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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES    
Net earnings $ 53.5 $ 90.4
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 27.4 28.2
Amortization of intangibles and supply agreements 18.0 17.5
(Decrease) increase in provision for losses on accounts and notes receivable (2.3) 1.4
Writedown of inventories 4.7 3.2
Net gain from sales of assets and businesses (0.3) (0.7)
Deferred income tax (benefit) expense (1.2) 2.0
Stock-based compensation 9.7 12.9
Other, net 6.0 (1.5)
Increases/(decreases) in, excluding effects from acquisitions and divestitures:    
Accounts and other receivables (38.4) (57.8)
Inventories 13.7 (58.3)
Other current assets (0.3) (1.2)
Accounts payable 30.8 11.4
Accrued expenses and other current liabilities (24.6) (8.5)
NET CASH PROVIDED BY OPERATING ACTIVITIES 96.7 39.0
INVESTING ACTIVITIES    
Additions to property, plant and equipment (37.7) (18.7)
Proceeds from sales of assets and businesses 0.5 2.4
Other, net 0.8 0.0
NET CASH USED FOR INVESTING ACTIVITIES (36.4) (16.3)
FINANCING ACTIVITIES    
Payments on long-term debt (0.8) (0.1)
Change in commercial paper and short-term debt 29.3 21.0
Dividends paid (58.3) (56.0)
Purchases of common stock (5.2) (21.6)
Other, net (0.6) (0.4)
NET CASH USED FOR FINANCING ACTIVITIES (35.6) (57.1)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 3.3 0.0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 28.0 (34.4)
CASH AND CASH EQUIVALENTS—January 1, 316.5 361.7
CASH AND CASH EQUIVALENTS—March 31, $ 344.5 $ 327.3