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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended 18 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2019
Cash flows from operating activities:        
Net income $ 464.0 $ 356.3 $ 408.7  
Adjustments to reconcile net income to net cash provided by operating activities:        
Loss on sale of business 0.0 0.0 10.6  
Insurance recoveries received for property damage incurred from natural disaster 0.0 0.0 (79.6)  
Income from equity method investments (11.8) (15.6) (13.4)  
Dividends from affiliates 9.1 12.3 12.3  
Restructuring charges, net of cash paid 1.1 3.4 6.8  
Provision for credit losses 4.9 8.1 4.5  
Unrealized (gains) losses on derivative contracts (0.6) 0.3 (0.5)  
Stock-based compensation expense 24.3 24.3 21.3  
Depreciation and amortization 72.4 72.6 71.1  
Deferred income taxes (5.4) 7.2 16.6  
Pension expense 11.3 10.5 106.1  
Pension contributions (1.5) (3.3) (1.8)  
Other items, net 0.3 0.2 (0.4)  
Changes in assets and liabilities:        
Accounts and notes receivable (68.8) 26.5 (33.1)  
Inventories (71.0) 110.3 (63.9)  
Other current assets (19.2) 5.3 2.8  
Accounts payable 55.2 (31.7) (56.1)  
Accrued expenses 64.2 35.4 (5.6)  
Income taxes payable and receivable, net (26.5) (5.7) (1.9)  
Leases, net 0.2 2.1 2.1  
Other, net 13.3 (6.1) (10.5)  
Net cash provided by operating activities 515.5 612.4 396.1  
Cash flows from investing activities:        
Proceeds from the disposal of property, plant and equipment 0.9 1.0 1.3  
Purchases of property, plant and equipment (106.8) (78.5) (105.6)  
Proceeds from (purchases of) short-term investments, net (0.5) (2.2) (2.9)  
Net proceeds from sale of business 0.0 0.0 43.5  
Insurance recoveries received for property damage incurred from natural disaster 0.0 0.0 79.6  
Net cash used in investing activities (106.4) (79.7) 15.9  
Cash flows from financing activities:        
Short-term debt payments 0.0 (4.6) (5.3)  
Short-term debt borrowings 0.0 4.6 5.3  
Asset securitization borrowings 627.0 91.0 184.5  
Asset securitization payments (377.0) (376.0) (167.5)  
Long-term debt payments (12.3) (10.8) (6.4)  
Long-term debt borrowings 0.0 600.0 0.0  
Borrowings from credit facility 1,162.5 1,576.0 2,367.0  
Payments on credit facility (1,156.0) (2,081.5) (2,269.5)  
Payments of deferred financing costs 2.4 (7.5) (0.3)  
Proceeds from employee stock purchases 3.3 3.0 3.3  
Repurchases of common stock (600.0) (100.0) (400.0)  
Repurchases of common stock to satisfy employee withholding tax obligations (22.1) (17.9) (24.0)  
Cash dividends paid (126.5) (118.1) (110.5)  
Net cash used in financing activities (498.7) (441.8) (423.4)  
(Decrease) increase in cash and cash equivalents (89.6) 90.9 (11.4)  
Effect of exchange rates on cash and cash equivalents (3.3) (4.3) 2.4  
Cash and cash equivalents, beginning of year 123.9 37.3 46.3  
Cash and cash equivalents, end of year 31.0 123.9 37.3 $ 37.3
Cash paid during the period for:        
Interest paid 23.8 25.3 46.8  
Income taxes paid (net of refunds) 128.5 90.3 83.0  
Insurance recoveries received $ (6.6) $ 0.0 $ (243.2) $ (367.5)