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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 408.7 $ 359.0 $ 305.7
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (gain), net on sale of businesses and related property 10.6 27.0 1.1
Insurance recoveries received for property damage incurred from natural disaster (79.6) (10.9) 0.0
Income from equity method investments (13.4) (12.0) (18.4)
Dividends from affiliates 12.3 9.6 14.7
Restructuring expenses, net of cash paid 6.8 1.3 0.8
Provision for bad debts 4.5 4.7 3.9
Unrealized losses (gains), net on derivative contracts (0.5) 1.3 (2.0)
Stock-based compensation expense 21.3 26.3 24.9
Depreciation and amortization 71.1 66.0 64.6
Deferred income taxes 16.6 25.2 43.3
Pension expense 106.1 8.8 5.3
Pension contributions (1.8) (20.6) (3.5)
Other items, net (0.4) 5.1 1.3
Changes in assets and liabilities, net of effects of acquisitions and divestitures:      
Accounts and notes receivable (33.1) (9.9) (28.4)
Inventories (63.9) (84.2) (56.4)
Other current assets 2.8 (0.2) (6.1)
Accounts payable (56.1) 102.2 (19.6)
Accrued expenses (5.6) 5.9 0.3
Income taxes payable and receivable (1.9) (5.5) (6.7)
Leases, net 2.1 0.0 0.0
Other, net (10.5) (3.6) 0.3
Net cash provided by operating activities 396.1 495.5 325.1
Cash flows from investing activities:      
Proceeds from the disposal of property, plant and equipment 1.3 0.1 0.2
Purchases of property, plant and equipment (105.6) (95.2) (98.3)
Purchases of short-term investments (2.9) 0.0 0.0
Net proceeds from sale of businesses 43.5 114.7 0.0
Insurance recoveries received for property damage incurred from natural disaster 79.6 10.9 0.0
Net cash used in investing activities 15.9 30.5 (98.1)
Cash flows from financing activities:      
Short-term debt payments (5.3) (40.3) (31.9)
Short-term debt proceeds 5.3 40.3 30.4
Asset securitization borrowings 184.5 155.0 315.0
Asset securitization payments (167.5) (163.0) (89.0)
Long-term debt payments (6.4) (3.0) (200.9)
Borrowings from credit facility 2,367.0 2,435.9 2,376.5
Payments on credit facility (2,269.5) (2,395.0) (2,265.5)
Payments of deferred financing costs (0.3) 0.0 (0.2)
Proceeds from employee stock purchases 3.3 3.3 3.1
Repurchases of common stock (400.0) (450.2) (250.0)
Repurchases of common stock to satisfy employee withholding tax obligations (24.0) (26.9) (26.1)
Cash dividends paid (110.5) (93.9) (79.7)
Net cash used in financing activities (423.4) (537.8) (218.3)
(Decrease) increase in cash and cash equivalents (11.4) (11.8) 8.7
Effect of exchange rates on cash and cash equivalents 2.4 (10.1) 9.3
Cash and cash equivalents, beginning of year 46.3 68.2 50.2
Cash and cash equivalents, end of year 37.3 46.3 68.2
Cash paid during the year for:      
Interest, net 46.8 38.7 32.4
Income taxes (net of refunds) 83.0 90.0 119.3
Insurance recoveries received $ 243.2 $ 124.3 $ 0.0