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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net Income $ 223.2 $ 145.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 85.2 84.0
Impairment charges 4.5 0.1
Loss on sale of assets 0.7 1.6
Deferred income tax benefit (5.8) (7.1)
Stock-based compensation expense 12.5 11.4
Pension and other postretirement benefit expense 0.5 8.2
Pension and other postretirement benefit contributions and payments 15.0 8.6
Changes in operating assets and liabilities:    
Accounts receivable (125.8) (8.4)
Unbilled receivables 10.4 3.0
Inventories (81.4) 41.3
Accounts payable, trade 41.2 (28.9)
Other accrued expenses 30.8 5.3
Income taxes (1.6) 30.9
Other, net 0.0 25.0
Net Cash Provided by Operating Activities 178.8 303.6
Investing Activities    
Capital expenditures (60.5) (56.5)
Other 0.3 0.1
Net Cash Used in Investing Activities (73.9) (64.7)
Financing Activities    
Cash dividends paid to shareholders (46.7) (43.9)
Purchase of treasury shares (26.3) (42.3)
Proceeds from exercise of stock options 25.4 7.5
Payments related to tax withholding for stock-based compensation (23.5) (10.4)
Accounts receivable facility borrowings 66.1 10.0
Accounts receivable facility payments (124.1) (110.0)
Proceeds from long-term debt 135.0 550.0
Payments on long-term debt (141.4) (417.1)
Short-term debt activity, net 16.6 26.5
Net Cash Used in Financing Activities (118.9) (31.3)
Effect of exchange rate changes on cash (0.8) (7.7)
(Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (14.8) 199.9
Cash, cash equivalents and restricted cash at beginning of year 321.1 216.2
Cash, Cash Equivalents and Restricted Cash at End of Period 306.3 416.1
Payments for (Proceeds from) Investments 13.8 1.6
Bargain purchase price gain (0.6) 0.0
Payments to Acquire Businesses, Net of Cash Acquired 0.1 (6.7)
Payments of Financing Costs 0.0 (1.6)
Noncontrolling Interest [Member]    
Operating Activities    
Net Income $ 5.1 $ 3.2