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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Consolidated net income $ 280.6 $ 161.4 $ 198.0
Adjustments to reconcile consolidated net income to cash flows from operating activities:      
Depreciation and amortization 89.1 80.4 75.6
Stock-based compensation expense 17.2 16.0 9.6
Deferred income taxes (5.8) (22.5) (5.4)
Other non-cash expenses, net 26.9 27.3 10.1
Changes in operating assets and liabilities, net of acquisitions :      
Accounts receivable (95.3) 40.8 (5.0)
Inventories (67.0) (91.6) (60.2)
Accounts payable and accrued expenses 61.4 (2.4) 15.9
Income taxes payable (44.3) 42.9 13.1
Deferred revenue 20.3 16.9 7.3
Customer advances 18.5 51.7 4.2
Other changes in operating assets and liabilities (19.2) 11.3 (49.8)
Net cash provided by operating activities 282.4 332.2 213.4
Cash flows from investing activities:      
Purchases of short-term investments (148.0) (150.0) (6.4)
Maturity of short-term investments 98.2 106.1  
Purchase of investments held to maturity (0.5) (1.2)  
Cash paid for acquisitions, net of cash acquired (65.0) (59.2) (90.0)
Purchases of property, plant and equipment (92.0) (97.2) (73.0)
Proceeds from sales of property, plant and equipment 4.9 0.2 11.0
Net proceeds from cross-currency swap agreements 10.0 8.6  
Net cash used in investing activities (192.4) (192.7) (158.4)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 492.8   597.9
Repayment of long-term debt (0.8)   (15.0)
Repayments of revolving lines of credit   (305.1) (361.9)
Proceeds from revolving lines of credit   297.5 250.6
Repayment of other debt, net (2.3) (0.7) (4.6)
Payment of deferred financing costs (0.1) (0.1) (4.4)
Proceeds from issuance of common stock, net 7.0 3.3 10.9
Payment of contingent consideration (0.4) (7.5) (6.2)
Payment of dividends to common stockholders (24.2) (24.6) (25.0)
Repurchase of common stock (153.3) (123.2) (142.3)
Cash payments to noncontrolling interest   (1.2)  
Net cash provided by (used in) financing activities 318.7 (161.6) 300.0
Effect of exchange rate changes on cash, cash equivalents and restricted cash (22.5) 25.7 0.6
Net change in cash, cash equivalents and restricted cash 386.2 3.6 355.6
Cash, cash equivalents and restricted cash at beginning of year 685.5 681.9 326.3
Cash, cash equivalents and restricted cash at end of year 1,071.7 685.5 681.9
Supplemental cash flow information      
Cash paid for interest 19.6 28.7 16.0
Cash paid for taxes 145.5 43.0 61.3
Restricted cash period beginning balance 3.7 3.6 3.9
Restricted cash period ending balance $ 3.5 $ 3.7 $ 3.6