ÐÇ¿Õ´«Ã½

Annual report pursuant to Section 13 and 15(d)

SUPPLEMENTARY GUARANTOR INFORMATION (Tables)

v3.19.3.a.u2
SUPPLEMENTARY GUARANTOR INFORMATION (Tables)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract] Ìý Ìý
Schedule of Supplemental Condensed Consolidating Financial Position
Condensed Consolidating Statement of Financial Position
As of December 31, 2019
(In Millions)
Ìý
ÐÇ¿Õ´«Ã½ Inc.
Ìý
Guarantor Subsidiaries
Ìý
Non-Guarantor Subsidiaries
Ìý
Eliminations
Ìý
Consolidated
ASSETS
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Current Assets:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Cash and cash equivalents
$
349.7

Ìý
$
0.1

Ìý
$
2.8

Ìý
$
—

Ìý
$
352.6

Accounts receivable, net
4.9

Ìý
93.0

Ìý
0.3

Ìý
(4.2
)
Ìý
94.0

Inventories
—

Ìý
317.4

Ìý
—

Ìý
—

Ìý
317.4

Derivative assets
—

Ìý
45.8

Ìý
—

Ìý
—

Ìý
45.8

Income tax receivable, current
58.6

Ìý
—

Ìý
—

Ìý
—

Ìý
58.6

Other current assets
9.1

Ìý
13.0

Ìý
7.4

Ìý
—

Ìý
29.5

Total current assets
422.3

Ìý
469.3

Ìý
10.5

Ìý
(4.2
)
Ìý
897.9

Non-current assets:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Property, plant and equipment, net
11.2

Ìý
1,867.1

Ìý
50.7

Ìý
—

Ìý
1,929.0

Income tax receivable, non-current
58.6

Ìý
4.1

Ìý
—

Ìý
—

Ìý
62.7

Deferred income taxes
458.3

Ìý
—

Ìý
1.2

Ìý
—

Ìý
459.5

Investment in subsidiaries
1,821.1

Ìý
47.2

Ìý
—

Ìý
(1,868.3
)
Ìý
—

Long-term intercompany notes
—

Ìý
—

Ìý
121.3

Ìý
(121.3
)
Ìý
—

Other non-current assets
15.1

Ìý
121.4

Ìý
18.2

Ìý
—

Ìý
154.7

TOTAL ASSETS
$
2,786.6

Ìý
$
2,509.1

Ìý
$
201.9

Ìý
$
(1,993.8
)
Ìý
$
3,503.8

LIABILITIES AND EQUITY
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Current liabilities:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Accounts payable
$
5.7

Ìý
$
187.5

Ìý
$
4.2

Ìý
$
(4.2
)
Ìý
$
193.2

Accrued liabilities
80.7

Ìý
45.5

Ìý
0.1

Ìý
—

Ìý
126.3

State and local taxes payable
—

Ìý
37.9

Ìý
—

Ìý
—

Ìý
37.9

Other current liabilities
6.0

Ìý
38.6

Ìý
7.4

Ìý
—

Ìý
52.0

Total current liabilities
92.4

Ìý
309.5

Ìý
11.7

Ìý
(4.2
)
Ìý
409.4

Non-current liabilities:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Long-term debt
2,113.8

Ìý
—

Ìý
—

Ìý
—

Ìý
2,113.8

Pension and OPEB liabilities
80.5

Ìý
496.9

Ìý
(265.9
)
Ìý
—

Ìý
311.5

Environmental and mine closure obligations
—

Ìý
145.6

Ìý
19.3

Ìý
—

Ìý
164.9

Long-term intercompany notes
121.3

Ìý
—

Ìý
—

Ìý
(121.3
)
Ìý
—

Other non-current liabilities
20.7

Ìý
120.3

Ìý
5.3

Ìý
—

Ìý
146.3

TOTAL LIABILITIES
2,428.7

Ìý
1,072.3

Ìý
(229.6
)
Ìý
(125.5
)
Ìý
3,145.9

Commitments and contingencies
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
TOTAL EQUITY
357.9

