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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Statement of Cash Flows [Abstract]          
Net (loss) earnings $ 114.4 $ 104.1 $ (86.2) [1] $ 61.0 [1]  
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities          
Depreciation and amortization [1]     65.7 82.5  
Share-based incentive compensation     14.6 23.0  
Profit sharing expense     10.0 12.9  
Provisions for bad debt     1.0 2.1  
Deferred taxes, net [1]     50.9 123.0  
Net gain on sale of business     (39.3) (2.3)  
Other non-cash items     19.0 6.7  
Changes in operating assets and liabilities:          
Trade receivables, net     (24.2) (58.3)  
Inventories     (92.6) (82.8)  
Accounts payable     58.7 145.4  
Other assets and liabilities     59.0 (171.9)  
Net cash provided by operating activities     36.6 141.3  
Cash flows from investing activities:          
Capital expenditures     (73.7) (93.2)  
Proceeds, net from sale of business and property and equipment     8.3 3.6  
Business acquired, net of cash acquired     0.0 (3.5)  
Investment in cost method investments     (7.5) 0.0  
Settlement of foreign currency forward contracts     (5.3) 11.3  
Other investing activities     (2.6) 0.0  
Net cash used in investing activities     (80.8) (81.8)  
Cash flows from financing activities:          
Net proceeds from borrowings     105.7 252.2  
Payments of debt extinguishment costs     0.4 0.0  
Dividends paid on common stock     (54.0) (61.8)  
Acquisition of common stock for tax withholding     (6.1) (21.5)  
Repurchases of common stock     (407.9) (305.3)  
Other financing activities     0.0 0.3  
Net cash used in financing activities [2]     (362.7) (136.1)  
Effect of foreign currency exchange rate changes on cash and cash equivalents     (7.0) (12.1)  
Cash and cash equivalents [2]     594.0 333.7 $ 333.7
Restricted cash and cash equivalents [2],[3]     0.0 52.9 52.9
Balance, beginning of period [2]     594.0 386.6 386.6
Net change during the period [2]     (413.9) (88.7)  
Cash and cash equivalents [2] 180.1 243.0 180.1 243.0 594.0
Restricted cash and cash equivalents [2],[3] 0.0 54.9 0.0 54.9 0.0
Balance, end of period [2] $ 180.1 $ 297.9 180.1 297.9 $ 594.0
Supplemental Cash Flow Information:          
Interest payments, net of amounts capitalized     95.6 107.0  
Income tax payments     97.1 92.6  
Payments related to the sale of Diversey and efforts to address related stranded costs     32.5 44.8  
Restructuring payments including associated costs     3.7 33.1  
Non-cash items:          
Transfers of shares of common stock from treasury for 2017 and 2016 profit-sharing contributions     $ 23.8 $ 22.3  
[1] For the six months ended June 30, 2017, there was a revision to net earnings from discontinued operations, net of tax, on the Condensed Consolidated Statement of Operations related to depreciation and amortization on Diversey assets held for sale. Refer to Note 4, "Discontinued Operations, Divestitures and Acquisitions", for additional information.
[2] Due to the adoption of ASU 2016-18, the Company now is required to include restricted cash as part of the change in the total cash balance. As a result, amounts which were previously classified as cash flows from financing activities have been reclassified as they are recognized in the total change in cash. Refer to Note 2, "Recently Adopted and Issued Accounting Standards," in the Notes to Condensed Consolidated Financial Statements for more information.
[3] Restricted cash and cash equivalents included compensating balance deposits related to certain short-term borrowings.