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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income from continuing operations $ 47.7 $ 38.6
Adjustments to reconcile income from continuing operations to net cash provided by (used in) operating activities:    
Depreciation and amortization 3.1 3.0
Other non-cash benefit 0.0 (0.7)
Provision for doubtful accounts 1.4 0.4
Stock-based compensation 3.5 4.0
Provision for deferred taxes (0.5) (0.5)
Changes in operating assets and liabilities:    
Accounts receivable (27.3) (13.0)
Inventories (19.9) 5.1
Prepaid expenses and other assets (3.1) (3.0)
Income taxes payable 4.5 7.2
Accounts payable 14.1 18.7
Accrued expenses, other current liabilities and other liabilities 18.0 5.1
Net cash provided by operating activities from continuing operations 41.5 64.9
Net cash provided by operating activities from discontinued operations 0.9 0.0
Net cash provided by operating activities 42.4 64.9
Cash flows from investing activities:    
Purchases of property, plant and equipment (1.2) (6.2)
Net cash used in investing activities (1.2) (6.2)
Cash flows from financing activities:    
Dividends paid (53.9) (257.1)
Proceeds from issuance of common stock 0.5 0.8
Payment of payroll taxes on stock-based compensation through shares withheld (0.4) (0.9)
Proceeds from the issuance of common stock from employee stock purchase plan 0.8 0.8
Repurchase of treasury shares (7.0) 0.0
Net cash used in financing activities (60.0) (256.4)
Effects of exchange rates on cash 0.0 (0.1)
Net decrease in cash (18.8) (197.8)
Cash and cash equivalents – beginning of period 97.2 295.4
Cash and cash equivalents – end of period 78.4 97.6
Right-of-use assets obtained in exchange for lease obligations, operating leases $ 27.6 $ 15.4