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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash Flows from Operating Activities:      
Net income $ 436.8 $ 392.6 $ 441.3
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion, and amortization of intangibles and deferred financing costs 364.3 390.8 217.9
Share-based compensation expense 18.2 15.6 14.8
Deferred income tax provision (benefit) 1.7 2.6 (160.3)
Alternative energy tax credits 0.0 0.0 76.3
Loss on disposals of property, plant, and equipment 0.5 7.0 9.4
Pension and post retirement benefits expense, net of contributions 31.2 25.4 18.5
Other, net (20.3) (0.9) (1.0)
Decrease (increase) in assets —      
Accounts receivable 9.5 (8.5) (31.2)
Inventories (11.9) (72.4) 25.0
Prepaid expenses and other current assets 4.1 (5.1) (1.9)
Increase (decrease) in liabilities —      
Accounts payable (37.3) (36.0) 54.2
Accrued liabilities (15.5) 7.0 (22.1)
Federal and state income tax payable/receivable (18.7) 18.0 (32.7)
Net cash provided by operating activities 762.6 736.1 608.2
Cash Flows from Investing Activities:      
Additions to property, plant, and equipment [1] (314.5) (420.2) (234.4) [2]
Proceeds from sale of a business 23.0 0.0 0.0
Acquisitions of businesses, net of cash acquired 0.0 (20.5) (1,174.5)
Additions to other long term assets (12.3) (12.5) (3.1)
Other 5.7 2.1 0.6
Net cash used for investing activities (298.1) (451.1) (1,411.4)
Cash Flows from Financing Activities:      
Proceeds from issuance of debt 0.0 398.9 1,998.1
Repayments of debt (47.6) (592.5) (1,074.8)
Financing costs paid 0.0 (3.4) (19.4)
Common stock dividends paid (200.8) (157.4) (109.1)
Repurchases of common stock (154.7) 0.0 (7.8)
Proceeds from exercise of stock options 0.0 3.7 2.9
Excess tax benefits from stock-based awards 6.0 12.2 7.8
Shares withheld to cover employee restricted stock taxes (8.7) (13.2) (11.0)
Other 0.6 0.6 0.1
Net cash (used for) provided by financing activities (405.2) (351.1) 786.8
Net increase (decrease) in cash and cash equivalents 59.3 (66.1) (16.4)
Cash and cash equivalents, beginning of year 124.9 191.0 207.4
Cash and cash equivalents, end of year $ 184.2 $ 124.9 $ 191.0
[1] Includes "Additions to property, plant, and equipment" and excludes cash used for "Acquisitions of businesses, net of cash acquired" as reported on our Consolidated Statements of Cash Flows.
[2] On October 25, 2013, we acquired Boise Inc. (Boise). Our financial results include Boise subsequent to acquisition.