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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating Activities      
Net income (loss) $ 490.9 $ 125.4 $ (129.5)
Less: Income from discontinued operations 0.8 15.9 447.0
Less: income attributable to noncontrolling interests 2.4 0 0
Income (loss) from continuing operations, net of tax 487.7 109.5 (576.5)
Adjustments to income (loss) from continuing operations      
Depreciation and amortization 86.9 71.1 71.3
Stock-based compensation 13.1 12.4 11.5
Asbestos-related costs, net 32.8 50.9 100.4
Transformation costs 2.2 13.0 396.1
Deferred income taxes (364.0) 34.1 302.4
Asbestos-related payments, net (25.4) (20.1) (22.0)
Transformation-related payments (7.1) (47.3) (355.0)
Contributions to postretirement plans (11.9) (71.0) (30.8)
Changes in assets and liabilities (net of acquisitions):      
Change in receivables (60.7) (17.7) (71.0)
Change in inventories (10.7) (8.7) (37.0)
Change in accounts payable 4.5 (4.3) 3.3
Change in accrued expenses 40.5 (10.1) 34.8
Change in accrued income taxes 28.6 84.1 (97.5)
Other, net 10.1 51.2 (52.4)
Net Cash - Operating activities 226.6 247.1 (322.4)
Investing Activities      
Capital expenditures (122.9) (83.8) (102.3)
Purchases of investments (240.2) (38.2) 0
Maturities of investments 168.2 0 0
Acquisitions, net of cash acquired 0.7 (193.2) (15.6)
Proceeds from sale of discontinued operations and other assets 2.3 39.5 10.4
Other, net 3.1 1.0 1.0
Net Cash - Investing activities (188.8) (274.7) (106.5)
Financing Activities      
Short-term debt, net 25.4 (24.8) 3.5
Long-term debt repaid (6.4) (1.0) (1,318.7)
Long-term debt issued 0 1.3 0
Proceeds from issuance of common stock 34.8 58.0 60.0
Repurchase of common stock (87.9) (116.8) (6.6)
Excess tax benefit from equity compensation activity 8.7 6.4 7.2
Dividends paid (36.4) (34.2) (193.0)
Contributions from Exelis and Xylem, net 0 0 1,671.0
Distributions of Exelis and Xylem, net 0 0 699.9
Other, net 3.5 3.1 (1.0)
Net Cash - Financing activities (58.3) (108.0) 922.3
Exchange rate effects on cash and cash equivalents (0.4) (4.0) (9.4)
Discontinued operations:      
Operating activities (16.3) (3.2) 561.2
Investing activities 0 (0.1) (467.3)
Financing activities 0 (2.4) (527.1)
Exchange rate effects on cash and cash equivalents 0 0 6.7
Net Cash - Discontinued operations (16.3) (5.7) (426.5)
Net change in cash and cash equivalents (37.2) (145.3) 57.5
Cash and cash equivalents – beginning of year 544.5 1,089.8 1,032.3
Cash and cash equivalents – end of year 507.3 544.5 1,089.8
Less: Cash and cash equivalents distributed to Exelis and Xylem 0 0 (400.0)
Cash and Cash Equivalents of Continuing Operations - End of Period 507.3 544.5 689.8
Cash paid (received) during the year for:      
Interest 0.9 2.3 80.2
Income taxes, net of refunds received $ 21.9 $ (100.9) $ 140.0