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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2019
Mar. 31, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Operating activities:              
Net income attributable to common shareholders $ 56.6   $ 72.5   $ 134.2 $ 245.9  
Noncontrolling interests in subsidiaries’ earnings 0.0   0.1   0.0 0.2  
Net income before allocation to noncontrolling interests 56.6 $ 62.8 72.6 $ 82.5 134.2 246.1  
Loss on deconsolidation of joint venture         0.0 1.2  
Realized gain on marketable securities         0.0 (1.1)  
Depreciation and amortization         95.3 84.2  
Stock-based compensation expense         16.2 16.8  
Defined benefit plans and postretirement credit         (4.5) (0.4)  
Deferred income taxes         7.5 18.8  
Cash used for operating working capital         (8.2) (157.1)  
Defined benefit plans and postretirement contributions         (3.1) (6.0)  
Environmental payments, net of reimbursements         (2.9) (6.5)  
Asbestos related payments, net of insurance recoveries         (23.7) (29.0)  
Other         (2.7) 4.0  
Total provided by operating activities         208.1 171.0  
Investing activities:              
Payment for acquisition - net of cash acquired         (169.2) 0.0  
Purchase of marketable securities         (60.0) (8.8)  
Proceeds from sale of marketable securities         0.0 9.9  
Proceeds from disposition of capital assets         3.9 1.3  
Capital expenditures         (20.6) (50.9)  
Impact of deconsolidation of joint venture         0.0 (0.2)  
Total used for investing activities         (245.9) (48.7)  
Financing activities:              
Dividends paid         (75.4) (70.1)  
Reacquisition of shares on open market         (70.0) 0.0  
Stock options exercised - net of shares reacquired         4.2 2.6  
Debt issuance costs         (1.3) 0.0  
Proceeds received from issuance of long-term debt         0.0 3.0  
Repayment of long-term debt         0.0 (4.5)  
Proceeds from issuance of commercial paper with maturities greater than 90 days         251.3 0.0  
Repayments of commercial paper with maturities greater than 90 days         (188.6) 0.0  
Net repayments of commercial paper with maturities of 90 days or less         (76.8) 0.0  
Proceeds from revolving credit facility         77.2 0.0  
Repayments from revolving credit facility         (77.2) 0.0  
Proceeds from term loan         343.9 0.0  
Total provided by (used for) financing activities         187.3 (69.0)  
Effect of exchange rates on cash and cash equivalents         1.2 (7.9)  
Increase in cash and cash equivalents         150.7 45.4  
Cash and cash equivalents at beginning of period   $ 393.9   $ 343.4 393.9 343.4 $ 343.4
Cash and cash equivalents at end of period $ 544.6   $ 388.8   544.6 388.8 $ 393.9
Detail of cash used for operating working capital:              
Accounts receivable         123.6 (24.1)  
Inventories         6.7 (48.9)  
Other current assets         (18.8) 3.7  
Accounts payable         (90.9) (69.2)  
Accrued liabilities         (19.7) (38.5)  
U.S. and foreign taxes on income         (9.1) 19.9  
Cash used for operating working capital         (8.2) (157.1)  
Supplemental disclosure of cash flow information:              
Interest paid         35.2 31.7  
Income taxes paid         $ 42.0 $ 32.7