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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 47.5 $ 163.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13.7 13.5
Stock-based compensation 2.5 1.3
Deferred income taxes 4.5 0.9
Provision for allowances, claims, and doubtful accounts 1.6 1.9
Pension settlement charge   0.1
Loss on retirement of debt   5.3
Non-cash gain from derivatives (6.4) (10.3)
Other items   (0.5)
Change in operating assets and liabilities:    
Receivables (94.8) (157.1)
Inventories 89.3 (5.9)
Other assets and liabilities (4.2) (8.9)
Accounts payable 59.0 87.4
Accrued liabilities (33.1) (28.3)
Accrued taxes payable/receivable 7.6 23.2
Deferred employee benefit costs (6.8) (3.9)
Net adjustments 32.9 (81.3)
Net cash provided by operating activities 80.4 82.5
Investing activities:    
Acquisitions, net of cash acquired (38.9) (3.0)
Capital expenditures (27.8) (18.8)
Proceeds from sale of property, plant, and equipment   1.0
Net cash used in investing activities (66.7) (20.8)
Financing activities:    
Repayment of debt (0.4) (68.8)
Net proceeds (repayments) of short-term borrowings 28.3 (26.1)
Net increase in book overdrafts 22.9 33.6
Principal payments on finance lease obligations (1.5) (2.5)
Dividends paid to shareholders (6.0) (3.8)
Share repurchases (53.2) (0.5)
Net cash used in financing activities (9.9) (68.1)
Net increase (decrease) in cash, cash equivalents, and restricted cash 3.8 (6.4)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 0.7 (0.2)
Net change in cash, cash equivalents, and restricted cash 4.5 (6.6)
Cash, cash equivalents, and restricted cash—beginning of period 40.5 52.4
Cash, cash equivalents, and restricted cash—end of period 45.0 45.8
Cash paid during the period for:    
Interest paid to third parties, net 6.1 16.1
Income taxes, net 2.0 31.7
Noncash investing activities:    
Asset additions under operating leases $ 13.4 2.1
Asset additions under finance leases and sale-leasebacks   $ 2.0