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Present and Prospective Accounting Pronouncements Cumulative Effect of Adoption (Tables)
 9 Months Ended
Sep. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
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 September 30, 2018
 
Nine Months Ended September 30, 2018
Dollar amounts in millions
As reported
 
Balances without adoption of ASC 606
 
Effect of Change Higher (Lower)
 
As reported
 
Balances without adoption of ASC 606
 
Effect of Change Higher (Lower)
Consolidated Statement of Income
 
 
 
 
 
 
 
 
 
 
 
Net sales
$
736.8

 
$
725.1

 
11.7

 
$
2,238.9

 
$
2,245.9

 
$
(7.0
)
Cost of sales
524.0

 
517.6

 
6.4

 
1,588.7

 
1,592.6

 
(3.9
)
Selling, general and administrative expenses
51.2

 
52.4

 
(1.2
)
 
151.9

 
155.0

 
(3.1
)
Provision for income taxes
41.8

 
40.2

 
1.6

 
122.7

 
122.7

 
—

Net income
124.0

 
119.1

 
4.9

 
377.6

 
377.6

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Balance Sheet
September 30, 2018
 
 
 
 
 
 
Receivables, net of allowance for doubtful accounts
$
143.5

 
$
169.1

 
$
(25.6
)
 
 
 
 
 
 
Inventory
284.4

 
264.7

 
19.7

 
 
 
 
 
 
Income taxes payable
11.6

 
10.1

 
1.5

 
 
 
 
 
 
Retained earnings
1,613.9

 
1,618.3

 
(4.4
)
 
 
 
 
 
 
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 is 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
)
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 and nine months ended September 30, 2017 is as follows:
 
Quarter Ended September 30, 2017
Dollar amounts in millions
As reported
 
ASU 2017-07
 
Reclassi- fications
 
As adjusted
Consolidated Statement of Income
 
 
 
 
 
 
 
Cost of sales (exclusive of depreciation and amortization shown separately below)
$
478.3

 
$
(1.0
)
 
$
30.4

 
$
507.7

Depreciation and amortization
31.1

 
—

 
(31.1
)
 
—

Selling, general and administrative expenses
49.2

 
(0.6
)
 
0.7

 
49.3

Income from operations
159.9

 
1.6

 
—

 
161.5

Total non-operating income (expense)
(2.6
)
 
(1.6
)
 
—

 
(4.2
)
 
Nine Months Ended September 30, 2017
Dollar amounts in millions
As reported
 
ASU 2017-07
 
Reclassi- fications
 
As adjusted
Consolidated Statement of Income
 
 
 
 
 
 
 
Cost of sales (exclusive of depreciation and amortization shown separately below)
$
1,416.3

 
$
(3.1
)
 
89.1

 
$
1,502.3

Depreciation and amortization
91.3

 
—

 
(91.3
)
 
—

Selling, general and administrative expenses
144.8

 
(1.7
)
 
2.2

 
145.3

Income from operations
368.2

 
4.8

 
—

 
373.0

Total non-operating income (expense)
(10.0
)
 
(4.8
)
 
—

 
(14.8
)
In accordance with disclosure requirements of this new accounting standard, the impact of adoption on our Consolidated Statement of Cash Flows for the quarter and nine months ended September 30, 2017 is as follows:
 
Quarter Ended September 30, 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
$
(34.8
)
 
$
—

 
$
(34.8
)
Effect of exchange rate on cash, cash equivalents and restricted cash
1.8

 
—

 
1.8

Net increase in cash, cash equivalents and restricted cash
108.7

 
—

 
108.7

Cash, cash equivalents and restricted cash at beginning of period
740.0

 
13.2

 
753.2

Cash, cash equivalents and restricted cash at end of period
848.7

 
13.2

 
861.9

 
Nine Months Ended September 30, 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
$
(109.3
)
 
$
0.2

 
$
(109.1
)
Effect of exchange rate on cash, cash equivalents and restricted cash
1.9

 
(0.2
)
 
1.7

Net increase in cash, cash equivalents and restricted cash
189.4

 
—

 
189.4

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
848.7

 
13.2

 
861.9