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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 305.7 $ 277.8 $ 186.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Income from equity method investments (18.4) (18.4) (13.4)
Dividends from affiliates 14.7 14.9 11.0
Restructuring expenses, net of cash paid 0.8 (0.8) 0.0
Goodwill impairment 0.0 0.0 5.5
Impairment of assets 0.0 0.0 (44.5)
Provision for bad debts 3.9 2.4 2.8
Unrealized (gains) loss, net on derivative contracts (2.0) (0.7) 0.8
Stock-based compensation expense 24.9 31.7 26.6
Depreciation and amortization 64.6 58.1 62.8
Deferred income taxes 43.3 (4.0) (21.3)
Pension expense 5.3 37.7 10.6
Pension contributions (3.5) (53.9) (3.9)
Other items, net 1.3 0.9 1.0
Changes in assets and liabilities, net of effects of acquisitions and divestitures:      
Accounts and notes receivable (28.4) (50.6) (23.5)
Inventories (56.4) 0.3 28.8
Other current assets (6.1) 0.1 (1.6)
Accounts payable (18.5) 40.1 (2.9)
Accrued expenses 0.3 36.2 4.2
Income taxes payable and receivable (6.7) (0.1) 33.3
Other, net 0.3 2.2 1.7
Net cash provided by operating activities 325.1 373.9 353.6
Cash flows from investing activities:      
Proceeds from the disposal of property, plant and equipment 0.2 0.2 0.1
Purchases of property, plant and equipment (98.3) (84.3) (69.9)
Net cash used in investing activities (98.1) (84.1) (69.8)
Cash flows from financing activities:      
Short-term borrowings, net (1.5) (2.4) (1.7)
Asset securitization borrowings 315.0 145.0 40.0
Asset securitization payments (89.0) (295.0) (60.0)
Long-term debt borrowings 0.0 350.0 0.0
Long-term debt payments (200.9) (58.8) (24.0)
Borrowings from credit facility 2,376.5 2,336.5 1,671.0
Payments on credit facility (2,265.5) (2,346.0) (1,807.5)
Payments of deferred financing costs (0.2) (4.2) 0.0
Proceeds from employee stock purchases 3.1 2.6 2.4
Repurchases of common stock (250.0) (300.0) 0.0
Repurchases of common stock to satisfy employee withholding tax obligations (26.1) (33.3) (32.0)
Cash dividends paid (79.7) (69.0) (59.3)
Net cash used in financing activities (218.3) (274.6) (271.1)
Increase (decrease) in cash and cash equivalents 8.7 15.2 12.7
Effect of exchange rates on cash and cash equivalents 9.3 (3.9) (11.3)
Cash and cash equivalents, beginning of year 50.2 38.9 37.5
Cash and cash equivalents, end of year 68.2 50.2 38.9
Cash paid during the year for:      
Interest, net 32.4 26.3 23.7
Income taxes (net of refunds) $ 119.3 $ 127.4 $ 83.2