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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating    
Net income $ 68.5 $ 65.6
Non-cash items included in net income:    
Depreciation and amortization 52.3 43.4
Deferred income tax 1.5 (2.2)
Pension and other postretirement benefits 2.6 2.1
Stock-based compensation 5.6 4.0
Income from equity affiliates (2.0) (0.4)
Brazil tax assessment accruals, net 0.0 10.9
Cash dividends received from equity affiliates 2.7 2.6
Other items (4.7) 2.0
Changes in operating working capital, net of assets acquired:    
Accounts receivable (21.9) (4.6)
Inventories 1.7 (1.8)
Prepaid expenses 0.6 (0.4)
Accounts payable (0.3) 2.3
Accrued expenses and other current liabilities (1.2) (1.4)
Accrued income taxes 2.1 (3.2)
Net changes in operating working capital (19.0) (9.1)
Net cash provided by operations 107.5 118.9
Investing    
Capital spending (20.7) (20.0)
Capitalized software costs (2.8) (3.9)
Acquisitions, net of cash acquired (169.3) 0.0
Other investing 2.3 1.1
Net cash used in investing (190.5) (22.8)
Financing    
Cash dividends paid to SWM stockholders (41.2) (40.8)
Payments on current debt , net 0.0 (0.1)
Proceeds from issuances of long-term debt 212.7 0.1
Payments on long-term debt (124.6) (60.9)
Purchases of common stock (0.9) (1.0)
Net cash provided by (used in) financing 46.0 (102.7)
Effect of exchange rate changes on cash and cash equivalents 0.3 (2.3)
Decrease in cash and cash equivalents (36.7) (8.9)
Cash and cash equivalents at beginning of period 103.0 93.8
Cash and cash equivalents at end of period 66.3 84.9
Supplemental Cash Flow Disclosures    
Cash paid for interest, net 17.9 17.6
Cash paid for taxes, net 11.0 17.1
Change in capital spending in accounts payable and accrued liabilities $ 3.5 $ 2.9