XML 28 R7.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities      
Net earnings (loss) $ 235.4 $ (511.4) $ (136.8)
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 104.7 112.4 108.9
Amortization of intangibles and supply agreements 17.7 23.6 71.0
Long-lived asset impairment 19.0 6.3 443.7
Goodwill impairment 0.0 676.0 0.0
Increase (decrease) in provision for losses on accounts receivable 6.7 6.3 (6.5)
Write-down of inventories 12.5 35.7 9.0
Gain on sale of Aerospace Products Group (90.9) 0.0 0.0
Net gain on disposal of assets and businesses (64.1) (35.6) (20.1)
Deferred income tax benefit (20.2) (58.0) (129.2)
Stock-based compensation 19.6 26.5 27.6
Pension expense (income), net of contributions 18.3 1.1 (2.0)
Other, net (3.8) (7.2) 15.6
Changes in working capital, excluding effects from acquisitions and divestitures:      
Accounts and other receivables 85.4 42.5 48.6
Inventories 35.0 44.7 86.5
Other current assets (5.3) 3.6 4.0
Accounts payable (27.5) (27.9) 13.7
Accrued expenses and other current liabilities (4.3) (32.9) (36.8)
Net Cash Provided by Operating Activities 338.2 305.7 497.2
Investing Activities      
Additions to property, plant and equipment (57.2) (81.6) (113.8)
Proceeds from disposal of Aerospace Products Group 276.1 0.0 0.0
Proceeds from disposals of assets and businesses 74.4 47.0 23.4
Other, net 0.0 (2.0) (0.9)
Net Cash Provided by (Used for) Investing Activities 293.3 (36.6) (91.3)
Financing Activities      
Additions to long-term debt 0.0 0.0 0.7
Payments on long-term debt (0.1) (300.1) (2.0)
Change in commercial paper and short-term debt   174.2  
Change in commercial paper and short-term debt (376.1)   (105.8)
Dividends paid (27.0) (136.3) (239.4)
Purchases of common stock (2.4) (4.9) (6.0)
Other, net (7.6) (2.9) (6.3)
Net Cash Used for Financing Activities (413.2) (270.0) (358.8)
Effect of Exchange Rate Changes on Cash 18.9 (14.4) 1.9
Increase (Decrease) in Cash and Cash Equivalents 237.2 (15.3) 49.0
Cash and Cash Equivalents—Beginning of Year 350.2 365.5 316.5
Cash and Cash Equivalents—End of Year 587.4 350.2 365.5
Supplemental Information      
Interest paid (net of amounts capitalized) 69.7 84.9 85.8
Property, plant and equipment acquired through finance leases 1.7 1.1 1.4
Capital expenditures in accounts payable $ 4.1 $ 4.7 $ 3.2