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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income (loss) $ 188.9 $ (48.8)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 40.5 40.5
Stock-based compensation 4.3 1.4
Deferred income taxes 8.9 (10.9)
Provision for allowances, claims, and doubtful accounts 3.8 (1.1)
Restructuring and other charges   2.2
Gain on sale of assets (107.7)  
Pension settlement charge 98.8 54.3
Loss on retirement of debt 5.5 16.2
Non-cash (gain) loss from derivatives 37.7 (5.0)
Change in operating assets and liabilities:    
Receivables (322.0) 28.4
Inventories (252.0) 169.0
Other assets and liabilities (31.2) 13.5
Accounts payable 233.6 55.8
Accrued liabilities 31.3 (8.5)
Accrued taxes payable/receivable 12.7 (1.6)
Deferred employee benefit costs (24.9) (8.7)
Net adjustments (260.7) 345.5
Net cash provided by (used in) operating activities (71.8) 296.7
Investing activities:    
Acquisitions, net of cash acquired (14.5)  
Capital expenditures (25.0) (17.9)
Proceeds from sale of property, plant, and equipment 166.0 0.1
Net cash provided by (used in) investing activities 126.5 (17.8)
Financing activities:    
Long term debt issued   500.0
Repayment of debt (156.9) (602.8)
Net proceeds (repayments) of short-term borrowings 79.3 (73.5)
Bond issuance costs   (10.6)
Net increase (decrease) in book overdrafts 13.7 (16.2)
Principal payments on finance lease obligations (7.5) (9.9)
Dividends paid to shareholders (3.1)  
Share repurchases (0.9)  
Dividends paid to non-controlling interest   (0.2)
Net cash used in financing activities (75.4) (213.2)
Net increase (decrease) in cash, cash equivalents, and restricted cash (20.7) 65.7
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (0.8) (2.6)
Net change in cash, cash equivalents, and restricted cash (21.5) 63.1
Cash, cash equivalents, and restricted cash—beginning of period 62.5 59.8
Cash, cash equivalents, and restricted cash—end of period 41.0 122.9
Cash paid during the period for:    
Interest paid to third parties, net 47.9 57.8
Income taxes, net 42.7 (7.1)
Noncash investing activities:    
Asset additions under operating leases 115.4 0.9
Asset additions under finance leases and sale-leasebacks $ 13.9 $ 1.4