Document and Entity Information
Document and Entity Information Document - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 25, 2019 | Jun. 29, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | DIEBOLD NIXDORF, Inc | ||
Entity Central Index Key | 28,823 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Common Stock, Shares Outstanding | 76,563,308 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 906,522,734 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets | ||
Cash, cash equivalents, and restricted cash | $ 458.4 | $ 543.2 |
Short-term investments | 33.5 | 81.4 |
Trade receivables, less allowances for doubtful accounts of $58.2 and $71.7, respectively | 737.2 | 827.9 |
Inventories | 610.1 | 714.5 |
Prepaid expenses | 57.4 | 65.7 |
Other current assets | 306.8 | 247.5 |
Total current assets | 2,203.4 | 2,480.2 |
Securities and other investments | 22.4 | 96.8 |
Property, plant and equipment, net | 304.1 | 364.5 |
Deferred income taxes | 243.9 | 293.8 |
Goodwill | 827.1 | 1,117.1 |
Intangible assets, net | 624.6 | 773.8 |
Other assets | 86.4 | 95.8 |
Total assets | 4,311.9 | 5,222 |
Current liabilities | ||
Notes payable | 49.5 | 66.7 |
Accounts payable | 509.5 | 562.2 |
Deferred revenue | 378.2 | 436.5 |
Payroll and other benefits liabilities | 184.3 | 198.9 |
Other current liabilities | 446.9 | 531.4 |
Total current liabilities | 1,568.4 | 1,795.7 |
Long-term debt | 2,190 | 1,787.1 |
Pensions, post-retirement and other benefits | 273.8 | 266.4 |
Deferred income taxes | 221.6 | 287.1 |
Other liabilities | 87.3 | 111.3 |
Commitments and contingencies | ||
Redeemable noncontrolling interests | 130.4 | 492.1 |
Diebold Nixdorf, Incorporated shareholders' equity | ||
Preferred shares, no par value, 1,000,000 authorized shares, none issued | 0 | 0 |
Common shares, $1.25 par value, 125,000,000 authorized shares, (91,345,451 and 90,524,360 issued shares, 76,174,025 and 75,558,544 outstanding shares, respectively) | 114.2 | 113.2 |
Additional capital | 741.8 | 721.5 |
Retained earnings (accumulated deficit) | (168.3) | 374.5 |
Treasury shares, at cost (15,171,426 and 14,965,816 shares, respectively) | (570.4) | (567.4) |
Accumulated other comprehensive loss | (303.7) | (196.3) |
Total Diebold Nixdorf, Incorporated shareholders' equity | (186.4) | 445.5 |
Noncontrolling interests | 26.8 | 36.8 |
Total equity | (159.6) | 482.3 |
Total liabilities, redeemable noncontrolling interests and equity | 4,311.9 | 5,222 |
Customer Relationships [Member] | ||
Current assets | ||
Intangible assets, net | 533.1 | 633.3 |
Other intangible assets, net | ||
Current assets | ||
Intangible assets, net | $ 91.5 | $ 140.5 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 58.2 | $ 71.7 |
Stockholders' Equity Attributable to Parent [Abstract] | ||
Preferred stock, no par value | $ 0 | $ 0 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value per share | $ 1.25 | $ 1.25 |
Common stock, shares authorized | 125,000,000 | 125,000,000 |
Common stock, shares issued | 91,345,451 | 90,524,360 |
Common stock, shares outstanding | 76,174,025 | 75,558,544 |
Treasury stock, shares | 15,171,426 | 14,965,816 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net sales | |||
Net sales | $ 4,578.6 | $ 4,609.3 | $ 3,316.3 |
Cost of sales | |||
Cost of sales | 3,687.7 | 3,609.5 | 2,604.6 |
Gross profit | 890.9 | 999.8 | 711.7 |
Selling and administrative expense | 885.6 | 933.7 | 761.2 |
Research, development and engineering expense | 157.4 | 155.5 | 110.2 |
Impairment of assets | 217.5 | 3.1 | 9.8 |
(Gain) loss on sale of assets, net | 6.7 | (1) | (0.3) |
Total operating expense | 1,253.8 | 1,093.3 | 881.5 |
Operating loss | (362.9) | (93.5) | (169.8) |
Other income (expense) | |||
Interest income | 8.7 | 20.3 | 21.5 |
Interest expense | (154.9) | (117.3) | (101.4) |
Foreign exchange loss, net | (2.5) | (3.9) | (2.1) |
Miscellaneous, net | (4) | 2.5 | 3.1 |
Loss from continuing operations before taxes | (515.6) | (191.9) | (248.7) |
Income tax expense (benefit) | 37.2 | 28.3 | (69) |
Equity in (loss) earnings of unconsolidated subsidiaries, net | (13.2) | 6.3 | 0.4 |
Loss from continuing operations, net of tax | (566) | (213.9) | (179.3) |
Income from discontinued operations, net of tax | 0 | 0 | 143.7 |
Net loss | (566) | (213.9) | (35.6) |
Net income attributable to noncontrolling interests, net of tax | 2.7 | 27.6 | 6 |
Net loss attributable to Diebold Nixdorf, Incorporated | $ (568.7) | $ (241.5) | $ (41.6) |
Basic weighted-average shares outstanding | 76 | 75.5 | 69.1 |
Diluted weighted-average shares outstanding | 76 | 75.5 | 69.1 |
Basic and diluted loss per share | |||
Loss before discontinued operations, net of tax | $ (7.48) | $ (3.20) | $ (2.68) |
Income from discontinued operations, net of tax | 0 | 0 | 2.08 |
Net loss attributable to Diebold Nixdorf, Incorporated | (7.48) | (3.20) | (0.60) |
Diluted earnings (loss) per share | |||
Income (loss) before discontinued operations, net of tax | (7.48) | (3.20) | (2.68) |
Income from discontinued operations, net of tax | 0 | 0 | 2.08 |
Net income (loss) attributable to Diebold Nixdorf, Incorporated | $ (7.48) | $ (3.20) | $ (0.60) |
Amounts attributable to Diebold Nixdorf, Incorporated | |||
Loss before discontinued operations, net of tax | $ (568.7) | $ (241.5) | $ (185.3) |
Income from discontinued operations, net of tax | 0 | 0 | 143.7 |
Net loss attributable to Diebold Nixdorf, Incorporated | $ (568.7) | $ (241.5) | $ (41.6) |
Cash dividends declared and paid per share | $ 0.10 | $ 0.40 | $ 0.96 |
Service [Member] | |||
Net sales | |||
Net sales | $ 2,789.5 | $ 2,785.3 | $ 1,908 |
Cost of sales | |||
Cost of sales | 2,164.3 | 2,110.1 | 1,381.1 |
Product [Member] | |||
Net sales | |||
Net sales | 1,789.1 | 1,824 | 1,408.3 |
Cost of sales | |||
Cost of sales | $ 1,523.4 | $ 1,499.4 | $ 1,223.5 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net loss | $ (566) | $ (213.9) | $ (35.6) |
Interest rate hedges: | |||
Net income (loss) recognized in other comprehensive income (net of tax of $0.3, $(1.7) and $(3.0), respectively) | (1.4) | 3.9 | 4.9 |
Less: reclassification adjustments for amounts recognized in net income (loss) (net of tax of $(0.6), (0.1) and $0.0, respectively) | (2.6) | 0.4 | 0.2 |
Total interest rate hedges, net of tax | 1.2 | 3.5 | 4.7 |
Pension and other post-retirement benefits: | |||
Net actuarial losses recognized during the year (net of tax of $(1.1), $(3.3) and $(1.8), respectively) | 4.8 | 2.2 | 4 |
Prior service cost occurring during the year (net of tax of $0.0, (0.5) and $0.0, respectively) | 0 | (0.4) | 0 |
Net actuarial (gain) loss occurring during the year (net of tax of $(4.0), $(6.6) and $(8.3), respectively) | (10.9) | 4.5 | 18.5 |
Net actuarial losses recognized due to settlement (net of tax of $(1.3), $0.4 and $0.0, respectively) | (3.5) | 0.2 | 0 |
Net actuarial gain recognized due to curtailment (net of tax of $0.0, $0.0, and $1.5, respectively) | 0 | 0 | 3.3 |
Acquired benefit plans and other (net of tax of $0.0, $1.5 and $0.0, respectively) | (7.7) | 1.5 | 0 |
Currency impact (net of tax of $(0.3), $(1.9) and $0.4, respectively) | (0.9) | 1.3 | (0.7) |
Total pension and other postretirement benefits, net of tax | (18.2) | 6.7 | 18.5 |
Other | 0 | (0.2) | (0.1) |
Other comprehensive (loss) income, net of tax | (111.3) | 150.9 | (20) |
Comprehensive loss | (677.3) | (63) | (55.6) |
Less: comprehensive income (loss) attributable to noncontrolling interests | (1.2) | 33.5 | 9.2 |
Comprehensive loss attributable to Diebold Nixdorf, Incorporated | (676.1) | (96.5) | (64.8) |
Translation adjustment | |||
Other comprehensive income (loss), net of tax: | |||
Translation adjustment (net of tax of $(2.7), $8.4 and $(0.6), respectively) | (69.5) | 140.3 | (32.4) |
Foreign currency hedges | |||
Other comprehensive income (loss), net of tax: | |||
Foreign currency hedges (net of tax of $(1.2), $0.2 and $6.2, respectively) | 4.2 | 0.6 | (10.7) |
Accounting Standards Update 2018-02 [Member] | |||
Pension and other post-retirement benefits: | |||
Other comprehensive (loss) income, net of tax | $ (29) | $ 0 | $ 0 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net income recognized in other comprehensive income, interest rate hedges, tax | $ 0.3 | $ (1.7) | $ (3) |
Derivatives, reclassification adjustment for amounts recognized in net income, tax | (0.6) | (0.1) | 0 |
Net actuarial loss recognized during the year, tax | (1.1) | (3.3) | (1.8) |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Prior Service Costs Arising During Period, Tax | 0 | (0.5) | 0 |
Net actuarial (gains) losses occurring during the year, tax | (4) | (6.6) | (8.3) |
Net prior service benefit amortization due to curtailment, tax | 0 | 0 | 1.5 |
Net actuarial losses recognized due to settlement, tax | (1.3) | 0.4 | 0 |
Acquired benefit plans and other | 7.7 | (1.5) | 0 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Newly Accounted Plans | 0 | (1.5) | 0 |
Currency impact, tax | (0.3) | (1.9) | 0 |
Translation adjustment | |||
Translation adjustment and foreign currency hedges, tax | (2.7) | 8.4 | (0.6) |
Foreign currency hedges | |||
Translation adjustment and foreign currency hedges, tax | $ (1.2) | $ 0.2 | $ 6.2 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions | Total | Common Shares | Additional Capital | Retained Earnings [Member] | Treasury Shares | AOCI Attributable to Parent [Member] | Total Diebold Nixdorf, Incorporated Shareholders' Equity | Non-controlling Interests |
Balance (shares) at Dec. 31, 2015 | 79.7 | |||||||
Balance at Dec. 31, 2015 | $ 428 | $ 99.6 | $ 430.8 | $ 752.8 | $ (560.2) | $ (318.1) | $ 404.9 | $ 23.1 |
Net loss | (35.6) | (41.6) | (41.6) | 6 | ||||
Other comprehensive income (loss) | (23.2) | (23.2) | ||||||
Other comprehensive income (loss), noncontrolling | 3.2 | |||||||
Other comprehensive (loss) income, net of tax | (20) | |||||||
Other comprehensive income (loss), net of tax and noncontrolling interest adjustment | (20) | |||||||
Stock options exercised (shares) | 0 | |||||||
Stock options exercised | 0.3 | $ 0 | 0.3 | 0.3 | ||||
Restricted stock units issued, shares | 0.3 | |||||||
Share-based compensation issued | 0 | $ 0.4 | (0.4) | 0 | ||||
Income tax detriment from share-based compensation | (0.2) | (0.2) | (0.2) | |||||
Share-based compensation expense | 22.2 | 22.2 | 22.2 | |||||
Dividends declared and paid | (64.6) | (64.6) | (64.6) | |||||
Treasury shares | (2.2) | (2.2) | (2.2) | |||||
Sale of equity interest | 7.1 | 0 | 7.1 | |||||
Reclassification of guaranteed dividend to accrued liabilities | (5.7) | 0 | (5.7) | |||||
Distributions to noncontrolling interest holders, net | (8.2) | 0 | (8.2) | |||||
Acquired fair value of noncontrolling interest | 407.9 | 0 | 407.9 | |||||
Acquisition of Diebold Nixdorf AG, shares issued | 9.9 | |||||||
Acquisition of Diebold Nixdorf AG | 279.7 | $ 12.4 | 267.3 | 279.7 | 0 | |||
Balance (shares) at Dec. 31, 2016 | 89.9 | |||||||
Balance at Dec. 31, 2016 | $ 1,008.7 | $ 112.4 | 720 | 646.6 | (562.4) | (341.3) | 575.3 | 433.4 |
Common Shares, $1.25 Par Value | $ 1.25 | |||||||
Net loss | $ (54.5) | |||||||
Balance (shares) at Dec. 31, 2016 | 89.9 | |||||||
Balance at Dec. 31, 2016 | 1,008.7 | $ 112.4 | 720 | 646.6 | (562.4) | (341.3) | 575.3 | 433.4 |
Net loss | (213.9) | (241.5) | (241.5) | 27.6 | ||||
Other comprehensive income (loss) | 145 | 145 | 145 | |||||
Other comprehensive income (loss), noncontrolling | 5.9 | |||||||
Other comprehensive (loss) income, net of tax | 150.9 | |||||||
Other comprehensive income (loss), net of tax and noncontrolling interest adjustment | 150.9 | |||||||
Stock options exercised (shares) | 0 | |||||||
Stock options exercised | 0.3 | $ 0 | 0.3 | 0.3 | ||||
Restricted stock units issued, shares | 0.6 | |||||||
Share-based compensation issued | 0.1 | $ 0.8 | (0.7) | 0.1 | ||||
Share-based compensation expense | 33.9 | 33.9 | 33.9 | |||||
Dividends declared and paid | (30.6) | (30.6) | (30.6) | |||||
Treasury shares | (5) | (5) | (5) | |||||
Reclassification of guaranteed dividend to accrued liabilities | (24.6) | 0 | (24.6) | |||||
Reclassification From Noncontrolling Interests To Redeemable Noncontrolling Interests | (418.7) | (32) | (32) | (386.7) | ||||
Distributions to noncontrolling interest holders, net | (18.8) | 0 | (18.8) | |||||
Balance (shares) at Dec. 31, 2017 | 90.5 | |||||||
Balance at Dec. 31, 2017 | 482.3 | $ 113.2 | 721.5 | 374.5 | (567.4) | (196.3) | 445.5 | 36.8 |
Net loss | (24.1) | |||||||
Net loss | (32.6) | |||||||
Net loss | (102.7) | |||||||
Balance (shares) at Dec. 31, 2017 | 90.5 | |||||||
Balance at Dec. 31, 2017 | $ 482.3 | $ 113.2 | 721.5 | 374.5 | (567.4) | (196.3) | 445.5 | 36.8 |
Common Shares, $1.25 Par Value | $ 1.25 | |||||||
Net loss | $ (65.6) | |||||||
Balance (shares) at Dec. 31, 2017 | 90.5 | |||||||
Balance at Dec. 31, 2017 | 482.3 | $ 113.2 | 721.5 | 374.5 | (567.4) | (196.3) | 445.5 | 36.8 |
Net loss | (566) | (568.7) | (568.7) | 2.7 | ||||
Other comprehensive income (loss) | (107.4) | (107.4) | (107.4) | |||||
Other comprehensive income (loss), noncontrolling | (3.9) | |||||||
Other comprehensive (loss) income, net of tax | (111.3) | |||||||
Other comprehensive income (loss), net of tax and noncontrolling interest adjustment | (111.3) | |||||||
Restricted stock units issued, shares | 0.8 | |||||||
Share-based compensation issued | (0.1) | $ 1 | (1.1) | (0.1) | ||||
Share-based compensation expense | 36.6 | 36.6 | 36.6 | |||||
Dividends declared and paid | (7.7) | (7.7) | (7.7) | |||||
Treasury shares | (3) | (3) | (3) | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 33.6 | |||||||
Reclassification of guaranteed dividend to accrued liabilities | (3.4) | 0 | (3.4) | |||||
Reclassification From Noncontrolling Interests To Redeemable Noncontrolling Interests | (15.2) | (15.2) | (15.2) | 0 | ||||
Distributions to noncontrolling interest holders, net | (0.5) | 0 | (0.5) | |||||
Acquisitions and divestitures, net | (4.9) | 0 | (4.9) | |||||
Balance (shares) at Dec. 31, 2018 | 91.3 | |||||||
Balance at Dec. 31, 2018 | (159.6) | $ 114.2 | 741.8 | (168.3) | (570.4) | (303.7) | (186.4) | 26.8 |
Net loss | (128.3) | |||||||
Net loss | (244.6) | |||||||
Net loss | (127.5) | |||||||
Balance (shares) at Dec. 31, 2018 | 91.3 | |||||||
Balance at Dec. 31, 2018 | $ (159.6) | $ 114.2 | $ 741.8 | $ (168.3) | $ (570.4) | $ (303.7) | $ (186.4) | $ 26.8 |
Common Shares, $1.25 Par Value | $ 1.25 |
Consolidated Statements of Eq_2
Consolidated Statements of Equity (Parentheticals) - $ / shares shares in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Stockholders' Equity [Abstract] | |||
Treasury shares | 0.2 | 0.2 | 0.1 |
Common Shares, $1.25 Par Value | $ 1.25 | $ 1.25 | $ 1.25 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Cash flow from operating activities: | |||
Net loss | $ (566) | $ (213.9) | $ (35.6) |
Income from discontinued operations, net of tax | 0 | 0 | 143.7 |
Loss from continuing operations, net of tax | (566) | (213.9) | (179.3) |
Adjustments to reconcile net loss to cash provided (used) by operating activities: | |||
Depreciation and amortization | 258.7 | 252.2 | 134.8 |
Share-based compensation expense | 36.6 | 33.9 | 22.2 |
Impairment of assets | 217.5 | 3.1 | 9.8 |
Deferred income taxes | (59.6) | 16.6 | (94.6) |
Inventory Write-down | 74.5 | 4.2 | 1.8 |
Other Noncash Income (Expense) | (9.6) | 3.5 | (13.6) |
Cash flow from changes in certain assets and liabilities, net of the effects of acquisitions | |||
Trade receivables | 51 | 23.9 | 102.4 |
Inventories | (5.1) | 21.8 | 136.8 |
Accounts payable | (34.5) | (6.3) | (112.1) |
Deferred revenue | (42.4) | 26 | 60.6 |
Income taxes | (1.7) | (38.7) | (53.1) |
Restructuring accrual | 4.2 | (33.5) | 88 |
Warranty liability | (33.1) | (34.2) | (42.2) |
Pension and other post-retirement benefits | (1.2) | (14) | (16.6) |
Certain other assets and liabilities | 6.6 | (7.5) | (5.6) |
Net cash (used) provided by operating activities - continuing operations | (104.1) | 37.1 | 39.3 |
Net cash used by operating activities - discontinued operations | 0 | 0 | (10.6) |
Net cash (used) provided by operating activities | (104.1) | 37.1 | 28.7 |
Cash flow from investing activities: | |||
Capital expenditures | (58.5) | (69.4) | (39.5) |
Payments for acquisitions, net of cash acquired | (5.9) | (5.6) | (884.6) |
Proceeds from maturities of investments | 317.8 | 296.2 | 225 |
Payments for purchases of investments | (200.2) | (329.8) | (243.5) |
Proceeds from divestitures and the sale of assets | 11.1 | 20.9 | 31.3 |
Increase in certain other assets | (29.9) | (33.1) | (28.2) |
Proceeds from sale of foreign currency option and forward contracts, net | 0 | 0 | 16.2 |
Net cash provided (used) by investing activities - continuing operations | 34.4 | (120.8) | (923.3) |
Net cash provided by investing activities - discontinued operations | 0 | 0 | 361.9 |
Net cash provided (used) by investing activities | 34.4 | (120.8) | (561.4) |
Cash flow from financing activities: | |||
Dividends paid | (7.7) | (30.6) | (64.6) |
Debt issuance costs | (39.4) | (1.1) | (39.2) |
Revolving debt borrowings (repayments), net | 50 | 75 | (178) |
Other debt borrowings | 725.9 | 374.1 | 1,837.7 |
Other debt repayments | (337.7) | (458.8) | (662.5) |
Distributions to noncontrolling interest holders | (377.2) | (17.6) | (10.2) |
Issuance of common shares | 0 | 0.3 | 0.3 |
Repurchase of common shares | (3) | (5) | (2.2) |
Net cash provided (used) by financing activities | 10.9 | (63.7) | 881.3 |
Effect of exchange rate changes on cash | (18.7) | 37.9 | (8) |
(Decrease) increase in cash, cash equivalents and restricted cash | (77.5) | (109.5) | 340.6 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (77.5) | (109.5) | 340.6 |
Add: Cash overdraft included in assets held for sale at beginning of year | 0 | 0 | (1.5) |
Less: Cash overdraft included in assets held for sale at end of year | 7.3 | 0 | 0 |
Cash, cash equivalents, and restricted cash | 458.4 | 543.2 | 652.7 |
Cash paid for | |||
Income taxes | 64.9 | 78.2 | 83.8 |
Interest | $ 129.6 | $ 99.9 | $ 85.4 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation. The consolidated financial statements include the accounts of Diebold Nixdorf, Incorporated and its wholly- and majority-owned subsidiaries (collectively, the Company). All significant intercompany accounts and transactions have been eliminated, including common control transfers among subsidiaries of the Company. Use of Estimates in Preparation of Consolidated Financial Statements. The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include revenue recognition, the valuation of trade and financing receivables, inventories, goodwill, intangible assets, other long-lived assets, legal contingencies, guarantee obligations and assumptions used in the calculation of income taxes, pension and other post-retirement benefits and customer incentives, among others. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors. Management monitors the economic condition and other factors and will adjust such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Error Correction. During 2018, the Company identified immaterial errors in prior periods presented for certain inventory balances, goodwill and various other items. Management determined these errors were not material to any prior period and the accompanying consolidated financial statements for 2017 and 2016 have been adjusted. These corrections were recorded within the Company's Eurasia Banking, Americas Banking and Retail reportable operating segments. As a result of applying the corrections retrospectively, previously reported balances within certain financial statement line items were increased (decreased) as follows: Years Ended December 31, 2017 2016 (in millions, except per share data) Results of operations Cost of sales - Services $ 8.4 $ 8.0 Cost of sales - Products $ 1.5 $ 2.0 Income tax benefit $ (1.5 ) $ (1.4 ) Net loss attributable to Diebold Nixdorf, Incorporated $ (8.4 ) $ (8.6 ) Basic and diluted loss per common share $ (0.11 ) $ (0.12 ) Consolidated balance sheet data Trade receivables, less allowances for doubtful accounts $ (2.2 ) Inventories $ (22.5 ) Other current assets $ (3.5 ) Deferred revenue $ (1.0 ) Other current liabilities $ (2.7 ) Total equity $ (24.5 ) The errors described above primarily related to repairable service parts inventory as well as various other items. Refer to note 5 for further details on the major classes of inventories. The Company also re-allocated goodwill to its reporting units used in the computation of the impairment analysis which resulted in a changes to the non-cash impairment loss recorded in the second and third quarters of 2018. Refer to note 8 for further details related to impairment of assets. Retained earnings at January 1, 2016 was reduced by $7.5 as a result of the retrospective corrections. There was no impact of the correction on previously reported cash flows from operations for the prior periods. Reclassification. In connection with recent changes in the Company's leadership, beginning with the second quarter of 2018, the Company's reportable operating segments are based on the following solutions: Eurasia Banking, Americas Banking and Retail. As a result, the Company reclassified comparative periods for consistency. The Company has reclassified the presentation of certain prior-year information to conform to the current presentation. The Company reclassified $8.0 from other current assets to restricted cash as of December 31, 2017 in the consolidated balance sheets and was included in cash, cash equivalents and restricted cash as of December 31, 2017 in the consolidated statements of cash flows. International Operations. The financial statements of the Company’s international operations are measured using local currencies as their functional currencies, with the exception of certain financial results from Venezuela, Mexico, Argentina, Singapore and Switzerland, which have a functional currency other than local currency. These operations used either United States dollar (USD) or euro as their functional currency depending on the concentration of USD or euro transactions and distinct financial information. The Company translates the assets and liabilities of its non-U.S. subsidiaries at the exchange rates in effect at year end and the results of operations at the average rate throughout the year. The translation adjustments are recorded directly as a separate component of shareholders’ equity, while transaction gains (losses) are included in net income. Acquisitions and Divestitures. Acquisitions are accounted for using the purchase method of accounting. This method requires the Company to record assets and liabilities of the business acquired at their estimated fair market values as of the acquisition date. Any excess cost of the acquisition over the fair value of the net assets acquired is recorded as goodwill. The Company generally uses valuation specialists to perform appraisals and assist in the determination of the fair values of the assets acquired and liabilities assumed. These valuations require management to make estimates and assumptions that are critical in determining the fair values of the assets and liabilities. For all divestitures, the Company considers assets to be held for sale when management approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer and other actions required to complete the sale have been initiated, the sale of the assets is probable and expected to be completed within one year (or, if it is expected that others will impose conditions on the sale of the assets that will extend the period required to complete the sale, that a firm purchase commitment is probable within one year) and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, the Company records the assets at the lower of their carrying value or their estimated fair value, reduced for the cost to dispose of the assets, and ceases to record depreciation expense on the assets. Assets and liabilities are reclassified as held for sale in the period the held for sale criteria are met. The Company reports financial results for discontinued operations separately from continuing operations to distinguish the financial impact of a divestiture from ongoing operations. Discontinued operations reporting occurs only when the disposal of a component or a group of components of the Company represents a strategic shift that will have a major effect on the Company's operations and financial results. For those divestitures that qualify as discontinued operations, all comparative periods presented are reclassified in the consolidated balance sheets. Additionally, the results of operations of a discontinued operation are reclassified to income from discontinued operations, net of tax, for all periods presented. As of December 31, 2018, the Company had $81.5 and $33.2 of current assets and liabilities held for sale, respectively, primarily related to non-core businesses in Europe and the Americas. As of December 31, 2017, the Company had $2.1 of current assets held for sale primarily related to a building in North America. The Company closed it divestiture of the NA ES business on February 1, 2016 and included its operating results and operating and investing cash flows in discontinued operations for 2016. Revenue Recognition. Revenue is measured based on consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The amount of consideration can vary depending on discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, penalties, or other similar items contained in the contract with the customer of which generally these variable consideration components represents minimal amount of net sales. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The Company's payment terms vary depending on the individual contracts and are generally fixed fee. The Company recognizes advance payments and billings in excess of revenue recognized as deferred revenue. In certain contracts where services are provided prior to billing, the Company recognizes a contract asset within trade receivables and other current assets. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and that are collected by the Company from a customer are excluded from revenue. The Company recognizes shipping and handling fees billed when products are shipped or delivered to a customer and includes such amounts in net sales. Although infrequent, shipping and handling associated with outbound freight after control over a product has transferred to a customer is not a separate performance obligation, rather it is accounted for as a fulfillment cost. Third-party freight payments are recorded in cost of sales. The Company includes a warranty in connection with certain contracts with customers, which are not considered to be separate performance obligations. The Company provides its customers a manufacturer’s warranty and records, at the time of the sale, a corresponding estimated liability for potential warranty costs. For additional information on product warranty refer to note 9. The Company also has extended warranty and service contracts available for its customers, which are recognized as separate performance obligations. Revenue is recognized on these contracts ratably as the Company has a stand-ready obligation to provide services when or as needed by the customer. This input method is the most accurate assessment of progress toward completion the Company can apply. Nature of goods and services Product revenue is recognized at the point in time that the customer obtains control of the product, which could be upon delivery or upon completion of installation services, depending on contract terms. The Company’s software licenses are functional in nature (the IP has significant stand-alone functionality); as such, the revenue recognition of distinct software license sales is at the point in time that the customer obtains control of the rights granted by the license. Professional services integrate the commercial solution with the customer's existing infrastructure and helps define the optimal user experience, improve business processes, refine existing staffing models and deploy technology to meet branch and store automation objectives. Revenue from professional services are recognized over time, because the customer simultaneously receives and consumes the benefits of the Company’s performance as the services are performed or when the Company’s performance creates an asset with no alternative use and the Company has an enforceable right to payment for performance completed to date. Generally revenue will be recognized using an input measure, typically costs incurred. The typical contract length for service is generally one year and is billed and paid in advance except for installations, among others. Services may be sold separately or in bundled packages. For bundled packages, the Company accounts for individual services separately if they are distinct. A distinct service is separately identifiable from other items in the bundled package if a customer can benefit from it on its own or with other resources that are readily available to the customer. The consideration (including any discounts) is allocated between separate services or distinct obligations in a bundle based on their stand-alone selling prices. The stand-alone selling prices are determined based on the prices at which the Company separately sells the products or services. For items that are not sold separately, the Company estimates stand-alone selling prices using the cost plus expected margin approach. Revenue on service contracts is recognized ratably over time, generally using an input measure, as the customer simultaneously receives and consumes the benefits of the Company’s performance as the services are performed. In some circumstances, when global service supply chain services are not included in a term contract and rather billed as they occur, revenue on these billed work services are recognized at a point in time as transfer of control occurs. The following is a description of principal solutions offered within the Company's two main industry segments that generate the Company's revenue. Banking Products. Products for banking customers consist of cash recyclers and dispensers, intelligent deposit terminals, teller automation tools and kiosk technologies, as well as physical security solutions. The Company provides its banking customers front-end applications for consumer connection points and back-end platforms that manage channel transactions, operations and integration and facilitate omnichannel transactions, endpoint monitoring, remote asset management, customer marketing, merchandise management and analytics. These offerings include highly configurable, API enabled software that automates legacy banking transactions across channels. Services. The Company provides its banking customers product-related services which include proactive monitoring and rapid resolution of incidents through remote service capabilities or an on-site visit. First and second line maintenance, preventive maintenance and on-demand services keep the distributed assets of the Company's customers up and running through a standardized incident management process. Managed services and outsourcing consists of the end-to-end business processes, solution management, upgrades and transaction processing. The Company also provides a full array of cash management services, which optimizes the availability and cost of physical currency across the enterprise through efficient forecasting, inventory and replenishment processes. Retail Products. The retail product portfolio includes modular, integrated and mobile POS and SCO terminals that meet evolving automation and omnichannel requirements of consumers. Supplementing the POS system is a broad range of peripherals, including printers, scales and mobile scanners, as well as the cash management portfolio which offers a wide range of banknote and coin processing systems. Also in the portfolio, the Company provides SCO terminals and ordering kiosks which facilitate an efficient and user-friendly purchasing experience. The Company’s hybrid product line can alternate from an attended operator to self-checkout with the press of a button as traffic conditions warrant throughout the business day. The Company's platform software is installed within retail data centers to facilitate omnichannel transactions, endpoint monitoring, remote asset management, customer marketing, merchandise management and analytics. Services. The Company provides its retail customers product-related services which include on-demand services and professional services. Diebold Nixdorf AllConnect Services for retailers include maintenance and availability services to continuously improve retail self-service fleet availability and performance. These include: total implementation services to support both current and new store concepts; managed mobility services to centralize asset management and ensure effective, tailored mobile capability; monitoring and advanced analytics providing operational insights to support new growth opportunities; and store life-cycle management to proactively monitors store IT endpoints and enable improved management of internal and external suppliers and delivery organizations. Refer to note 20 for additional information regarding the Company's reportable operating segments, disaggregation of net sales by segments and product solutions, net sales by geographical region and disaggregation by timing of revenue recognition. Contract balances The following table provides 2018 information about receivables and deferred revenue, which represent contract liabilities from contracts with customers: Contract balance information Trade Receivables Contract liabilities Balance at January 1 $ 827.9 $ 436.5 Balance at December 31 $ 737.2 $ 378.2 Contract assets are minimal for the periods presented. The amount of revenue recognized in 2018 from performance obligations satisfied (or partially satisfied) in previous periods, mainly due to the changes in the estimate of variable consideration and contract modifications was de minimis. There have been $22.8 and $54.9 during the years ended December 31, 2018 and 2017, respectively, of impairment losses recognized as bad debt related to receivables or contract assets arising from the Company's contracts with customers. As of January 1, 2018, the Company had $436.5 of unrecognized deferred revenue constituting the remaining performance obligations that are either unsatisfied (or partially unsatisfied). In 2018, the Company recognized revenue of $332.5 related to the Company's deferred revenue balance at January 1, 2018. Contract assets are the rights to consideration in exchange for goods or services that the Company has transferred to a customer when that right is conditional on something other than the passage of time. Contract assets of the Company primarily relate to the Company's rights to consideration for goods shipped and services provided but not contractually billable at the reporting date. The contract assets are reclassified into the receivables balance when the rights to receive payment become unconditional. Contract liabilities are recorded for any services billed to customers and not yet recognizable if the contract period has commenced or for the amount collected from customers in advance of the contract period commencing. In addition, contract liabilities are recorded as advanced payments for products and other deliverables that are billed to and collected from customers prior to revenue being recognizable. Transaction price and variable consideration The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer, excluding amounts collected on behalf of third parties. This consideration can include fixed and variable amounts and is determined at contract inception and updated each reporting period for any changes in circumstances. The transaction price also considers variable consideration, time value of money and the measurement of any non-cash consideration, all of which are estimated at contract inception and updated at each reporting date for any changes in circumstances. Once the variable consideration is identified, the Company estimates the amount of the variable consideration to include in the transaction price by using one of two methods, expected value (probability weighted methodology) or most likely amount (when there are only two possible outcomes). The Company chooses the method expected to better predict the amount of consideration to which it will be entitled and applies the method consistently to similar contracts. Generally, the Company applies the expected value method when assessing variable consideration including returns and refunds. The Company also applies the ‘as invoiced’ practical expedient in Accounting Standards Codification (ASC) paragraph 606-10-55-18 related to performance obligations satisfied over time, which permits the Company to recognize revenue in the amount to which it has a right to invoice the customer if that amount corresponds directly with the value to the customer of the Company’s performance completed to date. Service revenues that are recognized ratably are primarily contracts that include first and second line maintenance. Service revenues that are recognized using input measures include primarily preventative maintenance. The ‘as invoiced’ practical expedient relates to the on-demand service revenue which is generally not under contract. Transaction price allocated to the remaining performance obligations As of December 31, 2018 , the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $2,900 . The Company generally expects to recognize revenue on the remaining performance obligations over the next twelve months. The Company enters into service agreements with cancellable terms after a certain period without penalty. Unsatisfied obligations reflect only the obligation during the initial term. The Company applies the practical expedient in ASC paragraph 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. Cost to obtain and cost to fulfill a contract The Company has minimal cost to obtain or fulfill contracts for customers for the periods presented. The Company pays commissions to the sales force based on multiple factors including but not limited to order entry, revenue recognition and portfolio growth. These incremental commission fees paid to the sales force meet the criteria to be considered a cost to obtain a contract, as they are directly attributable to a contract, incremental and management expects the fees are recoverable. The Company applies the practical expedient and recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. The costs that are not capitalized are included in cost of sales. The costs related to contracts with greater than a one-year term are immaterial and continue to be recognized in cost of sales. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales. The Company has minimal cost for shipping and handling costs for the periods presented. Changes in accounting policies Except for the changes below, the Company has consistently applied the accounting policies to all periods presented in these consolidated financial statements. The Company adopted Accounting Standards Updated (ASU) Topic 606, Revenue from Contracts with Customers (Topic 606) , with a date of initial application of January 1, 2018. As a result, the Company has changed its accounting policy for revenue recognition as detailed below. The Company applied Topic 606 using the cumulative effect method — i.e., by recognizing the cumulative effect of initially applying Topic 606 as an adjustment to the opening balance of equity at January 1, 2018. Therefore, the comparative information has not been adjusted and continues to be reported under ASU Topic 605, Revenue Recognition . The Company applied the practical expedient related to assessment of contract modifications, whereby the Company is essentially allowed to use hindsight when assessing the effect of a modification and accounting for the modified contract as if it existed from the beginning of the original contract. The details of the significant changes and quantitative impact of the changes are set out below. Professional service contracts Previously, the Company recognized revenue for professional services contracts either on a milestone method or completed contract basis. Under Topic 606, the Company recognizes revenue when control transfers to a customer. As professional services can be highly customized for each customer, there is no alternative use for the services. When there is an enforceable right to payment for service completed combined with no alternative use of the services, the services meet criteria for over time revenue recognition. Revenue is recognized as the services are provided and as the customer benefits from the service. Revenue is recognized progressively based on the costs incurred method. When the professional services are not highly customized as in basic software installation services, customers do not take control of the services until they are completed. Therefore, the Company continues to recognize revenue for such contracts when the services are completed and customers formally accept them. In certain circumstances, a contract with a customer that contains a software arrangement may include provisions for customer acceptance. In these cases, when or as the performance obligation is satisfied, the Company recognizes revenue and records a contract asset until customer acceptance is received. Once customer acceptance is received, the contract asset is reclassified to accounts receivable. As of December 31, 2018 , contract assets related to these arrangements were minimal. In situations where the performance obligation has not been met and the Company has not received customer acceptance, no revenue is recognized. Customer acceptance provisions by their nature require the customer to approve that the Company has satisfied its performance obligation and are generally standard throughout the Company's contracts with customers. If an instance arises where the Company would recognize revenue prior to customer acceptance, which occurs primarily when the Company provides bundled software and professional services, it is the Company's policy, pursuant to Topic 606, when or as the performance obligation is satisfied, to recognize revenue and record a contract asset or reduce deferred revenue, as applicable, until customer acceptance is received. Once customer acceptance is received, the contract asset is reclassified to trade receivables, net. In these circumstances, the Company would consider ASC 606-10-55-86 and -87 and conclude that although a standard method to transferring the software and services is not met, the standard terms of the customer acceptance provisions and favorable history of customer acceptances support revenue recognition prior to customer acceptance. The Company also would only recognize revenue prior to customer acceptance only if there were no remaining inputs related to performance obligation. These instances were immaterial. For certain contracts that contain customer acceptance clauses, such as customized software arrangements, the revenue is recognized pursuant to ASC 606-25 25-27(c) since the Company’s performance does not create an asset with an alternative use and the Company has an enforceable right to payment for performance completed to date. Impacts on financial statements The following table summarize the impacts of adopting Topic 606 on the Company’s consolidated financial statements as of and for the period ended December 31, 2018 as if the Company continued to follow its accounting policies under the previous revenue recognition guidance. Impact of changes in accounting policy for the twelve months ended December 31, 2018 As Reported Adjustments Balances without adoption of Topic 606 Trade receivables, less allowances for doubtful accounts of $58.2 and $71.7, respectively $ 737.2 $ (3.9 ) $ 733.3 Inventories $ 610.1 $ 24.2 $ 634.3 Deferred revenue $ 378.2 $ 30.7 $ 408.9 Deferred income taxes $ 221.6 $ (0.7 ) $ 220.9 Retained earnings (accumulated deficit) $ (168.3 ) $ (9.8 ) $ (178.1 ) The impact to net sales and cost of sales would have been decreases of $18.2 and $14.2 , respectively, for the year ended December 31, 2018 . The impact after tax was $(0.9) for the year ended December 31, 2018 and was primarily a result of timing of deferred revenue related to products and software for certain amounts being recognized that would have previously been deferred, and certain amounts being deferred that would have previously been recognized. Cost of Sales. Cost of services sales primarily consists of fuel, parts and labor and benefits costs related to installation of products and service maintenance contracts, including call center costs as well as costs for service parts repair centers. Cost of products sales is primarily comprised of direct materials and supplies consumed in the manufacturing and distribution of products, as well as related labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished products. Cost of products sales also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity. Property, plant and equipment and long-lived assets. Property, plant and equipment and long-lived assets are recorded at historical cost, including interest where applicable. Impairment of property, plant and equipment and long-lived assets is recognized when events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If the expected future undiscounted cash flows are less than the carrying amount of the asset, an impairment loss is recognized at that time to reduce the asset to the lower of its fair value or its net book value. Depreciation and Amortization. Depreciation of property, plant and equipment is computed using the straight-line method based on the estimated useful life for each asset class. Amortization of leasehold improvements is based upon the shorter of original terms of the lease or life of the improvement. Repairs and maintenance are expensed as incurred. Generally, amortization of the Company’s other long-term assets, such as intangible assets and capitalized computer software, is computed using the straight-line method over the life of the asset. Certain acquired technology assets utilize a double-declining method. Fully depreciated assets are retained until disposal. Upon disposal, assets and related accumulated depreciation or amortization are removed from the accounts and the net amount, less proceeds from disposal, is charged or credited to operations. Advertising Costs. Advertising costs are expensed as incurred and were $10.1 , $11.0 and $14.0 in 2018 , 2017 and 2016 , respectively. Research, Development and Engineering. Research, development and engineering costs are expensed as incurred and were $157.4 , $155.5 and $110.2 in 2018 , 2017 and 2016 , respectively. Shipping and Handling Costs. The Company recognizes shipping and handling fees billed when products are shipped or delivered to a customer and includes such amounts in net sales. Third-party freight payments are recorded in cost of sales. Taxes on Income. Deferred taxes are provided on an asset and liability method, whereby deferred tax assets are recognized for deductible temporary differences, operating loss carry-forwards and tax credits. Deferred tax liabilities are recognized for taxable temporary differences and undistributed earnings in certain tax jurisdictions. Deferred tax assets are reduced by a valuation allowance when, based on available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Determination of a valuation allowance involves estimates regarding the timing and amount of the reversal of taxable temporary differences, expected future taxable income and the impact of tax planning strategies. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company regularly assesses its position with regard to tax exposures and records liabilities for these uncertain tax positions and related interest and penalties, if any, when the tax benefit is not more likely than not realizable. The Company has recorded an accrual that reflects the recognition and measurement process for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return. Additional future income tax expense or benefit may be recognized once the positions are effectively settled. Sales Tax. The Company collects sales taxes from customers and accounts for sales taxes on a net basis. Cash, C |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
EARNINGS (LOSS) PER SHARE | EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share is based on the weighted-average number of common shares outstanding. Diluted earnings (loss) per share includes the dilutive effect of potential common shares outstanding. Under the two-class method of computing earnings (loss) per share, non-vested share-based payment awards that contain rights to receive non-forfeitable dividends are considered participating securities. The Company’s participating securities include restricted stock units (RSUs), director deferred shares and shares that were vested but deferred by employees. The Company calculated basic and diluted earnings (loss) per share under both the treasury stock method and the two-class method. For the years presented there were no differences in the earnings (loss) per share amounts calculated using the two methods. Accordingly, the treasury stock method is disclosed below. The following table represents amounts used in computing earnings (loss) per share and the effect on the weighted-average number of shares of dilutive potential common shares for the years ended December 31: 2018 2017 2016 Numerator Income (loss) used in basic and diluted earnings (loss) per share Loss from continuing operations, net of tax $ (566.0 ) $ (213.9 ) $ (179.3 ) Net income attributable to noncontrolling interests, net of tax 2.7 27.6 6.0 Loss before discontinued operations, net of tax (568.7 ) (241.5 ) (185.3 ) Income from discontinued operations, net of tax — — 143.7 Net loss attributable to Diebold Nixdorf, Incorporated $ (568.7 ) $ (241.5 ) $ (41.6 ) Denominator Weighted-average number of common shares used in basic and diluted earnings (loss) per share (1) 76.0 75.5 69.1 Basic and diluted earnings (loss) per share Loss before discontinued operations, net of tax $ (7.48 ) $ (3.20 ) $ (2.68 ) Income from discontinued operations, net of tax — — 2.08 Net loss attributable to Diebold Nixdorf, Incorporated $ (7.48 ) $ (3.20 ) $ (0.60 ) Anti-dilutive shares Anti-dilutive shares not used in calculating diluted weighted-average shares 4.5 3.4 2.1 (1) Incremental shares of 0.7 , 0.7 and 0.6 were excluded from the computation of diluted loss per share for the years ended December 31, 2018, 2017 and 2016, respectively, because their effect is anti-dilutive due to the loss from continuing operations. |
Share-Based Compensation and Eq
Share-Based Compensation and Equity | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
