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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 146.4 $ 391.5 $ 295.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 62.5 59.0 55.9
Stock-based compensation 13.8 9.1 5.5
Deferred income taxes 16.8 7.4 0.6
Provision for allowances, claims, and doubtful accounts (0.1) 0.2 3.2
Loss on retirement of debt   21.3 5.5
Gain on sale of assets   (3.8) (109.6)
Gain on bargain purchase   (0.6)  
Non-cash (gain) loss from derivatives (11.3) (17.9) 27.6
Pension settlement charge     98.7
Pension and other postretirement benefits curtailment gain (0.8)    
Other items (0.4) (0.6) 0.1
Change in operating assets and liabilities, net of effects of acquisitions:      
Receivables 67.9 126.7 (252.5)
Inventories 28.8 39.9 (227.9)
Other assets and liabilities 6.4 19.2 (23.3)
Accounts payable 24.8 (72.1) 123.6
Accrued liabilities (17.3) (17.5) 32.0
Accrued taxes payable/receivable 23.3 (52.9) 25.2
Deferred employee benefit costs (11.6) (7.7) (25.0)
Tenant improvement allowance 15.9    
Net adjustments 218.7 109.7 (260.4)
Net cash provided by operating activities 365.1 501.2 35.0
Investing activities:      
Acquisitions, net of cash acquired (137.8) (57.0) (14.5)
Capital expenditures (121.9) (105.1) (59.3)
Proceeds from sale of property, plant, and equipment 0.5 8.0 166.3
Proceeds from insurance settlement 0.3    
Investment in subsidiary   (2.0)  
Other investing activities (3.2) (3.9) 1.9
Net cash provided by (used in) investing activities (262.1) (160.0) 94.4
Financing activities:      
Repayment of debt (1.7) (321.3) (157.3)
Net proceeds of short-term borrowings 69.8 26.1 45.8
Credit facility issuance costs   (2.7)  
Net increase (decrease) in book overdrafts (7.1) 29.6 (7.7)
Principal payments on finance lease obligations (7.1) (9.2) (10.5)
Dividends paid to shareholders (24.8) (19.9) (6.4)
Share repurchases (113.9) (50.0) (1.8)
Contingent payment related to acquisitions (0.3)    
Tax withholdings on stock-based compensation awards (3.2) (2.7)  
Net cash used in financing activities (88.3) (350.1) (137.9)
Net increase (decrease) in cash, cash equivalents, and restricted cash 14.7 (8.9) (8.5)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 0.2 (3.0) (1.6)
Net change in cash, cash equivalents, and restricted cash 14.9 (11.9) (10.1)
Cash, cash equivalents, and restricted cash—beginning of period 40.5 52.4 62.5
Cash, cash equivalents, and restricted cash—end of period 55.4 40.5 52.4
Cash paid during the period for:      
Interest paid to third parties, net 29.9 38.3 51.1
Income taxes, net 6.2 176.9 70.2
Noncash activities:      
Asset additions under operating leases 138.8 61.6 129.6
Asset additions under finance leases $ 5.3 $ 3.9 $ 15.8