UNIVAR SOLUTIONS INC., 10-Q filed on 8/7/2020
Quarterly Report
v3.20.2
Document and Entity Information - shares
 6 Months Ended
Jun. 30, 2020
Jul. 23, 2020
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2020  
Document Transition Report false  
Entity File Number 001-37443  
Entity Registrant Name Univar Solutions Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 26-1251958  
Entity Address, Address Line One 3075 Highland Parkway, Suite 200  
Entity Address, City or Town Downers Grove,  
Entity Address, State or Province IL  
Entity Address, Postal Zip Code 60515  
City Area Code 331  
Local Phone Number 777-6000  
Title of 12(b) Security Common Stock ($0.01 par value)  
Trading Symbol UNVR  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   169,061,679
Amendment Flag false  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001494319  
Current Fiscal Year End Date --12-31  
v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net sales $ 2,009.2 $ 2,584.6 $ 4,220.4 $ 4,744.6
Cost of goods sold (exclusive of depreciation) 1,520.1 2,007.3 3,198.7 3,670.9
Operating expenses:        
Outbound freight and handling 80.7 95.4 172.2 178.3
Warehousing, selling and administrative 245.5 280.8 525.0 534.2
Other operating expenses, net 43.6 63.8 47.7 228.6
Depreciation 40.4 39.7 82.1 72.9
Amortization 14.8 18.6 30.6 33.0
Impairment charges 16.9 0.0 16.9 0.0
Total operating expenses 441.9 498.3 874.5 1,047.0
Operating income 47.2 79.0 147.2 26.7
Other (expense) income:        
Interest income 0.2 1.1 1.2 1.7
Interest expense (30.1) (39.0) (59.2) (73.8)
Loss on sale of business 0.0 0.0 (8.6) 0.0
Loss on extinguishment of debt 0.0 0.0 (1.8) (0.7)
Other expense, net (3.9) (5.6) (9.8) (11.7)
Total other expense (33.8) (43.5) (78.2) (84.5)
Income (loss) before income taxes 13.4 35.5 69.0 (57.8)
Income tax expense (benefit) 11.6 18.5 11.3 (4.8)
Net income (loss) from continuing operations 1.8 17.0 57.7 (53.0)
Net (loss) income from discontinued operations 0.0 (0.7) 0.0 5.4
Net income (loss) $ 1.8 $ 16.3 $ 57.7 $ (47.6)
Income (loss) per common share:        
Basic from continuing operations (in dollars per share) $ 0.01 $ 0.10 $ 0.34 $ (0.33)
Basic from discontinued operations (in dollars per share) 0 0 0 0.03
Basic income (loss) per common share (in dollars per share) 0.01 0.10 0.34 (0.30)
Diluted from continuing operations (in dollars per share) 0.01 0.10 0.34 (0.33)
Diluted from discontinued operations (in dollars per share) 0 0 0 0.03
Diluted income (loss) per common share (in dollars per share) $ 0.01 $ 0.10 $ 0.34 $ (0.30)
Weighted average common shares outstanding:        
Basic (in shares) 168.9 169.8 168.8 159.5
Diluted (in shares) 169.6 170.7 169.6 159.5
v3.20.2
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 1.8 $ 16.3 $ 57.7 $ (47.6)
Other comprehensive (loss) income, net of tax:        
Impact due to adoption of ASUs [1] 0.0 0.0 0.0 (3.2)
Foreign currency translation 19.7 11.6 (74.4) 19.8
Pension and postretirement benefit adjustment 0.1 0.1 0.1 0.1
Derivative financial instruments (5.3) (15.9) (21.4) (24.2)
Total other comprehensive income (loss), net of tax 14.5 (4.2) (95.7) (7.5)
Comprehensive income (loss) $ 16.3 $ 12.1 $ (38.0) $ (55.1)
Accounting Standards Update [Extensible List]       us-gaap:AccountingStandardsUpdate201802Member
[1] Adjusted due to the adoption of Accounting Standards Update (“ASU”) 2018-02 “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” on January 1, 2019.
v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 547.4 $ 330.3
Trade accounts receivable, net of allowance for doubtful accounts of $20.6 and $12.9 at June 30, 2020 and December 31, 2019, respectively. 1,250.6 1,160.1
Inventories 755.1 796.0
Prepaid expenses and other current assets 175.0 167.2
Total current assets 2,728.1 2,453.6
Property, plant and equipment, net 1,101.5 1,152.4
Goodwill 2,263.2 2,280.8
Intangible assets, net 276.0 320.2
Deferred tax assets 21.6 21.3
Other assets 258.8 266.5
Total assets 6,649.2 6,494.8
Current liabilities:    
Short-term financing 0.9 0.7
Trade accounts payable 906.0 895.0
Current portion of long-term debt 27.0 25.0
Accrued compensation 81.1 103.6
Other accrued expenses 425.4 425.1
Total current liabilities 1,440.4 1,449.4
Long-term debt 2,902.1 2,688.8
Pension and other postretirement benefit liabilities 286.2 295.6
Deferred tax liabilities 51.8 56.3
Other long-term liabilities 265.5 271.9
Total liabilities 4,946.0 4,762.0
Stockholders’ equity:    
Preferred stock, 200.0 million shares authorized at $0.01 par value with no shares issued or outstanding as of June 30, 2020 and December 31, 2019 0.0 0.0
Common stock, 2.0 billion shares authorized at $0.01 par value with 169.0 million and 168.7 million shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 1.7 1.7
Additional paid-in capital 2,977.3 2,968.9
Accumulated deficit (800.8) (858.5)
Accumulated other comprehensive loss (475.0) (379.3)
Total stockholders’ equity 1,703.2 1,732.8
Total liabilities and stockholders’ equity $ 6,649.2 $ 6,494.8
v3.20.2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts $ 20.6 $ 12.9
Preferred stock, shares authorized (in shares) 200,000,000.0 200,000,000.0
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, share issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, shares authorized (in shares) 2,000,000,000.0 2,000,000,000.0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares issued (in shares) 169,000,000.0 168,700,000
Common stock, shares outstanding (in shares) 169,000,000.0 168,700,000
v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income (loss) $ 57.7 $ (47.6)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization 112.7 105.9
Asset Impairment Charges 16.9 0.0
Amortization of deferred financing fees and debt discount 3.3 4.8
Amortization of pension credit from accumulated other comprehensive loss 0.1 0.1
Loss on sale of business 8.6 0.0
(Gain) loss on sale of property, plant and equipment (7.5) 1.5
Loss on extinguishment of debt 1.8 0.7
Deferred income taxes (4.5) (24.9)
Stock-based compensation expense 8.3 17.3
Other 1.8 1.5
Changes in operating assets and liabilities:    
Trade accounts receivable, net (111.1) (153.8)
Inventories 22.0 22.4
Prepaid expenses and other current assets (24.6) (27.2)
Trade accounts payable 30.3 10.4
Pensions and other postretirement benefit liabilities (8.1) (12.7)
Other, net (34.2) (78.9)
Net cash provided (used) by operating activities 73.5 (180.5)
Investing activities:    
Purchases of property, plant and equipment (45.0) (45.4)
Purchases of businesses, net of cash acquired 0.0 (1,155.5)
Proceeds from sale of property, plant and equipment 13.0 0.8
(Payments)/proceeds from sale of business (8.2) 640.0
Other (7.0) (1.3)
Net cash used by investing activities (47.2) (561.4)
Financing activities:    
Proceeds from issuance of long-term debt 0.0 947.0
Payments on long-term debt and finance lease obligations (189.3) (459.5)
Net proceeds under revolving credit facilities 384.4 248.8
Short-term financing, net 3.5 (6.9)
Taxes paid related to net share settlements of stock-based compensation awards (1.4) (2.8)
Stock option exercises 0.7 5.7
Other 0.7 0.6
Net cash provided by financing activities 198.6 732.9
Effect of exchange rate changes on cash and cash equivalents (7.8) (3.1)
Net increase (decrease) in cash and cash equivalents 217.1 (12.1)
Cash and cash equivalents at beginning of period 330.3 121.6
Cash and cash equivalents at end of period 547.4 109.5
Cash paid during the period for:    
Income taxes 20.2 22.9
Interest, net of capitalized interest 50.5 66.9
Non-cash activities:    
Fair value of common stock issued for acquisition of business 0.0 649.3
Additions of property, plant and equipment included in trade accounts payable and other accrued expenses 3.8 6.3
Additions of property, plant and equipment under a finance lease obligation 23.2 2.9
Additions of assets under an operating lease obligation $ 26.5 $ 8.9
v3.20.2
Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common stock
Additional paid-in capital
Accumulated deficit
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Impact due to adoption of ASU 2018-02 [1]       $ 3.2 $ (3.2)
Beginning balance (in shares) at Dec. 31, 2018   141.7      
Beginning balance at Dec. 31, 2018 $ 1,191.7 $ 1.4 $ 2,325.0 (761.5) (373.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) (47.6)     (47.6)  
Foreign currency translation adjustment 19.8       19.8
Pension and other postretirement benefits adjustment (0.1)        
Derivative financial instruments, net of tax (24.2)       (24.2)
Common stock issued for the Nexeo acquisition (in shares)   27.9      
Common stock issued for the Nexeo acquisition 649.3 [2] $ 0.3 649.0    
Shares cancelled (in shares)   (1.5)      
Shares cancelled (35.5)   (35.5)    
Restricted stock units vested (in shares)   0.3      
Tax withholdings related to net share settlements of stock-based compensation awards (in shares)   (0.1)      
Tax withholdings related to net share settlements of stock-based compensation awards (2.8)   (2.8)    
Stock option exercises (in shares)   0.3      
Stock option exercises 5.7   5.7    
Stock-based compensation 17.3   17.3    
Employee stock purchase plan 0.6   0.6    
Other 0.1   0.1    
Ending balance (in shares) at Jun. 30, 2019   168.6      
Ending balance at Jun. 30, 2019 1,774.5 $ 1.7 2,959.4 (805.9) (380.7)
Beginning balance (in shares) at Mar. 31, 2019   169.7      
Beginning balance at Mar. 31, 2019 1,781.0 $ 1.7 2,978.0 (822.2) (376.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 16.3     16.3  
Foreign currency translation adjustment 11.6       11.6
Pension and other postretirement benefits adjustment (0.1)        
Derivative financial instruments, net of tax $ (15.9)       (15.9)
Shares cancelled (in shares) [2] (1.5)        
Shares cancelled [2] $ (35.5)        
Restricted stock units vested (in shares)   0.1      
Tax withholdings related to net share settlements of stock-based compensation awards (in shares)   0.0      
Tax withholdings related to net share settlements of stock-based compensation awards $ (0.8)   (0.8)    
Stock option exercises (in shares) 0.3        
Stock option exercises $ 5.7        
Stock-based compensation 11.3   11.3    
Employee stock purchase plan 0.6        
Other 0.1        
Ending balance (in shares) at Jun. 30, 2019   168.6      
Ending balance at Jun. 30, 2019 $ 1,774.5 $ 1.7 2,959.4 (805.9) (380.7)
Beginning balance (in shares) at Dec. 31, 2019 168.7 168.7      
Beginning balance at Dec. 31, 2019 $ 1,732.8 $ 1.7 2,968.9 (858.5) (379.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 57.7     57.7  
Foreign currency translation adjustment (74.4)       (74.4)
Pension and other postretirement benefits adjustment 0.1       0.1
Derivative financial instruments, net of tax (21.4)       (21.4)
Restricted stock units vested (in shares)   0.3      
Restricted stock units vested 0.0        
Tax withholdings related to net share settlements of stock-based compensation awards (in shares)   (0.1)      
Tax withholdings related to net share settlements of stock-based compensation awards (1.4)   (1.4)    
Stock option exercises (in shares)   0.1      
Stock option exercises 0.7   0.7    
Stock-based compensation 8.3   8.3    
Employee stock purchase plan 0.7        
Other $ 0.1        
Ending balance (in shares) at Jun. 30, 2020 169.0 169.0      
Ending balance at Jun. 30, 2020 $ 1,703.2 $ 1.7 2,977.3 (800.8) (475.0)
Beginning balance (in shares) at Mar. 31, 2020   168.9      
Beginning balance at Mar. 31, 2020 1,683.6 $ 1.7 2,974.0 (802.6) (489.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 1.8     1.8  
Foreign currency translation adjustment 19.7       19.7
Pension and other postretirement benefits adjustment 0.1        
Derivative financial instruments, net of tax (5.3)       (5.3)
Restricted stock units vested (in shares)   0.1      
Tax withholdings related to net share settlements of stock-based compensation awards (0.1)   (0.1)    
Stock-based compensation 2.6   2.6    
Employee stock purchase plan 0.7   0.7    
Other $ 0.1        
Ending balance (in shares) at Jun. 30, 2020 169.0 169.0      
Ending balance at Jun. 30, 2020 $ 1,703.2 $ 1.7 $ 2,977.3 $ (800.8) $ (475.0)
[1] Adjusted due to the adoption of ASU 2018-02 “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” on January 1, 2019.
[2] Refer to “Note 3: Business combinations” for more information.
v3.20.2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]        
Derivative financial instruments, tax expense (benefit) $ 2.3 $ 5.3 $ 9.3 $ 8.1
Foreign currency translation adjustment tax expense (benefit)     $ (4.7)  
Accounting Standards Update [Extensible List]       us-gaap:AccountingStandardsUpdate201802Member
v3.20.2
Nature of operations
 6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of operations
1. Nature of operations
Headquartered in Downers Grove, Illinois, Univar Solutions Inc. (“Univar Solutions,” “Company,” “we,” “our” and “us”) is a leading global chemical and ingredient distributor and provider of value-added services to customers across a wide range of industries. The Company’s operations are structured into four reportable segments that represent the geographic areas under which the Company manages its business:
•Univar Solutions USA (“USA”)
•Univar Solutions Europe, the Middle East and Africa (“EMEA”)
•Univar Solutions Canada (“Canada”)
•Univar Solutions Latin America (“LATAM”)
LATAM includes certain developing businesses in Latin America (including Brazil and Mexico) and the Asia-Pacific region.
v3.20.2
Significant accounting policies
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Significant accounting policies
2. Significant accounting policies
Basis of presentation
The condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) as applicable to interim financial reporting. These condensed consolidated financial statements, in the Company’s opinion, include all adjustments consisting of normal recurring accruals necessary for a fair presentation of the condensed consolidated balance sheets, statements of operations, comprehensive income, cash flows and changes in stockholders’ equity. The results of operations for the periods presented are not necessarily indicative of the operating results that may be expected for the full year. The accompanying condensed consolidated financial statements of Univar Solutions includes the combined results of all directly and indirectly controlled companies, which have been adjusted to account for the elimination of intercompany balances and transactions.
On our condensed consolidated statements of cash flows for the six months ended June 30, 2019, the amounts included in “net proceeds under revolving credit facilities,” which were previously included in “proceeds from issuance of long-term debt,” are now presented separately to conform to the current year presentation.
The preparation of condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and accompanying notes. Actual results could differ materially from these estimates. These condensed consolidated financial statements and related footnotes are unaudited and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Recently adopted accounting pronouncements
On January 1, 2020, the Company adopted ASU 2016-13 “Financial Instruments - Credit Losses” (Topic 326), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. The transition to the new methodology did not have a significant financial impact and the Company did not recognize a cumulative-effect adjustment to the opening balance of accumulated deficit.
On January 1, 2020, the Company adopted ASU 2018-13 “Fair Value Measurement” (Topic 820), which modifies the disclosure requirements for fair value measurements by removing, modifying and adding certain disclosures.
On January 1, 2020, the Company adopted ASU 2018-15 “Intangibles - Goodwill and Other - Internal-Use Software” (Subtopic 350-40), which aligns the requirements for capitalizing implementation costs incurred in a service contract hosting arrangement with those for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted this guidance on a prospective basis.
Accounting pronouncements issued and not yet adopted
In August 2018, the FASB issued ASU 2018-14 “Compensation - Retirement Benefits - Defined Benefit Plans - General” (Subtopic 715-20), which amends the disclosure requirements related to defined benefit pension and other postretirement plans. The Company will adopt this guidance effective January 1, 2021 and is currently determining the impacts that will be reflected in financial statement disclosures.
In December 2019, the FASB issued ASU 2019-12 “Income Taxes” (Topic 740) – “Simplifying the Accounting for Income Taxes.” The Company will adopt this guidance effective January 1, 2021 and is currently determining the impacts of the guidance on our consolidated financial statements.
In March 2020, the FASB issued ASU 2020-04 “Reference Rate Reform” (Topic 848) – “Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which provides optional expedients and exceptions for applying US GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform from currently referenced rates, such as LIBOR, to alternative rates. The ASU is effective beginning March 12, 2020 and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently determining the impacts of the guidance on our consolidated financial statements.
v3.20.2
Business combinations
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Business combinations
3. Business combinations
2019 Acquisition
Acquisition of Nexeo Solutions
On February 28, 2019, the Company completed an acquisition of 100% of the equity interest of Nexeo Solutions, Inc. (“Nexeo”), a leading global chemicals and plastics distributor. The acquisition expanded and strengthened Univar Solutions’ presence in North America and provides expanded opportunities to create the largest North American sales force in chemical and ingredients distribution and the broadest product offering.
