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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 295.1 $ 362.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 64.3 57.9
Amortization 1.4 1.8
Stock-based compensation 16.0 11.0
Loss on disposal of plant 11.6 0.0
Asset impairments 3.4 0.2
Pension settlement charge 0.0 1.2
Other non-cash items, net (12.4) (11.6)
Changes in assets and liabilities (72.1) (98.5)
Net cash provided by operating activities 307.3 324.3
Cash flows from investing activities:    
Capital expenditures (157.5) (131.9)
Other, net (6.7) (2.4)
Net cash used in investing activities (164.2) (134.3)
Cash flows from financing activities:    
Repayments of long-term debt (1.1) (1.1)
Debt issuance costs 0.0 (1.3)
Dividend payments (28.2) (26.5)
Proceeds from stock-based compensation awards 24.0 10.7
Employee stock purchase plan contributions 3.5 4.1
Shares purchased under share repurchase programs (233.5) (175.7)
Shares repurchased for employee tax withholdings (12.5) (19.1)
Net cash used in financing activities (247.8) (208.9)
Effect of exchange rates on cash 6.7 (25.2)
Net (decrease) increase in cash and cash equivalents (98.0) (44.1)
Cash, including cash equivalents at beginning of period 894.3 762.6
Cash, including cash equivalents at end of period $ 796.3 $ 718.5