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Consolidated Statements of Cash Flow - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operations      
Net income $ 85.8 $ 94.5 $ 34.5
Less: (Loss) gain from discontinued operations 0.0 (0.3) 0.1
Income from continuing operations 85.8 94.8 34.4
Non-cash items included in net income:      
Depreciation and amortization 57.7 61.6 59.5
Impairments 1.1 0.2 4.6
Deferred income tax (benefit) provision (3.4) 7.5 1.6
Pension and other postretirement benefits 2.6 2.8 3.8
Stock-based compensation 7.7 4.8 7.1
(Income) loss from equity affiliates (4.1) 11.3 (2.5)
Brazil tax assessment accruals, net 10.9 0.0 0.0
Gain on sale of assets 0.0 0.0 (4.9)
Long-term income tax payable (0.6) (12.0) 36.7
Change in fair value of contingent consideration 0.0 (10.2) 0.0
Cash dividends received from equity affiliates 2.6 2.0 1.8
Other items 1.8 0.4 0.7
Changes in operating working capital:      
Accounts receivable 10.8 (18.3) (0.9)
Inventories (11.2) (4.9) (6.4)
Prepaid expenses (0.2) (0.1) 0.8
Accounts payable (2.1) 8.0 4.7
Accrued expenses 3.9 (1.0) (3.0)
Accrued income taxes (3.0) (8.0) (7.1)
Net changes in operating working capital (1.8) (24.3) (11.9)
Net cash provided by operating activities of:      
- Continuing operations 160.3 138.9 130.9
- Discontinued operations 0.0 0.2 0.1
Cash provided by operations 160.3 139.1 131.0
Investing      
Capital spending (28.6) (27.0) (37.2)
Capitalized software costs (5.5) (2.7) (3.5)
Acquisitions, net of cash acquired 0.0 0.0 (291.7)
Proceeds from sale of assets 14.7 0.0 7.0
Other investing 4.6 2.2 6.9
Cash used for investing (14.8) (27.5) (318.5)
Financing      
Cash dividends paid to SWM stockholders (54.4) (53.2) (51.9)
Changes in short-term debt, net (0.1) (1.3) 1.5
Proceeds from issuances of long-term debt 19.1 634.2 440.5
Payments on long-term debt (99.5) (694.0) (208.8)
Payments for debt issuance costs 0.0 (3.6) (0.6)
Purchases of common stock (0.9) (3.0) (1.2)
Cash (used in) provided by financing (135.8) (120.9) 179.5
Effect of exchange rate changes on cash and cash equivalents (0.5) (3.8) 7.5
Increase (decrease) in cash and cash equivalents 9.2 (13.1) (0.5)
Cash and cash equivalents at beginning of period 93.8 106.9 107.4
Cash and cash equivalents at end of period $ 103.0 $ 93.8 $ 106.9