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CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income attributable to common shareholders $ 184.1 $ 188.3 $ 204.9
Adjustments to reconcile net income to net cash flows provided by operating activities:      
Depreciation and amortization 86.8 77.6 78.7
Stock-based compensation expense 10.6 10.3 9.3
Unrealized loss on forward contracts 3.0 0.0 0.0
Defined benefit plans and postretirement credit (2.1) (1.1) (0.3)
Deferred income taxes (17.6) 7.6 (28.4)
Cash (used for) provided by operating working capital (50.6) 0.0 39.3
Other (0.1) (6.4) 2.5
Total provided by operating activities 214.1 276.3 306.0
Investing activities:      
Payment for acquisitions, net of cash acquired (269.9) 0.0 0.0
Capital expenditures (45.4) (31.1) (21.3)
Settlement of forward contracts (2.7) 0.0 0.0
Total used for investing activities (318.0) (31.1) (21.3)
Financing activities:      
Dividends paid (36.6) (23.7) 0.0
Proceeds from stock options exercised 3.3 5.0 0.0
Payment of tax withholding on equity awards vested (6.9) (0.6) 0.0
Debt issuance costs (2.7) (5.7) 0.0
Repayment of long-term debt 0.0 (300.0) 0.0
Proceeds from revolving credit facility 448.5 20.0 0.0
Repayment of revolving credit facility (238.5) (20.0) 0.0
Proceeds from term loan 0.0 350.0 0.0
Repayment of term loan (105.0) (245.0) 0.0
Net transfers to Crane 0.0 (32.5) (135.0)
Total provided by (used for) financing activities 62.1 (252.5) (135.0)
Effect of exchange rates on cash, cash equivalents and restricted cash (12.0) 3.8 (20.2)
(Decrease) increase in cash, cash equivalents and restricted cash (53.8) (3.5) 129.5
Cash and cash equivalents at beginning of period 227.2 230.7 101.2
Cash, cash equivalents and restricted cash at end of period 173.4 227.2 230.7
Detail of cash (used for) provided by operating working capital      
Accounts receivable (44.4) (6.3) 0.3
Inventories 21.3 (1.0) (12.7)
Other current assets (9.0) 0.0 (0.6)
Accounts payable 5.7 (6.8) 13.9
Accrued liabilities (28.4) (2.5) 34.4
U.S. and foreign taxes on income 4.2 16.6 4.0
Total 50.6 0.0 (39.3)
Supplemental disclosure of cash flow information:      
Interest paid 44.1 45.1 41.2
Income taxes paid, net 63.8 46.0 63.5
Unpaid capital expenditures $ 7.2 $ 7.1 $ 3.1