The total purchase price of the acquisition was $1,814.8 million, composed of $1,201.0 million of cash paid (net of cash acquired of $46.8 million) and $613.8 million of newly issued shares of Univar Solutions common stock, which represented approximately 26.4 million shares, based on Univar Solutions’ closing stock price of $23.29 on February 27, 2019. The final 26.4 million shares issued include the cancellation of 1.5 million shares in connection with the appraisal litigation settlement during the second quarter of 2019.
As of March 31, 2020, the Company updated the purchase price allocation to reflect final deferred income tax adjustments, resulting in a $7.0 million increase to goodwill. The accounting for this acquisition was complete as of March 31, 2020.
The final purchase price allocation is shown below:
(in millions)As of December 31, 2019Measurement Period AdjustmentsFinal
March 31, 2020
Trade accounts receivable, net$296.3  $—  $296.3  
Inventories150.2  —  150.2  
Prepaid expenses and other current assets65.4  (1.2) 64.2  
Assets held for sale888.2  —  888.2  
Property, plant and equipment, net262.3  —  262.3  
Goodwill555.7  7.0  562.7  
Intangible assets, net138.7  —  138.7  
Other assets37.4  (0.4) 37.0  
Trade accounts payable(137.7) —  (137.7) 
Other accrued expenses(145.8) 1.3  (144.5) 
Liabilities held for sale(221.5) —  (221.5) 
Deferred tax liabilities(4.2) (6.7) (10.9) 
Other long-term liabilities(70.2) —  (70.2) 
Purchase consideration, net of cash$1,814.8  $—  $1,814.8  
Assets and liabilities held for sale are related to the Nexeo plastics distribution business (“Nexeo Plastics”). Nexeo Plastics was not aligned with the Company’s strategic objectives and, on March 29, 2019, the business was sold for total net proceeds of $664.3 million. Refer to “Note 4: Discontinued operations and dispositions” for further information.
The Company recorded $562.7 million of goodwill, consisting of $547.1 million in the USA segment, $3.8 million in Canada and $11.8 million in LATAM. The goodwill is primarily attributable to expected synergies from combining operations. The Company expects approximately $76.0 million of goodwill to be deductible for income tax purposes.
The Company assumed 50.0 million warrants, equivalent to 25.0 million Nexeo shares, with an estimated aggregate fair value of $26.0 million at the February 28, 2019 closing date. The warrants were converted into the right to receive, upon exercise, the merger consideration consisting of approximately 7.6 million shares of Univar Solutions common stock plus cash. The warrants have an exercise price of $27.80 and will expire on June 9, 2021. The warrants are recorded as other accrued expenses within the condensed consolidated balance sheet. Refer to “Note 15: Fair value measurements” for more information.
v3.20.2
Discontinued operations
 6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued operations and dispositions
4. Discontinued operations and dispositions
Discontinued operations
On March 29, 2019, the Company completed the sale of Nexeo Plastics to an affiliate of One Rock Capital Partners, LLC (“Buyer”) for total proceeds of $664.3 million (net of cash disposed of $2.4 million), including $26.7 million for a working capital adjustment. The Nexeo purchase price allocation is inclusive of these working capital adjustments. Refer to “Note 3: Business combinations” for more information.
In connection with the transaction, the Company entered into a Transition Services Agreement (TSA), a Warehouse Service Agreement (WSA) and Real Property Agreements with the Buyer which are designed to ensure and facilitate an orderly transfer of business operations and will terminate at various times, between six and twenty-four months and can be renewed with a maximum of two twelve-month periods. The income and expense for the services will be reported as other operating expenses, net in the condensed consolidated statements of operations. The Real Property Agreements will have a maximum tenure of three years. These arrangements do not constitute significant continuing involvement in Nexeo Plastics. 
The following table summarizes the operating results of Nexeo Plastics for the three and six months ended June 30, 2019, as presented in “Net (loss) income from discontinued operations” on the condensed consolidated statements of operations.
(in millions)Three months ended June 30, 2019Six months ended June 30, 2019
External sales$—  $156.9  
Cost of goods sold (exclusive of depreciation)—  136.7  
Outbound freight and handling—  3.5  
Warehousing, selling and administrative—  7.9  
Other expenses—  1.4  
Income from discontinued operations before income taxes$—  $7.4  
Income tax expense from discontinued operations (1)
0.7  2.0  
Net (loss) income from discontinued operations$(0.7) $5.4  
(1)The provision for income taxes for the three months ended June 30, 2019 includes an adjustment to the tax expense related to the one month operations reported as of March 31, 2019.
There were no significant non-cash operating activities from the Company’s discontinued operations related to Nexeo Plastics.
Dispositions
On December 31, 2019, the Company completed the sale of the Environmental Sciences business to affiliates of AEA Investors LP for total cash proceeds of $174.0 million (net of cash disposed of $0.7 million and $5.9 million of transaction expenses) plus a $5.0 million ($2.4 million present value) subordinated note receivable (the “Transaction”) and recorded a pre-tax gain on sale of $41.4 million. In the first quarter of 2020, we recorded a net working capital adjustment of $8.2 million, reducing the proceeds and the gain on sale recorded in the fourth quarter of 2019. The sale of the business did not meet the criteria to be classified as a discontinued operation in the Company’s financial statements because the disposition did not represent a strategic shift, that has, or will have, a major effect on the Company's operations and financial results.
The following summarizes the income before income taxes attributable to the Environmental Sciences business:
(in millions)Three months ended June 30, 2019Six months ended June 30, 2019
Income before income taxes$12.5  $14.7  
v3.20.2
Revenue
 6 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenue
5. Revenue
The Company disaggregates revenues from contracts with customers by both geographic reportable segments and revenue contract types. Geographic reportable segmentation is pertinent to understanding Univar Solutions’ revenues, as it aligns to how the Company reviews the financial performance of its operations. Revenue contract types are differentiated by the type of good or service Univar Solutions offers customers, since the contractual terms necessary for revenue recognition are unique to each of the identified revenue contract types.
The following tables disaggregate external customer net sales by major stream:
USAEMEACanadaLATAMConsolidated
(in millions)Three months ended June 30, 2020
Chemical Distribution$1,097.1  $409.3  $172.0  $96.8  $1,775.2  
Crop Sciences—  —  147.4  —  147.4  
Services72.3  0.3  12.1  1.9  86.6  
Total external customer net sales$1,169.4  $409.6  $331.5  $98.7  $2,009.2  
USAEMEACanadaLATAMConsolidated
(in millions)Three months ended June 30, 2019
Chemical Distribution$1,515.6  $457.5  $225.1  $114.6  $2,312.8  
Crop Sciences—  —  167.1  —  167.1  
Services89.7  0.4  12.6  2.0  104.7  
Total external customer net sales$1,605.3  $457.9  $404.8  $116.6  $2,584.6  

USAEMEACanadaLATAMConsolidated
(in millions)Six months ended June 30, 2020
Chemical Distribution$2,367.6  $869.2  $380.3  $202.1  $3,819.2  
Crop Sciences—  —  211.8  —  211.8  
Services159.3  0.7  25.2  4.2  189.4  
Total external customer net sales$2,526.9  $869.9  $617.3  $206.3  $4,220.4  
USAEMEACanadaLATAMConsolidated
(in millions)Six months ended June 30, 2019
Chemical Distribution$2,763.1  $940.9  $436.8  $207.2  $4,348.0  
Crop Sciences—  —  217.6  —  217.6  
Services149.4  0.7  24.2  4.7  179.0  
Total external customer net sales$2,912.5  $941.6  $678.6  $211.9  $4,744.6  
Deferred revenue
Deferred revenues are recognized as a contract liability when customers provide Univar Solutions with consideration prior to the Company satisfying a performance obligation and are recognized in revenue when the performance obligations are met. Deferred revenues relate to revenues that are expected to be recognized within one year and are recorded within the other accrued expenses line items of the condensed consolidated balance sheets. Deferred revenues as of June 30, 2020 and December 31, 2019 were $7.9 million and $65.5 million, respectively.
Revenue recognized through the six months ended June 30, 2020 and June 30, 2019 from amounts included in contract liabilities at the beginning of the period were $64.4 million and $44.4 million, respectively.
v3.20.2
Other operating expenses, net
 6 Months Ended
Jun. 30, 2020
Other Income and Expenses [Abstract]  
Other operating expenses, net
6. Other operating expenses, net
Other operating expenses, net consisted of the following:
 Three months ended
June 30,		Six months ended
June 30,
(in millions)2020201920202019
Acquisition and integration related expenses$14.3  $32.6  $31.8  $109.7  
Stock-based compensation expense2.6  11.3  8.3  17.3  
Restructuring charges6.3  0.5  8.8  0.6  
Other employee severance costs2.8  6.2  8.3  19.1  
Other facility closure costs0.1  —  2.0  —  
Saccharin legal settlement—  —  —  62.5  
Fair value adjustment for warrants18.8  1.8  (7.5) (2.6) 
(Gain) loss on sale of property, plant and equipment(2.2) 1.4  (7.5) 1.5  
Other0.9  10.0  3.5  20.5  
Total other operating expenses, net$43.6  $63.8  $47.7  $228.6  
v3.20.2
Restructuring charges
 6 Months Ended
Jun. 30, 2020
Restructuring and Related Activities [Abstract]  
Restructuring charges
7. Restructuring charges
Restructuring charges relate to the implementation of several regional strategic initiatives aimed at streamlining the Company’s cost structure and improving its operations. These actions primarily resulted in workforce reductions and other facility rationalization costs. Restructuring charges are recorded in other operating expenses, net in the condensed consolidated statement of operations.
2020 Restructuring
During the first quarter of 2020, management approved a plan to implement a new structure designed to streamline and accelerate the opportunities between Canada and USA operations with the reporting structure in Canada condensed and realigned to report under the leadership in the USA for commercial, operations, human resources and finance. This change did not impact the Company's reportable segments. All restructuring actions under this program were complete as of June 30, 2020, except for final cash payments that will be made in the future.
During the second quarter of 2020, the Company initiated workforce reductions spanning across many job functions and locations in the USA and Other in order to align the Company's workforce with its anticipated business needs. The actions associated with this program are expected to be completed by the end of 2020. As a result of both of these plans, we recorded the following charges:
(in millions)Three months ended June 30, 2020Six months ended June 30, 2020Anticipated total costs
USA:
Employee termination costs$4.7  $4.7  $5.9  
Canada:
Employee termination costs$0.8  $3.1  $3.1  
Other:
Employee termination costs$0.8  $0.8  $0.8  
Total $6.3  $8.6  $9.8  
2018 Restructuring
During 2018, management approved a plan to consolidate departments. The actions associated with this program were substantially complete as of March 31, 2020, although cash payments will be made into the future. The following table presents a summary of the financial impacts of that plan:
(in millions)Three months ended March 31, 2020Cumulative costsAnticipated total costs
USA:
Employee termination costs$0.1  $5.6  $5.6  
Other exit costs—  0.1  0.1  
Total$0.1  $5.7  $5.7  
Other:
Employee termination costs$0.1  $1.3  $1.3  
Total:
Employee termination costs$0.2  $6.9  $6.9  
Other exit costs—  0.1  0.1  
Total$0.2  $7.0  $7.0  
The following table summarizes activity related to accrued liabilities associated with restructuring:
(in millions)January 1, 2020Charge to 
earnings		Cash
paid		June 30, 2020
Employee termination costs$3.7  $8.8  $(6.9) $5.6  
Facility exit costs1.9  —  (0.6) 1.3  
Other exit costs0.2  —  —  0.2  
Total$5.8  $8.8  $(7.5) $7.1  

(in millions)January 1, 2019Charge to 
earnings		Cash 
paid		December 31, 2019
Employee termination costs$4.2  $2.5  $(3.0) $3.7  
Facility exit costs5.0  0.1  (3.2) 1.9  
Other exit costs0.2  —  —  0.2  
Total$9.4  $2.6  $(6.2) $5.8  
Restructuring liabilities of $6.6 million and $5.3 million were classified as current in other accrued expenses in the condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019, respectively. The long-term portion of restructuring liabilities of $0.5 million were recorded in other long-term liabilities in the condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019, and primarily consists of facility exit costs that are expected to be paid within the next five years.
The cost information above does not contain any estimates for programs that may be developed and implemented in future periods. While the Company believes the recorded restructuring liabilities are adequate, revisions to current estimates may be recorded in future periods based on new information as it becomes available.
v3.20.2
Other expense, net
 6 Months Ended
Jun. 30, 2020
Other Income and Expenses [Abstract]  
Other expense, net
8. Other expense, net
Other expense, net consisted of the following:
 Three months ended
June 30,		Six months ended
June 30,
(in millions)2020201920202019
Foreign currency transactions$(5.6) $(2.1) $(6.4) $(2.8) 
Foreign currency denominated loans revaluation(0.4) (4.7) (0.2) 0.5  
Undesignated foreign currency derivative instruments (1)
2.1  4.3  0.1  (5.6) 
Undesignated swap contracts (1)
(1.2) (3.0) (6.0) (2.8) 
Non-operating retirement benefits (2)
2.1  0.6  4.3  1.2  
Debt refinancing costs—  —  (0.1) —  
Other(0.9) (0.7) (1.5) (2.2) 
Total other expense, net$(3.9) $(5.6) $(9.8) $(11.7) 
(1)Refer to “Note 16: Derivatives” for more information.
(2)Refer to “Note 9: Employee benefit plans” for more information.
v3.20.2
Employee benefit plans
 6 Months Ended
Jun. 30, 2020
Postemployment Benefits [Abstract]  
Employee benefit plans
9. Employee benefit plans
The following table summarizes the components of net periodic (benefit) cost recognized in the condensed consolidated statements of operations:
Domestic - Defined Benefit Pension PlansForeign - Defined Benefit Pension Plans
 Three months ended
June 30,		Six months ended
June 30,		Three months ended
June 30,		Six months ended
June 30,
(in millions)20202019202020192020201920202019
Service cost (1)
$—  $—  $—  $—  $0.4  $0.6  $0.9  $1.2  
Interest cost (2)
5.8  6.8  11.6  13.6  3.0  3.9  6.1  7.8  
Expected return on plan assets (2)
(7.2) (6.3) (14.3) (12.6) (3.8) (5.1) (7.8) (10.1) 
Prior service cost (2)
—  —  —  —  0.1  0.1  0.1  0.1  
Net periodic (benefit) cost$(1.4) $0.5  $(2.7) $1.0  $(0.3) $(0.5) $(0.7) $(1.0) 
(1)Service cost is included in warehouse, selling and administrative expenses.
(2)These amounts are included in other expense, net.
v3.20.2
Income taxes
 6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income taxes
10. Income taxes
The income tax expense (benefit) and effective income tax rate for the three and six months ended June 30, 2020 and 2019 were as follows:
Three months ended June 30,Six months ended June 30,
(dollars in millions)2020201920202019
Income tax expense (benefit)$11.6  $18.5  $11.3  $(4.8) 
Effective income tax rate86.6 %52.1 %16.4 %8.3 %
Discrete tax benefits of $4.6 million and $13.5 million are included in the $11.6 million and $11.3 million income tax expense for the three and six months ended June 30, 2020, primarily attributable to the impairment of unrealizable assets and benefits from provisions under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which was enacted on March 27, 2020. The Company’s effective income tax rate without discrete items was 32.1%, higher than the US federal statutory rate of 21.0%, primarily due to the impact of the higher tax rates in foreign jurisdictions, non-deductible expenses and US state income taxes.
Discrete tax benefits of $3.8 million and $14.0 million are included in the $18.5 million income tax expense and $4.8 million income tax benefit for the three and six months ended June 30, 2019, substantially attributable to the indirect effects of the Nexeo Plastics sale. The Company’s effective income tax rate without discrete items was 52.3%, higher than the US federal statutory rate of 21.0%, primarily due to the impact of non-deductible Nexeo related acquisition and integration
costs, along with state taxes, foreign rate differential, non-deductible compensation and other expenses, and an increase in the valuation allowance on certain income tax attributes.
v3.20.2
Earnings per share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings per share
11. Earnings per share
The following table presents the basic and diluted earnings per share computations:
 Three months ended June 30,Six months ended June 30,
(in millions, except per share data)2020201920202019
Numerator:
Net income (loss) from continuing operations$1.8  $17.0  $57.7  $(53.0) 
Net (loss) income from discontinued operations—  (0.7) —  5.4  
Net income (loss)$1.8  $16.3  $57.7  $(47.6) 
Denominator:
Weighted average common shares outstanding – basic168.9  169.8  168.8  159.5  
Effect of dilutive securities: stock compensation plans0.7  0.9  0.8  —  
Weighted average common shares outstanding – diluted169.6  170.7  169.6  159.5  
Basic:
Basic income (loss) per common share from continuing operations$0.01  $0.10  $0.34  $(0.33) 
Basic income per common share from discontinued operations—  —  —  0.03  
Basic income (loss) per common share (1)
$0.01  $0.10  $0.34  $(0.30) 
Diluted:
Diluted income (loss) per common share from continuing operations$0.01  $0.10  $0.34  $(0.33) 
Diluted income per common share from discontinued operations—  —  —  0.03  
Diluted income (loss) per common share (1)
$0.01  $0.10  $0.34  $(0.30) 
(1)As a result of changes in the number of shares outstanding during the year and rounding, the sum of the quarter's earnings per share may not equal the earnings per share for any year-to-date period.