Ìý
1,436.8

Ìý
431.5

Ìý
(1,868.3
)
Ìý
357.9

TOTAL LIABILITIES AND EQUITY
$
2,786.6

Ìý
$
2,509.1

Ìý
$
201.9

Ìý
$
(1,993.8
)
Ìý
$
3,503.8


Condensed Consolidating Statement of Financial Position
As of December 31, 2018
(In Millions)
Ìý
ÐÇ¿Õ´«Ã½ Inc.
Ìý
Guarantor Subsidiaries
Ìý
Non-Guarantor Subsidiaries
Ìý
Eliminations
Ìý
Consolidated
ASSETS
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Current Assets:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Cash and cash equivalents
$
819.8

Ìý
$
0.7

Ìý
$
2.7

Ìý
$
—

Ìý
$
823.2

Accounts receivable, net
9.2

Ìý
221.3

Ìý
0.3

Ìý
(4.1
)
Ìý
226.7

Inventories
—

Ìý
181.1

Ìý
—

Ìý
—

Ìý
181.1

Derivative assets
0.1

Ìý
91.4

Ìý
—

Ìý
—

Ìý
91.5

Income tax receivable, current
117.3

Ìý
—

Ìý
—

Ìý
—

Ìý
117.3

Other current assets
10.0

Ìý
16.9

Ìý
12.9

Ìý
—

Ìý
39.8

Total current assets
956.4

Ìý
511.4

Ìý
15.9

Ìý
(4.1
)
Ìý
1,479.6

Non-current assets:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Property, plant and equipment, net
13.3

Ìý
1,221.9

Ìý
50.8

Ìý
—

Ìý
1,286.0

Income tax receivable, non-current
117.2

Ìý
4.1

Ìý
—

Ìý
—

Ìý
121.3

Deferred income taxes
463.6

Ìý
—

Ìý
1.2

Ìý
—

Ìý
464.8

Investment in subsidiaries
1,262.3

Ìý
50.8

Ìý
—

Ìý
(1,313.1
)
Ìý
—

Long-term intercompany notes
—

Ìý
—

Ìý
121.3

Ìý
(121.3
)
Ìý
—

Other non-current assets
8.0

Ìý
153.8

Ìý
16.1

Ìý
—

Ìý
177.9

TOTAL ASSETS
$
2,820.8

Ìý
$
1,942.0

Ìý
$
205.3

Ìý
$
(1,438.5
)
Ìý
$
3,529.6

LIABILITIES AND EQUITY
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Current liabilities:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Accounts payable
$
5.3

Ìý
$
181.4

Ìý
$
4.2

Ìý
$
(4.1
)
Ìý
$
186.8

Accrued liabilities
92.7

Ìý
66.1

Ìý
0.1

Ìý
—

Ìý
158.9

State and local taxes payable
—

Ìý
35.4

Ìý
0.1

Ìý
—

Ìý
35.5

Other current liabilities
4.8

Ìý
74.1

Ìý
8.1

Ìý
—

Ìý
87.0

Total current liabilities
102.8

Ìý
357.0

Ìý
12.5

Ìý
(4.1
)
Ìý
468.2

Non-current liabilities:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Long-term debt
2,092.9

Ìý
—

Ìý
—

Ìý
—

Ìý
2,092.9

Pension and OPEB liabilities
64.3

Ìý
414.4

Ìý
(230.0
)
Ìý
—

Ìý
248.7

Environmental and mine closure obligations
—

Ìý
152.1

Ìý
19.9

Ìý
—

Ìý
172.0

Long-term intercompany notes
121.3

Ìý
—

Ìý
—

Ìý
(121.3
)
Ìý
—

Other non-current liabilities
15.3

Ìý
99.5

Ìý
8.8

Ìý
—

Ìý
123.6

TOTAL LIABILITIES
2,396.6

Ìý
1,023.0

Ìý
(188.8
)
Ìý
(125.4
)
Ìý
3,105.4

Commitments and contingencies
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
TOTAL EQUITY
424.2

