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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income attributable to common shareholders $ 245.9 $ 246.4
Noncontrolling interests in subsidiaries’ earnings (0.2) 0.0
Net income before allocation to noncontrolling interests 246.1 246.4
Loss on deconsolidation of joint venture 1.2 0.0
Realized gain on marketable securities (1.1) 0.0
Depreciation and amortization 84.2 84.1
Stock-based compensation expense 16.8 16.1
Defined benefit plans and postretirement credit (0.4) (11.6)
Deferred income taxes 18.8 24.5
Cash used for operating working capital (157.1) (41.3)
Defined benefit plans and postretirement contributions (6.0) (55.8)
Environmental payments, net of reimbursements (6.5) (5.4)
Asbestos related payments, net of insurance recoveries (29.0) (46.4)
Other 4.0 11.8
Total provided by operating activities 171.0 222.4
Investing activities:    
Capital expenditures (50.9) (75.6)
Proceeds from disposition of capital assets 1.3 1.3
Impact of deconsolidation of joint venture (0.2) 0.0
Purchase of marketable securities (8.8) 0.0
Proceeds from sale of marketable securities 9.9 0.0
Payments for acquisitions, net of cash acquired 0.0 (648.0)
Total used for investing activities (48.7) (722.3)
Financing activities:    
Dividends paid (70.1) (62.7)
Reacquisition of shares on open market 0.0 (25.0)
Stock options exercised - net of shares reacquired 2.6 12.5
Debt issuance costs 0.0 (5.4)
Proceeds received from issuance of long-term debt 3.0 554.1
Proceeds received from issuance of short-term debt 0.0 100.0
Repayment of long-term debt (4.5) (450.8)
Repayment of short-term debt 0.0 (100.0)
Proceeds received from issuance of commercial paper, net 0.0 106.3
Total (used for) provided by financing activities (69.0) 129.0
Effect of exchange rates on cash and cash equivalents (7.9) (11.7)
Increase (decrease) in cash and cash equivalents 45.4 (382.6)
Cash and cash equivalents at beginning of period 343.4 706.2
Cash and cash equivalents at end of period 388.8 323.6
Detail of cash used for operating working capital:    
Accounts receivable (24.1) (39.1)
Inventories (48.9) (31.2)
Other current assets 3.7 (12.4)
Accounts payable (69.2) (29.2)
Accrued liabilities (38.5) 70.8
U.S. and foreign taxes on income 19.9 (0.2)
Cash used for operating working capital (157.1) (41.3)
Supplemental disclosure of cash flow information:    
Interest paid 31.7 32.7
Income taxes paid $ 32.7 $ 36.3