The shares that were not included in the computation of diluted earnings per share for those periods because their inclusion would be anti-dilutive were as follows:
 Three months ended June 30,Six months ended June 30,
(in millions, common shares)2020201920202019
Stock options4.7  2.9  4.4  3.0  
Restricted stock0.5  —  0.4  0.8  
Warrants7.6  7.6  7.6  5.1  
v3.20.2
Accumulated other comprehensive loss
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Accumulated other comprehensive loss
12. Accumulated other comprehensive loss
The following tables present the changes in accumulated other comprehensive loss by component, net of tax:
(in millions)Cash flow hedgesDefined
benefit
pension items		Currency
translation
items		Total
Balance as of December 31, 2019$(15.4) $(1.0) $(362.9) $(379.3) 
Other comprehensive loss before reclassifications(22.2) —  (74.4) (96.6) 
Amounts reclassified from accumulated other comprehensive loss0.8  0.1  —  0.9  
Net current period other comprehensive (loss) income$(21.4) $0.1  $(74.4) $(95.7) 
Balance as of June 30, 2020$(36.8) $(0.9) $(437.3) $(475.0) 
Balance as of April 1, 2020$(31.5) $(1.0) $(457.0) $(489.5) 
Other comprehensive (loss) income before reclassifications(11.1) —  19.7  8.6  
Amounts reclassified from accumulated other comprehensive loss5.8  0.1  —  5.9  
Net current period other comprehensive (loss) income$(5.3) $0.1  $19.7  $14.5  
Balance as of June 30, 2020$(36.8) $(0.9) $(437.3) $(475.0) 
Balance as of December 31, 2018$8.9  $(1.1) $(381.0) $(373.2) 
Impact due to adoption of ASU 2018-02 (1)
1.5  —  (4.7) (3.2) 
Other comprehensive (loss) income before reclassifications(18.6) —  19.8  1.2  
Amounts reclassified from accumulated other comprehensive loss(5.6) 0.1  —  (5.5) 
Net current period other comprehensive (loss) income$(22.7) $0.1  $15.1  $(7.5) 
Balance as of June 30, 2019$(13.8) $(1.0) $(365.9) $(380.7) 
Balance as of Balance as of April 1, 2019$2.1  $(1.1) $(377.5) $(376.5) 
Other comprehensive (loss) income before reclassifications(13.1) —  11.6  (1.5) 
Amounts reclassified from accumulated other comprehensive loss(2.8) 0.1  —  (2.7) 
Net current period other comprehensive (loss) income$(15.9) $0.1  $11.6  $(4.2) 
Balance as of June 30, 2019$(13.8) $(1.0) $(365.9) $(380.7) 
(1)Adjusted due to the adoption of ASU 2018-02 “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” on January 1, 2019.
The following is a summary of the amounts reclassified from accumulated other comprehensive loss to net income (loss):
Statement of Operations ClassificationThree months ended June 30,Six months ended
June 30,
(in millions)
2020 (1)
2019 (1)
2020 (1)
2019 (1)
Amortization of defined benefit pension items:
Prior service costOther expense, net$0.1  $0.1  $0.1  $0.1  
Tax expenseIncome tax expense (benefit)—  —  —  —  
Net of tax$0.1  $0.1  $0.1  $0.1  
Cash flow hedges:
Interest rate swap contractsInterest expense$2.2  $(3.7) $3.1  $(7.5) 
Cross-currency swap contracts
Interest expense and other expense, net
6.1  —  (2.0) —  
Tax expenseIncome tax expense (benefit)(2.5) 0.9  (0.3) 1.9  
Net of tax$5.8  $(2.8) $0.8  $(5.6) 
Total reclassifications for the period, net of tax$5.9  $(2.7) $0.9  $(5.5) 
(1)Amounts in parentheses indicate credits to net income (loss) in the condensed consolidated statement of operations.
v3.20.2
Debt
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Debt
13. Debt
Short-term financing
Short-term financing consisted of the following:
(in millions)June 30, 2020December 31, 2019
Amounts drawn under credit facilities$—  $0.5  
Bank overdrafts0.9  0.2  
Total short-term financing$0.9  $0.7  
As of June 30, 2020 and December 31, 2019, the Company had $162.2 million and $158.5 million in outstanding letters of credit, respectively.
Long-term debt
Long-term debt consisted of the following:
(in millions)June 30, 2020December 31, 2019
Senior Term Loan Facilities:
Term B-3 Loan due 2024, variable interest rate of 2.43% and 4.05% at June 30, 2020 and December 31, 2019, respectively
$1,264.1  $1,438.0  
Term B-5 Loan due 2026, variable interest rate of 2.18% and 3.80% at June 30, 2020 and December 31, 2019, respectively
398.0  400.0  
Asset Backed Loan (ABL) Facilities:
North American ABL Facility due 2024, variable interest rate of 1.67% and 5.25% at June 30, 2020 and December 31, 2019, respectively
529.5  200.0  
Canadian ABL Term Loan due 2022, variable interest rate of 2.77% and 4.31% at June 30, 2020 and December 31, 2019, respectively
125.2  130.9  
Euro ABL Facility due 2023, variable interest rate of 1.75% at June 30, 2020
56.2  —  
Senior Unsecured Notes:
Senior Unsecured Notes due 2027, fixed interest rate of 5.13% at June 30, 2020 and December 31, 2019
500.0  500.0  
Finance lease obligations78.5  71.2  
Total long-term debt before discount$2,951.5  $2,740.1  
Less: unamortized debt issuance costs and discount on debt(22.4) (26.3) 
Total long-term debt$2,929.1  $2,713.8  
Less: current maturities(27.0) (25.0) 
Total long-term debt, excluding current maturities$2,902.1  $2,688.8  
The weighted average interest rate on long-term debt was 3.52% and 4.25% as of June 30, 2020 and December 31, 2019, respectively.
On January 7, 2020, using the proceeds from the sale of the Environmental Sciences business, the Company repaid $174.0 million of the Term B-3 Loan due 2024. As a result of the prepayment, the Company recognized a loss on extinguishment of debt of $1.8 million during the three months ended March 31, 2020.
Other Information
June 30, 2020December 31, 2019
(in millions)Carrying amountFair valueCarrying amountFair value
Fair value of debt$2,929.1  $2,898.1  $2,713.8  $2,770.7  
The fair values of debt were based on current market quotes for similar borrowings and credit risk adjusted for liquidity, margins and amortization, as necessary and are classified as level 2 in the fair value hierarchy.
v3.20.2
Supplemental balance sheet information
 6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental balance sheet information
14. Supplemental balance sheet information
Allowance for doubtful accounts
The allowance for doubtful accounts reflects the Company's current estimate of credit losses expected to be incurred over the life of the trade accounts receivables. Collectability of the trade accounts receivable balance is assessed on an ongoing basis and determined based on the delinquency of customer accounts, the financial condition of individual customers, past collections experience and future economic expectations. The change in the allowance for doubtful accounts is as follows:
(in millions)
Balance, January 1, 2020$12.9  
Provision for credit losses9.4  
Write-offs(1.3) 
Recoveries0.3  
Foreign exchange(0.7) 
Balance, June 30, 2020$20.6  
Property, plant and equipment, net
(in millions)June 30, 2020December 31, 2019
Property, plant and equipment, at cost$2,196.5  $2,190.3  
Less: accumulated depreciation(1,095.0) (1,037.9) 
Property, plant and equipment, net$1,101.5  $1,152.4  
Goodwill
The following is a summary of the activity in goodwill by segment.
(in millions)USAEMEACanadaLATAMTotal
Balance, January 1, 2020$1,802.3  $8.4  $441.1  $29.0  $2,280.8  
Purchase price adjustments7.0  —  —  —  7.0  
Other adjustments—  —  —  (0.5) (0.5) 
Foreign exchange—  (0.6) (19.0) (4.5) (24.1) 
Balance, June 30, 2020$1,809.3  $7.8  $422.1  $24.0  $2,263.2  
Intangible assets, net
 June 30, 2020December 31, 2019
(in millions)GrossAccumulated
Amortization		NetGrossAccumulated
Amortization		Net
Customer relationships$947.7  $(678.7) $269.0  $986.4  $(680.8) $305.6  
Other174.0  (167.0) 7.0  182.0  (167.4) 14.6  
Total intangible assets$1,121.7  $(845.7) $276.0  $1,168.4  $(848.2) $320.2  
Other intangible assets consist of intellectual property (mostly trademarks and trade names), producer relationships and contracts, non-compete agreements and exclusive distribution rights.
The estimated annual amortization expense in each of the next five years is as follows:
(in millions) 
2020$60.9  
202151.1  
202243.4  
202339.0  
202431.3  
Other accrued expenses
As of June 30, 2020, other accrued expenses that were greater than five percent of total current liabilities consisted of current tax liabilities of $101.3 million, comprised of income, VAT and local indirect taxes payable. As of December 31, 2019, other accrued expenses that were greater than five percent of total current liabilities consisted of current tax liabilities of $87.1 million and customer prepayments and deposits of $81.5 million.
Impairment charges
There is a more likely than not expectation that certain long-lived asset groups within the USA segment will be sold. The Company determined this to be a triggering event, requiring the assessment of the recoverability of these long-lived asset groups. Testing the asset groups for recoverability involves developing estimates of future cash flows directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of the assets. Significant estimates include forecasted Adjusted EBITDA, working capital, capital expenditures and discount rates. As the inputs for testing recoverability and determining fair value of the asset groups are largely based on management’s judgments and are not generally observable in active markets, the Company considers such inputs to be Level 3 measurements in the fair value hierarchy.
The Company tested the recoverability of its long-lived asset groups and determined the carrying amount of the asset groups exceeded the sum of the expected undiscounted future cash flows. The computation of the impairment charge was based on the difference between carrying value and fair value of the asset groups, as determined by discounted future cash flows. As a
result, the Company recorded a non-cash, pretax impairment charge of $15.5 million, consisting of $12.8 million of intangible assets, net and $2.7 million of property, plant and equipment, net within its condensed consolidated statement of operations during the three months ended June 30, 2020.
Additionally, the Company has announced the closure of certain production facilities in the USA segment during the second quarter of 2020. The closures resulted in a $1.4 million impairment of property, plant and equipment, net within the condensed consolidated statement of operations during the three months ended June 30, 2020.
v3.20.2
Fair value measurements
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Fair value measurements
15. Fair value measurements
The following is a reconciliation of the fair value measurements that use significant unobservable inputs (Level 3):
(in millions)Warrant Liability
Fair value as of December 31, 2019$33.0  
Fair value adjustments(7.5) 
Fair value as of June 30, 2020$25.5  
The assumptions used in the Black-Scholes-Merton valuation model to measure the fair value of the warrants are:
Weighted Average
Unobservable InputsRangeAmountMethod
Warrant lifeN/A2 yearsExpected term
Expected volatility
27.1% to 59.8%
42.62%Industry peer group
Risk-free interest rateN/A0.16%US Treasury rates
Fair value adjustments are recorded within other operating expenses, net in the condensed consolidated statement of operations.
v3.20.2
Derivatives
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives
16. Derivatives
Foreign currency derivatives
The Company uses forward currency contracts to hedge earnings from the effects of foreign exchange relating to certain of the Company’s intercompany and third-party receivables and payables denominated in a foreign currency. These derivative instruments are not formally designated as cash flow hedges by the Company and the terms of these instruments range from one to three months.
Interest rate swaps
The objective of the designated interest rate swap contracts is to offset the variability of cash flows in LIBOR indexed debt interest payments attributable to changes in the benchmark interest rate related to the Term B-3 Loan and a portion of debt outstanding under the North American ABL Facility. On March 17, 2020, the Company executed $250.0 million of interest rate swap contracts effective June 30, 2020 to replace swaps with maturities on June 30, 2020. The interest rate swap contracts have maturities at various dates through June 2024.
Cross currency swap contracts
Cross currency swap contracts are used to effectively convert the Term B-5 Loan’s principal amount of floating rate US dollar denominated debt, including interest payments, to fixed-rate Euro denominated debt maturing in November 2024. As of June 30, 2020, approximately 95% of the cross currency swaps are designated as a cash flow hedge.
The Company uses both undesignated interest rate swap contracts and cross currency swaps to manage interest rate variability and mitigate foreign exchange exposure.
Notional amounts and fair value of derivative instruments
The following table presents the notional amounts of the Company’s outstanding derivative instruments by type:
(in millions)June 30, 2020December 31, 2019
Derivatives designated as hedging instruments:
Interest rate swap contracts$1,050.0  $1,050.0  
Cross currency swap contracts381.0  381.0  
Derivatives not designated as hedging instruments:
Interest rate swap contracts200.0  200.0  
Foreign currency derivatives124.8  141.4  
Cross currency swap contracts19.0  19.0  
The following are the pre-tax effects of derivative instruments on the condensed consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2020 and 2019:
Statement of Operations ClassificationAmount of gain (loss) reclassified from other comprehensive loss into incomeAmount to be reclassified to Statement of Operations within the next 12 months
Three months ended June 30,Six months ended
June 30,
(in millions)2020201920202019
Derivatives in cash flow hedging relationships: 
Interest rate swap contractsInterest expense$(2.2) $3.7  $(3.1) $7.5  $(18.8) 
Cross currency swap contractsInterest expense0.8  —  2.7  —  1.7  
Other expense, net(6.9) —  (0.7) —  —  
Refer to “Note 8: Other expense, net” for the gains and losses related to derivatives not designated as hedging instruments.
The following table presents the Company’s gross assets and liabilities measured on a recurring basis and classified as level 2 within the fair value hierarchy:
Derivative AssetsDerivative Liabilities
(in millions)Balance Sheet ClassificationJune 30, 2020December 31, 2019Balance Sheet ClassificationJune 30, 2020December 31, 2019
Designated Derivatives:
Cross currency swap contractsPrepaid expenses and other current assets$1.7  $7.2  Other long-term liabilities$11.5  $12.1  
Interest rate swap contractsPrepaid expenses and other current assets—  —  Other accrued expenses18.8  6.4  
Interest rate swap contractsOther assets—  —  Other long-term liabilities27.8  14.0  
Total designated derivatives$1.7  $7.2  $58.1  $32.5  
Undesignated Derivatives:
Foreign currency contractsPrepaid expenses and other current assets$0.5  $0.5  Other accrued expenses$0.8  $1.0  
Cross currency swap contractsPrepaid expenses and other current assets0.1  0.4  Other long-term liabilities0.6  0.6  
Interest rate swap contractsPrepaid expenses and other current assets—  —  Other accrued expenses3.5  1.0  
Interest rate swap contractsOther assets—  —  Other long-term liabilities4.9  1.9  
Total undesignated derivatives$0.6  $0.9  $9.8  $4.5  
Total derivativesTotal assets$2.3  $8.1  Total liabilities$67.9  $37.0  
The net amounts by legal entity related to forward currency contracts included in prepaid and other current assets were $0.3 million and $0.2 million as of June 30, 2020 and December 31, 2019, respectively. The net amounts related to forward currency contracts included in other accrued expenses were $0.6 million and $0.7 million as of June 30, 2020 and December 31, 2019, respectively.
The fair value of forward currency contracts is calculated by reference to current forward exchange rates for contracts with similar maturity profiles. The fair value of swaps is determined by estimating the net present value of amounts to be paid under the agreement offset by the net present value of the expected cash inflows based on market rates and associated yield curves. Based on these valuation methodologies, these derivative contracts are classified as Level 2 in the fair value hierarchy.
v3.20.2
Commitments and contingencies
 6 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and contingencies
17. Commitments and contingencies
Litigation
In the ordinary course of business, the Company is subject to pending or threatened claims, lawsuits, regulatory matters and administrative proceedings from time to time. Where appropriate the Company has recorded provisions in the condensed consolidated financial statements for these matters. The liabilities for injuries to persons or property are in some instances covered by liability insurance, subject to various deductibles and self-insured retentions.
The Company is not aware of any claims, lawsuits, regulatory matters or administrative proceedings, pending or threatened, that are likely to have a material effect on its overall financial position, results of operations, or cash flows. However, the Company cannot predict the outcome of any present or future claims or litigation or the potential for future claims or litigation and adverse developments could negatively impact earnings or cash flows in a particular future period.