SHARE-BASED COMPENSATION AND EQUITY | SHARE-BASED COMPENSATION AND EQUITY Dividends. On the basis of amounts declared and paid quarterly, the annualized dividends per share were $0.10 , $0.40 and $0.96 for the years ended December 31, 2018 , 2017 and 2016 , respectively. In May 2018, the Company announced its decision to reallocate future dividend funds towards debt reduction and other capital resource needs. Share-Based Compensation Cost. The Company recognizes costs resulting from all share-based payment transactions based on the fair market value of the award as of the grant date. Awards are valued at fair value and compensation cost is recognized on a straight-line basis over the requisite periods of each award. The Company estimated forfeiture rates are based on historical experience. To cover the exercise and/or vesting of its share-based payments, the Company generally issues new shares from its authorized, unissued share pool. The number of common shares that may be issued pursuant to the 2017 Equity and Performance Incentive Plan (the 2017 Plan) was 6.1 , of which 3.6 shares were available for issuance at December 31, 2018 . The following table summarizes the components of the Company’s employee and non-employee directors share-based compensation programs recognized as selling and administrative expense for the years ended December 31: 2018 2017 2016 Stock options Pre-tax compensation expense $ 2.8 $ 4.6 $ 2.7 Tax benefit (0.6 ) (1.3 ) (0.9 ) Stock option expense, net of tax $ 2.2 $ 3.3 $ 1.8 RSU's Pre-tax compensation expense $ 19.8 $ 16.4 $ 10.7 Tax benefit (4.3 ) (4.0 ) (3.1 ) RSU expense, net of tax $ 15.5 $ 12.4 $ 7.6 Performance shares Pre-tax compensation expense $ 14.0 $ 12.9 $ 8.8 Tax benefit (3.3 ) (3.0 ) (3.0 ) Performance share expense, net of tax $ 10.7 $ 9.9 $ 5.8 Total share-based compensation Pre-tax compensation expense $ 36.6 $ 33.9 $ 22.2 Tax benefit (8.2 ) (8.3 ) (7.0 ) Total share-based compensation, net of tax $ 28.4 $ 25.6 $ 15.2 The following table summarizes information related to unrecognized share-based compensation costs as of December 31, 2018 : Unrecognized Weighted-Average Period (years) Stock options $ 1.3 1.2 RSUs 12.3 1.2 Performance shares 12.1 1.6 $ 25.7 SHARE-BASED COMPENSATION AWARDS Stock options, RSUs and performance shares have been issued to officers and other management employees under the Company’s Amended and Restated 1991 Equity and Performance Incentive Plan (as amended and restated as of February 12, 2014) (the 1991 Plan) and the 2017 Plan. Certain awards have accelerated vesting clauses that result in a non-substantive vesting requirement, which results in either immediate or accelerated expense. Stock Options Stock options generally vest after a one - to three -year period and have a maturity of ten years from the issuance date. Option exercise prices equal the closing price of the Company’s common shares on the date of grant. The estimated fair value of the options granted was calculated using a Black-Scholes option pricing model using the following assumptions: 2018 2017 2016 Expected life (in years) 3 3 6 Weighted-average volatility 36 % 31 % 28 % Risk-free interest rate 2.39-2.42% 1.28 % 1.50 % Expected dividend yield 2.24 % 1.65 % 3.10 % The Company uses historical data to estimate option exercise timing within the valuation model. Employees with similar historical exercise behavior with regard to timing and forfeiture rates are considered separately for valuation and attribution purposes. Expected volatility is based on historical volatility of the price of the Company’s common shares over the expected life of the equity instrument. The risk-free rate of interest is based on a zero-coupon U.S. government instrument over the expected life of the equity instrument. The expected dividend yield is based on actual dividends paid per share and the price of the Company’s common shares. The options granted in 2018 were granted prior to the dividend cancellation and include the expected dividend at the time of the grant date. Options outstanding and exercisable as of December 31, 2018 and changes during the year ended were as follows: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (1) (per share) (in years) Outstanding at January 1, 2018 2.3 $ 29.68 Expired or forfeited (0.3 ) $ 29.50 Granted 0.5 $ 17.53 Outstanding at December 31, 2018 2.5 $ 27.05 7 $ — Options exercisable at December 31, 2018 1.5 $ 30.34 6 $ — Options vested and expected to vest (2) at December 31, 2018 2.4 $ 27.21 7 $ — (1) The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company’s closing share price on the last trading day of the year in 2018 and the exercise price, multiplied by the number of “in-the-money” options) that would have been received by the option holders had all option holders exercised their options on December 31, 2018 . The amount of aggregate intrinsic value will change based on the fair market value of the Company’s common shares. (2) The expected to vest options are the result of applying the pre-vesting forfeiture rate assumption to total outstanding non-vested options. The aggregate intrinsic value of options exercised was minimal for the years ended December 31, 2018 and 2017 , and 2016 . The weighted-average, grant-date fair value of stock options granted for the years ended December 31, 2018 , 2017 and 2016 was $4.21 , $4.57 and $5.37 , respectively. Total fair value of stock options vested during the years ended December 31, 2018 , 2017 and 2016 was $3.0 , $2.4 and $2.6 , respectively. There were no options exercised during the year end December 31, 2018 . Exercise of options during the years ended December 31, 2017 and 2016 resulted in cash receipts of $0.3 and $0.3 , respectively. Restricted Stock Units Each RSU provides for the issuance of one common share of the Company at no cost to the holder and are granted to both employees and non-employee directors. RSUs granted to employees prior to 2016 vest after a three -year period. RSUs granted to employees during or after 2016 ratably vest per annum over a three-year period and for non-employee directors cliff vest after one year. During the vesting period, employees and non-employee directors are paid the cash equivalent of dividends on RSUs. Non-vested employee RSUs are forfeited upon termination unless the Board of Directors determines otherwise. Non-vested RSUs outstanding as of December 31, 2018 and changes during the year ended were as follows: Number of Weighted-Average Non-vested at January 1, 2018 1.3 $ 27.76 Forfeited (0.3 ) $ 21.87 Vested (0.7 ) $ 28.76 Granted (1) 1.3 $ 17.34 Non-vested at December 31, 2018 1.6 $ 19.66 (1) The RSUs granted during the year ended December 31, 2018 included 0.1 one -year RSUs to non-employee directors under the 1991 Plan. These RSUs had a weighted-average, grant-date fair value of $14.98 . The weighted-average grant-date fair value of RSUs granted for the years ended December 31, 2018 , 2017 and 2016 was $ 17.34 , $26.81 and $26.77 , respectively. The total fair value of RSUs vested during the years ended December 31, 2018 , 2017 and 2016 was $18.9 , $13.9 and $7.2 , respectively. Performance Shares Performance shares are granted to employees and vest based on the achievement of certain performance objectives, as determined by the Board of Directors each year. The estimated fair value of certain performance shares granted was calculated using the Monte Carlo simulation method. Each performance share earned entitles the holder to one common share of the Company. The Company's performance shares include performance objectives that are assessed after a three -year period as well as performance objectives that are assessed annually over a three -year period. No shares are vested unless certain performance threshold objectives are met. Non-vested performance shares outstanding as of December 31, 2018 and changes during the year ended were as follows: Number of Weighted-Average Non-vested at January 1, 2018 (1) 2.5 $ 31.37 Forfeited (0.9 ) $ 28.81 Vested (0.2 ) $ 32.38 Granted 1.6 $ 22.65 Non-vested at December 31, 2018 3.0 $ 26.90 (1) Non-vested performance shares are based on a maximum potential payout. Actual shares vested at the end of the performance period may be less than the maximum potential payout level depending on achievement of the performance objectives, as determined by the Board of Directors. The weighted-average grant-date fair value of performance shares granted for the years ended December 31, 2018 , 2017 and 2016 was $22.65 , $31.31 and $26.99 , respectively. The total fair value of performance shares vested during the years ended December 31, 2018 , 2017 and 2016 was $5.5 , $3.6 and $3.1 , respectively. Director Deferred Shares The Company has a minimal amount of deferred shares which are both vested and outstanding that were issued to non-employee directors under the 1991 Plan and will be issued at the end of the deferral period. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | INCOME TAXES The following table presents components of loss from continuing operations before taxes for the years ended December 31: 2018 2017 2016 Domestic $ (300.9 ) $ (212.6 ) $ (219.2 ) Foreign (214.7 ) 20.7 (29.5 ) Total $ (515.6 ) $ (191.9 ) $ (248.7 ) The following table presents the components of income tax (benefit) expense for the years ended December 31: 2018 2017 2016 Current U.S. federal $ 0.8 $ (5.9 ) $ (68.6 ) Foreign 49.0 72.9 54.0 State and local 1.9 1.7 (10.6 ) Total current 51.7 68.7 (25.2 ) Deferred U.S. federal 4.6 7.6 3.6 Foreign (19.8 ) (44.9 ) (50.2 ) State and local 0.7 (3.1 ) 2.8 Total deferred (14.5 ) (40.4 ) (43.8 ) Income tax expense (benefit) $ 37.2 $ 28.3 $ (69.0 ) In addition to the income tax expense (benefit) listed above for the years ended December 31, 2018 , 2017 and 2016 , income tax expense (benefit) allocated directly to shareholders equity for the same periods was $4.8 , $7.2 and $(1.8) , respectively. The income tax expense (benefit) allocated directly to shareholders equity for the years ended December 31, 2018 , 2017 and 2016 also includes expense of $11.6 , $9.9 and $7.7 , respectively, related to current year movement in valuation allowance. Income tax expense (benefit) allocated to discontinued operations for the year ended December 31, 2016 was $93.9 . Income tax expense (benefit) attributable to loss from continuing operations before taxes differed from the amounts computed by applying the U.S. federal income tax rate of 21 percent to pre-tax loss from continuing operations for year ended December 31, 2018 as a result of the Tax Act. The applicable U.S. federal rate of 35 percent to pre-tax loss from continuing operations was used for the years ended December 31, 2017 and 2016. The following table presents these differences for the years ended December 31: 2018 2017 2016 Statutory tax benefit $ (108.3 ) $ (67.2 ) $ (87.0 ) Brazil non-taxable incentive (3.8 ) (3.9 ) (5.8 ) Valuation allowances 80.6 10.5 14.9 Goodwill impairment 41.8 — — Foreign tax rate differential (33.7 ) (31.5 ) (10.0 ) Foreign subsidiary earnings 4.9 14.4 13.7 Accrual adjustments 3.1 4.1 1.1 Tax Act - rate impact on deferred tax balance (2.5 ) 45.1 — Tax Act - deemed repatriation tax 32.6 36.6 — Business tax credits (1.1 ) (0.6 ) (0.7 ) Non-deductible (non-taxable) items 18.9 22.1 4.5 Other 4.7 (1.3 ) 0.3 Income tax expense (benefit) $ 37.2 $ 28.3 $ (69.0 ) The Tax Act was enacted on December 22, 2017. The Tax Act reduced the U.S. federal corporate income tax rate from 35 percent to 21 percent , required companies to pay a one-time transition tax on earnings for certain foreign subsidiaries and created new taxes on certain foreign sourced earnings. Due to the complexities involved in accounting for the enacted Tax Act, the Company applied the guidance in SAB 118 and a reasonable estimate of the impacts was included for the year ended December 31, 2017. At December 31, 2017, the Company recorded a non-cash charge to tax expense of $81.7 of which $45.1 represented the reduction to deferred income taxes for the income tax rate change and $36.6 related to the one-time transition tax on deferred foreign earnings. As of December 31, 2018, the Company completed the accounting as required under SAB 118 for items previously considered provisional. While the Company was able to make an estimate of the transition tax for 2017, it continued to gather additional information to more precisely compute the amount reported on its 2017 U.S. Federal tax return which was filed in the fourth quarter of 2018. Additionally, the Company was affected by other analyses related to the Tax Act. Transition tax was $41.1 greater than the Company’s initial estimate and was included in tax expense for 2018. Likewise, while the Company was able to make an estimate of the impact of the reduction to the corporate tax rate, in 2018 the Company recorded additional tax benefits of $2.5 as a result of adjustments made to federal temporary differences including a pension contribution made in 2018 that was deductible for 2017 at the higher 35 percent federal tax rate. In 2018, the Company also recorded a tax benefit of $8.5 related to the one-time transition tax for a fiscal year foreign subsidiary. The Company will continue to analyze the full effects of the Tax Act on its financial statements as additional guidance is issued and interpretations evolve. The effective tax rate for 2018 was 7.2 percent and is primarily due to a goodwill impairment charge, impacts of the Tax Act, valuation allowances on certain foreign and state jurisdictions, foreign tax credits and the higher interest expense burden resulting from the debt restructuring. More specifically, the expense on the loss reflects the reduction of the U.S. federal corporate income tax rate from 35 percent to 21 percent , refinement of the transition tax under SAB 118, a goodwill impairment charge, which for tax purposes is primarily nondeductible and the business interest deduction limitation. As a result of the Company’s debt restructuring activity during the year, a full valuation allowance was required on the current year nondeductible business interest expense. The overall effective tax rate is also impacted by the jurisdictional income (loss) and varying respective statutory rates which is reflected in the foreign tax rate differential caption of the rate reconciliation. The effective tax rate for 2017 was 14.7 percent on the overall loss from continued operations and is primarily driven by the provisional impacts of the Tax Act. In addition to the impact of the Tax Act, the overall effective tax rate is impacted by the jurisdictional income (loss) and varying respective statutory rates which is reflected in the foreign tax rate differential caption of the rate reconciliation. The Company recognizes the benefit of tax positions taken or expected to be taken in its tax returns in the consolidated financial statements when it is more likely than not that the position will be sustained upon examination by authorities. Recognized tax positions are measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon settlement. Details of the unrecognized tax benefits are as follows: 2018 2017 Balance at January 1 $ 48.4 $ 43.2 Increases (decreases) related to prior year tax positions, net (1.5 ) 6.1 Increases related to current year tax positions 4.8 7.5 Settlements (1.5 ) (1.8 ) Reductions due to lapse of applicable statute of limitations (0.7 ) (6.6 ) Balance at December 31 $ 49.5 $ 48.4 The entire amount of unrecognized tax benefits, if recognized, would affect the Company’s effective tax rate. The Company classifies interest expense and penalties related to the underpayment of income taxes in the consolidated financial statements as income tax expense. Consistent with the treatment of interest expense, the Company accrues interest income on overpayments of income taxes where applicable and classifies interest income as a reduction of income tax expense in the consolidated financial statements. As of December 31, 2018 and 2017 , accrued interest and penalties related to unrecognized tax benefits totaled $6.3 and $5.5 , respectively. It is reasonably possible that the total amount of unrecognized tax benefits will change during the next 12 months. The Company does not expect those changes to have a significant impact on its consolidated financial statements. The expected timing of payments cannot be determined with any degree of certainty. During 2018, the Internal Revenue Service (IRS) issued the final Revenue Agent’s Report (RAR) for the tax year 2013 for the Company’s U.S. federal income tax return. The Company agreed to a draft RAR in 2017, effectively settling the findings and accruing all amounts. At December 31, 2018, the Company is under audit by the IRS for the tax year ended December 31, 2016. The Company believes it has adequately provided for any related uncertain tax positions. There are no other outstanding audits by the IRS and all U.S. federal tax years prior to 2014 are closed by statute. The company is subject to tax examination in various U.S. state jurisdictions for tax years 2012 to the present, as well as various foreign jurisdictions for tax years 2011 to the present. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities at December 31 are as follows: 2018 2017 Deferred tax assets Accrued expenses $ 64.0 $ 43.0 Warranty accrual 6.7 13.5 Deferred compensation 9.6 10.6 Allowances for doubtful accounts 3.2 3.8 Inventories 23.9 14.4 Deferred revenue 28.6 38.1 Pensions, post-retirement and other benefits 76.9 82.6 Tax credits 74.1 81.9 Net operating loss carryforwards (NOL's) 160.0 125.9 Capital loss carryforwards 2.6 2.6 State deferred taxes 19.8 17.4 Other — 0.8 469.4 434.6 Valuation allowances (175.4 ) (105.6 ) Net deferred tax assets $ 294.0 $ 329.0 Deferred tax liabilities Property, plant and equipment, net $ 3.5 $ 1.2 Goodwill and intangible assets 245.9 302.8 Undistributed earnings 20.6 16.0 Other 1.7 2.3 Net deferred tax liabilities 271.7 322.3 Net deferred tax asset $ 22.3 $ 6.7 Deferred income taxes reported in the consolidated balance sheets as of December 31 are as follows: 2018 2017 Deferred income taxes - assets $ 243.9 $ 293.8 Deferred income taxes - liabilities (221.6 ) (287.1 ) Net deferred tax asset $ 22.3 $ 6.7 As of December 31, 2018 , the Company had domestic and international NOLs of $964.8 , resulting in an NOL deferred tax asset of $160.0 . Of these NOL carryforwards, $647.2 expire at various times between 2019 and 2039 and $317.6 does not expire. At December 31, 2018 , the Company had a domestic foreign tax credit carryforward resulting in a deferred tax asset of $68.4 that will expire between 2020 and 2029 and a general business credit carryforward resulting in a deferred tax asset of $5.7 that will expire between 2035 and 2039. The Company recorded a valuation allowance to reflect the estimated amount of certain foreign and state deferred tax assets that, more likely than not, will not be realized. The net change in total valuation allowance for the years ended December 31, 2018 and 2017 was an increase of $69.8 and $17.8 , respectively. The 2018 valuation allowance increase is driven primarily by current year domestic interest expense in which a full valuation allowance has been placed, domestic foreign tax credits scheduled to expire as well as certain foreign jurisdictions which are now in a three year cumulative loss position. For the years ended December 31, 2018 and 2017 , provisions were made for foreign withholding taxes and estimated foreign income taxes which may be incurred upon the remittance of certain undistributed earnings in foreign subsidiaries and foreign unconsolidated affiliates. Provisions have not been made for income taxes on $865.4 of undistributed earnings at December 31, 2018 in foreign subsidiaries and corporate joint ventures that were deemed permanently reinvested. Determination of the amount of unrecognized deferred income tax liabilities on these earnings is not practicable because such liability, if any, depends on certain circumstances existing if and when remittance occurs. A deferred tax liability will be recognized if and when the Company no longer plans to permanently reinvest these undistributed earnings. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2018 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | INVENTORIES The following table summarizes the major classes of inventories as of December 31: 2018 2017 Finished goods $ 211.2 $ 291.0 Service parts 221.6 259.4 Raw materials and work in process 177.3 164.1 Total inventories $ 610.1 $ 714.5 During 2018, the Company re-assessed its inventory and recorded a charge of $74.5 of various finished goods, service parts, and excess and obsolete inventory due to streamlining the Company's product portfolio and optimizing the manufacturing footprint. For December 31, 2017, the Company corrected an immaterial error of $10.9 , $11.2 and $0.4 for finished goods, service parts, and raw materials and work in process, respectively, refer to note 1 for additional details. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT The following is a summary of property, plant and equipment, at cost less accumulated depreciation and amortization as of December 31: Estimated Useful Life 2018 2017 Land and land improvements (1) $ 15.6 $ 16.0 Buildings and building improvements 15-30 122.2 112.9 Machinery, tools and equipment 5-12 99.6 108.2 Leasehold improvements (2) 10 26.9 28.3 Computer equipment 3 174.5 153.8 Computer software 5-10 142.9 146.6 Furniture and fixtures 5-8 70.3 73.4 Tooling 3-5 140.9 136.4 Construction in progress 5.3 7.7 Total property plant and equipment, at cost $ 798.2 $ 783.3 Less accumulated depreciation and amortization 494.1 418.8 Total property plant and equipment, net $ 304.1 $ 364.5 (1) Estimated useful life for land and land improvements is perpetual and 15 years, respectively. (2) The estimated useful life for leasehold improvements is the lesser of 10 years or the term of the lease. During 2018 , 2017 and 2016 , depreciation expense, computed on a straight-line basis over the estimated useful lives of the related assets, was $105.3 , $92.9 and $61.8 , respectively. The increase in computer equipment reflects the Company's investment in its IT infrastructure. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
INVESTMENTS | INVESTMENTS The Company’s investments, primarily in Brazil, consist of certificates of deposit that are classified as available-for-sale and stated at fair value based upon quoted market prices. Unrealized gains and losses are recorded in AOCI. Realized gains and losses are recognized in investment income and are determined using the specific identification method. There were no realized gains from the sale of securities or proceeds from the sale of available-for-sale securities for the years ended December 31, 2018 and 2017 . The Company has deferred compensation plans that enable certain employees to defer receipt of a portion of their cash, 401(k) or share-based compensation and non-employee directors to defer receipt of director fees at the participants’ discretion. For deferred cash-based compensation, the Company established rabbi trusts (refer to note 15), which are recorded at fair value of the underlying securities within securities and other investments. The related deferred compensation liability is recorded at fair value within other long-term liabilities. Realized and unrealized gains and losses on marketable securities in the rabbi trusts are recognized in interest income. The Company’s investments, respectively, consist of the following: Cost Basis Unrealized Gain Fair Value As of December 31, 2018 Short-term investments Certificates of deposit $ 33.5 $ — $ 33.5 Long-term investments Assets held in a rabbi trust $ 6.5 $ (0.2 ) $ 6.3 As of December 31, 2017 Short-term investments Certificates of deposit $ 81.4 $ — $ 81.4 Long-term investments: Assets held in a rabbi trust $ 8.3 $ 1.1 $ 9.4 Securities and other investments also included a cash surrender value of insurance contracts of $11.1 and $79.8 as of December 31, 2018 and 2017 , respectively. The decrease was primarily due to the monetization of the Company's investment in the company owned life insurance plans and utilization of short-term investments in Brazil for cash needs across the organization. In addition, it included an interest rate swap asset carrying value of $4.8 and $7.6 as of December 31, 2018 and 2017 , respectively, which also represented fair value (refer to note 18). The Company provides financing arrangements to customers purchasing its products. These financing arrangements are largely classified and accounted for as sales-type leases. The following table presents finance lease receivables sold by the Company for the years ended December 31: 2018 2017 2016 Finance lease receivables sold $ 11.1 $ — $ 7.4 The following table presents the components of finance lease receivables as of December 31: 2018 2017 Gross minimum lease receivable $ 39.0 $ 26.6 Allowance for credit losses (0.4 ) (0.3 ) Estimated unguaranteed residual values 0.4 1.1 39.0 27.4 Less: Unearned interest income (3.0 ) (1.0 ) Unearned residuals (0.1 ) (0.1 ) (3.1 ) (1.1 ) Total $ 35.9 $ 26.3 Future minimum payments due from customers under finance lease receivables as of December 31, 2018 are as follows: 2019 $ 10.8 2020 7.7 2021 6.7 2022 5.6 2023 4.9 Thereafter 3.3 $ 39.0 The Company's combined allowance for finance receivables and notes receivables was $0.3 and $4.4 for the years ended December 31, 2018 and 2017 , respectively, all resulted from individual impairment evaluation. As of December 31, 2018 , finance leases and notes receivables individually evaluated for impairment were $35.9 and $4.9 , respectively, were assessed with no provision recorded. As of December 31, 2017 , finance leases and notes receivables individually evaluated for impairment were $26.3 and $16.0 , respectively, were assessed with no provision recorded. The increase in finance lease receivables was related primarily to China while the decrease in notes receivable was related primarily to EMEA. The Company records interest income and any fees or costs related to financing receivables using the effective interest method over the term of the lease or loan. The Company reviews the aging of its financing receivables to determine past due and delinquent accounts. Credit quality is reviewed at inception and is re-evaluated as needed based on customer-specific circumstances. Receivable balances 60 days to 89 days past due are reviewed and may be placed on nonaccrual status based on customer-specific circumstances. Receivable balances are placed on nonaccrual status upon reaching greater than 89 days past due. Upon receipt of payment on nonaccrual financing receivables, interest income is recognized and accrual of interest is resumed once the account has been made current or the specific circumstances have been resolved. As of December 31, 2018 and 2017 , the recorded investment in past-due financing receivables was minimal and no recorded investment in finance receivables was past due 90 days or more and still accruing interest. The following table summarizes the Company’s allowances for doubtful accounts: 2018 2017 2016 Balance at January 1 $ 71.7 $ 50.4 $ 31.7 Charged to costs and expenses 22.8 54.9 22.9 Charged to other accounts (1) (4.1 ) 1.4 1.7 Deductions (2) (32.2 ) (35.0 ) (5.9 ) Balance at December 31 $ 58.2 $ 71.7 $ 50.4 (1) Net effects of foreign currency translation. (2) Uncollectible accounts written-off, net of recoverie |
Goodwill and Other Assets
Goodwill and Other Assets | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL AND OTHER ASSETS | GOODWILL AND OTHER ASSETS The Company’s three reportable operating segments are Eurasia Banking, Americas Banking and Retail. The Company has allocated goodwill to its Eurasia Banking, Americas Banking and Retail reportable operating segments. The changes in carrying amounts, including an immaterial error correction discussed in note 1, of goodwill within the Company's segments are summarized as follows: Eurasia Banking Americas Banking Retail Total Goodwill $ 592.2 $ 423.8 $ 273.0 $ 1,289.0 Accumulated impairment losses (168.7 ) (122.0 ) — (290.7 ) Balance at January 1, 2017 423.5 301.8 273.0 998.3 Goodwill acquired 2.2 1.8 1.6 5.6 Goodwill adjustment (1.2 ) (1.0 ) (0.7 ) (2.9 ) Currency translation adjustment 46.2 38.3 31.6 116.1 Goodwill 639.4 462.9 305.5 1,407.8 Accumulated impairment losses (168.7 ) (122.0 ) — (290.7 ) Balance at December 31, 2017 470.7 340.9 305.5 1,117.1 Transferred to assets held for sale (0.8 ) (0.3 ) (45.9 ) (47.0 ) Currency translation adjustment (10.0 ) (8.3 ) (7.2 ) (25.5 ) Goodwill 628.6 454.3 252.4 1,335.3 Impairment (153.0 ) — (64.5 ) (217.5 ) Accumulated impairment losses (321.7 ) (122.0 ) (64.5 ) (508.2 ) Balance at December 31, 2018 $ 306.9 $ 332.3 $ 187.9 $ 827.1 Goodwill. In the fourth quarter of 2018 in connection with the annual goodwill impairment test, the Company elected to assess goodwill for impairment based on a qualitative assessment, which resulted in a conclusion that no events or changes in circumstance resulted in a situation that would more likely than not reduce the carrying value of a reporting unit below its reported amount. Accordingly, no impairment resulted from the annual goodwill impairment test in any of the Company's reporting units. During the second quarter of 2018, the Company performed an impairment test of goodwill for all of its LoB reporting units due to the change in its reportable operating segments. Based on the results of the LoB testing, the fair values of each of the Company's reporting units exceed their carrying values except for the Services-AP and Software-EMEA reporting units which resulted in a non-cash impairment loss of $90.0 during the second quarter 2018. During the fourth quarter of 2018, the Company corrected an immaterial error related to the allocation of goodwill as discussed in Note 1, which decreased the second quarter non-cash impairment loss to $83.1 . The Company identified four reporting units, which are Eurasia Banking, Americas Banking, EMEA Retail and Rest of World Retail. Management determined that the Americas Banking and EMEA Retail reporting unit had a cushion of approximately 20 percent and 10 percent, respectively, when compared to their carrying amounts. The Eurasia Banking had minimal excess fair value or cushion when compared to their carrying amounts, but primarily due to the reporting unit's improved performance, it did not indicate any impairment during the qualitative annual goodwill impairment test. Rest of World Retail had no carrying value as of December 31, 2018. Changes in certain assumptions or the Company's failure to execute on the current plan could have a significant impact to the estimated fair value of the reporting units. During the second and third quarters 2018, the Company estimated the fair value of its reporting units using a combination of the income valuation and market approach methodologies. The determination of the fair value of a reporting unit requires significant estimates and assumptions, including significant unobservable inputs. The key inputs included, but were not limited to, discount rates, terminal growth rates, market multiple data from selected guideline public companies, management’s internal forecasts which include numerous assumptions such as projected net sales, gross profit, sales mix, operating and capital expenditures and earnings before interest and taxes margins, among others. As a result of certain impairment triggering events, the Company performed an interim impairment test of goodwill for its four reporting units during the third quarter of 2018. Based on the results of the impairment testing, the Company recorded a non-cash goodwill impairment loss of $109.3 related to the Eurasia Banking, EMEA Retail and Rest of World Retail reporting units during the third quarter of 2018. During the fourth quarter of 2018, the Company corrected an immaterial error related to the allocation of goodwill as discussed in Note 1, which increased the third quarter non-cash impairment loss for Eurasia Banking, reduced the non-cash impairment loss for Rest of World Retail and eliminated the non-cash impairment loss for the EMEA Retail reporting unit. This resulted in an additional $25.1 non-cash impairment loss for the third quarter of 2018 for a non-cash impairment loss of $134.4 for the three months ended September 30, 2018 which related to the Eurasia Banking and Rest of World Retail. For the nine months ended September 30, 2018 the Company recorded a $217.5 non-cash goodwill impairment loss. The Company reclassified $47.0 of goodwill based on relative fair value to assets held for sale in December 2018 related to certain non-core businesses in Europe and the Americas. During 2017, the $5.6 acquired goodwill from Moxx and Visio primarily related to anticipated synergies achieved through increased scale and higher utilization of the service organization. Other Assets. Other assets consists of net capitalized computer software development costs, patents, trademarks and other intangible assets. Where applicable, other assets are stated at cost and, if applicable, are amortized ratably over the relevant contract period or the estimated life of the assets. Fees to renew or extend the term of the Company’s intangible assets are expensed when incurred. During the fourth quarter of 2017, the Company recorded a $3.1 impairment charge related to redundant legacy Diebold internally-developed software and an indefinite-lived trade name in North America as a result of the Acquisition. The following summarizes information on intangible assets by major category: December 31, 2018 December 31, 2017 Weighted-average remaining useful lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships, net 6.7 years $ 712.2 $ (179.1 ) $ 533.1 $ 741.5 $ (108.2 ) $ 633.3 Internally-developed software 1.6 years 189.6 (118.9 ) 70.7 192.9 (99.8 ) 93.1 Development costs non-software 0.9 years 52.5 (44.3 ) 8.2 55.3 (35.1 ) 20.2 Other 0.7 years 79.5 (66.9 ) 12.6 84.5 (57.3 ) 27.2 Other intangible assets, net 321.6 (230.1 ) 91.5 332.7 (192.2 ) 140.5 Total $ 1,033.8 $ (409.2 ) $ 624.6 $ 1,074.2 $ (300.4 ) $ 773.8 The decrease in the gross carrying amount of intangible assets was due primarily to the impact of the euro. Amortization expense on capitalized software of $33.7 , $34.6 and $24.4 was included in cost of sales for 2018 , 2017 and 2016 , respectively. The Company's total amortization expense, including deferred financing costs, was $153.4 , $159.3 and $73.0 for the years ended December 31, 2018, 2017 and 2016, respectively. The increase from 2016 to 2017 related to the incremental amortization related to acquired intangibles in connection with the Acquisition. The expected annual amortization expense is as follows: Estimated amortization 2019 $ 128.0 2020 108.8 2021 96.2 2022 92.0 2023 88.6 $ 513.6 |
Guarantees and Product Warranti
Guarantees and Product Warranties | 12 Months Ended |
Dec. 31, 2018 | |
Guarantees and Product Warranties [Abstract] | |
GUARANTEES AND PRODUCT WARRANTIES | GUARANTEES AND PRODUCT WARRANTIES The Company provides its global operations guarantees and standby letters of credit through various financial institutions to suppliers, customers, regulatory agencies and insurance providers. If the Company is not able to make payment, the suppliers, customers, regulatory agencies and insurance providers may draw on the pertinent bank. At December 31, 2018 , the maximum future contractual obligations relative to these various guarantees totaled $135.2 , of which $27.5 represented standby letters of credit to insurance providers, and no associated liability was recorded. At December 31, 2017 , the maximum future payment obligations relative to these various guarantees totaled $195.1 , of which $28.0 represented standby letters of credit to insurance providers, and no associated liability was recorded. The Company provides its customers a standard manufacturer’s warranty and records, at the time of the sale, a corresponding estimated liability for potential warranty costs. Estimated future obligations due to warranty claims are based upon historical factors such as labor rates, average repair time, travel time, number of service calls per machine and cost of replacement parts. The decrease was primarily due to warranties expiring in Brazil and Germany. Changes in the Company’s warranty liability balance are illustrated in the following table: 2018 2017 Balance at January 1 $ 76.7 $ 101.6 Current period accruals 22.5 36.0 Current period settlements (52.3 ) (65.2 ) Currency translation (6.8 ) 4.3 Balance at December 31 $ 40.1 $ 76.7 |
Restructuring
Restructuring | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
RESTRUCTURING AND OTHER CHARGES | RESTRUCTURING The following table summarizes the impact of the Company’s restructuring charges on the consolidated statements of operations for the years ended December 31: 2018 2017 2016 Cost of sales - services $ 17.8 $ 27.3 $ 18.4 Cost of sales - products 10.8 1.9 7.1 Selling and administrative expense 33.4 21.3 28.8 Research, development and engineering expense 3.0 (1.1 ) 5.1 Total $ 65.0 $ 49.4 $ 59.4 The following table summarizes the Company’s restructuring charges by reporting segment for the years ended December 31: 2018 2017 2016 Severance Eurasia Banking $ 37.1 $ 24.6 $ 33.2 Americas Banking 8.9 4.2 13.8 Retail 13.3 14.8 0.7 Corporate 5.7 5.8 11.7 Total $ 65.0 $ 49.4 $ 59.4 DN Now During the second quarter of 2018, the Company began implementing DN Now to deliver greater, more sustainable profitability. The plan is anticipating savings of approximately $160 for 2019, of which $130 is related to the restructuring actions in connection with the new customer centric operating model with clear role charters and a global workforce aligned with market demand and the remainder is related to other initiatives. Additional near term activities include divesting of non-core and/or non-accretive businesses, initiating a services modernization plan and rationalizing of the Company's product portfolio. The Company incurred restructuring charges of $58.9 for the year ended December 31, 2018 related to DN Now. The Company anticipates additional restructuring costs of approximately $175 to $200 through the end of the plan primarily related to severance anticipated for completion of the Company's transformation throughout the three solution segments and corporate. Completed Plans DN2020 Plan. As of August 15, 2016, the date of the Acquisition, the Company launched a multi-year integration and transformation program, known as DN2020. The Company incurred restructuring charges primarily related to severance of $6.0 , $47.0 and $42.8 for the years ended December 31, 2018 , 2017 and 2016, respectively, related to this plan. Strategic Alliance Plan. On November 10, 2016, the Company entered into a strategic alliance with the Inspur Group, a Chinese cloud computing and data center company, to develop, manufacture and distribute Systems solutions in China. The Company incurred restructuring charges of $0.1 , $2.4 and $5.7 for the years ended December 31, 2018 , 2017 and 2016, respectively, related to this plan. Delta Program. At the beginning of the 2015, Diebold Nixdorf AG initiated the Delta Program related to restructuring and realignment. As of August 15, 2016, the date of the acquisition of Diebold Nixdorf AG, the restructuring accrual balance acquired was $45.5 and consisted of severance activities. During the third quarter of 2017, the Company recorded a measurement period adjustment of $8.2 to the acquired restructuring accrual resulting in a $37.3 final fair value. The Company incurred restructuring charges of $3.2 for the year ended December 31, 2016 related to this plan. Multi-Year Transformation Plan. During the first quarter of 2013, the Company announced a multi-year transformation plan. Restructuring charges of $7.7 were incurred for the year ended December 31, 2016 . The multi-year transformation plan incurred cumulative total restructuring costs of $105.0 and $3.5 related to severance and other costs, respectively, and was considered complete as of December 31, 2016 . The following table summarizes the Company's cumulative total restructuring costs from continuing operations as of December 31, 2018 for the respective plans: Severance DN Now DN2020 Plan Delta Program Strategic Alliance Total Eurasia Banking $ 33.3 $ 51.5 $ 0.5 $ 8.2 $ 93.5 Americas Banking 8.6 13.6 0.2 — 22.4 Retail 12.5 15.6 0.7 — 28.8 Corporate 4.5 15.1 1.8 — 21.4 Total $ 58.9 $ 95.8 $ 3.2 $ 8.2 $ 166.1 The following table summarizes the Company’s restructuring accrual balances and related activity: Balance at January 1, 2016 $ 4.7 Liabilities incurred 59.4 Liabilities acquired 45.5 Liabilities paid/settled (19.7 ) Balance at December 31, 2016 $ 89.9 Liabilities incurred 49.4 Liabilities acquired (8.2 ) Liabilities paid/settled (77.1 ) Balance at December 31, 2017 $ 54.0 Liabilities incurred 65.0 Liabilities paid/settled (62.1 ) Balance at December 31, 2018 $ 56.9 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
DEBT | DEBT Outstanding debt balances were as follows: December 31, 2018 2017 Notes payable – current Uncommitted lines of credit $ 20.9 $ 16.2 Term Loan A Facility — 23.0 Delayed Draw Term Loan A Facility — 17.2 Term Loan A-1 Facility 16.3 — Term Loan B Facility - USD 4.8 4.8 Term Loan B Facility - Euro 4.8 5.0 Other 2.7 0.5 $ 49.5 $ 66.7 Long-term debt Revolving credit facility $ 125.0 $ 75.0 Term Loan A Facility 126.3 178.3 Delayed Draw Term Loan A Facility 160.5 226.6 Term Loan A-1 Facility 625.6 — Term Loan B Facility - USD 413.2 466.7 Term Loan B Facility - Euro 411.9 489.5 2024 Senior Notes 400.0 400.0 Other 2.4 1.4 2,264.9 1,837.5 Long-term deferred financing fees (74.9 ) (50.4 ) $ 2,190.0 $ 1,787.1 As of December 31, 2018 , the Company had various international, short-term uncommitted lines of credit with borrowing limits of $48.9 . The weighted-average interest rate on outstanding borrowings on the short-term uncommitted lines of credit as of December 31, 2018 and 2017 was 8.80 percent and 9.17 percent , respectively. Short-term uncommitted lines mature in less than one year. The amount available under the short-term uncommitted lines at December 31, 2018 was $28.0 . The cash flows related to debt borrowings and repayments were as follows: December 31, 2018 2017 Revolving debt borrowings (repayments), net $ 50.0 $ 75.0 Proceeds from Delayed Draw Term Loan A Facility $ — $ 250.0 Proceeds from Term Loan A-1 Facility under the Credit Agreement 650.0 — Proceeds from Term Loan B Facility - Euro — 73.3 International short-term uncommitted lines of credit borrowings 75.9 50.8 Other debt borrowings $ 725.9 $ 374.1 Payments on Term Loan A Facility $ (75.0 ) $ (17.3 ) Payments on Delayed Draw Term Loan A Facility (83.2 ) (6.3 ) Payments on Term Loan A-1 Facility under the Credit Agreement (8.1 ) — Payments on Term Loan B Facility - USD (53.0 ) (326.1 ) Payments on Term Loan B Facility - Euro (55.6 ) (4.6 ) Payments on European Investment Bank — (63.1 ) International short-term uncommitted lines of credit and other repayments (62.8 ) (41.4 ) Other debt repayments $ (337.7 ) $ (458.8 ) The Company had a revolving and term loan credit agreement (the Credit Agreement), with a revolving facility of up to $500.0 (the Revolving Facility) as of December 31, 2018 . On December 23, 2020, the Term Loan A Facility will mature and the Revolving Facility will automatically terminate. The weighted-average interest rate on outstanding revolving credit facility borrowings as of December 31, 2018 and December 31, 2017 was 5.97 percent and 3.63 percent , respectively, which is variable based on the London Interbank Offered Rate (LIBOR). The amount available under the revolving credit facility as of December 31, 2018 was $347.5 , after excluding $27.5 in letters of credit. On May 9, 2017, the Company entered into an incremental amendment to its Credit Agreement (the Incremental Agreement) which reduced the initial term loan B facility (the Term Loan B Facility) of a $1,000.0 USD-denominated tranche to $475.0 . The reduction was funded using the $250.0 proceeds drawn from the Delayed Draw Term Loan A Facility, a replacement of $70.0 with Term Loan B Facility - Euro and previous principal payments. The Incremental Amendment also renewed the repricing premium of 1.00 percent in relation to the Term Loan B Facility to the date that is six months after the Incremental Effective Date, removed the requirements to prepay the repriced Dollar Term Loan and the repriced Euro Term Loan upon any asset sale or casualty event if the Company is below a total net leverage ratio of 2.5 : 1.0 on a pro forma basis for such asset sale or casualty event and provides additional restricted payments and investment carveouts in regards to assets acquired with the Acquisition. All other material provisions under the Credit Agreement were unchanged. On August 30, 2018, the Company entered into a sixth amendment and incremental amendment (the Sixth Amendment) to its Credit Agreement, which amended the financial covenants and established a new senior secured incremental term A-1 facility in an aggregate principal amount of $650.0 (Term Loan A-1 Facility) and made certain other changes to the Credit Agreement. A portion of the proceeds of the Term Loan A-1 Facility are restricted to fund the purchase of the remaining shares of Diebold Nixdorf AG not owned by the Company. The proceeds were used to make optional prepayments of existing term A loans in the amount of $130.0 and to permanently reduce revolving credit commitments in an amount of $20.0 and to make a purchase pursuant to an offer open to all term B lenders on a pro rata basis for $100.0 in face principal amount of term B loans. Any remaining proceeds were used for general corporate and working capital purposes. The interest rate with respect to the Term Loan A-1 Facility is based on, at the Company's option, either the alternative base rate (ABR) plus 8.25 percent or a eurocurrency rate plus 9.25 percent. The Term Loan A-1 Facility will mature in August 2022, the fourth Anniversary of the Sixth Amendment. The Term Loan A-1 Facility is subject to a maximum consolidated net leverage ratio, a minimum consolidated interest coverage ratio and certain covenant reset triggers (Covenant Reset Triggers) as described in the Sixth Amendment. Upon the occurrence of any Covenant Reset Trigger, the financial covenant levels will automatically revert to the previous financial covenant levels in effect prior to the Sixth Amendment. The Credit Agreement financial ratios at December 31, 2018 were as follows: • a maximum allowable total net debt to adjusted EBITDA leverage ratio of 7.00 to 1.00 as of December 31, 2018 (reducing to 6.50 on June 30, 2020, 6.25 on December 31, 2020, 6.00 on June 30, 2021, and 5.75 on December 31, 2021); and • a minimum adjusted EBITDA to net interest expense coverage ratio of not less than 1.38 to 1.00 (increasing to 1.50 on December 31, 2020, and 1.63 on December 31, 2021). The Company has senior notes due in 2024 (2024 Senior Notes) in the aggregate principal amount of $400.0 . The 2024 Senior Notes are and will be guaranteed by certain of the Company’s existing and future domestic subsidiaries. The Company incurred $39.4 and $1.1 of fees in the years ended December 31, 2018 and 2017 , respectively, related to the Credit Agreement, which are amortized as a component of interest expense over the terms. Below is a summary of financing and replacement facilities information: Financing and Replacement Facilities Interest Rate Index and Margin Maturity/Termination Dates Initial Term (Years) Credit Agreement facilities Revolving Facility LIBOR + 3.50% December 2020 5 Term Loan A Facility LIBOR + 3.50% December 2020 5 Delayed Draw Term Loan A Facility LIBOR + 3.50% December 2020 5 Term Loan A-1 Facility LIBOR + 9.25% August 2022 4 Term Loan B Facility - USD LIBOR (i) + 2.75% November 2023 7.5 Term Loan B Facility - Euro EURIBOR (ii) + 3.00% November 2023 7.5 2024 Senior Notes 8.5% April 2024 8 (i) LIBOR with a floor of 0.0 percent . (ii) EURIBOR with a floor of 0.0 percent . The debt facilities under the Credit Agreement are secured by substantially all assets of the Company and its domestic subsidiaries that are borrowers or guarantors under the Credit Agreement, subject to certain exceptions and permitted liens. Maturities of long-term debt as of December 31, 2018 are as follows: Maturities of 2019 $ 49.5 2020 438.2 2021 26.5 2022 603.3 Thereafter 1,196.9 $ 2,314.4 Interest expense on the Company’s debt instruments for the years ended December 31, 2018 , 2017 and 2016 was $127.1 , $102.7 and $85.7 , respectively. The Company’s financing agreements contain various restrictive financial covenants, including net debt to capitalization, net debt to EBITDA and net interest coverage ratios. Under the Sixth Amendment, the Term A-1 Facility is under a covenant holiday period until the earlier of any covenant reset trigger or April 1, 2019. As of December 31, 2018 , the Company was in compliance with the financial and other covenants in its debt agreements. |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interests (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Redeemable Noncontrolling Interests [Abstract] | |
Noncontrolling Interest Disclosure [Text Block] | REDEEMABLE NONCONTROLLING INTERESTS Changes in redeemable noncontrolling interests were as follows: 2018 2017 2016 Balance at January 1 $ 492.1 $ 44.1 $ — Purchase of noncontrolling interests — — 44.1 Other comprehensive income (19.3 ) 32.8 — Redemption value adjustment 2.8 32.0 — Redemption of shares (345.2 ) (3.5 ) — Reclassification of noncontrolling interest — 386.7 — Balance at December 31 $ 130.4 $ 492.1 $ 44.1 The Company entered into the DPLTA, which became effective on February 14, 2017, at which time, the carrying value of the noncontrolling interest related to the Diebold Nixdorf AG of $386.7 was reclassified to redeemable noncontrolling interest. For the period of time that the DPLTA is effective, this interest in Diebold Nixdorf AG will remain in redeemable noncontrolling interest and presented outside of equity in the consolidated balance sheets of the Company. As of December 31, 2018 and 2017, the balance related to the redeemable noncontrolling interest related to the Diebold Nixdorf AG ordinary shares the Company did not acquire was $99.1 and $454.6 , respectively. The change is primarily related to the redemption of 5.3 Diebold Nixdorf AG ordinary shares in the year ended December 31, 2018. The Company increased its ownership stake in Diebold Nixdorf AG to 28.2 ordinary shares, or approximately 94.7 percent , as of December 31, 2018. In January 2019, the Company increased its ownership stake in Diebold Nixdorf AG to over 95 percent, which resulted in initiating squeeze-out procedures to acquire the remaining outstanding shares. The DPLTA offers the Diebold Nixdorf AG minority shareholders, at their election, (i) the ability to put their Diebold Nixdorf AG ordinary shares to Diebold KGaA in exchange for cash compensation of €55.02 per Diebold Nixdorf AG ordinary share or (ii) to remain Diebold Nixdorf AG minority shareholders and receive a recurring compensation in cash of €2.82 per Diebold Nixdorf AG ordinary share for each full fiscal year of Diebold Nixdorf AG. The redemption value adjustment includes the updated cash compensation pursuant to the DPLTA. A portion of the proceeds of the Term Loan A-1 Facility are restricted to fund the purchase of the remaining shares of Diebold Nixdorf AG not owned by the Company and are included in restricted cash in the consolidated balance sheets. The remaining balance relates to certain noncontrolling interests in Europe, which have put right redemption features not in control of the Company that are included in redeemable noncontrolling interests. The results of operations for these redeemable noncontrolling interests were not significant. The ultimate amount and timing of any future cash payments related to the put rights are uncertain. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
ACCUMULATED OTHER COMPREHENSIVE LOSS | ACCUMULATED OTHER COMPREHENSIVE LOSS The following table summarizes the changes in the Company’s AOCI, net of tax, by component for the years ended December 31: Translation Foreign Currency Hedges Interest Rate Hedges Pension and Other Post-Retirement Benefits Other Accumulated Other Comprehensive Loss Balance at December 31, 2016 $ (251.2 ) $ (5.7 ) $ 4.6 $ (89.3 ) $ 0.3 $ (341.3 ) Other comprehensive income (loss) before reclassifications (1) 134.4 0.6 3.9 3.4 (0.2 ) 142.1 Amounts reclassified from AOCI — — (0.4 ) 3.3 — 2.9 Net current period other comprehensive income (loss) 134.4 0.6 3.5 6.7 (0.2 ) 145.0 Balance at December 31, 2017 $ (116.8 ) $ (5.1 ) $ 8.1 $ (82.6 ) $ 0.1 $ (196.3 ) Adoption of accounting standard (9.1 ) (1.0 ) 1.3 (20.2 ) — (29.0 ) Other comprehensive income (loss) before reclassifications (1) (65.6 ) 4.2 (1.4 ) (18.6 ) — (81.4 ) Amounts reclassified from AOCI — — 2.6 0.4 — 3.0 Net current period other comprehensive income (loss) (74.7 ) 3.2 2.5 (38.4 ) — (107.4 ) Balance at December 31, 2018 $ (191.5 ) $ (1.9 ) $ 10.6 $ (121.0 ) $ 0.1 $ (303.7 ) (1) Other comprehensive income (loss) before reclassifications within the translation component excludes (gains)/losses of $3.9 and $(5.9) and translation attributable to noncontrolling interests for December 31, 2018 and 2017 , respectively. The following table summarizes the details about amounts reclassified from AOCI for the years ended December 31: 2018 2017 Amount Reclassified from AOCI Amount Reclassified from AOCI Affected Line Item in the Statement of Operations Interest rate hedges (net of tax of $(0.6) and (0.1), respectively) $ 2.6 $ (0.4 ) Interest expense Pension and post-retirement benefits: Net actuarial losses recognized during the year (net of tax of $(1.1) and $(3.3), respectively) 4.8 2.2 (1) Net actuarial gains (losses) recognized due to settlement (net of tax of $(1.3) and $0.4, respectively) (3.5 ) (0.2 ) (1) Currency impact (net of tax of $(0.3) and $(1.9), respectively) (0.9 ) 1.3 (1) 0.4 3.3 Total reclassifications for the period $ 3.0 $ 2.9 (1) Pension and other post-retirement benefits AOCI components are included in the computation of net periodic benefit cost (refer to note 15 ). |
Acquisitions and Divestitures (
Acquisitions and Divestitures (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Divestitures [Abstract] | |
Acquisitions and Divestitures | ACQUISITIONS AND DIVESTITURES In the first quarter of 2018, the Company acquired the remaining portion of its noncontrolling interest in its China operations for $5.8 in the aggregate. During 2017, the Company acquired all the capital stock of Moxx and certain assets and liabilities of Visio for $5.6 in the aggregate, net of cash acquired, which are included in the Retail and Eurasia Banking segments, respectively. During the third quarter of 2017, the Company acquired Moxx, which is a Netherlands based managed services company that provides managed mobility solutions for enterprises that use a large number of mobile assets in their business operations. In the second quarter of 2017, the Company acquired Visio, which is a design company based in Germany. During 2017, the Company divested its legacy Diebold business in the U.K. to Cennox Group for $5.0 , fulfilling the requirements previously set forth by the U.K. Competition and Markets Authority. The divestiture closed on June 30, 2017. The legacy, independent Wincor Nixdorf U.K. and Ireland business will be completely integrated into the global Diebold Nixdorf operations and brand. As part of the Company's routine efforts to evaluate its business operations, during 2017, the Company agreed to sell its ES businesses located in Mexico and Chile to a wholly-owned subsidiary of Securitas AB and Avant, respectively. The Company recorded a pre-tax gain of $2.2 related to these transactions. The combined net sales of the divestitures represented less than one percent of total net sales of the Company for 2018, 2017 and 2016. In February 2016, the Company finalized its divestiture of its wholly-owned ES subsidiary located in the U.S. and Canada for an aggregate purchase price of $350.0 in cash, 10.0 percent of which was contingent based on the successful transition of certain customer relationships. The Company received payment and recorded a pre-tax gain of $239.5 on the ES divestiture, which was recognized during 2016. Cash flows provided or used by the NA ES business are presented as cash flows from discontinued operations for all of the periods presented. The results of operations, financial position and cash flows from the NA ES business were not included in the Company's financial statements from the closing date. The following summarizes select financial information included in income from discontinued operations, net of tax: For the year ended December 31, 2016 Net sales Services $ 16.3 Products 8.5 24.8 Cost of sales Services 15.1 Products 6.9 22.0 Gross profit 2.8 Selling and administrative expense 4.8 Loss from discontinued operations before taxes (2.0 ) Income tax benefit (0.7 ) (1.3 ) Gain on sale of discontinued operations before taxes 239.5 Income tax expense 94.5 Gain on sale of discontinued operations, net of tax 145.0 Income from discontinued operations, net of tax $ 143.7 |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |
BENEFIT PLANS | BENEFIT PLANS Qualified Retirement Benefits. The Company has qualified retirement plans covering certain U.S. employees that have been closed to new participants since 2003 and frozen since December 2013. Plans that cover salaried employees provide retirement benefits based on the employee’s compensation during the ten years before the date of the plan freeze or the date of their actual separation from service, if earlier. The Company’s funding policy for salaried plans is to contribute annually based on actuarial projections and applicable regulations. Plans covering hourly employees generally provide benefits of stated amounts for each year of service. The Company’s funding policy for hourly plans is to make at least the minimum annual contributions required by applicable regulations. The Company's non-U.S. benefit plans cover eligible employees located predominately in Germany, Switzerland, Belgium, the U.K. and France. Benefits for these plans are based primarily on each employee's final salary, with annual adjustments for inflation. The obligations in Germany consist of employer funded pension plans and deferred compensation plans. The employer funded pension plans are based upon direct performance-related commitments in terms of defined contribution plans. Each beneficiary receives, depending on individual pay-scale grouping, contractual classification, or income level, different yearly contributions. The contribution is multiplied by an age factor appropriate to the respective pension plan and credited to the individual retirement account of the employee. The retirement accounts may be used up at retirement by either a one-time lump-sum payout or payments of up to ten years. In Switzerland, the post-employment benefit plan is required due to statutory provisions. The employees receive their pension payments as a function of contributions paid, a fixed interest rate and annuity factors. Insured events for these plans are primarily disability, death and reaching of retirement age. In the Netherlands, the Company recognized a curtailment gain of $4.6 in 2016 related to its Netherlands' SecurCash B.V. plan due to a restructuring and cessation of accruals in the plan as of December 31, 2016. A transfer to an industry-wide pension fund occurred in early 2017, which transferred $186.8 of obligations and assets and is included in the settlements caption in the following tables. Final settlement accounting for this plan took place and resulted in $0.4 of income for the year ended December 31, 2017. The Company has other defined benefit plans outside the U.S., which have not been mentioned here due to their insignificance. Supplemental Executive Retirement Benefits. The Company has non-qualified pension plans in the U.S. to provide supplemental retirement benefits to certain officers, which were also frozen since December 2013. Benefits are payable at retirement based upon a percentage of the participant’s compensation, as defined. Other Benefits. In addition to providing retirement benefits, the Company provides post-retirement healthcare and life insurance benefits (referred to as other benefits) for certain retired employees. Retired eligible employees in the U.S. may be entitled to these benefits based upon years of service with the Company, age at retirement and collective bargaining agreements. There are no plan assets and the Company funds the benefits as the claims are paid. The post-retirement benefit obligation was determined by application of the terms of medical and life insurance plans together with relevant actuarial assumptions and healthcare cost trend rates. The following tables set forth the change in benefit obligation, change in plan assets, funded status, consolidated balance sheet presentation and net periodic benefit cost for the Company’s defined benefit pension plans and other benefits at and for the years ended December 31: Retirement Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 2018 2017 Change in benefit obligation Benefit obligation at beginning of year $ 569.0 $ 554.5 $ 452.0 $ 546.9 $ 9.9 $ 10.8 Service cost 3.9 3.9 11.0 10.5 — — Interest cost 20.6 22.9 6.2 5.7 0.4 0.4 Actuarial (gain) loss (41.3 ) 17.9 (3.5 ) 7.5 (1.6 ) (0.5 ) Plan participant contributions — — 1.4 1.3 — — Benefits paid (30.0 ) (30.2 ) (17.3 ) (10.0 ) (0.8 ) (0.8 ) Plan amendments — — — (0.8 ) — — Special termination benefits — — — 0.1 — — Settlements — — (7.7 ) (191.4 ) — — Foreign currency impact — — (18.1 ) 59.2 — — Acquired benefit plans and other — — 2.5 23.0 7.4 — Benefit obligation at end of year 522.2 569.0 426.5 452.0 15.3 9.9 Change in plan assets Fair value of plan assets at beginning of year 378.7 351.7 359.5 482.9 — — Actual return on plan assets (20.3 ) 53.6 2.2 12.7 — — Employer contributions 17.6 3.6 16.9 1.3 0.8 0.8 Plan participant contributions — — 1.4 1.3 — — Benefits paid (30.0 ) (30.2 ) (17.3 ) (10.0 ) (0.8 ) (0.8 ) Foreign currency impact — — (14.4 ) 51.7 — — Acquired benefit plans and other — — 0.3 11.0 — — Settlements — — (7.7 ) (191.4 ) — — Fair value of plan assets at end of year 346.0 378.7 340.9 359.5 — — Funded status $ (176.2 ) $ (190.3 ) $ (85.6 ) $ (92.5 ) $ (15.3 ) $ (9.9 ) Amounts recognized in balance sheets Noncurrent assets $ — $ 0.3 $ — $ 6.9 $ — $ — Current liabilities 3.4 3.5 3.2 3.2 1.1 1.1 Noncurrent liabilities (1) 172.7 187.1 82.4 96.2 14.2 8.8 Accumulated other comprehensive loss: Unrecognized net actuarial gain (loss) (2) (151.3 ) (154.4 ) 19.0 27.7 (6.3 ) (0.5 ) Unrecognized prior service benefit (cost) (2) — — 0.7 0.8 — — Net amount recognized $ 24.8 $ 35.9 $ 105.3 $ 121.0 $ 9.0 $ 9.4 (1) Included in the consolidated balance sheets in pensions, post-retirement and other benefits. (2) Represents amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost. Retirement Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 2018 2017 Change in accumulated other comprehensive loss Balance at beginning of year $ (154.4 ) $ (170.1 ) $ 28.5 $ 27.7 $ (0.5 ) $ (1.1 ) Prior service cost occurring during the year — — — 0.9 — — Net actuarial losses recognized during the year 6.6 5.9 (0.7 ) (0.4 ) — — Net actuarial gains (losses) occurring during the year (3.6 ) 9.8 (4.9 ) 0.7 1.6 0.6 Net actuarial losses recognized due to settlement — — (2.2 ) (0.6 ) — — Acquired benefit plans and other — — (0.3 ) (3.0 ) (7.4 ) — Foreign currency impact — — (0.6 ) 3.2 — — Balance at end of year $ (151.4 ) $ (154.4 ) $ 19.8 $ 28.5 $ (6.3 ) $ (0.5 ) Retirement Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2016 2018 2017 2016 2018 2017 2016 Components of net periodic benefit cost Service cost $ 3.9 $ 3.9 $ 3.5 $ 11.0 $ 10.5 $ 5.5 $ — $ — $ — Interest cost 20.6 22.9 24.7 6.2 5.7 2.7 0.4 0.4 0.5 Expected return on plan assets (24.6 ) (25.9 ) (27.0 ) (10.5 ) (4.5 ) (3.5 ) — — — Recognized net actuarial loss 6.6 5.9 5.5 (0.7 ) (0.4 ) — — — 0.2 Curtailment (gain) loss — — — — 0.1 (4.6 ) — — — Settlement gain — — — (2.2 ) (0.6 ) — — — — Net periodic benefit cost $ 6.5 $ 6.8 $ 6.7 $ 3.8 $ 10.8 $ 0.1 $ 0.4 $ 0.4 $ 0.7 The following table represents information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31: U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 Projected benefit obligation $ 522.2 $ 569.0 $ 426.5 $ 452.0 Accumulated benefit obligation $ 522.2 $ 569.0 $ 409.7 $ 439.5 Fair value of plan assets $ 346.0 $ 378.7 $ 340.9 $ 359.5 The following table represents the weighted-average assumptions used to determine benefit obligations at December 31: Pension Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 2018 2017 Discount rate 4.34 % 3.71 % 1.60 % 1.45 % 4.34 % 3.71 % Rate of compensation increase N/A N/A 2.82 % 2.75 % N/A N/A The following table represents the weighted-average assumptions used to determine periodic benefit cost at December 31: Pension Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 2018 2017 Discount rate 3.71 % 4.24 % 1.45 % 1.47 % 3.71 % 4.24 % Expected long-term return on plan assets 6.80 % 7.40 % 2.97 % 1.34 % N/A N/A Rate of compensation increase N/A N/A 2.75 % 2.76 % N/A N/A The discount rate is determined by analyzing the average return of high-quality (i.e., AA-rated) fixed-income investments and the year-over-year comparison of certain widely used benchmark indices as of the measurement date. The expected long-term rate of return on plan assets is primarily determined using the plan’s current asset allocation and its expected rates of return. The Company also considers information provided by its investment consultant, a survey of other companies using a December 31 measurement date and the Company’s historical asset performance in determining the expected long-term rate of return. The rate of compensation increase assumptions reflects the Company’s long-term actual experience and future and near-term outlook. During 2017, the Society of Actuaries released new mortality improvement projection scale (MP-2017) resulting from recent studies measuring mortality rates for various groups of individuals. As of December 31, 2017, the Company adopted for the pension plan in the U.S. the use of the RP-2014 base mortality table modified to remove the post-2006 projections using the MP-2014 mortality improvement scale and replacing it with projections using the fully generational MP-2017 projection scale. For the plans outside the U.S., the mortality tables used are those either required or customary for local accounting and/or funding purposes. The following table represents assumed healthcare cost trend rates at December 31: 2018 2017 Healthcare cost trend rate assumed for next year 6.5 % 6.8 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.0 % 5.0 % Year that rate reaches ultimate trend rate 2025 2025 The healthcare trend rates for the postemployment benefits plans in the U.S. are reviewed based upon the results of actual claims experience. The Company used initial healthcare cost trends of 6.5 percent and 6.8 percent in 2018 and 2017 , respectively, with an ultimate trend rate of 5.0 percent reached in 2025. Assumed healthcare cost trend rates have a modest effect on the amounts reported for the healthcare plans. A one-percentage-point change in assumed healthcare cost trend rates results in a minimal impact to total service and interest cost and post-retirement benefit obligation. The Company has a pension investment policy in the U.S. designed to achieve an adequate funded status based on expected benefit payouts and to establish an asset allocation that will meet or exceed the return assumption while maintaining a prudent level of risk. The plans' target asset allocation adjusts based on the plan's funded status. As the funded status improves or declines, the debt security target allocation will increase and decrease, respectively. The Company utilizes the services of an outside consultant in performing asset / liability modeling, setting appropriate asset allocation targets along with selecting and monitoring professional investment managers. The U.S. plan assets are invested in equity and fixed income securities, alternative assets and cash. Within the equities asset class, the investment policy provides for investments in a broad range of publicly-traded securities including both domestic and international stocks diversified by value, growth and cap size. Within the fixed income asset class, the investment policy provides for investments in a broad range of publicly-traded debt securities with a substantial portion allocated to a long duration strategy in order to partially offset interest rate risk relative to the plans’ liabilities. The alternative asset class includes investments in diversified strategies with a stable and proven track record and low correlation to the U.S. stock market. Several plans outside of the U.S. are also invested in various assets, under various investment policies in compliance with local funding regulations. In connection with the Acquisition, the Company also acquired plan assets that had been created in June 2006 as part of a Contractual Trust Arrangement (CTA), under which company assets have been irrevocably transferred to a registered association (Alme Pension Foundation) for the exclusive purpose of securing and funding pension and other postemployment benefits obligations to employees in Belgium, Germany, France and Switzerland. The association is investing in current and non-current assets, using a funding strategy that is reviewed on a regular basis by analyzing asset development as well as the current situation of the financial market. The following table summarizes the Company’s target allocation for these asset classes in 2019 , which are readjusted at least quarterly within a defined range for the U.S., and the Company’s actual pension plan asset allocation as of December 31, 2018 and 2017 : U.S. Plans Non-U.S. Plans Target Actual Target Actual 2019 2018 2017 2019 2018 2017 Equity securities 45% 44% 46% 40% 40% 24% Debt securities 40% 41% 40% 27% 27% 26% Real estate 5% 6% 5% 10% 10% 11% Other 10% 9% 9% 23% 23% 39% Total 100% 100% 100% 100% 100% 100% The following table summarizes the fair value categorized into a three level hierarchy, as discussed in note 1, based upon the assumptions (inputs) of the Company’s plan assets as of December 31, 2018 : U.S. Plans Non-U.S. Plans Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Cash and short-term investments $ 3.0 $ 3.0 $ — $ — $ 34.0 $ 34.0 $ — $ — Mutual funds 26.8 26.8 — — 125.2 125.2 — — Equity securities U.S. mid cap value — — — — 3.1 3.1 — — U.S. small cap core 17.2 17.2 — — 0.3 0.3 — — International developed markets 34.5 34.5 — — 7.7 7.7 — — Emerging markets 17.8 — 17.8 — 0.4 0.4 — — Fixed income securities U.S. corporate bonds 45.6 — 45.6 — — — — — International corporate bonds — — — — 76.8 1.3 75.5 — U.S. government 7.4 — 7.4 — — — — — Fixed and index funds 0.1 — 0.1 — 14.7 14.7 — — Common collective trusts Real estate (a) 20.8 — — 20.8 5.0 — 5.0 — Other (b) 145.6 — 145.6 — — — — — Alternative investments Multi-strategy hedge funds (c) 19.3 — — 19.3 — — — — Private equity funds (d) 7.9 — — 7.9 — — — — Other alternative investments (e) — — — — 73.7 — 1.9 71.8 Fair value of plan assets at end of year $ 346.0 $ 81.5 $ 216.5 $ 48.0 $ 340.9 $ 186.7 $ 82.4 $ 71.8 The following table summarizes the fair value of the Company’s plan assets as of December 31, 2017 : U.S. Plans Non-U.S. Plans Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Cash and short-term investments $ 3.5 $ 3.5 $ — $ — $ 82.5 $ 82.1 $ 0.4 $ — Mutual funds 32.0 32.0 — — 77.5 77.5 — — Equity securities U.S. mid cap value — — — — 0.7 0.7 — — U.S. small cap core 19.0 19.0 — — — — — — International developed markets 39.3 39.3 — — 11.2 11.2 — — Emerging markets 19.5 — 19.5 — — — — — Fixed income securities U.S. corporate bonds 50.0 — 50.0 — — — — — International corporate bonds — — — — 86.9 5.9 81.0 — U.S. government 7.7 — 7.7 — — — — — Fixed and index funds 0.6 — 0.6 — 11.7 7.4 4.3 — Common collective trusts Real estate (a) 19.2 — — 19.2 4.7 — 4.7 — Other (b) 159.9 — 159.9 — — — — — Alternative investments Multi-strategy hedge funds (c) 18.9 — — 18.9 1.6 — 1.6 — Private equity funds (d) 9.1 — — 9.1 — — — — Other alternative investments (e) — — — — 82.7 — 0.9 81.8 Fair value of plan assets at end of year $ 378.7 $ 93.8 $ 237.7 $ 47.2 $ 359.5 $ 184.8 $ 92.9 $ 81.8 (a) Real estate common collective trust. The objective of the real estate common collective trust (CCT) is to achieve long-term returns through investments in a broadly diversified portfolio of improved properties with stabilized occupancies. As of December 31, 2018 , investments in this CCT, for U.S. plans, included approximately 37 percent office, 23 percent residential, 26 percent retail and 14 percent industrial, cash and other. As of December 31, 2017 , investments in this CCT, for U.S. plans, included approximately 41 percent office, 21 percent residential, 27 percent retail and 11 percent industrial, cash and other. Investments in the real estate CCT can be redeemed once per quarter subject to available cash, with a 30-day notice . (b) Other common collective trusts. At December 31, 2018 , approximately 61 percent of the other CCTs are invested in fixed income securities including approximately 23 percent in mortgage-backed securities, 51 percent in corporate bonds and 26 percent in U.S. Treasury and other. Approximately 39 percent of the other CCTs at December 31, 2018 are invested in Russell 1000 Fund large cap index funds. At December 31, 2017 , approximately 59 percent of the other CCTs are invested in fixed-income securities including approximately 15 percent in mortgage-backed securities, 54 percent in corporate bonds and 31 percent in U.S. Treasury and other. Approximately 41 percent of the other CCTs at December 31, 2017 are invested in Russell 1000 Fund large cap index funds. Investments in fixed-income securities can be redeemed daily . (c) Multi-strategy hedge funds. The objective of the multi-strategy hedge funds is to diversify risks and reduce volatility. At December 31, 2018 and 2017 , investments in this class for U.S. plans include approximately 44 percent and 50 percent long/short equity, respectively, 54 percent and 45 percent arbitrage and event investments, respectively, and 2 percent and 5 percent in directional trading, fixed income and other, respectively. Investments in the multi-strategy hedge fund can be redeemed semi-annually with a 95-day notice . (d) Private equity funds. The objective of the private equity funds is to achieve long-term returns through investments in a diversified portfolio of private equity limited partnerships that offer a variety of investment strategies, targeting low volatility and low correlation to traditional asset classes. As of December 31, 2018 and 2017 , investments in these private equity funds include approximately 43 percent and 42 percent , respectively, in buyout private equity funds that usually invest in mature companies with established business plans, approximately 34 percent and 25 percent , respectively, in special situations private equity and debt funds that focus on niche investment strategies and approximately 23 percent and 33 percent respectively, in venture private equity funds that invest in early development or expansion of business. Investments in the private equity fund can be redeemed only with written consent from the general partner, which may or may not be granted. At December 31, 2018 and 2017 , the Company had unfunded commitments of underlying funds of $5.5 in both years. (e) Other alternative investments. Following the Acquisition, the Company’s plan assets were expanded with a combination of insurance contracts, multi-strategy investment funds and company-owned real estate. The fair value for these assets is determined based on the NAV as reported by the underlying investment manager, insurance companies and the trustees of the CTA. The following table summarizes the changes in fair value of level 3 assets for the years ended December 31: U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 Balance, January 1 $ 47.2 $ 47.4 $ 81.8 $ 230.6 Dispositions (2.8 ) (4.3 ) 4.9 (175.3 ) Realized and unrealized gain (loss), net 3.6 4.1 (14.9 ) 26.5 Balance, December 31 $ 48.0 $ 47.2 $ 71.8 $ 81.8 The following table represents the amortization amounts expected to be recognized during 2019 : U.S. Pension Benefits Non-U.S. Pension Benefits Other Benefits Amount of net loss (gain) $ 5.0 $ (1.5 ) $ — The Company contributed $34.5 to its retirement plans, including contributions to the nonqualified plan and benefits paid from company assets. In 2018, the Company received a reimbursement of $14.6 from the CTA assets to the Company for benefits paid directly from company assets, and $0.8 to its other post-retirement benefit plan during the year ended December 31, 2018 . The Company expects to contribute approximately $1 to its other post-retirement benefit plan and expects to contribute approximately $50 to its retirement plans, including the nonqualified plan, as well as benefits payments directly from the Company during the year ending December 31, 2019 . The Company anticipates reimbursement of approximately $13 for certain benefits paid from its trustee in 2019. The following benefit payments, which reflect expected future service, are expected to be paid: U.S. Pension Benefits Non-U.S. Pension Benefits Other Benefits Other Benefits 2019 $ 28.4 $ 30.8 $ 0.9 $ 0.8 2020 $ 29.1 $ 27.9 $ 0.9 $ 0.8 2021 $ 29.8 $ 27.9 $ 0.8 $ 0.8 2022 $ 30.4 $ 25.1 $ 0.8 $ 0.7 2023 $ 30.9 $ 31.7 $ 0.8 $ 0.7 2024-2028 $ 160.4 $ 132.9 $ 3.1 $ 2.8 Retirement Savings Plan. The Company offers employee 401(k) savings plans (Savings Plans) to encourage eligible employees to save on a regular basis by payroll deductions. The Company's basic match is 60 percent of the first 6 percent of a participant's qualified contributions, subject to IRS limits. The Company match is determined by the Board of Directors and evaluated at least annually. Total Company match was $10.3 , $8.2 and $8.3 for the years ended December 31, 2018 , 2017 and 2016 , respectively. In January 2019, the Company suspended its match to the Savings Plans. Deferred Compensation Plans. The Company has deferred compensation plans in the U.S. and Germany that enable certain employees to defer a portion of their cash wages, cash bonus, 401(k) or other compensation and non-employee directors to defer receipt of director fees at the participants’ discretion. For deferred cash-based compensation and 401(k), the Company established rabbi trusts in the U.S., which are recorded at fair value of the underlying securities within securities and other investments. The related deferred compensation liabilities are recorded at fair value within other long-term liabilities. Realized and unrealized gains and losses on marketable securities in the rabbi trusts are recognized in interest income with corresponding changes in the Company’s deferred compensation obligation recorded as compensation cost within selling and administrative expense. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2018 | |
Leases [Abstract] | |
LEASES | LEASES The Company’s future minimum lease payments due under non-cancellable operating leases for real estate, vehicles and other equipment at December 31, 2018 are as follows: Total Real Estate Vehicles and Equipment (a) 2019 $ 81.4 $ 50.0 $ 31.4 2020 57.6 33.8 23.8 2021 35.9 26.8 9.1 2022 22.9 19.6 3.3 2023 17.4 16.0 1.4 Thereafter 8.6 8.6 — $ 223.8 $ 154.8 $ 69.0 (a) The Company leases vehicles with contractual terms of 36 to 60 months that are cancellable after 12 months without penalty. Future minimum lease payments reflect only the minimum payments of the historical average holding period of these vehicles. Under lease agreements that contain escalating rent provisions, lease expense is recorded on a straight-line basis over the lease term. Rental expense under all lease agreements amounted to $123.2 , $125.4 and $84.3 for the years ended December 31, 2018 , 2017 and 2016 , respectively. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate and foreign exchange rate risk, through the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business or financing activities. The Company’s derivative foreign currency instruments are used to manage differences in the amount of the Company’s known or expected cash receipts and cash payments principally related to the Company’s non-functional currency assets and liabilities. The Company's interest rate derivatives are used to manage the differences in amount due to variable interest rate borrowings. The Company uses derivatives to mitigate the economic consequences associated with fluctuations in currencies and interest rates. The following table summarizes the gain (loss) recognized on derivative instruments: Derivative instrument Classification on consolidated statement of operations 2018 2017 2016 Non-designated hedges and interest rate swaps Interest expense $ (2.9 ) $ (4.3 ) $ (5.1 ) Foreign currency option contracts gain - acquisition related Miscellaneous, net — — 35.6 Foreign exchange forward contracts and cash flow hedges Net sales 2.4 — — Foreign exchange forward contracts and cash flow hedges Cost of Sales 0.6 — — Foreign exchange forward contracts and cash flow hedges Foreign exchange gain (loss), net (10.4 ) 6.3 4.4 Foreign exchange forward contracts - acquisition related Miscellaneous, net — — (26.4 ) Total $ (10.3 ) $ 2.0 $ 8.5 As a result of the adoption of ASU 2017-12 $2.4 and $0.6 was included in net sales and cost of sales, respectively for the year ended December 31, 2018, which would have been included in foreign exchange gain (loss), net in the prior period. FOREIGN EXCHANGE Net Investment Hedges. The Company has international subsidiaries with net balance sheet positions that generate cumulative translation adjustments within AOCI. The Company uses derivatives to manage potential changes in value of its net investments. The Company uses the forward-to-forward method for its quarterly measurement of ineffectiveness assessments of hedge effectiveness. No ineffectiveness results if the notional amount of the derivative matches the portion of the net investment designated as being hedged because the Company uses derivative instruments with underlying exchange rates consistent with its functional currency and the functional currency of the hedged net investment. Changes in value that are deemed effective are accumulated in AOCI where they will remain until they are reclassified to income together with the gain or loss on the entire investment upon substantial liquidation of the subsidiary. The fair value of the Company’s net investment hedge contracts were $0.0 and $2.0 as of December 31, 2018 and 2017 , respectively. The gain (loss) recognized in AOCI on net investment hedge derivative instruments was $9.1 and $(2.2) for the years ended December 31, 2018 and 2017 , respectively. On August 15, 2016, the Company designated its euro-denominated Term Loan B Facility as a net investment hedge of its investments in certain subsidiaries that use the euro as their functional currency in order to reduce volatility in stockholders' equity caused by the changes in foreign currency exchange rates of the euro with respect to the USD. Effectiveness is assessed at least quarterly by confirming that the respective designated net investments' net equity balances at the beginning of any period collectively continues to equal or exceed the balance outstanding on the Company's euro-denominated term loan. Changes in value that are deemed effective are accumulated in AOCI. When the respective net investments are sold or substantially liquidated, the balance of the cumulative translation adjustment in AOCI will be reclassified into earnings. The net gain (loss) recognized in AOCI on net investment hedge foreign currency borrowings was $4.9 and $(41.3) for the years ended December 31, 2018 and 2017 , respectively. On March 30, 2017, the Company de-designated €130.6 of its euro-denominated Term Loan B Facility and on May 9, 2017, the Company designated an additional €66.8 of its euro-denominated Term Loan B Facility as a result of its repricing described under note 11. On September 21, 2017, the Company de-designated €101.1 of its euro-denominated Term Loan B Facility. On June 21, 2018, the Company re-designated €30.2 of its euro-denominated Term Loan B Facility. On July 23, 2018, the Company de-designated €180.2 of its euro-denominated Term Loan B Facility. On October 1, 2018 the Company de-designated €29.2 of its euro-denominated Term Loan B Facility. Non-Designated Hedges. A substantial portion of the Company’s operations and revenues are international. As a result, changes in foreign exchange rates can create substantial foreign exchange gains and losses from the revaluation of non-functional currency monetary assets and liabilities. The Company’s policy allows the use of foreign exchange forward contracts with maturities of up to 24 months to mitigate the impact of currency fluctuations on those foreign currency asset and liability balances. The Company elected not to apply hedge accounting to its foreign exchange forward contracts. Thus, spot-based gains/losses offset revaluation gains/losses within foreign exchange loss, net and forward-based gains/losses represent interest expense or income. The fair value of the Company’s non-designated foreign exchange forward contracts was $0.5 and $(4.9) as of December 31, 2018 and 2017 , respectively. Cash Flow Hedges. The Company is exposed to fluctuations in various foreign currencies against its functional currency. At the Company, both sales and purchases are transacted in foreign currencies. Wincor Nixdorf International GmbH (WNI) is the Diebold Nixdorf AG currency management center. Currency risks in the aggregate are identified, quantified, and controlled at the WNI treasury center, and furthermore, it provides foreign currencies if necessary. The Diebold Nixdorf AG subsidiaries are primarily exposed to the GBP as the EUR is its functional currency. This risk is considerably reduced by natural hedging (i.e. management of sales and purchases by choice location and suppliers). For the remainder of the risk that is not naturally hedged, foreign currency forwards are used to manage the exposure between EUR-GBP. Derivative transactions are recorded on the balance sheet at fair value. For transactions designated as cash flow hedges, the effective portion of changes in the fair value are recorded in AOCI and are subsequently reclassified into earnings in the period that the hedged forecasted transactions impact earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. As of December 31, 2018 , the Company had the following outstanding foreign currency derivatives that were used to hedge its foreign exchange risks: Foreign Currency Derivative Number of Instruments Notional Sold Notional Purchased Currency forward agreements (EUR-GBP) 12 27.5 GBP 30.9 EUR INTEREST RATE Cash Flow Hedges. The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. During November 2016, the Company entered into multiple pay-fixed, receive-variable interest rate swaps with an aggregate notional amount of $400.0 . The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in AOCI and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. The fair value of the Company’s interest rate contracts was $10.1 and $9.8 as of December 31, 2018 and 2017 , respectively. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. The Company estimates that a minimal amount will be reclassified as a decrease to interest expense over the next year. The Company has an interest rate swap for a notional amount of €50.0 , which was entered into in May 2010 with a ten-year term from October 1, 2010 until September 30, 2020. This interest rate swap mitigated the interest rate risk associated with the European Investment Bank debt, which was paid in full during 2017. For this interest swap, the three-month EURIBOR is received and a fixed interest rate of 2.97 percent is paid. The fair value, which is measured at market prices, as of December 31, 2018 and 2017 , was $(3.6) and $(5.5) , respectively. The interest rate swap is not designated and changes in the fair value of non-designated interest rate swap agreements are recognized in Miscellaneous, net in the consolidated statements of operations. The Company recognized $1.9 and $1.4 in interest expense for the years ended December 31, 2018 and 2017, respectively. Additionally, the Company does not use derivatives for trading or speculative purposes and currently does not have any additional derivatives that are not designated as hedges. |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE OF ASSETS AND LIABILITIES | FAIR VALUE OF ASSETS AND LIABILITIES Assets and liabilities subject to fair value measurement by fair value level and recorded at fair value are as follows: Classification on consolidated balance sheets December 31, 2018 December 31, 2017 Level 1 Level 2 Level 1 Level 2 Assets Certificates of deposit Short-term investments $ 33.5 $ — $ 81.4 $ — Assets held in rabbi trusts Securities and other investments 6.3 — 9.4 — Foreign exchange forward contracts Other current assets — 3.4 — 6.7 Interest rate swaps Other current assets — 5.3 — 2.2 Interest rate swaps Securities and other investments — 4.8 — 7.6 Total $ 39.8 $ 13.5 $ 90.8 $ 16.5 Liabilities Foreign exchange forward contracts Other current liabilities $ — $ 3.1 $ — $ 10.2 Interest rate swaps Other current liabilities — 3.6 — 5.5 Deferred compensation Other liabilities 6.3 — 9.4 — Total $ 6.3 $ 6.7 $ 9.4 $ 15.7 The Company uses the end of the period when determining the timing of transfers between levels. During each of the years ended December 31, 2018 and 2017 , there were no transfers between levels. The carrying amount of the Company's debt instruments approximates fair value except for the 2024 Senior Notes. The fair value of the 2024 Senior Notes is summarized as follows: December 31, 2018 December 31, 2017 Fair Value Carrying Value Fair Value Carrying Value 2024 Senior Notes $ 242.0 $ 400.0 $ 425.0 $ 400.0 Refer to note 11 for further details surrounding the increase in long-term debt as of December 31, 2018 . Additionally, the Company remeasures certain assets to fair value, using Level 3 measurements, as a result of the occurrence of triggering events. In each of the second and third quarters of 2018, in connection with certain triggering events, the Company performed an impairment test of goodwill for all of its reporting units. See note 8 for further details. Besides goodwill from certain reporting units noted above, there were no significant assets or liabilities that were remeasured at fair value on a non-recurring basis during the period presented. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Contractual Obligations At December 31, 2018 , the Company had purchase commitments due within one year totaling $5.3 for materials and services through contract manufacturing agreements at negotiated prices. The amounts purchased under these obligations totaled $8.9 in 2018 . The Company guarantees a fixed cost of certain products used in production to its strategic partners. Variations in the products costs are absorbed by the Company. Indirect Tax Contingencies The Company accrues non-income-tax liabilities for indirect tax matters when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. In the event any losses are sustained in excess of accruals, they are charged against income. In evaluating indirect tax matters, management takes into consideration factors such as historical experience with matters of similar nature, specific facts and circumstances, and the likelihood of prevailing. Management evaluates and updates accruals as matters progress over time. It is reasonably possible that some of the matters for which accruals have not been established could be decided unfavorably to the Company and could require recognizing future expenditures. Also, statutes of limitations could expire without the Company paying the taxes for matters for which accruals have been established, which could result in the recognition of future gains upon reversal of these accruals at that time. At December 31, 2018 , the Company was a party to several routine indirect tax claims from various taxing authorities globally that were incurred in the normal course of business, which neither individually nor in the aggregate are considered material by management in relation to the Company’s financial position or results of operations. In management’s opinion, the consolidated financial statements would not be materially affected by the outcome of these indirect tax claims and/or proceedings or asserted claims. In addition to these routine indirect tax matters, the Company was a party to the proceedings described below: The Company has challenged multiple customs rulings in Thailand seeking to retroactively collect customs duties on previous imports of ATMs. In August 2017, the Supreme Court of Thailand ruled in the Company's favor in one of the matters, finding that Customs' attempt to collect duties for importation of ATMs was improper. The surviving matters remain at various stages of the appeals process and the Company will use the Supreme Court's decision in support of its position in those matters. Management remains confident that the Company has a valid legal position in these appeals. Accordingly, the Company does not have any amount accrued for this contingency. At December 31, 2017, the Company had an accrual related to the Brazil indirect tax of $4.9 , which related to allegations of improper importation of certain components into Brazil's free trade zone that would nullify certain indirect tax incentives. During 2018, the statute of limitations expired and the entire accrual was reversed. A loss contingency is reasonably possible if it has a more than remote but less than probable chance of occurring. Although management believes the Company has valid defenses with respect to its indirect tax positions, it is reasonably possible that a loss could occur in excess of the estimated accrual. The Company estimated the aggregate risk at December 31, 2018 to be up to $106.1 for its material indirect tax matters, of which $27.0 related to the Thailand customs matter disclosed above. The aggregate risk related to indirect taxes is adjusted as the applicable statutes of limitations expire. Legal Contingencies At December 31, 2018 , the Company was a party to several lawsuits that were incurred in the normal course of business, which neither individually nor in the aggregate were considered material by management in relation to the Company’s financial position or results of operations. In management’s opinion, the Company's consolidated financial statements would not be materially affected by the outcome of these legal proceedings, commitments or asserted claims. In addition to these normal course of business litigation matters, the Company was a party to the proceedings described below: Diebold KGaA is a party to appraisal proceedings (Spruchverfahren) relating to the DPLTA entered into by Diebold KGaA and Diebold Nixdorf AG on September 26, 2016, pending at the District Court (Landgericht) of Dortmund (Germany). The appraisal proceedings were filed by minority shareholders of Diebold Nixdorf AG challenging the adequacy of both the cash exit compensation of €55.02 per Diebold Nixdorf AG share and the annual recurring compensation of €2.82 per Diebold Nixdorf AG share offered in connection with the DPLTA. A ruling by the court would apply to all Diebold Nixdorf AG shares outstanding at the time the DPLTA became effective. While the Company believes that the compensation offered in connection with the DPLTA was fair and the claims lack merit, this matter is still at a preliminary stage and the outcome is uncertain. As a result, the Company is unable to reasonably estimate the possible loss or range of losses, if any, arising from this litigation. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | SEGMENT AND NET SALES INFORMATION The Company's accounting policies derive segment results that are the same as those the Chief Operating Decision Maker (CODM) regularly reviews and uses to make decisions, allocate resources and assess performance. The Company continually considers its operating structure and the information subject to regular review by its Chief Executive Officer, who is the CODM, to identify reportable operating segments. The Company’s operating structure is based on a number of factors that management uses to evaluate, view and run its business operations, which currently includes, but is not limited to, product, service and solution. The Company's previous reportable operating segments included the lines of business (LoB): Services, Systems, and Software. The Company began to reorganize its management team reporting to the CODM and assess its new operating model during the first half of 2018. The results of re-evaluating the LoB operating model highlighted the need to transform the Company’s operating model to Banking and Retail. The renewed focus on the customer experience has led the Company to reorganize its operating model. The LoBs will continue to develop solutions, but will operate as cost centers focused on designing and delivering innovative and customer-driven products. The realignment to Banking and Retail enables quicker decision making, reduces complexity, makes better use of talent and promotes the best possible experience for the Company’s customers. Beginning with the second quarter of 2018, the Company's reportable operating segments are based on the following solutions: Eurasia Banking, Americas Banking and Retail. As a result, the Company reclassified comparative periods for consistency. Segment revenue represents revenues from sales to external customers. Segment operating profit is defined as revenues less expenses identifiable to those segments. The Company does not allocate to its segments certain operating expenses, managed at the corporate level, that are not routinely used in the management of the segments, or information that is impractical to allocate. These unallocated costs include certain corporate costs, amortization of acquired intangible assets and deferred revenue, restructuring charges, impairment charges, legal, indemnification, and professional fees related to acquisition and divestiture expenses, along with other income (expenses). Segment operating profit reconciles to consolidated loss before income taxes by deducting corporate costs and other income or expense items that are not attributed to the segments. Corporate charges not allocated to segments include headquarter-based costs associated with procurement, human resources, compensation and benefits, finance and accounting, global development/engineering, global strategy/mergers and acquisitions, global IT, tax, treasury and legal. Assets are not allocated to segments, and thus are not included in the assessment of segment performance, and consequently, the Company does not disclose total assets and depreciation and amortization expense by reportable operating segment. The following tables represent information regarding the Company’s segment information and provides a reconciliation between segment operating profit and the consolidated loss from continuing operations before income taxes for the years ended December 31: 2018 2017 2016 Net sales summary by segment Eurasia Banking $ 1,800.2 $ 1,903.4 $ 1,232.6 Americas Banking 1,515.7 1,525.6 1,567.3 Retail 1,262.7 1,180.3 516.4 Total customer revenues $ 4,578.6 $ 4,609.3 $ 3,316.3 Intersegment revenues Eurasia Banking $ 161.1 $ 105.0 $ 63.5 Americas Banking 13.8 25.9 38.5 Retail — — — Total intersegment revenues $ 174.9 $ 130.9 $ 102.0 Segment operating profit Eurasia Banking $ 147.1 $ 126.8 $ 88.2 Americas Banking 27.6 68.1 101.8 Retail 50.3 87.9 34.0 Total segment operating profit $ 225.0 $ 282.8 $ 224.0 Corporate charges not allocated to segments (1) $ (62.7 ) $ (62.6 ) $ (69.3 ) Impairment of assets (217.5 ) (3.1 ) (9.8 ) Restructuring charges (65.0 ) (49.4 ) (59.4 ) Net non-routine expense (242.7 ) (261.2 ) (255.3 ) (587.9 ) (376.3 ) (393.8 ) Operating loss (362.9 ) (93.5 ) (169.8 ) Other expense (152.7 ) (98.4 ) (78.9 ) Loss from continuing operations before taxes $ (515.6 ) $ (191.9 ) $ (248.7 ) (1) Corporate charges not allocated to segments include headquarter-based costs associated with procurement, human resources, compensation and benefits, finance and accounting, global development/engineering, global strategy/mergers and acquisitions, global IT, tax, treasury and legal. Net non-routine expense consists of items that the Company has determined are non-routine in nature and not allocated to the reportable operating segments. Net non-routine expense of $242.7 for the year ended December 31, 2018 was primarily due to the inventory provision of $74.5 in cost of sales, acquisition integration expenses of $47.2 primarily within selling and administrative expense and purchase accounting pre-tax charges for amortization of acquired intangibles of $113.4 . Net non-routine expense of $261.2 for the year ended December 31, 2017 was primarily due to acquisition integration expenses of $72.1 primarily within selling and administrative expense and purchase accounting pre-tax charges for amortization of acquired intangibles of $160.9 . Net non-routine expense of $255.3 for the year ended December 31, 2016 was primarily due to the impact of purchase accounting adjustments of $128.6 primarily in cost of sales and legal, acquisition and divestiture related costs of $104.3 primarily within selling and administrative expense. The following table presents information regarding the Company’s segment net sales by service and product solution: 2018 2017 2016 Eurasia Banking Services $ 1,111.8 $ 1,133.1 $ 637.3 Products 688.4 770.3 595.3 Total Eurasia Banking 1,800.2 1,903.4 1,232.6 Americas Banking Services 1,025.8 1,043.9 1,068.1 Products 489.9 481.7 499.2 Total Americas Banking 1,515.7 1,525.6 1,567.3 Retail Services 651.9 608.3 202.6 Products 610.8 572.0 313.8 Total Retail 1,262.7 1,180.3 516.4 Total $ 4,578.6 $ 4,609.3 $ 3,316.3 The Company had no customers that accounted for more than 10 percent of total net sales in 2018 , 2017 and 2016 . Below is a summary of net sales by point of origin for the years ended December 31: 2018 2017 2016 Americas United States $ 1,047.7 $ 1,049.5 $ 1,093.6 Other Americas 556.7 556.3 568.7 Total Americas 1,604.4 1,605.8 1,662.3 EMEA Germany 876.2 843.0 329.4 Other EMEA 1,583.8 1,537.1 853.8 Total EMEA 2,460.0 2,380.1 1,183.2 AP Total AP 514.2 623.4 470.8 Total net sales $ 4,578.6 $ 4,609.3 $ 3,316.3 Below is a summary of property, plant and equipment, net by geographical location as of December 31: 2018 2017 2016 Property, plant and equipment, net United States $ 77.8 $ 91.7 $ 111.2 Germany 168.2 205.3 199.7 Other international 58.1 67.5 76.1 Total property, plant and equipment, net $ 304.1 $ 364.5 $ 387.0 In the following table, revenue is disaggregated by timing of revenue recognition at December 31: Timing of revenue recognition 2018 2017 Products transferred at a point in time 39% 40% Products and services transferred over time 61% 60% Net sales 100% 100% |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The following table presents selected unaudited quarterly financial information for the years ended December 31: First Quarter Second Quarter Third Quarter Fourth Quarter 2018 2017 2018 2017 2018 2017 2018 2017 Net sales $ 1,064.2 $ 1,102.8 $ 1,105.6 $ 1,133.9 $ 1,119.0 $ 1,122.7 $ 1,289.8 $ 1,249.9 Gross profit 238.4 239.8 217.7 237.1 227.0 236.8 207.8 286.1 Net loss (65.6 ) (54.5 ) (128.3 ) (24.1 ) (244.6 ) (32.6 ) (127.5 ) (102.7 ) Net income (loss) attributable to noncontrolling interests 7.6 6.6 5.1 7.0 (6.1 ) 6.6 (3.9 ) 7.4 Net loss attributable to Diebold Nixdorf, Incorporated $ (73.2 ) $ (61.1 ) $ (133.4 ) $ (31.1 ) $ (238.5 ) $ (39.2 ) $ (123.6 ) $ (110.1 ) Basic and diluted loss per share Net loss attributable to Diebold Nixdorf, Incorporated $ (0.97 ) $ (0.81 ) $ (1.76 ) $ (0.41 ) $ (3.13 ) $ (0.52 ) $ (1.62 ) $ (1.46 ) Basic and diluted weighted-average shares outstanding 75.8 75.3 76.0 75.5 76.1 75.5 76.1 75.5 During 2018, the Company recorded goodwill impairment charges (as adjusted) of $83.1 and $134.4 in the second and third quarters, respectively, which contributed to the increased net loss compared to the same periods in 2017. In addition to the goodwill impairments, interest expense increased related to higher average outstanding balances throughout the year. During 2018, the Company identified immaterial errors in prior periods for certain inventory balances, goodwill and various other items. Management determined that the correction of these errors were not material to each prior period. Refer to note 1 for further details on these adjustments. As a result of applying the correction retrospectively, previously reported balances within certain financial statement line items were increased (decreased) as follows: First Quarter Second Quarter Third Quarter Fourth Quarter 2018 2017 2018 2017 2018 2017 2017 Results of operations Cost of sales - Services $ 1.7 $ 2.3 $ 1.6 $ 0.4 $ 0.5 $ 2.8 $ 1.9 Cost of sales - Products $ 0.8 $ 0.4 $ 0.4 $ 0.3 $ 0.8 $ 0.4 $ 0.4 Impairment of assets $ — $ — $ (6.9 ) $ — $ 25.1 $ — $ — Income tax benefit $ (0.2 ) $ (0.4 ) $ (0.2 ) $ (0.2 ) $ (0.5 ) $ (0.4 ) $ (0.5 ) Net income (loss) attributable to Diebold Nixdorf, Incorporated $ (2.3 ) $ (2.4 ) $ 5.1 $ (0.4 ) $ (25.9 ) $ (3.8 ) $ (1.9 ) Basic and diluted earnings (loss) per common share $ (0.03 ) $ (0.03 ) $ 0.07 $ (0.01 ) $ (0.34 ) $ (0.05 ) $ (0.03 ) Consolidated balance sheet data Trade receivables, less allowances for doubtful accounts $ (2.3 ) $ (2.0 ) $ (2.3 ) $ (2.0 ) $ (2.3 ) $ (2.1 ) $ (2.2 ) Inventories $ (24.9 ) $ (16.3 ) $ (26.6 ) $ (16.7 ) $ (18.5 ) $ (20.5 ) $ (22.5 ) Other current assets $ (3.5 ) $ (2.7 ) $ (3.8 ) $ (3.1 ) $ (3.9 ) $ (3.4 ) $ (3.5 ) Goodwill $ — $ — $ 6.9 $ — $ (18.2 ) $ — $ — Deferred revenue $ (1.0 ) $ (1.0 ) $ (1.0 ) $ (1.0 ) $ (1.0 ) $ (1.0 ) $ (1.0 ) Other current liabilities $ (2.8 ) $ (1.8 ) $ (2.9 ) $ (2.1 ) $ (3.0 ) $ (2.5 ) $ (2.7 ) Redeemable noncontrolling interests $ 1.1 $ — $ 13.6 $ — $ 17.1 $ — $ — Total equity $ (28.0 ) $ (18.2 ) $ (35.5 ) $ (18.7 ) $ (56.0 ) $ (22.5 ) $ (24.5 ) |
Supplemental Guarantor Informat
Supplemental Guarantor Information (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Supplemental Guarantor Information [Abstract] | |