Ìý
919.0

Ìý
394.1

Ìý
(1,313.1
)
Ìý
424.2

TOTAL LIABILITIES AND EQUITY
$
2,820.8

Ìý
$
1,942.0

Ìý
$
205.3

Ìý
$
(1,438.5
)
Ìý
$
3,529.6


Ìý
Schedule of Supplemental Statements of Condensed Consolidating Operations and Comprehensive Income (Loss)
Condensed Consolidating Statement of Operations and Comprehensive Income
For the Year Ended December 31, 2019
(In Millions)
Ìý
ÐÇ¿Õ´«Ã½ Inc.
Ìý
Guarantor Subsidiaries
Ìý
Non-Guarantor Subsidiaries
Ìý
Eliminations
Ìý
Consolidated
Revenues from product sales and services
$
—

Ìý
$
1,989.9

Ìý
$
—

Ìý
$
—

Ìý
$
1,989.9

Cost of goods sold and operating expenses
—

Ìý
(1,414.2
)
Ìý
—

Ìý
—

Ìý
(1,414.2
)
Sales margin
—

Ìý
575.7

Ìý
—

Ìý
—

Ìý
575.7

Other operating income (expense):
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Selling, general and administrative expenses
(100.7
)
Ìý
(18.3
)
Ìý
(0.4
)
Ìý
—

Ìý
(119.4
)
Miscellaneous - net
0.1

Ìý
(26.0
)
Ìý
(1.1
)
Ìý
—

Ìý
(27.0
)
Total other operating expense
(100.6
)
Ìý
(44.3
)
Ìý
(1.5
)
Ìý
—

Ìý
(146.4
)
Operating income (loss)
(100.6
)
Ìý
531.4

Ìý
(1.5
)
Ìý
—

Ìý
429.3

Other income (expense):
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Interest income (expense), net
(99.4
)
Ìý
(2.3
)
Ìý
0.5

Ìý
—

Ìý
(101.2
)
Loss on extinguishment of debt
(18.2
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(18.2
)
Other non-operating income (expense)
(4.0
)
Ìý
(12.9
)
Ìý
19.1

Ìý
—

Ìý
2.2

Total other income (expense)
(121.6
)
Ìý
(15.2
)
Ìý
19.6

Ìý
—

Ìý
(117.2
)
Income (loss) from continuing operations before income taxes
(222.2
)
Ìý
516.2

Ìý
18.1

Ìý
—

Ìý
312.1

Income tax expense
(17.0
)
Ìý
(0.4
)
Ìý
(0.2
)
Ìý
—

Ìý
(17.6
)
Equity in income of subsidiaries
531.6

Ìý
18.3

Ìý
—

Ìý
(549.9
)
Ìý
—

Income from continuing operations
292.4

Ìý
534.1

Ìý
17.9

Ìý
(549.9
)
Ìý
294.5

Income (loss) from discontinued operations, net of tax
0.4

Ìý
(0.3
)
Ìý
(1.8
)
Ìý
—

Ìý
(1.7
)
Net income attributable to Cliffs shareholders
$
292.8

Ìý
$
533.8

Ìý
$
16.1

Ìý
$
(549.9
)
Ìý
$
292.8

Other comprehensive income (loss)
(34.9
)
Ìý
(35.8
)
Ìý
16.9

Ìý
18.9

Ìý
(34.9
)
Total comprehensive income attributable to Cliffs shareholders
$
257.9

