Annual report pursuant to Section 13 and 15(d)

Basis of Presentation (Tables)

v2.4.1.9
Basis of Presentation (Tables)
12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Net Property, Plant and Equipment

At December 31, 2014 and 2013, the Company’s net property, plant and equipment consisted of the following (in millions):

 

     December 31,  
     2014      2013  

Property, plant and equipment — at cost:

     

Land and Building

     22.2         22.2   

Furniture and fixtures

     11.4         12.3   

Equipment

     578.5         482.0   

Building and leasehold improvements

     147.8         130.2   
  

 

 

    

 

 

 
     759.9         646.7   

Less: accumulated depreciation and amortization

     (393.2      (327.8
  

 

 

    

 

 

 

Net property, plant and equipment

   $ 366.7       $ 318.9   
  

 

 

    

 

 

 
Components of Accumulated Other Comprehensive Income (Loss)

Components of accumulated other comprehensive income (loss) consisted of the following (in million):

 

     December 31,  
     2014      2013      2012  

Foreign currency translation adjustment, net of tax

   $ (96.4    $ (25.6    $ (28.8

Unrealized gain/(loss) on derivatives, net of tax

     18.0         5.7         (2.9

Unrealized gain on available-for-sale investments, net of tax

     0.2         0.1           
  

 

 

    

 

 

    

 

 

 

Total accumulated other comprehensive income (loss)

   $ (78.2    $ (19.8    $ (31.7
  

 

 

    

 

 

    

 

 

 
Common Share Amounts Used to Compute Basic and Diluted Earnings per Share

The following are the common share amounts used to compute the basic and diluted earnings per share for each period (in millions):

 

     Year Ended December 31,  
     2014      2013      2012  

Weighted average shares used in basic computations

     86.3         102.6         112.4   

Dilutive effect of exercise of equity grants outstanding

     4.5         4.8         5.5   
  

 

 

    

 

 

    

 

 

 

Weighted average shares used in diluted computations

     90.8         107.4         117.9   
  

 

 

    

 

 

    

 

 

 
Investments in Venezuelan Bonds

The Company’s investments in these bonds as of December 31, 2014 are summarized as follows:

 

     Amortized
Costs
     Gross
Unrealized
Gain
     Gross
Unrealized
Loss
     Net
Unrealized
Gain
     Market
Value
 
     (In millions)  

Investments in Venezuelan bonds

   $ 3.4       $ 0.3       $       $ 0.3       $ 3.7   
Schedule of Amortized Cost and Estimated Fair Value of Bonds by Contractual Maturity

The amortized cost and estimated fair value of these bonds as of December 31, 2014 by contractual maturity are as follows:

 

     Amortized Cost      Estimated
Market Value
 
     (In millions)  

Contractual Maturity

  

Due in 1 year or less

   $       $   

Due in 1-2 years

               

Due in 2-5 years

               

Due after 5 years

     3.4         3.7   
  

 

 

    

 

 

 

Total investments

   $ 3.4       $ 3.7