Condensed Financial Statements [Text Block] | SUPPLEMENTAL GUARANTOR INFORMATION The Company issued the 2024 Senior Notes in an offering exempt from the registration requirements of the Securities Act of 1933 in connection with the Acquisition. The 2024 Senior Notes are and will be guaranteed by certain of the Company's existing and future subsidiaries. The following presents the condensed consolidating financial information separately for: (i) Diebold Nixdorf, Incorporated (the Parent Company), the issuer of the guaranteed obligations; (ii) Guarantor subsidiaries, on a combined basis, as specified in the Indenture, as supplemented; (iii) Non-guarantor subsidiaries, on a combined basis; (iv) Consolidating entries and eliminations representing adjustments to (a) eliminate intercompany transactions between the Parent Company, the guarantor subsidiaries and the non-guarantor subsidiaries, (b) eliminate the investments in our subsidiaries, and (c) record consolidating entries; and (v) Diebold Nixdorf, Incorporated and subsidiaries on a consolidated basis. Each guarantor subsidiary is 100 percent owned by the Parent Company at the date of each balance sheet presented. The 2024 Senior Notes are fully and unconditionally guaranteed on a joint and several basis by each guarantor subsidiary. The guarantees of the guarantor subsidiaries are subject to release in limited circumstances only upon the occurrence of certain customary conditions. Each entity in the consolidating financial information follows the same accounting policies as described in the consolidated financial statements, except for the use by the Parent Company and the guarantor subsidiaries of the equity method of accounting to reflect ownership interests in subsidiaries which are eliminated upon consolidation. Changes in intercompany receivables and payables related to operations, such as intercompany sales or service charges, are included in cash flows from operating activities. Intercompany transactions reported as investing or financing activities include the sale of capital stock of various subsidiaries, loans and other capital transactions between members of the consolidated group. Certain non-guarantor subsidiaries of the Parent Company are limited in their ability to remit funds to it by means of dividends, advances or loans due to required foreign government and/or currency exchange board approvals or limitations in credit agreements or other debt instruments of those subsidiaries. The Company has reclassified certain assets and liabilities from its non-guarantor subsidiaries to the Parent Company as a result of a common control transaction in connection with the Company's integration efforts of the Acquisition to optimize its operations. The Company also reclassified certain assets and liabilities for inclusion of an additional wholly-owned domestic subsidiary from its non-guarantor subsidiaries to the combined guarantor subsidiaries as a result of changes included in the Sixth Amendment. Condensed Consolidating Balance Sheets As of December 31, 2018 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated ASSETS Current assets Cash, cash equivalents and restricted cash $ 17.3 $ 2.7 $ 438.4 $ — $ 458.4 Short-term investments — — 33.5 — 33.5 Trade receivables, net 105.7 0.1 631.4 — 737.2 Intercompany receivables 205.3 606.3 425.1 (1,236.7 ) — Inventories 164.8 — 445.3 — 610.1 Prepaid expenses 16.4 0.1 40.9 — 57.4 Other current assets 20.4 12.5 299.6 (25.7 ) 306.8 Total current assets 529.9 621.7 2,314.2 (1,262.4 ) 2,203.4 Securities and other investments 22.4 — — — 22.4 Property, plant and equipment, net 76.9 0.8 226.4 — 304.1 Deferred income taxes 139.9 6.2 97.8 — 243.9 Goodwill 58.1 — 769.0 — 827.1 Intangible assets, net 30.8 — 593.8 — 624.6 Investment in subsidiaries 2,702.1 — — (2,702.1 ) — Other assets 30.2 0.4 69.3 (13.5 ) 86.4 Total assets $ 3,590.3 $ 629.1 $ 4,070.5 $ (3,978.0 ) $ 4,311.9 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current liabilities Notes payable $ 25.7 $ 0.1 $ 23.7 $ — $ 49.5 Accounts payable 88.1 — 421.4 — 509.5 Intercompany payable 1,030.8 60.8 145.1 (1,236.7 ) — Deferred revenue 116.6 0.1 261.5 — 378.2 Payroll and other benefits liabilities 26.7 1.3 156.3 — 184.3 Other current liabilities 114.2 1.5 352.4 (21.2 ) 446.9 Total current liabilities 1,402.1 63.8 1,360.4 (1,257.9 ) 1,568.4 Long-term debt 2,172.5 — 17.5 — 2,190.0 Pensions, post-retirements and other benefits 183.7 — 90.1 — 273.8 Deferred income taxes 10.0 — 211.6 — 221.6 Other long-term liabilities 8.4 — 96.9 (18.0 ) 87.3 Commitments and contingencies Redeemable noncontrolling interests — — 130.4 — 130.4 Total Diebold Nixdorf, Incorporated shareholders' equity (186.4 ) 565.3 2,136.8 (2,702.1 ) (186.4 ) Noncontrolling interests — — 26.8 — 26.8 Total liabilities and equity $ 3,590.3 $ 629.1 $ 4,070.5 $ (3,978.0 ) $ 4,311.9 Condensed Consolidating Balance Sheets As of December 31, 2017 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated ASSETS Current assets Cash, cash equivalents and restricted cash $ 58.5 $ 2.3 $ 482.4 $ — $ 543.2 Short-term investments — — 81.4 — 81.4 Trade receivables, net 140.7 1.4 685.8 — 827.9 Intercompany receivables 106.7 638.4 384.0 (1,129.1 ) — Inventories 159.4 — 555.1 — 714.5 Prepaid expenses 15.7 1.0 49.0 — 65.7 Other current assets 19.7 16.0 233.6 (21.8 ) 247.5 Total current assets 500.7 659.1 2,471.3 (1,150.9 ) 2,480.2 Securities and other investments 96.8 — — — 96.8 Property, plant and equipment, net 89.6 2.1 272.8 — 364.5 Deferred income taxes 150.8 8.0 135.0 — 293.8 Goodwill 55.5 — 1,061.6 — 1,117.1 Intangible assets, net 37.5 — 736.3 — 773.8 Investment in subsidiaries 2,810.9 — — (2,810.9 ) — Other assets 47.2 1.1 74.0 (26.5 ) 95.8 Total assets $ 3,789.0 $ 670.3 $ 4,751.0 $ (3,988.3 ) $ 5,222.0 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current liabilities Notes payable $ 49.9 $ 0.3 $ 16.5 $ — $ 66.7 Accounts payable 88.1 0.1 474.0 — 562.2 Intercompany payable 1,019.5 22.2 87.4 (1,129.1 ) — Deferred revenue 115.8 0.6 320.1 — 436.5 Payroll and other benefits liabilities 26.1 2.2 170.6 — 198.9 Other current liabilities 112.4 2.8 438.0 (21.8 ) 531.4 Total current liabilities 1,411.8 28.2 1,506.6 (1,150.9 ) 1,795.7 Long-term debt 1,710.6 0.1 76.4 — 1,787.1 Pensions, post-retirements and other benefits 199.7 — 66.7 — 266.4 Deferred income taxes 10.0 — 277.1 — 287.1 Other long-term liabilities 11.4 — 126.4 (26.5 ) 111.3 Commitments and contingencies Redeemable noncontrolling interests — — 492.1 — 492.1 Total Diebold Nixdorf, Incorporated shareholders' equity 445.5 642.0 2,168.9 (2,810.9 ) 445.5 Noncontrolling interests — — 36.8 — 36.8 Total liabilities and equity $ 3,789.0 $ 670.3 $ 4,751.0 $ (3,988.3 ) $ 5,222.0 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2018 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net sales $ 2,158.9 $ 0.5 $ 2,419.3 $ (0.1 ) $ 4,578.6 Cost of sales 1,994.1 1.9 1,691.8 (0.1 ) 3,687.7 Gross profit (loss) 164.8 (1.4 ) 727.5 — 890.9 Selling and administrative expense 306.6 4.9 574.1 — 885.6 Research, development and engineering expense 2.8 44.6 110.0 — 157.4 Impairment of assets — — 217.5 — 217.5 (Gain) loss on sale of assets, net (3.4 ) 0.1 (3.4 ) — (6.7 ) 306.0 49.6 898.2 — 1,253.8 Operating loss (141.2 ) (51.0 ) (170.7 ) — (362.9 ) Other income (expense) Interest income 0.3 0.1 8.3 — 8.7 Interest expense (140.7 ) — (14.2 ) — (154.9 ) Foreign exchange (loss) gain, net (17.3 ) (0.2 ) 15.0 — (2.5 ) Miscellaneous, net 36.4 1.3 (41.7 ) — (4.0 ) Loss from continuing operations before taxes (262.5 ) (49.8 ) (203.3 ) — (515.6 ) Income tax (benefit) expense 18.8 (10.2 ) 28.6 — 37.2 Equity in (loss) earnings of unconsolidated subsidiaries, net (287.4 ) — (13.2 ) 287.4 (13.2 ) Net (loss) income (568.7 ) (39.6 ) (245.1 ) 287.4 (566.0 ) Income attributable to noncontrolling interests, net of tax — — 2.7 — 2.7 Net (loss) income attributable to Diebold Nixdorf, Incorporated $ (568.7 ) $ (39.6 ) $ (247.8 ) $ 287.4 $ (568.7 ) Comprehensive (loss) income $ (676.1 ) $ (39.6 ) $ (339.3 ) $ 377.7 $ (677.3 ) Less: comprehensive loss attributable to noncontrolling interests — — (1.2 ) — (1.2 ) Comprehensive (loss) income attributable to Diebold Nixdorf, Incorporated $ (676.1 ) $ (39.6 ) $ (338.1 ) $ 377.7 $ (676.1 ) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2017 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net sales $ 1,126.4 $ 7.4 $ 3,480.6 $ (5.1 ) $ 4,609.3 Cost of sales 902.0 12.3 2,700.3 (5.1 ) 3,609.5 Gross profit (loss) 224.4 (4.9 ) 780.3 — 999.8 Selling and administrative expense 283.8 10.5 639.4 — 933.7 Research, development and engineering expense 3.1 40.6 111.8 — 155.5 Impairment of assets 3.1 — — — 3.1 Loss on sale of assets, net 0.5 0.4 0.1 — 1.0 290.5 51.5 751.3 — 1,093.3 Operating (loss) profit (66.1 ) (56.4 ) 29.0 — (93.5 ) Other income (expense) Interest income 2.3 0.2 17.8 — 20.3 Interest expense (108.7 ) — (8.6 ) — (117.3 ) Foreign exchange loss, net (0.5 ) (0.1 ) (3.3 ) — (3.9 ) Miscellaneous, net 6.2 7.7 (11.1 ) (0.3 ) 2.5 (Loss) income from continuing operations before taxes (166.8 ) (48.6 ) 23.8 (0.3 ) (191.9 ) Income tax (benefit) expense 36.1 (15.5 ) 7.7 — 28.3 Equity in (loss) earnings of unconsolidated subsidiaries, net (38.6 ) — 6.3 38.6 6.3 Net (loss) income (241.5 ) (33.1 ) 22.4 38.3 (213.9 ) Income attributable to noncontrolling interests, net of tax — — 27.6 — 27.6 Net (loss) income attributable to Diebold Nixdorf, Incorporated $ (241.5 ) $ (33.1 ) $ (5.2 ) $ 38.3 $ (241.5 ) Comprehensive (loss) income $ (96.5 ) $ (33.1 ) $ 193.7 $ (127.1 ) $ (63.0 ) Less: comprehensive income attributable to noncontrolling interests — — 33.5 — 33.5 Comprehensive (loss) income attributable to Diebold Nixdorf, Incorporated $ (96.5 ) $ (33.1 ) $ 160.2 $ (127.1 ) $ (96.5 ) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2016 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net sales $ 1,137.1 $ 85.0 $ 2,177.4 $ (83.2 ) $ 3,316.3 Cost of sales 888.5 84.2 1,714.2 (82.3 ) 2,604.6 Gross profit (loss) 248.6 0.8 463.2 (0.9 ) 711.7 Selling and administrative expense 314.4 11.6 435.2 — 761.2 Research, development and engineering expense 7.9 45.7 56.6 — 110.2 Impairment of assets — 5.1 4.7 — 9.8 Loss (Gain) on sale of assets, net 0.3 (0.1 ) 0.1 — 0.3 322.6 62.3 496.6 — 881.5 Operating loss (74.0 ) (61.5 ) (33.4 ) (0.9 ) (169.8 ) Other income (expense) Interest income 2.5 0.6 18.4 — 21.5 Interest expense (95.1 ) (0.1 ) (6.2 ) — (101.4 ) Foreign exchange (loss) gain, net (3.5 ) (0.1 ) 1.5 — (2.1 ) Miscellaneous, net (3.2 ) 7.8 (0.5 ) (1.0 ) 3.1 Loss from continuing operations before taxes (173.3 ) (53.3 ) (20.2 ) (1.9 ) (248.7 ) Income (benefit) tax expense (54.8 ) (28.6 ) 14.4 — (69.0 ) Equity in (loss) earnings of unconsolidated subsidiaries, net (58.3 ) — 0.4 58.3 0.4 (Loss) income from continuing operations, net of tax (176.8 ) (24.7 ) (34.2 ) 56.4 (179.3 ) Income from discontinued operations, net of tax 135.2 — 8.5 — 143.7 Net (loss) income (41.6 ) (24.7 ) (25.7 ) 56.4 (35.6 ) Income attributable to noncontrolling interests, net of tax — — 6.0 — 6.0 Net (loss) income attributable to Diebold Nixdorf, Incorporated $ (41.6 ) $ (24.7 ) $ (31.7 ) $ 56.4 $ (41.6 ) Comprehensive (loss) income $ (64.8 ) $ (24.7 ) $ (60.3 ) $ 94.2 $ (55.6 ) Less: comprehensive income attributable to noncontrolling interests — — 9.2 — 9.2 Comprehensive (loss) income attributable to Diebold Nixdorf, Incorporated $ (64.8 ) $ (24.7 ) $ (69.5 ) $ 94.2 $ (64.8 ) Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2018 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net cash (used) provided by operating activities $ (67.8 ) $ (37.7 ) $ 1.4 $ — $ (104.1 ) Cash flow from investing activities Capital expenditures (6.5 ) (0.1 ) (51.9 ) — (58.5 ) Payments for acquisitions, net of cash acquired — — (5.9 ) — (5.9 ) Proceeds from maturities of investments 71.2 — 246.6 — 317.8 Payments for purchases of investments — — (200.2 ) — (200.2 ) Proceeds from divestitures and the sale of assets 6.7 — 4.4 — 11.1 Decrease in certain other assets (5.8 ) — (24.1 ) — (29.9 ) Capital contributions and loans paid (503.2 ) — — 503.2 — Proceeds from intercompany loans 29.2 — — (29.2 ) — Net cash (used) provided by investing activities (408.4 ) (0.1 ) (31.1 ) 474.0 34.4 Cash flow from financing activities Dividends paid (7.7 ) — — — (7.7 ) Debt issuance costs (39.4 ) — — — (39.4 ) Revolving debt borrowings (repayments), net 110.0 — (60.0 ) — 50.0 Other debt borrowings 660.0 — 65.9 — 725.9 Other debt repayments (284.9 ) (0.3 ) (52.5 ) — (337.7 ) Distribution to noncontrolling interest holders — — (377.2 ) — (377.2 ) Repurchase of common shares (3.0 ) — — — (3.0 ) Capital contributions received and loans incurred — 59.0 444.2 (503.2 ) — Payments on intercompany loans — (20.5 ) (8.7 ) 29.2 — Net cash provided (used) by financing activities 435.0 38.2 11.7 (474.0 ) 10.9 Effect of exchange rate changes on cash — — (18.7 ) — (18.7 ) (Decrease) increase in cash, cash equivalents and restricted cash (41.2 ) 0.4 (36.7 ) — (77.5 ) Less: Cash included in assets held for sale at end of year — — 7.3 — 7.3 Cash, cash equivalents and restricted cash at the beginning of the year 58.5 2.3 482.4 — 543.2 Cash, cash equivalents and restricted cash at the end of the year $ 17.3 $ 2.7 $ 438.4 $ — $ 458.4 Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2017 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net cash (used) provided by operating activities $ (43.9 ) $ (41.6 ) $ 122.6 $ — $ 37.1 Cash flow from investing activities Capital expenditures (13.0 ) (0.1 ) (56.3 ) — (69.4 ) Payments for acquisitions, net of cash acquired — — (5.6 ) — (5.6 ) Proceeds from maturities of investments — — 296.2 — 296.2 Payments for purchases of investments (14.0 ) — (315.8 ) — (329.8 ) Proceeds from divestitures and the sale of assets 4.6 — 16.3 — 20.9 (Decrease) increase in certain other assets (43.0 ) 11.8 (1.9 ) — (33.1 ) Capital contributions and loans paid (114.5 ) — — 114.5 — Proceeds from intercompany loans 210.7 — — (210.7 ) — Net cash provided (used) by investing activities 30.8 11.7 (67.1 ) (96.2 ) (120.8 ) Cash flow from financing activities Dividends paid (30.6 ) — — — (30.6 ) Debt issuance costs (1.1 ) — — — (1.1 ) Revolving debt borrowings, net — — 75.0 — 75.0 Other debt borrowings 323.3 — 50.8 — 374.1 Other debt repayments (354.2 ) (1.2 ) (103.4 ) — (458.8 ) Distribution to noncontrolling interest holders — — (17.6 ) — (17.6 ) Issuance of common shares 0.3 — — — 0.3 Repurchase of common shares (5.0 ) — — — (5.0 ) Capital contributions received and loans incurred — 67.1 47.4 (114.5 ) — Payments on intercompany loans — (36.0 ) (174.7 ) 210.7 — Net cash (used) provided by financing activities (67.3 ) 29.9 (122.5 ) 96.2 (63.7 ) Effect of exchange rate changes on cash — — 37.9 — 37.9 Decrease in cash, cash equivalents and restricted cash (80.4 ) — (29.1 ) — (109.5 ) Cash, cash equivalents and restricted cash at the beginning of the year 138.9 2.3 511.5 — 652.7 Cash, cash equivalents and restricted cash at the end of the year $ 58.5 $ 2.3 $ 482.4 $ — $ 543.2 Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2016 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net cash (used) provided by operating activities $ (146.4 ) $ (43.2 ) $ 232.1 $ (13.8 ) $ 28.7 Cash flow from investing activities Capital expenditures (9.2 ) (1.0 ) (29.3 ) — (39.5 ) Payments for acquisitions, net of cash acquired (995.2 ) — 110.6 — (884.6 ) Proceeds from maturities of investments (1.9 ) — 226.9 — 225.0 Payments for purchases of investments — — (243.5 ) — (243.5 ) Proceeds from divestitures and the sale of assets — — 31.3 — 31.3 Increase (decrease) in certain other assets 0.5 (6.8 ) (21.9 ) — (28.2 ) Proceeds from sale of foreign currency option and forward contracts, net 16.2 — — — 16.2 Capital contributions and loans paid (270.2 ) — (1,119.3 ) 1,389.5 — Proceeds from intercompany loans 106.4 — — (106.4 ) — Net cash (used) provided by investing activities - continuing operations (1,153.4 ) (7.8 ) (1,045.2 ) 1,283.1 (923.3 ) Net cash provided by investing activities - discontinued operations 361.9 — — — 361.9 Net cash (used) provided by investing activities (791.5 ) (7.8 ) (1,045.2 ) 1,283.1 (561.4 ) Cash flow from financing activities Dividends paid (64.6 ) — (13.8 ) 13.8 (64.6 ) Debt issuance costs (39.2 ) — — — (39.2 ) Revolving debt repayments, net (178.0 ) — — — (178.0 ) Other debt borrowings 1,781.3 — 56.4 — 1,837.7 Other debt repayments (439.6 ) (1.2 ) (221.7 ) — (662.5 ) Distribution to noncontrolling interest holders — — (10.2 ) — (10.2 ) Issuance of common shares 0.3 — — — 0.3 Repurchase of common shares (2.2 ) — — — (2.2 ) Capital contributions received and loans incurred — 133.3 1,256.2 (1,389.5 ) — Payments on intercompany loans — (86.7 ) (19.7 ) 106.4 — Net cash provided by (used in) financing activities 1,058.0 45.4 1,047.2 (1,269.3 ) 881.3 Effect of exchange rate changes on cash — — (8.0 ) — (8.0 ) Increase (decrease) in cash, cash equivalents and restricted cash 120.1 (5.6 ) 226.1 — 340.6 Add: Cash overdraft included in assets held for sale at beginning of year (1.5 ) — — — (1.5 ) Cash, cash equivalents and restricted cash at the beginning of the year 20.3 7.9 285.4 — 313.6 Cash, cash equivalents and restricted cash at the end of the year $ 138.9 $ 2.3 $ 511.5 $ — $ 652.7 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | The consolidated financial statements include the accounts of Diebold Nixdorf, Incorporated and its wholly- and majority-owned subsidiaries (collectively, the Company). All significant intercompany accounts and transactions have been eliminated, including common control transfers among subsidiaries of the Company. |
Use of Estimates in Preparation of Consolidated Financial Statements | The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include revenue recognition, the valuation of trade and financing receivables, inventories, goodwill, intangible assets, other long-lived assets, legal contingencies, guarantee obligations and assumptions used in the calculation of income taxes, pension and other post-retirement benefits and customer incentives, among others. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors. Management monitors the economic condition and other factors and will adjust such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. |
Reclassification | Reclassification. In connection with recent changes in the Company's leadership, beginning with the second quarter of 2018, the Company's reportable operating segments are based on the following solutions: Eurasia Banking, Americas Banking and Retail. As a result, the Company reclassified comparative periods for consistency. The Company has reclassified the presentation of certain prior-year information to conform to the current presentation. The Company reclassified $8.0 from other current assets to restricted cash as of December 31, 2017 in the consolidated balance sheets and was included in cash, cash equivalents and restricted cash as of December 31, 2017 in the consolidated statements of cash flows. |
International Operations | The financial statements of the Company’s international operations are measured using local currencies as their functional currencies, with the exception of certain financial results from Venezuela, Mexico, Argentina, Singapore and Switzerland, which have a functional currency other than local currency. These operations used either United States dollar (USD) or euro as their functional currency depending on the concentration of USD or euro transactions and distinct financial information. The Company translates the assets and liabilities of its non-U.S. subsidiaries at the exchange rates in effect at year end and the results of operations at the average rate throughout the year. The translation adjustments are recorded directly as a separate component of shareholders’ equity, while transaction gains (losses) are included in net income. |
Acquisition | Acquisitions are accounted for using the purchase method of accounting. This method requires the Company to record assets and liabilities of the business acquired at their estimated fair market values as of the acquisition date. Any excess cost of the acquisition over the fair value of the net assets acquired is recorded as goodwill. The Company generally uses valuation specialists to perform appraisals and assist in the determination of the fair values of the assets acquired and liabilities assumed. These valuations require management to make estimates and assumptions that are critical in determining the fair values of the assets and liabilities. |
Divestiture | For all divestitures, the Company considers assets to be held for sale when management approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer and other actions required to complete the sale have been initiated, the sale of the assets is probable and expected to be completed within one year (or, if it is expected that others will impose conditions on the sale of the assets that will extend the period required to complete the sale, that a firm purchase commitment is probable within one year) and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, the Company records the assets at the lower of their carrying value or their estimated fair value, reduced for the cost to dispose of the assets, and ceases to record depreciation expense on the assets. Assets and liabilities are reclassified as held for sale in the period the held for sale criteria are met. The Company reports financial results for discontinued operations separately from continuing operations to distinguish the financial impact of a divestiture from ongoing operations. Discontinued operations reporting occurs only when the disposal of a component or a group of components of the Company represents a strategic shift that will have a major effect on the Company's operations and financial results. For those divestitures that qualify as discontinued operations, all comparative periods presented are reclassified in the consolidated balance sheets. Additionally, the results of operations of a discontinued operation are reclassified to income from discontinued operations, net of tax, for all periods presented. As of December 31, 2018, the Company had $81.5 and $33.2 of current assets and liabilities held for sale, respectively, primarily related to non-core businesses in Europe and the Americas. As of December 31, 2017, the Company had $2.1 of current assets held for sale primarily related to a building in North America. The Company closed it divestiture of the NA ES business on February 1, 2016 and included its operating results and operating and investing cash flows in discontinued operations for 2016. |
Revenue Recognition | Revenue is measured based on consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The amount of consideration can vary depending on discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, penalties, or other similar items contained in the contract with the customer of which generally these variable consideration components represents minimal amount of net sales. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The Company's payment terms vary depending on the individual contracts and are generally fixed fee. The Company recognizes advance payments and billings in excess of revenue recognized as deferred revenue. In certain contracts where services are provided prior to billing, the Company recognizes a contract asset within trade receivables and other current assets. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and that are collected by the Company from a customer are excluded from revenue. The Company recognizes shipping and handling fees billed when products are shipped or delivered to a customer and includes such amounts in net sales. Although infrequent, shipping and handling associated with outbound freight after control over a product has transferred to a customer is not a separate performance obligation, rather it is accounted for as a fulfillment cost. Third-party freight payments are recorded in cost of sales. The Company includes a warranty in connection with certain contracts with customers, which are not considered to be separate performance obligations. The Company provides its customers a manufacturer’s warranty and records, at the time of the sale, a corresponding estimated liability for potential warranty costs. For additional information on product warranty refer to note 9. The Company also has extended warranty and service contracts available for its customers, which are recognized as separate performance obligations. Revenue is recognized on these contracts ratably as the Company has a stand-ready obligation to provide services when or as needed by the customer. This input method is the most accurate assessment of progress toward completion the Company can apply. Nature of goods and services Product revenue is recognized at the point in time that the customer obtains control of the product, which could be upon delivery or upon completion of installation services, depending on contract terms. The Company’s software licenses are functional in nature (the IP has significant stand-alone functionality); as such, the revenue recognition of distinct software license sales is at the point in time that the customer obtains control of the rights granted by the license. Professional services integrate the commercial solution with the customer's existing infrastructure and helps define the optimal user experience, improve business processes, refine existing staffing models and deploy technology to meet branch and store automation objectives. Revenue from professional services are recognized over time, because the customer simultaneously receives and consumes the benefits of the Company’s performance as the services are performed or when the Company’s performance creates an asset with no alternative use and the Company has an enforceable right to payment for performance completed to date. Generally revenue will be recognized using an input measure, typically costs incurred. The typical contract length for service is generally one year and is billed and paid in advance except for installations, among others. Services may be sold separately or in bundled packages. For bundled packages, the Company accounts for individual services separately if they are distinct. A distinct service is separately identifiable from other items in the bundled package if a customer can benefit from it on its own or with other resources that are readily available to the customer. The consideration (including any discounts) is allocated between separate services or distinct obligations in a bundle based on their stand-alone selling prices. The stand-alone selling prices are determined based on the prices at which the Company separately sells the products or services. For items that are not sold separately, the Company estimates stand-alone selling prices using the cost plus expected margin approach. Revenue on service contracts is recognized ratably over time, generally using an input measure, as the customer simultaneously receives and consumes the benefits of the Company’s performance as the services are performed. In some circumstances, when global service supply chain services are not included in a term contract and rather billed as they occur, revenue on these billed work services are recognized at a point in time as transfer of control occurs. The following is a description of principal solutions offered within the Company's two main industry segments that generate the Company's revenue. Banking Products. Products for banking customers consist of cash recyclers and dispensers, intelligent deposit terminals, teller automation tools and kiosk technologies, as well as physical security solutions. The Company provides its banking customers front-end applications for consumer connection points and back-end platforms that manage channel transactions, operations and integration and facilitate omnichannel transactions, endpoint monitoring, remote asset management, customer marketing, merchandise management and analytics. These offerings include highly configurable, API enabled software that automates legacy banking transactions across channels. Services. The Company provides its banking customers product-related services which include proactive monitoring and rapid resolution of incidents through remote service capabilities or an on-site visit. First and second line maintenance, preventive maintenance and on-demand services keep the distributed assets of the Company's customers up and running through a standardized incident management process. Managed services and outsourcing consists of the end-to-end business processes, solution management, upgrades and transaction processing. The Company also provides a full array of cash management services, which optimizes the availability and cost of physical currency across the enterprise through efficient forecasting, inventory and replenishment processes. Retail Products. The retail product portfolio includes modular, integrated and mobile POS and SCO terminals that meet evolving automation and omnichannel requirements of consumers. Supplementing the POS system is a broad range of peripherals, including printers, scales and mobile scanners, as well as the cash management portfolio which offers a wide range of banknote and coin processing systems. Also in the portfolio, the Company provides SCO terminals and ordering kiosks which facilitate an efficient and user-friendly purchasing experience. The Company’s hybrid product line can alternate from an attended operator to self-checkout with the press of a button as traffic conditions warrant throughout the business day. The Company's platform software is installed within retail data centers to facilitate omnichannel transactions, endpoint monitoring, remote asset management, customer marketing, merchandise management and analytics. Services. The Company provides its retail customers product-related services which include on-demand services and professional services. Diebold Nixdorf AllConnect Services for retailers include maintenance and availability services to continuously improve retail self-service fleet availability and performance. These include: total implementation services to support both current and new store concepts; managed mobility services to centralize asset management and ensure effective, tailored mobile capability; monitoring and advanced analytics providing operational insights to support new growth opportunities; and store life-cycle management to proactively monitors store IT endpoints and enable improved management of internal and external suppliers and delivery organizations. Refer to note 20 for additional information regarding the Company's reportable operating segments, disaggregation of net sales by segments and product solutions, net sales by geographical region and disaggregation by timing of revenue recognition. Contract balances The following table provides 2018 information about receivables and deferred revenue, which represent contract liabilities from contracts with customers: Contract balance information Trade Receivables Contract liabilities Balance at January 1 $ 827.9 $ 436.5 Balance at December 31 $ 737.2 $ 378.2 Contract assets are minimal for the periods presented. The amount of revenue recognized in 2018 from performance obligations satisfied (or partially satisfied) in previous periods, mainly due to the changes in the estimate of variable consideration and contract modifications was de minimis. There have been $22.8 and $54.9 during the years ended December 31, 2018 and 2017, respectively, of impairment losses recognized as bad debt related to receivables or contract assets arising from the Company's contracts with customers. As of January 1, 2018, the Company had $436.5 of unrecognized deferred revenue constituting the remaining performance obligations that are either unsatisfied (or partially unsatisfied). In 2018, the Company recognized revenue of $332.5 related to the Company's deferred revenue balance at January 1, 2018. Contract assets are the rights to consideration in exchange for goods or services that the Company has transferred to a customer when that right is conditional on something other than the passage of time. Contract assets of the Company primarily relate to the Company's rights to consideration for goods shipped and services provided but not contractually billable at the reporting date. The contract assets are reclassified into the receivables balance when the rights to receive payment become unconditional. Contract liabilities are recorded for any services billed to customers and not yet recognizable if the contract period has commenced or for the amount collected from customers in advance of the contract period commencing. In addition, contract liabilities are recorded as advanced payments for products and other deliverables that are billed to and collected from customers prior to revenue being recognizable. Transaction price and variable consideration The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer, excluding amounts collected on behalf of third parties. This consideration can include fixed and variable amounts and is determined at contract inception and updated each reporting period for any changes in circumstances. The transaction price also considers variable consideration, time value of money and the measurement of any non-cash consideration, all of which are estimated at contract inception and updated at each reporting date for any changes in circumstances. Once the variable consideration is identified, the Company estimates the amount of the variable consideration to include in the transaction price by using one of two methods, expected value (probability weighted methodology) or most likely amount (when there are only two possible outcomes). The Company chooses the method expected to better predict the amount of consideration to which it will be entitled and applies the method consistently to similar contracts. Generally, the Company applies the expected value method when assessing variable consideration including returns and refunds. The Company also applies the ‘as invoiced’ practical expedient in Accounting Standards Codification (ASC) paragraph 606-10-55-18 related to performance obligations satisfied over time, which permits the Company to recognize revenue in the amount to which it has a right to invoice the customer if that amount corresponds directly with the value to the customer of the Company’s performance completed to date. Service revenues that are recognized ratably are primarily contracts that include first and second line maintenance. Service revenues that are recognized using input measures include primarily preventative maintenance. The ‘as invoiced’ practical expedient relates to the on-demand service revenue which is generally not under contract. Transaction price allocated to the remaining performance obligations As of December 31, 2018 , the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $2,900 . The Company generally expects to recognize revenue on the remaining performance obligations over the next twelve months. The Company enters into service agreements with cancellable terms after a certain period without penalty. Unsatisfied obligations reflect only the obligation during the initial term. The Company applies the practical expedient in ASC paragraph 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. Cost to obtain and cost to fulfill a contract The Company has minimal cost to obtain or fulfill contracts for customers for the periods presented. The Company pays commissions to the sales force based on multiple factors including but not limited to order entry, revenue recognition and portfolio growth. These incremental commission fees paid to the sales force meet the criteria to be considered a cost to obtain a contract, as they are directly attributable to a contract, incremental and management expects the fees are recoverable. The Company applies the practical expedient and recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. The costs that are not capitalized are included in cost of sales. The costs related to contracts with greater than a one-year term are immaterial and continue to be recognized in cost of sales. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales. The Company has minimal cost for shipping and handling costs for the periods presented. Changes in accounting policies Except for the changes below, the Company has consistently applied the accounting policies to all periods presented in these consolidated financial statements. The Company adopted Accounting Standards Updated (ASU) Topic 606, Revenue from Contracts with Customers (Topic 606) , with a date of initial application of January 1, 2018. As a result, the Company has changed its accounting policy for revenue recognition as detailed below. The Company applied Topic 606 using the cumulative effect method — i.e., by recognizing the cumulative effect of initially applying Topic 606 as an adjustment to the opening balance of equity at January 1, 2018. Therefore, the comparative information has not been adjusted and continues to be reported under ASU Topic 605, Revenue Recognition . The Company applied the practical expedient related to assessment of contract modifications, whereby the Company is essentially allowed to use hindsight when assessing the effect of a modification and accounting for the modified contract as if it existed from the beginning of the original contract. The details of the significant changes and quantitative impact of the changes are set out below. Professional service contracts Previously, the Company recognized revenue for professional services contracts either on a milestone method or completed contract basis. Under Topic 606, the Company recognizes revenue when control transfers to a customer. As professional services can be highly customized for each customer, there is no alternative use for the services. When there is an enforceable right to payment for service completed combined with no alternative use of the services, the services meet criteria for over time revenue recognition. Revenue is recognized as the services are provided and as the customer benefits from the service. Revenue is recognized progressively based on the costs incurred method. When the professional services are not highly customized as in basic software installation services, customers do not take control of the services until they are completed. Therefore, the Company continues to recognize revenue for such contracts when the services are completed and customers formally accept them. In certain circumstances, a contract with a customer that contains a software arrangement may include provisions for customer acceptance. In these cases, when or as the performance obligation is satisfied, the Company recognizes revenue and records a contract asset until customer acceptance is received. Once customer acceptance is received, the contract asset is reclassified to accounts receivable. As of December 31, 2018 , contract assets related to these arrangements were minimal. In situations where the performance obligation has not been met and the Company has not received customer acceptance, no revenue is recognized. Customer acceptance provisions by their nature require the customer to approve that the Company has satisfied its performance obligation and are generally standard throughout the Company's contracts with customers. If an instance arises where the Company would recognize revenue prior to customer acceptance, which occurs primarily when the Company provides bundled software and professional services, it is the Company's policy, pursuant to Topic 606, when or as the performance obligation is satisfied, to recognize revenue and record a contract asset or reduce deferred revenue, as applicable, until customer acceptance is received. Once customer acceptance is received, the contract asset is reclassified to trade receivables, net. In these circumstances, the Company would consider ASC 606-10-55-86 and -87 and conclude that although a standard method to transferring the software and services is not met, the standard terms of the customer acceptance provisions and favorable history of customer acceptances support revenue recognition prior to customer acceptance. The Company also would only recognize revenue prior to customer acceptance only if there were no remaining inputs related to performance obligation. These instances were immaterial. For certain contracts that contain customer acceptance clauses, such as customized software arrangements, the revenue is recognized pursuant to ASC 606-25 25-27(c) since the Company’s performance does not create an asset with an alternative use and the Company has an enforceable right to payment for performance completed to date. Impacts on financial statements The following table summarize the impacts of adopting Topic 606 on the Company’s consolidated financial statements as of and for the period ended December 31, 2018 as if the Company continued to follow its accounting policies under the previous revenue recognition guidance. Impact of changes in accounting policy for the twelve months ended December 31, 2018 As Reported Adjustments Balances without adoption of Topic 606 Trade receivables, less allowances for doubtful accounts of $58.2 and $71.7, respectively $ 737.2 $ (3.9 ) $ 733.3 Inventories $ 610.1 $ 24.2 $ 634.3 Deferred revenue $ 378.2 $ 30.7 $ 408.9 Deferred income taxes $ 221.6 $ (0.7 ) $ 220.9 Retained earnings (accumulated deficit) $ (168.3 ) $ (9.8 ) $ (178.1 ) The impact to net sales and cost of sales would have been decreases of $18.2 and $14.2 , respectively, for the year ended December 31, 2018 . The impact after tax was $(0.9) for the year ended December 31, 2018 and was primarily a result of timing of deferred revenue related to products and software for certain amounts being recognized that would have previously been deferred, and certain amounts being deferred that would have previously been recognized. |
Cost of Sales | Cost of products sales is primarily comprised of direct materials and supplies consumed in the manufacturing and distribution of products, as well as related labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished products. Cost of products sales also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity. |
Property, Plant and Equipment and Long-lived Assets | Property, plant and equipment and long-lived assets are recorded at historical cost, including interest where applicable. Impairment of property, plant and equipment and long-lived assets is recognized when events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If the expected future undiscounted cash flows are less than the carrying amount of the asset, an impairment loss is recognized at that time to reduce the asset to the lower of its fair value or its net book value. |
Depreciation, Depletion, and Amortization [Policy Text Block] | Depreciation of property, plant and equipment is computed using the straight-line method based on the estimated useful life for each asset class. Amortization of leasehold improvements is based upon the shorter of original terms of the lease or life of the improvement. Repairs and maintenance are expensed as incurred. Generally, amortization of the Company’s other long-term assets, such as intangible assets and capitalized computer software, is computed using the straight-line method over the life of the asset. Certain acquired technology assets utilize a double-declining method. Fully depreciated assets are retained until disposal. Upon disposal, assets and related accumulated depreciation or amortization are removed from the accounts and the net amount, less proceeds from disposal, is charged or credited to operations. |
Advertising Costs | Advertising costs are expensed as incurred and were $10.1 , $11.0 and $14.0 in 2018 , 2017 and 2016 , respectively. |
Research, Development and Engineering Costs | Research, development and engineering costs are expensed as incurred and were $157.4 , $155.5 and $110.2 in 2018 , 2017 and 2016 , respectively. |
Shipping and Handling Costs | The Company recognizes shipping and handling fees billed when products are shipped or delivered to a customer and includes such amounts in net sales. Third-party freight payments are recorded in cost of sales. |
Taxes on Income | Deferred taxes are provided on an asset and liability method, whereby deferred tax assets are recognized for deductible temporary differences, operating loss carry-forwards and tax credits. Deferred tax liabilities are recognized for taxable temporary differences and undistributed earnings in certain tax jurisdictions. Deferred tax assets are reduced by a valuation allowance when, based on available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Determination of a valuation allowance involves estimates regarding the timing and amount of the reversal of taxable temporary differences, expected future taxable income and the impact of tax planning strategies. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company regularly assesses its position with regard to tax exposures and records liabilities for these uncertain tax positions and related interest and penalties, if any, when the tax benefit is not more likely than not realizable. The Company has recorded an accrual that reflects the recognition and measurement process for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return. Additional future income tax expense or benefit may be recognized once the positions are effectively settled. |
Sales Tax | The Company collects sales taxes from customers and accounts for sales taxes on a net basis. |
Cash Equivalents | The Company considers highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. The Company had $105.3 and $8.0 of restricted cash at December 31, 2018 and 2017, respectively. Restricted cash primarily relates to the acquisition of the remaining shares in Diebold Nixdorf AG. |
Financial Instruments | The carrying amount of cash and cash equivalents, short term investments, trade receivables and accounts payable approximated their fair value because of the relatively short maturity of these instruments. The Company’s risk-management strategy utilizes derivative financial instruments such as forwards to hedge certain foreign currency exposures and interest rate swaps to manage interest rate risk. The intent is to offset gains and losses that occur on the underlying exposures, with gains and losses on the derivative contracts hedging these exposures. The Company does not enter into derivatives for trading purposes. The Company recognizes all derivatives on the balance sheet at fair value. Changes in the fair values of derivatives that are not designated as hedges are recognized in earnings. If the derivative is designated and qualifies as a hedge, depending on the nature of the hedge, changes in the fair value of the derivatives are either offset against the change in the hedged assets or liabilities through earnings or recognized in other comprehensive income until the hedged item is recognized in earnings. |
Fair Value | The Company measures its financial assets and liabilities using one or more of the following three valuation techniques: Valuation technique Description Market approach Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Cost approach Amount that would be required to replace the service capacity of an asset (replacement cost). Income approach Techniques to convert future amounts to a single present amount based upon market expectations. The hierarchy that prioritizes the inputs to valuation techniques used to measure fair value is divided into three levels: Fair value level Description Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Fair value of investments categorized as level 1 are determined based on period end closing prices in active markets. Mutual funds are valued at their net asset value (NAV) on the last day of the period. Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs, other than quoted prices in active markets, that are observable either directly or indirectly. Fair value of investments categorized as level 2 are determined based on the latest available ask price or latest trade price if listed. The fair value of unlisted securities is established by fund managers using the latest reported information for comparable securities and financial analysis. If the manager believes the fund is not capable of immediately realizing the fair value otherwise determined, the manager has the discretion to determine an appropriate value. Common collective trusts are valued at NAV on the last day of the period. Level 3 Unobservable inputs for which there is little or no market data. Fair value of investments categorized as level 3 represent the plan’s interest in private equity, hedge and property funds. The fair value for these assets is determined based on the NAV as reported by the underlying investment managers. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company uses the end of the period when determining the timing of transfers between levels. Short-Term Investments The Company has investments in certificates of deposit that are recorded at cost, which approximates fair value. Assets Held in Rabbi Trusts / Deferred Compensation The fair value of the assets held in rabbi trusts (refer to note 7 and note15) is derived from investments in a mix of money market, fixed income and equity funds managed by Bank of America/Merrill Lynch. The related deferred compensation liability is recorded at fair value. Foreign Exchange Contracts The valuation of foreign exchange forward and option contracts is determined using valuation techniques, including option models tailored for currency derivatives. These contracts are valued using the market approach based on observable market inputs. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including spot rates, foreign currency forward rates, the interest rate curve of the domestic currency, and foreign currency volatility for the given currency pair. Forward Contracts A substantial portion of the Company’s operations and revenues are international. As a result, changes in foreign exchange rates can create substantial foreign exchange gains and losses from the revaluation of non-functional currency monetary assets and liabilities. Option Contracts A put option gives the purchaser of the option the right to sell, and the writer of the option the obligation to buy, the underlying security at any time during the option period. A call option gives the purchaser of the option the right to buy, and the writer of the option the obligation to sell, the underlying security at any time during the option period. The gain or loss on these non-designated derivative instruments is reflected in other income (expense) miscellaneous, net in the Company's consolidated statements of operations. Interest Rate Swaps The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Assets and Liabilities Recorded at Carrying Value The fair value of the Company’s cash and cash equivalents, trade receivables and accounts payable, approximates the carrying value due to the relative short maturity of these instruments. Refer to note 18 for further details of assets and liabilities subject to fair value measurement. |
Trade Receivables | The Company evaluates the collectability of trade receivables based on a percentage of sales related to historical loss experience and current trends. The Company will also record periodic adjustments for known events such as specific customer circumstances and changes in the aging of accounts receivable balances. After all efforts at collection have been unsuccessful, the account is deemed uncollectible and is written off. |
Financing Receivable | The Company evaluates the collectability of notes and finance lease receivables (collectively, financing receivables) on a customer-by-customer basis and evaluates specific customer circumstances, aging of invoices, credit risk changes and payment patterns and historical loss experience. When the collectability is determined to be at risk based on the above criteria, the Company records the allowance for credit losses, which represents the Company’s current exposure less estimated reimbursement from insurance claims. After all efforts at collection have been unsuccessful, the account is deemed uncollectible and is written off. |
Inventories | The Company primarily values inventories using average or standard costing utilizing lower of cost or net realizable value. The Company identifies and writes down its excess and obsolete inventories to net realizable value based on usage forecasts, order volume and inventory aging. With the development of new products, the Company also rationalizes its product offerings and will write-down discontinued product to the lower of cost or net realizable value. |
Deferred Revenue | Deferred revenue is recorded for any services billed to customers and not yet recognizable if the contract period has commenced or for the amount collected from customers in advance of the contract period commencing. In addition, deferred revenue is recorded for products and other deliverables that are billed to and collected from customers prior to revenue being recognizable. |
Goodwill | Goodwill is the cost in excess of the net assets of acquired businesses (refer to note 8). The Company tests all existing goodwill at least annually for impairment on a reporting unit basis. The annual goodwill impairment test was performed as of October 31 for all periods presented. The Company tests for interim impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the carrying value of a reporting unit below its reported amount. Beginning with the second quarter of 2018, the Company’s reportable operating segments are based on the conclusion of the assessment on the following solutions: Eurasia Banking, Americas Banking and Retail, with comparative periods, reclassified for consistency. Each year, the Company may elect to perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. In evaluating whether it is more likely than not the fair value of a reporting unit is less than its carrying amount, the Company considers the following events and circumstances, among others, if applicable: (a) macroeconomic conditions such as general economic conditions, limitations on accessing capital or other developments in equity and credit markets; (b) industry and market considerations such as competition, multiples or metrics and changes in the market for the Company's products and services or regulatory and political environments; (c) cost factors such as raw materials, labor or other costs; (d) overall financial performance such as cash flows, actual and planned revenue and earnings compared with actual and projected results of relevant prior periods; (e) other relevant events such as changes in key personnel, strategy or customers; (f) changes in the composition of a reporting unit's assets or expected sales of all or a portion of a reporting unit; and (g) any sustained decrease in share price. If the Company's qualitative assessment indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying value, or if management elects to perform a quantitative assessment of goodwill, an impairment test is used to identify potential goodwill impairment and measure the amount of any impairment loss to be recognized. The Company compares the fair value of each reporting unit with its carrying value and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The fair value of the reporting units is determined based upon a combination of the income valuation and market approach in valuation methodology. The income approach uses discounted estimated future cash flows, whereas the market approach or guideline public company method utilizes market data of similar publicly traded companies. The fair value of the reporting unit is defined as the price that would be received to sell the net assets or transfer the net liabilities in an orderly transaction between market participants at the assessment date. The techniques used in the Company's qualitative assessment incorporate a number of assumptions that the Company believes to be reasonable and to reflect market conditions forecast at the assessment date. Assumptions in estimating future cash flows are subject to a high degree of judgment. The Company makes all efforts to forecast future cash flows as accurately as possible with the information available at the time the forecast is made. To this end, the Company evaluates the appropriateness of its assumptions as well as its overall forecasts by comparing projected results of upcoming years with actual results of preceding years and validating that differences therein are reasonable. Key assumptions, all of which are Level 3 inputs, relate to price trends, material costs, discount rate, customer demand and the long-term growth and foreign exchange rates. A number of benchmarks from independent industry and other economic publications were also used. Changes in assumptions and estimates after the assessment date may lead to an outcome where impairment charges would be required in future periods. Specifically, actual results may vary from the Company’s forecasts and such variations may be material and unfavorable, thereby triggering the need for future impairment tests where the conclusions may differ in reflection of prevailing market conditions. |
Contingencies | Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. As additional information becomes available, any potential liability related to these matters is assessed and the estimates are revised, if necessary. Legal costs incurred in connection with loss contingencies are expensed as incurred. |
