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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:      
Net earnings (loss) $ 153.6 $ 86.3 $ (209.5)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:      
Depreciation and amortization 54.5 54.8 68.6
Impairment charges (reversals) - net 0.0 (55.7) 166.8
Loss on sale of assets 0.0 6.6 0.0
Stock-based compensation expense 6.6 5.7 6.3
Deferred income taxes (59.6) (3.8) 67.9
Other - net 4.8 3.1 6.3
Changes in operating assets and liabilities:      
Trade accounts receivable (40.7) (55.6) (17.1)
Inventories (49.4) (70.7) (5.0)
Accounts payable 10.2 55.1 44.0
Accrued compensation and employee benefits 6.4 9.8 15.7
Other assets 19.6 (2.4) 27.5
Other liabilities 1.5 (21.7) (21.7)
Net cash provided by operating activities 107.5 11.5 149.8
Cash flows from investing activities:      
Expenditures for property, plant and equipment (50.7) (40.3) (32.7)
Proceeds from (payments for) dispositions of assets 0.3 (7.6) 0.7
Disbursements for loan origination (see Note 1) 0.0 (4.7) 0.0
Proceeds from maturities of short-term investments 3.4 3.6 3.4
Purchases of short-term investments (3.4) (3.9) (3.6)
Other - net 0.0 1.9 0.9
Net cash used for investing activities (50.4) (51.0) (31.3)
Cash flows from financing activities:      
Borrowings of debt 374.3 351.8 32.7
Repayments of debt (403.4) (306.7) (183.6)
Borrowings (repayments) on bank overdraft facilities - net 3.0 (4.3) 3.6
Purchase of treasury stock under share repurchase program (7.3) 0.0 0.0
Dividend paid to noncontrolling interest (0.6) (0.9) 0.0
Financing fees paid (0.6) (0.2) (0.8)
Other - net 1.3 (0.5) 3.0
Net cash (used for) provided by financing activities (33.3) 39.2 (145.1)
Effect of exchange rate changes on cash (2.0) (0.4) 1.4
Net increase (decrease) in cash, cash equivalents and restricted cash 21.8 (0.7) (25.2)
Cash, cash equivalents and restricted cash - beginning of year 45.4 46.1 71.3
Cash, cash equivalents and restricted cash - end of year $ 67.2 $ 45.4 $ 46.1