Rendering

Component: (Network and Table)
Network
2303301 - Disclosure - Balance Sheet Accounts and Supplemental Disclosures (Tables)
(http://gencorp.com/role/BalanceSheetAccountsAndSupplementalDisclosuresTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000040888 (http://www.sec.gov/CIK)
Organization, Consolidation and Presentation of Financial Statements [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Organization, Consolidation and Presentation of Financial Statements [Abstract]
 
Schedule of Accounts Receivable
 
As of December 31,

2016
 
2015
 
(In millions)
Billed
$
55.7


$
114.1

Unbilled
124.1


91.6

Reserve for overhead rate disallowance
(44.5
)
 
(36.8
)
Total receivables under long-term contracts
135.3


168.9

Other receivables
1.1


0.6

Accounts receivable
$
136.4


$
169.5

  
Schedule of Inventories
 
As of December 31,

2016

2015
 
(In millions)
Long-term contracts at average cost
$
551.9


$
543.5

Progress payments
(368.2
)

(388.5
)
Total long-term contract inventories
183.7


155.0

Total other inventories
1.4


1.2

Inventories
$
185.1


$
156.2

  
Schedule of Other Current Assets, net
 
As of December 31,
 
2016

2015
 
(In millions)
Recoverable from the U.S. government for Rocketdyne Business integration costs (see Note 3(f))
$
11.9

 
$
11.9

Prepaid expenses
16.5

 
11.9

Receivables, net
17.8

 
10.6

Indemnification receivable from UTC, net
5.5

 
15.7

Recoverable from the U.S. government for competitive improvement program obligations (see Note 10)
7.6

 
9.1

Income tax receivable
26.8

 
1.6

Other
5.6

 
8.4

Other current assets, net
$
91.7

 
$
69.2

  
Schedule of Property, Plant and Equipment, net
 
As of December 31,
 
2016
 
2015
 
(In millions)
Land
$
71.4


$
71.4

Buildings and improvements
304.2


290.1

Machinery and equipment
540.8


510.6

Construction-in-progress
30.4


32.5


946.8


904.6

Less: accumulated depreciation
(580.8
)

(541.3
)
Property, plant and equipment, net
$
366.0


$
363.3

  
Schedule of Intangible Assets
 
As of December 31, 2016
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
(In millions)
Customer related
$
83.8

 
$
37.4

 
$
46.4

Intellectual property\trade secrets
34.2

 
9.2

 
25.0

Non-compete agreements
0.5

 
0.5

 
—

Trade name
20.5

 
2.4

 
18.1

Acquired technology
18.3

 
13.4

 
4.9

Intangible assets
$
157.3

 
$
62.9

 
$
94.4

 
As of December 31, 2015
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
(In millions)
Customer related
$
83.8

 
$
28.3

 
$
55.5

Intellectual property\trade secrets
34.2

 
6.6

 
27.6

Non-compete agreements
0.5

 
0.4

 
0.1

Trade name
20.5

 
1.7

 
18.8

Acquired technology
18.3

 
12.6

 
5.7

Intangible assets
$
157.3

 
$
49.6

 
$
107.7

  
Schedule of Future Amortization Expense for Intangible Assets
Future amortization expense for the five succeeding years was estimated to be as follows:
Year Ending December 31,
Future Amortization Expense
 
(In millions)

2017
$
13.1

2018
13.1

2019
13.0

2020
12.8

2021
9.3

 
$
61.3

  
Schedule of Other Noncurrent Assets, net
 
As of December 31,

2016
 
2015
 
(In millions)
Recoverable from the U.S. government for Rocketdyne Business integration costs
$
10.9


$
21.2

Deferred financing costs
3.4


2.1

Recoverable from the U.S. government for conditional asset retirement obligations
20.3


17.8

Grantor trust
16.6


10.3

Note receivable, net
9.0

 
9.0

Recoverable from the U.S. government for competitive improvement program obligations (see Note 10)
1.3

 
3.2

Recoverable from the U.S. government for restructuring costs
12.8

 
3.3

Income tax receivable
10.8

 
7.9

Other
5.1


6.8

Other noncurrent assets, net
$
90.2


$
81.6

  
Summary of Impact from Land Sale
A summary of the impact of the land sale on the consolidated statement of operations for fiscal 2015 was as follows (in millions):
Net sales from land sale
$
42.0

Cost of sales from land sale
11.4

Income from continuing operations before income taxes from land sale
30.6

Income tax provision related to land sale
12.7

Net income from land sale
$
17.9

  
Schedule of Other Current Liabilities
 
As of December 31,
 
2016
 
2015
 
(In millions)
Accrued compensation and employee benefits
$
105.7


$
90.4

Income taxes
2.1

 
20.3

Competitive improvement program obligations (see Note 10)
7.6

 
9.4

Payable to UTC for Transition Service Agreements
1.3


1.9

Interest payable
4.1


12.9

Contract loss provisions
6.8


9.1

Other
40.2


59.1

Other current liabilities
$
167.8


$
203.1

  
Schedule of Other Noncurrent Liabilities
 
As of December 31,
 
2016
 
2015
 
(In millions)
Conditional asset retirement obligations
$
30.6


$
29.5

Pension benefits, non-qualified
17.5


17.6

Deferred compensation
19.8


11.5

Deferred revenue
13.3


13.8

Competitive improvement program obligations (see Note 10)
1.3

 
3.2

Uncertain income tax positions
28.4

 
7.0

Other
13.1


12.6

Other noncurrent liabilities
$
124.0


$
95.2

  
Schedule of Accumulated Other Comprehensive Loss, Net of Income Taxes
Changes in accumulated other comprehensive loss by components, net of income taxes:

Actuarial
Losses, Net

Prior Service
Credits, Net

Total
 
(In millions)
November 30, 2014
$
(337.0
)
 
$
3.3

 
$
(333.7
)
Actuarial losses arising during the period, net of income taxes
(55.0
)
 
(1.6
)
 
(56.6
)
Amortization of actuarial losses and prior service credits, net of income taxes
49.4

 
(0.8
)
 
48.6

November 30, 2015
(342.6
)
 
0.9

 
(341.7
)
Actuarial losses arising during the period, net of income taxes
(8.6
)
 
—

 
(8.6
)
Amortization of actuarial losses and prior service credits, net of income taxes
3.4

 
(0.1
)
 
3.3

December 31, 2015
(347.8
)

0.8


(347.0
)
Actuarial gains arising during the period, net of income taxes
7.5

 
—

 
7.5

Amortization of actuarial losses and prior service credits, net of income taxes
37.1

 
(0.6
)
 
36.5

December 31, 2016
$
(303.2
)

$
0.2


$
(303.0
)
  
Schedule of Estimated Amounts to be Amortized from Other Comprehensive Loss to Net Periodic Benefit Expense
The estimated amounts that will be amortized from accumulated other comprehensive loss into net periodic benefit expense in fiscal 2017:
 
Pension Benefits
 
Medical and Life Insurance Benefits
 
(In millions)
Actuarial losses (gains), net
$
67.8

 
$
(4.1
)
Prior service costs (credits), net
0.1

 
(0.2
)
 
$
67.9

 
$
(4.3
)