Pension and Other Post-retirement Benefits | Annual net periodic expense and benefit liabilities under the Company’s defined benefit plans are determined on an actuarial basis. Assumptions used in the actuarial calculations have a significant impact on plan obligations and expense. Members of the management investment committee periodically review the actual experience compared with the more significant assumptions used and make adjustments to the assumptions, if warranted. The healthcare trend rates are reviewed based upon the results of actual claims experience. The discount rate is determined by analyzing the average return of high-quality (i.e., AA-rated) fixed-income investments and the year-over-year comparison of certain widely used benchmark indices as of the measurement date. The expected long-term rate of return on plan assets is determined using the plans’ current asset allocation and their expected rates of return based on a geometric averaging over 20 years. The rate of compensation increase assumptions reflects the Company’s long-term actual experience and future and near-term outlook. Pension benefits are funded through deposits with trustees or directly by the plan administrator. Other post-retirement benefits are not funded and the Company’s policy is to pay these benefits as they become due. The Company recognizes the funded status of each of its plans in the consolidated balance sheets. Amortization of unrecognized net gain or loss resulting from experience different from that assumed and from changes in assumptions (excluding asset gains and losses not yet reflected in market-related value) is included as a component of net periodic benefit cost for a year if, as of the beginning of the year, that unrecognized net gain or loss exceeds five percent of the greater of the projected benefit obligation or the market-related value of plan assets. If amortization is required, the amortization is that excess divided by the average remaining service period of participating employees expected to receive benefits under the plan. The Company records a curtailment when an event occurs that significantly reduces the expected years of future service or eliminates the accrual of defined benefits for the future services of a significant number of employees. A curtailment gain is recorded when the employees who are entitled to the benefits terminate their employment; a curtailment loss is recorded when it becomes probable a loss will occur. Upon a settlement, the Company recognizes the proportionate amount of the unamortized gains and losses if the cost of all settlements during the year exceeds the interest component of net periodic cost for the affected plan. Expense from curtailments and settlements is recorded in selling and administrative expense on the consolidated statements of operations. |
Noncontrolling Interests and Redeemable Noncontrolling Interests [Policy Text Block] | Noncontrolling interests represent the portion of profit or loss, net assets and comprehensive income that is not allocable to the Company. During 2018, 2017 and 2016, net income attributable to noncontrolling interests primarily represented guaranteed dividends that the Company was obligated to pay to the noncontrolling shareholders of Diebold Nixdorf AG. Noncontrolling interests with redemption features, such as put rights, that are not solely within the Company’s control are considered redeemable noncontrolling interests. Redeemable noncontrolling interests are presented outside of equity on the Company's consolidated balance sheets. The balance of redeemable noncontrolling interests is reported at the greater of its carrying value or its maximum redemption value at each reporting date. Refer to note 12 for more information. Acquired redeemable noncontrolling interests are recorded at fair value by applying the income approach using unobservable inputs for projected cash flows, including but not limited, to net sales and operating profit, and a discount rate, which are considered Level 3 inputs. |
Related Party Transactions, Policy [Text Block] | The Company has certain strategic alliances that are not consolidated. The Company tests these strategic alliances annually, individually and in aggregate, to determine materiality. The Company owns 40.0 percent of Inspur (Suzhou) Financial Information Technology Co., Ltd (Inspur JV) and 43.6 percent of Aisino-Wincor Retail & Banking Systems (Shanghai) Co., Ltd (Aisino JV) as of December 31, 2018. The Company engages in transactions in the ordinary course of business. The Company's strategic alliances are not significant subsidiaries and are accounted for under the equity method of investments. As of December 31, 2018 , the Company had accounts receivable and accounts payable balances with these affiliates of $9.9 and $10.6 , respectively, which is included in trade receivables, less allowances for doubtful accounts and accounts payable, respectively, on the consolidated balance sheets. During the fourth quarter of 2018, the Company recorded a charge of $19.2 for its investment in its Aisino strategic alliance as a result of the weakening banking market in China. The charge was included in equity in (loss) earnings of unconsolidated subsidiaries, net in its consolidated statements of operations. In May 2017, the Company announced a strategic partnership with Kony, which is located in Texas, a leading enterprise mobility and application company, to offer white label mobile application solutions for financial institutions and retailers. The Company acquired a minority equity stake in Kony, which was accounted for using the cost method of accounting. As of December 31, 2018 and 2017, the Company's carrying value in Kony was $14.0 and the fair value was not estimated as there were no events or changes in circumstances in the investment. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Guidance The effects of the adoption of the ASUs listed below did not significantly impact the Company's financial statements: Standards Adopted Description Effective Date ASU 2014-09, Revenue from Contracts with Customers The standard replaced the most previously existing revenue recognition guidance in U.S. GAAP and required additional financial statement disclosures. The standard requires revenue to be recognized when the Company expects to be entitled in exchange for the transfer of promised goods or services to customers. The standard was adopted using a modified retrospective approach to open contracts as of the effective date, January 1, 2018. The standard is intended to reduce potential for diversity in practice at initial application and reducing the cost and complexity of applying Topic 606 both at transition and prospectively. As a result of the adoption, the cumulative increase to the Company's retained earnings at January 1, 2018 was $4.6. January 1, 2018 ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost The standard was issued to address the net presentation of the components of net benefit cost. The standard requires that service cost be presented in the same line item as other current employee compensation costs and that the remaining components of net benefit cost be presented in a separate line item outside of any subtotal for income from operations. The adoption of this update did not have a material impact on the financial statements of the Company. January 1, 2018 ASU 2017-12, Derivatives and Hedging: Target Improvements to Accounting for Hedging Activities The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. For existing hedges as of the date of the adoption, the Company eliminated a minimal amount of ineffectiveness by means of a cumulative-effect adjustment to accumulated other comprehensive income (AOCI) with a corresponding adjustment to retained earnings. As a result of the standard, $2.4 and $(0.6) were included in net sales and cost of sales, respectively, for the year ended December 31, 2018. Early adopted January 1, 2018 ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income The standard allows for reclassification of stranded tax effects on items resulting from the Tax Act from AOCI to retained earnings. Tax effects unrelated to the Tax Act are released from AOCI using either the specific identification approach or the portfolio approach based on the nature of the underlying item. As a result of the adoption, during the first quarter of 2018, the Company recorded an adjustment to retained earnings resulting in an increase of $29.0, with a corresponding decrease to AOCI due to the reduction in the corporate tax rate. Early adopted January 1, 2018 ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The standard simplifies the measurement of goodwill by eliminating step 2 from the goodwill impairment test. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The adoption of this update did not have an impact on the financial statements of the Company and only simplifies the procedure for the goodwill impairment test. Early adopted January 1, 2018 ASU 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs pursuant to SEC Staff Accounting Bulleting No. 118 This guidance amends SEC paragraphs in Topic 740, Income Taxes, to reflect SAB 118, which provides guidance for companies that are not able to complete their accounting for the income tax effects of the Tax Act in the period of enactment. The standard allowed registrants to record provisional amounts in earnings for the year ended December 31, 2017 due to complexities involved in accounting for the enactment of the Tax Act. As of December 31, 2018, the Company has finalized the accounting under SAB 118 as required for the items previously considered provisional. Refer to Note 4 for further information. January 1, 2018 Recently Issued Accounting Guidance The Company has considered the recent ASUs issued by the FASB summarized below, which could significantly impact its financial statements: Standards Pending Adoption Description Effective/Adoption Date Anticipated Impact ASU's 2016-02, 2018-01, 2018-20, Leases The standard requires that a lessee recognize on its balance sheet right-of-use assets and corresponding liabilities resulting from leasing transactions, as well as additional financial statement disclosures. Currently, U.S. GAAP only requires balance sheet recognition for leases classified as capital leases. The provisions of this update apply to substantially all leased assets. ASUs 2018-01 and 2018-20 are updates to this standard, which prescribe a practical expedient for implementation and narrow-scope improvements for lessors. January 1, 2019 The Company evaluated the impact that the standard will have on its financial information and related disclosures. The standard requires a modified retrospective transition method with the option to elect a package of practical expedients, which the Company anticipates utilizing. The Company anticipates a significant balance sheet gross-up for the right-of-use assets and corresponding liabilities, with no anticipated impact to debt covenants. For additional information on the Company’s operating lease commitments, see Note 16. The Company does not expect the two updates have a significant impact on its financial statements. ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income The new standard gives entities the option to reclassify to retained earnings tax effects related to items in accumulated other comprehensive income as a result of the tax reform. The new standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted in any interim period after issuance. The Company is currently evaluating the impact of adopting this guidance. January 1, 2019 As noted above, the Company early adopted in 2018. ASU 2018-13, Fair Value Measurement (Topic 820) -Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement The standard is is designed to improve the effectiveness of disclosures by removing, modifying and adding disclosures related to fair value measurements. January 1, The Company is currently assessing the impact this ASU will have on its consolidated financial statements. The ASU allows for early adoption in any interim period after issuance of the update. ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606 The amendments in this update provide guidance on whether certain transactions between collaborative arrangement participants should be accounted for under Topic 606. January 1, 2020 The Company is currently assessing the impact this ASU will have on its consolidated financial statements. The ASU allows for early adoption in any year end after issuance of the update. ASU 2016-13, Financial Instruments - Credit Losses The amendments in this update replace the incurred loss impairment methodology with the current expected credit loss methodology. This will change the measurement of credit losses on financial instruments and the timing of when such losses are recorded. January 1, 2020 The Company is currently assessing the impact this ASU will have on its consolidated financial statements. The ASU allows for early adoption as of the fiscal years beginning after December 31, 2018. ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General Subtopic 715-20 - Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans The standard is designed to improve the effectiveness of disclosures by removing and adding disclosures related to defined benefit plans. January 1, 2021 The Company is currently assessing the impact this ASU will have on its consolidated financial statements. The ASU allows for early adoption in any year end after issuance of the update. |
Share-Based Compensation and _2
Share-Based Compensation and Equity Share-Based Compensation and Equity (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Share-Based Compensation and Equity Policy [Abstract] | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | The Company recognizes costs resulting from all share-based payment transactions based on the fair market value of the award as of the grant date. Awards are valued at fair value and compensation cost is recognized on a straight-line basis over the requisite periods of each award. The Company estimated forfeiture rates are based on historical experience. To cover the exercise and/or vesting of its share-based payments, the Company generally issues new shares from its authorized, unissued share pool. |
Allowance for Credit Losses (Po
Allowance for Credit Losses (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans and Leases Receivable, Nonaccrual Loan and Lease Status, Policy [Policy Text Block] | The Company records interest income and any fees or costs related to financing receivables using the effective interest method over the term of the lease or loan. The Company reviews the aging of its financing receivables to determine past due and delinquent accounts. Credit quality is reviewed at inception and is re-evaluated as needed based on customer-specific circumstances. Receivable balances 60 days to 89 days past due are reviewed and may be placed on nonaccrual status based on customer-specific circumstances. Receivable balances are placed on nonaccrual status upon reaching greater than 89 days past due. Upon receipt of payment on nonaccrual financing receivables, interest income is recognized and accrual of interest is resumed once the account has been made current or the specific circumstances have been resolved. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Summary of Significant Accounting Policies [Abstract] | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | During 2018, the Company identified immaterial errors in prior periods presented for certain inventory balances, goodwill and various other items. Management determined these errors were not material to any prior period and the accompanying consolidated financial statements for 2017 and 2016 have been adjusted. These corrections were recorded within the Company's Eurasia Banking, Americas Banking and Retail reportable operating segments. As a result of applying the corrections retrospectively, previously reported balances within certain financial statement line items were increased (decreased) as follows: Years Ended December 31, 2017 2016 (in millions, except per share data) Results of operations Cost of sales - Services $ 8.4 $ 8.0 Cost of sales - Products $ 1.5 $ 2.0 Income tax benefit $ (1.5 ) $ (1.4 ) Net loss attributable to Diebold Nixdorf, Incorporated $ (8.4 ) $ (8.6 ) Basic and diluted loss per common share $ (0.11 ) $ (0.12 ) Consolidated balance sheet data Trade receivables, less allowances for doubtful accounts $ (2.2 ) Inventories $ (22.5 ) Other current assets $ (3.5 ) Deferred revenue $ (1.0 ) Other current liabilities $ (2.7 ) Total equity $ (24.5 ) |
Contract with Customer, Asset and Liability [Table Text Block] | The following table provides 2018 information about receivables and deferred revenue, which represent contract liabilities from contracts with customers: Contract balance information Trade Receivables Contract liabilities Balance at January 1 $ 827.9 $ 436.5 Balance at December 31 $ 737.2 $ 378.2 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | The following table summarize the impacts of adopting Topic 606 on the Company’s consolidated financial statements as of and for the period ended December 31, 2018 as if the Company continued to follow its accounting policies under the previous revenue recognition guidance. Impact of changes in accounting policy for the twelve months ended December 31, 2018 As Reported Adjustments Balances without adoption of Topic 606 Trade receivables, less allowances for doubtful accounts of $58.2 and $71.7, respectively $ 737.2 $ (3.9 ) $ 733.3 Inventories $ 610.1 $ 24.2 $ 634.3 Deferred revenue $ 378.2 $ 30.7 $ 408.9 Deferred income taxes $ 221.6 $ (0.7 ) $ 220.9 Retained earnings (accumulated deficit) $ (168.3 ) $ (9.8 ) $ (178.1 ) |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Computation of earnings (loss) per share under the treasury stock method and the effect on the weighted-average number of shares of dilutive potential common stock: | The following table represents amounts used in computing earnings (loss) per share and the effect on the weighted-average number of shares of dilutive potential common shares for the years ended December 31: 2018 2017 2016 Numerator Income (loss) used in basic and diluted earnings (loss) per share Loss from continuing operations, net of tax $ (566.0 ) $ (213.9 ) $ (179.3 ) Net income attributable to noncontrolling interests, net of tax 2.7 27.6 6.0 Loss before discontinued operations, net of tax (568.7 ) (241.5 ) (185.3 ) Income from discontinued operations, net of tax — — 143.7 Net loss attributable to Diebold Nixdorf, Incorporated $ (568.7 ) $ (241.5 ) $ (41.6 ) Denominator Weighted-average number of common shares used in basic and diluted earnings (loss) per share (1) 76.0 75.5 69.1 Basic and diluted earnings (loss) per share Loss before discontinued operations, net of tax $ (7.48 ) $ (3.20 ) $ (2.68 ) Income from discontinued operations, net of tax — — 2.08 Net loss attributable to Diebold Nixdorf, Incorporated $ (7.48 ) $ (3.20 ) $ (0.60 ) Anti-dilutive shares Anti-dilutive shares not used in calculating diluted weighted-average shares 4.5 3.4 2.1 (1) Incremental shares of 0.7 , 0.7 and 0.6 were excluded from the computation of diluted loss per share for the years ended December 31, 2018, 2017 and 2016, respectively, because their effect is anti-dilutive due to the loss from continuing operations. |
Share-Based Compensation and _3
Share-Based Compensation and Equity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | The following table summarizes the components of the Company’s employee and non-employee directors share-based compensation programs recognized as selling and administrative expense for the years ended December 31: 2018 2017 2016 Stock options Pre-tax compensation expense $ 2.8 $ 4.6 $ 2.7 Tax benefit (0.6 ) (1.3 ) (0.9 ) Stock option expense, net of tax $ 2.2 $ 3.3 $ 1.8 RSU's Pre-tax compensation expense $ 19.8 $ 16.4 $ 10.7 Tax benefit (4.3 ) (4.0 ) (3.1 ) RSU expense, net of tax $ 15.5 $ 12.4 $ 7.6 Performance shares Pre-tax compensation expense $ 14.0 $ 12.9 $ 8.8 Tax benefit (3.3 ) (3.0 ) (3.0 ) Performance share expense, net of tax $ 10.7 $ 9.9 $ 5.8 Total share-based compensation Pre-tax compensation expense $ 36.6 $ 33.9 $ 22.2 Tax benefit (8.2 ) (8.3 ) (7.0 ) Total share-based compensation, net of tax $ 28.4 $ 25.6 $ 15.2 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards | The following table summarizes information related to unrecognized share-based compensation costs as of December 31, 2018 : Unrecognized Weighted-Average Period (years) Stock options $ 1.3 1.2 RSUs 12.3 1.2 Performance shares 12.1 1.6 $ 25.7 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The estimated fair value of the options granted was calculated using a Black-Scholes option pricing model using the following assumptions: 2018 2017 2016 Expected life (in years) 3 3 6 Weighted-average volatility 36 % 31 % 28 % Risk-free interest rate 2.39-2.42% 1.28 % 1.50 % Expected dividend yield 2.24 % 1.65 % 3.10 % |
Options outstanding and exercisable under the Company's 1991 Equity and Performance Incentive Plan | Options outstanding and exercisable as of December 31, 2018 and changes during the year ended were as follows: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (1) (per share) (in years) Outstanding at January 1, 2018 2.3 $ 29.68 Expired or forfeited (0.3 ) $ 29.50 Granted 0.5 $ 17.53 Outstanding at December 31, 2018 2.5 $ 27.05 7 $ — Options exercisable at December 31, 2018 1.5 $ 30.34 6 $ — Options vested and expected to vest (2) at December 31, 2018 2.4 $ 27.21 7 $ — (1) The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company’s closing share price on the last trading day of the year in 2018 and the exercise price, multiplied by the number of “in-the-money” options) that would have been received by the option holders had all option holders exercised their options on December 31, 2018 . The amount of aggregate intrinsic value will change based on the fair market value of the Company’s common shares. (2) The expected to vest options are the result of applying the pre-vesting forfeiture rate assumption to total outstanding non-vested options. |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | Non-vested RSUs outstanding as of December 31, 2018 and changes during the year ended were as follows: Number of Weighted-Average Non-vested at January 1, 2018 1.3 $ 27.76 Forfeited (0.3 ) $ 21.87 Vested (0.7 ) $ 28.76 Granted (1) 1.3 $ 17.34 Non-vested at December 31, 2018 1.6 $ 19.66 (1) The RSUs granted during the year ended December 31, 2018 included 0.1 one -year RSUs to non-employee directors under the 1991 Plan. These RSUs had a weighted-average, grant-date fair value of $14.98 . |
Schedule of Nonvested Performance-based Units Activity | Non-vested performance shares outstanding as of December 31, 2018 and changes during the year ended were as follows: Number of Weighted-Average Non-vested at January 1, 2018 (1) 2.5 $ 31.37 Forfeited (0.9 ) $ 28.81 Vested (0.2 ) $ 32.38 Granted 1.6 $ 22.65 Non-vested at December 31, 2018 3.0 $ 26.90 (1) Non-vested performance shares are based on a maximum potential payout. Actual shares vested at the end of the performance period may be less than the maximum potential payout level depending on achievement of the performance objectives, as determined by the Board of Directors. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign | The following table presents components of loss from continuing operations before taxes for the years ended December 31: 2018 2017 2016 Domestic $ (300.9 ) $ (212.6 ) $ (219.2 ) Foreign (214.7 ) 20.7 (29.5 ) Total $ (515.6 ) $ (191.9 ) $ (248.7 ) |
Schedule of Components of Income Tax Expense (Benefit) | The following table presents the components of income tax (benefit) expense for the years ended December 31: 2018 2017 2016 Current U.S. federal $ 0.8 $ (5.9 ) $ (68.6 ) Foreign 49.0 72.9 54.0 State and local 1.9 1.7 (10.6 ) Total current 51.7 68.7 (25.2 ) Deferred U.S. federal 4.6 7.6 3.6 Foreign (19.8 ) (44.9 ) (50.2 ) State and local 0.7 (3.1 ) 2.8 Total deferred (14.5 ) (40.4 ) (43.8 ) Income tax expense (benefit) $ 37.2 $ 28.3 $ (69.0 ) |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense (benefit) attributable to loss from continuing operations before taxes differed from the amounts computed by applying the U.S. federal income tax rate of 21 percent to pre-tax loss from continuing operations for year ended December 31, 2018 as a result of the Tax Act. The applicable U.S. federal rate of 35 percent to pre-tax loss from continuing operations was used for the years ended December 31, 2017 and 2016. The following table presents these differences for the years ended December 31: 2018 2017 2016 Statutory tax benefit $ (108.3 ) $ (67.2 ) $ (87.0 ) Brazil non-taxable incentive (3.8 ) (3.9 ) (5.8 ) Valuation allowances 80.6 10.5 14.9 Goodwill impairment 41.8 — — Foreign tax rate differential (33.7 ) (31.5 ) (10.0 ) Foreign subsidiary earnings 4.9 14.4 13.7 Accrual adjustments 3.1 4.1 1.1 Tax Act - rate impact on deferred tax balance (2.5 ) 45.1 — Tax Act - deemed repatriation tax 32.6 36.6 — Business tax credits (1.1 ) (0.6 ) (0.7 ) Non-deductible (non-taxable) items 18.9 22.1 4.5 Other 4.7 (1.3 ) 0.3 Income tax expense (benefit) $ 37.2 $ 28.3 $ (69.0 ) |
Summary of Income Tax Contingencies | Details of the unrecognized tax benefits are as follows: 2018 2017 Balance at January 1 $ 48.4 $ 43.2 Increases (decreases) related to prior year tax positions, net (1.5 ) 6.1 Increases related to current year tax positions 4.8 7.5 Settlements (1.5 ) (1.8 ) Reductions due to lapse of applicable statute of limitations (0.7 ) (6.6 ) Balance at December 31 $ 49.5 $ 48.4 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company's deferred tax assets and liabilities at December 31 are as follows: 2018 2017 Deferred tax assets Accrued expenses $ 64.0 $ 43.0 Warranty accrual 6.7 13.5 Deferred compensation 9.6 10.6 Allowances for doubtful accounts 3.2 3.8 Inventories 23.9 14.4 Deferred revenue 28.6 38.1 Pensions, post-retirement and other benefits 76.9 82.6 Tax credits 74.1 81.9 Net operating loss carryforwards (NOL's) 160.0 125.9 Capital loss carryforwards 2.6 2.6 State deferred taxes 19.8 17.4 Other — 0.8 469.4 434.6 Valuation allowances (175.4 ) (105.6 ) Net deferred tax assets $ 294.0 $ 329.0 Deferred tax liabilities Property, plant and equipment, net $ 3.5 $ 1.2 Goodwill and intangible assets 245.9 302.8 Undistributed earnings 20.6 16.0 Other 1.7 2.3 Net deferred tax liabilities 271.7 322.3 Net deferred tax asset $ 22.3 $ 6.7 |
Schedule of Deferred Income Taxes by Balance Sheet Account | Deferred income taxes reported in the consolidated balance sheets as of December 31 are as follows: 2018 2017 Deferred income taxes - assets $ 243.9 $ 293.8 Deferred income taxes - liabilities (221.6 ) (287.1 ) Net deferred tax asset $ 22.3 $ 6.7 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Inventory Disclosure [Abstract] | |
Major classes of inventories | The following table summarizes the major classes of inventories as of December 31: 2018 2017 Finished goods $ 211.2 $ 291.0 Service parts 221.6 259.4 Raw materials and work in process 177.3 164.1 Total inventories $ 610.1 $ 714.5 During 2018, the Company re-assessed its inventory and recorded a charge of $74.5 of various finished goods, service parts, and excess and obsolete inventory due to streamlining the Company's product portfolio and optimizing the manufacturing footprint. For December 31, 2017, the Company corrected an immaterial error of $10.9 , $11.2 and $0.4 for finished goods, service parts, and raw materials and work in process, respectively, refer to note 1 for additional details. |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, plant and equipment | The following is a summary of property, plant and equipment, at cost less accumulated depreciation and amortization as of December 31: Estimated Useful Life 2018 2017 Land and land improvements (1) $ 15.6 $ 16.0 Buildings and building improvements 15-30 122.2 112.9 Machinery, tools and equipment 5-12 99.6 108.2 Leasehold improvements (2) 10 26.9 28.3 Computer equipment 3 174.5 153.8 Computer software 5-10 142.9 146.6 Furniture and fixtures 5-8 70.3 73.4 Tooling 3-5 140.9 136.4 Construction in progress 5.3 7.7 Total property plant and equipment, at cost $ 798.2 $ 783.3 Less accumulated depreciation and amortization 494.1 418.8 Total property plant and equipment, net $ 304.1 $ 364.5 (1) Estimated useful life for land and land improvements is perpetual and 15 years, respectively. (2) The estimated useful life for leasehold improvements is the lesser of 10 years or the term of the lease. |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments | The Company’s investments, respectively, consist of the following: Cost Basis Unrealized Gain Fair Value As of December 31, 2018 Short-term investments Certificates of deposit $ 33.5 $ — $ 33.5 Long-term investments Assets held in a rabbi trust $ 6.5 $ (0.2 ) $ 6.3 As of December 31, 2017 Short-term investments Certificates of deposit $ 81.4 $ — $ 81.4 Long-term investments: Assets held in a rabbi trust $ 8.3 $ 1.1 $ 9.4 |
Finance Lease Receivables (Tabl
Finance Lease Receivables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Components For Finance Lease Receivables | The following table presents finance lease receivables sold by the Company for the years ended December 31: 2018 2017 2016 Finance lease receivables sold $ 11.1 $ — $ 7.4 The following table presents the components of finance lease receivables as of December 31: 2018 2017 Gross minimum lease receivable $ 39.0 $ 26.6 Allowance for credit losses (0.4 ) (0.3 ) Estimated unguaranteed residual values 0.4 1.1 39.0 27.4 Less: Unearned interest income (3.0 ) (1.0 ) Unearned residuals (0.1 ) (0.1 ) (3.1 ) (1.1 ) Total $ 35.9 $ 26.3 |
Schedule Of Financing Receivables Minimum Payments | Future minimum payments due from customers under finance lease receivables as of December 31, 2018 are as follows: 2019 $ 10.8 2020 7.7 2021 6.7 2022 5.6 2023 4.9 Thereafter 3.3 $ 39.0 |
Allowance for Credit Losses Val
Allowance for Credit Losses Valuation and Qualifying Accounts Schedule (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | The following table summarizes the Company’s allowances for doubtful accounts: 2018 2017 2016 Balance at January 1 $ 71.7 $ 50.4 $ 31.7 Charged to costs and expenses 22.8 54.9 22.9 Charged to other accounts (1) (4.1 ) 1.4 1.7 Deductions (2) (32.2 ) (35.0 ) (5.9 ) Balance at December 31 $ 58.2 $ 71.7 $ 50.4 |
Goodwill and Other Assets (Tabl
Goodwill and Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The changes in carrying amounts, including an immaterial error correction discussed in note 1, of goodwill within the Company's segments are summarized as follows: Eurasia Banking Americas Banking Retail Total Goodwill $ 592.2 $ 423.8 $ 273.0 $ 1,289.0 Accumulated impairment losses (168.7 ) (122.0 ) — (290.7 ) Balance at January 1, 2017 423.5 301.8 273.0 998.3 Goodwill acquired 2.2 1.8 1.6 5.6 Goodwill adjustment (1.2 ) (1.0 ) (0.7 ) (2.9 ) Currency translation adjustment 46.2 38.3 31.6 116.1 Goodwill 639.4 462.9 305.5 1,407.8 Accumulated impairment losses (168.7 ) (122.0 ) — (290.7 ) Balance at December 31, 2017 470.7 340.9 305.5 1,117.1 Transferred to assets held for sale (0.8 ) (0.3 ) (45.9 ) (47.0 ) Currency translation adjustment (10.0 ) (8.3 ) (7.2 ) (25.5 ) Goodwill 628.6 454.3 252.4 1,335.3 Impairment (153.0 ) — (64.5 ) (217.5 ) Accumulated impairment losses (321.7 ) (122.0 ) (64.5 ) (508.2 ) Balance at December 31, 2018 $ 306.9 $ 332.3 $ 187.9 $ 827.1 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The following summarizes information on intangible assets by major category: December 31, 2018 December 31, 2017 Weighted-average remaining useful lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships, net 6.7 years $ 712.2 $ (179.1 ) $ 533.1 $ 741.5 $ (108.2 ) $ 633.3 Internally-developed software 1.6 years 189.6 (118.9 ) 70.7 192.9 (99.8 ) 93.1 Development costs non-software 0.9 years 52.5 (44.3 ) 8.2 55.3 (35.1 ) 20.2 Other 0.7 years 79.5 (66.9 ) 12.6 84.5 (57.3 ) 27.2 Other intangible assets, net 321.6 (230.1 ) 91.5 332.7 (192.2 ) 140.5 Total $ 1,033.8 $ (409.2 ) $ 624.6 $ 1,074.2 $ (300.4 ) $ 773.8 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The expected annual amortization expense is as follows: Estimated amortization 2019 $ 128.0 2020 108.8 2021 96.2 2022 92.0 2023 88.6 $ 513.6 |
Guarantees and Product Warran_2
Guarantees and Product Warranties (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Guarantees and Product Warranties [Abstract] | |
Changes in warranty liability balance | Changes in the Company’s warranty liability balance are illustrated in the following table: 2018 2017 Balance at January 1 $ 76.7 $ 101.6 Current period accruals 22.5 36.0 Current period settlements (52.3 ) (65.2 ) Currency translation (6.8 ) 4.3 Balance at December 31 $ 40.1 $ 76.7 |
Restructuring (Tables)
Restructuring (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring and Related Costs | The following table summarizes the impact of the Company’s restructuring charges on the consolidated statements of operations for the years ended December 31: 2018 2017 2016 Cost of sales - services $ 17.8 $ 27.3 $ 18.4 Cost of sales - products 10.8 1.9 7.1 Selling and administrative expense 33.4 21.3 28.8 Research, development and engineering expense 3.0 (1.1 ) 5.1 Total $ 65.0 $ 49.4 $ 59.4 |
Restructuring charges (benefits) within continuing operations by reporting segments | The following table summarizes the Company’s restructuring charges by reporting segment for the years ended December 31: 2018 2017 2016 Severance Eurasia Banking $ 37.1 $ 24.6 $ 33.2 Americas Banking 8.9 4.2 13.8 Retail 13.3 14.8 0.7 Corporate 5.7 5.8 11.7 Total $ 65.0 $ 49.4 $ 59.4 |
Cumulative total restructuring costs [Table Text Block] | The following table summarizes the Company's cumulative total restructuring costs from continuing operations as of December 31, 2018 for the respective plans: Severance DN Now DN2020 Plan Delta Program Strategic Alliance Total Eurasia Banking $ 33.3 $ 51.5 $ 0.5 $ 8.2 $ 93.5 Americas Banking 8.6 13.6 0.2 — 22.4 Retail 12.5 15.6 0.7 — 28.8 Corporate 4.5 15.1 1.8 — 21.4 Total $ 58.9 $ 95.8 $ 3.2 $ 8.2 $ 166.1 |
Restructuring accrual balances and related activity | The following table summarizes the Company’s restructuring accrual balances and related activity: Balance at January 1, 2016 $ 4.7 Liabilities incurred 59.4 Liabilities acquired 45.5 Liabilities paid/settled (19.7 ) Balance at December 31, 2016 $ 89.9 Liabilities incurred 49.4 Liabilities acquired (8.2 ) Liabilities paid/settled (77.1 ) Balance at December 31, 2017 $ 54.0 Liabilities incurred 65.0 Liabilities paid/settled (62.1 ) Balance at December 31, 2018 $ 56.9 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Outstanding Debt Balances | Outstanding debt balances were as follows: December 31, 2018 2017 Notes payable – current Uncommitted lines of credit $ 20.9 $ 16.2 Term Loan A Facility — 23.0 Delayed Draw Term Loan A Facility — 17.2 Term Loan A-1 Facility 16.3 — Term Loan B Facility - USD 4.8 4.8 Term Loan B Facility - Euro 4.8 5.0 Other 2.7 0.5 $ 49.5 $ 66.7 Long-term debt Revolving credit facility $ 125.0 $ 75.0 Term Loan A Facility 126.3 178.3 Delayed Draw Term Loan A Facility 160.5 226.6 Term Loan A-1 Facility 625.6 — Term Loan B Facility - USD 413.2 466.7 Term Loan B Facility - Euro 411.9 489.5 2024 Senior Notes 400.0 400.0 Other 2.4 1.4 2,264.9 1,837.5 Long-term deferred financing fees (74.9 ) (50.4 ) $ 2,190.0 $ 1,787.1 |
Schedule Of Cash Flows Related To Debt Borrowings And Repayments [Table Text Block] | The cash flows related to debt borrowings and repayments were as follows: December 31, 2018 2017 Revolving debt borrowings (repayments), net $ 50.0 $ 75.0 Proceeds from Delayed Draw Term Loan A Facility $ — $ 250.0 Proceeds from Term Loan A-1 Facility under the Credit Agreement 650.0 — Proceeds from Term Loan B Facility - Euro — 73.3 International short-term uncommitted lines of credit borrowings 75.9 50.8 Other debt borrowings $ 725.9 $ 374.1 Payments on Term Loan A Facility $ (75.0 ) $ (17.3 ) Payments on Delayed Draw Term Loan A Facility (83.2 ) (6.3 ) Payments on Term Loan A-1 Facility under the Credit Agreement (8.1 ) — Payments on Term Loan B Facility - USD (53.0 ) (326.1 ) Payments on Term Loan B Facility - Euro (55.6 ) (4.6 ) Payments on European Investment Bank — (63.1 ) International short-term uncommitted lines of credit and other repayments (62.8 ) (41.4 ) Other debt repayments $ (337.7 ) $ (458.8 ) |
Schedule of Maturities of Long-term Debt | Maturities of long-term debt as of December 31, 2018 are as follows: Maturities of 2019 $ 49.5 2020 438.2 2021 26.5 2022 603.3 Thereafter 1,196.9 $ 2,314.4 |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interests (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Redeemable Noncontrolling Interests [Abstract] | |
Redeemable Noncontrolling Interest [Table Text Block] | 2018 2017 2016 Balance at January 1 $ 492.1 $ 44.1 $ — Purchase of noncontrolling interests — — 44.1 Other comprehensive income (19.3 ) 32.8 — Redemption value adjustment 2.8 32.0 — Redemption of shares (345.2 ) (3.5 ) — Reclassification of noncontrolling interest — 386.7 — Balance at December 31 $ 130.4 $ 492.1 $ 44.1 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table summarizes the changes in the Company’s AOCI, net of tax, by component for the years ended December 31: Translation Foreign Currency Hedges Interest Rate Hedges Pension and Other Post-Retirement Benefits Other Accumulated Other Comprehensive Loss Balance at December 31, 2016 $ (251.2 ) $ (5.7 ) $ 4.6 $ (89.3 ) $ 0.3 $ (341.3 ) Other comprehensive income (loss) before reclassifications (1) 134.4 0.6 3.9 3.4 (0.2 ) 142.1 Amounts reclassified from AOCI — — (0.4 ) 3.3 — 2.9 Net current period other comprehensive income (loss) 134.4 0.6 3.5 6.7 (0.2 ) 145.0 Balance at December 31, 2017 $ (116.8 ) $ (5.1 ) $ 8.1 $ (82.6 ) $ 0.1 $ (196.3 ) Adoption of accounting standard (9.1 ) (1.0 ) 1.3 (20.2 ) — (29.0 ) Other comprehensive income (loss) before reclassifications (1) (65.6 ) 4.2 (1.4 ) (18.6 ) — (81.4 ) Amounts reclassified from AOCI — — 2.6 0.4 — 3.0 Net current period other comprehensive income (loss) (74.7 ) 3.2 2.5 (38.4 ) — (107.4 ) Balance at December 31, 2018 $ (191.5 ) $ (1.9 ) $ 10.6 $ (121.0 ) $ 0.1 $ (303.7 ) (1) Other comprehensive income (loss) before reclassifications within the translation component excludes (gains)/losses of $3.9 and $(5.9) and translation attributable to noncontrolling interests for December 31, 2018 and 2017 , respectively. |
Reclassification out of Accumulated Other Comprehensive Income (Loss) | The following table summarizes the details about amounts reclassified from AOCI for the years ended December 31: 2018 2017 Amount Reclassified from AOCI Amount Reclassified from AOCI Affected Line Item in the Statement of Operations Interest rate hedges (net of tax of $(0.6) and (0.1), respectively) $ 2.6 $ (0.4 ) Interest expense Pension and post-retirement benefits: Net actuarial losses recognized during the year (net of tax of $(1.1) and $(3.3), respectively) 4.8 2.2 (1) Net actuarial gains (losses) recognized due to settlement (net of tax of $(1.3) and $0.4, respectively) (3.5 ) (0.2 ) (1) Currency impact (net of tax of $(0.3) and $(1.9), respectively) (0.9 ) 1.3 (1) 0.4 3.3 Total reclassifications for the period $ 3.0 $ 2.9 (1) Pension and other post-retirement benefits AOCI components are included in the computation of net periodic benefit cost (refer to note 15 ). |
Acquisitions and Divestitures_2
Acquisitions and Divestitures (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Divestitures [Abstract] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following summarizes select financial information included in income from discontinued operations, net of tax: For the year ended December 31, 2016 Net sales Services $ 16.3 Products 8.5 24.8 Cost of sales Services 15.1 Products 6.9 22.0 Gross profit 2.8 Selling and administrative expense 4.8 Loss from discontinued operations before taxes (2.0 ) Income tax benefit (0.7 ) (1.3 ) Gain on sale of discontinued operations before taxes 239.5 Income tax expense 94.5 Gain on sale of discontinued operations, net of tax 145.0 Income from discontinued operations, net of tax $ 143.7 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |
Schedule of Defined Benefit Plans Disclosures | The following tables set forth the change in benefit obligation, change in plan assets, funded status, consolidated balance sheet presentation and net periodic benefit cost for the Company’s defined benefit pension plans and other benefits at and for the years ended December 31: Retirement Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 2018 2017 Change in benefit obligation Benefit obligation at beginning of year $ 569.0 $ 554.5 $ 452.0 $ 546.9 $ 9.9 $ 10.8 Service cost 3.9 3.9 11.0 10.5 — — Interest cost 20.6 22.9 6.2 5.7 0.4 0.4 Actuarial (gain) loss (41.3 ) 17.9 (3.5 ) 7.5 (1.6 ) (0.5 ) Plan participant contributions — — 1.4 1.3 — — Benefits paid (30.0 ) (30.2 ) (17.3 ) (10.0 ) (0.8 ) (0.8 ) Plan amendments — — — (0.8 ) — — Special termination benefits — — — 0.1 — — Settlements — — (7.7 ) (191.4 ) — — Foreign currency impact — — (18.1 ) 59.2 — — Acquired benefit plans and other — — 2.5 23.0 7.4 — Benefit obligation at end of year 522.2 569.0 426.5 452.0 15.3 9.9 Change in plan assets Fair value of plan assets at beginning of year 378.7 351.7 359.5 482.9 — — Actual return on plan assets (20.3 ) 53.6 2.2 12.7 — — Employer contributions 17.6 3.6 16.9 1.3 0.8 0.8 Plan participant contributions — — 1.4 1.3 — — Benefits paid (30.0 ) (30.2 ) (17.3 ) (10.0 ) (0.8 ) (0.8 ) Foreign currency impact — — (14.4 ) 51.7 — — Acquired benefit plans and other — — 0.3 11.0 — — Settlements — — (7.7 ) (191.4 ) — — Fair value of plan assets at end of year 346.0 378.7 340.9 359.5 — — Funded status $ (176.2 ) $ (190.3 ) $ (85.6 ) $ (92.5 ) $ (15.3 ) $ (9.9 ) Amounts recognized in balance sheets Noncurrent assets $ — $ 0.3 $ — $ 6.9 $ — $ — Current liabilities 3.4 3.5 3.2 3.2 1.1 1.1 Noncurrent liabilities (1) 172.7 187.1 82.4 96.2 14.2 8.8 Accumulated other comprehensive loss: Unrecognized net actuarial gain (loss) (2) (151.3 ) (154.4 ) 19.0 27.7 (6.3 ) (0.5 ) Unrecognized prior service benefit (cost) (2) — — 0.7 0.8 — — Net amount recognized $ 24.8 $ 35.9 $ 105.3 $ 121.0 $ 9.0 $ 9.4 (1) Included in the consolidated balance sheets in pensions, post-retirement and other benefits. (2) Represents amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost. Retirement Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 2018 2017 Change in accumulated other comprehensive loss Balance at beginning of year $ (154.4 ) $ (170.1 ) $ 28.5 $ 27.7 $ (0.5 ) $ (1.1 ) Prior service cost occurring during the year — — — 0.9 — — Net actuarial losses recognized during the year 6.6 5.9 (0.7 ) (0.4 ) — — Net actuarial gains (losses) occurring during the year (3.6 ) 9.8 (4.9 ) 0.7 1.6 0.6 Net actuarial losses recognized due to settlement — — (2.2 ) (0.6 ) — — Acquired benefit plans and other — — (0.3 ) (3.0 ) (7.4 ) — Foreign currency impact — — (0.6 ) 3.2 — — Balance at end of year $ (151.4 ) $ (154.4 ) $ 19.8 $ 28.5 $ (6.3 ) $ (0.5 ) |
Schedule of Net Benefit Costs | Retirement Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2016 2018 2017 2016 2018 2017 2016 Components of net periodic benefit cost Service cost $ 3.9 $ 3.9 $ 3.5 $ 11.0 $ 10.5 $ 5.5 $ — $ — $ — Interest cost 20.6 22.9 24.7 6.2 5.7 2.7 0.4 0.4 0.5 Expected return on plan assets (24.6 ) (25.9 ) (27.0 ) (10.5 ) (4.5 ) (3.5 ) — — — Recognized net actuarial loss 6.6 5.9 5.5 (0.7 ) (0.4 ) — — — 0.2 Curtailment (gain) loss — — — — 0.1 (4.6 ) — — — Settlement gain — — — (2.2 ) (0.6 ) — — — — Net periodic benefit cost $ 6.5 $ 6.8 $ 6.7 $ 3.8 $ 10.8 $ 0.1 $ 0.4 $ 0.4 $ 0.7 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The following table represents information for pension plans with an accumulated benefit obligation in excess of plan assets at December 31: U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 Projected benefit obligation $ 522.2 $ 569.0 $ 426.5 $ 452.0 Accumulated benefit obligation $ 522.2 $ 569.0 $ 409.7 $ 439.5 Fair value of plan assets $ 346.0 $ 378.7 $ 340.9 $ 359.5 |
Schedule of Assumptions Used | The following table represents the weighted-average assumptions used to determine benefit obligations at December 31: Pension Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 2018 2017 Discount rate 4.34 % 3.71 % 1.60 % 1.45 % 4.34 % 3.71 % Rate of compensation increase N/A N/A 2.82 % 2.75 % N/A N/A The following table represents the weighted-average assumptions used to determine periodic benefit cost at December 31: Pension Benefits Other Benefits U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 2018 2017 Discount rate 3.71 % 4.24 % 1.45 % 1.47 % 3.71 % 4.24 % Expected long-term return on plan assets 6.80 % 7.40 % 2.97 % 1.34 % N/A N/A Rate of compensation increase N/A N/A 2.75 % 2.76 % N/A N/A |
Schedule of Health Care Cost Trend Rates | The following table represents assumed healthcare cost trend rates at December 31: 2018 2017 Healthcare cost trend rate assumed for next year 6.5 % 6.8 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.0 % 5.0 % Year that rate reaches ultimate trend rate 2025 2025 |
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | A one-percentage-point change in assumed healthcare cost trend rates results in a minimal impact to total service and interest cost and post-retirement benefit obligation. |
Schedule of Allocation of Plan Assets | The following table summarizes the fair value categorized into a three level hierarchy, as discussed in note 1, based upon the assumptions (inputs) of the Company’s plan assets as of December 31, 2018 : U.S. Plans Non-U.S. Plans Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Cash and short-term investments $ 3.0 $ 3.0 $ — $ — $ 34.0 $ 34.0 $ — $ — Mutual funds 26.8 26.8 — — 125.2 125.2 — — Equity securities U.S. mid cap value — — — — 3.1 3.1 — — U.S. small cap core 17.2 17.2 — — 0.3 0.3 — — International developed markets 34.5 34.5 — — 7.7 7.7 — — Emerging markets 17.8 — 17.8 — 0.4 0.4 — — Fixed income securities U.S. corporate bonds 45.6 — 45.6 — — — — — International corporate bonds — — — — 76.8 1.3 75.5 — U.S. government 7.4 — 7.4 — — — — — Fixed and index funds 0.1 — 0.1 — 14.7 14.7 — — Common collective trusts Real estate (a) 20.8 — — 20.8 5.0 — 5.0 — Other (b) 145.6 — 145.6 — — — — — Alternative investments Multi-strategy hedge funds (c) 19.3 — — 19.3 — — — — Private equity funds (d) 7.9 — — 7.9 — — — — Other alternative investments (e) — — — — 73.7 — 1.9 71.8 Fair value of plan assets at end of year $ 346.0 $ 81.5 $ 216.5 $ 48.0 $ 340.9 $ 186.7 $ 82.4 $ 71.8 The following table summarizes the fair value of the Company’s plan assets as of December 31, 2017 : U.S. Plans Non-U.S. Plans Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Cash and short-term investments $ 3.5 $ 3.5 $ — $ — $ 82.5 $ 82.1 $ 0.4 $ — Mutual funds 32.0 32.0 — — 77.5 77.5 — — Equity securities U.S. mid cap value — — — — 0.7 0.7 — — U.S. small cap core 19.0 19.0 — — — — — — International developed markets 39.3 39.3 — — 11.2 11.2 — — Emerging markets 19.5 — 19.5 — — — — — Fixed income securities U.S. corporate bonds 50.0 — 50.0 — — — — — International corporate bonds — — — — 86.9 5.9 81.0 — U.S. government 7.7 — 7.7 — — — — — Fixed and index funds 0.6 — 0.6 — 11.7 7.4 4.3 — Common collective trusts Real estate (a) 19.2 — — 19.2 4.7 — 4.7 — Other (b) 159.9 — 159.9 — — — — — Alternative investments Multi-strategy hedge funds (c) 18.9 — — 18.9 1.6 — 1.6 — Private equity funds (d) 9.1 — — 9.1 — — — — Other alternative investments (e) — — — — 82.7 — 0.9 81.8 Fair value of plan assets at end of year $ 378.7 $ 93.8 $ 237.7 $ 47.2 $ 359.5 $ 184.8 $ 92.9 $ 81.8 (a) Real estate common collective trust. The objective of the real estate common collective trust (CCT) is to achieve long-term returns through investments in a broadly diversified portfolio of improved properties with stabilized occupancies. As of December 31, 2018 , investments in this CCT, for U.S. plans, included approximately 37 percent office, 23 percent residential, 26 percent retail and 14 percent industrial, cash and other. As of December 31, 2017 , investments in this CCT, for U.S. plans, included approximately 41 percent office, 21 percent residential, 27 percent retail and 11 percent industrial, cash and other. Investments in the real estate CCT can be redeemed once per quarter subject to available cash, with a 30-day notice . (b) Other common collective trusts. At December 31, 2018 , approximately 61 percent of the other CCTs are invested in fixed income securities including approximately 23 percent in mortgage-backed securities, 51 percent in corporate bonds and 26 percent in U.S. Treasury and other. Approximately 39 percent of the other CCTs at December 31, 2018 are invested in Russell 1000 Fund large cap index funds. At December 31, 2017 , approximately 59 percent of the other CCTs are invested in fixed-income securities including approximately 15 percent in mortgage-backed securities, 54 percent in corporate bonds and 31 percent in U.S. Treasury and other. Approximately 41 percent of the other CCTs at December 31, 2017 are invested in Russell 1000 Fund large cap index funds. Investments in fixed-income securities can be redeemed daily . (c) Multi-strategy hedge funds. The objective of the multi-strategy hedge funds is to diversify risks and reduce volatility. At December 31, 2018 and 2017 , investments in this class for U.S. plans include approximately 44 percent and 50 percent long/short equity, respectively, 54 percent and 45 percent arbitrage and event investments, respectively, and 2 percent and 5 percent in directional trading, fixed income and other, respectively. Investments in the multi-strategy hedge fund can be redeemed semi-annually with a 95-day notice . (d) Private equity funds. The objective of the private equity funds is to achieve long-term returns through investments in a diversified portfolio of private equity limited partnerships that offer a variety of investment strategies, targeting low volatility and low correlation to traditional asset classes. As of December 31, 2018 and 2017 , investments in these private equity funds include approximately 43 percent and 42 percent , respectively, in buyout private equity funds that usually invest in mature companies with established business plans, approximately 34 percent and 25 percent , respectively, in special situations private equity and debt funds that focus on niche investment strategies and approximately 23 percent and 33 percent respectively, in venture private equity funds that invest in early development or expansion of business. Investments in the private equity fund can be redeemed only with written consent from the general partner, which may or may not be granted. At December 31, 2018 and 2017 , the Company had unfunded commitments of underlying funds of $5.5 in both years. (e) Other alternative investments. Following the Acquisition, the Company’s plan assets were expanded with a combination of insurance contracts, multi-strategy investment funds and company-owned real estate. The fair value for these assets is determined based on the NAV as reported by the underlying investment manager, insurance companies and the trustees of the CTA. The following table summarizes the Company’s target allocation for these asset classes in 2019 , which are readjusted at least quarterly within a defined range for the U.S., and the Company’s actual pension plan asset allocation as of December 31, 2018 and 2017 : U.S. Plans Non-U.S. Plans Target Actual Target Actual 2019 2018 2017 2019 2018 2017 Equity securities 45% 44% 46% 40% 40% 24% Debt securities 40% 41% 40% 27% 27% 26% Real estate 5% 6% 5% 10% 10% 11% Other 10% 9% 9% 23% 23% 39% Total 100% 100% 100% 100% 100% 100% |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | The following table summarizes the changes in fair value of level 3 assets for the years ended December 31: U.S. Plans Non-U.S. Plans 2018 2017 2018 2017 Balance, January 1 $ 47.2 $ 47.4 $ 81.8 $ 230.6 Dispositions (2.8 ) (4.3 ) 4.9 (175.3 ) Realized and unrealized gain (loss), net 3.6 4.1 (14.9 ) 26.5 Balance, December 31 $ 48.0 $ 47.2 $ 71.8 $ 81.8 |
Schedule of Amounts Expected To Be Recognized in Other Comprehensive Income (Loss) | The following table represents the amortization amounts expected to be recognized during 2019 : U.S. Pension Benefits Non-U.S. Pension Benefits Other Benefits Amount of net loss (gain) $ 5.0 $ (1.5 ) $ — |
Schedule of Expected Benefit Payments | The following benefit payments, which reflect expected future service, are expected to be paid: U.S. Pension Benefits Non-U.S. Pension Benefits Other Benefits Other Benefits 2019 $ 28.4 $ 30.8 $ 0.9 $ 0.8 2020 $ 29.1 $ 27.9 $ 0.9 $ 0.8 2021 $ 29.8 $ 27.9 $ 0.8 $ 0.8 2022 $ 30.4 $ 25.1 $ 0.8 $ 0.7 2023 $ 30.9 $ 31.7 $ 0.8 $ 0.7 2024-2028 $ 160.4 $ 132.9 $ 3.1 $ 2.8 |
Schedule of Defined Contribution Plan, Employer Matching Contribution | The Company's basic match is 60 percent of the first 6 percent of a participant's qualified contributions, subject to IRS limits. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Leases [Abstract] | |
Operating Leases of Lessee Disclosure | The Company’s future minimum lease payments due under non-cancellable operating leases for real estate, vehicles and other equipment at December 31, 2018 are as follows: Total Real Estate Vehicles and Equipment (a) 2019 $ 81.4 $ 50.0 $ 31.4 2020 57.6 33.8 23.8 2021 35.9 26.8 9.1 2022 22.9 19.6 3.3 2023 17.4 16.0 1.4 Thereafter 8.6 8.6 — $ 223.8 $ 154.8 $ 69.0 (a) The Company leases vehicles with contractual terms of 36 to 60 months that are cancellable after 12 months without penalty. Future minimum lease payments reflect only the minimum payments of the historical average holding period of these vehicles. |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Gain (loss) recognized on non-designated derivative instruments | The Company uses derivatives to mitigate the economic consequences associated with fluctuations in currencies and interest rates. The following table summarizes the gain (loss) recognized on derivative instruments: Derivative instrument Classification on consolidated statement of operations 2018 2017 2016 Non-designated hedges and interest rate swaps Interest expense $ (2.9 ) $ (4.3 ) $ (5.1 ) Foreign currency option contracts gain - acquisition related Miscellaneous, net — — 35.6 Foreign exchange forward contracts and cash flow hedges Net sales 2.4 — — Foreign exchange forward contracts and cash flow hedges Cost of Sales 0.6 — — Foreign exchange forward contracts and cash flow hedges Foreign exchange gain (loss), net (10.4 ) 6.3 4.4 Foreign exchange forward contracts - acquisition related Miscellaneous, net — — (26.4 ) Total $ (10.3 ) $ 2.0 $ 8.5 |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | As of December 31, 2018 , the Company had the following outstanding foreign currency derivatives that were used to hedge its foreign exchange risks: Foreign Currency Derivative Number of Instruments Notional Sold Notional Purchased Currency forward agreements (EUR-GBP) 12 27.5 GBP 30.9 EUR |
