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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net earnings $ 428.0 $ 244.4 $ 180.1
Adjustments to reconcile net earnings to net cash flows provided by operating activities:      
Depreciation and amortization 151.9 130.8 115.9
SBC 57.4 55.6 51.0
Loss (gain) recognized on derivative instruments: (91.0) (45.6) 0.0
Restructuring and other charges 5.9 1.6 0.9
Unrealized losses (gains) on hedge derivatives 13.2 6.3 (33.3)
Deferred income taxes (31.9) (3.6) (27.9)
Other 11.1 (2.2) (5.3)
Changes in non-cash working capital items:      
Accounts receivable (270.7) (402.2) (133.3)
Inventories 343.7 245.1 (717.2)
Other current assets 45.1 8.6 (51.2)
Accounts payable, accrued and other current liabilities, provisions and income taxes payable (188.8) 87.4 831.4
Net cash provided by operating activities 473.9 326.2 211.1
Investing activities:      
Cash paid for business acquisition, net of cash required (36.1) 0.0 0.0
Purchase of computer software and property, plant and equipment (170.9) (125.1) (109.0)
Proceeds from sale of assets 2.9 2.7 0.1
Other (8.4) 0.0 0.0
Net cash used in investing activities (212.5) (122.4) (108.9)
Financing activities:      
Borrowings under loans 798.0 891.0 1,235.0
Repayments under loans (798.0) (891.0) (1,235.0)
Borrowing under term loans 750.0 0.0 0.0
Repayments under term loans (617.7) (18.3) (33.2)
Principal payments of finance leases (9.7) (9.9) (8.4)
Proceeds from issuance of capital stock 3.9 0.3 0.2
Purchase of treasury stock for stock-based plans (152.0) (35.6) (34.6)
Purchase of treasury stock for stock-based plans (119.6) (82.3) (44.9)
Proceeds from TRS settlement 32.3 5.0 0.0
SBC cash settlement (84.6) (66.7) 0.0
Debt issuance costs paid (11.1) (0.4) (0.8)
Net cash used in financing activities (208.5) (207.9) (121.7)
Net increase (decrease) in cash and cash equivalents 52.9 (4.1) (19.5)
Cash and cash equivalents, beginning of year 370.4 374.5 394.0
Cash and cash equivalents, end of year 423.3 370.4 374.5
Supplemental disclosure information:      
Interest paid 52.9 68.8 52.9
Net income taxes paid 106.3 78.4 65.1
Non-cash investing activity:      
Unpaid purchases of property, plant and equipment at end of period $ 29.7 $ 52.5 $ 23.6