Ìý
$
498.0

Ìý
$
33.0

Ìý
$
(531.0
)
Ìý
$
257.9

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
For the Year Ended December 31, 2018
(In Millions)
Ìý
ÐÇ¿Õ´«Ã½ Inc.
Ìý
Guarantor Subsidiaries
Ìý
Non-Guarantor Subsidiaries
Ìý
Eliminations
Ìý
Consolidated
Revenues from product sales and services
$
—

Ìý
$
2,332.4

Ìý
$
—

Ìý
$
—

Ìý
$
2,332.4

Cost of goods sold and operating expenses
—

Ìý
(1,522.8
)
Ìý
—

Ìý
—

Ìý
(1,522.8
)
Sales margin
—

Ìý
809.6

Ìý
—

Ìý
—

Ìý
809.6

Other operating income (expense):
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Selling, general and administrative expenses
(86.1
)
Ìý
(27.1
)
Ìý
(0.3
)
Ìý
—

Ìý
(113.5
)
Miscellaneous - net
(0.3
)
Ìý
(26.9
)
Ìý
4.3

Ìý
—

Ìý
(22.9
)
Total other operating income (expense)
(86.4
)
Ìý
(54.0
)
Ìý
4.0

Ìý
—

Ìý
(136.4
)
Operating income (loss)
(86.4
)
Ìý
755.6

Ìý
4.0

Ìý
—

Ìý
673.2

Other income (expense):
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Interest income (expense), net
(117.6
)
Ìý
(2.1
)
Ìý
0.8

Ìý
—

Ìý
(118.9
)
Loss on extinguishment of debt
(6.8
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(6.8
)
Other non-operating income (expense)
(3.5
)
Ìý
0.9

Ìý
19.8

Ìý
—

Ìý
17.2

Total other income (expense)
(127.9
)
Ìý
(1.2
)
Ìý
20.6

Ìý
—

Ìý
(108.5
)
Income (loss) from continuing operations before income taxes
(214.3
)
Ìý
754.4

Ìý
24.6

Ìý
—

Ìý
564.7

Income tax benefit
474.7

Ìý
—

Ìý
0.5

Ìý
—

Ìý
475.2

Equity in income of subsidiaries
858.2

Ìý
25.5

Ìý
—

Ìý
(883.7
)
Ìý
—

Income from continuing operations
1,118.6

Ìý
779.9

Ìý
25.1

Ìý
(883.7
)
Ìý
1,039.9

Income from discontinued operations, net of tax
9.5

Ìý
12.3

Ìý
66.4

Ìý
—

Ìý
88.2

Net income attributable to Cliffs shareholders
$
1,128.1

Ìý
$
792.2

Ìý
$
91.5

Ìý
$
(883.7
)
Ìý
$
1,128.1

Other comprehensive loss
(244.9
)
Ìý
(24.1
)
Ìý
(256.7
)
Ìý
280.8

Ìý
(244.9
)
Total comprehensive income (loss) attributable to Cliffs shareholders
$
883.2

Ìý
$
768.1

Ìý
$
(165.2
)
Ìý
$
(602.9
)
Ìý
$
883.2

Condensed Consolidating Statement of Operations and Comprehensive Income
For the Year Ended December 31, 2017
(In Millions)
Ìý
ÐÇ¿Õ´«Ã½ Inc.
Ìý
Guarantor Subsidiaries
Ìý
Non-Guarantor Subsidiaries
Ìý
Eliminations
Ìý
Consolidated
Revenues from product sales and services
$
—

Ìý
$
1,866.0

Ìý
$
—

Ìý
$
—

Ìý
$
1,866.0

Cost of goods sold and operating expenses
—

Ìý
(1,398.4
)
Ìý
—

Ìý
—

Ìý
(1,398.4
)
Sales margin
—

Ìý
467.6

Ìý
—

Ìý
—

Ìý
467.6

Other operating income (expense):
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Selling, general and administrative expenses
(77.2
)
Ìý
(19.9
)
Ìý
(5.8
)
Ìý
—

