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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net income $ 107.5 $ 69.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 30.9 30.9
Deferred taxes 0.6 8.0
Non-cash movements on defined benefit pension plans (1.9) (2.4)
Stock option compensation 4.7 4.6
Changes in assets and liabilities, net of effects of acquired and divested companies:    
Trade and other accounts receivable (70.1) (86.5)
Inventories (112.6) (57.1)
Prepaid expenses 11.2 2.4
Accounts payable and accrued liabilities 38.9 58.6
Plant closure provisions 0.3 (1.5)
Accrued income taxes (4.0) (3.8)
Unrecognized tax benefits   0.4
Other assets and liabilities (2.2) 1.6
Net cash provided by operating activities 3.3 24.4
Cash Flows from Investing Activities    
Capital expenditures (27.1) (27.4)
Proceeds on disposal of property, plant and equipment 0.1 0.4
Net cash used in investing activities (27.0) (27.0)
Cash Flows from Financing Activities    
Non-controlling interest 1.9 0.1
Proceeds from revolving credit facility 0.0 0.0
Repayments of revolving credit facility 0.0 0.0
Repayments of finance leases (0.1) (0.5)
Dividend paid (15.6) (14.0)
Issue of treasury stock 2.1 2.0
Repurchase of common stock (5.0) (0.8)
Net cash used in financing activities (16.7) (13.2)
Effect of foreign currency exchange rate changes on cash (0.9) (0.3)
Net change in cash and cash equivalents (41.3) (16.1)
Cash and cash equivalents at beginning of period 141.8 105.3
Cash and cash equivalents at end of period $ 100.5 $ 89.2