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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income attributable to common shareholders $ 181.0 $ 133.3 $ 335.6
Noncontrolling interest in subsidiaries' earnings (loss) 0.1 0.3 (0.1)
Net income before allocation to noncontrolling interests 181.1 133.6 335.5
Asbestos provision, net 0.0 229.0 0.0
Environmental provision, net 0.0 18.9 0.0
Loss on deconsolidation of joint venture 0.0 1.2 1.7
Realized gain on marketable securities 0.0 (1.1) 0.0
Depreciation and amortization 127.5 113.5 120.0
Stock-based compensation expense 22.3 22.3 21.6
Defined benefit plans and postretirement credit (7.1) (0.7) (15.0)
Deferred income taxes 18.1 (25.1) 47.7
Cash provided by (used for) operating working capital 39.1 (40.0) 16.3
Defined benefit plans and postretirement contributions (28.4) (8.7) (59.8)
Environmental payments, net of reimbursements (4.2) (8.2) (6.3)
Asbestos related payments, net of insurance recoveries (31.1) (41.5) (63.9)
Other (7.8) 0.7 16.0
Total provided by operating activities 309.5 393.9 413.8
Investing activities:      
Payments for acquisitions, net of cash acquired (169.5) (156.2) (648.0)
Proceeds from disposition of capital assets 4.5 3.1 1.9
Capital expenditures (34.1) (68.8) (108.8)
Impact of deconsolidation of joint venture 0.0 (0.2) 2.6
Purchase of marketable securities (90.0) (8.8) 0.0
Proceeds from sale of marketable securities 60.0 9.9 0.0
Total used for investing activities (229.1) (221.0) (752.3)
Financing activities:      
Dividends paid (100.4) (93.2) (83.5)
Reacquisition of shares on open market (70.0) (79.9) (50.1)
Stock options exercised, net of shares reacquired 5.1 2.9 16.1
Debt issuance costs (1.3) 0.0 (5.4)
Repayment of long-term debt 0.0 (99.4) (452.2)
Repayment of short-term debt 0.0 (7.4) (100.0)
Proceeds from issuance of long-term debt 0.0 3.0 567.2
Proceeds from issuance of short-term debt 0.0 0.0 100.0
Proceeds from issuance of commercial paper with maturities greater than 90 days 251.3 25.0 0.0
Repayments of commercial paper with maturities greater than 90 days (296.7) 0.0 0.0
Net (repayments) proceeds from issuance of commercial paper with maturities of 90 days or less (76.8) 124.4 0.0
Proceeds from revolving credit facility 77.2 0.0 0.0
Repayments of revolving credit facility (77.2) 0.0 0.0
Proceeds from term loan 343.9 0.0 0.0
Total provided by (used for) financing activities 55.1 (124.6) (7.9)
Effect of exchange rates on cash and cash equivalents 21.6 2.2 (16.4)
Increase (decrease) in cash and cash equivalents 157.1 50.5 (362.8)
Cash and cash equivalents at beginning of period 393.9 343.4 706.2
Cash and cash equivalents at end of period 551.0 393.9 343.4
Detail of cash provided by (used for) operating working capital:      
Accounts receivable 138.5 3.8 4.8
Inventories 35.4 (8.3) (38.8)
Other current assets (5.8) (1.3) (11.4)
Accounts payable (102.6) (23.4) 37.0
Accrued liabilities 4.8 (35.2) 40.9
U.S. and foreign taxes on income (31.2) 24.4 (16.2)
Cash provided by (used for) operating working capital 39.1 (40.0) 16.3
Supplemental disclosure of cash flow information:      
Interest paid 53.8 47.4 47.5
Income taxes paid $ 46.5 $ 37.9 $ 58.4