XML 18 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 37.9 $ 43.5
Adjustments to reconcile net income to net cash used in operating activities:    
Income from equity method investments (3.5) (5.5)
Loss on assets held for sale 10.3 0.0
Restructuring charges, net of cash paid 0.6 0.0
Provision for bad debts 1.9 1.1
Unrealized gains on derivative contracts (0.1) (0.5)
Stock-based compensation expense 4.8 4.9
Depreciation and amortization 16.6 15.7
Deferred income taxes (2.1) (1.1)
Pension expense 2.1 1.9
Pension contributions (0.7) (1.1)
Other items, net 0.1 0.1
Changes in assets and liabilities, net of effects of divestitures:    
Accounts and notes receivable (44.5) (40.9)
Inventories (124.3) (101.2)
Other current assets (0.7) (4.3)
Accounts payable 77.5 47.3
Accrued expenses (35.2) (41.7)
Income taxes payable and receivable (22.3) (28.0)
Other (1.9) 2.2
Net cash used in operating activities (83.5) (107.6)
Cash flows from investing activities:    
Proceeds from the disposal of property, plant and equipment 0.1 0.1
Purchases of property, plant and equipment (22.7) (24.9)
Net cash used in investing activities (22.6) (24.8)
Cash flows from financing activities:    
Short-term borrowings, net (0.1) (0.8)
Asset securitization borrowings 0.0 150.0
Asset securitization payments (51.0) 0.0
Long-term debt payments (10.2) (0.2)
Borrowings from credit facility 790.0 583.0
Payments on credit facility (444.1) (497.5)
Proceeds from employee stock purchases 0.8 0.7
Repurchases of common stock (150.0) (75.0)
Repurchases of common stock to satisfy employee withholding tax obligations (18.1) (13.3)
Cash dividends paid (21.3) (18.5)
Net cash provided by financing activities 96.0 128.4
Increase in cash and cash equivalents (10.1) (4.0)
Effect of exchange rates on cash and cash equivalents (1.0) 2.6
Cash and cash equivalents, beginning of period 68.2 50.2
Cash and cash equivalents, end of period 57.1 48.8
Supplemental disclosures of cash flow information:    
Interest paid 6.0 2.4
Income taxes paid (net of refunds) $ 32.7 $ 36.7