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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income (loss) including noncontrolling interests $ 209.9 $ 73.2
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 169.0 171.5
Amortization of debt issuance costs and discounts 1.3 1.5
Share-based compensation 12.8 9.8
(Gain) loss on sale or impairment of property, plant, equipment and other assets, net (5.8) (2.5)
Unrealized (gain) loss on foreign currency fluctuations and derivative instruments, net 6.3 52.5
Equity (income) loss 0.9 (3.0)
Income tax (benefit) expense 55.5 28.7
Income tax (paid) received (9.3) (10.0)
Interest expense, excluding amortization of debt issuance costs and discounts 54.1 59.7
Interest paid (73.6) (80.4)
Change in current assets and liabilities and other (395.7) (297.6)
Net cash provided by (used in) operating activities 25.4 3.4
Cash flows from investing activities    
Additions to property, plant and equipment (214.7) (181.4)
Proceeds from sales of property, plant, equipment and other assets 1.7 4.6
Other 0.5 (0.6)
Net cash provided by (used in) investing activities (212.5) (177.4)
Cash flows from financing activities    
Dividends paid (96.8) (89.5)
Payments for purchases of treasury stock (113.6) (14.6)
Payments on debt and borrowings (1.6) (1.6)
Proceeds on debt and borrowings 0.0 3.0
Other (4.2) 0.2
Net cash provided by (used in) financing activities (216.2) (102.5)
Effect of foreign exchange rate changes on cash and cash equivalents (7.2) 4.7
Net increase (decrease) in cash and cash equivalents (410.5) (271.8)
Balance at beginning of year 868.9 600.0
Balance at end of period $ 458.4 $ 328.2