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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net income $ 55.6 $ 26.9
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 17.2 16.4
Amortization expense 7.5 8.4
Deferred income tax benefit (5.6) (4.4)
Share-based compensation expense 3.9 2.7
Bad debt and returns expense 1.7 0.7
Gain on sale of assets 0.0 (3.7)
Other, net 0.4 0.5
Changes in operating assets and liabilities:    
Receivables (10.9) (9.5)
Inventories (1.3) (44.7)
Accounts payable (10.5) 6.5
Employee compensation and benefits 7.0 (8.7)
Other assets and liabilities 5.2 (14.7)
Net cash provided by (used in) operating activities 70.2 (23.6)
INVESTING ACTIVITIES    
Purchases of property, plant and equipment (11.8) (10.5)
Proceeds from sale of assets, net of cash divested 0.0 4.1
Investment in leased assets (0.5) (4.0)
Cash received from leased assets 0.3 0.3
Net cash used in investing activities (12.0) (10.1)
FINANCING ACTIVITIES    
Proceeds from borrowings 20.0 15.0
Repayments of borrowings (42.5) (16.6)
Proceeds (repurchases) from exercise of stock options, net of employee tax withholdings obligations 4.2 (1.4)
Repurchases of common stock (10.0) 0.0
Dividends paid (9.8) (9.2)
Net cash used in financing activities (38.1) (12.2)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1.7) (3.9)
Net increase (decrease) in cash, cash equivalents and restricted cash 18.4 (49.8)
Cash, cash equivalents and restricted cash at beginning of period 77.4 123.6
Cash, cash equivalents and restricted cash at end of period 95.8 73.8
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for income taxes 12.3 10.7
Cash paid for interest 10.4 2.5
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 9.2 9.5
Lease assets obtained in exchange for new operating lease liabilities 7.4 6.5
Lease assets obtained in exchange for new financing lease liabilities 0.4 0.0
Supplemental non-cash investing and financing activities:    
Capital expenditures in accounts payable $ 0.7 $ 0.9