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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 149.3 $ 72.7
Net income from discontinued operations, net of tax 1.6 2.9
Net income from continuing operations 147.7 69.8
Reconciliations of net income to net cash flows provided by operating activities:    
Depreciation and amortization 80.4 80.2
Deferred income taxes (42.8) 2.5
Foreign exchange gains (12.5) (16.1)
Incentive stock compensation 7.7 7.7
Other, net 5.0 23.5
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (32.2) (0.4)
Inventories (44.0) (39.6)
Accounts payable 15.0 10.5
Accrued expenses (1.0) (11.9)
Prepaid expenses and other current assets (2.6) 2.0
Other assets and liabilities 4.1 6.2
Net cash flows provided by operating activities 124.8 134.4
Cash flows from investing activities:    
Capital expenditures (33.5) (22.9)
Proceeds from disposal of property, plant and equipment 0.0 0.5
Acquisitions, net of cash acquired (3.9) (188.3)
Other, net (6.4) (3.0)
Net cash flows used in investing activities (43.8) (213.7)
Cash flows from financing activities:    
Debt proceeds 0.0 150.0
Repayments of borrowings (5.8) (5.8)
Dividends (39.4) (38.7)
Payment of financing fees (2.1) (0.7)
Other, net (6.8) (7.5)
Net cash flows (used in) provided by financing activities (54.1) 97.3
Net cash flows provided by operating activities of discontinued operations 1.6 2.9
Effect of exchange rate changes on cash and cash equivalents (8.5) (4.1)
Net increase in cash and cash equivalents 20.0 16.8
Cash and cash equivalents at beginning of period 289.3 265.6
Cash and cash equivalents at end of period $ 309.3 $ 282.4