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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities:      
Net income $ 170.9 $ 88.3 $ 126.3
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 94.9 95.0 94.2
Loss (gain) on disposal of property, plant and equipment (11.8) 2.0 (0.1)
Deferred income taxes (7.6) (34.8) (17.2)
Pension amortization and settlement loss 1.1 2.3 8.4
Provision for bad debts 1.4 2.8 4.1
Stock-based compensation 11.8 11.3 10.4
Impairment of assets 0.0 71.7 0.0
Provision for credit losses 30.0 0.0 0.0
Reduction of right of use asset 14.4 14.1 12.8
Non-cash debt extinguishment expenses 1.8 0.0 6.9
Restructuring costs 0.0 6.9 0.0
Other non-cash items (6.6) (4.3) (1.7)
Changes in operating assets and liabilities      
Accounts receivable 5.2 1.8 (48.3)
Inventories (26.2) 18.7 (66.1)
Pension plan funding (11.7) (9.9) (9.1)
Accounts payable 2.3 (2.9) 7.2
Restructuring liabilities (1.4) (2.8) (0.7)
Income taxes payable 5.8 6.7 11.7
Prepaid expenses and other (37.9) (33.3) (33.1)
Net cash provided by operating activities 236.4 233.6 105.7
Investing Activities:      
Purchases of property, plant and equipment (89.5) (93.5) (82.3)
Cash paid for acquisitions, net of cash acquired (4.0) (1.8) (22.4)
Proceeds from sale of assets 12.3 0.2 1.0
Purchases of short-term investments (8.6) (17.9) (6.6)
Proceeds from sale of short-term investments 8.0 20.0 6.7
Other investing activities (12.7) 1.3 2.0
Net cash used in investing activities (94.5) (91.7) (101.6)
Financing Activities:      
Long-term debt issuance 575.0 0.0 550.0
Debt issuance costs (6.7) 0.0 (3.3)
Repayment of long-term debt (533.6) (14.8) (552.3)
Proceeds from issuance of short-term debt 0.0 0.0 39.3
Repayment of short-term debt (80.2) (34.5) 0.0
Purchase of common stock for treasury (63.6) (14.2) (56.0)
Proceeds from issuance of stock under option plan 15.7 5.1 5.7
Tax withholding payments for stock-based compensation (2.8) (2.8) (3.3)
Dividends paid to non-controlling interests (1.0) (2.4) (7.7)
Cash dividends paid (13.2) (8.1) (6.5)
Net cash provided by (used in) financing activities (110.4) (71.7) (34.1)
Effect of exchange rate changes on cash and cash equivalents (15.6) (0.2) (22.3)
Net increase (decrease) in cash and cash equivalents 15.9 70.0 (52.3)
Cash and cash equivalents at beginning of period 317.2 247.2 299.5
Cash and cash equivalents at end of period 333.1 317.2 247.2
Non-cash investing and financing activities      
Property, plant and equipment additions related to asset retirement obligations 7.0 0.0 0.0
Treasury stock purchases settled after period end 0.1 0.6 0.0
Excise tax charged to equity not paid $ 0.4 $ 0.0 $ 0.0