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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income from continuing operations $ 13.3 $ 21.8
Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities:    
Depreciation and amortization 1.1 0.9
Provision for credit losses 0.5 0.5
Stock-based compensation 0.6 1.0
Provision for deferred taxes 0.1 0.0
Changes in operating assets and liabilities:    
Accounts receivable (6.2) (12.6)
Inventories 13.3 (31.4)
Prepaid expenses and other assets 0.3 (0.9)
Income taxes payable 4.0 1.1
Accounts payable 6.7 8.6
Accrued expenses, other current liabilities and other liabilities (5.2) (3.0)
Net cash provided by (used in) operating activities from continuing operations 28.5 (14.0)
Net cash used in operating activities from discontinued operations (0.2) (0.1)
Net cash provided by (used in) operating activities 28.3 (14.1)
Cash flows from investing activities:    
Purchases of property, plant and equipment (0.7) (1.1)
Net cash used in investing activities (0.7) (1.1)
Cash flows from financing activities:    
Proceeds from short-term borrowings 0.0 57.1
Repayment of short-term borrowings (0.6) (36.6)
Dividends paid (7.7) (7.0)
Proceeds from issuance of common stock 0.1 0.7
Payment of payroll taxes on stock-based compensation through shares withheld (0.4) (0.4)
Proceeds from the issuance of common stock from employee stock purchase plan 0.7 0.6
Net cash (used in) provided by financing activities (7.9) 14.4
Effects of exchange rates on cash 0.0 0.0
Net increase (decrease) in cash 19.7 (0.8)
Cash and cash equivalents – beginning of period 28.5 15.4
Cash and cash equivalents – end of period $ 48.2 $ 14.6