XML 98 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income (loss) $ 55.9 $ (63.9)
Adjustments to reconcile net income (loss) to net cash used by operating activities:    
Depreciation and amortization 57.5 47.6
Amortization of deferred financing fees and debt discount 1.6 1.8
Loss on sale of business 8.6 0.0
(Gain) loss on sale of property, plant and equipment (5.3) 0.1
Loss on extinguishment of debt 1.8 0.7
Deferred income taxes (3.5) (28.2)
Stock-based compensation expense 5.7 6.0
Other 0.0 0.4
Changes in operating assets and liabilities:    
Trade accounts receivable, net (259.4) (86.6)
Inventories (50.5) (42.9)
Prepaid expenses and other current assets (58.3) (4.2)
Trade accounts payable 165.3 37.3
Pensions and other postretirement benefit liabilities (5.3) (3.3)
Other, net 7.7 11.7
Net cash used by operating activities (78.2) (123.5)
Investing activities:    
Purchases of property, plant and equipment (24.1) (16.5)
Purchases of businesses, net of cash acquired 0.0 (1,165.5)
Proceeds from sale of property, plant and equipment 7.6 0.7
(Payments)/proceeds from sale of business (8.2) 650.0
Other (6.2) (1.3)
Net cash used by investing activities (30.9) (532.6)
Financing activities:    
Proceeds from issuance of long-term debt 0.0 947.0
Payments on long-term debt and finance lease obligations (180.6) (4.6)
Net proceeds under revolving credit facilities 345.9 394.4
Short-term financing, net 6.3 (4.3)
Taxes paid related to net share settlements of stock-based compensation awards (1.3) (2.0)
Stock option exercises 0.7 0.0
Net cash provided by financing activities 171.0 1,330.5
Effect of exchange rate changes on cash and cash equivalents (12.5) (8.0)
Net increase in cash and cash equivalents 49.4 666.4
Cash and cash equivalents at beginning of period 330.3 121.6
Cash and cash equivalents at end of period 379.7 788.0
Cash paid during the period for:    
Income taxes 9.8 9.9
Interest, net of capitalized interest 18.0 40.3
Non-cash activities:    
Fair value of common stock issued for acquisition of business 0.0 649.3
Additions of property, plant and equipment included in trade accounts payable and other accrued expenses 4.8 12.4
Additions of property, plant and equipment under a finance lease obligation 18.0 1.8
Additions of assets under an operating lease obligation $ 17.5 $ 2.9