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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 17 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ 131.7 $ 114.7 $ 244.6 $ 294.7  
Adjustments to reconcile net income to net cash provided by operating activities:          
Loss on sale of business     0.0 9.1  
Net loss from natural disaster     0.0 (11.6)  
Income from equity method investments (4.0) (3.3) (11.2) (10.5)  
Dividends from affiliates     9.3 9.3  
Restructuring charges, net of cash paid     3.5 6.0  
Provision for credit losses     5.0 4.0  
Unrealized losses (gains), net on derivative contracts     0.5 (0.1)  
Stock-based compensation expense     18.4 15.6  
Depreciation and amortization     55.4 53.1  
Deferred income taxes     5.6 17.0  
Pension expense     7.7 65.9  
Pension contributions     (2.8) (1.7)  
Other items, net     2.0 (0.4)  
Changes in assets and liabilities, net of effects of divestitures:          
Accounts and notes receivable     (69.3) (178.2)  
Inventories     137.6 (107.0)  
Other current assets     2.0 1.5  
Accounts payable     (2.4) (24.5)  
Accrued expenses     29.6 7.6  
Income taxes payable / receivable     6.8 (8.2)  
Other, net     3.9 (17.1)  
Net cash provided by operating activities     446.2 124.5  
Cash flows from investing activities:          
Proceeds from the disposal of property, plant and equipment     0.7 1.2  
Purchases of property, plant and equipment     (55.9) (77.0)  
Net proceeds from sale of business and related property     0.0 43.5  
Payments to Acquire Short-term Investments     (1.3) (2.4)  
Insurance recoveries received for property damage incurred from natural disaster     0.0 11.6  
Net cash used in investing activities     (56.5) (23.1)  
Cash flows from financing activities:          
Short-term debt payments     (4.6) (5.3)  
Proceeds from facilities     4.6 5.3  
Proceeds from Other Debt     91.0 155.5  
Asset securitization payments     (376.0) (58.0)  
Long-term debt borrowings     600.0 0.0  
Long-term debt payments     (5.4) (35.0)  
Borrowings from credit facility     1,509.5 1,938.5  
Payments on credit facility     (1,980.5) (1,608.5)  
Payments of Financing Costs     (7.1) 0.0  
Proceeds from employee stock purchases     2.2 2.5  
Repurchases of common stock     (100.0) (400.0)  
Repurchases of common stock to satisfy employee withholding tax obligations     (10.1) (16.9)  
Cash dividends paid     (88.6) (80.9)  
Net cash provided by financing activities     (365.0) (102.8)  
Increase in cash and cash equivalents     24.7 (1.4)  
Effect of exchange rates on cash and cash equivalents     (7.0) 1.2  
Cash and cash equivalents, beginning of period     37.3 46.3  
Cash and cash equivalents, end of period 55.0 46.1 55.0 46.1 $ 37.3
Supplemental disclosures of cash flow information:          
Interest paid     19.0 31.5  
Income taxes paid (net of refunds)     55.1 78.7  
Insurance recoveries received     0.0 138.0 $ 367.5
Retained Earnings [Member]          
Cash flows from operating activities:          
Net income $ 131.7 $ 114.7 $ 244.6 $ 294.7