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Present and Prospective Accounting Pronouncements Cumulative Effect of Adoption (Tables)
 3 Months Ended
Mar. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
The effect of the retrospective presentation change related to the net periodic cost of our defined benefit pension and reclassification of depreciation and amortization on our Consolidated Statement of Income for the quarter ended March 31, 2017 is as follows:
 
Quarter Ended March 31, 2017
Dollar amounts in millions
As reported
 
ASU 2017-07
 
Reclassifications
 
As adjusted
Consolidated Statement of Income
 
 
 
 
 
 
 
Cost of sales (exclusive of depreciation and amortization shown separately below)
$
453.9

 
$
(1.0
)
 
$
29.9

 
$
482.8

Depreciation and amortization
30.6

 
—

 
(30.6
)
 
—

Selling, general and administrative expenses
48.6

 
(0.6
)
 
0.7

 
48.7

Income from operations
73.8

 
1.6

 
—

 
75.4

 
 
 
 
 
 
 
 
Total non-operating income (expense)
(3.3
)
 
(1.6
)
 
—

 
(4.9
)
In accordance with the new revenue standard requirements, the disclosure of the impact on our Consolidated Statement of Income and Consolidated Balance Sheet is as follows:
 
Quarter Ended March 31, 2018
Dollar amounts in millions
As reported
 
Balances without adoption of ASC 606
 
Effect of Change Higher (Lower)
Consolidated Statement of Income
 
 
 
 
 
Net sales
$
691.3

 
$
702.4

 
$
(11.1
)
Cost of sales
514.5

 
521.0

 
(6.5
)
Selling, general and administrative expenses
50.6

 
51.4

 
(0.8
)
Provision for income taxes
29.7

 
30.6

 
(0.9
)
Net income
90.9

 
93.8

 
(2.9
)
 
 
 
 
 
 
Consolidated Balance Sheet
 
 
 
 
 
Receivables, net of allowance for doubtful accounts
149.3

 
181.3

 
(32.0
)
Inventory
329.4

 
307.1

 
22.3

Income taxes payable
21.6

 
22.5

 
(0.9
)
Retained earnings
1,364.4

 
1,367.3

 
(2.9
)
In accordance with disclosure requirements of this new accounting standard, the impact of adoption on our Consolidated Statement of Cash Flows for the quarter ended March 31, 2017 is as follows:
 
Quarter Ended March 31, 2017
Dollar amounts in millions
As reported
 
ASU 2016-18
 
As adjusted
Consolidated Statement of Cash Flows
 
 
 
 
 
Net cash provided by (used in) investing activities
$
(26.0
)
 
0.1

 
$
(25.9
)
Effect of exchange rate on cash, cash equivalents and restricted cash
$
0.9

 
(0.2
)
 
$
0.7

Net decrease in cash, cash equivalents and restricted cash
$
(9.8
)
 
(0.1
)
 
$
(9.9
)
Cash, cash equivalents and restricted cash at beginning of period
$
659.3

 
13.2

 
$
672.5

Cash, cash equivalents and restricted cash at end of period
$
649.5

 
13.1

 
$
662.6

The cumulative effect of the changes made to our Consolidated Balance Sheet as of January 1, 2018 for the adoption of ASU 2014-09 and ASU 2018-02, were as follows:
Dollar amounts in millions
Balance at December 31, 2017
 
ASU 2014-09
 
ASU 2018-02
 
Balance at January 1, 2018
Receivables, net of allowance for doubtful accounts
$
142.5

 
$
(21.7
)
 
$
—

 
$
120.8

Inventories
259.1

 
15.8

 
—

 
274.9

Deferred tax asset
2.5

 
1.5

 
—

 
4.0

 
 
 
 
 
 
 
 
Retained earnings
1,280.1

 
(4.4
)
 
16.7

 
1,292.4

Accumulated comprehensive loss
(122.1
)
 
—

 
(16.7
)
 
(138.8
)