Annual report pursuant to Section 13 and 15(d)

Basis of Presentation (Tables)

v3.3.1.900
Basis of Presentation (Tables)
12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Net Property, Plant and Equipment

At December 31, 2015 and 2014, the Company’s net property, plant and equipment consisted of the following (in millions):

 

 

 

December 31,

 

 

 

2015

 

 

2014

 

Property, plant and equipment — at cost:(1)

 

 

 

 

 

 

 

 

Land and Building

 

$

22.2

 

 

$

22.2

 

Furniture and fixtures

 

 

25.0

 

 

 

25.6

 

Equipment

 

 

652.4

 

 

 

630.4

 

Building and leasehold improvements

 

 

177.0

 

 

 

171.8

 

 

 

 

876.6

 

 

 

850.0

 

Less: accumulated depreciation and amortization(1)

 

 

(537.4

)

 

 

(483.3

)

Net property, plant and equipment

 

$

339.2

 

 

$

366.7

 

 

 

(1)

At year-end 2015, the Company determined that property, plant and equipment at cost and accumulated depreciation as of December 31, 2014, as previously reported, were each understated by approximately $90 million. These understatements offset one another and did not have an impact on the Company’s net property plant and equipment balances and consolidated balance sheets as of December 31, 2014 and 2013. This did not have any impact to the Company’s operating results or cash flows for the years ended December 31, 2014, 2013 and 2012, including the interim periods within those years. Property, plant and equipment at cost and accumulated depreciation as of December 31, 2014, in the table above have been revised to correct for the immaterial impact of these offsetting understatements for comparative purposes.

Components of Accumulated Other Comprehensive Income (Loss)

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

 

 

 

December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

Foreign currency translation adjustment, net of tax

 

$

(183.0

)

 

$

(96.4

)

 

$

(25.6

)

Unrealized gain on derivatives, net of tax

 

 

17.4

 

 

 

18.0

 

 

 

5.7

 

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

 

 

0.1

 

 

 

0.2

 

 

 

0.1

 

Total accumulated other comprehensive loss

 

$

(165.5

)

 

$

(78.2

)

 

$

(19.8

)

 

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,

 

 

 

2015

 

 

2014

 

 

2013

 

Weighted average shares used in basic computations

 

 

82.6

 

 

 

86.3

 

 

 

102.6

 

Dilutive effect of exercise of equity grants outstanding

 

 

2.7

 

 

 

4.5

 

 

 

4.8

 

Weighted average shares used in diluted computations

 

 

85.3

 

 

 

90.8

 

 

 

107.4