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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities:      
Net income $ 449.6 $ 436.8 $ 392.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion, and amortization of intangibles 358.0 356.5 381.6
Amortization of deferred financing costs 7.8 7.8 9.2
Share-based compensation expense 19.7 18.2 15.6
Deferred income tax provision (benefit) (4.0) 1.7 2.6
Loss on disposals of property, plant, and equipment 7.3 0.5 7.0
Pension and post retirement benefits expense, net of contributions (30.5) 31.2 25.4
Other, net (5.9) (20.3) (0.9)
Decrease (increase) in assets —      
Accounts receivable (3.6) 9.5 (8.5)
Inventories (25.7) (11.9) (72.4)
Prepaid expenses and other current assets 0.0 4.1 (5.1)
Increase (decrease) in liabilities —      
Accounts payable 16.6 (37.3) (36.0)
Accrued liabilities (3.2) (15.5) 7.0
Federal and state income tax payable/receivable 15.1 (18.7) 18.0
Net cash provided by operating activities 801.2 762.6 736.1
Cash Flows from Investing Activities:      
Additions to property, plant, and equipment [1] (274.3) (314.5) (420.2)
Proceeds from sale of a business 0.0 23.0 0.0
Acquisitions of businesses, net of cash acquired (485.4) 0.0 (20.5)
Additions to other long-term assets (10.4) (12.3) (12.5)
Other, net 0.5 5.7 2.1
Net cash used for investing activities (769.6) (298.1) (451.1)
Cash Flows from Financing Activities:      
Proceeds from issuance of debt 385.0 0.0 398.9
Repayments of debt (37.5) (47.6) (592.5)
Financing costs paid (2.0) 0.0 (3.4)
Common stock dividends paid (216.1) (200.8) (157.4)
Repurchases of common stock (100.3) (154.7) 0.0
Proceeds from exercise of stock options 0.0 0.0 3.7
Excess tax benefits from stock-based awards 5.7 6.0 12.2
Shares withheld to cover employee restricted stock taxes (11.2) (8.7) (13.2)
Other, net (0.1) 0.6 0.6
Net cash provided by (used for) financing activities 23.5 (405.2) (351.1)
Net increase (decrease) in cash and cash equivalents 55.1 59.3 (66.1)
Cash and cash equivalents, beginning of year 184.2 124.9 191.0
Cash and cash equivalents, end of year $ 239.3 $ 184.2 $ 124.9
[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.