The Company is subject to liabilities from claims alleging personal injury from exposure to asbestos. The claims result primarily from an indemnification obligation related to Univar Solutions USA Inc.’s (“Univar”) 1986 purchase of McKesson Chemical Company from McKesson Corporation (“McKesson”). Once certain conditions have been met, Univar will have the ability to pursue insurance coverage, if any, that may be available under McKesson's historical insurance coverage to offset the impact of any fees, settlements, or judgments that Univar is obligated to pay because of its obligation to defend and indemnify McKesson. As of June 30, 2020, there were approximately 165 asbestos-related cases for which Univar has the obligation to defend and indemnify; however, this number tends to fluctuate up and down over time. Historically, the vast majority of these asbestos cases have been dismissed without payment or with a nominal payment. While the Company is unable to predict the outcome of these matters, it does not believe, based upon currently available facts, that the ultimate resolution of any of these matters will have a material effect on its overall financial position, results of operations or cash flows.
Environmental
The Company is subject to various federal, state and local environmental laws and regulations that require environmental assessment or remediation efforts (collectively “environmental remediation work”) and from time to time becomes aware of compliance matters regarding possible or alleged violations of these laws or regulations. For example, over the years, the Company has been identified as a “potentially responsible party” (“PRP”) under the Comprehensive Environmental Response, Compensation and Liability Act and/or similar state laws that impose liability for costs relating to environmental remediation work at various sites. As a PRP, the Company may be required to pay a share of the costs of investigation and cleanup of certain sites. The Company is currently engaged in environmental remediation work at approximately 129 locations, some that are now or were previously Company-owned/occupied and some that were never Company-owned/occupied (“non-owned sites”).
The Company’s environmental remediation work at some sites is being conducted pursuant to governmental proceedings or investigations. At other sites, the Company, with appropriate state or federal agency oversight and approval, is conducting the environmental remediation work voluntarily. The Company is currently undergoing remediation efforts or is in the process of active review of the need for potential remediation efforts at approximately 107 current or formerly Company-owned/occupied sites. In addition, the Company may be liable as a PRP for a share of the cleanup of approximately 22 non-owned sites. These non-owned sites are typically (a) locations of independent waste disposal or recycling operations with alleged or confirmed contaminated soil and/or groundwater to which the Company may have shipped waste products or drums for re-conditioning, or (b) contaminated non-owned sites near historical sites owned or operated by the Company or its predecessors from which contamination is alleged to have arisen.
In determining the appropriate level of environmental reserves, the Company considers several factors such as information obtained from investigatory studies; changes in the scope of remediation; the interpretation, application and enforcement of laws and regulations; changes in the costs of remediation programs; the development of alternative cleanup technologies and methods; and the relative level of the Company’s involvement at various sites for which the Company is allegedly associated. The level of annual expenditures for remedial, monitoring and investigatory activities will change in the future as major components of planned remediation activities are completed and the scope, timing and costs of existing
activities are changed. Project lives, and therefore cash flows, range from 2 to 30 years, depending on the specific site and type of remediation project.
Although the Company believes that its reserves are adequate for environmental contingencies, it is possible, due to the uncertainties noted above; that additional reserves could be required in the future that could have a material effect on the overall financial position, results of operations, or cash flows in a particular period. This additional loss or range of losses cannot be recorded at this time, as it is not reasonably estimable.
Changes in total environmental liabilities are as follows:
(in millions)
Environmental liabilities at December 31, 2019
$78.7  
Revised obligation estimates11.7  
Environmental payments(7.4) 
Environmental liabilities at June 30, 2020
$83.0  

(in millions)Balance Sheet ClassificationJune 30, 2020December 31, 2019
Current environmental liabilitiesOther accrued expenses$26.6  $25.0  
Long-term environmental liabilitiesOther long-term liabilities$56.4  $53.7  
Tax Matters
During 2017, the Brazilian Federal Supreme Court (the “Court”) ruled that the inclusion of the state VAT tax collected by a taxpayer in the taxpayer’s federal social contribution calculation base is unconstitutional. In 2019, the Court ruled in the Company's favor allowing the recoverability of amounts previously paid, plus interest. As a result, the Company recorded a benefit of $10.9 million in net sales, of which $9.7 million related to prior years, and $4.6 million in interest income in the consolidated statement of operations during the fourth quarter of 2019. During the second quarter of 2020, the Company reduced its benefit from prior year and recorded a charge of $0.4 million in net sales and $0.3 million in interest income in the condensed consolidated statement of operations.
v3.20.2
Leasing
 6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Leasing
18. Leasing
The Company leases certain warehouses and distribution centers, office space, transportation equipment, and other machinery and equipment.
(in millions)Balance Sheet ClassificationJune 30, 2020December 31, 2019
Assets
Operating lease assetsOther assets$154.7  $157.3  
Finance lease assetsProperty, plant and equipment, net76.5  69.5  
Total lease assets$231.2  $226.8  
Liabilities
Current liabilities:
Current portion of operating lease liabilitiesOther accrued expenses$46.1  $47.4  
Current portion of finance lease liabilitiesCurrent portion of long-term debt23.0  20.9  
Noncurrent liabilities:
Operating lease liabilitiesOther long-term liabilities116.4  114.5  
Finance lease liabilitiesLong-term debt55.5  50.3  
Total lease liabilities$241.0  $233.1  
Lease cost
(in millions)Three months ended June 30, 2020Three months ended June 30, 2019
Statement of Operations ClassificationOperating LeasesFinance LeasesTotalOperating LeasesFinance LeasesTotal
Cost of goods sold (exclusive of depreciation)$4.4  $—  $4.4  $4.0  $—  $4.0  
Outbound freight and handling1.4  —  1.4  1.9  —  1.9  
Warehousing, selling and administrative8.2  —  8.2  6.5  —  6.5  
Depreciation—  5.9  5.9  —  4.8  4.8  
Interest expense—  1.0  1.0  —  0.7  0.7  
Total gross lease component cost$14.0  $6.9  $20.9  $12.4  $5.5  $17.9  
Variable lease costs0.2  0.7  
Short-term lease costs6.4  9.0  
Total gross lease costs$27.5  $27.6  
Sublease income0.6  0.6  
Total net lease cost$26.9  $27.0  
(in millions)Six months ended June 30, 2020Six months ended June 30, 2019
Statement of Operations ClassificationOperating LeasesFinance LeasesTotalOperating LeasesFinance LeasesTotal
Cost of goods sold (exclusive of depreciation)$8.7  $—  $8.7  $7.7  $—  $7.7  
Outbound freight and handling2.7  —  2.7  3.7  —  3.7  
Warehousing, selling and administrative16.3  —  16.3  13.9  —  13.9  
Depreciation—  12.1  12.1  —  9.4  9.4  
Interest expense—  1.7  1.7  —  1.3  1.3  
Total gross lease component cost$27.7  $13.8  $41.5  $25.3  $10.7  $36.0  
Variable lease costs0.4  0.9  
Short-term lease costs13.9  11.6  
Total gross lease costs$55.8  $48.5  
Sublease income1.2  1.6  
Total net lease cost$54.6  $46.9  
Maturity of lease liabilities
(in millions)Operating LeasesFinance LeasesTotal
2020$26.8  $13.3  $40.1  
202143.6  22.8  66.4  
202234.4  19.3  53.7  
202323.9  10.0  33.9  
202415.6  7.0  22.6  
2025 and After38.5  11.5  50.0  
Total lease payments$182.8  $83.9  $266.7  
Less: interest20.3  7.6  
Present value of lease liabilities, excluding guaranteed residual values$162.5  $76.3  
Plus: present value of guaranteed residual values—  2.2  
Present value of lease liabilities$162.5  $78.5  
Lease term and discount rate
June 30, 2020December 31, 2019
Weighted-average remaining lease term (years)
Operating leases5.45.0
Finance leases4.44.0
Weighted-average discount rate
Operating leases4.81 %4.95 %
Finance leases4.07 %4.33 %
Other information
Six months ended June 30,
(in millions)20202019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$27.3  $28.9  
Operating cash flows from finance leases1.6  1.3  
Financing cash flows from finance leases12.1  9.6  
v3.20.2
Segments
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segments
19. Segments
Management monitors the operating results of its reportable segments separately for the purpose of making decisions about resource allocation and performance assessment. Management evaluates performance on the basis of Adjusted EBITDA. Adjusted EBITDA is defined as consolidated net income (loss), plus the sum of: net loss (income) from discontinued operations, interest expense, net of interest income; income tax expense (benefit); depreciation; amortization; impairment charges; loss on extinguishment of debt; other operating expenses, net (see “Note 6: Other operating expenses, net”); and other expense, net (see “Note 8: Other expense, net”). For 2020, Adjusted EBITDA also includes an adjustment to remove a Brazil VAT charge (see “Note 17: Commitments and contingencies” for more information).
Transfer prices between reportable segments are set on an arms-length basis in a similar manner to transactions with third parties. Corporate operating expenses that directly benefit segments have been allocated to the reportable segments. Allocable operating expenses are identified through a review process by management. These costs are allocated to the reportable segments on a basis that reasonably approximates the use of services. This is typically measured on a weighted distribution of margin, asset, headcount or time spent.
Financial information for the Company’s reportable segments is as follows:
(in millions)USAEMEACanadaLATAM
Other/
Eliminations (1)
Consolidated
Three months ended June 30, 2020
External customers$1,169.4  $409.6  $331.5  $98.7  $—  $2,009.2  
Inter-segment23.0  0.9  0.7  —  (24.6) —  
Total net sales$1,192.4  $410.5  $332.2  $98.7  $(24.6) $2,009.2  
Adjusted EBITDA$95.2  $39.7  $25.2  $11.0  $(7.9) $163.2  
Long-lived assets (2)
$824.8  $176.4  $185.8  $28.9  $40.3  $1,256.2  

(in millions)USAEMEACanadaLATAM
Other/
Eliminations (1)
Consolidated
Three months ended June 30, 2019
External customers$1,605.3  $457.9  $404.8  $116.6  $—  $2,584.6  
Inter-segment23.4  1.0  1.7  —  (26.1) —  
Total net sales$1,628.7  $458.9  $406.5  $116.6  $(26.1) $2,584.6  
Adjusted EBITDA$127.6  $38.2  $33.8  $9.4  $(7.9) $201.1  
Long-lived assets (2)
$892.8  $185.4  $188.5  $34.9  $29.3  $1,330.9  

(in millions)USAEMEACanadaLATAM
Other/
Eliminations (1)
Consolidated
Six months ended June 30, 2020
External customers$2,526.9  $869.9  $617.3  $206.3  $—  $4,220.4  
Inter-segment48.7  1.7  1.5  —  (51.9) —  
Total net sales$2,575.6  $871.6  $618.8  $206.3  $(51.9) $4,220.4  
Adjusted EBITDA$191.8  $80.0  $52.5  $19.3  $(18.8) $324.8  
Long-lived assets (2)
$824.8  $176.4  $185.8  $28.9  $40.3  $1,256.2  
(in millions)USAEMEACanadaLATAM
Other/
Eliminations (1)
Consolidated
Six months ended June 30, 2019
External customers$2,912.5  $941.6  $678.6  $211.9  $—  $4,744.6  
Inter-segment48.3  2.0  2.8  —  (53.1) —  
Total net sales$2,960.8  $943.6  $681.4  $211.9  $(53.1) $4,744.6  
Adjusted EBITDA$224.7  $80.3  $55.5  $15.1  $(14.4) $361.2  
Long-lived assets (2)
$892.8  $185.4  $188.5  $34.9  $29.3  $1,330.9  
(1)Other/Eliminations represents the elimination of intersegment transactions as well as unallocated corporate costs consisting of costs specifically related to parent company operations that do not directly benefit segments, either individually or collectively.
(2)Long-lived assets consist of property, plant and equipment, net and operating lease assets.
The following is a reconciliation of net income (loss) to Adjusted EBITDA for the three and six months ended June 30, 2020 and 2019:
 Three months ended June 30,Six months ended June 30,
(in millions)2020201920202019
Net income (loss)$1.8  $16.3  $57.7  $(47.6) 
Net loss (income) from discontinued operations—  0.7  —  (5.4) 
Depreciation40.4  39.7  82.1  72.9  
Amortization14.8  18.6  30.6  33.0  
Interest expense, net29.9  37.9  58.0  72.1  
Income tax expense (benefit)11.6  18.5  11.3  (4.8) 
Other operating expenses, net43.6  63.8  47.7  228.6  
Other expense, net3.9  5.6  9.8  11.7  
Impairment charges16.9  —  16.9  —  
Loss on sale of business—  —  8.6  —  
Loss on extinguishment of debt—  —  1.8  0.7  
Brazil VAT charge0.3  —  0.3  —  
Adjusted EBITDA$163.2  $201.1  $324.8  $361.2  
v3.20.2
Subsequent events
 6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Subsequent events
20. Subsequent events
On August 3, 2020, the Company entered into an agreement to sell a subsidiary that owns assets within the USA segment related to industrial services. The Company expects to recognize a pre-tax loss upon the sale of approximately $15.1 million within the condensed consolidated statements of operations upon closing. The completion of the sale is subject to customary closing conditions and is expected to close in the third quarter of 2020.
v3.20.2
Significant accounting policies (Policies)
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Basis of presentation
Basis of presentation
The condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) as applicable to interim financial reporting. These condensed consolidated financial statements, in the Company’s opinion, include all adjustments consisting of normal recurring accruals necessary for a fair presentation of the condensed consolidated balance sheets, statements of operations, comprehensive income, cash flows and changes in stockholders’ equity. The results of operations for the periods presented are not necessarily indicative of the operating results that may be expected for the full year. The accompanying condensed consolidated financial statements of Univar Solutions includes the combined results of all directly and indirectly controlled companies, which have been adjusted to account for the elimination of intercompany balances and transactions.
On our condensed consolidated statements of cash flows for the six months ended June 30, 2019, the amounts included in “net proceeds under revolving credit facilities,” which were previously included in “proceeds from issuance of long-term debt,” are now presented separately to conform to the current year presentation.
The preparation of condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and accompanying notes. Actual results could differ materially from these estimates. These condensed consolidated financial statements and related footnotes are unaudited and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Recently issued and adopted accounting pronouncements and Accounting pronouncements issued but not yet adopted
Recently adopted accounting pronouncements
On January 1, 2020, the Company adopted ASU 2016-13 “Financial Instruments - Credit Losses” (Topic 326), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. The transition to the new methodology did not have a significant financial impact and the Company did not recognize a cumulative-effect adjustment to the opening balance of accumulated deficit.
On January 1, 2020, the Company adopted ASU 2018-13 “Fair Value Measurement” (Topic 820), which modifies the disclosure requirements for fair value measurements by removing, modifying and adding certain disclosures.
On January 1, 2020, the Company adopted ASU 2018-15 “Intangibles - Goodwill and Other - Internal-Use Software” (Subtopic 350-40), which aligns the requirements for capitalizing implementation costs incurred in a service contract hosting arrangement with those for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted this guidance on a prospective basis.
Accounting pronouncements issued and not yet adopted
In August 2018, the FASB issued ASU 2018-14 “Compensation - Retirement Benefits - Defined Benefit Plans - General” (Subtopic 715-20), which amends the disclosure requirements related to defined benefit pension and other postretirement plans. The Company will adopt this guidance effective January 1, 2021 and is currently determining the impacts that will be reflected in financial statement disclosures.
In December 2019, the FASB issued ASU 2019-12 “Income Taxes” (Topic 740) – “Simplifying the Accounting for Income Taxes.” The Company will adopt this guidance effective January 1, 2021 and is currently determining the impacts of the guidance on our consolidated financial statements.
In March 2020, the FASB issued ASU 2020-04 “Reference Rate Reform” (Topic 848) – “Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which provides optional expedients and exceptions for applying US GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform from currently referenced rates, such as LIBOR, to alternative rates. The ASU is effective beginning March 12, 2020 and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently determining the impacts of the guidance on our consolidated financial statements.
v3.20.2
Business combinations (Tables)
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Preliminary Purchase Price Acquisition
The final purchase price allocation is shown below:
(in millions)As of December 31, 2019Measurement Period AdjustmentsFinal
March 31, 2020
Trade accounts receivable, net$296.3  $—  $296.3  
Inventories150.2  —  150.2  
Prepaid expenses and other current assets65.4  (1.2) 64.2  
Assets held for sale888.2  —  888.2  
Property, plant and equipment, net262.3  —  262.3  
Goodwill555.7  7.0  562.7  
Intangible assets, net138.7  —  138.7  
Other assets37.4  (0.4) 37.0  
Trade accounts payable(137.7) —  (137.7) 
Other accrued expenses(145.8) 1.3  (144.5) 
Liabilities held for sale(221.5) —  (221.5) 
Deferred tax liabilities(4.2) (6.7) (10.9) 
Other long-term liabilities(70.2) —  (70.2) 
Purchase consideration, net of cash$1,814.8  $—  $1,814.8  
v3.20.2
Discontinued operations and dispositions (Tables)
 6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Operating results of discontinued operations
The following table summarizes the operating results of Nexeo Plastics for the three and six months ended June 30, 2019, as presented in “Net (loss) income from discontinued operations” on the condensed consolidated statements of operations.
