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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net Income $ 317.9 $ 314.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 122.0 126.5
Impairment charges 38.3 4.5
Loss on sale of assets 1.0 1.0
Loss on divestiture 2.1 0.0
Acquisition-related gain 0.0 (0.9)
Deferred income tax provision (benefit) 4.1 (6.4)
Stock-based compensation expense 22.3 15.6
Pension and other postretirement expense 11.9 2.9
Pension and other postretirement benefit contributions and payments (11.5) (18.2)
Changes in operating assets and liabilities:    
Accounts receivable (157.0) (127.5)
Unbilled receivables (5.2) 25.1
Inventories (147.1) (144.2)
Accounts payable, trade (12.6) 60.5
Other accrued expenses 45.8 50.2
Income taxes 3.2 (0.3)
Other, net (12.9) (19.0)
Net Cash Provided by Operating Activities 222.3 284.6
Investing Activities    
Capital expenditures (122.5) (103.6)
Acquisitions, net of cash acquired of $0.2 million (152.4) (7.2)
Proceeds from disposal of property, plant and equipment 3.3 0.0
Proceeds from divestitures, net of cash divested 1.0 0.0
Investments in short-term marketable securities, net 27.8 (5.4)
Other, net 0.8 0.3
Net Cash Used in Investing Activities (242.0) (115.9)
Financing Activities    
Cash dividends paid to shareholders (69.2) (69.5)
Purchase of treasury shares (193.3) (56.6)
Proceeds from exercise of stock options 4.2 25.4
Payments related to tax withholding for stock-based compensation (9.5) (23.5)
Borrowings on accounts receivable facility 197.0 186.1
Payments on accounts receivable facility (197.0) (244.1)
Proceeds from long-term debt 684.5 215.0
Payments on long-term debt (347.7) (224.4)
Deferred financing costs (3.5) 0.0
Short-term debt activity, net 17.0 (30.3)
Noncontrolling interest dividends paid (0.5) (0.5)
Other 6.5 0.0
Net Cash Provided by (Used in) Financing Activities 88.5 (222.4)
Effect of exchange rate changes on cash (25.1) (4.8)
Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 43.7 (58.5)
Cash, cash equivalents and restricted cash at beginning of year 257.9 321.1
Cash, Cash Equivalents and Restricted Cash at End of Period $ 301.6 $ 262.6