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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities    
Net income $ 43.3 $ 47.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization [1] 24.5 18.9
Adjustment to fair value of contingent consideration 0.0 (4.0)
Deferred taxes 3.5 1.1
Loss on disposal of subsidiary 1.0 1.4
Foreign exchange loss on liquidation of subsidiary 1.8 0.0
Cash contributions to defined benefit pension plans (0.5) (0.6)
Non-cash movements on defined benefit pension plans (1.8) (3.2)
Stock option compensation 2.2 1.9
Changes in assets and liabilities, net of effects of acquired and divested companies:    
Trade and other accounts receivable (82.1) 0.9
Inventories (39.3) 5.7
Prepaid expenses 1.2 0.9
Accounts payable and accrued liabilities 39.8 (14.1)
Accrued income taxes (4.3) 1.6
Plant closure provisions 2.0 0.9
Unrecognized tax benefits 0.0 (0.4)
Other non-current assets and liabilities (2.2) (1.7)
Net cash (used in)/provided by operating activities (10.9) 57.1
Cash Flows from Investing Activities    
Capital expenditures (13.1) (7.5)
Business combinations, net of cash acquired 0.0 1.8
Sale of short-term investments 0.0 4.7
Net cash used in investing activities (13.1) (1.0)
Cash Flows from Financing Activities    
Proceeds from revolving credit facility 10.0 28.0
Repayments of revolving credit facility (30.0) (7.0)
Repayments of finance leases (1.1) (0.4)
Payment for acquisition-related contingent consideration 0.0 (44.0)
Dividend paid (9.2) (8.1)
Issue of treasury stock 1.0 0.3
Repurchase of common stock (1.0) (8.2)
Net cash used in financing activities (30.3) (39.4)
Effect of foreign currency exchange rate changes on cash 1.2 (0.4)
Net change in cash and cash equivalents (53.1) 16.3
Cash and cash equivalents at beginning of period 101.9 136.9
Cash and cash equivalents at end of period $ 48.8 $ 153.2
[1] Amortization of deferred finance costs of $0.3 million (2016 - $0.2 million) are included in depreciation and amortization in the consolidated statement of cash flow but in interest expense in the consolidated statement of income.