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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 72.7 $ 121.8
Net income from discontinued operations, net of tax 2.9 1.8
Net income from continuing operations 69.8 120.0
Reconciliations of net income to net cash flows provided by operating activities:    
Depreciation and amortization 80.2 82.2
Deferred income taxes 2.5 7.9
Foreign exchange (gain) loss (16.1) 0.1
Incentive stock compensation 7.7 8.8
Other, net 23.5 7.7
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (0.4) (59.8)
Inventories (39.6) (75.9)
Accounts payable 10.5 43.2
Accrued expenses (11.9) (43.2)
Prepaid expenses and other current assets 2.0 (15.3)
Other assets and liabilities 6.2 (7.0)
Net cash flows provided by operating activities 134.4 68.7
Cash flows from investing activities:    
Capital expenditures (22.9) (21.7)
Proceeds from disposal of property, plant and equipment 0.5 3.4
Acquisitions, net of cash acquired (188.3) (22.6)
Other, net (3.0) (5.1)
Net cash flows used in investing activities (213.7) (46.0)
Cash flows from financing activities:    
Debt proceeds 150.0 0.0
Repayments of borrowings (5.8) (6.3)
Repurchases of common stock 0.0 (59.7)
Dividends (38.7) (39.6)
Payment of financing fees (0.7) 0.0
Other, net (7.5) (23.8)
Net cash flows provided by (used in) financing activities 97.3 (129.4)
Net cash flows provided by operating activities of discontinued operations 2.9 1.8
Effect of exchange rate changes on cash and cash equivalents (4.1) (9.6)
Net increase (decrease) in cash and cash equivalents 16.8 (114.5)
Cash and cash equivalents at beginning of period 265.6 330.1
Cash and cash equivalents at end of period $ 282.4 $ 215.6