XML 27 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income from continuing operations $ 70.7 $ 78.1 $ 70.1
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:      
Depreciation and amortization 6.4 3.9 3.7
Provision (benefit) for deferred income taxes 2.0 0.0 (3.2)
Provision for credit losses 3.2 1.6 2.8
Compensation expense related to equity compensation plans 3.0 4.5 2.9
Gain on dispositions and abandonment 0.0 (0.1) 0.0
Changes in operating assets and liabilities:      
Accounts receivable (2.6) (3.3) (7.4)
Inventories 33.3 (7.0) (40.5)
Prepaid expenses and other assets (0.8) (1.8) 0.4
Income taxes (1.1) (7.1) 3.9
Accounts payable 1.2 (17.0) 19.7
Accrued expenses, other current liabilities and other liabilities (3.3) (2.0) (4.8)
Net cash provided by operating activities from continuing operations 112.0 49.8 47.6
Net cash provided by operating activities from discontinued operations 0.0 0.4 2.2
Net cash provided by operating activities 112.0 50.2 49.8
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (3.9) (7.4) (3.4)
Proceeds from disposals of property, plant and equipment 0.0 0.3 0.0
Purchase of Indoff LLC, net of cash acquired (72.3) 0.0 0.0
Net cash used in investing activities from continuing operations (76.2) (7.1) (3.4)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Dividends paid (30.6) (27.6) (62.5)
Borrowings under credit facility 50.6 119.0 45.2
Repayments under credit facility (51.2) (122.9) (40.7)
Proceeds from issuance of common stock 0.6 0.8 4.9
Payment of payroll taxes on stock-based compensation through shares withheld (0.5) (0.4) (3.0)
Proceeds from the issuance of common stock from employee stock purchase plans 1.4 1.4 1.1
Net cash used in financing activities from continuing operations (29.7) (29.7) (55.0)
EFFECTS OF EXCHANGE RATES ON CASH (0.2) (0.3) 0.0
NET INCREASE (DECREASE) IN CASH 5.9 13.1 (8.6)
CASH AND CASH EQUIVALENTS – BEGINNING OF YEAR 28.5 15.4 24.0
CASH AND CASH EQUIVALENTS – END OF YEAR 34.4 28.5 15.4
Supplemental disclosures:      
Interest paid 1.1 1.2 0.3
Income taxes paid 23.7 32.8 27.0
Right-of-use assets obtained in exchange for lease obligations:      
ROU assets obtained in exchange for operating and finance lease obligations $ 6.3 $ 34.5 $ 2.6