Fair Value of Assets and Liab_2
Fair Value of Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Summary of Assets and Liabilities Recorded at Fair Market Value | Assets and liabilities subject to fair value measurement by fair value level and recorded at fair value are as follows: Classification on consolidated balance sheets December 31, 2018 December 31, 2017 Level 1 Level 2 Level 1 Level 2 Assets Certificates of deposit Short-term investments $ 33.5 $ — $ 81.4 $ — Assets held in rabbi trusts Securities and other investments 6.3 — 9.4 — Foreign exchange forward contracts Other current assets — 3.4 — 6.7 Interest rate swaps Other current assets — 5.3 — 2.2 Interest rate swaps Securities and other investments — 4.8 — 7.6 Total $ 39.8 $ 13.5 $ 90.8 $ 16.5 Liabilities Foreign exchange forward contracts Other current liabilities $ — $ 3.1 $ — $ 10.2 Interest rate swaps Other current liabilities — 3.6 — 5.5 Deferred compensation Other liabilities 6.3 — 9.4 — Total $ 6.3 $ 6.7 $ 9.4 $ 15.7 |
Fair value and carrying value of the Company's debt instruments | December 31, 2018 December 31, 2017 Fair Value Carrying Value Fair Value Carrying Value 2024 Senior Notes $ 242.0 $ 400.0 $ 425.0 $ 400.0 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Summary of Segment Information | The following tables represent information regarding the Company’s segment information and provides a reconciliation between segment operating profit and the consolidated loss from continuing operations before income taxes for the years ended December 31: 2018 2017 2016 Net sales summary by segment Eurasia Banking $ 1,800.2 $ 1,903.4 $ 1,232.6 Americas Banking 1,515.7 1,525.6 1,567.3 Retail 1,262.7 1,180.3 516.4 Total customer revenues $ 4,578.6 $ 4,609.3 $ 3,316.3 Intersegment revenues Eurasia Banking $ 161.1 $ 105.0 $ 63.5 Americas Banking 13.8 25.9 38.5 Retail — — — Total intersegment revenues $ 174.9 $ 130.9 $ 102.0 Segment operating profit Eurasia Banking $ 147.1 $ 126.8 $ 88.2 Americas Banking 27.6 68.1 101.8 Retail 50.3 87.9 34.0 Total segment operating profit $ 225.0 $ 282.8 $ 224.0 Corporate charges not allocated to segments (1) $ (62.7 ) $ (62.6 ) $ (69.3 ) Impairment of assets (217.5 ) (3.1 ) (9.8 ) Restructuring charges (65.0 ) (49.4 ) (59.4 ) Net non-routine expense (242.7 ) (261.2 ) (255.3 ) (587.9 ) (376.3 ) (393.8 ) Operating loss (362.9 ) (93.5 ) (169.8 ) Other expense (152.7 ) (98.4 ) (78.9 ) Loss from continuing operations before taxes $ (515.6 ) $ (191.9 ) $ (248.7 ) (1) Corporate charges not allocated to segments include headquarter-based costs associated with procurement, human resources, compensation and benefits, finance and accounting, global development/engineering, global strategy/mergers and acquisitions, global IT, tax, treasury and legal. |
Revenue from External Customers by Products and Services | The following table presents information regarding the Company’s segment net sales by service and product solution: 2018 2017 2016 Eurasia Banking Services $ 1,111.8 $ 1,133.1 $ 637.3 Products 688.4 770.3 595.3 Total Eurasia Banking 1,800.2 1,903.4 1,232.6 Americas Banking Services 1,025.8 1,043.9 1,068.1 Products 489.9 481.7 499.2 Total Americas Banking 1,515.7 1,525.6 1,567.3 Retail Services 651.9 608.3 202.6 Products 610.8 572.0 313.8 Total Retail 1,262.7 1,180.3 516.4 Total $ 4,578.6 $ 4,609.3 $ 3,316.3 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Below is a summary of net sales by point of origin for the years ended December 31: 2018 2017 2016 Americas United States $ 1,047.7 $ 1,049.5 $ 1,093.6 Other Americas 556.7 556.3 568.7 Total Americas 1,604.4 1,605.8 1,662.3 EMEA Germany 876.2 843.0 329.4 Other EMEA 1,583.8 1,537.1 853.8 Total EMEA 2,460.0 2,380.1 1,183.2 AP Total AP 514.2 623.4 470.8 Total net sales $ 4,578.6 $ 4,609.3 $ 3,316.3 Below is a summary of property, plant and equipment, net by geographical location as of December 31: 2018 2017 2016 Property, plant and equipment, net United States $ 77.8 $ 91.7 $ 111.2 Germany 168.2 205.3 199.7 Other international 58.1 67.5 76.1 Total property, plant and equipment, net $ 304.1 $ 364.5 $ 387.0 |
Disaggregation of Revenue [Table Text Block] | In the following table, revenue is disaggregated by timing of revenue recognition at December 31: Timing of revenue recognition 2018 2017 Products transferred at a point in time 39% 40% Products and services transferred over time 61% 60% Net sales 100% 100% |
Quarterly Financial Informati_2
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | The following table presents selected unaudited quarterly financial information for the years ended December 31: First Quarter Second Quarter Third Quarter Fourth Quarter 2018 2017 2018 2017 2018 2017 2018 2017 Net sales $ 1,064.2 $ 1,102.8 $ 1,105.6 $ 1,133.9 $ 1,119.0 $ 1,122.7 $ 1,289.8 $ 1,249.9 Gross profit 238.4 239.8 217.7 237.1 227.0 236.8 207.8 286.1 Net loss (65.6 ) (54.5 ) (128.3 ) (24.1 ) (244.6 ) (32.6 ) (127.5 ) (102.7 ) Net income (loss) attributable to noncontrolling interests 7.6 6.6 5.1 7.0 (6.1 ) 6.6 (3.9 ) 7.4 Net loss attributable to Diebold Nixdorf, Incorporated $ (73.2 ) $ (61.1 ) $ (133.4 ) $ (31.1 ) $ (238.5 ) $ (39.2 ) $ (123.6 ) $ (110.1 ) Basic and diluted loss per share Net loss attributable to Diebold Nixdorf, Incorporated $ (0.97 ) $ (0.81 ) $ (1.76 ) $ (0.41 ) $ (3.13 ) $ (0.52 ) $ (1.62 ) $ (1.46 ) Basic and diluted weighted-average shares outstanding 75.8 75.3 76.0 75.5 76.1 75.5 76.1 75.5 During 2018, the Company recorded goodwill impairment charges (as adjusted) of $83.1 and $134.4 in the second and third quarters, respectively, which contributed to the increased net loss compared to the same periods in 2017. In addition to the goodwill impairments, interest expense increased related to higher average outstanding balances throughout the year. During 2018, the Company identified immaterial errors in prior periods for certain inventory balances, goodwill and various other items. Management determined that the correction of these errors were not material to each prior period. Refer to note 1 for further details on these adjustments. As a result of applying the correction retrospectively, previously reported balances within certain financial statement line items were increased (decreased) as follows: First Quarter Second Quarter Third Quarter Fourth Quarter 2018 2017 2018 2017 2018 2017 2017 Results of operations Cost of sales - Services $ 1.7 $ 2.3 $ 1.6 $ 0.4 $ 0.5 $ 2.8 $ 1.9 Cost of sales - Products $ 0.8 $ 0.4 $ 0.4 $ 0.3 $ 0.8 $ 0.4 $ 0.4 Impairment of assets $ — $ — $ (6.9 ) $ — $ 25.1 $ — $ — Income tax benefit $ (0.2 ) $ (0.4 ) $ (0.2 ) $ (0.2 ) $ (0.5 ) $ (0.4 ) $ (0.5 ) Net income (loss) attributable to Diebold Nixdorf, Incorporated $ (2.3 ) $ (2.4 ) $ 5.1 $ (0.4 ) $ (25.9 ) $ (3.8 ) $ (1.9 ) Basic and diluted earnings (loss) per common share $ (0.03 ) $ (0.03 ) $ 0.07 $ (0.01 ) $ (0.34 ) $ (0.05 ) $ (0.03 ) Consolidated balance sheet data Trade receivables, less allowances for doubtful accounts $ (2.3 ) $ (2.0 ) $ (2.3 ) $ (2.0 ) $ (2.3 ) $ (2.1 ) $ (2.2 ) Inventories $ (24.9 ) $ (16.3 ) $ (26.6 ) $ (16.7 ) $ (18.5 ) $ (20.5 ) $ (22.5 ) Other current assets $ (3.5 ) $ (2.7 ) $ (3.8 ) $ (3.1 ) $ (3.9 ) $ (3.4 ) $ (3.5 ) Goodwill $ — $ — $ 6.9 $ — $ (18.2 ) $ — $ — Deferred revenue $ (1.0 ) $ (1.0 ) $ (1.0 ) $ (1.0 ) $ (1.0 ) $ (1.0 ) $ (1.0 ) Other current liabilities $ (2.8 ) $ (1.8 ) $ (2.9 ) $ (2.1 ) $ (3.0 ) $ (2.5 ) $ (2.7 ) Redeemable noncontrolling interests $ 1.1 $ — $ 13.6 $ — $ 17.1 $ — $ — Total equity $ (28.0 ) $ (18.2 ) $ (35.5 ) $ (18.7 ) $ (56.0 ) $ (22.5 ) $ (24.5 ) |
Supplemental Guarantor Inform_2
Supplemental Guarantor Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Supplemental Guarantor Information [Abstract] | |
Condensed Balance Sheet [Table Text Block] | Balance Sheets As of December 31, 2018 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated ASSETS Current assets Cash, cash equivalents and restricted cash $ 17.3 $ 2.7 $ 438.4 $ — $ 458.4 Short-term investments — — 33.5 — 33.5 Trade receivables, net 105.7 0.1 631.4 — 737.2 Intercompany receivables 205.3 606.3 425.1 (1,236.7 ) — Inventories 164.8 — 445.3 — 610.1 Prepaid expenses 16.4 0.1 40.9 — 57.4 Other current assets 20.4 12.5 299.6 (25.7 ) 306.8 Total current assets 529.9 621.7 2,314.2 (1,262.4 ) 2,203.4 Securities and other investments 22.4 — — — 22.4 Property, plant and equipment, net 76.9 0.8 226.4 — 304.1 Deferred income taxes 139.9 6.2 97.8 — 243.9 Goodwill 58.1 — 769.0 — 827.1 Intangible assets, net 30.8 — 593.8 — 624.6 Investment in subsidiaries 2,702.1 — — (2,702.1 ) — Other assets 30.2 0.4 69.3 (13.5 ) 86.4 Total assets $ 3,590.3 $ 629.1 $ 4,070.5 $ (3,978.0 ) $ 4,311.9 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current liabilities Notes payable $ 25.7 $ 0.1 $ 23.7 $ — $ 49.5 Accounts payable 88.1 — 421.4 — 509.5 Intercompany payable 1,030.8 60.8 145.1 (1,236.7 ) — Deferred revenue 116.6 0.1 261.5 — 378.2 Payroll and other benefits liabilities 26.7 1.3 156.3 — 184.3 Other current liabilities 114.2 1.5 352.4 (21.2 ) 446.9 Total current liabilities 1,402.1 63.8 1,360.4 (1,257.9 ) 1,568.4 Long-term debt 2,172.5 — 17.5 — 2,190.0 Pensions, post-retirements and other benefits 183.7 — 90.1 — 273.8 Deferred income taxes 10.0 — 211.6 — 221.6 Other long-term liabilities 8.4 — 96.9 (18.0 ) 87.3 Commitments and contingencies Redeemable noncontrolling interests — — 130.4 — 130.4 Total Diebold Nixdorf, Incorporated shareholders' equity (186.4 ) 565.3 2,136.8 (2,702.1 ) (186.4 ) Noncontrolling interests — — 26.8 — 26.8 Total liabilities and equity $ 3,590.3 $ 629.1 $ 4,070.5 $ (3,978.0 ) $ 4,311.9 Condensed Consolidating Balance Sheets As of December 31, 2017 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated ASSETS Current assets Cash, cash equivalents and restricted cash $ 58.5 $ 2.3 $ 482.4 $ — $ 543.2 Short-term investments — — 81.4 — 81.4 Trade receivables, net 140.7 1.4 685.8 — 827.9 Intercompany receivables 106.7 638.4 384.0 (1,129.1 ) — Inventories 159.4 — 555.1 — 714.5 Prepaid expenses 15.7 1.0 49.0 — 65.7 Other current assets 19.7 16.0 233.6 (21.8 ) 247.5 Total current assets 500.7 659.1 2,471.3 (1,150.9 ) 2,480.2 Securities and other investments 96.8 — — — 96.8 Property, plant and equipment, net 89.6 2.1 272.8 — 364.5 Deferred income taxes 150.8 8.0 135.0 — 293.8 Goodwill 55.5 — 1,061.6 — 1,117.1 Intangible assets, net 37.5 — 736.3 — 773.8 Investment in subsidiaries 2,810.9 — — (2,810.9 ) — Other assets 47.2 1.1 74.0 (26.5 ) 95.8 Total assets $ 3,789.0 $ 670.3 $ 4,751.0 $ (3,988.3 ) $ 5,222.0 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current liabilities Notes payable $ 49.9 $ 0.3 $ 16.5 $ — $ 66.7 Accounts payable 88.1 0.1 474.0 — 562.2 Intercompany payable 1,019.5 22.2 87.4 (1,129.1 ) — Deferred revenue 115.8 0.6 320.1 — 436.5 Payroll and other benefits liabilities 26.1 2.2 170.6 — 198.9 Other current liabilities 112.4 2.8 438.0 (21.8 ) 531.4 Total current liabilities 1,411.8 28.2 1,506.6 (1,150.9 ) 1,795.7 Long-term debt 1,710.6 0.1 76.4 — 1,787.1 Pensions, post-retirements and other benefits 199.7 — 66.7 — 266.4 Deferred income taxes 10.0 — 277.1 — 287.1 Other long-term liabilities 11.4 — 126.4 (26.5 ) 111.3 Commitments and contingencies Redeemable noncontrolling interests — — 492.1 — 492.1 Total Diebold Nixdorf, Incorporated shareholders' equity 445.5 642.0 2,168.9 (2,810.9 ) 445.5 Noncontrolling interests — — 36.8 — 36.8 Total liabilities and equity $ 3,789.0 $ 670.3 $ 4,751.0 $ (3,988.3 ) $ 5,222.0 |
Condensed Income Statement [Table Text Block] | Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2018 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net sales $ 2,158.9 $ 0.5 $ 2,419.3 $ (0.1 ) $ 4,578.6 Cost of sales 1,994.1 1.9 1,691.8 (0.1 ) 3,687.7 Gross profit (loss) 164.8 (1.4 ) 727.5 — 890.9 Selling and administrative expense 306.6 4.9 574.1 — 885.6 Research, development and engineering expense 2.8 44.6 110.0 — 157.4 Impairment of assets — — 217.5 — 217.5 (Gain) loss on sale of assets, net (3.4 ) 0.1 (3.4 ) — (6.7 ) 306.0 49.6 898.2 — 1,253.8 Operating loss (141.2 ) (51.0 ) (170.7 ) — (362.9 ) Other income (expense) Interest income 0.3 0.1 8.3 — 8.7 Interest expense (140.7 ) — (14.2 ) — (154.9 ) Foreign exchange (loss) gain, net (17.3 ) (0.2 ) 15.0 — (2.5 ) Miscellaneous, net 36.4 1.3 (41.7 ) — (4.0 ) Loss from continuing operations before taxes (262.5 ) (49.8 ) (203.3 ) — (515.6 ) Income tax (benefit) expense 18.8 (10.2 ) 28.6 — 37.2 Equity in (loss) earnings of unconsolidated subsidiaries, net (287.4 ) — (13.2 ) 287.4 (13.2 ) Net (loss) income (568.7 ) (39.6 ) (245.1 ) 287.4 (566.0 ) Income attributable to noncontrolling interests, net of tax — — 2.7 — 2.7 Net (loss) income attributable to Diebold Nixdorf, Incorporated $ (568.7 ) $ (39.6 ) $ (247.8 ) $ 287.4 $ (568.7 ) Comprehensive (loss) income $ (676.1 ) $ (39.6 ) $ (339.3 ) $ 377.7 $ (677.3 ) Less: comprehensive loss attributable to noncontrolling interests — — (1.2 ) — (1.2 ) Comprehensive (loss) income attributable to Diebold Nixdorf, Incorporated $ (676.1 ) $ (39.6 ) $ (338.1 ) $ 377.7 $ (676.1 ) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2017 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net sales $ 1,126.4 $ 7.4 $ 3,480.6 $ (5.1 ) $ 4,609.3 Cost of sales 902.0 12.3 2,700.3 (5.1 ) 3,609.5 Gross profit (loss) 224.4 (4.9 ) 780.3 — 999.8 Selling and administrative expense 283.8 10.5 639.4 — 933.7 Research, development and engineering expense 3.1 40.6 111.8 — 155.5 Impairment of assets 3.1 — — — 3.1 Loss on sale of assets, net 0.5 0.4 0.1 — 1.0 290.5 51.5 751.3 — 1,093.3 Operating (loss) profit (66.1 ) (56.4 ) 29.0 — (93.5 ) Other income (expense) Interest income 2.3 0.2 17.8 — 20.3 Interest expense (108.7 ) — (8.6 ) — (117.3 ) Foreign exchange loss, net (0.5 ) (0.1 ) (3.3 ) — (3.9 ) Miscellaneous, net 6.2 7.7 (11.1 ) (0.3 ) 2.5 (Loss) income from continuing operations before taxes (166.8 ) (48.6 ) 23.8 (0.3 ) (191.9 ) Income tax (benefit) expense 36.1 (15.5 ) 7.7 — 28.3 Equity in (loss) earnings of unconsolidated subsidiaries, net (38.6 ) — 6.3 38.6 6.3 Net (loss) income (241.5 ) (33.1 ) 22.4 38.3 (213.9 ) Income attributable to noncontrolling interests, net of tax — — 27.6 — 27.6 Net (loss) income attributable to Diebold Nixdorf, Incorporated $ (241.5 ) $ (33.1 ) $ (5.2 ) $ 38.3 $ (241.5 ) Comprehensive (loss) income $ (96.5 ) $ (33.1 ) $ 193.7 $ (127.1 ) $ (63.0 ) Less: comprehensive income attributable to noncontrolling interests — — 33.5 — 33.5 Comprehensive (loss) income attributable to Diebold Nixdorf, Incorporated $ (96.5 ) $ (33.1 ) $ 160.2 $ (127.1 ) $ (96.5 ) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2016 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net sales $ 1,137.1 $ 85.0 $ 2,177.4 $ (83.2 ) $ 3,316.3 Cost of sales 888.5 84.2 1,714.2 (82.3 ) 2,604.6 Gross profit (loss) 248.6 0.8 463.2 (0.9 ) 711.7 Selling and administrative expense 314.4 11.6 435.2 — 761.2 Research, development and engineering expense 7.9 45.7 56.6 — 110.2 Impairment of assets — 5.1 4.7 — 9.8 Loss (Gain) on sale of assets, net 0.3 (0.1 ) 0.1 — 0.3 322.6 62.3 496.6 — 881.5 Operating loss (74.0 ) (61.5 ) (33.4 ) (0.9 ) (169.8 ) Other income (expense) Interest income 2.5 0.6 18.4 — 21.5 Interest expense (95.1 ) (0.1 ) (6.2 ) — (101.4 ) Foreign exchange (loss) gain, net (3.5 ) (0.1 ) 1.5 — (2.1 ) Miscellaneous, net (3.2 ) 7.8 (0.5 ) (1.0 ) 3.1 Loss from continuing operations before taxes (173.3 ) (53.3 ) (20.2 ) (1.9 ) (248.7 ) Income (benefit) tax expense (54.8 ) (28.6 ) 14.4 — (69.0 ) Equity in (loss) earnings of unconsolidated subsidiaries, net (58.3 ) — 0.4 58.3 0.4 (Loss) income from continuing operations, net of tax (176.8 ) (24.7 ) (34.2 ) 56.4 (179.3 ) Income from discontinued operations, net of tax 135.2 — 8.5 — 143.7 Net (loss) income (41.6 ) (24.7 ) (25.7 ) 56.4 (35.6 ) Income attributable to noncontrolling interests, net of tax — — 6.0 — 6.0 Net (loss) income attributable to Diebold Nixdorf, Incorporated $ (41.6 ) $ (24.7 ) $ (31.7 ) $ 56.4 $ (41.6 ) Comprehensive (loss) income $ (64.8 ) $ (24.7 ) $ (60.3 ) $ 94.2 $ (55.6 ) Less: comprehensive income attributable to noncontrolling interests — — 9.2 — 9.2 Comprehensive (loss) income attributable to Diebold Nixdorf, Incorporated $ (64.8 ) $ (24.7 ) $ (69.5 ) $ 94.2 $ (64.8 ) |
Condensed Cash Flow Statement [Table Text Block] | Statement of Cash Flows Year Ended December 31, 2018 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net cash (used) provided by operating activities $ (67.8 ) $ (37.7 ) $ 1.4 $ — $ (104.1 ) Cash flow from investing activities Capital expenditures (6.5 ) (0.1 ) (51.9 ) — (58.5 ) Payments for acquisitions, net of cash acquired — — (5.9 ) — (5.9 ) Proceeds from maturities of investments 71.2 — 246.6 — 317.8 Payments for purchases of investments — — (200.2 ) — (200.2 ) Proceeds from divestitures and the sale of assets 6.7 — 4.4 — 11.1 Decrease in certain other assets (5.8 ) — (24.1 ) — (29.9 ) Capital contributions and loans paid (503.2 ) — — 503.2 — Proceeds from intercompany loans 29.2 — — (29.2 ) — Net cash (used) provided by investing activities (408.4 ) (0.1 ) (31.1 ) 474.0 34.4 Cash flow from financing activities Dividends paid (7.7 ) — — — (7.7 ) Debt issuance costs (39.4 ) — — — (39.4 ) Revolving debt borrowings (repayments), net 110.0 — (60.0 ) — 50.0 Other debt borrowings 660.0 — 65.9 — 725.9 Other debt repayments (284.9 ) (0.3 ) (52.5 ) — (337.7 ) Distribution to noncontrolling interest holders — — (377.2 ) — (377.2 ) Repurchase of common shares (3.0 ) — — — (3.0 ) Capital contributions received and loans incurred — 59.0 444.2 (503.2 ) — Payments on intercompany loans — (20.5 ) (8.7 ) 29.2 — Net cash provided (used) by financing activities 435.0 38.2 11.7 (474.0 ) 10.9 Effect of exchange rate changes on cash — — (18.7 ) — (18.7 ) (Decrease) increase in cash, cash equivalents and restricted cash (41.2 ) 0.4 (36.7 ) — (77.5 ) Less: Cash included in assets held for sale at end of year — — 7.3 — 7.3 Cash, cash equivalents and restricted cash at the beginning of the year 58.5 2.3 482.4 — 543.2 Cash, cash equivalents and restricted cash at the end of the year $ 17.3 $ 2.7 $ 438.4 $ — $ 458.4 Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2017 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net cash (used) provided by operating activities $ (43.9 ) $ (41.6 ) $ 122.6 $ — $ 37.1 Cash flow from investing activities Capital expenditures (13.0 ) (0.1 ) (56.3 ) — (69.4 ) Payments for acquisitions, net of cash acquired — — (5.6 ) — (5.6 ) Proceeds from maturities of investments — — 296.2 — 296.2 Payments for purchases of investments (14.0 ) — (315.8 ) — (329.8 ) Proceeds from divestitures and the sale of assets 4.6 — 16.3 — 20.9 (Decrease) increase in certain other assets (43.0 ) 11.8 (1.9 ) — (33.1 ) Capital contributions and loans paid (114.5 ) — — 114.5 — Proceeds from intercompany loans 210.7 — — (210.7 ) — Net cash provided (used) by investing activities 30.8 11.7 (67.1 ) (96.2 ) (120.8 ) Cash flow from financing activities Dividends paid (30.6 ) — — — (30.6 ) Debt issuance costs (1.1 ) — — — (1.1 ) Revolving debt borrowings, net — — 75.0 — 75.0 Other debt borrowings 323.3 — 50.8 — 374.1 Other debt repayments (354.2 ) (1.2 ) (103.4 ) — (458.8 ) Distribution to noncontrolling interest holders — — (17.6 ) — (17.6 ) Issuance of common shares 0.3 — — — 0.3 Repurchase of common shares (5.0 ) — — — (5.0 ) Capital contributions received and loans incurred — 67.1 47.4 (114.5 ) — Payments on intercompany loans — (36.0 ) (174.7 ) 210.7 — Net cash (used) provided by financing activities (67.3 ) 29.9 (122.5 ) 96.2 (63.7 ) Effect of exchange rate changes on cash — — 37.9 — 37.9 Decrease in cash, cash equivalents and restricted cash (80.4 ) — (29.1 ) — (109.5 ) Cash, cash equivalents and restricted cash at the beginning of the year 138.9 2.3 511.5 — 652.7 Cash, cash equivalents and restricted cash at the end of the year $ 58.5 $ 2.3 $ 482.4 $ — $ 543.2 Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2016 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated Net cash (used) provided by operating activities $ (146.4 ) $ (43.2 ) $ 232.1 $ (13.8 ) $ 28.7 Cash flow from investing activities Capital expenditures (9.2 ) (1.0 ) (29.3 ) — (39.5 ) Payments for acquisitions, net of cash acquired (995.2 ) — 110.6 — (884.6 ) Proceeds from maturities of investments (1.9 ) — 226.9 — 225.0 Payments for purchases of investments — — (243.5 ) — (243.5 ) Proceeds from divestitures and the sale of assets — — 31.3 — 31.3 Increase (decrease) in certain other assets 0.5 (6.8 ) (21.9 ) — (28.2 ) Proceeds from sale of foreign currency option and forward contracts, net 16.2 — — — 16.2 Capital contributions and loans paid (270.2 ) — (1,119.3 ) 1,389.5 — Proceeds from intercompany loans 106.4 — — (106.4 ) — Net cash (used) provided by investing activities - continuing operations (1,153.4 ) (7.8 ) (1,045.2 ) 1,283.1 (923.3 ) Net cash provided by investing activities - discontinued operations 361.9 — — — 361.9 Net cash (used) provided by investing activities (791.5 ) (7.8 ) (1,045.2 ) 1,283.1 (561.4 ) Cash flow from financing activities Dividends paid (64.6 ) — (13.8 ) 13.8 (64.6 ) Debt issuance costs (39.2 ) — — — (39.2 ) Revolving debt repayments, net (178.0 ) — — — (178.0 ) Other debt borrowings 1,781.3 — 56.4 — 1,837.7 Other debt repayments (439.6 ) (1.2 ) (221.7 ) — (662.5 ) Distribution to noncontrolling interest holders — — (10.2 ) — (10.2 ) Issuance of common shares 0.3 — — — 0.3 Repurchase of common shares (2.2 ) — — — (2.2 ) Capital contributions received and loans incurred — 133.3 1,256.2 (1,389.5 ) — Payments on intercompany loans — (86.7 ) (19.7 ) 106.4 — Net cash provided by (used in) financing activities 1,058.0 45.4 1,047.2 (1,269.3 ) 881.3 Effect of exchange rate changes on cash — — (8.0 ) — (8.0 ) Increase (decrease) in cash, cash equivalents and restricted cash 120.1 (5.6 ) 226.1 — 340.6 Add: Cash overdraft included in assets held for sale at beginning of year (1.5 ) — — — (1.5 ) Cash, cash equivalents and restricted cash at the beginning of the year 20.3 7.9 285.4 — 313.6 Cash, cash equivalents and restricted cash at the end of the year $ 138.9 $ 2.3 $ 511.5 $ — $ 652.7 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions | Jan. 01, 2018 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Document Fiscal Year Focus | 2,018 | ||||||||||||
Contract with Customer, Asset, Credit Loss Expense | $ 22.8 | $ 54.9 | |||||||||||
Assets Held-for-sale, Not Part of Disposal Group | $ 81.5 | $ 2.1 | 81.5 | 2.1 | |||||||||
Liabilities Held-for-sale, Not Part of Disposal Group | 33.2 | 33.2 | |||||||||||
Restricted Cash | 8 | 8 | |||||||||||
Restricted Cash and Cash Equivalents | 105.3 | 8 | 105.3 | 8 | |||||||||
Effect of exchange rate changes on cash | (18.7) | 37.9 | $ (8) | ||||||||||
Impairment of assets | $ (134.4) | $ (83.1) | (217.5) | (3.1) | (9.8) | ||||||||
Advertising expense | 10.1 | 11 | 14 | ||||||||||
Research, development and engineering expense | $ 157.4 | 155.5 | 110.2 | ||||||||||
Cash equivalents, maturity period | 3 months | ||||||||||||
Expected rate of return period | 20 years | ||||||||||||
Curtailment gain | $ 0 | 0 | 3.3 | ||||||||||
Amortization of unrecognized net gain (loss) | 5.00% | ||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | (159.6) | 482.3 | $ (159.6) | 482.3 | 1,008.7 | $ 428 | |||||||
Accounts Receivable, Related Parties | 9.9 | 9.9 | |||||||||||
Accounts Payable, Related Parties | 10.6 | 10.6 | |||||||||||
Equity in (loss) earnings of unconsolidated subsidiaries, net | (13.2) | 6.3 | 0.4 | ||||||||||
Net sales | 1,289.8 | 1,119 | 1,105.6 | $ 1,064.2 | 1,249.9 | $ 1,122.7 | $ 1,133.9 | $ 1,102.8 | 4,578.6 | 4,609.3 | 3,316.3 | ||
Cost of sales | 3,687.7 | 3,609.5 | 2,604.6 | ||||||||||
Net loss | (127.5) | (244.6) | (128.3) | (65.6) | (102.7) | (32.6) | (24.1) | (54.5) | (566) | (213.9) | (35.6) | ||
Restatement of Prior Year Income, Tax Effects | (0.5) | (0.2) | (0.2) | (0.5) | (0.4) | (0.2) | (0.4) | ||||||
Restatement of Prior Year Income, Net of Tax | $ (25.9) | $ 5.1 | $ (2.3) | $ (1.9) | $ (3.8) | $ (0.4) | $ (2.4) | ||||||
Impact of Restatement on Earnings Per Share, Basic | $ (0.34) | $ 0.07 | $ (0.03) | $ (0.03) | $ (0.05) | $ (0.01) | $ (0.03) | ||||||
Trade receivables, net | 737.2 | $ 827.9 | 737.2 | 827.9 | |||||||||
Inventories | 610.1 | 714.5 | 610.1 | 714.5 | |||||||||
Other current assets | 306.8 | 247.5 | 306.8 | 247.5 | |||||||||
Deferred revenue | 378.2 | 436.5 | 378.2 | 436.5 | |||||||||
Other current liabilities | 446.9 | 531.4 | 446.9 | 531.4 | |||||||||
Deferred Revenue, Revenue Recognized | 332.5 | ||||||||||||
Revenue, Remaining Performance Obligation, Amount | 2,900 | 2,900 | |||||||||||
Deferred income taxes | 221.6 | 287.1 | 221.6 | 287.1 | |||||||||
Retained Earnings (Accumulated Deficit) | (168.3) | 374.5 | (168.3) | 374.5 | |||||||||
Pension Plan [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Curtailment gain | 4.6 | ||||||||||||
Accounting Standards Update 2017-12 [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Net sales | 2.4 | ||||||||||||
Cost of sales | 0.6 | ||||||||||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Trade receivables, net | 733.3 | 733.3 | |||||||||||
Inventories | 634.3 | 634.3 | |||||||||||
Deferred revenue | 408.9 | 408.9 | |||||||||||
Deferred income taxes | 220.9 | 220.9 | |||||||||||
Retained Earnings (Accumulated Deficit) | (178.1) | (178.1) | |||||||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Net sales | 18.2 | ||||||||||||
Cost of sales | 14.2 | ||||||||||||
Net loss | (0.9) | ||||||||||||
Trade receivables, net | (3.9) | (3.9) | |||||||||||
Inventories | 24.2 | 24.2 | |||||||||||
Deferred revenue | 30.7 | 30.7 | |||||||||||
Deferred income taxes | (0.7) | (0.7) | |||||||||||
Retained Earnings (Accumulated Deficit) | (9.8) | (9.8) | |||||||||||
Retained Earnings [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | (168.3) | 374.5 | (168.3) | 374.5 | 646.6 | $ 752.8 | |||||||
Net loss | (568.7) | (241.5) | (41.6) | ||||||||||
Retained Earnings [Member] | Accounting Standards Update 2018-02 [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Description | 29 | ||||||||||||
Retained Earnings [Member] | Accounting Standards Update 2014-09 [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Description | 4.6 | ||||||||||||
Aisino JV [Domain] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Equity in (loss) earnings of unconsolidated subsidiaries, net | 19.2 | ||||||||||||
Kony, Inc. [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Cost Method Investments | $ 14 | $ 14 | |||||||||||
Inventory Error Correction [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Impact of Restatement on Opening Retained Earnings, Net of Tax | 7.5 | ||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ (56) | $ (35.5) | $ (28) | (24.5) | $ (22.5) | $ (18.7) | $ (18.2) | (24.5) | |||||
Restatement of Prior Year Income, Tax Effects | (1.5) | (1.4) | |||||||||||
Restatement of Prior Year Income, Net of Tax | $ (8.4) | $ (8.6) | |||||||||||
Impact of Restatement on Earnings Per Share, Basic | $ (0.11) | $ (0.12) | |||||||||||
Trade receivables, net | (2.3) | (2.3) | (2.3) | (2.2) | (2.1) | (2) | (2) | $ (2.2) | |||||
Inventories | (18.5) | (26.6) | (24.9) | (22.5) | (20.5) | (16.7) | (16.3) | (22.5) | |||||
Other current assets | (3.9) | (3.8) | (3.5) | (3.5) | (3.4) | (3.1) | (2.7) | (3.5) | |||||
Deferred revenue | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (1) | |||||
Other current liabilities | (3) | (2.9) | (2.8) | (2.7) | (2.5) | (2.1) | (1.8) | (2.7) | |||||
Cost of sales - services | Inventory Error Correction [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Restatement of Prior Year Income, Gross | 0.5 | 1.6 | 1.7 | 1.9 | 2.8 | 0.4 | 2.3 | 8.4 | $ 8 | ||||
Cost of sales - product | Inventory Error Correction [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Restatement of Prior Year Income, Gross | $ 0.8 | $ 0.4 | $ 0.8 | $ 0.4 | $ 0.4 | $ 0.3 | $ 0.4 | $ 1.5 | $ 2 | ||||
Inspur (Suzhou) Financial Technology Service Co Ltd [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Equity Method Investment, Ownership Percentage | 40.00% | 40.00% | |||||||||||
Aisino-Wincor Retail And Banking Systems (Shanghai) Co.,Ltd [Member] | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||
Equity Method Investment, Ownership Percentage | 43.60% | 43.60% |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Income (loss) used in basic and diluted earnings (loss) per share | ||||||||||||
Loss from continuing operations, net of tax | $ (566) | $ (213.9) | $ (179.3) | |||||||||
Net income attributable to noncontrolling interests, net of tax | $ (3.9) | $ (6.1) | $ 5.1 | $ 7.6 | $ 7.4 | $ 6.6 | $ 7 | $ 6.6 | 2.7 | 27.6 | 6 | |
Income (loss) before discontinued operations, net of tax | (568.7) | (241.5) | (185.3) | |||||||||
Income from discontinued operations, net of tax | 0 | 0 | 143.7 | |||||||||
Net loss attributable to Diebold Nixdorf, Incorporated | $ (123.6) | $ (238.5) | $ (133.4) | $ (73.2) | $ (110.1) | $ (39.2) | $ (31.1) | $ (61.1) | $ (568.7) | $ (241.5) | $ (41.6) | |
Denominator | ||||||||||||
Weighted-average number of common shares used in basic earnings (loss) per share | 76.1 | 76.1 | 76 | 75.8 | 75.5 | 75.5 | 75.5 | 75.3 | 76 | 75.5 | 69.1 | |
Effect of dilutive shares (1) (shares) | [1] | 0 | 0 | 0 | ||||||||
Weighted-average number of shares used in diluted earnings (loss) per share (shares) | 76.1 | 76.1 | 76 | 75.8 | 75.5 | 75.5 | 75.5 | 75.3 | 76 | 75.5 | 69.1 | |
Basic and diluted earnings (loss) per share | ||||||||||||
Loss before discontinued operations, net of tax | $ (7.48) | $ (3.20) | $ (2.68) | |||||||||
Income from discontinued operations, net of tax | 0 | 0 | 2.08 | |||||||||
Net loss attributable to Diebold Nixdorf, Incorporated | $ (1.62) | $ (3.13) | $ (1.76) | $ (0.97) | $ (1.46) | $ (0.52) | $ (0.41) | $ (0.81) | (7.48) | (3.20) | (0.60) | |
Diluted earnings (loss) per share | ||||||||||||
Income (loss) before discontinued operations, net of tax | (7.48) | (3.20) | (2.68) | |||||||||
Income from discontinued operations, net of tax | 0 | 0 | 2.08 | |||||||||
Net (loss) income attributable to Diebold, Incorporated | $ (1.62) | $ (3.13) | $ (1.76) | $ (0.97) | $ (1.46) | $ (0.52) | $ (0.41) | $ (0.81) | $ (7.48) | $ (3.20) | $ (0.60) | |
Incremental shares, excluded from dilutive calculation, due to resulting in operating loss | 0.7 | 0.7 | 0.6 | |||||||||
Anti-dilutive shares | ||||||||||||
Anti-dilutive shares not used in calculating diluted weighted-average shares (shares) | 4.5 | 3.4 | 2.1 | |||||||||
[1] | Incremental shares of 0.7, 0.7 and 0.6 were excluded from the computation of diluted loss per share for the years ended December 31, 2018, 2017 and 2016, respectively, because their effect is anti-dilutive due to the loss from continuing operations. |
Share-Based Compensation and _4
Share-Based Compensation and Equity - Share-based Compensation Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Pre-tax compensation expense | $ 36.6 | $ 33.9 | $ 22.2 |
Tax benefit | (8.2) | (8.3) | (7) |
Stock option expense, net of tax | 28.4 | 25.6 | 15.2 |
Stock Options [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Pre-tax compensation expense | 2.8 | 4.6 | 2.7 |
Tax benefit | (0.6) | (1.3) | (0.9) |
Stock option expense, net of tax | 2.2 | 3.3 | 1.8 |
Restricted Stock Units [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Pre-tax compensation expense | 19.8 | 16.4 | 10.7 |
Tax benefit | (4.3) | (4) | (3.1) |
Stock option expense, net of tax | 15.5 | 12.4 | 7.6 |
Performance Shares [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Pre-tax compensation expense | 14 | 12.9 | 8.8 |
Tax benefit | (3.3) | (3) | (3) |
Stock option expense, net of tax | $ 10.7 | $ 9.9 | $ 5.8 |
Share-Based Compensation and _5
Share-Based Compensation and Equity - Unrecognized Compensation Costs (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Stock Options [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Unrecognized Cost | $ 1.3 |
Weighted-Average Period | 1 year 73 days |
Restricted Stock Units [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Unrecognized Cost | $ 12.3 |
Weighted-Average Period | 1 year 73 days |
Performance Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Unrecognized Cost | $ 12.1 |
Weighted-Average Period | 1 year 210 days |
Share-Based Compensation and _6
Share-Based Compensation and Equity - Fair Value Assumptions (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected life (in years) | 3 years | 3 years | 6 years |
Weighted-average volatility | 36.00% | 31.00% | 28.00% |
Risk free interest rate, Minimum | 2.39% | 1.30% | 1.50% |
Risk free interest rate, Maximum | 2.42% | 1.30% | 1.50% |
Dividends, per share, cash paid | $ 0.10 | $ 0.40 | $ 0.96 |
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 2.24% | 1.70% | 3.10% |
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 2.24% | 1.70% | 3.10% |
Share-Based Compensation and _7
Share-Based Compensation and Equity - Stock Option Activity (Details) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2018USD ($)$ / sharesshares | ||
Options outstanding and exercisable under the Company's 1991 Equity and Performance Incentive Plan | ||
Outstanding, Shares, beginning balance | shares | 2.3 | |
Expired or forfeited, Shares | shares | (0.3) | |
Granted, Shares | shares | 0.5 | |
Outstanding, Shares, ending balance | shares | 2.5 | |
Options exercisable, Shares | shares | 1.5 | |
Options vested and expected to vest, Shares | shares | 2.4 | [1] |
Outstanding, weighted average exercise price, beginning balance | $ / shares | $ 29.68 | |
Expired or forfeited, weighted average exercise price | $ / shares | 29.50 | |
Granted, Weighted average exercise price | $ / shares | 17.53 | |
Outstanding, weighted average exercise price, ending balance | $ / shares | 27.05 | |
Options exercisable, Weighted average exercise price | $ / shares | 30.34 | |
Options vested and expected to vest, weighted average exercise price | $ / shares | $ 27.21 | [1] |
Outstanding, Weighted Average Remaining Contractual Term | 7 years | |
Option exercisable, Weighted average remaining contractual term | 6 years | |
Options vested and expected to vest, weighted average remaining contractual term | 7 years | |
Outstanding, Aggregate Intrinsic Value | $ | $ 0 | [2] |
Option exercisable, aggregate Intrinsic Value | $ | 0 | [2] |
Options vested and expected to vest, aggregate intrinsic value | $ | $ 0 | [1],[2] |
[1] | The expected to vest options are the result of applying the pre-vesting forfeiture rate assumption to total outstanding non-vested options. | |
[2] | The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company’s closing share price on the last trading day of the year in 2018 and the exercise price, multiplied by the number of “in-the-money” options) that would have been received by the option holders had all option holders exercised their options on December 31, 2018. The amount of aggregate intrinsic value will change based on the fair market value of the Company’s common shares. |
Share-Based Compensation and _8
Share-Based Compensation and Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units [Member] - $ / shares shares in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Restricted Stock Units | |||||
Unvested, Shares, Beginning balance | 1.3 | ||||
Forfeited, Shares | (0.3) | ||||
Vested, Shares | (0.7) | ||||
Granted, Shares | [1] | 1.3 | |||
Unvested, Shares, Ending balance | 1.6 | 1.3 | |||
Unvested, Weighted-average grant-date fair value, Beginning balance | $ 27.76 | ||||
Forfeited, Weighted-average grant-date fair value | 21.87 | ||||
Vested, Weighted-average grant-date fair value | 28.76 | ||||
Granted, Weighted-average grant-date fair value | 17.34 | [1] | $ 26.81 | $ 26.77 | |
Unvested, Weighted-average grant-date fair value, Ending balance | $ 19.66 | $ 27.76 | |||
One year vest [Member] | |||||
Restricted Stock Units | |||||
Granted, Shares | 0.1 | ||||
Minimum | One year vest [Member] | |||||
Restricted Stock Units | |||||
Granted, Weighted-average grant-date fair value | $ 14.98 | ||||
[1] | (1) The RSUs granted during the year ended December 31, 2018 included 0.1 one-year RSUs to non-employee directors under the 1991 Plan. These RSUs had a weighted-average, grant-date fair value of $14.98 |
Share-Based Compensation and _9
Share-Based Compensation and Equity - Performance Shares Activity (Details) - Performance Shares [Member] - $ / shares shares in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Performance Shares | |||||
Unvested, Shares, Beginning balance | [1] | 2.5 | |||
Forfeited, Shares | (0.9) | ||||
Vested, Shares | 0.2 | ||||
Granted, Shares | 1.6 | ||||
Unvested, Shares, Ending balance | 3 | 2.5 | [1] | ||
Unvested, Weighted-average grant-date fair value, Beginning balance | [1] | $ 31.37 | |||
Forfeited, Weighted-average grant-date fair value | 28.81 | ||||
Vested, Weighted-average grant-date fair value | 32.38 | ||||
Granted, Weighted-average grant-date fair value | 22.65 | $ 31.31 | $ 26.99 | ||
Unvested, Weighted-average grant-date fair value, Ending balance | [1] | $ 26.90 | $ 31.37 | ||
[1] | Non-vested performance shares are based on a maximum potential payout. Actual shares vested at the end of the performance period may be less than the maximum potential payout level depending on achievement of the performance objectives, as determined by the Board of Directors. |
Share-Based Compensation and_10
Share-Based Compensation and Equity - Director Deferred Shares Activity (Details) - Director Deferred Shares [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total fair value of deferred shares vested | $ 0 | ||
Aggregate intrinsic value of deferred shares released | $ 0 | $ 0 | $ 0 |
Share-Based Compensation and_11
Share-Based Compensation and Equity (Textuals) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Dividends, per share, cash paid | $ 0.10 | $ 0.40 | $ 0.96 | |
Number of Shares Authorized | 6,100,000 | |||
Number of Shares Available for Grant | 3,600,000 | |||
Aggregate intrinsic value of options exercised | $ 0 | $ 0 | ||
Weighted-average grant-date fair value of stock options granted | $ 4.21 | $ 4.57 | $ 5.37 | |
Total fair value of stock options vested | $ 3 | $ 2.4 | $ 2.6 | |
Issuance of common shares | $ 0 | $ 0.3 | $ 0.3 | |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expiration period | 10 years | |||
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number Of Common Shares Issued Per Award | 1 | |||
Granted, Weighted-average grant-date fair value | $ 17.34 | [1] | $ 26.81 | $ 26.77 |
Total fair value of deferred shares vested | $ 18.9 | $ 13.9 | $ 7.2 | |
Restricted Stock Units [Member] | One year vest [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 1 year | |||
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number Of Common Shares Issued Per Award | 1 | |||
Granted, Weighted-average grant-date fair value | $ 22.65 | $ 31.31 | $ 26.99 | |
Total fair value of deferred shares vested | $ 5.5 | $ 3.6 | $ 3.1 | |
Performance Shares [Member] | Three year graded vest [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 3 years | |||
Director Deferred Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Aggregate intrinsic value of deferred shares released | $ 0 | $ 0 | $ 0 | |
Total fair value of deferred shares vested | $ 0 | |||
Minimum | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 1 year | |||
Minimum | Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 3 years | |||
Minimum | Restricted Stock Units [Member] | One year vest [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted, Weighted-average grant-date fair value | $ 14.98 | |||
Maximum | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 3 years | |||
[1] | (1) The RSUs granted during the year ended December 31, 2018 included 0.1 one-year RSUs to non-employee directors under the 1991 Plan. These RSUs had a weighted-average, grant-date fair value of $14.98 |
Income Taxes - (Loss) Income Fr
Income Taxes - (Loss) Income From Continuing Operatings (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract] | |||
Domestic | $ (300.9) | $ (212.6) | $ (219.2) |
Foreign | (214.7) | 20.7 | (29.5) |
Loss from continuing operations before taxes | $ (515.6) | $ (191.9) | $ (248.7) |
Income Taxes - Provision_(Benef
Income Taxes - Provision/(Benefit) For Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current | |||
U.S. federal | $ 0.8 | $ (5.9) | $ (68.6) |
Foreign | 49 | 72.9 | 54 |
State and local | 1.9 | 1.7 | (10.6) |
Total current | 51.7 | 68.7 | (25.2) |
Deferred | |||
U.S. federal | 4.6 | 7.6 | 3.6 |
Foreign | (19.8) | (44.9) | (50.2) |
State and local | 0.7 | (3.1) | 2.8 |
Total deferred | (14.5) | (40.4) | (43.8) |
Income tax expense (benefit) | $ 37.2 | $ 28.3 | $ (69) |
Income Taxes - Income Tax Recon
Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Statutory tax benefit | $ (108.3) | $ (67.2) | $ (87) |
Brazil non-taxable incentive | (3.8) | (3.9) | (5.8) |
Valuation allowances | 80.6 | 10.5 | 14.9 |
Goodwill impairment | 41.8 | 0 | 0 |
Foreign tax rate differential | (33.7) | (31.5) | (10) |
Foreign subsidiary earnings | 4.9 | 14.4 | 13.7 |
Accrual adjustments | 3.1 | 4.1 | 1.1 |
Tax Act - rate impact on deferred tax balance | (2.5) | 45.1 | 0 |
Tax Act - deemed repatriation tax | 32.6 | 36.6 | 0 |
Business tax credits | (1.1) | (0.6) | (0.7) |
Non-deductible (non-taxable) items | 18.9 | 22.1 | 4.5 |
Other | 4.7 | (1.3) | 0.3 |
Income tax expense (benefit) | $ 37.2 | $ 28.3 | $ (69) |
Income Taxes - Unrecognized Tax
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Balance at January 1 | $ 48.4 | $ 43.2 |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 6.1 | |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | (1.5) | |
Increases related to current year tax positions | 4.8 | 7.5 |
Settlements | (1.5) | (1.8) |
Reductions due to lapse of applicable statute of limitations | (0.7) | (6.6) |
Balance at December 31 | $ 49.5 | $ 48.4 |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||
Accrued expenses | $ 64 | $ 43 |
Warranty accrual | 6.7 | 13.5 |
Deferred compensation | 9.6 | 10.6 |
Allowances for doubtful accounts | 3.2 | 3.8 |
Inventories | 23.9 | 14.4 |
Deferred revenue | 28.6 | 38.1 |
Pensions, post-retirement and other benefits | 76.9 | 82.6 |
Tax credits | 74.1 | 81.9 |
Net operating loss carryforwards (NOL's) | 160 | 125.9 |
Capital loss carryforwards | 2.6 | 2.6 |
State deferred taxes | 19.8 | 17.4 |
Other | 0 | 0.8 |
Deferred Tax Assets, Gross | 469.4 | 434.6 |
Valuation allowances | (175.4) | (105.6) |
Net deferred tax assets | 294 | 329 |
Deferred tax liabilities | ||
Property, plant and equipment, net | 3.5 | 1.2 |
Goodwill and intangible assets | 245.9 | 302.8 |
Undistributed earnings | 20.6 | 16 |
Other | 1.7 | 2.3 |
Net deferred tax liabilities | 271.7 | 322.3 |
Net deferred tax asset | $ 22.3 | $ 6.7 |
Income Taxes Income Taxes - Def
Income Taxes Income Taxes - Deferred Taxes By Balance Sheet Account (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Income Tax Disclosure [Abstract] | ||
Accrued expenses | $ 64 | $ 43 |
Deferred income taxes - assets | 243.9 | 293.8 |
Deferred income taxes - liabilities | (221.6) | (287.1) |
Net deferred tax asset | 22.3 | 6.7 |
Warranty accrual | 6.7 | 13.5 |
Deferred compensation | 9.6 | 10.6 |
Allowances for doubtful accounts | 3.2 | 3.8 |
Inventories | 23.9 | 14.4 |
Deferred revenue | 28.6 | 38.1 |
Pensions, post-retirement and other benefits | 76.9 | 82.6 |
Tax credits | 74.1 | 81.9 |
Net operating loss carryforwards (NOL's) | 160 | 125.9 |
Capital loss carryforwards | 2.6 | 2.6 |
State deferred taxes | 19.8 | 17.4 |
Other | 0 | 0.8 |
Deferred Tax Assets, Gross | 469.4 | 434.6 |
Valuation allowance | 175.4 | 105.6 |
Net deferred tax assets | 294 | 329 |
Deferred tax liabilities | ||
Property, plant and equipment, net | 3.5 | 1.2 |
Goodwill and intangible assets | 245.9 | 302.8 |
Undistributed earnings | 20.6 | 16 |
Other | 1.7 | 2.3 |
Net deferred tax liabilities | $ 271.7 | $ 322.3 |
Income Taxes (Textuals) (Detail
Income Taxes (Textuals) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosures [Line Items] | |||
Tax Act - deemed repatriation tax | $ 32.6 | $ 36.6 | $ 0 |
Impact of Tax Cuts and Jobs Act of 2017 tax expense recorded | 41.1 | ||
Income Tax Effects Allocated Directly to Equity | $ 4.8 | $ 7.2 | (1.8) |
Federal Statutory Income Tax Rate | 21.00% | 35.00% | |
Transition Tax on Foreign Fiscal Year | $ 8.5 | ||
Effective Income Tax Rate Reconciliation, Percent | 7.20% | 14.70% | |
Foreign subsidiary earnings | $ 4.9 | $ 14.4 | 13.7 |
Income tax penalties and interest accrued | 6.3 | 5.5 | |
Operating loss carryforwards | 964.8 | ||
Net loss carryforward, deferred tax asset | 160 | 125.9 | |
Operating loss carryforwards, set to expire | 647.2 | ||
Operating loss carryforwards, no expiration | 317.6 | ||
Tax credit carryforwards, foreign | 68.4 | ||
Tax credit carryforwards, general business | 5.7 | ||
Deferred tax asset, change in amount | (69.8) | 17.8 | |
Deferred tax liability not recognized, amount of unrecognized deferred tax liability | 865.4 | ||
Income tax expense | 93.9 | ||
Tax Act Of 2017 Income Tax Expense Benefit | 81.7 | ||
Tax Act - rate impact on deferred tax balance | $ 2.5 | (45.1) | 0 |
Minimum | |||
Income Tax Disclosures [Line Items] | |||
Recognition of tax positions, likelihood of being realized upon settlement | 50.00% | ||
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | |||
Income Tax Disclosures [Line Items] | |||
Income Tax Effects Allocated Directly to Equity | $ 11.6 | $ 9.9 | $ 7.7 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Major classes of inventories | |||
Finished goods | $ 211.2 | $ 291 | |
Service parts | 221.6 | 259.4 | |
Raw materials and work in process | 177.3 | 164.1 | |
Total inventories | 610.1 | 714.5 | |
Inventory Write-down | $ 74.5 | 4.2 | $ 1.8 |
Inventory Error Correction [Member] | |||
Major classes of inventories | |||
Finished goods | 10.9 | ||
Service parts | 11.2 | ||
Raw materials and work in process | $ 0.4 |
Property, Plant and Equipment_2
Property, Plant and Equipment (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | $ 798.2 | $ 783.3 | ||||
Less accumulated depreciation and amortization | 494.1 | 418.8 | ||||
Total property plant and equipment, net | 304.1 | 364.5 | $ 387 | |||
Depreciation | 105.3 | 92.9 | 61.8 | |||
Impairment of assets | $ 134.4 | $ 83.1 | 217.5 | 3.1 | $ 9.8 | |
Land and land improvements | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | [1] | 15.6 | 16 | |||
Buildings and building improvements | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | 122.2 | 112.9 | ||||
Machinery, tools and equipment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | 99.6 | 108.2 | ||||
Leasehold improvements | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | [2] | 26.9 | 28.3 | |||
Computer equipment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | 174.5 | 153.8 | ||||
Computer software | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | 142.9 | 146.6 | ||||
Furniture and fixtures | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | 70.3 | 73.4 | ||||
Tooling | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | 140.9 | 136.4 | ||||
Construction in progress | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, plant and equipment at cost | $ 5.3 | $ 7.7 | ||||
Maximum | Land and land improvements | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P15Y | |||||
Maximum | Building and Building Improvements [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P30Y | |||||
Maximum | Machinery, tools and equipment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P12Y | |||||
Maximum | Leasehold improvements | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | [2] | P10Y | ||||
Maximum | Computer equipment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P3Y | |||||
Maximum | Computer software | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P10Y | |||||
Maximum | Furniture and fixtures | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P8Y | |||||
Maximum | Tooling | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P5Y | |||||
Minimum | Land and land improvements | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P0Y | |||||
Minimum | Building and Building Improvements [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P15Y | |||||
Minimum | Machinery, tools and equipment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P5Y | |||||
Minimum | Computer software | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P5Y | |||||
Minimum | Furniture and fixtures | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P5Y | |||||
Minimum | Tooling | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life, minimum (years) | P3Y | |||||
[1] | Estimated useful life for land and land improvements is perpetual and 15 years, respectively. | |||||
[2] | The estimated useful life for leasehold improvements is the lesser of 10 years or the term of the lease. |
Investments (Details)
Investments (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Securities, Available-for-sale [Line Items] | ||
Interest Rate Derivative Assets, at Fair Value | $ 4.8 | $ 7.6 |
Short-term investments | ||
Fair Value | 33.5 | 81.4 |
Long-term investments | ||
Cost Basis | 22.4 | 96.8 |
Certificates of deposit | ||
Short-term investments | ||
Cost Basis | 33.5 | 81.4 |
Unrealized Gain | 0 | 0 |
Fair Value | 33.5 | 81.4 |
Assets held in rabbi trusts | ||
Long-term investments | ||
Cost Basis | 6.5 | 8.3 |
Unrealized Gain | (0.2) | 1.1 |
Fair Value | $ 6.3 | $ 9.4 |
Investments (Textuals) (Details
Investments (Textuals) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party Transaction [Line Items] | ||
Interest Rate Derivative Assets, at Fair Value | $ (4.8) | $ (7.6) |
Investments (Textuals) | ||
Realized gain (losses) from sale of securities | 0 | 0 |
Proceeds from sale of investments | 0 | 0 |
Cash surrender value of insurance contracts | $ 11.1 | $ 79.8 |
Aisino-Wincor Retail And Banking Systems (Shanghai) Co.,Ltd [Member] | ||
Related Party Transaction [Line Items] | ||
Equity Method Investment, Ownership Percentage | 43.60% | |
Inspur (Suzhou) Financial Technology Service Co Ltd [Member] | ||
Related Party Transaction [Line Items] | ||
Equity Method Investment, Ownership Percentage | 40.00% |
Investments Finance Lease Recei
Investments Finance Lease Receivables - Components of Finance Lease Receivables (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Finance lease receivables sold | $ 11.1 | $ 0 | $ 7.4 |
Finance Leases Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross minimum lease receivable | 39 | 26.6 | |
Allowance for credit losses | 0.4 | 0.3 | |
Capital Leases, Net Investment in Sales Type Leases, Unguaranteed Residual Values of Leased Property | 0.4 | 1.1 | |
Capital Leases, Net Investment in Sales Type Leases, Minimum Payments to be Received And Unguaranteed Residual Values | 39 | 27.4 | |
Unearned interest income | 3 | 1 | |
Unearned residuals | 0.1 | 0.1 | |
Capital Leases, Net Investment in Sales Type Leases, Unearned Interest Income and Residuals | (3.1) | (1.1) | |
Capital Leases, Net Investment in Sales Type Leases, Receivable, Net | $ (35.9) | $ 26.3 |
Finance Lease Receivables - Min
Finance Lease Receivables - Minimum Lease Receivbales Schedule (Details) $ in Millions | Dec. 31, 2018USD ($) |
2,018 | $ 10.8 |
2,019 | 7.7 |
2,020 | 6.7 |
2,021 | 5.6 |
2,022 | 4.9 |
Thereafter | 3.3 |
Capital Leases, Future Minimum Payments Due | $ 39 |
Allowance for Credit Losses (Te
Allowance for Credit Losses (Textuals) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Allowance for credit losses (Textuals) | ||
Allowance for credit losses, individually evaluated for impairment | $ 0.3 | $ 4.4 |
Minimum | ||
Allowance for credit losses (Textuals) | ||
Period required for considering financing receivable as non accrual status | 60 days | |
Period for placing financing receivables on non-accrual status | 89 days | |
Past Due Period Of Financing Receivable Accruing Interest | 90 days | |
Maximum | ||
Allowance for credit losses (Textuals) | ||
Period required for considering financing receivable as non accrual status | 89 days | |
Finance Leases Financing Receivable [Member] | ||
Allowance for credit losses (Textuals) | ||
Individually evaluated for impairment | $ 35.9 | 26.3 |
Allowance for credit losses | 0.4 | 0.3 |
Notes Receivable [Member] | ||
Allowance for credit losses (Textuals) | ||
Individually evaluated for impairment | $ 4.9 | $ 16 |
Allowance for Credit Losses V_2
Allowance for Credit Losses Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||||
Valuation Allowances and Reserves, Additions for Charges to Cost and Expense | $ 22.8 | $ 54.9 | $ 22.9 | ||
Valuation Allowances and Reserves, Additions, Charge to Other Account | [1] | (4.1) | 1.4 | 1.7 | |
Valuation Allowances and Reserves, Deduction | [2] | (32.2) | (35) | (5.9) | |
Valuation Allowances and Reserves, Balance | $ 58.2 | $ 71.7 | $ 50.4 | $ 31.7 | |
[1] | Net effects of foreign currency translation. | ||||
[2] | Uncollectible accounts written-off, net of recoveries. |
Goodwill and Other Assets (Deta
Goodwill and Other Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill [Line Items] | ||||||
Goodwill, Transfers | $ (47) | |||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 128 | 128 | ||||
Goodwill | 1,335.3 | 1,335.3 | $ 1,407.8 | $ 1,289 | ||
Accumulated impairment losses | (508.2) | (508.2) | (290.7) | (290.7) | ||