Ìý
(102.9
)
Miscellaneous - net
(2.3
)
Ìý
11.0

Ìý
16.8

Ìý
—

Ìý
25.5

Total other operating income (expense)
(79.5
)
Ìý
(8.9
)
Ìý
11.0

Ìý
—

Ìý
(77.4
)
Operating income (loss)
(79.5
)
Ìý
458.7

Ìý
11.0

Ìý
—

Ìý
390.2

Other income (expense):
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Interest income (expense), net
(126.8
)
Ìý
(1.0
)
Ìý
1.0

Ìý
—

Ìý
(126.8
)
Loss on extinguishment of debt
(165.4
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(165.4
)
Other non-operating income (expense)
(4.0
)
Ìý
(3.0
)
Ìý
17.2

Ìý
—

Ìý
10.2

Total other income (expense)
(296.2
)
Ìý
(4.0
)
Ìý
18.2

Ìý
—

Ìý
(282.0
)
Income (loss) from continuing operations before income taxes
(375.7
)
Ìý
454.7

Ìý
29.2

Ìý
—

Ìý
108.2

Income tax benefit (expense)
251.4

Ìý
1.3

Ìý
(0.3
)
Ìý
—

Ìý
252.4

Equity in income of subsidiaries
512.6

Ìý
11.8

Ìý
—

Ìý
(524.4
)
Ìý
—

Income from continuing operations
388.3

Ìý
467.8

Ìý
28.9

Ìý
(524.4
)
Ìý
360.6

Income (loss) from discontinued operations, net of tax
(21.3
)
Ìý
1.7

Ìý
22.1

Ìý
—

Ìý
2.5

Net income
367.0

Ìý
469.5

Ìý
51.0

Ìý
(524.4
)
Ìý
363.1

Loss attributable to noncontrolling interest
—

Ìý
3.9

Ìý
—

Ìý
—

Ìý
3.9

Net income attributable to Cliffs shareholders
$
367.0

Ìý
$
473.4

Ìý
$
51.0

Ìý
$
(524.4
)
Ìý
$
367.0

Other comprehensive income (loss)
(4.0
)
Ìý
12.9

Ìý
(4.8
)
Ìý
(8.1
)
Ìý
(4.0
)
Total comprehensive income attributable to Cliffs shareholders
$
363.0

Ìý
$
486.3

Ìý
$
46.2

Ìý
$
(532.5
)
Ìý
$
363.0


Ìý
Schedule of Supplemental Statements of Condensed Consolidating Cash Flows Ìý
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2019
(In Millions)
Ìý
ÐÇ¿Õ´«Ã½ Inc.
Ìý
Guarantor Subsidiaries
Ìý
Non-Guarantor Subsidiaries
Ìý
Eliminations
Ìý
Consolidated
Net cash provided (used) by operating activities
$
(50.0
)
Ìý
$
616.3

Ìý
$
(3.8
)
Ìý
$
—

Ìý
$
562.5

INVESTING ACTIVITIES
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Purchase of property, plant and equipment
(1.2
)
Ìý
(637.8
)
Ìý
—

Ìý
—

Ìý
(639.0
)
Deposits for property, plant and equipment
—

Ìý
(14.0
)
Ìý
(3.0
)
Ìý
—

Ìý
(17.0
)
Intercompany investing
(63.9
)
Ìý
(3.7
)
Ìý
(0.1
)
Ìý
67.7

Ìý
—

Other investing activities
—

Ìý
10.8

Ìý
0.8

Ìý
—

Ìý
11.6

Net cash used by investing activities
(65.1
)
Ìý
(644.7
)
Ìý
(2.3
)
Ìý
67.7

Ìý
(644.4
)
FINANCING ACTIVITIES
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Repurchase of common shares
(252.9
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(252.9
)
Dividends paid
(72.1
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(72.1
)
Proceeds from issuance of debt
720.9

