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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities:    
Net income $ 210.1 $ 191.7
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 114.6 117.1
Deferred taxes 4.1 2.8
Gain on joint venture deconsolidation 0.0 (15.9)
Gain from disposal of property, plant and equipment, net (90.6) (0.5)
Net loss from sales of businesses 1.8 0.0
Changes in operating assets and liabilities:    
Inventories 12.2 (137.2)
Accounts receivable (92.5) (43.0)
Accounts payable (75.2) 71.0
Retirement benefits (86.0) (10.1)
Accrued income taxes 4.2 4.7
Accrued liabilities and other (12.7) (64.0)
Cash (used in) provided by operating activities (10.0) 116.6
Investing Activities:    
Purchases of property, plant and equipment (98.1) (101.3)
Purchase of businesses 0.0 (10.0)
Proceeds from sale of businesses, net of transaction costs 155.9 0.0
Proceeds from disposal of property, plant and equipment 91.8 1.4
Other (0.2) 0.8
Cash provided by (used in) investing activities 149.4 (109.1)
Financing Activities:    
Borrowings on long-term debt 0.0 7.1
Payments on long-term debt and finance leases (5.3) (4.6)
Net borrowings under credit facilities 5.1 4.0
Dividends to noncontrolling interests 0.0 (10.0)
Sales to noncontrolling interests 0.0 14.4
Shares repurchased for income tax withholding on share-based compensation and other (9.9) (6.5)
Cash (used in) provided by financing activities (10.1) 4.4
Increase (decrease) in cash and cash equivalents    
Increase in cash and cash equivalents 129.3 11.9
Cash and cash equivalents at beginning of period 382.0 141.6
Cash and cash equivalents at end of period $ 511.3 $ 153.5