(in millions)Three months ended June 30, 2019Six months ended June 30, 2019
External sales$—  $156.9  
Cost of goods sold (exclusive of depreciation)—  136.7  
Outbound freight and handling—  3.5  
Warehousing, selling and administrative—  7.9  
Other expenses—  1.4  
Income from discontinued operations before income taxes$—  $7.4  
Income tax expense from discontinued operations (1)
0.7  2.0  
Net (loss) income from discontinued operations$(0.7) $5.4  
(1)The provision for income taxes for the three months ended June 30, 2019 includes an adjustment to the tax expense related to the one month operations reported as of March 31, 2019.
Income before income taxes attributable to disposed of Environmental Sciences business (Details)
The following summarizes the income before income taxes attributable to the Environmental Sciences business:
(in millions)Three months ended June 30, 2019Six months ended June 30, 2019
Income before income taxes$12.5  $14.7  
v3.20.2
Revenue (Tables)
 6 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables disaggregate external customer net sales by major stream:
USAEMEACanadaLATAMConsolidated
(in millions)Three months ended June 30, 2020
Chemical Distribution$1,097.1  $409.3  $172.0  $96.8  $1,775.2  
Crop Sciences—  —  147.4  —  147.4  
Services72.3  0.3  12.1  1.9  86.6  
Total external customer net sales$1,169.4  $409.6  $331.5  $98.7  $2,009.2  
USAEMEACanadaLATAMConsolidated
(in millions)Three months ended June 30, 2019
Chemical Distribution$1,515.6  $457.5  $225.1  $114.6  $2,312.8  
Crop Sciences—  —  167.1  —  167.1  
Services89.7  0.4  12.6  2.0  104.7  
Total external customer net sales$1,605.3  $457.9  $404.8  $116.6  $2,584.6  

USAEMEACanadaLATAMConsolidated
(in millions)Six months ended June 30, 2020
Chemical Distribution$2,367.6  $869.2  $380.3  $202.1  $3,819.2  
Crop Sciences—  —  211.8  —  211.8  
Services159.3  0.7  25.2  4.2  189.4  
Total external customer net sales$2,526.9  $869.9  $617.3  $206.3  $4,220.4  
USAEMEACanadaLATAMConsolidated
(in millions)Six months ended June 30, 2019
Chemical Distribution$2,763.1  $940.9  $436.8  $207.2  $4,348.0  
Crop Sciences—  —  217.6  —  217.6  
Services149.4  0.7  24.2  4.7  179.0  
Total external customer net sales$2,912.5  $941.6  $678.6  $211.9  $4,744.6  
v3.20.2
Other operating expenses, net (Tables)
 6 Months Ended
Jun. 30, 2020
Other Income and Expenses [Abstract]  
Schedule of Other Operating Expenses
Other operating expenses, net consisted of the following:
 Three months ended
June 30,		Six months ended
June 30,
(in millions)2020201920202019
Acquisition and integration related expenses$14.3  $32.6  $31.8  $109.7  
Stock-based compensation expense2.6  11.3  8.3  17.3  
Restructuring charges6.3  0.5  8.8  0.6  
Other employee severance costs2.8  6.2  8.3  19.1  
Other facility closure costs0.1  —  2.0  —  
Saccharin legal settlement—  —  —  62.5  
Fair value adjustment for warrants18.8  1.8  (7.5) (2.6) 
(Gain) loss on sale of property, plant and equipment(2.2) 1.4  (7.5) 1.5  
Other0.9  10.0  3.5  20.5  
Total other operating expenses, net$43.6  $63.8  $47.7  $228.6  
v3.20.2
Restructuring charges (Tables)
 6 Months Ended
Jun. 30, 2020
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs As a result of both of these plans, we recorded the following charges:
(in millions)Three months ended June 30, 2020Six months ended June 30, 2020Anticipated total costs
USA:
Employee termination costs$4.7  $4.7  $5.9  
Canada:
Employee termination costs$0.8  $3.1  $3.1  
Other:
Employee termination costs$0.8  $0.8  $0.8  
Total $6.3  $8.6  $9.8  
The following table presents a summary of the financial impacts of that plan:
(in millions)Three months ended March 31, 2020Cumulative costsAnticipated total costs
USA:
Employee termination costs$0.1  $5.6  $5.6  
Other exit costs—  0.1  0.1  
Total$0.1  $5.7  $5.7  
Other:
Employee termination costs$0.1  $1.3  $1.3  
Total:
Employee termination costs$0.2  $6.9  $6.9  
Other exit costs—  0.1  0.1  
Total$0.2  $7.0  $7.0  
Schedule of Restructuring Reserve
The following table summarizes activity related to accrued liabilities associated with restructuring:
(in millions)January 1, 2020Charge to 
earnings		Cash
paid		June 30, 2020
Employee termination costs$3.7  $8.8  $(6.9) $5.6  
Facility exit costs1.9  —  (0.6) 1.3  
Other exit costs0.2  —  —  0.2  
Total$5.8  $8.8  $(7.5) $7.1  

(in millions)January 1, 2019Charge to 
earnings		Cash 
paid		December 31, 2019
Employee termination costs$4.2  $2.5  $(3.0) $3.7  
Facility exit costs5.0  0.1  (3.2) 1.9  
Other exit costs0.2  —  —  0.2  
Total$9.4  $2.6  $(6.2) $5.8  
v3.20.2
Other expense, net (Tables)
 6 Months Ended
Jun. 30, 2020
Other Income and Expenses [Abstract]  
Schedule of other expense, net
Other expense, net consisted of the following:
 Three months ended
June 30,		Six months ended
June 30,
(in millions)2020201920202019
Foreign currency transactions$(5.6) $(2.1) $(6.4) $(2.8) 
Foreign currency denominated loans revaluation(0.4) (4.7) (0.2) 0.5  
Undesignated foreign currency derivative instruments (1)
2.1  4.3  0.1  (5.6) 
Undesignated swap contracts (1)
(1.2) (3.0) (6.0) (2.8) 
Non-operating retirement benefits (2)
2.1  0.6  4.3  1.2  
Debt refinancing costs—  —  (0.1) —  
Other(0.9) (0.7) (1.5) (2.2) 
Total other expense, net$(3.9) $(5.6) $(9.8) $(11.7) 
(1)Refer to “Note 16: Derivatives” for more information.
(2)Refer to “Note 9: Employee benefit plans” for more information.
v3.20.2
Employee benefit plans (Tables)
 6 Months Ended
Jun. 30, 2020
Postemployment Benefits [Abstract]  
Components of Net Periodic Benefit Cost (Credit)
The following table summarizes the components of net periodic (benefit) cost recognized in the condensed consolidated statements of operations:
Domestic - Defined Benefit Pension PlansForeign - Defined Benefit Pension Plans
 Three months ended
June 30,		Six months ended
June 30,		Three months ended
June 30,		Six months ended
June 30,
(in millions)20202019202020192020201920202019
Service cost (1)
$—  $—  $—  $—  $0.4  $0.6  $0.9  $1.2  
Interest cost (2)
5.8  6.8  11.6  13.6  3.0  3.9  6.1  7.8  
Expected return on plan assets (2)
(7.2) (6.3) (14.3) (12.6) (3.8) (5.1) (7.8) (10.1) 
Prior service cost (2)
—  —  —  —  0.1  0.1  0.1  0.1  
Net periodic (benefit) cost$(1.4) $0.5  $(2.7) $1.0  $(0.3) $(0.5) $(0.7) $(1.0) 
(1)Service cost is included in warehouse, selling and administrative expenses.
(2)These amounts are included in other expense, net.
v3.20.2
Earnings per share (Tables)
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Summary of Computations of Basic and Diluted Earnings Per Share
The following table presents the basic and diluted earnings per share computations:
 Three months ended June 30,Six months ended June 30,
(in millions, except per share data)2020201920202019
Numerator:
Net income (loss) from continuing operations$1.8  $17.0  $57.7  $(53.0) 
Net (loss) income from discontinued operations—  (0.7) —  5.4  
Net income (loss)$1.8  $16.3  $57.7  $(47.6) 
Denominator:
Weighted average common shares outstanding – basic168.9  169.8  168.8  159.5  
Effect of dilutive securities: stock compensation plans0.7  0.9  0.8  —  
Weighted average common shares outstanding – diluted169.6  170.7  169.6  159.5  
Basic:
Basic income (loss) per common share from continuing operations$0.01  $0.10  $0.34  $(0.33) 
Basic income per common share from discontinued operations—  —  —  0.03  
Basic income (loss) per common share (1)
$0.01  $0.10  $0.34  $(0.30) 
Diluted:
Diluted income (loss) per common share from continuing operations$0.01  $0.10  $0.34  $(0.33) 
Diluted income per common share from discontinued operations—  —  —  0.03  
Diluted income (loss) per common share (1)
$0.01  $0.10  $0.34  $(0.30) 
(1)As a result of changes in the number of shares outstanding during the year and rounding, the sum of the quarter's earnings per share may not equal the earnings per share for any year-to-date period.
The shares that were not included in the computation of diluted earnings per share for those periods because their inclusion would be anti-dilutive were as follows:
 Three months ended June 30,Six months ended June 30,
(in millions, common shares)2020201920202019
Stock options4.7  2.9  4.4  3.0  
Restricted stock0.5  —  0.4  0.8  
Warrants7.6  7.6  7.6  5.1  
v3.20.2
Accumulated other comprehensive loss (Tables)
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Loss by Component Net of Tax
The following tables present the changes in accumulated other comprehensive loss by component, net of tax:
(in millions)Cash flow hedgesDefined
benefit
pension items		Currency
translation
items		Total
Balance as of December 31, 2019$(15.4) $(1.0) $(362.9) $(379.3) 
Other comprehensive loss before reclassifications(22.2) —  (74.4) (96.6) 
Amounts reclassified from accumulated other comprehensive loss0.8  0.1  —  0.9  
Net current period other comprehensive (loss) income$(21.4) $0.1  $(74.4) $(95.7) 
Balance as of June 30, 2020$(36.8) $(0.9) $(437.3) $(475.0) 
Balance as of April 1, 2020$(31.5) $(1.0) $(457.0) $(489.5) 
Other comprehensive (loss) income before reclassifications(11.1) —  19.7  8.6  
Amounts reclassified from accumulated other comprehensive loss5.8  0.1  —  5.9  
Net current period other comprehensive (loss) income$(5.3) $0.1  $19.7  $14.5  
Balance as of June 30, 2020$(36.8) $(0.9) $(437.3) $(475.0) 
Balance as of December 31, 2018$8.9  $(1.1) $(381.0) $(373.2) 
Impact due to adoption of ASU 2018-02 (1)
1.5  —  (4.7) (3.2) 
Other comprehensive (loss) income before reclassifications(18.6) —  19.8  1.2  
Amounts reclassified from accumulated other comprehensive loss(5.6) 0.1  —  (5.5) 
Net current period other comprehensive (loss) income$(22.7) $0.1  $15.1  $(7.5) 
Balance as of June 30, 2019$(13.8) $(1.0) $(365.9) $(380.7) 
Balance as of Balance as of April 1, 2019$2.1  $(1.1) $(377.5) $(376.5) 
Other comprehensive (loss) income before reclassifications(13.1) —  11.6  (1.5) 
Amounts reclassified from accumulated other comprehensive loss(2.8) 0.1  —  (2.7) 
Net current period other comprehensive (loss) income$(15.9) $0.1  $11.6  $(4.2) 
Balance as of June 30, 2019$(13.8) $(1.0) $(365.9) $(380.7) 
(1)Adjusted due to the adoption of ASU 2018-02 “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” on January 1, 2019.
Summary of Amounts Reclassified From Accumulated Other Comprehensive Loss
The following is a summary of the amounts reclassified from accumulated other comprehensive loss to net income (loss):
Statement of Operations ClassificationThree months ended June 30,Six months ended
June 30,
(in millions)
2020 (1)
2019 (1)
2020 (1)
2019 (1)
Amortization of defined benefit pension items:
Prior service costOther expense, net$0.1  $0.1  $0.1  $0.1  
Tax expenseIncome tax expense (benefit)—  —  —  —  
Net of tax$0.1  $0.1  $0.1  $0.1  
Cash flow hedges:
Interest rate swap contractsInterest expense$2.2  $(3.7) $3.1  $(7.5) 
Cross-currency swap contracts
Interest expense and other expense, net
6.1  —  (2.0) —  
Tax expenseIncome tax expense (benefit)(2.5) 0.9  (0.3) 1.9  
Net of tax$5.8  $(2.8) $0.8  $(5.6) 
Total reclassifications for the period, net of tax$5.9  $(2.7) $0.9  $(5.5) 
(1)Amounts in parentheses indicate credits to net income (loss) in the condensed consolidated statement of operations.
v3.20.2
Debt (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Summary of Short Term Financing
Short-term financing consisted of the following:
(in millions)June 30, 2020December 31, 2019
Amounts drawn under credit facilities$—  $0.5  
Bank overdrafts0.9  0.2  
Total short-term financing$0.9  $0.7  
Schedule of Long Term Debt
Long-term debt consisted of the following:
(in millions)June 30, 2020December 31, 2019
Senior Term Loan Facilities:
Term B-3 Loan due 2024, variable interest rate of 2.43% and 4.05% at June 30, 2020 and December 31, 2019, respectively
$1,264.1  $1,438.0  
Term B-5 Loan due 2026, variable interest rate of 2.18% and 3.80% at June 30, 2020 and December 31, 2019, respectively
398.0  400.0  
Asset Backed Loan (ABL) Facilities:
North American ABL Facility due 2024, variable interest rate of 1.67% and 5.25% at June 30, 2020 and December 31, 2019, respectively
529.5  200.0  
Canadian ABL Term Loan due 2022, variable interest rate of 2.77% and 4.31% at June 30, 2020 and December 31, 2019, respectively
125.2  130.9  
Euro ABL Facility due 2023, variable interest rate of 1.75% at June 30, 2020
56.2  —  
Senior Unsecured Notes:
Senior Unsecured Notes due 2027, fixed interest rate of 5.13% at June 30, 2020 and December 31, 2019
500.0  500.0  
Finance lease obligations78.5  71.2  
Total long-term debt before discount$2,951.5  $2,740.1  
Less: unamortized debt issuance costs and discount on debt(22.4) (26.3) 
Total long-term debt$2,929.1  $2,713.8  
Less: current maturities(27.0) (25.0) 
Total long-term debt, excluding current maturities$2,902.1  $2,688.8  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
Other Information
June 30, 2020December 31, 2019
(in millions)Carrying amountFair valueCarrying amountFair value
Fair value of debt$2,929.1  $2,898.1  $2,713.8  $2,770.7  
v3.20.2
Supplemental balance sheet information (Tables)
 6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of allowance for doubtful accounts The change in the allowance for doubtful accounts is as follows:
(in millions)
Balance, January 1, 2020$12.9  
Provision for credit losses9.4  
Write-offs(1.3) 
Recoveries0.3  
Foreign exchange(0.7) 
Balance, June 30, 2020$20.6  
Summary of Property, Plant and Equipment, Net
(in millions)June 30, 2020December 31, 2019
Property, plant and equipment, at cost$2,196.5  $2,190.3  
Less: accumulated depreciation(1,095.0) (1,037.9) 
Property, plant and equipment, net$1,101.5  $1,152.4  
Goodwill
Schedule of Goodwill
The following is a summary of the activity in goodwill by segment.
