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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net income $ 139.1 $ 133.0 $ 93.1
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 39.3 40.1 42.7
Deferred taxes 3.6 (5.5) 6.4
Profit on disposal 0.0 0.0 (1.8)
Non-cash income of defined benefit pension plans (3.3) (2.5) (3.5)
Stock option compensation 8.0 6.7 4.4
Changes in assets and liabilities, net of effects of acquired and divested companies:      
Trade and other accounts receivable (12.6) (55.5) (70.3)
Inventories 83.0 (98.5) (62.0)
Prepaid expenses (4.2) 4.6 (3.5)
Accounts payable and accrued liabilities (26.9) 54.2 90.2
Plant closure provisions 4.0 1.1 (1.4)
Accrued income taxes (25.9) 9.4 (3.2)
Unrecognized tax benefits 1.4 (2.9) 0.3
Other assets and liabilities 1.8 (2.5) 1.8
Net cash provided by operating activities 207.3 81.7 93.2
Cash Flows from Investing Activities      
Capital expenditures (62.1) (39.6) (39.1)
Proceeds on disposal of property, plant and equipment 0.1 0.2 2.9
Business combinations, net of cash acquired (34.7) 0.0 0.0
Internally developed software (15.1) (2.7) 0.0
Net cash used in investing activities (111.8) (42.1) (36.2)
Cash Flows from Financing Activities      
Non-controlling interest 0.0 1.8 0.1
Proceeds from revolving credit facility 0.0 0.0 0.0
Repayments of revolving credit facility 0.0 0.0 0.0
Repayment of term loan (2.3) 0.0 0.0
Repayment of finance leases 0.0 (0.1) (0.6)
Refinancing costs (1.4) 0.0 0.0
Dividend paid (35.1) (31.7) (28.8)
Issue of treasury stock 0.9 2.2 10.1
Repurchase of common stock (1.1) (5.9) (0.8)
Net cash used in financing activities (39.0) (33.7) (20.0)
Effect of foreign currency exchange rate changes on cash 0.1 (0.6) (0.5)
Net change in cash and cash equivalents 56.6 5.3 36.5
Cash and cash equivalents at beginning of year 147.1 141.8 105.3
Cash and cash equivalents at end of year $ 203.7 $ 147.1 $ 141.8