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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 83.6 $ 84.2
Adjustments to reconcile net income to net cash used in operating activities:    
Loss (income) from equity method investments 0.1 (3.3)
Restructuring charges, net of cash paid 0.5 0.3
Provision for credit losses 1.4 2.0
Unrealized losses (gains) on derivative contracts 0.1 (0.2)
Stock-based compensation expense 4.7 8.5
Depreciation and amortization 18.8 17.4
Deferred income taxes (5.3) 1.0
Pension expense 1.4 3.0
Pension contributions (0.1) (0.4)
Other items, net (0.9) (0.1)
Changes in assets and liabilities:    
Accounts and notes receivable (96.9) (77.5)
Inventories (168.8) (62.5)
Other current assets 1.1 (9.5)
Accounts payable 67.5 41.2
Accrued expenses (33.0) (41.8)
Income taxes payable and receivable, net 20.8 14.0
Leases, net 0.5 (0.7)
Other, net 6.6 6.9
Net cash used in operating activities (97.9) (17.5)
Cash flows from investing activities:    
Proceeds from the disposal of property, plant and equipment 0.3 0.4
Purchases of property, plant and equipment (25.8) (24.7)
(Purchases of) proceeds from short-term investments, net (0.2) 0.5
Net cash used in investing activities (25.7) (23.8)
Cash flows from financing activities:    
Asset securitization borrowings 90.0 155.0
Asset securitization payments (61.0) 0.0
Long-term debt payments (3.2) (2.9)
Borrowings from credit facility 722.5 202.0
Payments on credit facility (381.5) (165.0)
Proceeds from employee stock purchases 0.9 0.9
Repurchases of common stock (200.0) (200.0)
Repurchases of common stock to satisfy employee withholding tax obligations (4.9) (6.0)
Cash dividends paid (33.7) (29.5)
Net cash provided by financing activities 129.1 (45.5)
Increase (decrease) in cash and cash equivalents 5.5 (86.8)
Effect of exchange rates on cash and cash equivalents (2.2) (1.6)
Cash and cash equivalents, beginning of period 31.0 123.9
Cash and cash equivalents, end of period 34.3 35.5
Supplemental disclosures of cash flow information:    
Interest paid 5.8 5.5
Income taxes paid (net of refunds) $ 5.2 $ 8.2