(in millions)USAEMEACanadaLATAMTotal
Balance, January 1, 2020$1,802.3  $8.4  $441.1  $29.0  $2,280.8  
Purchase price adjustments7.0  —  —  —  7.0  
Other adjustments—  —  —  (0.5) (0.5) 
Foreign exchange—  (0.6) (19.0) (4.5) (24.1) 
Balance, June 30, 2020$1,809.3  $7.8  $422.1  $24.0  $2,263.2  
Schedule of Gross Carrying Amounts and Accumulated Amortization of Intangible Assets
 June 30, 2020December 31, 2019
(in millions)GrossAccumulated
Amortization		NetGrossAccumulated
Amortization		Net
Customer relationships$947.7  $(678.7) $269.0  $986.4  $(680.8) $305.6  
Other174.0  (167.0) 7.0  182.0  (167.4) 14.6  
Total intangible assets$1,121.7  $(845.7) $276.0  $1,168.4  $(848.2) $320.2  
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The estimated annual amortization expense in each of the next five years is as follows:
(in millions) 
2020$60.9  
202151.1  
202243.4  
202339.0  
202431.3  
v3.20.2
Fair value measurements (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Reconciliation of Fair Value Measurements that Use Significant Unobservable Inputs (Level 3)
The following is a reconciliation of the fair value measurements that use significant unobservable inputs (Level 3):
(in millions)Warrant Liability
Fair value as of December 31, 2019$33.0  
Fair value adjustments(7.5) 
Fair value as of June 30, 2020$25.5  
Fair Value Measurement Inputs and Valuation Techniques
The assumptions used in the Black-Scholes-Merton valuation model to measure the fair value of the warrants are:
Weighted Average
Unobservable InputsRangeAmountMethod
Warrant lifeN/A2 yearsExpected term
Expected volatility
27.1% to 59.8%
42.62%Industry peer group
Risk-free interest rateN/A0.16%US Treasury rates
v3.20.2
Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table presents the notional amounts of the Company’s outstanding derivative instruments by type:
(in millions)June 30, 2020December 31, 2019
Derivatives designated as hedging instruments:
Interest rate swap contracts$1,050.0  $1,050.0  
Cross currency swap contracts381.0  381.0  
Derivatives not designated as hedging instruments:
Interest rate swap contracts200.0  200.0  
Foreign currency derivatives124.8  141.4  
Cross currency swap contracts19.0  19.0  
Derivative Instruments, Gain (Loss)
The following are the pre-tax effects of derivative instruments on the condensed consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2020 and 2019:
Statement of Operations ClassificationAmount of gain (loss) reclassified from other comprehensive loss into incomeAmount to be reclassified to Statement of Operations within the next 12 months
Three months ended June 30,Six months ended
June 30,
(in millions)2020201920202019
Derivatives in cash flow hedging relationships: 
Interest rate swap contractsInterest expense$(2.2) $3.7  $(3.1) $7.5  $(18.8) 
Cross currency swap contractsInterest expense0.8  —  2.7  —  1.7  
Other expense, net(6.9) —  (0.7) —  —  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the Company’s gross assets and liabilities measured on a recurring basis and classified as level 2 within the fair value hierarchy:
Derivative AssetsDerivative Liabilities
(in millions)Balance Sheet ClassificationJune 30, 2020December 31, 2019Balance Sheet ClassificationJune 30, 2020December 31, 2019
Designated Derivatives:
Cross currency swap contractsPrepaid expenses and other current assets$1.7  $7.2  Other long-term liabilities$11.5  $12.1  
Interest rate swap contractsPrepaid expenses and other current assets—  —  Other accrued expenses18.8  6.4  
Interest rate swap contractsOther assets—  —  Other long-term liabilities27.8  14.0  
Total designated derivatives$1.7  $7.2  $58.1  $32.5  
Undesignated Derivatives:
Foreign currency contractsPrepaid expenses and other current assets$0.5  $0.5  Other accrued expenses$0.8  $1.0  
Cross currency swap contractsPrepaid expenses and other current assets0.1  0.4  Other long-term liabilities0.6  0.6  
Interest rate swap contractsPrepaid expenses and other current assets—  —  Other accrued expenses3.5  1.0  
Interest rate swap contractsOther assets—  —  Other long-term liabilities4.9  1.9  
Total undesignated derivatives$0.6  $0.9  $9.8  $4.5  
Total derivativesTotal assets$2.3  $8.1  Total liabilities$67.9  $37.0  
v3.20.2
Commitments and contingencies (Tables)
 6 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Changes in Total Environmental Liabilities
Changes in total environmental liabilities are as follows:
(in millions)
Environmental liabilities at December 31, 2019
$78.7  
Revised obligation estimates11.7  
Environmental payments(7.4) 
Environmental liabilities at June 30, 2020
$83.0  
Schedule of Environmental Liabilities
(in millions)Balance Sheet ClassificationJune 30, 2020December 31, 2019
Current environmental liabilitiesOther accrued expenses$26.6  $25.0  
Long-term environmental liabilitiesOther long-term liabilities$56.4  $53.7  
v3.20.2
Leasing (Tables)
 6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Leases
(in millions)Balance Sheet ClassificationJune 30, 2020December 31, 2019
Assets
Operating lease assetsOther assets$154.7  $157.3  
Finance lease assetsProperty, plant and equipment, net76.5  69.5  
Total lease assets$231.2  $226.8  
Liabilities
Current liabilities:
Current portion of operating lease liabilitiesOther accrued expenses$46.1  $47.4  
Current portion of finance lease liabilitiesCurrent portion of long-term debt23.0  20.9  
Noncurrent liabilities:
Operating lease liabilitiesOther long-term liabilities116.4  114.5  
Finance lease liabilitiesLong-term debt55.5  50.3  
Total lease liabilities$241.0  $233.1  
Lease term and discount rate
Lease cost
(in millions)Three months ended June 30, 2020Three months ended June 30, 2019
Statement of Operations ClassificationOperating LeasesFinance LeasesTotalOperating LeasesFinance LeasesTotal
Cost of goods sold (exclusive of depreciation)$4.4  $—  $4.4  $4.0  $—  $4.0  
Outbound freight and handling1.4  —  1.4  1.9  —  1.9  
Warehousing, selling and administrative8.2  —  8.2  6.5  —  6.5  
Depreciation—  5.9  5.9  —  4.8  4.8  
Interest expense—  1.0  1.0  —  0.7  0.7  
Total gross lease component cost$14.0  $6.9  $20.9  $12.4  $5.5  $17.9  
Variable lease costs0.2  0.7  
Short-term lease costs6.4  9.0  
Total gross lease costs$27.5  $27.6  
Sublease income0.6  0.6  
Total net lease cost$26.9  $27.0  
Lease term and discount rate
June 30, 2020December 31, 2019
Weighted-average remaining lease term (years)
Operating leases5.45.0
Finance leases4.44.0
Weighted-average discount rate
Operating leases4.81 %4.95 %
Finance leases4.07 %4.33 %
Other information
Six months ended June 30,
(in millions)20202019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$27.3  $28.9  
Operating cash flows from finance leases1.6  1.3  
Financing cash flows from finance leases12.1  9.6  
Finance lease maturity schedule
Maturity of lease liabilities
(in millions)Operating LeasesFinance LeasesTotal
2020$26.8  $13.3  $40.1  
202143.6  22.8  66.4  
202234.4  19.3  53.7  
202323.9  10.0  33.9  
202415.6  7.0  22.6  
2025 and After38.5  11.5  50.0  
Total lease payments$182.8  $83.9  $266.7  
Less: interest20.3  7.6  
Present value of lease liabilities, excluding guaranteed residual values$162.5  $76.3  
Plus: present value of guaranteed residual values—  2.2  
Present value of lease liabilities$162.5  $78.5  
v3.20.2
Segments (Tables)
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Financial Information for the Company's Segments
Financial information for the Company’s reportable segments is as follows:
(in millions)USAEMEACanadaLATAM
Other/
Eliminations (1)
Consolidated
Three months ended June 30, 2020
External customers$1,169.4  $409.6  $331.5  $98.7  $—  $2,009.2  
Inter-segment23.0  0.9  0.7  —  (24.6) —  
Total net sales$1,192.4  $410.5  $332.2  $98.7  $(24.6) $2,009.2  
Adjusted EBITDA$95.2  $39.7  $25.2  $11.0  $(7.9) $163.2  
Long-lived assets (2)
$824.8  $176.4  $185.8  $28.9  $40.3  $1,256.2  

(in millions)USAEMEACanadaLATAM
Other/
Eliminations (1)
Consolidated
Three months ended June 30, 2019
External customers$1,605.3  $457.9  $404.8  $116.6  $—  $2,584.6  
Inter-segment23.4  1.0  1.7  —  (26.1) —  
Total net sales$1,628.7  $458.9  $406.5  $116.6  $(26.1) $2,584.6  
Adjusted EBITDA$127.6  $38.2  $33.8  $9.4  $(7.9) $201.1  
Long-lived assets (2)
$892.8  $185.4  $188.5  $34.9  $29.3  $1,330.9  

(in millions)USAEMEACanadaLATAM
Other/
Eliminations (1)
Consolidated
Six months ended June 30, 2020
External customers$2,526.9  $869.9  $617.3  $206.3  $—  $4,220.4  
Inter-segment48.7  1.7  1.5  —  (51.9) —  
Total net sales$2,575.6  $871.6  $618.8  $206.3  $(51.9) $4,220.4  
Adjusted EBITDA$191.8  $80.0  $52.5  $19.3  $(18.8) $324.8  
Long-lived assets (2)
$824.8  $176.4  $185.8  $28.9  $40.3  $1,256.2  
(in millions)USAEMEACanadaLATAM
Other/
Eliminations (1)
Consolidated
Six months ended June 30, 2019
External customers$2,912.5  $941.6  $678.6  $211.9  $—  $4,744.6  
Inter-segment48.3  2.0  2.8  —  (53.1) —  
Total net sales$2,960.8  $943.6  $681.4  $211.9  $(53.1) $4,744.6  
Adjusted EBITDA$224.7  $80.3  $55.5  $15.1  $(14.4) $361.2  
Long-lived assets (2)
$892.8  $185.4  $188.5  $34.9  $29.3  $1,330.9  
(1)Other/Eliminations represents the elimination of intersegment transactions as well as unallocated corporate costs consisting of costs specifically related to parent company operations that do not directly benefit segments, either individually or collectively.
(2)Long-lived assets consist of property, plant and equipment, net and operating lease assets.
Reconciliation of Net Income (loss) to Adjusted EBITDA
The following is a reconciliation of net income (loss) to Adjusted EBITDA for the three and six months ended June 30, 2020 and 2019:
 Three months ended June 30,Six months ended June 30,
(in millions)2020201920202019
Net income (loss)$1.8  $16.3  $57.7  $(47.6) 
Net loss (income) from discontinued operations—  0.7  —  (5.4) 
Depreciation40.4  39.7  82.1  72.9  
Amortization14.8  18.6  30.6  33.0  
Interest expense, net29.9  37.9  58.0  72.1  
Income tax expense (benefit)11.6  18.5  11.3  (4.8) 
Other operating expenses, net43.6  63.8  47.7  228.6  
Other expense, net3.9  5.6  9.8  11.7  
Impairment charges16.9  —  16.9  —  
Loss on sale of business—  —  8.6  —  
Loss on extinguishment of debt—  —  1.8  0.7  
Brazil VAT charge0.3  —  0.3  —  
Adjusted EBITDA$163.2  $201.1  $324.8  $361.2  
v3.20.2
Nature of operations - Additional Information (Detail)
 6 Months Ended
Jun. 30, 2020
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of operating segments 4
v3.20.2
Business combinations (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2020
Feb. 28, 2019
Mar. 31, 2020
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Mar. 29, 2019
Feb. 27, 2019
Business Acquisition [Line Items]                
Cash payment for acquisition       $ 0.0 $ 1,155.5      
Purchase price adjustments       7.0        
Goodwill acquired       2,263.2   $ 2,280.8    
USA                
Business Acquisition [Line Items]                
Purchase price adjustments       7.0        
Goodwill acquired       1,809.3   1,802.3    
Canada                
Business Acquisition [Line Items]                
Purchase price adjustments       0.0        
Goodwill acquired       422.1   441.1    
LATAM                
Business Acquisition [Line Items]                
Purchase price adjustments       0.0        
Goodwill acquired       $ 24.0   29.0    
Nexeo Solutions, Inc.                
Business Acquisition [Line Items]                
Percentage of equity interest acquired   100.00%            
Purchase price of acquisition   $ 1,814.8            
Cash payment for acquisition   1,201.0            
Cash acquired from acquisition   46.8            
Value of common stock   $ 613.8            
Common stock issued (in shares)   26.4            
Closing price on date of issue (in usd per share)               $ 23.29
Number of Univar shares canceled (in shares)   1.5            
Purchase price adjustments $ 7.0   $ 7.0          
Goodwill acquired $ 562.7   $ 562.7     $ 555.7    
Expected tax deductible amount of goodwill             $ 76.0  
Warrants assumed (in shares)   50.0            
Assumption of warrants acquired (in shares)   25.0            
Aggregate fair value of unexercised warrants   $ 26.0            
Conversion of warrants to rights to receive merger consideration (in shares)             7.6  
Exercise price of warrants (in usd per share)             $ 27.80  
Nexeo Solutions, Inc. | USA                
Business Acquisition [Line Items]                
Goodwill acquired             $ 547.1  
Nexeo Solutions, Inc. | Canada                
Business Acquisition [Line Items]                
Goodwill acquired             3.8  
Nexeo Solutions, Inc. | LATAM                
Business Acquisition [Line Items]                
Goodwill acquired             11.8  
Nexeo Plastics                
Business Acquisition [Line Items]                
Proceeds from sale of plastics distribution business             $ 664.3  
v3.20.2
Business combinations - Preliminary purchase price allocation (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2020
Mar. 31, 2020
Jun. 30, 2020
Dec. 31, 2019
Business Acquisition [Line Items]        
Goodwill     $ 2,263.2 $ 2,280.8
Purchase consideration, net of cash       1,814.8
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments [Abstract]        
Purchase price adjustments     $ 7.0  
Nexeo Solutions, Inc.        
