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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Net income $ 94.4 $ 240.8
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 277.3 258.0
Impairment of long-lived assets 0.0 23.9
Deferred income taxes (31.8) 38.0
Stock-based compensation 11.2 13.7
Pensions and other postretirement benefits, net of contributions (9.5) (0.6)
Gain on sale of business 0.0 (15.5)
Loss (Gain) on disposal of property, plant and equipment, net 1.1 (4.9)
Debt refinancing and redemption costs and (gain) on settlement of capital lease 2.4 (0.8)
Changes in operating assets and liabilities    
Accounts receivable (170.5) (225.7)
Inventories 0.0 (47.4)
Accounts payable and accrued expenses 24.5 83.7
Deferred revenue 0.1 8.1
Other assets and liabilities (62.3) (81.9)
Net cash provided by operating activities 136.9 289.4
Investing activities    
Purchases of property, plant and equipment (237.5) (273.0)
Proceeds from sale of property, plant and equipment 1.7 0.9
Investment in joint venture (2.2) 0.0
Purchase buyouts of leased equipment 0.0 (0.5)
Proceeds from sale of business, net 0.0 47.1
Acquisition of business 0.0 (1.3)
Net cash used in investing activities (238.0) (226.8)
Financing activities    
Payments of long-term debt and finance lease obligations (128.2) (528.7)
Proceeds from issuance of long-term debt 8.0 461.9
Debt issuance costs 0.0 (6.8)
Purchase of noncontrolling interest 0.0 (2.2)
Purchase of treasury stock (7.5) (3.6)
Net cash used in financing activities (127.7) (79.4)
Effect of exchange rate changes on cash 1.2 (4.3)
Net decrease in cash, cash equivalents and restricted cash (227.6) (21.1)
Cash, cash equivalents and restricted cash at beginning of period 478.9 376.8
Cash, cash equivalents and restricted cash at end of period 251.3 355.7
Supplemental cash flow information    
Interest paid 102.1 104.4
Income taxes paid, net of refunds $ 34.6 $ 19.6