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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:      
Net earnings (loss) $ 86.3 $ (209.5) $ (2.0)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:      
Depreciation and amortization 54.8 68.6 77.1
Impairment charges (reversals) - net (55.7) 166.8 8.6
Loss (gain) on sale of assets 6.6 0.0 (0.8)
Stock-based compensation expense 5.7 6.3 6.6
Deferred income taxes (3.8) 67.9 1.0
Other - net 3.1 6.3 5.6
Changes in operating assets and liabilities:      
Trade accounts receivable (55.6) (17.1) 36.6
Inventories (70.7) (5.0) (12.0)
Accounts payable 55.1 44.0 (37.7)
Accrued compensation and employee benefits 9.8 15.7 (15.2)
Other assets (2.4) 27.5 14.7
Other liabilities (21.7) (21.7) (24.6)
Net cash provided by operating activities 11.5 149.8 57.9
Cash flows from investing activities:      
Expenditures for property, plant and equipment (40.3) (32.7) (71.3)
Proceeds from (payments for) dispositions of assets (7.6) 0.7 6.2
Disbursements for loan origination (see Note 1) (4.7) 0.0 0.0
Proceeds from maturities of short-term investments 3.6 3.4 4.1
Purchases of short-term investments (3.9) (3.6) (3.3)
Proceeds from sale of investment in affiliate (see Note 1) 0.0 0.0 3.8
Other - net 1.9 0.9 0.0
Net cash used for investing activities (51.0) (31.3) (60.5)
Cash flows from financing activities:      
Borrowings of debt 351.8 32.7 672.0
Repayments of debt (306.7) (183.6) (630.3)
Borrowings (repayments) on bank overdraft facilities - net (4.3) 3.6 1.2
Dividend paid to noncontrolling interest (0.9) 0.0 (1.3)
Financing fees paid (0.2) (0.8) (2.8)
Purchase of treasury stock under share repurchase program 0.0 0.0 (2.4)
Other - net (0.5) 3.0 (3.1)
Net cash provided by (used for) financing activities 39.2 (145.1) 33.3
Effect of exchange rate changes on cash (0.4) 1.4 (1.6)
Net (decrease) increase in cash, cash equivalents, restricted cash and cash held for sale (0.7) (25.2) 29.1
Cash, cash equivalents, restricted cash and cash held for sale - beginning of year 46.1 71.3 42.2
Cash, cash equivalents, restricted cash and cash held for sale - end of year $ 45.4 $ 46.1 $ 71.3