XML 21 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net income attributable to common shareholders $ 171.8 $ 122.8 $ 228.9
Noncontrolling interest in subsidiaries' earnings 0.7 1.0 1.1
Net income before allocation to noncontrolling interests 172.5 123.8 230.0
Asbestos provision 0.0 192.4 0.0
Gain on deconsolidation of joint venture (1.0) 0.0 0.0
Gain on sale of property related to facility consolidation (11.1) 0.0 0.0
Restructuring - Non Cash 0.0 0.0 2.0
Depreciation and amortization 72.7 67.4 67.0
Stock-based compensation expense 21.8 21.7 21.3
Defined benefit plans and postretirement credit (8.5) (9.1) (11.6)
Deferred income taxes 102.3 (25.1) 39.7
Cash provided by (used for) operating working capital 54.0 27.0 (16.1)
Defined benefit plans and postretirement contributions (13.2) (8.8) (17.9)
Environmental payments, net of reimbursements (6.3) (11.6) (18.2)
Payments for asbestos-related fees and costs, net of insurance recoveries (62.5) (56.0) (49.9)
Other 3.2 3.6 17.0
Total provided by operating activities 317.5 318.1 229.3
Investing activities:      
Capital expenditures (49.0) (51.5) (39.6)
Proceeds from disposition of capital assets 22.3 0.9 4.4
Impact of deconsolidation of joint ventures (5.2) 0.0 0.0
Payments for acquisitions, net of cash acquired (54.8) 0.0 0.0
Total used for investing activities (86.7) (50.6) (35.2)
Financing activities:      
Dividends paid (78.4) (77.2) (76.6)
Reacquisition of shares on open market (25.0) 0.0 (25.0)
Stock options exercised - net of shares reacquired 25.2 26.4 8.9
Excess tax benefit from stock-based compensation 0.0 0.0 0.1
Proceeds received from issuance of long-term notes 0.0 0.0 (100.0)
(Repayments) proceeds from issuance of commercial paper - net 0.0 (49.6) 48.8
Debt issuance costs 2.6 0.0 0.0
Total used for financing activities (80.8) (100.4) (143.8)
Effect of exchange rates on cash and cash equivalents 46.5 (20.9) (33.1)
Increase in cash and cash equivalents 196.5 146.2 17.2
Cash and cash equivalents at beginning of period 509.7 363.5 346.3
Cash and cash equivalents at end of period 706.2 509.7 363.5
Detail of cash used for working capital:      
Accounts receivable (10.1) (6.2) (2.4)
Inventories 6.4 24.9 (23.0)
Other current assets 0.8 (2.4) (3.0)
Accounts payable 17.5 5.5 3.3
Accrued liabilities 30.8 9.6 6.1
U.S. and foreign taxes on income 8.6 (4.4) 2.9
Total 54.0 27.0 (16.1)
Supplemental disclosure of cash flow information:      
Interest paid 36.0 36.8 37.5
Income taxes paid $ 84.1 $ 69.8 $ 51.1