Ìý
—

Ìý
—

Ìý
—

Ìý
720.9

Debt issuance costs
(6.8
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(6.8
)
Repurchase of debt
(729.3
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(729.3
)
Distributions of partnership equity
—

Ìý
(44.2
)
Ìý
—

Ìý
—

Ìý
(44.2
)
Intercompany financing
0.1

Ìý
63.4

Ìý
4.2

Ìý
(67.7
)
Ìý
—

Other financing activities
(14.9
)
Ìý
8.6

Ìý
(3.4
)
Ìý
—

Ìý
(9.7
)
Net cash provided (used) by financing activities
(355.0
)
Ìý
27.8

Ìý
0.8

Ìý
(67.7
)
Ìý
(394.1
)
Effect of exchange rate changes on cash
—

Ìý
—

Ìý
—

Ìý
—

Ìý
—

Decrease in cash and cash equivalents, including cash classified within other current assets related to discontinued operations
(470.1
)
Ìý
(0.6
)
Ìý
(5.3
)
Ìý
—

Ìý
(476.0
)
Less: decrease in cash and cash equivalents from discontinued operations, classified within other current assets
—

Ìý
—

Ìý
(5.4
)
Ìý
—

Ìý
(5.4
)
Net increase (decrease) in cash and cash equivalents
(470.1
)
Ìý
(0.6
)
Ìý
0.1

Ìý
—

Ìý
(470.6
)
Cash and cash equivalents at beginning of year
819.8

Ìý
0.7

Ìý
2.7

Ìý
—

Ìý
823.2

Cash and cash equivalents at end of year
$
349.7

Ìý
$
0.1

Ìý
$
2.8

Ìý
$
—

Ìý
$
352.6

Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2018
(In Millions)
Ìý
ÐÇ¿Õ´«Ã½ Inc.
Ìý
Guarantor Subsidiaries
Ìý
Non-Guarantor Subsidiaries
Ìý
Eliminations
Ìý
Consolidated
Net cash provided (used) by operating activities
$
(120.7
)
Ìý
$
741.0

Ìý
$
(141.8
)
Ìý
$
—

Ìý
$
478.5

INVESTING ACTIVITIES
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Purchase of property, plant and equipment
(1.2
)
Ìý
(207.3
)
Ìý
(0.1
)
Ìý
—

Ìý
(208.6
)
Deposits for property, plant and equipment
—

Ìý
(82.3
)
Ìý
(5.2
)
Ìý
—

Ìý
(87.5
)
Intercompany investing
399.1

Ìý
(7.1
)
Ìý
120.7

Ìý
(512.7
)
Ìý
—

Other investing activities
—

Ìý
3.1

Ìý
19.9

Ìý
—

Ìý
23.0

Net cash provided (used) by investing activities
397.9

Ìý
(293.6
)
Ìý
135.3

Ìý
(512.7
)
Ìý
(273.1
)
FINANCING ACTIVITIES
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Repurchase of common shares
(47.5
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(47.5
)
Debt issuance costs
(1.5
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(1.5
)
Repurchase of debt
(234.5
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(234.5
)
Distributions of partnership equity
—

Ìý
(44.2
)
Ìý
—

Ìý
—

Ìý
(44.2
)
Intercompany financing
(120.7
)
Ìý
(402.4
)
Ìý
10.4

Ìý
512.7

Ìý
—

Other financing activities
(2.1
)
Ìý
(2.2
)
Ìý
(43.2
)
Ìý
—

Ìý
(47.5
)
Net cash used by financing activities
(406.3
)
Ìý
(448.8
)
Ìý
(32.8
)
Ìý
512.7

Ìý
(375.2
)
Effect of exchange rate changes on cash
—

Ìý
—

Ìý
(2.3
)
Ìý
—

Ìý
(2.3
)
Decrease in cash and cash equivalents, including cash classified within other current assets related to discontinued operations
(129.1
)
Ìý
(1.4
)
Ìý
(41.6
)
Ìý
—

