XML 32 R5.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Income from continuing operations $ 38.6 $ 37.2
Adjustments to reconcile income from continuing operations to net cash provided by (used in) operating activities:    
Depreciation and amortization 3.0 3.3
Other non-cash benefit (0.8) 0.0
Provision for returns and doubtful accounts 0.4 0.2
Compensation expense related to equity compensation plans 4.0 0.5
(Benefit) provision for deferred taxes (0.5) 0.6
Loss on disposition and abandonment 0.1 0.0
Changes in operating assets and liabilities:    
Accounts receivable (13.0) (15.8)
Inventories 5.1 (3.2)
Prepaid expenses and other current assets (3.0) (3.1)
Income taxes payable 7.2 4.5
Accounts payable 18.7 (2.7)
Accrued expenses, other current liabilities and other liabilities 5.1 (6.3)
Net cash provided by operating activities from continuing operations 64.9 15.2
Net cash used in operating activities from discontinued operations 0.0 (35.1)
Net cash provided by (used in) operating activities 64.9 (19.9)
Cash flows from investing activities:    
Purchases of property, plant and equipment (6.2) (2.9)
Net cash used in investing activities from continuing operations (6.2) (2.9)
Net cash provided by investing activities from discontinued operations 0.0 249.6
Net cash provided by (used in) investing activities (6.2) 246.7
Cash flows from financing activities:    
Dividends paid (257.1) (105.2)
Proceeds from issuance of common stock 0.8 4.2
Payment of payroll taxes on stock-based compensation through shares withheld (0.9) (1.4)
Proceeds from the issuance of common stock from employee stock purchase plan 0.8 0.0
Repurchase of treasury shares 0.0 (9.1)
Net cash used in financing activities (256.4) (111.5)
Effects of exchange rates on cash (0.1) 3.0
Net (decrease) increase in cash (197.8) 118.3
Cash – beginning of period 295.4 184.5
Cash – end of period 97.6 302.8
Supplemental disclosures of non-cash operating and investing activities:    
Right-of-use assets obtained in exchange for lease obligations, operating leases $ 15.4 $ 0.0