Net cash used by investing activities |
(57.3 |
) |
|
(26.9 |
) |
|
(45.2 |
) |
|
102.0 |
|
|
(27.4 |
) |
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 |
(1,115.5 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,115.5 |
) |
Distributions of partnership equity |
— |
|
|
(8.7 |
) |
|
— |
|
|
— |
|
|
(8.7 |
) |
Intercompany financing |
45.1 |
|
|
55.8 |
|
|
1.1 |
|
|
(102.0 |
) |
|
— |
|
Other financing activities |
(0.5 |
) |
|
(0.7 |
) |
|
(4.4 |
) |
|
— |
|
|
(5.6 |
) |
Net cash provided (used) by financing activities |
81.9 |
|
|
46.4 |
|
|
(3.3 |
) |
|
(102.0 |
) |
|
23.0 |
|
EFFECT OF EXCHANGE RATE CHANGES ON CASH |
— |
|
|
— |
|
|
1.4 |
|
|
— |
|
|
1.4 |
|
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
(74.9 |
) |
|
(0.2 |
) |
|
47.0 |
|
|
— |
|
|
(28.1 |
) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
283.4 |
|
|
2.5 |
|
|
37.5 |
|
|
— |
|
|
323.4 |
|
CASH AND CASH EQUIVALENTS AT END OF PERIOD |
$ |
208.5 |
|
|
$ |
2.3 |
|
|
$ |
84.5 |
|
|
$ |
— |
|
|
$ |
295.3 |
|
|