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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Operating activities      
Net income $ 180.4 $ 34.3 $ 76.0
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 51.2 58.0 56.1
Amortization of intangible assets 35.4 34.3 33.6
Amortization of deferred financing costs 2.1 1.5 1.9
Non-cash discontinued operations asset impairment 0.0 126.0 111.2
Non-cash loss on sale of discontinued operations 0.0 22.5 0.0
Non-cash asset impairment 0.0 0.3 0.8
(Gain) loss on dispositions of property, plant and equipment (0.7) 0.5 0.9
Deferred income taxes (2.8) (27.5) (77.5)
Actuarial loss (gain) on pension and postretirement benefit obligations 36.6 (0.4) (3.3)
Other non-cash charges 1.6 6.1 2.3
(Gain) loss on extinguishment of debt (1.0) (4.3) 11.9
Stock-based compensation expense 26.9 22.6 20.5
Changes in operating assets and liabilities:      
Receivables (19.9) (29.8) (31.0)
Inventories 0.1 (24.7) 11.5
Other assets 3.2 4.1 (16.6)
Accounts payable (3.7) (1.3) 13.0
Accruals and other (10.8) 35.9 17.2
Cash provided by operating activities 298.6 258.1 228.5
Investing activities      
Expenditures for property, plant and equipment (41.4) (44.9) (40.7)
Acquisitions, net of cash acquired (84.5) (23.4) (173.6)
Proceeds from dispositions of long-lived assets 4.1 4.7 5.5
Cash dividend from equity method investment 0.0 1.3 0.0
Net (payment) proceeds from divestiture of discontinued operations (1.3) 9.0 0.0
Cash used for investing activities (123.1) (53.3) (208.8)
Financing activities      
Proceeds from borrowings of debt 1,050.0 270.8 1,529.8
Repayments of debt (835.6) (369.0) (1,816.2)
Payment of debt issuance costs 0.0 0.0 (11.0)
Repurchase of common stock (100.7) 0.0 0.0
Payment of common stock dividends (9.8) 0.0 0.0
Payment of preferred stock dividends (17.4) (23.2) (23.2)
Proceeds from exercise of stock options 36.0 7.9 7.2
Taxes withheld and paid on employees' share-based payment awards (7.6) (3.2) (1.2)
Proceeds from financing lease obligations 0.0 0.0 5.8
Cash provided by (used for) financing activities 114.9 (116.7) (308.8)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (9.5) (13.2) 16.6
Increase (decrease) in cash, cash equivalents and restricted cash 280.9 74.9 (272.5)
Cash, cash equivalents and restricted cash at beginning of period 292.5 217.6 490.1
Cash, cash equivalents and restricted cash at end of period $ 573.4 $ 292.5 $ 217.6