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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Operating activities:              
Net income attributable to common shareholders $ 14.8 $ 62.8 $ 91.0   $ 77.6 $ 173.4  
Noncontrolling interests in subsidiaries’ earnings 0.0   0.0   0.0 (0.1)  
Net income before allocation to noncontrolling interests 14.8 62.8 91.0 $ 82.5 77.6 173.5  
Loss on deconsolidation of joint venture         0.0 1.2  
Unrealized gain on marketable securities         0.0 (3.1)  
Depreciation and amortization         62.9 56.3  
Stock-based compensation expense         10.5 11.2  
Defined benefit plans and postretirement credit         (2.7) (4.0)  
Deferred income taxes         7.5 10.8  
Cash used for operating working capital         (54.1) (171.4)  
Defined benefit plans and postretirement contributions         (2.3) (5.1)  
Environmental payments, net of reimbursements         (3.7) (4.0)  
Asbestos related payments, net of insurance recoveries         (19.2) (17.9)  
Other         0.1 5.0  
Total provided by operating activities         76.6 52.5  
Investing activities:              
Payment for acquisition - net of cash acquired         (172.3) 0.0  
Proceeds from disposition of capital assets         2.7 0.9  
Capital expenditures         (13.5) (36.1)  
Purchase of marketable securities         0.0 (8.8)  
Loss on deconsolidation of joint venture         0.0 (0.2)  
Total used for investing activities         (183.1) (44.2)  
Financing activities:              
Dividends paid         (50.4) (46.7)  
Reacquisition of shares on open market         (70.0) 0.0  
Stock options exercised - net of shares reacquired         0.6 1.2  
Debt issuance costs         (1.2) 0.0  
Proceeds received from issuance of long-term debt         0.0 3.0  
Repayment of long-term debt         0.0 (2.8)  
Proceeds from issuance of commercial paper with maturities greater than 90 days         251.3 0.0  
Repayments of commercial paper with maturities greater than 90 days         (96.5) 0.0  
Net repayments from issuance of commercial paper with maturities of 90 days or less         (62.8) 0.0  
Proceeds from revolving credit facility         77.2 0.0  
Repayments from revolving credit facility         (77.2) 0.0  
Proceeds from term loan         343.9 0.0  
Total provided by (used for) financing activities         314.9 (45.3)  
Effect of exchange rates on cash and cash equivalents         (10.2) 0.6  
Increase (decrease) in cash and cash equivalents         198.2 (36.4)  
Cash and cash equivalents at beginning of period   $ 393.9   $ 343.4 393.9 343.4 $ 343.4
Cash and cash equivalents at end of period $ 592.1   $ 307.0   592.1 307.0 $ 393.9
Detail of cash used for operating working capital:              
Accounts receivable         117.9 (29.9)  
Inventories         (19.6) (26.3)  
Other current assets         (23.5) (6.7)  
Accounts payable         (86.8) (54.2)  
Accrued liabilities         (37.6) (70.1)  
U.S. and foreign taxes on income         (4.5) 15.8  
Cash used for operating working capital         (54.1) (171.4)  
Supplemental disclosure of cash flow information:              
Interest paid         23.8 24.0  
Income taxes paid         $ 18.6 $ 24.1