Business Acquisition [Line Items]        
Trade accounts receivable, net $ 296.3 $ 296.3   296.3
Inventories 150.2 150.2   150.2
Prepaid expenses and other current assets 64.2 64.2   65.4
Assets held for sale 888.2 888.2   888.2
Property, plant and equipment, net 262.3 262.3   262.3
Goodwill 562.7 562.7   555.7
Intangible assets, net 138.7 138.7   138.7
Other assets 37.0 37.0   37.4
Trade accounts payable (137.7) (137.7)   (137.7)
Other accrued expenses (144.5) (144.5)   (145.8)
Liabilities held for sale (221.5) (221.5)   (221.5)
Deferred tax liabilities (10.9) (10.9)   (4.2)
Other long-term liabilities (70.2) (70.2)   $ (70.2)
Purchase consideration, net of cash 1,814.8 1,814.8    
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments [Abstract]        
Prepaid expenses and other current assets   (1.2)    
Purchase price adjustments $ 7.0 7.0    
Other assets   (0.4)    
Other accrued expenses   1.3    
Deferred tax liabilities   $ (6.7)    
v3.20.2
Discontinued operations and dispositions (Details)
$ in Millions
 6 Months Ended
Dec. 31, 2019
USD ($)
Mar. 29, 2019
USD ($)
renewal
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Mar. 31, 2020
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Transition services agreement, number of renewals | renewal   2      
Proceeds from sale of Environmental Sciences business     $ (8.2) $ 640.0  
Nexeo Plastics          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Proceeds from sale of plastics distribution business   $ 664.3      
Net of cash disposed   2.4      
Total excess working capital   $ 26.7      
Transition services agreement, term of renewals   12 months      
Environmental Sciences Business          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Gain on sale of business $ 41.4        
Environmental Sciences Business | Discontinued Operations, Disposed of by Sale          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Total excess working capital         $ 8.2
Proceeds from sale of Environmental Sciences business 174.0        
Cash disposed in sale of Environmental Sciences business 0.7        
Transaction expenses from sale of Environmental Sciences business 5.9        
Non-cash proceeds from sale 5.0        
Present values of notes receivables $ 2.4        
Minimum | Nexeo Plastics          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Transition services agreement, contract term   6 months      
Maximum | Nexeo Plastics          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Transition services agreement, contract term   24 months      
Real property agreement, contract term   3 years      
v3.20.2
Discontinued operations and dispositions - Operating results of discontinues operations (Details) - Nexeo Plastics - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
External sales $ 0.0 $ 156.9
Cost of goods sold (exclusive of depreciation) 0.0 136.7
Outbound freight and handling 0.0 3.5
Warehousing, selling and administrative 0.0 7.9
Other expenses 0.0 1.4
Income from discontinued operations before income taxes 0.0 7.4
Income tax expense from discontinued operations 0.7 2.0
Net (loss) income from discontinued operations $ (0.7) $ 5.4
v3.20.2
Discontinued operations and dispositions - (Loss) income before income taxes attributable to the Environmental Sciences business (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2019
Environmental Sciences Business    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Income before income taxes $ 12.5 $ 14.7
v3.20.2
Revenue - Schedule of External Net Sales Disaggregated by Major Stream Type (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Disaggregation of Revenue [Line Items]        
Net sales $ 2,009.2 $ 2,584.6 $ 4,220.4 $ 4,744.6
USA        
Disaggregation of Revenue [Line Items]        
Net sales 1,169.4 1,605.3 2,526.9 2,912.5
EMEA        
Disaggregation of Revenue [Line Items]        
Net sales 409.6 457.9 869.9 941.6
Canada        
Disaggregation of Revenue [Line Items]        
Net sales 331.5 404.8 617.3 678.6
LATAM        
Disaggregation of Revenue [Line Items]        
Net sales 98.7 116.6 206.3 211.9
Chemical Distribution        
Disaggregation of Revenue [Line Items]        
Net sales 1,775.2 2,312.8 3,819.2 4,348.0
Chemical Distribution | USA        
Disaggregation of Revenue [Line Items]        
Net sales 1,097.1 1,515.6 2,367.6 2,763.1
Chemical Distribution | EMEA        
Disaggregation of Revenue [Line Items]        
Net sales 409.3 457.5 869.2 940.9
Chemical Distribution | Canada        
Disaggregation of Revenue [Line Items]        
Net sales 172.0 225.1 380.3 436.8
Chemical Distribution | LATAM        
Disaggregation of Revenue [Line Items]        
Net sales 96.8 114.6 202.1 207.2
Crop Sciences        
Disaggregation of Revenue [Line Items]        
Net sales 147.4 167.1 211.8 217.6
Crop Sciences | USA        
Disaggregation of Revenue [Line Items]        
Net sales 0.0 0.0 0.0 0.0
Crop Sciences | EMEA        
Disaggregation of Revenue [Line Items]        
Net sales 0.0 0.0 0.0 0.0
Crop Sciences | Canada        
Disaggregation of Revenue [Line Items]        
Net sales 147.4 167.1 211.8 217.6
Crop Sciences | LATAM        
Disaggregation of Revenue [Line Items]        
Net sales 0.0 0.0 0.0 0.0
Services        
Disaggregation of Revenue [Line Items]        
Net sales 86.6 104.7 189.4 179.0
Services | USA        
Disaggregation of Revenue [Line Items]        
Net sales 72.3 89.7 159.3 149.4
Services | EMEA        
Disaggregation of Revenue [Line Items]        
Net sales 0.3 0.4 0.7 0.7
Services | Canada        
Disaggregation of Revenue [Line Items]        
Net sales 12.1 12.6 25.2 24.2
Services | LATAM        
Disaggregation of Revenue [Line Items]        
Net sales $ 1.9 $ 2.0 $ 4.2 $ 4.7
v3.20.2
Revenue - Schedule of Deferred Revenue (Detail) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]      
Deferred revenue $ 7.9   $ 65.5
Contract with Customer, Liability, Revenue Recognized $ 64.4 $ 44.4  
v3.20.2
Other operating expenses, net (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Other Income and Expenses [Abstract]        
Acquisition and integration related expenses $ 14.3 $ 32.6 $ 31.8 $ 109.7
Stock-based compensation expense 2.6 11.3 8.3 17.3
Restructuring charges 6.3 0.5 8.8 0.6
Other employee severance costs 2.8 6.2 8.3 19.1
Other facility closure costs 0.1 0.0 2.0 0.0
Saccharin legal settlement 0.0 0.0 0.0 62.5
Fair value adjustment for warrants 18.8 1.8 (7.5) (2.6)
(Gain) loss on sale of property, plant and equipment (2.2) 1.4 (7.5) 1.5
Other 0.9 10.0 3.5 20.5
Total other operating expenses, net $ 43.6 $ 63.8 $ 47.7 $ 228.6
v3.20.2
Restructuring charges - Restructuring and related activities (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]          
Restructuring charges $ 6.3 $ 0.5 $ 8.8 $ 0.6  
2020 Plan          
Restructuring Cost and Reserve [Line Items]          
Anticipated total costs 9.8   9.8    
2020 Plan | Other:          
Restructuring Cost and Reserve [Line Items]          
Anticipated total costs 0.8   0.8    
2018 Plan          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.2        
Cumulative costs         $ 7.0
Anticipated total costs 7.0   7.0    
2018 Plan | USA          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.1        
Cumulative costs         5.7
Anticipated total costs 5.7   5.7    
Employee termination costs | 2020 Plan          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 6.3   8.6    
Employee termination costs | 2020 Plan | USA          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 4.7   4.7    
Anticipated total costs 5.9   5.9    
Employee termination costs | 2020 Plan | Canada          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.8   3.1    
Anticipated total costs 3.1   3.1    
Employee termination costs | 2020 Plan | Other:          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.8   0.8    
Employee termination costs | 2018 Plan          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.2        
Cumulative costs         6.9
Anticipated total costs 6.9   6.9    
Employee termination costs | 2018 Plan | USA          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.1        
Cumulative costs         5.6
Anticipated total costs 5.6   5.6    
Employee termination costs | 2018 Plan | Other:          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.1        
Cumulative costs         $ 1.3
Anticipated total costs $ 1.3   $ 1.3    
v3.20.2
Restructuring charges - Costs Incurred and Anticipated (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]          
Restructuring charges $ 6.3 $ 0.5 $ 8.8 $ 0.6  
2018 Plan          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.2        
Cumulative costs         $ 7.0
Anticipated total costs 7.0   7.0    
2018 Plan | USA          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.1        
Cumulative costs         5.7
Anticipated total costs 5.7   5.7    
2018 Plan | Employee termination costs          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.2        
Cumulative costs         6.9
Anticipated total costs 6.9   6.9    
2018 Plan | Employee termination costs | USA          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.1        
Cumulative costs         5.6
Anticipated total costs 5.6   5.6    
2018 Plan | Employee termination costs | Other:          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.1        
Cumulative costs         1.3
Anticipated total costs 1.3   1.3    
2018 Plan | Other exit costs          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.0        
Cumulative costs         0.1
Anticipated total costs 0.1   0.1    
2018 Plan | Other exit costs | USA          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.0        
Cumulative costs         $ 0.1
Anticipated total costs $ 0.1   $ 0.1    
v3.20.2
Restructuring charges - Summary of Activity Related to Accrued Liabilities Associated with Redundancy and Restructuring (Detail) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Restructuring Reserve [Roll Forward]    
Beginning balance $ 5.8 $ 9.4
Charge to  earnings 8.8 2.6
Cash paid (7.5) (6.2)
Ending balance 7.1 5.8
Employee termination costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 3.7 4.2
Charge to  earnings 8.8 2.5
Cash paid (6.9) (3.0)
Ending balance 5.6 3.7
Facility exit costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 1.9 5.0
Charge to  earnings 0.0 0.1
Cash paid (0.6) (3.2)
Ending balance 1.3 1.9
Other exit costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 0.2 0.2
Charge to  earnings 0.0 0.0
Cash paid 0.0 0.0
Ending balance $ 0.2 $ 0.2
v3.20.2
Restructuring charges - Additional Information (Detail) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Restructuring and Related Activities [Abstract]    
Restructuring liabilities, current $ 6.6 $ 5.3
Restructuring liabilities, non-current $ 0.5 $ 0.5
Facility exit costs payment period 5 years  
v3.20.2
Other expense, net (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Other Income and Expenses [Abstract]        
Foreign currency transactions $ (5.6) $ (2.1) $ (6.4) $ (2.8)
Foreign currency denominated loans revaluation (0.4) (4.7) (0.2) 0.5
Undesignated foreign currency derivative instruments 2.1 4.3 0.1 (5.6)
Undesignated swap contracts (1.2) (3.0) (6.0) (2.8)
Non-operating retirement benefits 2.1 0.6 4.3 1.2
Debt refinancing costs 0.0 0.0 (0.1) 0.0
Other (0.9) (0.7) (1.5) (2.2)
Total other expense, net $ (3.9) $ (5.6) $ (9.8) $ (11.7)
v3.20.2
Employee benefit plans (Detail) - Defined Benefit Pension Plans - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
USA        
Defined Benefit Plan Disclosure [Line Items]        
Service cost $ 0.0 $ 0.0 $ 0.0 $ 0.0
Interest cost 5.8 6.8 11.6 13.6
Expected return on plan assets (7.2) (6.3) (14.3) (12.6)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) 0.0 0.0 0.0 0.0
Net periodic (benefit) cost (1.4) 0.5 (2.7) 1.0
Foreign Plan        
Defined Benefit Plan Disclosure [Line Items]        
Service cost 0.4 0.6 0.9 1.2
Interest cost 3.0 3.9 6.1 7.8
Expected return on plan assets (3.8) (5.1) (7.8) (10.1)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) 0.1 0.1 0.1 0.1
Net periodic (benefit) cost $ (0.3) $ (0.5) $ (0.7) $ (1.0)
v3.20.2
Income taxes (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Tax Disclosure [Abstract]        
Income tax expense (benefit) $ 11.6 $ 18.5 $ 11.3 $ (4.8)
Effective tax rate 86.60% 52.10% 16.40% 8.30%
One time discreet tax benefit $ 4.6 $ 3.8 $ 13.5 $ 14.0
Estimated effective tax rate 32.10% 52.30% 32.10% 52.30%
v3.20.2
Earnings Per Share - Summary of Computations of Basic and Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Numerator:        
Net income (loss) from continuing operations $ 1.8 $ 17.0 $ 57.7 $ (53.0)
Net (loss) income from discontinued operations 0.0 (0.7) 0.0 5.4
Net income (loss) $ 1.8 $ 16.3 $ 57.7 $ (47.6)
Denominator:        
Weighted average common shares outstanding - basic (in shares) 168.9 169.8 168.8 159.5
Effect of dilutive securities: stock compensation plans (in shares) 0.7 0.9 0.8 0.0
Weighted average common shares outstanding - diluted (in shares) 169.6 170.7 169.6 159.5
Basic:        
Basic income (loss) per common share from continuing operations (in dollars per share) $ 0.01 $ 0.10 $ 0.34 $ (0.33)
Basic income per common share from discontinued operations (in dollars per share) 0 0 0 0.03
Basic income (loss) per common share (in dollars per share) 0.01 0.10 0.34 (0.30)
Diluted:        
Diluted income (loss) per common share from continuing operations (in dollars per share) 0.01 0.10 0.34 (0.33)
Diluted income per common share from discontinued operations (in dollars per share) 0 0 0 0.03
Diluted income (loss) per common share (in dollars per share) $ 0.01 $ 0.10 $ 0.34 $ (0.30)
v3.20.2
Earnings Per Share - Summary of Computations of Basic and Diluted Earnings Per Share Footnote (Detail) - shares
shares in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Employee Stock Option | Common stock        
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]        
Share-based compensation awards purchased not included in calculation of diluted earnings per share (in shares) 4.7 2.9 4.4 3.0
Employee Stock Option | Restricted Stock        
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]        
Share-based compensation awards purchased not included in calculation of diluted earnings per share (in shares) 0.5 0.0 0.4 0.8
Warrants        
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]        
Share-based compensation awards purchased not included in calculation of diluted earnings per share (in shares) 7.6 7.6 7.6 5.1
v3.20.2
Accumulated other comprehensive loss - Schedule of Changes in Accumulated Other Comprehensive Loss by Component Net of Tax (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Jan. 01, 2019
Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance $ 1,683.6 $ 1,781.0 $ 1,732.8 $ 1,191.7    
Other comprehensive loss before reclassifications 8.6 (1.5) (96.6) 1.2    
Amounts reclassified from accumulated other comprehensive loss 5.9 (2.7) 0.9 (5.5)    
Net current period other comprehensive (loss) income 14.5 (4.2) (95.7) (7.5)    
Ending balance 1,703.2 1,774.5 1,703.2 $ 1,774.5    
Accounting Standards Update [Extensible List]       us-gaap:AccountingStandardsUpdate201802Member    
Accumulated other comprehensive loss            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance (489.5) (376.5) (379.3) $ (373.2)    
Impact due to adoption of ASU 2018-02 [1]           $ (3.2)
Ending balance (475.0) (380.7) (475.0) (380.7)    
Accumulated other comprehensive loss | Cumulative Effect, Period of Adoption, Adjustment            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Impact due to adoption of ASU 2018-02         $ (3.2)  
Cash flow hedges            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance (31.5) 2.1 (15.4) 8.9    
Other comprehensive loss before reclassifications (11.1) (13.1) (22.2) (18.6)    
Amounts reclassified from accumulated other comprehensive loss 5.8 (2.8) 0.8 (5.6)    
Net current period other comprehensive (loss) income (5.3) (15.9) (21.4) (22.7)    
Ending balance (36.8) (13.8) (36.8) (13.8)    
Cash flow hedges | Cumulative Effect, Period of Adoption, Adjustment            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Impact due to adoption of ASU 2018-02         1.5  
Defined benefit pension items            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance (1.0) (1.1) (1.0) (1.1)    
Other comprehensive loss before reclassifications 0.0 0.0 0.0 0.0    
Amounts reclassified from accumulated other comprehensive loss 0.1 0.1 0.1 0.1    
Net current period other comprehensive (loss) income 0.1 0.1 0.1 0.1    
Ending balance (0.9) (1.0) (0.9) (1.0)    
Defined benefit pension items | Cumulative Effect, Period of Adoption, Adjustment            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Impact due to adoption of ASU 2018-02         0.0  
Currency translation items            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance (457.0) (377.5) (362.9) (381.0)    
Other comprehensive loss before reclassifications 19.7 11.6 (74.4) 19.8    
Amounts reclassified from accumulated other comprehensive loss 0.0 0.0 0.0 0.0    
Net current period other comprehensive (loss) income 19.7 11.6 (74.4) 15.1    
Ending balance $ (437.3) $ (365.9) $ (437.3) $ (365.9)    
Currency translation items | Cumulative Effect, Period of Adoption, Adjustment            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Impact due to adoption of ASU 2018-02         $ (4.7)  
[1] Adjusted due to the adoption of ASU 2018-02 “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” on January 1, 2019.
