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Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Operating activities      
Net income $ 530.1 $ 617.0 $ 354.9
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation expense 251.6 230.6 214.1
Amortization expense 0.1 0.4 0.2
Amortization of deferred financing fees 3.5 17.9 3.4
Accretion of customer supply agreement 4.3 4.1 2.6
Employee stock compensation expense 36.1 27.4 22.1
Loss (gain) from derivative instruments 8.1 (7.2) (0.9)
Loss (gain) from foreign currency transactions 1.6 (0.3) (8.1)
Loss on impairment and disposition of assets 4.9 1.8 9.5
Deferred taxes 86.1 (38.0) 52.4
Pension and other post-retirement benefits, net (20.0) (33.4) (34.7)
Grant liability amortization (16.2) (21.6) (19.0)
Equity in net income of affiliates 0.2 (0.6) (0.3)
Increase (Decrease) in Forward Position 40.7 (170.9) 0.0
Changes in assets and liabilities      
Accounts receivable, net 12.8 (47.9) (48.5)
Inventory, net (95.4) (61.3) 319.6
Increase (Decrease) in Contract with Customer, Asset (5.2) (8.5)  
Accounts payable and accrued liabilities 34.6 244.5 160.3
Profit sharing/deferred compensation 16.0 (40.9) 7.6
Advance payments 120.8 (98.3) (209.6)
Income taxes receivable/payable (59.6) (28.4) 25.7
Increase (Decrease) in Contract with Customer, Liability (13.0) 208.3  
Deferred revenue and other deferred credits 6.2 16.9 (231.2)
Other (25.6) (41.7) (46.4)
Net cash provided by operating activities 922.7 769.9 573.7
Investing activities      
Purchase of property, plant and equipment (232.2) (271.2) (273.1)
Proceeds from sale of assets 0.2 3.4 0.4
Payments to Acquire Interest in Subsidiaries and Affiliates (7.9)    
Other Investing Activities 7.7 0.0 0.1
Payments for (Proceeds from) Other Investing Activities 0.0 0.0 0.1
Net cash used in investing activities (239.9) (267.8) (272.8)
Financing activities      
Proceeds from Issuance of Senior Long-term Debt 250.0 1,300.0 0.0
Proceeds from revolving credit facility 900.0 0.0 0.0
Payments on revolving credit facility 100.0 0.0 0.0
Principal payments of debt 13.4 6.7 2.8
Repayments of Debt (16.6) (256.3) (25.0)
Early Repayment of Senior Debt 0.0 300.0 0.0
Payment, Tax Withholding, Share-based Payment Arrangement (12.9) (15.6) (14.2)
Proceeds from Stock Plans 2.6 2.1 0.0
Debt issuance and financing costs 0.0 23.2 0.9
Proceeds from Other Debt 0.0 0.0 7.6
Payments for Repurchase of Common Stock (75.8) (805.8) (496.3)
Payments of Dividends (50.4) (48.0) (47.1)
Proceeds from (Payments for) Other Financing Activities 0.9    
Net cash provided by (used in) financing activities 884.4 (153.5) (578.7)
Effect of exchange rate changes on cash and cash equivalents 5.9 0.0 5.6
Net increase (decrease) in cash, cash equivalents, and restricted cash for the period 1,573.1 348.6 (272.2)
Cash, cash equivalents, and restricted cash, end of period 2,350.5 773.6 423.3
Restricted Cash, Current 0.3 0.3 2.2
Restricted Cash and Investments, Noncurrent 16.4 20.2 20.0
Supplemental information      
Interest paid 93.2 70.4 43.6
Income taxes paid 105.0 202.3 101.9
Property acquired through capital leases 120.3 26.8 29.3
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 2,367.2 $ 794.1 $ 445.5