XML 22 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES FROM CONTINUING OPERATIONS      
Income (loss) from continuing operations $ 33.0 $ 11.4 $ (0.1)
Adjustments to reconcile income (loss) from continuing operations to net cash provided (used) by operating activities from continuing operations:      
Depreciation and amortization 31.7 30.2 30.8
Stock-based compensation 6.5 7.2 6.5
Gain on sales of assets, net (0.8) (2.4) (14.7)
Deferred income taxes (7.2) (8.3) (5.8)
Changes in operating assets and liabilities:      
Accounts receivable (14.1) (23.2) (3.4)
Inventories (1.3) (56.0) (55.1)
Prepaid and other current assets (1.2) (11.1) 1.2
Accounts payable and accrued expenses 3.3 33.1 36.6
Other 3.5 (7.5) (8.2)
Net cash provided (used) by operating activities from continuing operations 53.4 (26.6) (12.2)
INVESTING ACTIVITIES FROM CONTINUING OPERATIONS      
Purchases of property, plant and equipment (28.2) (26.9) (22.3)
Proceeds from sales of assets 2.0 9.5 20.3
Proceeds from sale of discontinued operations 15.5 0.0 0.0
Business acquisitions, net of cash acquired (1.2) (23.3) (5.4)
Net cash used by investing activities from continuing operations (11.9) (40.7) (7.4)
FINANCING ACTIVITIES FROM CONTINUING OPERATIONS      
(Payments on) proceeds from revolving credit facility, net (22.3) 64.8 77.6
Payments on term loans and other debt (7.2) (3.6) (6.3)
Proceeds from other long-term debt 4.3 3.5 2.3
Proceeds from (payments on) finance lease facilities, net 0.9 8.5 (0.3)
Proceeds from down payment for sale of discontinued operations 0.0 20.0 0.0
Payments related to prior acquisitions (2.9) 0.0 0.0
Dividends (7.4) (7.0) (7.0)
Purchases of treasury stock 0.0 0.0 (2.5)
Payments of withholding taxes on stock awards (2.0) (1.6) (3.0)
Net cash (used) provided by financing activities from continuing operations (36.6) 84.6 60.8
DISCONTINUED OPERATIONS      
Total used by operating activities [1] (2.9) (1.0) (31.1)
Total used by investing activities [1] (3.9) (4.8) (8.8)
Total used by financing activities [1] (2.4) (3.4) (0.9)
Decrease in cash and cash equivalents from discontinued operations [1] (9.2) (9.2) (40.8)
Effect of exchange rate changes on cash 0.9 (4.0) (1.3)
(Decrease) increase in cash and cash equivalents (3.4) 4.1 (0.9)
Cash and cash equivalents at beginning of year 58.2 54.1 55.0
Cash and cash equivalents at end of year 54.8 58.2 54.1
Income taxes paid (received), net 7.3 10.7 (1.0)
Interest paid $ 47.6 $ 34.5 $ 28.8
[1] Our continuing operations exclude the results of our Aluminum Products business unit, which was sold December 29, 2023 and presented in discontinued operations for all periods presented.