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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net Income $ 116.0 $ 84.0
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 43.0 42.3
Impairment charges 3.4 0.1
Loss on sale of assets 0.3 1.2
Deferred income tax benefit (2.0) (5.1)
Stock-based compensation expense 6.5 5.6
Pension and other postretirement income (1.0) (0.3)
Pension and other postretirement benefit contributions and payments 2.5 5.5
Changes in operating assets and liabilities:    
Accounts receivable (138.9) (47.6)
Unbilled receivables (2.5) (8.3)
Inventories (33.3) 0.3
Accounts payable, trade 19.9 0.0
Other accrued expenses 17.0 (34.3)
Income taxes 3.6 12.5
Other, net 2.8 11.3
Net Cash Provided by Operating Activities 31.7 56.2
Investing Activities    
Capital expenditures (29.4) (31.8)
Other (0.1) 0.0
Net Cash Used in Investing Activities (39.4) (31.6)
Financing Activities    
Cash dividends paid to shareholders (23.8) (22.9)
Purchase of treasury shares (26.3) (42.3)
Proceeds from exercise of stock options 14.1 7.5
Payments related to tax withholding for stock-based compensation (17.8) (10.2)
Accounts receivable facility borrowings 66.1 10.0
Accounts receivable facility payments (24.1) (10.0)
Proceeds from long-term debt 70.0 200.0
Payments on long-term debt (73.4) (37.9)
Short-term debt activity, net 8.8 72.3
Net Cash (Used in) Provided by Financing Activities (6.4) 166.5
Effect of exchange rate changes on cash (3.9) (13.3)
(Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (18.0) 177.8
Cash, cash equivalents and restricted cash at beginning of year 321.1 216.2
Cash, Cash Equivalents and Restricted Cash at End of Period 303.1 394.0
Payments for (Proceeds from) Investments 9.9 (0.2)
Bargain purchase price gain $ (0.6) $ 0.0