Beginning balance | 1,117.1 | 998.3 | ||||
Goodwill acquired | 5.6 | |||||
Impairment loss | 0 | $ 0 | $ (83.1) | (217.5) | ||
Goodwill, Purchase Accounting Adjustments | (2.9) | |||||
Currency translation adjustment | (25.5) | 116.1 | ||||
Ending balance | 827.1 | 827.1 | 1,117.1 | 998.3 | ||
Impairment of assets | 134.4 | 83.1 | 217.5 | 3.1 | 9.8 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 108.8 | 108.8 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 96.2 | 96.2 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 92 | 92 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 88.6 | 88.6 | ||||
Finite-Lived Intangible Assets, Net | 513.6 | 513.6 | ||||
Eurasia Banking Segment [Member] | ||||||
Goodwill [Line Items] | ||||||
Goodwill, Transfers | (0.8) | |||||
Goodwill | 628.6 | 628.6 | 639.4 | 592.2 | ||
Accumulated impairment losses | (321.7) | (321.7) | (168.7) | (168.7) | ||
Beginning balance | 470.7 | 423.5 | ||||
Goodwill acquired | 2.2 | |||||
Impairment loss | (153) | |||||
Goodwill, Purchase Accounting Adjustments | (1.2) | |||||
Currency translation adjustment | (10) | 46.2 | ||||
Ending balance | 306.9 | 306.9 | 470.7 | 423.5 | ||
Retail Segment [Member] | ||||||
Goodwill [Line Items] | ||||||
Goodwill, Transfers | (45.9) | |||||
Goodwill | 252.4 | 252.4 | 305.5 | 273 | ||
Accumulated impairment losses | (64.5) | (64.5) | 0 | 0 | ||
Beginning balance | 305.5 | 273 | ||||
Goodwill acquired | 1.6 | |||||
Impairment loss | (64.5) | |||||
Goodwill, Purchase Accounting Adjustments | (0.7) | |||||
Currency translation adjustment | (7.2) | 31.6 | ||||
Ending balance | 187.9 | 187.9 | 305.5 | 273 | ||
Americas Banking Segment [Member] | ||||||
Goodwill [Line Items] | ||||||
Goodwill, Transfers | (0.3) | |||||
Goodwill | 454.3 | 454.3 | 462.9 | 423.8 | ||
Accumulated impairment losses | (122) | (122) | (122) | (122) | ||
Beginning balance | 340.9 | 301.8 | ||||
Goodwill acquired | 1.8 | |||||
Impairment loss | 0 | |||||
Goodwill, Purchase Accounting Adjustments | (1) | |||||
Currency translation adjustment | (8.3) | 38.3 | ||||
Ending balance | $ 332.3 | $ 332.3 | $ 340.9 | $ 301.8 | ||
Goodwill reallocation [Member] | Previously Reported [Member] | ||||||
Goodwill [Line Items] | ||||||
Impairment loss | (109.3) | $ (90) | ||||
Goodwill reallocation [Member] | Restatement Adjustment [Member] | ||||||
Goodwill [Line Items] | ||||||
Impairment loss | $ 0 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 128 | ||||
Goodwill, Purchase Accounting Adjustments | $ (2.9) | ||||
Gross Carrying Amount | 1,033.8 | 1,074.2 | |||
Accumulated Amortization | (409.2) | (300.4) | |||
Net Carrying Amount | 624.6 | 773.8 | |||
Amortization expense on capitalized software | 33.7 | 34.6 | $ 24.4 | ||
Impairment of assets | $ 134.4 | $ 83.1 | 217.5 | 3.1 | 9.8 |
Amortization | 153.4 | 159.3 | $ 73 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 108.8 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 96.2 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 92 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 88.6 | ||||
Finite-Lived Intangible Assets, Net | 513.6 | ||||
Software and Software Development Costs [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Gross Carrying Amount | 189.6 | 192.9 | |||
Accumulated Amortization | (118.9) | (99.8) | |||
Net Carrying Amount | $ 70.7 | 93.1 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 1 year 7 months | ||||
Technology-Based Intangible Assets [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Gross Carrying Amount | $ 52.5 | 55.3 | |||
Accumulated Amortization | (44.3) | (35.1) | |||
Net Carrying Amount | $ 8.2 | 20.2 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 months | ||||
Customer-Related Intangible Assets [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Gross Carrying Amount | $ 712.2 | 741.5 | |||
Accumulated Amortization | (179.1) | (108.2) | |||
Net Carrying Amount | $ 533.1 | 633.3 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 6 years 8 months | ||||
Other intangible assets, net | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Gross Carrying Amount | $ 79.5 | 84.5 | |||
Accumulated Amortization | (66.9) | (57.3) | |||
Net Carrying Amount | $ 12.6 | 27.2 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 8 months | ||||
Other intangible asset, net [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Gross Carrying Amount | $ 321.6 | 332.7 | |||
Accumulated Amortization | (230.1) | (192.2) | |||
Net Carrying Amount | $ 91.5 | $ 140.5 |
Guarantees and Product Warran_3
Guarantees and Product Warranties (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Guarantees and Product Warranties (Textuals) | ||
Maximum future payment obligations | $ 135.2 | $ 195.1 |
Standby letters of credit | 27.5 | 28 |
Liability associated with Standby letters of credit | 0 | 0 |
Changes in warranty liability balance | ||
Balance at January 1 | 76.7 | 101.6 |
Current period accruals | 22.5 | 36 |
Current period settlements | (52.3) | (65.2) |
Currency translation | 6.8 | (4.3) |
Balance at December 31 | $ 40.1 | $ 76.7 |
Restructuring - Restructuring C
Restructuring - Restructuring Charges By Statement of Operations Account (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of restructuring and related costs | |||
Restructuring Charges | $ 65 | $ 49.4 | $ 59.4 |
Cost of sales - services | |||
Schedule of restructuring and related costs | |||
Restructuring Charges | 17.8 | 27.3 | 18.4 |
Cost of sales - products | |||
Schedule of restructuring and related costs | |||
Restructuring Charges | 10.8 | 1.9 | 7.1 |
Selling and administrative expense | |||
Schedule of restructuring and related costs | |||
Restructuring Charges | 33.4 | 21.3 | 28.8 |
Research, development and engineering expense | |||
Schedule of restructuring and related costs | |||
Restructuring Charges | $ 3 | $ (1.1) | $ 5.1 |
Restructuring - Restructuring_2
Restructuring - Restructuring Charges By Segment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 65 | $ 49.4 | $ 59.4 |
Severance | Eurasia Banking Segment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 37.1 | 24.6 | 33.2 |
Severance | Americas Banking Segment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 8.9 | 4.2 | 13.8 |
Severance | Retail Segment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 13.3 | 14.8 | 0.7 |
Severance | Corporate, Non-Segment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 5.7 | $ 5.8 | $ 11.7 |
Restructuring - Restructuring_3
Restructuring - Restructuring Charges By Plan (Details) $ in Millions | Dec. 31, 2018USD ($) |
Severance | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | $ 166.1 |
Severance | Eurasia Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 93.5 |
Severance | Americas Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 22.4 |
Severance | Retail Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 28.8 |
Severance | Corporate, Non-Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 21.4 |
Severance | DN Now Plan [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 58.9 |
Severance | DN Now Plan [Member] | Eurasia Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 33.3 |
Severance | DN Now Plan [Member] | Americas Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 8.6 |
Severance | DN Now Plan [Member] | Retail Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 12.5 |
Severance | DN Now Plan [Member] | Corporate, Non-Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 4.5 |
Severance | Global Realigment Plan | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 105 |
Severance | DN2020 Plan [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 95.8 |
Severance | DN2020 Plan [Member] | Eurasia Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 51.5 |
Severance | DN2020 Plan [Member] | Americas Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 13.6 |
Severance | DN2020 Plan [Member] | Retail Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 15.6 |
Severance | DN2020 Plan [Member] | Corporate, Non-Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 15.1 |
Severance | Delta Program [Member] [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 3.2 |
Severance | Delta Program [Member] [Member] | Eurasia Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 0.5 |
Severance | Delta Program [Member] [Member] | Americas Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 0.2 |
Severance | Delta Program [Member] [Member] | Retail Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 0.7 |
Severance | Delta Program [Member] [Member] | Corporate, Non-Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 1.8 |
Severance | Strategic Alliance Plan [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 8.2 |
Severance | Strategic Alliance Plan [Member] | Eurasia Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 8.2 |
Severance | Strategic Alliance Plan [Member] | Americas Banking Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 0 |
Severance | Strategic Alliance Plan [Member] | Retail Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 0 |
Severance | Strategic Alliance Plan [Member] | Corporate, Non-Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | 0 |
Other Restructuring [Member] | Global Realigment Plan | |
Restructuring Cost and Reserve [Line Items] | |
Costs incurred to date | $ 3.5 |
Restructuring - Restructuring R
Restructuring - Restructuring Reserve Activity (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Restructuring accrual balances and related activity | |||
Balance at beginning of period | $ 54 | $ 89.9 | $ 4.7 |
Liabilities incurred | 65 | 49.4 | 59.4 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restructuring Liabilities | (8.2) | 45.5 | |
Liabilities paid/settled | (62.1) | (77.1) | (19.7) |
Balance at end of period | $ 56.9 | $ 54 | $ 89.9 |
Restructuring (Textuals) (Detai
Restructuring (Textuals) (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2017 | Aug. 15, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Charges | $ 65 | $ 49.4 | $ 59.4 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restructuring Liabilities | (8.2) | 45.5 | ||||
DN Now Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Charges | 58.9 | |||||
DN Now Plan [Member] | Minimum | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Expected Cost | 175 | |||||
DN Now Plan [Member] | Maximum | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Expected Cost | 200 | |||||
Global Realigment Plan | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Charges | 7.7 | |||||
DN2020 Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Charges | 6 | 47 | 42.8 | |||
Delta Program [Member] [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Charges | 3.2 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restructuring Liabilities | $ 37.3 | $ 45.5 | ||||
Strategic Alliance Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Charges | 0.1 | $ 2.4 | $ 5.7 | |||
Other Restructuring [Member] | Global Realigment Plan | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 3.5 | |||||
Severance | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 166.1 | |||||
Severance | DN Now Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 58.9 | |||||
Severance | Global Realigment Plan | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 105 | |||||
Severance | DN2020 Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 95.8 | |||||
Severance | Delta Program [Member] [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 3.2 | |||||
Severance | Strategic Alliance Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | $ 8.2 | |||||
Subsequent Event [Member] | DN Now Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Anticipated Annual Synergies | $ 160 | |||||
Subsequent Event [Member] | Severance | DN Now Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Anticipated Annual Synergies | $ 130 | |||||
Measurement Period Adjustment [Member] | Delta Program [Member] [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restructuring Liabilities | $ 8.2 |
Debt (Details)
Debt (Details) - USD ($) | Aug. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||||
Document Period End Date | Dec. 31, 2018 | |||
Notes payable – current | ||||
Uncommitted Lines Of Credit | $ 20,900,000 | $ 16,200,000 | ||
Other | 2,700,000 | 500,000 | ||
Notes payable | 49,500,000 | 66,700,000 | ||
Long-term debt | ||||
Revolving credit facility | 125,000,000 | 75,000,000 | ||
Other | 2,400,000 | 1,400,000 | ||
Long-term debt excluding debt issuance costs | 2,264,900,000 | 1,837,500,000 | ||
Debt Issuance Costs, Noncurrent, Net | (74,900,000) | (50,400,000) | ||
Revolving debt borrowings (repayments), net | 50,000,000 | 75,000,000 | $ (178,000,000) | |
Other debt borrowings | 725,900,000 | 374,100,000 | 1,837,700,000 | |
repayments of other debt | (337,700,000) | (458,800,000) | $ (662,500,000) | |
Long-term debt | 2,190,000,000 | 1,787,100,000 | ||
Term Loan A Facility [Member] | ||||
Notes payable – current | ||||
Unsecured Debt, Current | 0 | 23,000,000 | ||
Long-term debt | ||||
Long-term debt | 126,300,000 | 178,300,000 | ||
repayments of other debt | $ (130,000,000) | (75,000,000) | (17,300,000) | |
Delayed Draw Term Loan A Facility [Member] | ||||
Notes payable – current | ||||
Unsecured Debt, Current | 0 | 17,200,000 | ||
Long-term debt | ||||
Long-term debt | 160,500,000 | 226,600,000 | ||
Other debt borrowings | 0 | 250,000,000 | ||
repayments of other debt | (83,200,000) | (6,300,000) | ||
Term Loan A-1 Facility [Member] | ||||
Notes payable – current | ||||
Unsecured Debt, Current | 16,300,000 | 0 | ||
Long-term debt | ||||
Long-term debt | 625,600,000 | 0 | ||
Other debt borrowings | $ 650,000,000 | 650,000,000 | 0 | |
repayments of other debt | (8,100,000) | 0 | ||
Uncommitted Line of Credit [Member] | ||||
Long-term debt | ||||
Other debt borrowings | 75,900,000 | 50,800,000 | ||
repayments of other debt | (62,800,000) | (41,400,000) | ||
Senior Notes Due 2024 [Member] | ||||
Long-term debt | ||||
Senior Notes, Noncurrent | 400,000,000 | 400,000,000 | ||
Term Loan B EUR [Member] | ||||
Notes payable – current | ||||
Unsecured Debt, Current | 4,800,000 | 5,000,000 | ||
Long-term debt | ||||
Long-term debt | 411,900,000 | 489,500,000 | ||
Other debt borrowings | 0 | 73,300,000 | ||
repayments of other debt | (55,600,000) | (4,600,000) | ||
European Investment Bank [Member] | ||||
Long-term debt | ||||
repayments of other debt | 0 | (63,100,000) | ||
Term Loan B USD [Member] | ||||
Notes payable – current | ||||
Unsecured Debt, Current | 4,800,000 | 4,800,000 | ||
Long-term debt | ||||
Long-term debt | 413,200,000 | 466,700,000 | ||
repayments of other debt | $ (53,000,000) | $ (326,100,000) | ||
2016 Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 8.50% |
Debt (Textuals) (Details)
Debt (Textuals) (Details) | Aug. 30, 2018USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | May 09, 2017USD ($) | |
Debt Instruments [Line Items] | |||||||||
Document Period End Date | Dec. 31, 2018 | ||||||||
Fees to creditors | $ 39,400,000 | $ 1,100,000 | $ 39,200,000 | ||||||
Long-term Debt, Fiscal Year Maturity | |||||||||
2,018 | 49,500,000 | ||||||||
2,019 | 438,200,000 | ||||||||
2,020 | 26,500,000 | ||||||||
2,021 | 603,300,000 | ||||||||
Thereafter | 1,196,900,000 | ||||||||
Long-term debt | 2,190,000,000 | 1,787,100,000 | |||||||
Interest expense | $ 127,100,000 | 102,700,000 | 85,700,000 | ||||||
Debt Instrument, Covenant Compliance | As of December 31, 2015, the Company was in compliance with the financial and other covenants in its debt agreements | ||||||||
Repricing Premium Percentage | 1.00% | ||||||||
Total Net Leverage Ratio | 2.5 | ||||||||
Other debt borrowings | $ 725,900,000 | 374,100,000 | 1,837,700,000 | ||||||
Repayments of Other Debt | 337,700,000 | $ 458,800,000 | $ 662,500,000 | ||||||
Debt Excluding Debt Issuance Costs | 2,314,400,000 | ||||||||
June 2015 Revolving Credit Facility [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Borrowing capacity under credit facility | $ 500,000,000 | ||||||||
Line of Credit [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Line of credit facility expiration period | 5 years | ||||||||
Industrial development revenue bonds [Member] | |||||||||
Long-term Debt, Fiscal Year Maturity | |||||||||
Debt instrument maturity period | 20 years | ||||||||
Term Loan A Facility [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Debt Instrument, Interest Rate Terms | LIBOR + 3.50% | ||||||||
Delayed Draw Term Loan A [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Debt Instrument, Interest Rate Terms | LIBOR + 3.50% | ||||||||
Term Loan A-1 Facility [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Debt Instrument, Interest Rate Terms | LIBOR + 9.25% | ||||||||
Term Loan B USD [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Debt Instrument, Interest Rate Terms | [1] | LIBOR(i) + 2.75% | |||||||
Unsecured Debt | $ 1,000,000,000 | $ 475,000,000 | |||||||
Delayed Draw Term Loan A Facility [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Unsecured Debt | 250,000,000 | ||||||||
Term Loan B EUR [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Debt Instrument, Interest Rate Terms | EURIBOR(ii) + 3.00% | ||||||||
Unsecured Debt | $ 70,000,000 | ||||||||
Reduction in Revolving Credit Facility Borrowing Capacity [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Borrowing capacity under credit facility | $ 0 | ||||||||
2016 Senior Notes [Member] | |||||||||
Long-term Debt, Fiscal Year Maturity | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.50% | ||||||||
Revolving Credit Facility [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Debt Instrument, Interest Rate Terms | LIBOR + 3.50% | ||||||||
Amount available under credit facility | $ 347,500,000 | ||||||||
Weighted average interest rate on credit facility borrowings outstanding | 5.97% | 3.63% | |||||||
Uncommitted Line of Credit [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Borrowing capacity under credit facility | $ 48,900,000 | ||||||||
Weighted average interest rate on outstanding borrowings | 8.80% | 9.17% | |||||||
Amount available under credit facility | $ 28,000,000 | ||||||||
Line of credit facility expiration period | 1 year | ||||||||
Term Loan A-1 Facility [Member] | |||||||||
Long-term Debt, Fiscal Year Maturity | |||||||||
Other debt borrowings | 650,000,000 | $ 650,000,000 | $ 0 | ||||||
Repayments of Other Debt | 8,100,000 | 0 | |||||||
Combined Term B Loans [Member] | |||||||||
Long-term Debt, Fiscal Year Maturity | |||||||||
Repayments of Other Debt | 100,000,000 | ||||||||
Term Loan A Facility [Member] | |||||||||
Long-term Debt, Fiscal Year Maturity | |||||||||
Repayments of Other Debt | $ 130,000,000 | 75,000,000 | 17,300,000 | ||||||
Senior Notes Due 2024 [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Senior Notes, Noncurrent | $ 400,000,000 | $ 400,000,000 | |||||||
Minimum | |||||||||
Debt Instruments [Line Items] | |||||||||
Adjusted EBITDA To Net Interest Expense Coverage Ratio | 1.38 | ||||||||
Minimum | Term Loan B USD [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Debt Instrument, Interest Rate Terms | LIBOR with a floor of 0.0 percent | ||||||||
Minimum | Term Loan B EUR [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Debt Instrument, Interest Rate Terms | EURIBOR with a floor of 0.0 percent | ||||||||
Minimum | Subsequent Event [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Adjusted EBITDA To Net Interest Expense Coverage Ratio | 1.63 | 1.50 | |||||||
Maximum | |||||||||
Debt Instruments [Line Items] | |||||||||
Net Debt To EBITDA Leverage Ratio | 7 | ||||||||
Maximum | Subsequent Event [Member] | |||||||||
Debt Instruments [Line Items] | |||||||||
Net Debt To EBITDA Leverage Ratio | 6.25 | 6.50 | |||||||
[1] | LIBOR with a floor of 0.0 percent. |
Redeemable Noncontrolling Int_3
Redeemable Noncontrolling Interests (Details) shares in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2018€ / shares | Dec. 31, 2017€ / shares | Dec. 31, 2015USD ($) | |
Redeemable Noncontrolling Interest [Line Items] | ||||||
Purchase of noncontrolling interests | $ 0 | $ 0 | $ 44.1 | |||
Other comprehensive income | (19.3) | 32.8 | 0 | |||
Redemption value adjustment | 2.8 | 32 | 0 | |||
Redemption of shares | (345.2) | (3.5) | 0 | |||
Reclassification of noncontrolling interest | 0 | 386.7 | 0 | |||
Redeemable noncontrolling interests | 130.4 | 492.1 | $ 44.1 | $ 0 | ||
Diebold Nixdorf AG | Domination and Profit and Loss Transfer Agreement [Member] | ||||||
Redeemable Noncontrolling Interest [Line Items] | ||||||
Redeemable noncontrolling interests | $ 99.1 | $ 454.6 | ||||
Business Acquisition, Percentage Tendered Of Ordinary Shares Issued | 94.70% | |||||
Shares Repurchased Of Redeemable Noncontrolling Interest | shares | 5.3 | |||||
Business Acquisition, Number Of Ordinary Shares Tendered | shares | 28.2 | |||||
Business Acquisition, Share Price | € / shares | € 55.02 | |||||
Recurring Cash Compensation Per Share Net Of Tax | € / shares | € 2.82 | € 2.82 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Beginning Balance | $ (196.3) | $ (341.3) | |
Other comprehensive (loss) income before reclassifications (1) | (81.4) | 142.1 | |
Amounts reclassified from AOCI | 3 | 2.9 | |
Net current period other comprehensive income (loss) | (107.4) | 145 | |
Ending Balance | (303.7) | (196.3) | |
Translation | |||
Beginning Balance | (116.8) | (251.2) | |
Other comprehensive (loss) income before reclassifications (1) | [1] | (65.6) | 134.4 |
Amounts reclassified from AOCI | 0 | 0 | |
Net current period other comprehensive income (loss) | (74.7) | 134.4 | |
Ending Balance | (191.5) | (116.8) | |
Other comprehensive (loss) income before reclassifications within the translation component, amount excluded | 3.9 | (5.9) | |
Foreign Currency Hedges | |||
Beginning Balance | (5.1) | (5.7) | |
Other comprehensive (loss) income before reclassifications (1) | 4.2 | 0.6 | |
Amounts reclassified from AOCI | 0 | 0 | |
Net current period other comprehensive income (loss) | 3.2 | 0.6 | |
Ending Balance | (1.9) | (5.1) | |
Interest Rate Hedges | |||
Beginning Balance | 8.1 | 4.6 | |
Other comprehensive (loss) income before reclassifications (1) | (1.4) | 3.9 | |
Amounts reclassified from AOCI | 2.6 | (0.4) | |
Net current period other comprehensive income (loss) | 2.5 | 3.5 | |
Ending Balance | 10.6 | 8.1 | |
Pension and Other Post-Retirement Benefits | |||
Beginning Balance | (82.6) | (89.3) | |
Other comprehensive (loss) income before reclassifications (1) | (18.6) | 3.4 | |
Amounts reclassified from AOCI | 0.4 | 3.3 | |
Net current period other comprehensive income (loss) | (38.4) | 6.7 | |
Ending Balance | (121) | (82.6) | |
Other | |||
Beginning Balance | 0.1 | 0.3 | |
Other comprehensive (loss) income before reclassifications (1) | 0 | (0.2) | |
Amounts reclassified from AOCI | 0 | 0 | |
Net current period other comprehensive income (loss) | 0 | (0.2) | |
Ending Balance | $ 0.1 | $ 0.1 | |
Accounting Standards Update 2018-02 [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Indirect Effects | (29) | ||
Accounting Standards Update 2018-02 [Member] | Translation | |||
New Accounting Pronouncement or Change in Accounting Principle, Indirect Effects | (9.1) | ||
Accounting Standards Update 2018-02 [Member] | Foreign Currency Hedges | |||
New Accounting Pronouncement or Change in Accounting Principle, Indirect Effects | (1) | ||
Accounting Standards Update 2018-02 [Member] | Interest Rate Hedges | |||
New Accounting Pronouncement or Change in Accounting Principle, Indirect Effects | 1.3 | ||
Accounting Standards Update 2018-02 [Member] | Pension and Other Post-Retirement Benefits | |||
New Accounting Pronouncement or Change in Accounting Principle, Indirect Effects | (20.2) | ||
Accounting Standards Update 2018-02 [Member] | Other | |||
New Accounting Pronouncement or Change in Accounting Principle, Indirect Effects | 0 | ||
[1] | Other comprehensive income (loss) before reclassifications within the translation component excludes (gains)/losses of $3.9 and $(5.9) and translation attributable to noncontrolling interests for December 31, 2018 and 2017, respectively. |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss Reclassification Adjustment (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Interest expense | $ (154.9) | $ (117.3) | $ (101.4) | |
Net actuarial loss amortization recognized during the year, tax | (1.1) | (3.3) | (1.8) | |
Net actuarial gains (losses) recognized due to settlement (net of tax of $(1.3) and $0.4, respectively) | (3.5) | 0.2 | 0 | |
Net actuarial losses recognized due to settlement, tax | (1.3) | 0.4 | 0 | |
Curtailment gain | 0 | 0 | 3.3 | |
Net prior service benefit amortization due to curtailment, tax | 0 | 0 | 1.5 | |
Currency impact (net of tax of $(1.9) and $0.4, respectively) | 0.9 | (1.3) | 0.7 | |
Currency impact, tax | (0.3) | (1.9) | 0 | |
Derivatives, reclassification adjustment for amounts recognized in net income, tax | (0.6) | (0.1) | 0 | |
Interest income | 8.7 | 20.3 | $ 21.5 | |
Total reclassifications for the period | 3 | 2.9 | ||
Interest Rate Hedges | ||||
Total reclassifications for the period | 2.6 | (0.4) | ||
Interest Rate Hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Interest expense | 2.6 | (0.4) | ||
Derivatives, reclassification adjustment for amounts recognized in net income, tax | (0.6) | (0.1) | ||
Pension and Other Post-Retirement Benefits | ||||
Total reclassifications for the period | 0.4 | 3.3 | ||
Pension and Other Post-Retirement Benefits | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Recognized net actuarial loss | [1] | 4.8 | 2.2 | |
Net actuarial loss amortization recognized during the year, tax | (1.1) | (3.3) | ||
Net actuarial gains (losses) recognized due to settlement (net of tax of $(1.3) and $0.4, respectively) | [1] | (3.5) | (0.2) | |
Net actuarial losses recognized due to settlement, tax | (1.3) | 0.4 | ||
Currency impact (net of tax of $(1.9) and $0.4, respectively) | [1] | (0.9) | 1.3 | |
Currency impact, tax | (0.3) | (1.9) | ||
Amounts reclassified from AOCI | $ 0.4 | $ 3.3 | ||
[1] | Pension and other post-retirement benefits AOCI components are included in the computation of net periodic benefit cost (refer to note 15 ). |
Acquisitions and Divestitures_3
Acquisitions and Divestitures (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2015 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 5.9 | $ 5.6 | $ 884.6 | ||||
Gain (Loss) on Disposition of Assets | 6.7 | (1) | (0.3) | ||||
Cost of sales | |||||||
Income tax (benefit) expense | 93.9 | ||||||
Income (loss) from discontinued operations, net of tax | 143.7 | ||||||
Income from discontinued operations, net of tax | 0 | 0 | 143.7 | ||||
Impairment of assets | $ 134.4 | $ 83.1 | $ 217.5 | 3.1 | 9.8 | ||
Legacy Diebold United Kingdom [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Proceeds from Divestiture of Businesses | 5 | ||||||
Legacy Diebold United Kingdom And Electronic Security Business in Mexico [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Gain (Loss) on Disposition of Assets | 2.2 | ||||||
NA Electronic Security [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Proceeds from Divestiture of Businesses | $ 350 | ||||||
Divestiture Agreed Upon Contingent Payment | 10.00% | ||||||
Services and software | 16.3 | ||||||
Systems | 8.5 | ||||||
Net sales | 24.8 | ||||||
Cost of sales | |||||||
Services and software | 15.1 | ||||||
Systems | 6.9 | ||||||
Cost of sales | 22 | ||||||
Gross profit | 2.8 | ||||||
Selling and administrative expense | 4.8 | ||||||
Income (loss) from discontinued operations before taxes | (2) | ||||||
Income tax (benefit) expense | (0.7) | ||||||
Gain (loss) on sale of discontinued operations before taxes | $ 239.5 | 239.5 | |||||
Income tax (benefit) expense | 94.5 | ||||||
Gain (loss) on sale of discontinued operations, net of tax | 145 | ||||||
Income (loss) from discontinued operations, net of tax | (1.3) | ||||||
Income from discontinued operations, net of tax | $ 143.7 | ||||||
Diebold Nixdorf AG China Subsidiaries [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 5.8 | ||||||
Moxx and Visio [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 5.6 |
Benefit Plans Benefit Plans - S
Benefit Plans Benefit Plans - Summary of Benefit Plan (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Change in accumulated other comprehensive income | ||||
Prior service cost occurring during the year | $ 0 | $ (0.4) | $ 0 | |
Net actuarial gains (losses) recognized due to curtailment | 0 | 0 | (1.5) | |
Acquired benefit plans and other | 7.7 | (1.5) | 0 | |
Pension Benefits | ||||
Change in plan assets | ||||
Employer contributions | 34.5 | |||
Other Benefits | ||||
Change in benefit obligation | ||||
Benefit obligation at beginning of year | 9.9 | 10.8 | ||
Service cost | 0 | 0 | 0 | |
Interest cost | 0.4 | 0.4 | 0.5 | |
Actuarial (gain) loss | (1.6) | (0.5) | ||
Plan participant contributions | 0 | 0 | ||
Benefits paid | (0.8) | (0.8) | ||
Plan amendments | 0 | 0 | ||
Special termination benefits | 0 | 0 | ||
Settlements | 0 | 0 | ||
Foreign currency impact | 0 | 0 | ||
Acquired benefit plans and other | 7.4 | 0 | ||
Benefit obligation at end of year | 15.3 | 9.9 | 10.8 | |
Change in plan assets | ||||
Fair value of plan assets at beginning of year | 0 | 0 | ||
Actual return on plan assets | 0 | 0 | ||
Employer contributions | 0.8 | 0.8 | ||
Plan participant contributions | 0 | 0 | ||
Benefits paid | (0.8) | (0.8) | ||
Foreign currency impact | 0 | 0 | ||
Acquired benefit plans and other | 0 | 0 | ||
Settlements | 0 | 0 | ||
Fair value of plan assets at end of year | 0 | 0 | 0 | |
Funded status | (15.3) | (9.9) | ||
Amounts recognized in balance sheets | ||||
Assets for Plan Benefits, Defined Benefit Plan | 0 | 0 | ||
Current liabilities | 1.1 | 1.1 | ||
Noncurrent liabilities | [1] | 14.2 | 8.8 | |
Unrecognized net actuarial loss | [2] | (6.3) | (0.5) | |
Unrecognized prior service cost (benefit) | [2] | 0 | 0 | |
Net amount recognized | 9 | 9.4 | ||
Change in accumulated other comprehensive income | ||||
Balance at beginning of year | (0.5) | (1.1) | ||
Prior service cost occurring during the year | 0 | 0 | ||
Net actuarial losses recognized during the year | 0 | 0 | ||
Net actuarial losses recognized due to settlement | 0 | 0 | ||
Acquired benefit plans and other | (7.4) | 0 | ||
Foreign currency impact | 0 | 0 | ||
Balance at end of year | (6.3) | (0.5) | (1.1) | |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax | 1.6 | 0.6 | ||
Foreign Plan [Member] | Pension Benefits | ||||
Change in benefit obligation | ||||
Benefit obligation at beginning of year | 452 | 546.9 | ||
Service cost | 11 | 10.5 | 5.5 | |
Interest cost | 6.2 | 5.7 | 2.7 | |
Actuarial (gain) loss | (3.5) | 7.5 | ||
Plan participant contributions | 1.4 | 1.3 | ||
Benefits paid | (17.3) | (10) | ||
Plan amendments | 0 | (0.8) | ||
Special termination benefits | 0 | 0.1 | ||
Settlements | 7.7 | 191.4 | ||
Foreign currency impact | (18.1) | 59.2 | ||
Acquired benefit plans and other | 2.5 | 23 | ||
Benefit obligation at end of year | 426.5 | 452 | 546.9 | |
Change in plan assets | ||||
Fair value of plan assets at beginning of year | 359.5 | 482.9 | ||
Actual return on plan assets | 2.2 | 12.7 | ||
Employer contributions | 16.9 | 1.3 | ||
Plan participant contributions | 1.4 | 1.3 | ||
Benefits paid | (17.3) | (10) | ||
Foreign currency impact | (14.4) | 51.7 | ||
Acquired benefit plans and other | 0.3 | 11 | ||
Settlements | (7.7) | (191.4) | ||
Fair value of plan assets at end of year | 340.9 | 359.5 | 482.9 | |
Funded status | (85.6) | (92.5) | ||
Amounts recognized in balance sheets | ||||
Assets for Plan Benefits, Defined Benefit Plan | 0 | 6.9 | ||
Current liabilities | 3.2 | 3.2 | ||
Noncurrent liabilities | [1] | 82.4 | 96.2 | |
Unrecognized net actuarial loss | [2] | 19 | 27.7 | |
Unrecognized prior service cost (benefit) | [2] | 0.7 | 0.8 | |
Net amount recognized | 105.3 | 121 | ||
Change in accumulated other comprehensive income | ||||
Balance at beginning of year | 28.5 | 27.7 | ||
Prior service cost occurring during the year | 0 | 0.9 | ||
Net actuarial losses recognized during the year | (0.7) | (0.4) | ||
Net actuarial losses recognized due to settlement | (2.2) | (0.6) | ||
Acquired benefit plans and other | (0.3) | (3) | ||
Foreign currency impact | (0.6) | 3.2 | ||
Balance at end of year | 19.8 | 28.5 | 27.7 | |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax | (4.9) | 0.7 | ||
U.S. Plans | Pension Benefits | ||||
Change in benefit obligation | ||||
Benefit obligation at beginning of year | 569 | 554.5 | ||
Service cost | 3.9 | 3.9 | 3.5 | |
Interest cost | 20.6 | 22.9 | 24.7 | |
Actuarial (gain) loss | 41.3 | (17.9) | ||
Plan participant contributions | 0 | 0 | ||
Benefits paid | (30) | (30.2) | ||
Plan amendments | 0 | 0 | ||
Special termination benefits | 0 | 0 | ||
Settlements | 0 | 0 | ||
Foreign currency impact | 0 | 0 | ||
Acquired benefit plans and other | 0 | 0 | ||
Benefit obligation at end of year | 522.2 | 569 | 554.5 | |
Change in plan assets | ||||
Fair value of plan assets at beginning of year | 378.7 | 351.7 | ||
Actual return on plan assets | (20.3) | 53.6 | ||
Employer contributions | 17.6 | 3.6 | ||
Plan participant contributions | 0 | 0 | ||
Benefits paid | (30) | (30.2) | ||
Foreign currency impact | 0 | 0 | ||
Acquired benefit plans and other | 0 | 0 | ||
Settlements | 0 | 0 | ||
Fair value of plan assets at end of year | 346 | 378.7 | 351.7 | |
Funded status | (176.2) | (190.3) | ||
Amounts recognized in balance sheets | ||||
Assets for Plan Benefits, Defined Benefit Plan | 0 | 0.3 | ||
Current liabilities | 3.4 | 3.5 | ||
Noncurrent liabilities | [1] | 172.7 | 187.1 | |
Unrecognized net actuarial loss | [2] | 151.3 | 154.4 | |
Unrecognized prior service cost (benefit) | [2] | 0 | 0 | |
Net amount recognized | 24.8 | 35.9 | ||
Change in accumulated other comprehensive income | ||||
Balance at beginning of year | (154.4) | (170.1) | ||
Prior service cost occurring during the year | 0 | 0 | ||
Net actuarial losses recognized during the year | 6.6 | 5.9 | ||
Net actuarial losses recognized due to settlement | 0 | 0 | ||
Acquired benefit plans and other | 0 | 0 | ||
Foreign currency impact | 0 | 0 | ||
Balance at end of year | (151.4) | (154.4) | $ (170.1) | |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax | $ (3.6) | $ 9.8 | ||
[1] | Included in the consolidated balance sheets in pensions, post-retirement and other benefits | |||
[2] | Represents amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost. |
Benefit Plans - Components of N
Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Components of net periodic benefit cost | |||
Curtailment gain | $ 0 | $ 0 | $ 3.3 |
Pension Benefits | |||
Components of net periodic benefit cost | |||
Curtailment gain | 4.6 | ||
Other Benefits | |||
Components of net periodic benefit cost | |||
Service cost | 0 | 0 | 0 |
Interest cost | 0.4 | 0.4 | 0.5 |
Expected return on plan assets | 0 | 0 | 0 |
Recognized net actuarial loss | 0 | 0 | 0.2 |
Curtailment gain | 0 | 0 | 0 |
Settlement loss | 0 | 0 | 0 |
Net periodic pension benefit cost | 0.4 | 0.4 | 0.7 |
U.S. Plans | Pension Benefits | |||
Components of net periodic benefit cost | |||
Service cost | 3.9 | 3.9 | 3.5 |
Interest cost | 20.6 | 22.9 | 24.7 |
Expected return on plan assets | (24.6) | (25.9) | (27) |
Recognized net actuarial loss | 6.6 | 5.9 | 5.5 |
Curtailment gain | 0 | 0 | 0 |
Settlement loss | 0 | 0 | 0 |
Net periodic pension benefit cost | 6.5 | 6.8 | 6.7 |
Foreign Plan [Member] | Pension Benefits | |||
Components of net periodic benefit cost | |||
Service cost | 11 | 10.5 | 5.5 |
Interest cost | 6.2 | 5.7 | 2.7 |
Expected return on plan assets | (10.5) | (4.5) | (3.5) |
Recognized net actuarial loss | (0.7) | (0.4) | 0 |
Curtailment gain | 0 | (0.1) | 4.6 |
Settlement loss | (2.2) | (0.6) | 0 |
Net periodic pension benefit cost | $ 3.8 | $ 10.8 | $ 0.1 |
Benefit Plans Benefit Plans - A
Benefit Plans Benefit Plans - Accumulated Benefit Obligation In Excess of Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Foreign Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | $ 426.5 | $ 452 |
Accumulated benefit obligation | 409.7 | 439.5 |
Fair value of plan assets | 340.9 | 359.5 |
U.S. Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 522.2 | 569 |
Accumulated benefit obligation | 522.2 | 569 |
Fair value of plan assets | $ 346 | $ 378.7 |
Benefit Plans Benefit Plans -_2
Benefit Plans Benefit Plans - Assumptions Used (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Other Benefits | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||
Discount rate | 4.34% | 3.71% |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||
Discount rate | 3.71% | 4.24% |
U.S. Plans | Pension Benefits | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||
Discount rate | 4.34% | 3.71% |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||
Discount rate | 3.71% | 4.24% |
Expected long-term return on plan assets | 6.80% | 7.40% |
Foreign Plan [Member] | Pension Benefits | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||
Discount rate | 1.60% | 1.45% |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||
Discount rate | 1.45% | 1.47% |
Expected long-term return on plan assets | 2.97% | 1.34% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 2.82% | 2.75% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 2.75% | 2.76% |
Benefit Plans Benefit Plans - H
Benefit Plans Benefit Plans - Health Care Cost Trends (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | ||
Healthcare cost trend rate assumed for next year | 6.50% | 6.80% |
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 5.00% | 5.00% |
Year that rate reaches ultimate trend rate | 2,025 | 2,025 |
Benefit Plans Benefit Plans -_3
Benefit Plans Benefit Plans - Allocation of Plan Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Special Situation Private Equity and Debt Funds [Member] | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 34.00% | 25.00% | |
Venture Private Equity Funds [Member] | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 23.00% | 33.00% | |
Buyout Private Equity Funds [Member] | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 43.00% | 42.00% | |
U.S. Plans | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Acquired benefit plans and other | $ 0 | $ 0 | |
Actual | 0.00% | ||
Actual | 0.00% | ||
Fair value of plan assets | $ 346 | $ 378.7 | $ 351.7 |
U.S. Plans | Pension Benefits | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 81.5 | 93.8 | |
U.S. Plans | Pension Benefits | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 216.5 | 237.7 | |
U.S. Plans | Pension Benefits | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 48 | 47.2 | |
U.S. Plans | Pension Benefits | Cash and short-term investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3 | 3.5 | |
U.S. Plans | Pension Benefits | Cash and short-term investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3 | 3.5 | |
U.S. Plans | Pension Benefits | Cash and short-term investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Cash and short-term investments | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 26.8 | 32 | |
U.S. Plans | Pension Benefits | Mutual funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 26.8 | 32 | |
U.S. Plans | Pension Benefits | Mutual funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Mutual funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | U.S. corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 45.6 | 50 | |
U.S. Plans | Pension Benefits | U.S. corporate bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | U.S. corporate bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 45.6 | 50 | |
U.S. Plans | Pension Benefits | U.S. corporate bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | International corporate bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | International corporate bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | International corporate bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | U.S. government | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.4 | 7.7 | |
U.S. Plans | Pension Benefits | U.S. government | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | U.S. government | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.4 | 7.7 | |
U.S. Plans | Pension Benefits | U.S. government | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Fixed and index funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.6 | |
U.S. Plans | Pension Benefits | Fixed and index funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Fixed and index funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.6 | |
U.S. Plans | Pension Benefits | Fixed and index funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 20.8 | 19.2 | |
U.S. Plans | Pension Benefits | Real estate | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Real estate | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Real estate | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 20.8 | 19.2 | |
U.S. Plans | Pension Benefits | Other common collective trusts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 145.6 | 159.9 | |
U.S. Plans | Pension Benefits | Other common collective trusts | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Other common collective trusts | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 145.6 | 159.9 | |
U.S. Plans | Pension Benefits | Other common collective trusts | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Multi-strategy hedge funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 19.3 | 18.9 | |
U.S. Plans | Pension Benefits | Multi-strategy hedge funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Multi-strategy hedge funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Multi-strategy hedge funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 19.3 | 18.9 | |
U.S. Plans | Pension Benefits | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.9 | 9.1 | |
U.S. Plans | Pension Benefits | Private equity funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Private equity funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Private equity funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.9 | 9.1 | |
U.S. Plans | Pension Benefits | Other Alternative Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Other Alternative Investments [Member] | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Other Alternative Investments [Member] | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Other Alternative Investments [Member] | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | U.S. mid cap value | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | U.S. mid cap value | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | U.S. mid cap value | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | U.S. small cap core | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17.2 | 19 | |
U.S. Plans | Pension Benefits | U.S. small cap core | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17.2 | 19 | |
U.S. Plans | Pension Benefits | U.S. small cap core | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | U.S. small cap core | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | International developed markets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 34.5 | 39.3 | |
U.S. Plans | Pension Benefits | International developed markets | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 34.5 | 39.3 | |
U.S. Plans | Pension Benefits | International developed markets | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | International developed markets | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Emerging markets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17.8 | 19.5 | |
U.S. Plans | Pension Benefits | Emerging markets | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. Plans | Pension Benefits | Emerging markets | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17.8 | 19.5 | |
U.S. Plans | Pension Benefits | Emerging markets | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 0 | $ 0 | |
U.S. Plans | Equity securities | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 0.00% | ||
Actual | 0.00% | 0.00% | |
U.S. Plans | Debt securities | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 0.00% | ||
Actual | 0.00% | 0.00% | |
U.S. Plans | Real estate | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 0.00% | ||
Actual | 0.00% | 0.00% | |
U.S. Plans | Other | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 0.00% | ||
Actual | 0.00% | 0.00% | |
Foreign Plan [Member] | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Acquired benefit plans and other | $ 2.5 | $ 23 | |
Actual | 0.00% | ||
Actual | 0.00% | 0.00% | |
Fair value of plan assets | $ 340.9 | $ 359.5 | $ 482.9 |
Foreign Plan [Member] | Pension Benefits | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 186.7 | 184.8 | |
Foreign Plan [Member] | Pension Benefits | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 82.4 | 92.9 | |
Foreign Plan [Member] | Pension Benefits | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 71.8 | 81.8 | |
Foreign Plan [Member] | Pension Benefits | Cash and short-term investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 34 | 82.5 | |
Foreign Plan [Member] | Pension Benefits | Cash and short-term investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 34 | 82.1 | |
Foreign Plan [Member] | Pension Benefits | Cash and short-term investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.4 | |
Foreign Plan [Member] | Pension Benefits | Cash and short-term investments | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 125.2 | 77.5 | |
Foreign Plan [Member] | Pension Benefits | Mutual funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 125.2 | 77.5 | |
Foreign Plan [Member] | Pension Benefits | Mutual funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Mutual funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. corporate bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. corporate bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. corporate bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | International corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 76.8 | 86.9 | |
Foreign Plan [Member] | Pension Benefits | International corporate bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.3 | 5.9 | |
Foreign Plan [Member] | Pension Benefits | International corporate bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 75.5 | 81 | |
Foreign Plan [Member] | Pension Benefits | International corporate bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. government | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. government | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. government | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Fixed and index funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 14.7 | 11.7 | |
Foreign Plan [Member] | Pension Benefits | Fixed and index funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 14.7 | 7.4 | |
Foreign Plan [Member] | Pension Benefits | Fixed and index funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 4.3 | |
Foreign Plan [Member] | Pension Benefits | Fixed and index funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5 | 4.7 | |
Foreign Plan [Member] | Pension Benefits | Real estate | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Real estate | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5 | 4.7 | |
Foreign Plan [Member] | Pension Benefits | Real estate | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Other common collective trusts | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Other common collective trusts | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Other common collective trusts | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Multi-strategy hedge funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.6 | ||
Foreign Plan [Member] | Pension Benefits | Multi-strategy hedge funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Multi-strategy hedge funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 1.6 | |
Foreign Plan [Member] | Pension Benefits | Multi-strategy hedge funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Private equity funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Private equity funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Private equity funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Other Alternative Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 73.7 | 82.7 | |
Foreign Plan [Member] | Pension Benefits | Other Alternative Investments [Member] | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Other Alternative Investments [Member] | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.9 | 0.9 | |
Foreign Plan [Member] | Pension Benefits | Other Alternative Investments [Member] | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 71.8 | 81.8 | |
Foreign Plan [Member] | Pension Benefits | U.S. mid cap value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.1 | 0.7 | |
Foreign Plan [Member] | Pension Benefits | U.S. mid cap value | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.1 | 0.7 | |
Foreign Plan [Member] | Pension Benefits | U.S. mid cap value | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. mid cap value | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. small cap core | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.3 | ||
Foreign Plan [Member] | Pension Benefits | U.S. small cap core | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.3 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. small cap core | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | U.S. small cap core | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | International developed markets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.7 | 11.2 | |
Foreign Plan [Member] | Pension Benefits | International developed markets | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.7 | 11.2 | |
Foreign Plan [Member] | Pension Benefits | International developed markets | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | International developed markets | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Emerging markets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.4 | ||
Foreign Plan [Member] | Pension Benefits | Emerging markets | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.4 | 0 | |
Foreign Plan [Member] | Pension Benefits | Emerging markets | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Pension Benefits | Emerging markets | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 0 | $ 0 | |
Foreign Plan [Member] | Equity securities | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 0.00% | ||
Actual | 0.00% | 0.00% | |
Foreign Plan [Member] | Debt securities | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 0.00% | ||
Actual | 0.00% | 0.00% | |
Foreign Plan [Member] | Real estate | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 0.00% | ||
Actual | 0.00% | 0.00% | |
Foreign Plan [Member] | Other | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual | 0.00% | ||
Actual | 0.00% | 0.00% |
Benefit Plans Benefit Plans - C
Benefit Plans Benefit Plans - Change in Plan Assets Unobservable Inputs (Details) - Pension Benefits - Level 3 - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
U.S. Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, January 1 | $ 47.2 | $ 47.4 |
Dispositions | (2.8) | (4.3) |
Realized and unrealized gain (loss), net | 3.6 | 4.1 |
Balance, December 31 | 48 | 47.2 |
Foreign Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, January 1 | 81.8 | 230.6 |
Dispositions | 4.9 | (175.3) |
Realized and unrealized gain (loss), net | (14.9) | 26.5 |
Balance, December 31 | $ 71.8 | $ 81.8 |
Benefit Plans Benefit Plans - F
Benefit Plans Benefit Plans - Future Benefit Payments (Details) $ in Millions | Dec. 31, 2018USD ($) |
Other Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
Amount of net loss (gain) | $ 0 |
Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Abstract] | |
2018, gross | 0.9 |
2019, gross | 0.9 |
2020, gross | 0.8 |
2021, gross | 0.8 |
2022, gross | 0.8 |
2023-2027, gross | 3.1 |
2018, net | 0.8 |
2019, net | 0.8 |
2020, net | 0.8 |
2021, net | 0.7 |
2022, net | 0.7 |
2023-2027, net | 2.8 |
U.S. Plans | Pension Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
Amount of net loss (gain) | 5 |
Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Abstract] | |
2,018 | 28.4 |
2,019 | 29.1 |
2,020 | 29.8 |
2,021 | 30.4 |
2,022 | 30.9 |
2023-2027 | 160.4 |
Foreign Plan [Member] | Pension Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
Amount of net loss (gain) | (1.5) |
Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Abstract] | |
2,018 | 30.8 |
2,019 | 27.9 |
2,020 | 27.9 |
2,021 | 25.1 |
2,022 | 31.7 |
2023-2027 | $ 132.9 |
Benefit Plans Benefit Plans - D
Benefit Plans Benefit Plans - Defined Contribution Plans (Details) - Employee Contributions First Six Percent [Member] | 12 Months Ended |
Dec. 31, 2018 | |
Defined Contribution Plan [Line Items] | |
Participant Contribution Percentage | 6.00% |
Effective January 1, 2012 to December 31, 2013 [Member] | Subsequent to July 1, 2003 Hire Date [Member] | |
Defined Contribution Plan [Line Items] | |
Retirement savings plan basic match | 60.00% |
Effective January 1, 2014 to December 31, 2015 [Member] | Prior to July 1, 2003 Hire Date [Member] | |
Defined Contribution Plan [Line Items] | |
Retirement savings plan basic match | 60.00% |
Effective January 1, 2014 to December 31, 2015 [Member] | Subsequent to July 1, 2003 Hire Date [Member] | |
Defined Contribution Plan [Line Items] | |
Retirement savings plan basic match | 60.00% |
Benefit Plans Benefit Plans - T
Benefit Plans Benefit Plans - Textuals (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($)years | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Curtailment gain | $ 0 | $ 0 | $ 3.3 |
Healthcare cost trend rate assumed for next year | 6.50% | 6.80% | |
Year that rate reaches ultimate trend rate | 2,025 | 2,025 | |
Expected rate of return period | 20 years | ||
