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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net Income $ 381.5 $ 292.4 $ 374.7
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 167.8 167.1 160.6
Impairment charges 4.5 0.4 2.6
Loss (gain) on sale of assets 1.3 0.9 (4.0)
Acquisition-related gain (0.9) (11.1) 0.0
Deferred income tax benefit (15.1) (23.2) (8.9)
Stock-based compensation expense 20.2 23.2 27.1
Pension and other postretirement (income) expense (6.6) 17.4 2.2
Pension and other postretirement benefit contributions and payments (24.5) (20.6) (43.4)
Changes in operating assets and liabilities:      
Accounts receivable (55.8) (20.7) 24.1
Unbilled receivables 6.2 18.5 (12.6)
Inventories (215.8) 27.4 50.7
Accounts payable, trade 76.7 22.6 19.9
Other accrued expenses 55.2 55.1 (26.8)
Income taxes 8.5 8.5 (14.2)
Other, net (15.9) 19.7 (1.9)
Net Cash Provided by Operating Activities 387.3 577.6 550.1
Investing Activities      
Capital expenditures (148.3) (121.6) (140.6)
Acquisitions, net of cash acquired of $5.9 million in 2019 (7.5) (24.0) (226.5)
Proceeds from disposals of property, plant and equipment 0.6 1.5 6.3
Investments in short-term marketable securities, net (18.0) (9.4) (4.1)
Other (0.6) 0.0 0.0
Net Cash Used in Investing Activities (173.8) (153.5) (364.9)
Financing Activities      
Cash dividends paid to shareholders (92.2) (87.0) (84.9)
Purchase of treasury shares (93.0) (49.3) (62.7)
Proceeds from exercise of stock options 26.0 37.4 27.5
Payments related to tax withholding for stock-based compensation (23.8) (16.0) (15.4)
Proceeds from long-term debt 325.0 562.0 662.8
Payments on long-term debt (338.3) (757.7) (633.8)
Deferred financing costs 0.0 (1.7) (1.9)
Accounts receivable facility financing borrowings 310.9 144.0 25.0
Accounts receivable facility financing payments (368.9) (186.0) 0.0
Short-term debt activity, net (14.5) 40.1 (17.0)
Noncontrolling interest dividends paid (0.5) (16.9) (0.3)
Net Cash Used in Financing Activities (269.3) (331.1) (100.7)
Effect of exchange rate changes on cash (7.4) 11.9 (1.4)
(Decrease) Increase In Cash, Cash Equivalents and Restricted Cash (63.2) 104.9 83.1
Cash, cash equivalents and restricted cash at beginning of year 321.1 216.2 133.1
Cash, Cash Equivalents and Restricted Cash at End of Year $ 257.9 $ 321.1 $ 216.2