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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net income $ 190.2 $ 172.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 81.2 70.8
Impairment charges 0.7 0.0
Loss on sale of assets (1.6) 0.9
Deferred income tax provision 1.8 0.1
Stock-based compensation expense 14.9 17.8
Pension and other postretirement expense 5.8 1.6
Pension contributions and other postretirement benefit payments 8.9 8.8
Operating Lease, Expense 18.7 0.0
Operating Lease, Payments (17.7) 0.0
Changes in operating assets and liabilities:    
Accounts receivable (35.9) (86.4)
Increase (Decrease) in Unbilled Receivables (36.6) (27.8)
Inventories 16.6 (79.9)
Accounts payable, trade (13.4) 8.4
Other accrued expenses 45.1 2.4
Income taxes (0.6) 3.8
Other, net 11.8 11.7
Net Cash Provided by Operating Activities 209.9 57.8
Investing Activities    
Capital expenditures 39.2 39.6
Acquisitions, net of cash received 83.0 0.0
Other (2.4) (3.6)
Net Cash Used by Investing Activities (119.8) (36.0)
Financing Activities    
Cash dividends paid to shareholders (42.6) (42.7)
Purchase of treasury shares (23.6) (49.6)
Net proceeds from common share activity 8.9 10.6
Payments Related to Tax Withholding for Share-based Compensation 8.1 5.0
Proceeds from Accounts Receivable Securitization 25.0 52.1
Repayments of Accounts Receivable Securitization 0.0 18.6
Proceeds from Issuance of Long-term Debt 292.0 130.0
Payments on long-term debt (310.4) (94.2)
Payments of Financing Costs 1.9 0.0
Short-term debt activity, net 3.8 26.3
Proceeds from (Payments for) Other Financing Activities 0.0 (1.0)
Net Cash Used by Financing Activities (56.9) 7.9
Effect of exchange rate changes on cash 1.1 (8.5)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 34.3 21.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 167.4 $ 146.6