Ìý
(172.1
)
Less: decrease in cash and cash equivalents from discontinued operations, classified within other current assets
—

Ìý
—

Ìý
(17.0
)
Ìý
—

Ìý
(17.0
)
Net decrease in cash and cash equivalents
(129.1
)
Ìý
(1.4
)
Ìý
(24.6
)
Ìý
—

Ìý
(155.1
)
Cash and cash equivalents at beginning of year
948.9

Ìý
2.1

Ìý
27.3

Ìý
—

Ìý
978.3

Cash and cash equivalents at end of year
$
819.8

Ìý
$
0.7

Ìý
$
2.7

Ìý
$
—

Ìý
$
823.2

Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2017
(In Millions)
Ìý
ÐÇ¿Õ´«Ã½ Inc.
Ìý
Guarantor Subsidiaries
Ìý
Non-Guarantor Subsidiaries
Ìý
Eliminations
Ìý
Consolidated
Net cash provided (used) by operating activities
$
(166.8
)
Ìý
$
430.0

Ìý
$
74.9

Ìý
$
—

Ìý
$
338.1

INVESTING ACTIVITIES
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Purchase of property, plant and equipment
(3.4
)
Ìý
(79.8
)
Ìý
(51.7
)
Ìý
—

Ìý
(134.9
)
Deposits for property, plant and equipment
—

Ìý
(11.7
)
Ìý
(5.1
)
Ìý
—

Ìý
(16.8
)
Intercompany investments
225.7

Ìý
(7.3
)
Ìý
(45.1
)
Ìý
(173.3
)
Ìý
—

Other investing activities
(7.7
)
Ìý
3.4

Ìý
—

Ìý
—

Ìý
(4.3
)
Net cash provided (used) by investing activities
214.6

Ìý
(95.4
)
Ìý
(101.9
)
Ìý
(173.3
)
Ìý
(156.0
)
FINANCING ACTIVITIES
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Net proceeds from issuance of common shares
661.3

Ìý
—

Ìý
—

Ìý
—

Ìý
661.3

Proceeds from issuance of debt
1,771.5

Ìý
—

Ìý
—

Ìý
—

Ìý
1,771.5

Debt issuance costs
(28.6
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(28.6
)
Repurchase of debt
(1,720.7
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(1,720.7
)
Acquisition of noncontrolling interest
(105.0
)
Ìý
—

Ìý
—

Ìý
—

Ìý
(105.0
)
Distributions of partnership equity
—

Ìý
(52.9
)
Ìý
—

Ìý
—

Ìý
(52.9
)
Intercompany financing
45.0

Ìý
(277.6
)
Ìý
59.3

Ìý
173.3

Ìý
—

Other financing activities
(5.8
)
Ìý
(4.5
)
Ìý
(16.4
)
Ìý
—

Ìý
(26.7
)
Net cash provided (used) by financing activities
617.7

Ìý
(335.0
)
Ìý
42.9

Ìý
173.3

Ìý
498.9

Effect of exchange rate on cash
—

Ìý
—

Ìý
3.3

Ìý
—

Ìý
3.3

Increase (decrease) in cash and cash equivalents, including cash classified within other current assets related to discontinued operations
665.5

Ìý
(0.4
)
Ìý
19.2

Ìý
—

Ìý
684.3

Less: increase in cash and cash equivalents from discontinued operations, classified within other current assets
—

Ìý
—

Ìý
18.8

Ìý
—

Ìý
18.8

Net increase (decrease) in cash and cash equivalents
665.5

Ìý
(0.4
)
Ìý
0.4

Ìý
—

Ìý
665.5

Cash and cash equivalents at beginning of year
283.4

Ìý
2.5

Ìý
26.9

Ìý
—

Ìý
312.8

Cash and cash equivalents at end of year
$
948.9

Ìý
$
2.1

Ìý
$
27.3

Ìý
$
—

Ìý
$
978.3