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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Income from continuing operations, net of tax $ 314.8 $ 68.5 $ 323.4
Adjustments to income from continuing operations:      
Depreciation and amortization 113.1 112.2 113.4
Equity-based compensation 16.5 13.4 15.7
Asbestos-related (benefit) costs, net (74.4) 66.3 (20.2)
Pension settlement charges 0.0 137.0 0.0
Deferred income tax expense (benefit) 115.7 (43.9) 30.9
Asset impairment charges 0.0 16.3 1.0
Other non-cash charges, net 21.3 43.0 38.8
Asbestos-related payments, net (14.9) (9.8) (21.6)
Contributions to postretirement plans (10.5) (18.0) (22.9)
Contribution to divest asbestos-related assets and liabilities (398.0) 0.0 0.0
Changes in assets and liabilities:      
Change in receivables (62.2) 83.3 (40.6)
Change in inventories (82.7) 36.5 (0.6)
Change in contract assets (2.5) (1.0) 2.7
Change in contract liabilities (3.6) (1.9) (5.1)
Change in accounts payable 77.6 (34.7) (1.9)
Change in accrued expenses 15.8 4.2 (14.7)
Change in income taxes 8.2 (6.2) (9.6)
Other, net (42.6) (29.3) (31.0)
Net Cash – Operating activities (8.4) 435.9 357.7
Investing Activities      
Capital expenditures (88.4) (63.7) (91.4)
Proceeds from sale of long-lived assets 8.0 1.7 0.9
Acquisitions, net of cash acquired 0.0 (4.7) (113.1)
Other, net (1.9) 0.9 0.2
Net Cash – Investing activities (82.3) (65.8) (203.4)
Financing Activities      
Commercial paper, net borrowings (repayments) 95.4 13.1 (27.2)
Short-term revolving loans, borrowings 0.0 495.8 0.0
Short-term revolving loans, repayments 0.0 (524.7) 0.0
Long-term debt, issued 0.0 1.5 8.1
Long-term debt, repayments (2.4) (2.5) (3.2)
Repurchase of common stock (116.5) (84.2) (41.4)
Dividends paid (75.8) (59.0) (52.1)
Proceeds from issuance of common stock 1.2 4.3 14.9
Other, net (1.7) (2.9) (0.6)
Net Cash – Financing activities (99.8) (158.6) (101.5)
Exchange rate effects on cash and cash equivalents (22.6) 35.2 (3.0)
Net cash from discontinued operations – operating activities 0.8 1.0 0.9
Net change in cash and cash equivalents (212.3) 247.7 50.7
Cash and cash equivalents – beginning of year (includes restricted cash of $0.8, $0.8, and $1.0, respectively) 860.6 612.9 562.2
Cash and Cash Equivalents – end of Period (includes restricted cash of $0.8, $0.8, and $0.8, respectively) 648.3 860.6 612.9
Cash paid during the year for:      
Interest 3.3 3.3 2.5
Income taxes, net of refunds received $ 61.3 $ 61.1 $ 63.4