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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 43.0 $ 56.4
Reconciliations of net income to net cash flows provided by (used in) operating activities:    
Depreciation and amortization 39.1 41.6
Deferred income taxes (0.4) 2.5
Foreign exchange gain (7.3) (0.1)
Incentive stock compensation 4.4 5.2
Other, net 2.2 4.3
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (2.6) (49.6)
Inventories (29.1) (47.5)
Accounts payable 18.6 41.2
Accrued expenses (22.3) (49.6)
Prepaid expenses and other current assets 2.7 (10.5)
Other assets and liabilities 5.2 0.5
Net cash flows provided by (used in) operating activities 53.5 (5.6)
Cash flows from investing activities:    
Capital expenditures (9.1) (9.5)
Proceeds from disposal of property, plant and equipment 0.5 0.0
Acquisition of business, net of cash acquired 0.0 (22.6)
Other, net (3.0) (5.0)
Net cash flows used in investing activities (11.6) (37.1)
Cash flows from financing activities:    
Repayments of borrowings (2.9) (3.1)
Repurchases of common stock 0.0 (18.3)
Dividends (19.4) (19.9)
Other, net (7.2) (25.8)
Net cash flows used in financing activities (29.5) (67.1)
Effect of exchange rate changes on cash and cash equivalents 1.0 (1.5)
Net increase (decrease) in cash and cash equivalents 13.4 (111.3)
Cash and cash equivalents at beginning of period 265.6 330.1
Cash and cash equivalents at end of period $ 279.0 $ 218.8