XML 23 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities      
Net income $ 351.6 $ 186.8 $ 490.9
Less: Income (loss) from discontinued operations 39.4 (3.9) 0.8
Less: (Loss) income attributable to noncontrolling interests (0.2) 2.3 2.4
Income from continuing operations, net of tax 312.4 188.4 487.7
Adjustments to income from continuing operations      
Depreciation and amortization 90.0 88.3 86.9
Equity-based compensation 15.7 14.0 13.1
Asbestos-related (benefit) costs, net (91.4) 3.9 32.8
Deferred income taxes 25.6 (0.2) (364.0)
Asbestos-related payments, net (24.6) (3.9) (25.4)
Contributions to postretirement plans (18.6) (12.6) (11.9)
Changes in assets and liabilities:      
Change in receivables (72.0) (45.1) (60.7)
Change in inventories 31.5 (3.1) (10.7)
Change in accounts payable 11.0 (5.8) 4.5
Change in accrued expenses (45.8) (5.2) 35.6
Change in accrued income taxes (7.4) (10.4) 28.6
Other, net 3.3 36.4 10.1
Net Cash – Operating activities 229.7 244.7 226.6
Investing Activities      
Capital expenditures (86.7) (118.8) (122.9)
Purchases of investments (140.1) (165.4) (240.2)
Maturities of investments 78.5 269.0 168.2
Acquisitions, net of cash acquired (351.0) (2.8) 0.7
Proceeds from sale of businesses and other assets 9.5 3.7 2.3
Proceeds from insurance recovery 4.2 0.0 0.0
Other, net 0.1 (0.2) 3.1
Net Cash – Investing activities (485.5) (14.5) (188.8)
Financing Activities      
Commercial paper, net borrowings (repayments) 94.5 (38.0) 25.4
Short-term revolving loans, borrowings 200.0 0.0 0.0
Short-term revolving loans, repayments (50.0) 0.0 0.0
Long-term debt, repaid (3.6) (1.7) (6.4)
Proceeds from issuance of common stock 6.2 15.1 34.8
Repurchase of common stock (84.0) (60.2) (87.9)
Excess tax benefit from equity compensation activity 3.4 10.4 8.7
Dividends paid (42.8) (40.7) (36.4)
Other, net (3.3) (1.5) 3.5
Net Cash – Financing activities 120.4 (116.6) (58.3)
Exchange rate effects on cash and cash equivalents (31.6) (31.2) (0.4)
Net Cash – Discontinued operations (1.3) (5.7) (16.3)
Net change in cash and cash equivalents (168.3) 76.7 (37.2)
Cash and cash equivalents – beginning of year 584.0 507.3 544.5
Cash paid (received) during the year for:      
Interest 4.3 1.1 0.9
Income taxes, net of refunds received $ 48.5 $ 70.0 $ 21.9