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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Payments to Acquire Marketable Securities $ 10.4 $ 0.1
Proceeds from (Payments to) Noncontrolling Interests (15.8) (0.3)
Operating Activities    
Net income 237.1 256.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 125.2 120.4
Impairment charges 0.1 0.8
Loss on sale of assets 1.7 (1.0)
Deferred income tax provision (6.7) 1.7
Stock-based compensation expense 19.2 20.7
Pension and other postretirement expense (3.9) (23.2)
Pension contributions and other postretirement benefit payments 12.9 37.1
Changes in operating assets and liabilities:    
Accounts receivable (27.6) (6.4)
Increase (Decrease) in Contract with Customer, Asset 11.9 35.0
Inventories 47.9 37.8
Accounts payable, trade (2.8) 7.4
Other accrued expenses (49.4) 28.7
Income taxes (12.4) (9.0)
Other, net 24.4 (0.1)
Net Cash Provided by Operating Activities 457.2 354.8
Investing Activities    
Capital expenditures 85.7 82.9
Acquisitions, net of cash received 6.7 82.7
Other 1.4 3.3
Net Cash Used by Investing Activities (101.4) (162.2)
Financing Activities    
Cash dividends paid to shareholders (65.0) (63.8)
Purchase of treasury shares (42.3) (56.1)
Assets for Plan Benefits, Defined Benefit Plan 18.2 9.9
Payment, Tax Withholding, Share-based Payment Arrangement 12.0 9.3
Proceeds from Accounts Receivable Securitization 10.0 25.0
Repayments of Accounts Receivable Securitization 110.0 0.0
Proceeds from Issuance of Long-term Debt 550.0 451.0
Payments on long-term debt (635.2) (481.7)
Payments of Financing Costs 1.6 1.9
Short-term debt activity, net 46.0 (10.2)
Net Cash Used by Financing Activities (257.7) (137.4)
Effect of exchange rate changes on cash (0.3) (6.4)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 97.8 48.8
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 314.0 $ 181.9