XML 29 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Cash flows from (used in) operating activities:      
Net income (loss) $ 89.3 $ (67.6) $ (117.0)
Less: Income (loss) from discontinued operations, net of tax 5.3 (97.9) 34.6
Income (loss) from continuing operations 84.0 30.3 (151.6)
Adjustments to reconcile income (loss) from continuing operations to net cash from (used in) operating activities      
Special charges, net 2.7 5.3 5.1
Gain on asset sales 0.0 (0.9) (1.2)
Gain on sale of dry cooling business 0.0 (18.4) 0.0
Impairment of intangible assets 0.0 30.1 0.0
Loss on amendment/refinancing of senior credit agreement (0.9) (1.3) (1.4)
Deferred and other income taxes (21.0) 0.0 4.9
Depreciation and amortization 25.2 26.5 37.0
Pension and other employee benefits 14.9 24.8 35.2
Long-term incentive compensation 15.8 13.7 33.9
Other, net 4.7 3.2 3.8
Changes in operating assets and liabilities, net of effects from acquisition and divestitures      
Accounts receivable and other assets (102.8) (28.7) (6.9)
Inventories 4.5 8.5 (21.2)
Accounts payable, accrued expenses and other 28.3 (40.2) (11.3)
Cash spending on restructuring actions (3.0) (2.1) (5.1)
Net cash from (used in) continuing operations 54.2 53.4 (76.0)
Net cash from (used in) discontinued operations (6.6) (46.9) 37.5
Net cash from (used in) operating activities 47.6 6.5 (38.5)
Cash flows from (used in) investing activities:      
Proceeds from asset sales 0.0 48.1 2.0
Increase in restricted cash (0.3) 0.0 0.0
Capital expenditures (11.0) (11.7) (16.0)
Net cash from (used in) continuing operations (11.3) 36.4 (14.0)
Net cash used in discontinued operations (includes cash divested with the sale of Balcke Dürr of $30.2 in 2016) 0.0 (30.9) (40.2)
Net cash from (used in) investing activities (11.3) 5.5 (54.2)
Cash flows used in financing activities:      
Borrowings under senior credit facilities 404.6 56.2 1,264.0
Repayments under senior credit facilities (395.8) (65.0) (1,167.0)
Borrowings under trade receivables agreement 74.0 72.0 156.0
Repayments under trade receivables agreement (74.0) (72.0) (166.0)
Net borrowings (repayments) under other financing arrangements (10.1) (10.1) 12.2
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other (1.3) (1.6) (6.2)
Financing fees paid (3.6) 0.0 (12.2)
Dividends paid 0.0 0.0 (45.9)
Cash divested in connection with the spin-off of FLOW Business 0.0 0.0 (208.6)
Net cash used in continuing operations (6.2) (20.5) (173.7)
Net cash used in discontinued operations 0.0 0.0 (1.9)
Net cash used in financing activities (6.2) (20.5) (175.6)
Change in cash and equivalents due to changes in foreign currency exchange rates (5.4) 6.7 (57.9)
Net change in cash and equivalents 24.7 (1.8) (326.2)
Consolidated cash and equivalents, beginning of period 99.6 101.4 427.6
Consolidated cash and equivalents, end of period 124.3 99.6 101.4
Cash and equivalents of continuing operations 124.3 99.6 97.2
Supplemental disclosure of cash flow information:      
Interest paid 15.1 12.5 60.8
Income taxes paid, net of refunds of $2.7, $4.3 and $8.8 in 2017, 2016 and 2015, respectively 22.9 4.8 51.0
Non-cash investing and financing activity:      
Debt assumed $ 0.9 $ 3.9 $ 1.0