XML 16 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 18 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Cash flows from operating activities:          
Net income $ 32.5 $ 33.7 $ 61.5 $ 53.4  
Loss from discontinued operations, net of taxes 0.0 0.3 0.0 0.3  
Income from continuing operations 32.5 34.0 61.5 53.7  
Adjustments to reconcile income from continuing operations to cash provided by continuing operating activities:          
Depreciation and amortization     35.2 30.3  
Stock-based compensation     2.1 4.7  
Other     4.1 3.1  
Changes in operating assets and liabilities:          
Trade receivables, net and contract assets     53.5 (4.3)  
Inventories     2.6 (13.8)  
Accounts payable, trade and other     (46.2) (36.0)  
Advance and progress payments     (3.5) (34.5)  
Accrued pension and other postretirement benefits, net     (0.4) (3.1)  
Other assets and liabilities, net     (7.9) 13.0  
Cash provided by continuing operating activities     101.0 13.1  
Cash required by discontinued operating activities     0.0 (0.1)  
Cash provided by operating activities     101.0 13.0  
Cash flows from investing activities:          
Acquisitions, net of cash acquired     (4.5) (367.8) $ (387.9)
Capital expenditures     (16.2) (17.8)  
Proceeds from disposal of assets     1.7 0.6  
Cash required by investing activities     (19.0) (385.0)  
Cash flows from financing activities:          
Net (payments) proceeds on short-term debt     (0.8) 2.3  
Net (payments) proceeds from domestic credit facilities     (50.9)    
Net (payments) proceeds from domestic credit facilities       381.7  
Settlement of taxes withheld on stock-based compensation awards     (2.2) (6.4)  
Deferred acquisition payments     0.0 (3.6)  
Dividends     (6.3) (6.3)  
Cash (required) provided by financing activities     (60.2) 367.7  
Effect of foreign exchange rate changes on cash and cash equivalents     (3.3) 0.4  
Increase (decrease) in cash and cash equivalents     18.5 (3.9)  
Cash and cash equivalents, beginning of period     39.5 43.0 43.0
Cash and cash equivalents, end of period $ 58.0 $ 39.1 $ 58.0 $ 39.1 $ 58.0