v3.20.2
Accumulated other comprehensive loss - Summary of amounts reclassified from accumulated other comprehensive loss (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Income tax expense (benefit) $ (11.6) $ (18.5) $ (11.3) $ 4.8
Interest expense 30.1 39.0 59.2 73.8
Net income (loss) 1.8 16.3 57.7 (47.6)
Prior service cost | Reclassification out of Accumulated Other Comprehensive Income        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Other expense, net 0.1 0.1 0.1 0.1
Amortization of defined benefit pension items: | Reclassification out of Accumulated Other Comprehensive Income        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Income tax expense (benefit) 0.0 0.0 0.0 0.0
Net of tax 0.1 0.1 0.1 0.1
Cash flow hedges: | Reclassification out of Accumulated Other Comprehensive Income        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Income tax expense (benefit) (2.5) 0.9 (0.3) 1.9
Net of tax 5.8 (2.8) 0.8 (5.6)
Net income (loss) 5.9 (2.7) 0.9 (5.5)
Cash flow hedges: | Reclassification out of Accumulated Other Comprehensive Income | Interest rate swap contracts        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Interest expense 2.2 (3.7) 3.1 (7.5)
Cash flow hedges: | Reclassification out of Accumulated Other Comprehensive Income | Cross-currency swap contracts        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Interest expense $ 6.1 $ 0.0 $ (2.0) $ 0.0
v3.20.2
Debt - Summary of Short Term Financing (Detail) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Debt Disclosure [Abstract]    
Amounts drawn under credit facilities $ 0.0 $ 0.5
Bank overdrafts 0.9 0.2
Total short-term financing $ 0.9 $ 0.7
v3.20.2
Debt - Additional Information (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jan. 07, 2020
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Debt Instrument [Line Items]              
Letters of credit outstanding   $ 162.2     $ 162.2   $ 158.5
Weighted average interest rate on long-term debt   3.52%     3.52%   4.25%
Loss on extinguishment of debt   $ 0.0   $ 0.0 $ 1.8 $ 0.7  
Term B-3 Loan Due 2024              
Debt Instrument [Line Items]              
Repayments of long-term debt $ 174.0            
Loss on extinguishment of debt     $ (1.8)        
v3.20.2
Debt - Schedule of Long Term Debt (Detail) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Debt Instrument [Line Items]    
Finance lease obligations $ 78.5 $ 71.2
Total long-term debt before discount 2,951.5 2,740.1
Less: unamortized debt issuance costs and discount on debt (22.4) (26.3)
Total long-term debt 2,929.1 2,713.8
Less: current maturities (27.0) (25.0)
Total long-term debt, excluding current maturities 2,902.1 2,688.8
Term B-3 Loan Due 2024    
Debt Instrument [Line Items]    
Aggregate principal amount $ 1,264.1 $ 1,438.0
Variable interest rate 2.43% 4.05%
Term B-5 Loan Due 2026    
Debt Instrument [Line Items]    
Aggregate principal amount $ 398.0 $ 400.0
Variable interest rate 2.18% 3.80%
North American ABL Due 2024    
Debt Instrument [Line Items]    
Aggregate principal amount $ 529.5 $ 200.0
Variable interest rate 1.67% 5.25%
Canadian ABL Facility Due 2022    
Debt Instrument [Line Items]    
Aggregate principal amount $ 125.2 $ 130.9
Variable interest rate 2.77% 4.31%
European ABL Facility Due 2023 Variable interest Rate of 1.75%    
Debt Instrument [Line Items]    
Aggregate principal amount $ 56.2 $ 0.0
Variable interest rate 1.75%  
Unsecured Notes Due 2027    
Debt Instrument [Line Items]    
Aggregate principal amount $ 500.0 $ 500.0
Fixed interest rate 5.13% 5.13%
v3.20.2
Debt - Fair value of debt (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Carrying amount $ 2,929.1 $ 2,713.8
Fair Value, Inputs, Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Carrying amount 2,929.1 2,713.8
Fair value $ 2,898.1 $ 2,770.7
v3.20.2
Supplemental balance sheet information - Allowance for Credit Losses (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2020
USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]  
Begging balance $ 12.9
Provision for credit losses 9.4
Write-offs (1.3)
Recoveries 0.3
Foreign exchange (0.7)
Ending balance $ 20.6
v3.20.2
Supplemental balance sheet information - Summary of Property, Plant and Equipment, Net (Detail) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Property, plant and equipment, at cost $ 2,196.5 $ 2,190.3
Less: accumulated depreciation (1,095.0) (1,037.9)
Property, plant and equipment, net $ 1,101.5 $ 1,152.4
v3.20.2
Supplemental balance sheet information - Schedule of Goodwill (Detail)
$ in Millions
 6 Months Ended
Jun. 30, 2020
USD ($)
Goodwill [Roll Forward]  
Goodwill, Beginning Balance $ 2,280.8
Purchase price adjustments 7.0
Other adjustments (0.5)
Foreign exchange (24.1)
Goodwill, Ending Balance 2,263.2
USA  
Goodwill [Roll Forward]  
Goodwill, Beginning Balance 1,802.3
Purchase price adjustments 7.0
Other adjustments 0.0
Foreign exchange 0.0
Goodwill, Ending Balance 1,809.3
EMEA  
Goodwill [Roll Forward]  
Goodwill, Beginning Balance 8.4
Purchase price adjustments 0.0
Other adjustments 0.0
Foreign exchange (0.6)
Goodwill, Ending Balance 7.8
Canada  
Goodwill [Roll Forward]  
Goodwill, Beginning Balance 441.1
Purchase price adjustments 0.0
Other adjustments 0.0
Foreign exchange (19.0)
Goodwill, Ending Balance 422.1
LATAM  
Goodwill [Roll Forward]  
Goodwill, Beginning Balance 29.0
Purchase price adjustments 0.0
Other adjustments (0.5)
Foreign exchange (4.5)
Goodwill, Ending Balance $ 24.0
v3.20.2
Supplemental balance sheet information - Schedule of Gross Carrying Amounts and Accumulated Amortization of Intangible Assets (Detail) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]    
Gross $ 1,121.7 $ 1,168.4
Accumulated Amortization (845.7) (848.2)
Net 276.0 320.2
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross 947.7 986.4
Accumulated Amortization (678.7) (680.8)
Net 269.0 305.6
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross 174.0 182.0
Accumulated Amortization (167.0) (167.4)
Net $ 7.0 $ 14.6
v3.20.2
Supplemental balance sheet information - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Detail)
$ in Millions
Jun. 30, 2020
USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
2020 $ 60.9
2021 51.1
2022 43.4
2023 39.0
2024 $ 31.3
v3.20.2
Supplemental balance sheet information - Other Accrued Expenses (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Current tax liabilities $ 101.3 $ 87.1
Customer prepayments and deposits   $ 81.5
v3.20.2
Supplemental balance sheet information Impairment Charges (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2020
Jun. 30, 2019
Impaired Long-Lived Assets Held and Used [Line Items]      
Asset Impairment Charges $ 15.5 $ 16.9 $ 0.0
Property, Plant and Equipment      
Impaired Long-Lived Assets Held and Used [Line Items]      
Asset Impairment Charges 2.7    
Property, Plant and Equipment | USA      
Impaired Long-Lived Assets Held and Used [Line Items]      
Asset Impairment Charges 1.4    
Intangible Assets      
Impaired Long-Lived Assets Held and Used [Line Items]      
Asset Impairment Charges $ 12.8    
v3.20.2
Fair value measurements - Reconciliation of Fair Value Measurements that Use Significant Unobservable Inputs (Level 3) (Detail) - Warrant Liability
$ in Millions
 6 Months Ended
Jun. 30, 2020
USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Fair value beginning balance $ 33.0
Fair value adjustments (7.5)
Fair value ending balance $ 25.5
v3.20.2
Fair value measurements - Additional Information (Detail) - Warrants
 6 Months Ended
Jun. 30, 2020
Warrant life  
Foreign Currency Fair Value Hedge Derivative [Line Items]  
Expected option life 2 years
Expected volatility  
Foreign Currency Fair Value Hedge Derivative [Line Items]  
Measurment input 0.4262
Risk-free interest rate  
Foreign Currency Fair Value Hedge Derivative [Line Items]  
Measurment input 0.0016
Minimum | Expected volatility  
Foreign Currency Fair Value Hedge Derivative [Line Items]  
Measurment input 0.271
Maximum | Expected volatility  
Foreign Currency Fair Value Hedge Derivative [Line Items]  
Measurment input 0.598
v3.20.2
Derivatives (Detail) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Mar. 17, 2020
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Percentage of swaps designated as cash flow hedges 95.00%   95.00%      
Prepaid expenses and other current assets            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Forward currency contract asset fair value $ 300,000   $ 300,000     $ 200,000
Other accrued expenses            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Forward currency contract liability fair value 600,000   600,000     700,000
Other expense, net            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Amount of gain (loss) reclassified from other comprehensive loss into income (6,900,000) $ 0 (700,000) $ 0    
Interest Rate Swap Contracts            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Derivative, notional amount         $ 250,000,000.0  
Interest Rate Swap Contracts | Interest expense            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Amount of gain (loss) reclassified from other comprehensive loss into income (2,200,000) 3,700,000 (3,100,000) 7,500,000    
Amount to be reclassified to Statement of Operations within the next 12 months     (18,800,000)      
Interest Rate Swap Contracts | Designated as Hedging Instrument            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Derivative, notional amount 1,050,000,000.0   1,050,000,000.0     1,050,000,000.0
Interest Rate Swap Contracts | Not Designated as Hedging Instrument            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Derivative, notional amount 200,000,000.0   $ 200,000,000.0     200,000,000.0
Cross-currency swap contracts | Minimum            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Debt instrument, term     1 month      
Cross-currency swap contracts | Maximum            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Debt instrument, term     3 months      
Cross-currency swap contracts | Not Designated as Hedging Instrument            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Derivative, notional amount 124,800,000   $ 124,800,000     141,400,000
Cross Currency Interest Rate Contract | Interest expense            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Amount of gain (loss) reclassified from other comprehensive loss into income 800,000 $ 0 2,700,000 $ 0    
Amount to be reclassified to Statement of Operations within the next 12 months     1,700,000      
Cross Currency Interest Rate Contract | Designated as Hedging Instrument            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Derivative, notional amount 381,000,000.0   381,000,000.0     381,000,000.0
Cross Currency Interest Rate Contract | Not Designated as Hedging Instrument            
Derivative Instruments and Hedging Activities Disclosures [Line Items]            
Derivative, notional amount $ 19,000,000.0   $ 19,000,000.0     $ 19,000,000.0
v3.20.2
Derivatives - Assets and Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets $ 2.3 $ 8.1
Derivative Liabilities 67.9 37.0
Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets 1.7 7.2
Derivative Liabilities 58.1 32.5
Not Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets 0.6 0.9
Derivative Liabilities 9.8 4.5
Prepaid expenses and other current assets | Foreign Exchange Contract | Not Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets 0.5 0.5
Prepaid expenses and other current assets | Cross-currency swap contracts | Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets 1.7 7.2
Prepaid expenses and other current assets | Cross-currency swap contracts | Not Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets 0.1 0.4
Prepaid expenses and other current assets | Interest rate swap contracts | Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets 0.0 0.0
Prepaid expenses and other current assets | Interest rate swap contracts | Not Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets 0.0 0.0
Other long-term liabilities | Cross-currency swap contracts | Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Liabilities 11.5 12.1
Other long-term liabilities | Cross-currency swap contracts | Not Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Liabilities 0.6 0.6
Other long-term liabilities | Interest rate swap contracts | Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Liabilities 27.8 14.0
Other long-term liabilities | Interest rate swap contracts | Not Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Liabilities 4.9 1.9
Other accrued expenses | Foreign Exchange Contract | Not Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Liabilities 0.8 1.0
Other accrued expenses | Interest rate swap contracts | Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Liabilities 18.8 6.4
Other accrued expenses | Interest rate swap contracts | Not Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Liabilities 3.5 1.0
Other assets | Interest rate swap contracts | Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets 0.0 0.0
Other assets | Interest rate swap contracts | Not Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative Assets $ 0.0 $ 0.0
v3.20.2
Commitments and contingencies - Additional Information (Detail)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
USD ($)
claim
Dec. 31, 2019
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2020
USD ($)
claim
site
location
Jun. 30, 2019
USD ($)
Other Commitments [Line Items]          
Number of locations impacted by environmental laws and regulations | location       129  
Number of company owned/occupied sites requiring environmental remediation work | site       107  
Number of non owned sites liable for a share of clean-up | site       22  
Income tax expense (benefit) $ (11.6)   $ (18.5) $ (11.3) $ 4.8
Foreign Tax Authority | Secretariat of the Federal Revenue Bureau of Brazil          
Other Commitments [Line Items]          
Proceeds from income tax refunds   $ 10.9      
Proceeds from prior year income tax refund   9.7      
Foreign Tax Authority | Secretariat of the Federal Revenue Bureau of Brazil | Interest expense          
Other Commitments [Line Items]          
Proceeds from prior year income tax refund 0.3 $ 4.6      
Income tax expense (benefit) $ 0.4        
Maximum          
Other Commitments [Line Items]          
Number of asbestos-related claims (fewer than) | claim 165     165  
Environmental project, term       30 years  
Minimum          
Other Commitments [Line Items]          
Environmental project, term       2 years  
v3.20.2
Commitments and contingencies - Changes in Total Environmental Liabilities (Detail)
$ in Millions
 6 Months Ended
Jun. 30, 2020
USD ($)
Accrual for Environmental Loss Contingencies [Roll Forward]  
Environmental liabilities at beginning of period $ 78.7
Revised obligation estimates 11.7
Environmental payments (7.4)
Environmental liabilities at end of period $ 83.0
v3.20.2
Commitment and contingencies - Environmental Liabilities Balance Sheet Information (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Other accrued expenses    
Other Commitments [Line Items]    
Current environmental liabilities $ 26.6 $ 25.0
Other long-term liabilities    
Other Commitments [Line Items]    
Long-term environmental liabilities $ 56.4 $ 53.7
v3.20.2
Leasing - Assets and liabilities, lessee (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Current liabilities:    
Current portion of operating lease liabilities $ 46.1 $ 47.4
Current portion of finance lease liabilities 23.0 20.9
Operating lease assets 154.7 157.3
Finance lease assets 76.5 69.5
Total lease assets 231.2 226.8
Noncurrent liabilities:    
Operating lease liabilities 116.4 114.5
Finance lease liabilities 55.5 50.3
Total lease liabilities $ 241.0 $ 233.1
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssetsNoncurrent us-gaap:OtherAssetsNoncurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] us-gaap:PropertyPlantAndEquipmentNet us-gaap:PropertyPlantAndEquipmentNet
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] us-gaap:OtherAccruedLiabilitiesCurrent us-gaap:OtherAccruedLiabilitiesCurrent
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] us-gaap:OtherLiabilitiesNoncurrent us-gaap:OtherLiabilitiesNoncurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] us-gaap:LongTermDebtAndCapitalLeaseObligations us-gaap:LongTermDebtAndCapitalLeaseObligations
v3.20.2
Leasing - Lease cost in income statement (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Lessee, Lease, Description [Line Items]        
Operating Leases $ 14.0 $ 12.4 $ 27.7 $ 25.3
Finance Leases 6.9 5.5 13.8 10.7
Total 20.9 17.9 41.5 36.0
Depreciation 5.9 4.8 12.1 9.4
Interest expense 1.0 0.7 1.7 1.3
Variable lease costs 0.2 0.7 0.4 0.9
Short-term lease costs 6.4 9.0 13.9 11.6
Total gross lease costs 27.5 27.6 55.8 48.5
Sublease income 0.6 0.6 1.2 1.6
Total net lease cost 26.9 27.0 54.6 46.9
Cost of goods sold (exclusive of depreciation)        
Lessee, Lease, Description [Line Items]        
Operating Leases 4.4 4.0 8.7 7.7
Finance Leases 0.0 0.0 0.0 0.0
Total 4.4 4.0 8.7 7.7
Outbound freight and handling        
Lessee, Lease, Description [Line Items]        
Operating Leases 1.4 1.9 2.7 3.7
Finance Leases 0.0 0.0 0.0 0.0
Total 1.4 1.9 2.7 3.7
Warehousing, selling and administrative        
Lessee, Lease, Description [Line Items]        
Operating Leases 8.2 6.5 16.3 13.9
Finance Leases 0.0 0.0 0.0 0.0
Total $ 8.2 $ 6.5 $ 16.3 $ 13.9
v3.20.2
Leasing - Maturity of lease obligations (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Operating Leases    
2020 $ 26.8  
2021 43.6  
2022 34.4  
2023 23.9  
2024 15.6  
2025 and After 38.5  
Total lease payments 182.8  
Less: interest 20.3  
Present value of lease liabilities, excluding guaranteed residual values 162.5  
Plus: Present value of guaranteed residual values 0.0  
Present value of lease liabilities 162.5  
Finance Leases    
2020 13.3  
2021 22.8  
2022 19.3  
2023 10.0  
2024 7.0  
2025 and After 11.5  
Total lease payments 83.9  
Less: interest 7.6  
Present value of lease liabilities, excluding guaranteed residual values 76.3  
Plus: Present value of guaranteed residual values 2.2  
Finance lease obligations 78.5 $ 71.2
Total    
2020 40.1  
2021 66.4  
2022 53.7  
2023 33.9  
2024 22.6  
2025 and After 50.0  
Total lease payments $ 266.7  
v3.20.2
Leasing - Lease term and discount rate (Details)
Jun. 30, 2020
Dec. 31, 2019
Weighted-average remaining lease term (years)    
Operating leases 5 years 4 months 24 days 5 years
Finance leases 4 years 4 months 24 days 4 years
Weighted-average discount rate    
Operating leases 4.81% 4.95%
Finance leases 4.07% 4.33%
v3.20.2
Leasing - Other information (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Leases [Abstract]    
Operating cash flows from operating leases $ 27.3 $ 28.9
Operating cash flows from finance leases 1.6 1.3
Financing cash flows from finance leases $ 12.1 $ 9.6
v3.20.2
Segments (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Segment Reporting Information [Line Items]        
Net sales $ 2,009.2 $ 2,584.6 $ 4,220.4 $ 4,744.6
Adjusted EBITDA 163.2 201.1 324.8 361.2
Long-Lived Assets 1,256.2 1,330.9 1,256.2 1,330.9
USA        
Segment Reporting Information [Line Items]        
Net sales 1,169.4 1,605.3 2,526.9 2,912.5
EMEA        
Segment Reporting Information [Line Items]        
Net sales 409.6 457.9 869.9 941.6
Canada        
Segment Reporting Information [Line Items]        
Net sales 331.5 404.8 617.3 678.6
LATAM        
Segment Reporting Information [Line Items]        
Net sales 98.7 116.6 206.3 211.9
Inter-segment        
Segment Reporting Information [Line Items]        
Net sales (24.6) (26.1) (51.9) (53.1)
Long-Lived Assets 40.3 29.3 40.3 29.3
Inter-segment | USA        
Segment Reporting Information [Line Items]        
Net sales (23.0) (23.4) (48.7) (48.3)
Inter-segment | EMEA        
Segment Reporting Information [Line Items]        
Net sales (0.9) (1.0) (1.7) (2.0)
Inter-segment | Canada        
Segment Reporting Information [Line Items]        
Net sales (0.7) (1.7) (1.5) (2.8)
Inter-segment | LATAM        
Segment Reporting Information [Line Items]        
Net sales 0.0 0.0 0.0 0.0
Operating Segments | USA        
Segment Reporting Information [Line Items]        
Net sales 1,192.4 1,628.7 2,575.6 2,960.8
Adjusted EBITDA 95.2 127.6 191.8 224.7
Long-Lived Assets 824.8 892.8 824.8 892.8
Operating Segments | EMEA        
Segment Reporting Information [Line Items]        
Net sales 410.5 458.9 871.6 943.6
Adjusted EBITDA 39.7 38.2 80.0 80.3
Long-Lived Assets 176.4 185.4 176.4 185.4
Operating Segments | Canada        
Segment Reporting Information [Line Items]        
Net sales 332.2 406.5 618.8 681.4
Adjusted EBITDA 25.2 33.8 52.5 55.5
Long-Lived Assets 185.8 188.5 185.8 188.5
Operating Segments | LATAM        
Segment Reporting Information [Line Items]        
Net sales 98.7 116.6 206.3 211.9
Adjusted EBITDA 11.0 9.4 19.3 15.1
Long-Lived Assets 28.9 34.9 28.9 34.9
Other/ Eliminations        
Segment Reporting Information [Line Items]        
Adjusted EBITDA $ (7.9) $ (7.9) $ (18.8) $ (14.4)
v3.20.2
Segments - Segment income statement information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Segment Reporting [Abstract]        
Net income (loss) $ 1.8 $ 16.3 $ 57.7 $ (47.6)
Net loss (income) from discontinued operations 0.0 0.7 0.0 (5.4)
Depreciation 40.4 39.7 82.1 72.9
Amortization 14.8 18.6 30.6 33.0
Interest expense, net 29.9 37.9 58.0 72.1
Income tax expense (benefit) 11.6 18.5 11.3 (4.8)
Other operating expenses, net 43.6 63.8 47.7 228.6
Other expense, net 3.9 5.6 9.8 11.7
Loss on sale of business 0.0 0.0 8.6 0.0
Loss on extinguishment of debt 0.0 0.0 1.8 0.7
Adjusted EBITDA 163.2 201.1 324.8 361.2
Foreign Income Tax Expense (Benefit), Continuing Operations 0.3 0.0 0.3 0.0
Impairment charges $ 16.9 $ 0.0 $ 16.9 $ 0.0
v3.20.2
Subsequent events (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Sep. 30, 2020
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Loss on sale of business   $ 0.0 $ 0.0 $ 8.6 $ 0.0
Subsequent Event | Forecast          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Loss on sale of business $ 15.1