Cost recognized | $ 10.3 | $ 8.2 | 8.3 |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 50 | ||
Defined Benefits Plan, Expected Future Reimbursement from CTA, Net Fiscal Year | 13 | ||
Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Curtailment gain | 4.6 | ||
Employer contributions | 34.5 | ||
Benefit Plan, Plan Assets, Reimbursement from CTA | 14.6 | ||
Other Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Acquired benefit plans and other | 0 | 0 | |
Curtailment gain | $ 0 | $ 0 | 0 |
Discount rate | 4.34% | 3.71% | |
Actuarial loss (gain) | $ 1.6 | $ 0.5 | |
Settlements, plan assets | 0 | 0 | |
Settlement loss | 0 | 0 | $ 0 |
Employer contributions | 0.8 | 0.8 | |
2018, gross | 0.9 | ||
Settlements | $ 0 | 0 | |
Other common collective trusts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan Asset Underlying Investment Redemption Notice | 1 day | ||
Multi-strategy hedge funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan Assets Redemptions per Period | years | 0.5 | ||
Plan Asset Underlying Investment Redemption Notice | 95 days | ||
Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 5.5 | $ 5.5 | |
Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan Assets Redemptions per Period | years | 0.25 | ||
Plan Asset Underlying Investment Redemption Notice | 30 days | ||
Residential [Member] | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 23.00% | 21.00% | |
Long Short Equity [Member] | Multi-strategy hedge funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 44.00% | 50.00% | |
Buyout Private Equity Funds [Member] | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 43.00% | 42.00% | |
Special Situation Private Equity and Debt Funds [Member] | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 34.00% | 25.00% | |
Venture Private Equity Funds [Member] | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 23.00% | 33.00% | |
Arbitrage and Event Investments [Member] | Multi-strategy hedge funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 54.00% | 45.00% | |
Directional Trading, Fixed Income and Other Investments [Member] | Multi-strategy hedge funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 2.00% | 5.00% | |
Retail [Member] | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 26.00% | 27.00% | |
Industrial, Cash and Other [Member] | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 14.00% | 11.00% | |
Office [Member] | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 37.00% | 41.00% | |
Debt securities | Other common collective trusts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 61.00% | 59.00% | |
Collateralized Mortgage Backed Securities [Member] | Other common collective trusts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 23.00% | 15.00% | |
Corporate Debt Securities [Member] | Other common collective trusts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 51.00% | 54.00% | |
Fixed income securities | US Treasury and Government [Member] | Other common collective trusts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 26.00% | 31.00% | |
Equity Securities [Member] | Russell 1000 Fund Large Cap Index Funds [Member] | Other common collective trusts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual allocation percentage | 39.00% | 41.00% | |
NETHERLANDS | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Settlement loss | $ 0.4 | ||
Settlements | $ 186.8 |
Leases (Details)
Leases (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Operating Leased Assets [Line Items] | ||||
2,019 | $ 81.4 | |||
2,020 | 57.6 | |||
2,021 | 35.9 | |||
2,022 | 22.9 | |||
2,023 | 17.4 | |||
Thereafter | 8.6 | |||
Total Due | 223.8 | |||
Rent expense | 123.2 | $ 125.4 | $ 84.3 | |
Real Estate | ||||
Operating Leased Assets [Line Items] | ||||
2,019 | 50 | |||
2,020 | 33.8 | |||
2,021 | 26.8 | |||
2,022 | 19.6 | |||
2,023 | 16 | |||
Thereafter | 8.6 | |||
Total Due | 154.8 | |||
Vehicles and Equipment | ||||
Operating Leased Assets [Line Items] | ||||
2,019 | [1] | 31.4 | ||
2,020 | [1] | 23.8 | ||
2,021 | [1] | 9.1 | ||
2,022 | [1] | 3.3 | ||
2,023 | [1] | 1.4 | ||
Thereafter | [1] | 0 | ||
Total Due | $ 69 | |||
Minimum | Vehicles and Equipment | ||||
Operating Leased Assets [Line Items] | ||||
Term of operating lease | 36 | |||
Maximum | Vehicles and Equipment | ||||
Operating Leased Assets [Line Items] | ||||
Term of operating lease | 60 months | |||
[1] | The Company leases vehicles with contractual terms of 36 to 60 months that are cancellable after 12 months without penalty. Future minimum lease payments reflect only the minimum payments of the historical average holding period of these vehicles. |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities (Details) € in Millions, £ in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2018GBP (£) | Dec. 31, 2018EUR (€) | Nov. 30, 2016USD ($) | |
Derivative Instruments Gain Loss [Line Items] | ||||||||||||||
Interest expense | $ (154.9) | $ (117.3) | $ (101.4) | |||||||||||
Gain (loss) recognized on non-designated derivative instruments: | ||||||||||||||
Gain (loss) recognized on non-designated derivative instruments, total | (10.3) | 2 | 8.5 | |||||||||||
Miscellaneous, net | (4) | 2.5 | 3.1 | |||||||||||
Net sales | $ 1,289.8 | $ 1,119 | $ 1,105.6 | $ 1,064.2 | $ 1,249.9 | $ 1,122.7 | $ 1,133.9 | $ 1,102.8 | 4,578.6 | 4,609.3 | 3,316.3 | |||
Foreign exchange loss, net | (2.5) | (3.9) | (2.1) | |||||||||||
Cost of sales | 3,687.7 | 3,609.5 | 2,604.6 | |||||||||||
Interest Rate Swap | ||||||||||||||
Derivative Instruments Gain Loss [Line Items] | ||||||||||||||
Derivative, Notional Amount | $ 400 | |||||||||||||
Interest expense | (2.9) | (4.3) | (5.1) | |||||||||||
Foreign Exchange Option [Member] | ||||||||||||||
Gain (loss) recognized on non-designated derivative instruments: | ||||||||||||||
Miscellaneous, net | 0 | 0 | 35.6 | |||||||||||
Foreign Exchange Forward and Cash Flow Hedges [Member] | ||||||||||||||
Gain (loss) recognized on non-designated derivative instruments: | ||||||||||||||
Miscellaneous, net | 0 | (26.4) | ||||||||||||
Net sales | 2.4 | 0 | 0 | |||||||||||
Foreign exchange loss, net | (10.4) | 6.3 | 4.4 | |||||||||||
Cost of sales | 0.6 | $ 0 | $ 0 | |||||||||||
Increase (Decrease) in Derivative Assets and Liabilities | $ 0 | |||||||||||||
Currency Forward Agreements EUR to GBP [Member] | ||||||||||||||
Derivative Instruments Gain Loss [Line Items] | ||||||||||||||
Number of foreign currency option contracts | 12 | 12 | ||||||||||||
Derivative, Notional Amount | £ 27.5 | € 30.9 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities (Textuals) (Details) € in Millions, £ in Millions, $ in Millions | Nov. 01, 2018USD ($) | Jul. 23, 2018USD ($) | Jun. 21, 2018USD ($) | Sep. 21, 2017USD ($) | May 09, 2017EUR (€) | Mar. 30, 2017EUR (€) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2018GBP (£) | Dec. 31, 2018EUR (€) | May 09, 2017USD ($) | Nov. 30, 2016USD ($) |
Derivative [Line Items] | |||||||||||||||||||||
Net sales | $ 1,289.8 | $ 1,119 | $ 1,105.6 | $ 1,064.2 | $ 1,249.9 | $ 1,122.7 | $ 1,133.9 | $ 1,102.8 | $ 4,578.6 | $ 4,609.3 | $ 3,316.3 | ||||||||||
Cost of sales | 3,687.7 | 3,609.5 | 2,604.6 | ||||||||||||||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 4.9 | (41.3) | |||||||||||||||||||
Derivative Instruments and Hedging Activities (Textuals) | |||||||||||||||||||||
Fair value of investment hedge contracts | 0 | 2 | 0 | 2 | |||||||||||||||||
Derivatives used in net investment hedge, increase (decrease), gross of tax | 9.1 | (2.2) | |||||||||||||||||||
Fair value of non-designated foreign exchange forward contracts | $ 0.5 | (4.9) | 0.5 | (4.9) | |||||||||||||||||
Interest expense | 154.9 | 117.3 | 101.4 | ||||||||||||||||||
Gain on interest rate cash flow hedges, pretax | 0 | ||||||||||||||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (10.3) | 2 | 8.5 | ||||||||||||||||||
Proceeds from sale of foreign currency option and forward contracts, net | 0 | 0 | 16.2 | ||||||||||||||||||
Net income (loss) recognized in other comprehensive income (net of tax of $0.3, $(1.7) and $(3.0), respectively) | $ (1.4) | 3.9 | 4.9 | ||||||||||||||||||
Currency Forward Agreements EUR to GBP [Member] | |||||||||||||||||||||
Derivative [Line Items] | |||||||||||||||||||||
Number of foreign currency option contracts | 12 | 12 | 12 | 12 | |||||||||||||||||
Derivative Instruments and Hedging Activities (Textuals) | |||||||||||||||||||||
Notional amount of pay-fixed receive-variable interest rate swaps | £ 27.5 | € 30.9 | |||||||||||||||||||
Interest Rate Swap | |||||||||||||||||||||
Derivative Instruments and Hedging Activities (Textuals) | |||||||||||||||||||||
Notional amount of pay-fixed receive-variable interest rate swaps | $ 400 | ||||||||||||||||||||
Interest expense | $ 2.9 | 4.3 | 5.1 | ||||||||||||||||||
Interest Rate Derivatives, at Fair Value, Net | $ 10.1 | 9.8 | 10.1 | 9.8 | |||||||||||||||||
Foreign Exchange Forward and Cash Flow Hedges [Member] | |||||||||||||||||||||
Derivative [Line Items] | |||||||||||||||||||||
Net sales | 2.4 | 0 | 0 | ||||||||||||||||||
Cost of sales | 0.6 | 0 | $ 0 | ||||||||||||||||||
Derivative Instruments and Hedging Activities (Textuals) | |||||||||||||||||||||
Increase (Decrease) in Derivative Assets and Liabilities | 0 | ||||||||||||||||||||
Term Loan B EUR [Member] | |||||||||||||||||||||
Derivative Instruments and Hedging Activities (Textuals) | |||||||||||||||||||||
Increase (Decrease) in Derivative Liabilities | $ 29.2 | $ 180.2 | $ 30.2 | $ 101.1 | € 66.8 | € 130.6 | |||||||||||||||
Unsecured Debt | $ 70 | ||||||||||||||||||||
Diebold Nixdorf AG | Interest Rate Swap | |||||||||||||||||||||
Derivative Instruments and Hedging Activities (Textuals) | |||||||||||||||||||||
Notional amount of pay-fixed receive-variable interest rate swaps | € | € 50 | ||||||||||||||||||||
Interest expense | $ 1.9 | 1.4 | |||||||||||||||||||
Derivative, Fixed Interest Rate | 2.974% | 2.974% | 2.974% | 2.974% | |||||||||||||||||
Interest Rate Derivatives, at Fair Value, Net | $ (3.6) | $ (5.5) | $ (3.6) | (5.5) | |||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Interest Rate Hedges | |||||||||||||||||||||
Derivative Instruments and Hedging Activities (Textuals) | |||||||||||||||||||||
Interest expense | (2.6) | $ 0.4 | |||||||||||||||||||
Accounting Standards Update 2017-12 [Member] | |||||||||||||||||||||
Derivative [Line Items] | |||||||||||||||||||||
Net sales | 2.4 | ||||||||||||||||||||
Cost of sales | $ 0.6 |
Fair Value of Assets and Liab_3
Fair Value of Assets and Liabilities - Fair Value Measurements (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair value assets measured on recurring basis | ||
Total | $ 39.8 | $ 90.8 |
Fair value liabilities measured on recurring basis | ||
Total | 6.3 | 9.4 |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | ||
Fair value assets measured on recurring basis | ||
Total | 13.5 | 16.5 |
Fair value liabilities measured on recurring basis | ||
Total | 6.7 | 15.7 |
Foreign exchange forward contracts | Fair Value, Measurements, Recurring | Level 1 | ||
Fair value assets measured on recurring basis | ||
Foreign exchange forward contracts | 0 | 0 |
Fair value liabilities measured on recurring basis | ||
Fair value Liabilities measured on recurring basis- Derivatives | 0 | 0 |
Foreign exchange forward contracts | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | ||
Fair value assets measured on recurring basis | ||
Foreign exchange forward contracts | 3.4 | 6.7 |
Fair value liabilities measured on recurring basis | ||
Fair value Liabilities measured on recurring basis- Derivatives | 3.1 | 10.2 |
Interest Rate Swap | Fair Value, Measurements, Recurring | Level 1 | ||
Fair value assets measured on recurring basis | ||
Foreign exchange forward contracts | 0 | 0 |
Fair value liabilities measured on recurring basis | ||
Fair value Liabilities measured on recurring basis- Derivatives | 0 | 0 |
Interest Rate Swap | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | ||
Fair value assets measured on recurring basis | ||
Foreign exchange forward contracts | 4.8 | 7.6 |
Fair value liabilities measured on recurring basis | ||
Fair value Liabilities measured on recurring basis- Derivatives | 3.6 | 5.5 |
Certificates of deposit | Fair Value, Measurements, Recurring | Level 1 | ||
Fair value assets measured on recurring basis | ||
Fair value measured on recurring basis, investments | 33.5 | 81.4 |
Certificates of deposit | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | ||
Fair value assets measured on recurring basis | ||
Fair value measured on recurring basis, investments | 0 | 0 |
Assets held in rabbi trusts | ||
Fair value assets measured on recurring basis | ||
Fair value measured on recurring basis, investments | 6.3 | 9.4 |
Assets held in rabbi trusts | Fair Value, Measurements, Recurring | Level 1 | ||
Fair value assets measured on recurring basis | ||
Assets held in rabbi trusts | 6.3 | 9.4 |
Fair value liabilities measured on recurring basis | ||
Deferred compensation | 9.4 | |
Assets held in rabbi trusts | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | ||
Fair value assets measured on recurring basis | ||
Assets held in rabbi trusts | 0 | 0 |
Fair value liabilities measured on recurring basis | ||
Deferred compensation | 0 | 0 |
Other Current Assets [Member] | Interest Rate Swap | Fair Value, Measurements, Recurring | Level 1 | ||
Fair value assets measured on recurring basis | ||
Foreign exchange forward contracts | 0 | 0 |
Other Current Assets [Member] | Interest Rate Swap | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 [Member] | ||
Fair value assets measured on recurring basis | ||
Foreign exchange forward contracts | $ 5.3 | $ 2.2 |
Fair Value of Assets and Liab_4
Fair Value of Assets and Liabilities - Summary of Liabilities Recorded at Carrying Value (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Senior Notes Due 2024 [Member] | ||
Fair value and carrying value of the Company's debt instruments | ||
Senior Notes, Noncurrent | $ 400 | $ 400 |
Fair Value of Assets and Liab_5
Fair Value of Assets and Liabilities (Textuals) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | ||
Fair Value Transfers Between Levels Amount | $ 0 | $ 0 |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018€ / shares | Dec. 31, 2017USD ($) | Dec. 31, 2017€ / shares | |
Commitments and Contingencies Disclosure [Abstract] | ||||
Purchase obligation, due within one year | $ 5.3 | |||
Purchase obligation purchased during period | 8.9 | |||
Thailand Customs Matter [Member] | ||||
Loss Contingencies [Line Items] | ||||
Range of possible loss, portion not accrued | 27 | |||
Indirect Tax Liability [Member] | ||||
Loss Contingencies [Line Items] | ||||
Accrual, at carrying aalue | $ 4.9 | |||
Range of possible loss, portion not accrued | $ 106.1 | |||
Diebold Nixdorf AG | Domination and Profit and Loss Transfer Agreement [Member] | ||||
Loss Contingencies [Line Items] | ||||
Business Acquisition, Share Price | € / shares | € 55.02 | |||
Recurring Cash Compensation Per Share Net Of Tax | € / shares | € 2.82 | € 2.82 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Summary of Segment Information | ||||||||||||
Net sales | $ 1,289.8 | $ 1,119 | $ 1,105.6 | $ 1,064.2 | $ 1,249.9 | $ 1,122.7 | $ 1,133.9 | $ 1,102.8 | $ 4,578.6 | $ 4,609.3 | $ 3,316.3 | |
Segment operating profit | (362.9) | (93.5) | (169.8) | |||||||||
Impairment of assets | $ (134.4) | $ (83.1) | (217.5) | (3.1) | (9.8) | |||||||
Restructuring charges | (65) | (49.4) | (59.4) | |||||||||
Other expense | (152.7) | (98.4) | (78.9) | |||||||||
Income (loss) from continuing operations before taxes | (515.6) | (191.9) | (248.7) | |||||||||
Depreciation, Depletion and Amortization | 258.7 | 252.2 | 134.8 | |||||||||
Property, plant and equipment at cost | $ 798.2 | $ 783.3 | 798.2 | 783.3 | ||||||||
Eurasia Banking Segment [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Net sales | 1,800.2 | 1,903.4 | 1,232.6 | |||||||||
Retail Segment [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Net sales | 1,262.7 | 1,180.3 | 516.4 | |||||||||
Operating Segments [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Net sales | 4,578.6 | 4,609.3 | 3,316.3 | |||||||||
Revenue from Related Parties | 174.9 | 130.9 | 102 | |||||||||
Segment operating profit | 225 | 282.8 | 224 | |||||||||
Operating Segments [Member] | Eurasia Banking Segment [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Net sales | 1,800.2 | 1,903.4 | 1,232.6 | |||||||||
Revenue from Related Parties | 161.1 | 105 | 63.5 | |||||||||
Operating Segments [Member] | Americas Banking Segment [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Net sales | 1,515.7 | 1,525.6 | 1,567.3 | |||||||||
Revenue from Related Parties | 13.8 | 25.9 | 38.5 | |||||||||
Operating Segments [Member] | Retail Segment [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Net sales | 1,262.7 | 1,180.3 | 516.4 | |||||||||
Revenue from Related Parties | 0 | 0 | 0 | |||||||||
Operating Segments [Member] | Services Segment [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Segment operating profit | 147.1 | 126.8 | 88.2 | |||||||||
Operating Segments [Member] | Software Segment [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Segment operating profit | 27.6 | 68.1 | 101.8 | |||||||||
Operating Segments [Member] | Systems Segment [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Segment operating profit | 50.3 | 87.9 | 34 | |||||||||
Corporate, Non-Segment [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Corporate charges not allocated back to segments | [1] | (62.7) | (62.6) | (69.3) | ||||||||
Segment Reconciling Items [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Impairment of assets | (217.5) | (3.1) | (9.8) | |||||||||
Restructuring charges | (65) | (49.4) | (59.4) | |||||||||
Net non-routine expense | (242.7) | (261.2) | (255.3) | |||||||||
Corporate And Reconciling Items [Member] | ||||||||||||
Summary of Segment Information | ||||||||||||
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | $ (587.9) | $ (376.3) | $ (393.8) | |||||||||
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjAwZGU2ZDgxZWY3MDQ2NmNiZTIzM2MwYWU3MGI3YTc3fFRleHRTZWxlY3Rpb246NTE3MDQ3ODE2OEUwRjNGMDQ5OTAzNkM1MUY3RDM3RkMM} |
Segment Information Revenue By
Segment Information Revenue By Service/Product Solution (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | 100.00% | 100.00% | |||||||||
Net sales summary by segment | $ 1,289.8 | $ 1,119 | $ 1,105.6 | $ 1,064.2 | $ 1,249.9 | $ 1,122.7 | $ 1,133.9 | $ 1,102.8 | $ 4,578.6 | $ 4,609.3 | $ 3,316.3 |
Service [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 2,789.5 | 2,785.3 | 1,908 | ||||||||
Product [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 1,789.1 | 1,824 | 1,408.3 | ||||||||
Operating Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 4,578.6 | 4,609.3 | 3,316.3 | ||||||||
Eurasia Banking Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 1,800.2 | 1,903.4 | 1,232.6 | ||||||||
Eurasia Banking Segment [Member] | Service [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 1,111.8 | 1,133.1 | 637.3 | ||||||||
Eurasia Banking Segment [Member] | Product [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 688.4 | 770.3 | 595.3 | ||||||||
Eurasia Banking Segment [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 1,800.2 | 1,903.4 | 1,232.6 | ||||||||
Americas Banking Segment [Member] | Service [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 1,025.8 | 1,043.9 | 1,068.1 | ||||||||
Americas Banking Segment [Member] | Product [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 489.9 | 481.7 | 499.2 | ||||||||
Americas Banking Segment [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 1,515.7 | 1,525.6 | 1,567.3 | ||||||||
Retail Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 1,262.7 | 1,180.3 | 516.4 | ||||||||
Retail Segment [Member] | Service [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 651.9 | 608.3 | 202.6 | ||||||||
Retail Segment [Member] | Product [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | 610.8 | 572 | 313.8 | ||||||||
Retail Segment [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales summary by segment | $ 1,262.7 | $ 1,180.3 | $ 516.4 | ||||||||
Transferred at Point in Time [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | 39.00% | 40.00% | |||||||||
Transferred over Time [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | 61.00% | 60.00% |
Segment Information (Textuals)
Segment Information (Textuals) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Segment Reporting Information [Line Items] | |||
Inventory Write-down | $ 74.5 | $ 4.2 | $ 1.8 |
Legal, Acquisition, and Divestiture Fees | $ 104.3 | ||
Business Combination, Integration Related Costs | $ 47.2 | $ 72.1 | |
Number of customers that account for greater than 10% of revenue | 0 | 0 | 0 |
Segment Reconciling Items [Member] | |||
Segment Reporting Information [Line Items] | |||
Net, non-routine income (expense) | $ 242.7 | $ 261.2 | $ 255.3 |
Diebold Nixdorf AG | |||
Segment Reporting Information [Line Items] | |||
Purchase Accounting Adjustments Pre Tax Charge | $ 128.6 | ||
Purchase Accounting Pretax Charge Amortization Expense | $ 113.4 | $ 160.9 |
Segment Information Geographica
Segment Information Geographical Revenue and Long-Lived Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Property, plant and equipment, net | $ 304.1 | $ 364.5 | $ 304.1 | $ 364.5 | $ 387 | ||||||
Net sales | 1,289.8 | $ 1,119 | $ 1,105.6 | $ 1,064.2 | 1,249.9 | $ 1,122.7 | $ 1,133.9 | $ 1,102.8 | 4,578.6 | 4,609.3 | 3,316.3 |
United States | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Property, plant and equipment, net | 77.8 | 91.7 | 77.8 | 91.7 | 111.2 | ||||||
Net sales | 1,047.7 | 1,049.5 | 1,093.6 | ||||||||
Germany | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Property, plant and equipment, net | 168.2 | 205.3 | 168.2 | 205.3 | 199.7 | ||||||
Net sales | 876.2 | 843 | 329.4 | ||||||||
Other EMEA | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 1,583.8 | 1,537.1 | 853.8 | ||||||||
Other Americas | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 556.7 | 556.3 | 568.7 | ||||||||
Americas [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 1,604.4 | 1,605.8 | 1,662.3 | ||||||||
Other international | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Property, plant and equipment, net | $ 58.1 | $ 67.5 | 58.1 | 67.5 | 76.1 | ||||||
EMEA [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 2,460 | 2,380.1 | 1,183.2 | ||||||||
Asia Pacific [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | $ 514.2 | $ 623.4 | $ 470.8 |
Quarterly Financial Informati_3
Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Trade receivables, net | $ 737.2 | $ 827.9 | $ 737.2 | $ 827.9 | ||||||||
Tax Act Of 2017 Income Tax Expense Benefit | 81.7 | |||||||||||
Restatement of Prior Year Income, Tax Effects | $ (0.5) | $ (0.2) | $ (0.2) | (0.5) | $ (0.4) | $ (0.2) | $ (0.4) | |||||
Restatement of Prior Year Income, Net of Tax | $ (25.9) | $ 5.1 | $ (2.3) | $ (1.9) | $ (3.8) | $ (0.4) | $ (2.4) | |||||
Impact of Restatement on Earnings Per Share, Basic | $ (0.34) | $ 0.07 | $ (0.03) | $ (0.03) | $ (0.05) | $ (0.01) | $ (0.03) | |||||
Impact of Restatement on Earnings Per Share, Diluted | $ (0.34) | $ 0.07 | $ (0.03) | $ (0.03) | $ (0.05) | $ (0.01) | $ (0.03) | |||||
Net sales | 1,289.8 | $ 1,119 | $ 1,105.6 | $ 1,064.2 | $ 1,249.9 | $ 1,122.7 | $ 1,133.9 | $ 1,102.8 | 4,578.6 | 4,609.3 | $ 3,316.3 | |
Gross profit (loss) | 207.8 | 227 | 217.7 | 238.4 | 286.1 | 236.8 | 237.1 | 239.8 | 890.9 | 999.8 | 711.7 | |
Loss from continuing operations, net of tax | (566) | (213.9) | (179.3) | |||||||||
Income from discontinued operations, net of tax | 0 | 0 | 143.7 | |||||||||
Income (loss) from discontinued operations, net of tax | 143.7 | |||||||||||
Net loss | (127.5) | (244.6) | (128.3) | (65.6) | (102.7) | (32.6) | (24.1) | (54.5) | (566) | (213.9) | (35.6) | |
Net (loss) income attributable to noncontrolling interests | (3.9) | (6.1) | 5.1 | 7.6 | 7.4 | 6.6 | 7 | 6.6 | 2.7 | 27.6 | 6 | |
Net income (loss) attributable to Diebold Nixdorf, Incorporated | $ (123.6) | $ (238.5) | $ (133.4) | $ (73.2) | $ (110.1) | $ (39.2) | $ (31.1) | $ (61.1) | $ (568.7) | $ (241.5) | $ (41.6) | |
Basic and diluted earnings (loss) per share | ||||||||||||
Income (loss) from continuing operations, net of tax | $ (7.48) | $ (3.20) | $ (2.68) | |||||||||
Income from discontinued operations, net of tax | 0 | 0 | 2.08 | |||||||||
Net (loss) income attributable to Diebold, Incorporated (USD per share) | $ (1.62) | $ (3.13) | $ (1.76) | $ (0.97) | $ (1.46) | $ (0.52) | $ (0.41) | $ (0.81) | (7.48) | (3.20) | (0.60) | |
Diluted earnings (loss) per share | ||||||||||||
Income (loss) before discontinued operations, net of tax | (7.48) | (3.20) | (2.68) | |||||||||
Income from discontinued operations, net of tax | 0 | 0 | 2.08 | |||||||||
Net (loss) income attributable to Diebold, Incorporated | $ (1.62) | $ (3.13) | $ (1.76) | $ (0.97) | $ (1.46) | $ (0.52) | $ (0.41) | $ (0.81) | $ (7.48) | $ (3.20) | $ (0.60) | |
Basic weighted-average shares outstanding | 76.1 | 76.1 | 76 | 75.8 | 75.5 | 75.5 | 75.5 | 75.3 | 76 | 75.5 | 69.1 | |
Diluted weighted-average shares outstanding | 76.1 | 76.1 | 76 | 75.8 | 75.5 | 75.5 | 75.5 | 75.3 | 76 | 75.5 | 69.1 | |
Undistributed earnings | $ 20.6 | $ 16 | $ 20.6 | $ 16 | ||||||||
Valuation allowance | 175.4 | 105.6 | 175.4 | 105.6 | ||||||||
Impairment loss | 0 | $ 0 | $ 83.1 | 217.5 | ||||||||
Inventories | 610.1 | 714.5 | 610.1 | 714.5 | ||||||||
Other current assets | 306.8 | 247.5 | 306.8 | 247.5 | ||||||||
Goodwill | 827.1 | 1,117.1 | 827.1 | 1,117.1 | $ 998.3 | |||||||
Deferred revenue | 378.2 | 436.5 | 378.2 | 436.5 | ||||||||
Other current liabilities | 446.9 | 531.4 | 446.9 | 531.4 | ||||||||
Redeemable noncontrolling interests | 130.4 | 492.1 | 130.4 | 492.1 | 44.1 | $ 0 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ (159.6) | 482.3 | (159.6) | 482.3 | 1,008.7 | $ 428 | ||||||
NA Electronic Security [Member] | ||||||||||||
Income (loss) from discontinued operations, net of tax | (1.3) | |||||||||||
Diluted earnings (loss) per share | ||||||||||||
Gain (loss) on sale of discontinued operations before taxes | 239.5 | 239.5 | ||||||||||
Inventory Error Correction [Member] | ||||||||||||
Trade receivables, net | (2.3) | (2.3) | $ (2.3) | (2.2) | $ (2.1) | $ (2) | $ (2) | (2.2) | ||||
Restatement of Prior Year Income, Tax Effects | (1.5) | (1.4) | ||||||||||
Restatement of Prior Year Income, Net of Tax | $ (8.4) | $ (8.6) | ||||||||||
Impact of Restatement on Earnings Per Share, Basic | $ (0.11) | $ (0.12) | ||||||||||
Diluted earnings (loss) per share | ||||||||||||
Inventories | (18.5) | (26.6) | (24.9) | (22.5) | (20.5) | (16.7) | (16.3) | $ (22.5) | ||||
Other current assets | (3.9) | (3.8) | (3.5) | (3.5) | (3.4) | (3.1) | (2.7) | (3.5) | ||||
Goodwill | (18.2) | 6.9 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
Deferred revenue | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (1) | ||||
Other current liabilities | (3) | (2.9) | (2.8) | (2.7) | (2.5) | (2.1) | (1.8) | (2.7) | ||||
Redeemable noncontrolling interests | 17.1 | 13.6 | 1.1 | 0 | 0 | 0 | 0 | 0 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | (56) | (35.5) | (28) | (24.5) | (22.5) | (18.7) | (18.2) | (24.5) | ||||
Service [Member] | ||||||||||||
Net sales | 2,789.5 | 2,785.3 | $ 1,908 | |||||||||
Product [Member] | ||||||||||||
Net sales | $ 1,789.1 | 1,824 | 1,408.3 | |||||||||
Cost of sales - services | Inventory Error Correction [Member] | ||||||||||||
Restatement of Prior Year Income, Gross | 0.5 | 1.6 | 1.7 | 1.9 | 2.8 | 0.4 | 2.3 | 8.4 | 8 | |||
Cost of sales - product | Inventory Error Correction [Member] | ||||||||||||
Restatement of Prior Year Income, Gross | 0.8 | 0.4 | 0.8 | 0.4 | 0.4 | 0.3 | 0.4 | $ 1.5 | $ 2 | |||
Asset Impairment Charges [Member] | Inventory Error Correction [Member] | ||||||||||||
Restatement of Prior Year Income, Gross | $ 25.1 | $ (6.9) | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Supplemental Guarantor Inform_3
Supplemental Guarantor Information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Cash, cash equivalents, and restricted cash | $ 458.4 | $ 543.2 | $ 652.7 | $ 313.6 |
Short-term investments | 33.5 | 81.4 | ||
Trade receivables, net | 737.2 | 827.9 | ||
Intercompany receivables | 0 | 0 | ||
Inventories | 610.1 | 714.5 | ||
Prepaid expenses | 57.4 | 65.7 | ||
Other current assets | 306.8 | 247.5 | ||
Total current assets | 2,203.4 | 2,480.2 | ||
Securities and other investments | 22.4 | 96.8 | ||
Property, plant and equipment, net | 304.1 | 364.5 | 387 | |
Goodwill | 827.1 | 1,117.1 | 998.3 | |
Deferred income taxes | 243.9 | 293.8 | ||
Intangible assets, net | 624.6 | 773.8 | ||
Investment in subsidiary | 0 | 0 | ||
Other assets | 86.4 | 95.8 | ||
Assets | 4,311.9 | 5,222 | ||
Notes payable | 49.5 | 66.7 | ||
Accounts payable | 509.5 | 562.2 | ||
Intercompany payable | 0 | 0 | ||
Deferred revenue | 378.2 | 436.5 | ||
Payroll and other benefits liabilities | 184.3 | 198.9 | ||
Other current liabilities | 446.9 | 531.4 | ||
Total current liabilities | 1,568.4 | 1,795.7 | ||
Long-term debt | 2,190 | 1,787.1 | ||
Pensions, post-retirement and other benefits | 273.8 | 266.4 | ||
Deferred income taxes | 221.6 | 287.1 | ||
Other liabilities | 87.3 | 111.3 | ||
Commitments and contingencies | ||||
Redeemable noncontrolling interests | 130.4 | 492.1 | 44.1 | 0 |
Total Diebold Nixdorf, Incorporated shareholders' equity | (186.4) | 445.5 | ||
Noncontrolling interests | 26.8 | 36.8 | ||
Total liabilities and equity | 4,311.9 | 5,222 | ||
Consolidation, Eliminations [Member] | ||||
Cash, cash equivalents, and restricted cash | 0 | 0 | 0 | 0 |
Short-term investments | 0 | 0 | ||
Trade receivables, net | 0 | 0 | ||
Intercompany receivables | (1,236.7) | (1,129.1) | ||
Inventories | 0 | 0 | ||
Prepaid expenses | 0 | 0 | ||
Other current assets | (25.7) | (21.8) | ||
Total current assets | (1,262.4) | (1,150.9) | ||
Securities and other investments | 0 | 0 | ||
Property, plant and equipment, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Intangible assets, net | 0 | 0 | ||
Investment in subsidiary | (2,702.1) | (2,810.9) | ||
Other assets | (13.5) | (26.5) | ||
Assets | (3,978) | (3,988.3) | ||
Notes payable | 0 | 0 | ||
Accounts payable | 0 | 0 | ||
Intercompany payable | (1,236.7) | (1,129.1) | ||
Deferred revenue | 0 | 0 | ||
Payroll and other benefits liabilities | 0 | 0 | ||
Other current liabilities | (21.2) | (21.8) | ||
Total current liabilities | (1,257.9) | (1,150.9) | ||
Long-term debt | 0 | 0 | ||
Pensions, post-retirement and other benefits | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Other liabilities | (18) | (26.5) | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Total Diebold Nixdorf, Incorporated shareholders' equity | (2,702.1) | (2,810.9) | ||
Noncontrolling interests | 0 | 0 | ||
Total liabilities and equity | (3,978) | (3,988.3) | ||
Reportable Legal Entities [Member] | Parent Company [Member] | ||||
Cash, cash equivalents, and restricted cash | 17.3 | 58.5 | 138.9 | 20.3 |
Short-term investments | 0 | 0 | ||
Trade receivables, net | 105.7 | 140.7 | ||
Intercompany receivables | 205.3 | 106.7 | ||
Inventories | 164.8 | 159.4 | ||
Prepaid expenses | 16.4 | 15.7 | ||
Other current assets | 20.4 | 19.7 | ||
Total current assets | 529.9 | 500.7 | ||
Securities and other investments | 22.4 | 96.8 | ||
Property, plant and equipment, net | 76.9 | 89.6 | ||
Goodwill | 58.1 | 55.5 | ||
Deferred income taxes | 139.9 | 150.8 | ||
Intangible assets, net | 30.8 | 37.5 | ||
Investment in subsidiary | 2,702.1 | 2,810.9 | ||
Other assets | 30.2 | 47.2 | ||
Assets | 3,590.3 | 3,789 | ||
Notes payable | 25.7 | 49.9 | ||
Accounts payable | 88.1 | 88.1 | ||
Intercompany payable | 1,030.8 | 1,019.5 | ||
Deferred revenue | 116.6 | 115.8 | ||
Payroll and other benefits liabilities | 26.7 | 26.1 | ||
Other current liabilities | 114.2 | 112.4 | ||
Total current liabilities | 1,402.1 | 1,411.8 | ||
Long-term debt | 2,172.5 | 1,710.6 | ||
Pensions, post-retirement and other benefits | 183.7 | 199.7 | ||
Deferred income taxes | 10 | 10 | ||
Other liabilities | 8.4 | 11.4 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Total Diebold Nixdorf, Incorporated shareholders' equity | (186.4) | 445.5 | ||
Noncontrolling interests | 0 | 0 | ||
Total liabilities and equity | 3,590.3 | 3,789 | ||
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | ||||
Cash, cash equivalents, and restricted cash | 2.7 | 2.3 | 2.3 | 7.9 |
Short-term investments | 0 | 0 | ||
Trade receivables, net | 0.1 | 1.4 | ||
Intercompany receivables | 606.3 | 638.4 | ||
Inventories | 0 | 0 | ||
Prepaid expenses | 0.1 | 1 | ||
Other current assets | 12.5 | 16 | ||
Total current assets | 621.7 | 659.1 | ||
Securities and other investments | 0 | 0 | ||
Property, plant and equipment, net | 0.8 | 2.1 | ||
Goodwill | 0 | 0 | ||
Deferred income taxes | 6.2 | 8 | ||
Intangible assets, net | 0 | 0 | ||
Investment in subsidiary | 0 | 0 | ||
Other assets | 0.4 | 1.1 | ||
Assets | 629.1 | 670.3 | ||
Notes payable | 0.1 | 0.3 | ||
Accounts payable | 0 | 0.1 | ||
Intercompany payable | 60.8 | 22.2 | ||
Deferred revenue | 0.1 | 0.6 | ||
Payroll and other benefits liabilities | 1.3 | 2.2 | ||
Other current liabilities | 1.5 | 2.8 | ||
Total current liabilities | 63.8 | 28.2 | ||
Long-term debt | 0 | 0.1 | ||
Pensions, post-retirement and other benefits | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Other liabilities | 0 | 0 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Total Diebold Nixdorf, Incorporated shareholders' equity | 565.3 | 642 | ||
Noncontrolling interests | 0 | 0 | ||
Total liabilities and equity | 629.1 | 670.3 | ||
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | ||||
Cash, cash equivalents, and restricted cash | 438.4 | 482.4 | $ 511.5 | $ 285.4 |
Short-term investments | 33.5 | 81.4 | ||
Trade receivables, net | 631.4 | 685.8 | ||
Intercompany receivables | 425.1 | 384 | ||
Inventories | 445.3 | 555.1 | ||
Prepaid expenses | 40.9 | 49 | ||
Other current assets | 299.6 | 233.6 | ||
Total current assets | 2,314.2 | 2,471.3 | ||
Securities and other investments | 0 | 0 | ||
Property, plant and equipment, net | 226.4 | 272.8 | ||
Goodwill | 769 | 1,061.6 | ||
Deferred income taxes | 97.8 | 135 | ||
Intangible assets, net | 593.8 | 736.3 | ||
Investment in subsidiary | 0 | 0 | ||
Other assets | 69.3 | 74 | ||
Assets | 4,070.5 | 4,751 | ||
Notes payable | 23.7 | 16.5 | ||
Accounts payable | 421.4 | 474 | ||
Intercompany payable | 145.1 | 87.4 | ||
Deferred revenue | 261.5 | 320.1 | ||
Payroll and other benefits liabilities | 156.3 | 170.6 | ||
Other current liabilities | 352.4 | 438 | ||
Total current liabilities | 1,360.4 | 1,506.6 | ||
Long-term debt | 17.5 | 76.4 | ||
Pensions, post-retirement and other benefits | 90.1 | 66.7 | ||
Deferred income taxes | 211.6 | 277.1 | ||
Other liabilities | 96.9 | 126.4 | ||
Redeemable noncontrolling interests | 130.4 | 492.1 | ||
Total Diebold Nixdorf, Incorporated shareholders' equity | 2,136.8 | 2,168.9 | ||
Noncontrolling interests | 26.8 | 36.8 | ||
Total liabilities and equity | $ 4,070.5 | $ 4,751 |
Supplemental Guarantor Inform_4
Supplemental Guarantor Information (Condensed Consolidation Statement of Operations) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net sales | $ 1,289.8 | $ 1,119 | $ 1,105.6 | $ 1,064.2 | $ 1,249.9 | $ 1,122.7 | $ 1,133.9 | $ 1,102.8 | $ 4,578.6 | $ 4,609.3 | $ 3,316.3 |
Cost of sales | 3,687.7 | 3,609.5 | 2,604.6 | ||||||||
Gross profit (loss) | 207.8 | 227 | 217.7 | 238.4 | 286.1 | 236.8 | 237.1 | 239.8 | 890.9 | 999.8 | 711.7 |
Selling and administrative expense | 885.6 | 933.7 | 761.2 | ||||||||
Research, development and engineering expense | 157.4 | 155.5 | 110.2 | ||||||||
Impairment of assets | 134.4 | 83.1 | 217.5 | 3.1 | 9.8 | ||||||
(Gain) loss on sale of assets, net | (6.7) | 1 | 0.3 | ||||||||
Total operating expense | 1,253.8 | 1,093.3 | 881.5 | ||||||||
Operating profit (loss) | (362.9) | (93.5) | (169.8) | ||||||||
Other income (expense) | |||||||||||
Interest income | 8.7 | 20.3 | 21.5 | ||||||||
Interest expense | (154.9) | (117.3) | (101.4) | ||||||||
Foreign exchange loss, net | (2.5) | (3.9) | (2.1) | ||||||||
Equity in (loss) earnings of unconsolidated subsidiaries, net | (13.2) | 6.3 | 0.4 | ||||||||
Miscellaneous, net | (4) | 2.5 | 3.1 | ||||||||
Income (loss) from continuing operations before taxes | (515.6) | (191.9) | (248.7) | ||||||||
Income tax expense (benefit) | 37.2 | 28.3 | (69) | ||||||||
Loss from continuing operations, net of tax | (566) | (213.9) | (179.3) | ||||||||
Income (loss) from discontinued operations, net of tax | 143.7 | ||||||||||
Net loss | (127.5) | (244.6) | (128.3) | (65.6) | (102.7) | (32.6) | (24.1) | (54.5) | (566) | (213.9) | (35.6) |
Net income attributable to noncontrolling interests, net of tax | (3.9) | (6.1) | 5.1 | 7.6 | 7.4 | 6.6 | 7 | 6.6 | 2.7 | 27.6 | 6 |
Net income (loss) attributable to Diebold Nixdorf, Incorporated | $ (123.6) | $ (238.5) | $ (133.4) | $ (73.2) | $ (110.1) | $ (39.2) | $ (31.1) | $ (61.1) | (568.7) | (241.5) | (41.6) |
Comprehensive loss | (677.3) | (63) | (55.6) | ||||||||
Less: comprehensive income attributable to noncontrolling interests | (1.2) | 33.5 | 9.2 | ||||||||
Comprehensive income (loss) attributable to Diebold Nixdorf, Incorporated | (676.1) | (96.5) | (64.8) | ||||||||
Reportable Legal Entities [Member] | Parent Company [Member] | |||||||||||
Net sales | 2,158.9 | 1,126.4 | 1,137.1 | ||||||||
Cost of sales | 1,994.1 | 902 | 888.5 | ||||||||
Gross profit (loss) | 164.8 | 224.4 | 248.6 | ||||||||
Selling and administrative expense | 306.6 | 283.8 | 314.4 | ||||||||
Research, development and engineering expense | 2.8 | 3.1 | 7.9 | ||||||||
Impairment of assets | 0 | 3.1 | 0 | ||||||||
(Gain) loss on sale of assets, net | (3.4) | 0.5 | 0.3 | ||||||||
Total operating expense | 306 | 290.5 | 322.6 | ||||||||
Operating profit (loss) | (141.2) | (66.1) | (74) | ||||||||
Other income (expense) | |||||||||||
Interest income | 0.3 | 2.3 | 2.5 | ||||||||
Interest expense | (140.7) | (108.7) | (95.1) | ||||||||
Foreign exchange loss, net | (17.3) | (0.5) | (3.5) | ||||||||
Equity in (loss) earnings of unconsolidated subsidiaries, net | (287.4) | (38.6) | (58.3) | ||||||||
Miscellaneous, net | 36.4 | 6.2 | (3.2) | ||||||||
Income (loss) from continuing operations before taxes | (262.5) | (166.8) | (173.3) | ||||||||
Income tax expense (benefit) | 18.8 | 36.1 | (54.8) | ||||||||
Loss from continuing operations, net of tax | (176.8) | ||||||||||
Income (loss) from discontinued operations, net of tax | 135.2 | ||||||||||
Net loss | (568.7) | (241.5) | (41.6) | ||||||||
Net income attributable to noncontrolling interests, net of tax | 0 | 0 | 0 | ||||||||
Net income (loss) attributable to Diebold Nixdorf, Incorporated | (568.7) | (241.5) | (41.6) | ||||||||
Comprehensive loss | (676.1) | (96.5) | (64.8) | ||||||||
Less: comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
Comprehensive income (loss) attributable to Diebold Nixdorf, Incorporated | (676.1) | (96.5) | (64.8) | ||||||||
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | |||||||||||
Net sales | 0.5 | 7.4 | 85 | ||||||||
Cost of sales | 1.9 | 12.3 | 84.2 | ||||||||
Gross profit (loss) | (1.4) | (4.9) | 0.8 | ||||||||
Selling and administrative expense | 4.9 | 10.5 | 11.6 | ||||||||
Research, development and engineering expense | 44.6 | 40.6 | 45.7 | ||||||||
Impairment of assets | 0 | 0 | 5.1 | ||||||||
(Gain) loss on sale of assets, net | 0.1 | 0.4 | (0.1) | ||||||||
Total operating expense | 49.6 | 51.5 | 62.3 | ||||||||
Operating profit (loss) | (51) | (56.4) | (61.5) | ||||||||
Other income (expense) | |||||||||||
Interest income | 0.1 | 0.2 | 0.6 | ||||||||
Interest expense | 0 | 0 | (0.1) | ||||||||
Foreign exchange loss, net | (0.2) | (0.1) | (0.1) | ||||||||
Equity in (loss) earnings of unconsolidated subsidiaries, net | 0 | 0 | 0 | ||||||||
Miscellaneous, net | 1.3 | 7.7 | 7.8 | ||||||||
Income (loss) from continuing operations before taxes | (49.8) | (48.6) | (53.3) | ||||||||
Income tax expense (benefit) | (10.2) | (15.5) | (28.6) | ||||||||
Loss from continuing operations, net of tax | (24.7) | ||||||||||
Income (loss) from discontinued operations, net of tax | 0 | ||||||||||
Net loss | (39.6) | (33.1) | (24.7) | ||||||||
Net income attributable to noncontrolling interests, net of tax | 0 | 0 | 0 | ||||||||
Net income (loss) attributable to Diebold Nixdorf, Incorporated | (39.6) | (33.1) | (24.7) | ||||||||
Comprehensive loss | (39.6) | (33.1) | (24.7) | ||||||||
Less: comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
Comprehensive income (loss) attributable to Diebold Nixdorf, Incorporated | (39.6) | (33.1) | (24.7) | ||||||||
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | |||||||||||
Net sales | 2,419.3 | 3,480.6 | 2,177.4 | ||||||||
Cost of sales | 1,691.8 | 2,700.3 | 1,714.2 | ||||||||
Gross profit (loss) | 727.5 | 780.3 | 463.2 | ||||||||
Selling and administrative expense | 574.1 | 639.4 | 435.2 | ||||||||
Research, development and engineering expense | 110 | 111.8 | 56.6 | ||||||||
Impairment of assets | 217.5 | 0 | 4.7 | ||||||||
(Gain) loss on sale of assets, net | (3.4) | 0.1 | 0.1 | ||||||||
Total operating expense | 898.2 | 751.3 | 496.6 | ||||||||
Operating profit (loss) | (170.7) | 29 | (33.4) | ||||||||
Other income (expense) | |||||||||||
Interest income | 8.3 | 17.8 | 18.4 | ||||||||
Interest expense | (14.2) | (8.6) | (6.2) | ||||||||
Foreign exchange loss, net | 15 | (3.3) | 1.5 | ||||||||
Equity in (loss) earnings of unconsolidated subsidiaries, net | (13.2) | 6.3 | 0.4 | ||||||||
Miscellaneous, net | (41.7) | (11.1) | (0.5) | ||||||||
Income (loss) from continuing operations before taxes | (203.3) | 23.8 | (20.2) | ||||||||
Income tax expense (benefit) | 28.6 | 7.7 | 14.4 | ||||||||
Loss from continuing operations, net of tax | (34.2) | ||||||||||
Income (loss) from discontinued operations, net of tax | 8.5 | ||||||||||
Net loss | (245.1) | 22.4 | (25.7) | ||||||||
Net income attributable to noncontrolling interests, net of tax | 2.7 | 27.6 | 6 | ||||||||
Net income (loss) attributable to Diebold Nixdorf, Incorporated | (247.8) | (5.2) | (31.7) | ||||||||
Comprehensive loss | (339.3) | 193.7 | (60.3) | ||||||||
Less: comprehensive income attributable to noncontrolling interests | (1.2) | 33.5 | 9.2 | ||||||||
Comprehensive income (loss) attributable to Diebold Nixdorf, Incorporated | (338.1) | 160.2 | (69.5) | ||||||||
Consolidation, Eliminations [Member] | |||||||||||
Net sales | (0.1) | (5.1) | (83.2) | ||||||||
Cost of sales | (0.1) | (5.1) | (82.3) | ||||||||
Gross profit (loss) | 0 | 0 | (0.9) | ||||||||
Selling and administrative expense | 0 | 0 | 0 | ||||||||
Research, development and engineering expense | 0 | 0 | 0 | ||||||||
Impairment of assets | 0 | 0 | 0 | ||||||||
(Gain) loss on sale of assets, net | 0 | 0 | 0 | ||||||||
Total operating expense | 0 | 0 | 0 | ||||||||
Operating profit (loss) | 0 | 0 | (0.9) | ||||||||
Other income (expense) | |||||||||||
Interest income | 0 | 0 | 0 | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Foreign exchange loss, net | 0 | 0 | 0 | ||||||||
Equity in (loss) earnings of unconsolidated subsidiaries, net | 287.4 | 38.6 | 58.3 | ||||||||
Miscellaneous, net | 0 | (0.3) | (1) | ||||||||
Income (loss) from continuing operations before taxes | 0 | (0.3) | (1.9) | ||||||||
Income tax expense (benefit) | 0 | 0 | 0 | ||||||||
Loss from continuing operations, net of tax | 56.4 | ||||||||||
Income (loss) from discontinued operations, net of tax | 0 | ||||||||||
Net loss | 287.4 | 38.3 | 56.4 | ||||||||
Net income attributable to noncontrolling interests, net of tax | 0 | 0 | 0 | ||||||||
Net income (loss) attributable to Diebold Nixdorf, Incorporated | 287.4 | 38.3 | 56.4 | ||||||||
Comprehensive loss | 377.7 | (127.1) | 94.2 | ||||||||
Less: comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
Comprehensive income (loss) attributable to Diebold Nixdorf, Incorporated | $ 377.7 | $ (127.1) | $ 94.2 |
Supplemental Guarantor Inform_5
Supplemental Guarantor Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net cash provided by operating activities | $ (104.1) | $ 37.1 | $ 28.7 |
Payments for acquisitions, net of cash acquired | (5.9) | (5.6) | (884.6) |
Proceeds from maturities of investments | 317.8 | 296.2 | 225 |
Proceeds from sale of investments | 0 | 0 | |
Payments for purchases of investments | (200.2) | (329.8) | (243.5) |
Proceeds from divestitures and the sale of assets | 11.1 | 20.9 | 31.3 |
Capital expenditures | (58.5) | (69.4) | (39.5) |
Increase (decrease) in certain other assets | (29.9) | (33.1) | (28.2) |
Proceeds from sale of foreign currency option and forward contracts, net | 0 | 0 | (16.2) |
Capital contributions and loans paid | 0 | 0 | 0 |
Proceeds from intercompany loans | 0 | 0 | 0 |
Net cash provided (used) by investing activities - continuing operations | 34.4 | (120.8) | (923.3) |
Net cash provided by investing activities - discontinued operations | 0 | 0 | 361.9 |
Net cash provided (used) by investing activities | 34.4 | (120.8) | (561.4) |
Dividends paid | (7.7) | (30.6) | (64.6) |
Debt issuance costs | (39.4) | (1.1) | (39.2) |
Revolving debt borrowings (repayments), net | 50 | 75 | (178) |
Other debt borrowings | 725.9 | 374.1 | 1,837.7 |
Other debt repayments | (337.7) | (458.8) | (662.5) |
Distributions to noncontrolling interest holders | (377.2) | (17.6) | (10.2) |
Issuance of common shares | 0 | 0.3 | 0.3 |
Repurchase of common shares | (3) | (5) | (2.2) |
Capital contributions received and loans incurred | 0 | 0 | 0 |
Payments on intercompany loans | 0 | 0 | 0 |
Net cash provided (used) by financing activities | 10.9 | (63.7) | 881.3 |
Effect of exchange rate changes on cash | (18.7) | 37.9 | (8) |
(Decrease) increase in cash, cash equivalents and restricted cash | (77.5) | (109.5) | 340.6 |
Add: Cash overdraft included in assets held for sale at beginning of year | 0 | 0 | (1.5) |
Less: Cash overdraft included in assets held for sale at end of year | 7.3 | 0 | 0 |
Cash, cash equivalents and restricted cash at the beginning of the year | 543.2 | 652.7 | 313.6 |
Cash, cash equivalents and restricted cash at the end of the year | 458.4 | 543.2 | 652.7 |
Reportable Legal Entities [Member] | Parent Company [Member] | |||
Net cash provided by operating activities | (67.8) | (43.9) | (146.4) |
Payments for acquisitions, net of cash acquired | 0 | 0 | (995.2) |
Proceeds from maturities of investments | 71.2 | 0 | (1.9) |
Payments for purchases of investments | 0 | (14) | 0 |
Proceeds from divestitures and the sale of assets | 6.7 | 4.6 | 0 |
Capital expenditures | (6.5) | (13) | (9.2) |
Increase (decrease) in certain other assets | (5.8) | (43) | 0.5 |
Proceeds from sale of foreign currency option and forward contracts, net | 16.2 | ||
Capital contributions and loans paid | (503.2) | (114.5) | (270.2) |
Proceeds from intercompany loans | 29.2 | 210.7 | 106.4 |
Net cash provided (used) by investing activities - continuing operations | (1,153.4) | ||
Net cash provided by investing activities - discontinued operations | 361.9 | ||
Net cash provided (used) by investing activities | (408.4) | 30.8 | (791.5) |
Dividends paid | (7.7) | (30.6) | (64.6) |
Debt issuance costs | (39.4) | (1.1) | (39.2) |
Revolving debt borrowings (repayments), net | 110 | 0 | (178) |
Other debt borrowings | 660 | 323.3 | 1,781.3 |
Other debt repayments | (284.9) | (354.2) | (439.6) |
Distributions to noncontrolling interest holders | 0 | 0 | 0 |
Issuance of common shares | 0.3 | 0.3 | |
Repurchase of common shares | (3) | (5) | (2.2) |
Capital contributions received and loans incurred | 0 | 0 | 0 |
Payments on intercompany loans | 0 | 0 | 0 |
Net cash provided (used) by financing activities | 435 | (67.3) | 1,058 |
Effect of exchange rate changes on cash | 0 | 0 | 0 |
(Decrease) increase in cash, cash equivalents and restricted cash | (41.2) | (80.4) | 120.1 |
Add: Cash overdraft included in assets held for sale at beginning of year | (1.5) | ||
Less: Cash overdraft included in assets held for sale at end of year | 0 | ||
Cash, cash equivalents and restricted cash at the beginning of the year | 58.5 | 138.9 | 20.3 |
Cash, cash equivalents and restricted cash at the end of the year | 17.3 | 58.5 | 138.9 |
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | |||
Net cash provided by operating activities | (37.7) | (41.6) | (43.2) |
Payments for acquisitions, net of cash acquired | 0 | 0 | 0 |
Proceeds from maturities of investments | 0 | 0 | 0 |
Payments for purchases of investments | 0 | 0 | 0 |
Proceeds from divestitures and the sale of assets | 0 | 0 | 0 |
Capital expenditures | (0.1) | (0.1) | (1) |
Increase (decrease) in certain other assets | 0 | 11.8 | (6.8) |
Proceeds from sale of foreign currency option and forward contracts, net | 0 | ||
Capital contributions and loans paid | 0 | 0 | 0 |
Proceeds from intercompany loans | 0 | 0 | 0 |
Net cash provided (used) by investing activities - continuing operations | (7.8) | ||
Net cash provided by investing activities - discontinued operations | 0 | ||
Net cash provided (used) by investing activities | (0.1) | 11.7 | (7.8) |
Dividends paid | 0 | 0 | 0 |
Debt issuance costs | 0 | 0 | 0 |
Revolving debt borrowings (repayments), net | 0 | 0 | 0 |
Other debt borrowings | 0 | 0 | 0 |
Other debt repayments | (0.3) | (1.2) | (1.2) |
Distributions to noncontrolling interest holders | 0 | 0 | 0 |
Issuance of common shares | 0 | 0 | |
Repurchase of common shares | 0 | 0 | 0 |
Capital contributions received and loans incurred | 59 | 67.1 | 133.3 |
Payments on intercompany loans | (20.5) | (36) | (86.7) |
Net cash provided (used) by financing activities | 38.2 | 29.9 | 45.4 |
Effect of exchange rate changes on cash | 0 | 0 | 0 |
(Decrease) increase in cash, cash equivalents and restricted cash | 0.4 | 0 | (5.6) |
Add: Cash overdraft included in assets held for sale at beginning of year | 0 | ||
Less: Cash overdraft included in assets held for sale at end of year | 0 | ||
Cash, cash equivalents and restricted cash at the beginning of the year | 2.3 | 2.3 | 7.9 |
Cash, cash equivalents and restricted cash at the end of the year | 2.7 | 2.3 | 2.3 |
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | |||
Net cash provided by operating activities | 1.4 | 122.6 | 232.1 |
Payments for acquisitions, net of cash acquired | (5.9) | (5.6) | 110.6 |
Proceeds from maturities of investments | 246.6 | 296.2 | 226.9 |
Payments for purchases of investments | (200.2) | (315.8) | (243.5) |
Proceeds from divestitures and the sale of assets | 4.4 | 16.3 | 31.3 |
Capital expenditures | (51.9) | (56.3) | (29.3) |
Increase (decrease) in certain other assets | (24.1) | (1.9) | (21.9) |
Proceeds from sale of foreign currency option and forward contracts, net | 0 | ||
Capital contributions and loans paid | 0 | 0 | (1,119.3) |
Proceeds from intercompany loans | 0 | 0 | 0 |
Net cash provided (used) by investing activities - continuing operations | (1,045.2) | ||
Net cash provided by investing activities - discontinued operations | 0 | ||
Net cash provided (used) by investing activities | (31.1) | (67.1) | (1,045.2) |
Dividends paid | 0 | 0 | (13.8) |
Debt issuance costs | 0 | 0 | 0 |
Revolving debt borrowings (repayments), net | (60) | 75 | 0 |
Other debt borrowings | 65.9 | 50.8 | 56.4 |
Other debt repayments | (52.5) | (103.4) | (221.7) |
Distributions to noncontrolling interest holders | (377.2) | (17.6) | (10.2) |
Issuance of common shares | 0 | 0 | |
Repurchase of common shares | 0 | 0 | 0 |
Capital contributions received and loans incurred | 444.2 | 47.4 | 1,256.2 |
Payments on intercompany loans | (8.7) | (174.7) | (19.7) |
Net cash provided (used) by financing activities | 11.7 | (122.5) | 1,047.2 |
Effect of exchange rate changes on cash | (18.7) | 37.9 | (8) |
(Decrease) increase in cash, cash equivalents and restricted cash | (36.7) | (29.1) | 226.1 |
Add: Cash overdraft included in assets held for sale at beginning of year | 0 | ||
Less: Cash overdraft included in assets held for sale at end of year | 7.3 | ||
Cash, cash equivalents and restricted cash at the beginning of the year | 482.4 | 511.5 | 285.4 |
Cash, cash equivalents and restricted cash at the end of the year | 438.4 | 482.4 | 511.5 |
Consolidation, Eliminations [Member] | |||
Net cash provided by operating activities | 0 | 0 | (13.8) |
Payments for acquisitions, net of cash acquired | 0 | 0 | 0 |
Proceeds from maturities of investments | 0 | 0 | 0 |
Payments for purchases of investments | 0 | 0 | 0 |
Proceeds from divestitures and the sale of assets | 0 | 0 | 0 |
Capital expenditures | 0 | 0 | 0 |
Increase (decrease) in certain other assets | 0 | 0 | 0 |
Proceeds from sale of foreign currency option and forward contracts, net | 0 | ||
Capital contributions and loans paid | 503.2 | 114.5 | 1,389.5 |
Proceeds from intercompany loans | (29.2) | (210.7) | (106.4) |
Net cash provided (used) by investing activities - continuing operations | 1,283.1 | ||
Net cash provided by investing activities - discontinued operations | 0 | ||
Net cash provided (used) by investing activities | 474 | (96.2) | 1,283.1 |
Dividends paid | 0 | 0 | 13.8 |
Debt issuance costs | 0 | 0 | 0 |
Revolving debt borrowings (repayments), net | 0 | 0 | 0 |
Other debt borrowings | 0 | 0 | 0 |
Other debt repayments | 0 | 0 | 0 |
Distributions to noncontrolling interest holders | 0 | 0 | 0 |
Issuance of common shares | 0 | 0 | |
Repurchase of common shares | 0 | 0 | 0 |
Capital contributions received and loans incurred | (503.2) | (114.5) | (1,389.5) |
Payments on intercompany loans | 29.2 | 210.7 | 106.4 |
Net cash provided (used) by financing activities | (474) | 96.2 | (1,269.3) |
Effect of exchange rate changes on cash | 0 | 0 | 0 |
(Decrease) increase in cash, cash equivalents and restricted cash | 0 | 0 | 0 |
Add: Cash overdraft included in assets held for sale at beginning of year | 0 | ||
Less: Cash overdraft included in assets held for sale at end of year | 0 | ||
Cash, cash equivalents and restricted cash at the beginning of the year | 0 | 0 | 0 |
Cash, cash equivalents and restricted cash at the end of the year | $ 0 | $ 0 | $ 0 |