XML 22 R5.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Statement of Cash Flows [Abstract]      
Net (loss) income $ (229.6) $ 1.5 $ 167.0
Adjustments to reconcile net (loss) income to net cash provided from operating activities:      
Depreciation and amortization 123.6 123.9 121.5
LIFO decrement 52.2 1.8 0.0
Goodwill impairment charge 52.8 34.6 0.0
Non-cash inventory write-downs from restructuring 4.2 29.3 0.0
Non-cash restructuring and asset impairment charges 16.2 56.4 0.0
Debt extinguishment losses, net 8.2 (0.0) 0.0
Deferred income taxes (33.6) (0.4) 16.5
Net pension expense 24.6 15.3 11.6
Share-based compensation expense 10.4 10.9 17.6
Net loss on disposal of property, plant, and equipment and assets held for sale 0.3 0.2 1.2
Gain on insurance recovery 0.0 0.0 (11.4)
Changes in working capital and other:      
Accounts receivable (14.9) 90.3 (5.3)
Inventories 238.5 29.5 (94.0)
Other current assets (33.9) (20.5) 6.8
Accounts payable 22.4 (109.9) 20.1
Accrued liabilities 33.8 (18.1) (4.9)
Pension plan contributions (19.9) (6.5) (5.5)
Other postretirement plan contributions (2.7) (3.5) (3.1)
Other, net (2.6) (3.0) (5.7)
Net cash provided from operating activities 250.0 231.8 232.4
INVESTING ACTIVITIES      
Purchases of property, plant, equipment and software (100.5) (171.4) (180.3)
Acquisition of business, net of cash acquired 0.0 0.0 (79.0)
Proceeds from disposals of property, plant and equipment and assets held for sale 1.6 0.2 0.4
Proceeds from insurance recovery 0.0 0.0 11.4
Proceeds from divestiture of business 20.0 0.0 0.0
Proceeds from sales and maturities of marketable securities 0.0 0.0 2.9
Net cash used for investing activities (78.9) (171.2) (244.6)
FINANCING ACTIVITIES      
Credit agreement borrowings 0.0 351.1 163.9
Credit agreement repayments 0.0 (181.1) (163.9)
Net change in short-term credit agreement borrowings (170.0) (19.7) 19.7
Proceeds from issuance of long-term debt, net of offering costs 395.5 0.0 0.0
Payments on long-term debt (250.0) 0.0 0.0
Payments for debt extinguishment costs, net (8.2) 0.0 0.0
Payments for debt issue costs (2.5) 0.0 0.0
Dividends paid (39.1) (38.8) (38.6)
Proceeds from stock options exercised 0.5 4.3 3.9
Withholding tax payments on share-based compensation awards (2.3) (8.0) (4.4)
Net cash (used for) provided from financing activities (76.1) 107.8 (19.4)
Effect of exchange rate changes on cash and cash equivalents (0.7) (2.3) 2.4
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 94.3 166.1 (29.2)
Cash and cash equivalents at beginning of year 193.1 27.0 56.2
Cash and cash equivalents at end of year $ 287.4 $ 193.1 $ 27.0