XML 17 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net earnings $ 86.2 $ 91.8
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 37.4 35.7
SBC 26.0 22.7
Total return swap (TRS) fair value adjustments 19.1 (31.5)
Restructuring and other charges 0.0 0.7
Unrealized losses on hedge derivatives 1.3 5.8
Deferred income taxes (0.1) 2.7
Other 6.2 (6.3)
Changes in non-cash working capital items:    
Accounts receivable (66.9) (16.8)
Inventories (27.7) 152.7
Other current assets 3.0 (10.1)
Accounts payable, accrued and other current liabilities, provisions and income taxes payable 45.8 (139.3)
Net cash provided by operating activities 130.3 108.1
Investing activities:    
Purchase of property, plant and equipment (36.7) (40.4)
Net cash used in investing activities (36.7) (40.4)
Financing activities:    
Borrowings under revolving loans 310.0 285.0
Repayments under revolving loans (160.0) (257.0)
Repayments under term loans (4.4) (4.6)
Principal payments of finance leases (2.6) (2.5)
Proceeds from issuance of capital stock 0.0 3.9
Repurchase of capital stock for cancellation (77.7) (16.5)
Purchase of treasury stock for SBC plans (221.6) (101.6)
Proceeds from TRS settlement 98.6 32.3
SBC cash settlement (156.0) (69.0)
Debt issuance costs paid (0.2) 0.0
Net cash used in financing activities (213.9) (130.0)
Net decrease in cash and cash equivalents (120.3) (62.3)
Cash and cash equivalents, beginning of period 423.3 370.4
Cash and cash equivalents, end of period 303.0 308.1
Supplemental disclosure information:    
Interest paid 14.8 14.7
Net income taxes paid 5.6 18.9
Non-cash investing activity:    
Unpaid purchases of property, plant and equipment at end of period $ 17.1 $ 37.2