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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES    
Net income $ 24.3 $ 10.3
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 8.3 8.2
Amortization expense 3.9 4.5
Deferred income tax benefit (2.0) (1.3)
Share-based compensation expense 1.2 1.8
Bad debt and returns expense 1.0 0.4
Other, net 0.2 0.2
Changes in operating assets and liabilities:    
Receivables (2.5) 10.1
Inventories (1.5) (29.0)
Accounts payable (6.6) 2.0
Employee compensation and benefits 0.5 (12.6)
Other assets and liabilities 4.3 (4.7)
Net cash provided by (used in) operating activities 31.1 (10.1)
INVESTING ACTIVITIES    
Purchases of property, plant and equipment (6.8) (5.0)
Investment in leased assets (0.2) (3.7)
Cash received from leased assets 0.2 0.1
Net cash used in investing activities (6.8) (8.6)
FINANCING ACTIVITIES    
Proceeds from borrowings 20.0 15.0
Repayments of borrowings (21.4) (0.9)
Change in finance lease obligations 0.2 0.0
Proceeds (repurchases) from exercise of stock options, net of employee tax withholdings obligations 0.8 (1.2)
Repurchases of common stock (5.0) 0.0
Dividends paid (4.9) (4.6)
Net cash (used in) provided by financing activities (10.3) 8.3
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.0 (2.8)
Net increase (decrease) in cash, cash equivalents and restricted cash 14.0 (13.2)
Cash, cash equivalents and restricted cash at beginning of period 77.4 123.6
Cash, cash equivalents and restricted cash at end of period 91.4 110.4
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for income taxes 0.8 1.3
Cash paid for interest 4.5 1.0
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 4.6 4.9
Financing cash flows from financing leases 0.0 0.1
Lease assets obtained in exchange for new operating lease liabilities 4.6 2.8
Supplemental non-cash investing and financing activities:    
Capital expenditures in accounts payable $ 1.5 $ 1.6