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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash provided (required) by operating activities of continuing operations:    
Net income (loss) $ 461,100,000 $ 552,300,000
Discontinued operations, net of income taxes 42,200,000 32,400,000
Income (loss) from continuing operations 503,300,000 584,700,000
Adjustments from income from continuing operations to cash provided (required) by operating activities of continuing operations:    
Depreciation and amortization 126,600,000 128,500,000
Restructuring and other charges (income) 98,900,000 52,300,000
Deferred income taxes 10,000,000.0 9,200,000
Pension and other postretirement benefits 9,400,000 7,600,000
Share-based compensation 18,900,000 13,500,000
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:    
Trade receivables, net (203,500,000) (170,800,000)
Guarantees of vendor financing (22,000,000.0) 14,500,000
Advance payments from customers (627,100,000) (343,900,000)
Accrued customer rebates 475,000,000.0 378,400,000
Inventories (282,300,000) (367,400,000)
Accounts payable, trade and other (19,100,000) 147,200,000
Income taxes (3,500,000) (22,000,000.0)
Pension and other postretirement benefit contributions (3,000,000.0) (2,900,000)
Environmental spending, continuing, net of recoveries (18,400,000) (51,200,000)
Restructuring and other spending [1] (25,700,000) (21,900,000)
Transaction and integration costs (500,000) (8,400,000)
Change in other operating assets and liabilities, net [2] (21,300,000) (49,200,000)
Cash provided (required) by operating activities of continuing operations 15,700,000 298,200,000
Cash provided (required) by operating activities of discontinued operations:    
Environmental spending, discontinued, net of recoveries (27,700,000) (38,100,000)
Other discontinued spending (24,100,000) (15,800,000)
Cash provided (required) by operating activities of discontinued operations (51,800,000) (53,900,000)
Cash provided (required) by investing activities of continuing operations:    
Capital expenditures (108,400,000) (76,400,000)
Investment in Enterprise Resource Planning system 0 (12,700,000)
Acquisitions, including cost and equity method, net (191,500,000) (4,600,000)
Other investing activities 5,700,000 (22,200,000)
Cash provided (required) by investing activities of continuing operations (294,200,000) (115,900,000)
Proceeds from disposal of property, plant and equipment 0 16,800,000
Cash provided (required) by investing activities of discontinued operations 0 16,800,000
Cash provided (required) by financing activities of continuing operations:    
Increase (decrease) in short-term debt 401,400,000 125,600,000
Repayments of long-term debt (1,100,000) (2,600,000)
Financing fees (1,500,000) (1,700,000)
Issuances of common stock, net 8,400,000 5,900,000
Dividends paid [3] (200,600,000) (186,200,000)
Repurchases of common stock under publicly announced program 0 (300,000,000.0)
Other repurchases of common stock (8,900,000) (8,000,000.0)
Cash provided (required) by financing activities of continuing operations 197,700,000 (367,000,000.0)
Effect of exchange rate changes on cash and cash equivalents (20,400,000) (6,100,000)
Increase (decrease) in cash and cash equivalents (153,000,000.0) (227,900,000)
Cash and cash equivalents, beginning of period 516,800,000 568,900,000
Cash and cash equivalents, end of period $ 363,800,000 $ 341,000,000.0
[1] The restructuring and other spending amount for the nine months ended September 30, 2022 and 2021 includes spending of $6.7 million and $2.0 million related to the Furadan® asset retirement obligations. The nine months ended September 30, 2022 also includes $6.3 million of additional spending not included in our roll forward of restructuring reserves in Note 9 to the condensed consolidated financial statements.
[2] Changes in all periods primarily represent timing of payments associated with all other operating assets and liabilities.
[3] See Note 14 regarding the quarterly cash dividend.