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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 17 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ 100.0 $ 110.7 $ 112.9 $ 180.0  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:          
Loss on sale of business     0.0 8.8  
Insurance recoveries received for property damage incurred from natural disaster 1.0 (5.9) 2.7 (12.8)  
Income from equity method investments (4.4) (4.6) (7.2) (7.2)  
Dividends from affiliates     2.5 2.0  
Restructuring charges, net of cash paid     5.9 (0.2)  
Provision for bad debts     3.1 2.2  
Unrealized losses (gains), net on derivative contracts     1.1 (0.2)  
Stock-based compensation expense     10.4 11.4  
Depreciation and amortization     37.9 34.9  
Deferred income taxes     6.6 15.7  
Pension expense     4.9 64.2  
Pension contributions     (1.2) (1.0)  
Other items, net     0.7 (0.1)  
Changes in assets and liabilities, net of effects of divestitures:          
Accounts and notes receivable     (151.5) (270.0)  
Inventories     43.1 (149.9)  
Other current assets     (1.1) 10.2  
Accounts payable     (66.2) 52.6  
Accrued expenses     (11.9) (21.0)  
Income taxes payable / receivable     10.2 (11.5)  
Other, net     6.3 (19.1)  
Net cash provided by (used in) operating activities     6.5 (111.0)  
Cash flows from investing activities:          
Proceeds from the disposal of property, plant and equipment     0.3 0.8  
Purchases of property, plant and equipment     (43.5) (53.5)  
Net proceeds from sale of business and related property     0.0 43.6  
Payments to Acquire Short-term Investments     (1.1) (1.8)  
Insurance recoveries received for property damage incurred from natural disaster     0.0 12.8  
Net cash used in investing activities     (44.3) 1.9  
Cash flows from financing activities:          
Short-term debt payments     (1.9) (2.1)  
Proceeds from facilities     1.9 2.1  
Proceeds from Other Debt     91.0 65.5  
Asset securitization payments     (70.0) (43.5)  
Long-term debt borrowings     0.0 0.0  
Long-term debt payments     (2.6) (33.3)  
Borrowings from credit facility     1,060.5 1,459.5  
Payments on credit facility     (863.5) (1,037.5)  
Proceeds from employee stock purchases     1.6 1.6  
Repurchases of common stock     (100.0) (250.0)  
Repurchases of common stock to satisfy employee withholding tax obligations     (5.6) (14.5)  
Cash dividends paid     (59.1) (50.8)  
Net cash provided by financing activities     52.3 97.0  
Increase (decrease) in cash and cash equivalents     14.5 (12.1)  
Effect of exchange rates on cash and cash equivalents     (7.0) 2.2  
Cash and cash equivalents, beginning of period     37.3 46.3  
Cash and cash equivalents, end of period 44.8 36.4 44.8 36.4 $ 37.3
Supplemental disclosures of cash flow information:          
Interest paid     16.9 23.5  
Income taxes paid (net of refunds)     22.8 54.2  
Insurance recoveries received 0.0 52.0 0.0 128.0 $ 367.5
Retained Earnings [Member]          
Cash flows from operating activities:          
Net income $ 100.0 $ 110.7 112.9 $ 180.0  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:          
Insurance recoveries received for property damage incurred from natural disaster     $ 0.0