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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 445,600,000 $ 402,700,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Income from equity method investments (8,000,000.0) (3,900,000)
Impairment, Long-Lived Asset, Held-for-Use 63,200,000 0
Restructuring charges, net of cash paid 0 700,000
Provision for credit losses 4,700,000 4,300,000
Unrealized losses, net on derivative contracts 5,600,000 800,000
Stock-based compensation expense 23,500,000 16,400,000
Depreciation and amortization 62,000,000.0 56,200,000
Deferred income taxes (24,900,000) (16,600,000)
Pension expense 2,400,000 5,100,000
Pension contributions (2,800,000) (700,000)
Other items, net (1,400,000) (1,400,000)
Changes in assets and liabilities:    
Dividends from affiliates 0 1,200,000
Accounts and notes receivable (142,500,000) (214,900,000)
Inventories (44,900,000) (245,700,000)
Other current assets (500,000) (5,100,000)
Accounts payable (10,900,000) 78,700,000
Accrued expenses 69,400,000 36,000,000.0
Income taxes payable and receivable, net (6,700,000) 35,500,000
Leases, net 3,400,000 800,000
Other, net (7,300,000) 20,000,000.0
Net cash provided by operating activities 429,900,000 170,100,000
Cash flows from investing activities:    
Proceeds from the disposal of property, plant and equipment 1,600,000 1,200,000
Purchases of property, plant and equipment (125,000,000.0) (67,000,000.0)
Purchases of short-term investments (1,100,000) (2,400,000)
Net cash used in investing activities (124,500,000) (68,200,000)
Cash flows from financing activities:    
Asset securitization borrowings 190,000,000.0 382,000,000.0
Asset securitization payments (540,000,000.0) (232,000,000.0)
Long-term debt payments (10,600,000) (9,800,000)
Issuance of senior unsecured notes 500,000,000.0 0
Borrowings from credit facility 1,547,500,000 1,967,500,000
Payments of deferred financing costs (5,400,000) 0
Payments on credit facility (1,739,500,000) (1,752,000,000)
Proceeds from employee stock purchases 2,900,000 2,700,000
Repurchases of common stock 0 (300,000,000.0)
Repurchases of common stock to satisfy employee withholding tax obligations (7,100,000) (5,500,000)
Cash dividends paid (153,400,000) (142,000,000.0)
Net cash used in financing activities (215,600,000) (89,100,000)
Increase in cash and cash equivalents 89,800,000 12,800,000
Cash balances classified as assets held for sale (7,600,000) 0
Effect of exchange rates on cash and cash equivalents (2,800,000) (3,100,000)
Cash and cash equivalents, beginning of period 52,600,000 31,000,000.0
Cash and cash equivalents, end of period 132,000,000.0 40,700,000
Supplemental disclosures of cash flow information:    
Interest paid 42,000,000.0 23,200,000
Income taxes paid (net of refunds) $ 151,300,000 $ 75,400,000