XML 16 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities    
Net income $ 46.9 $ 46.9
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and amortization 22.4 26.1
Accelerated depreciation and fixed asset charges associated with restructuring activities 0.0 0.4
Debt extinguishment costs 0.0 0.3
Share-based compensation expense 2.7 2.4
Change in assets and liabilities, net of the effect of acquisitions:    
Increase in accounts receivable (82.4) (86.7)
Decrease (increase) in inventories 17.0 (22.4)
Increase in accounts payable 16.6 38.5
Decrease in pension and other post-retirement benefits (2.3) (3.3)
Increase (decrease) in accrued expenses and other assets and liabilities - net 5.8 (25.9)
Net cash provided (used) by operating activities 26.7 (23.7)
Investing Activities    
Capital expenditures (12.9) (15.5)
Business acquisitions, net of cash acquired (73.0) (20.9)
Sale of and proceeds from other assets 0.0 0.9
Net cash used by investing activities (85.9) (35.5)
Financing Activities    
Borrowings under credit facilities 286.6 288.8
Repayments under credit facilities (249.1) (248.4)
Purchase of common shares for treasury (42.2) (34.3)
Cash dividends paid (14.2) (11.3)
Repayment of long-term debt (1.6) (1.6)
Payments of withholding tax on share awards (1.6) (2.3)
Debt financing costs 0.0 (1.9)
Net cash used by financing activities (22.1) (11.0)
Effect of exchange rate changes on cash 3.2 1.2
Decrease in cash and cash equivalents (78.1) (69.0)
Cash and cash equivalents at beginning of period 243.6 226.7
Cash and cash equivalents at end of period $ 165.5 $ 157.7