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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Operating activities from continuing operations:          
Net income from continuing operations attributable to common shareholders $ 110.7 $ 13.4 $ 214.1 $ 71.1  
Gain on sale of property     (18.5) 0.0  
Depreciation and amortization     60.8 61.1  
Stock-based compensation expense     12.4 10.2  
Defined benefit plans and postretirement credit     (4.2) (2.7)  
Deferred income taxes     0.1 7.5  
Cash used for operating working capital     (25.7) (46.5)  
Defined benefit plans and postretirement contributions     (17.2) (2.3)  
Environmental payments, net of reimbursements     (3.6) (3.7)  
Asbestos related payments, net of insurance recoveries     (20.2) (19.2)  
Other     (0.5) 0.1  
Total provided by operating activities from continuing operations     197.5 75.6  
Investing activities from continuing operations:          
Payment for acquisition - net of cash acquired     0.0 (172.3)  
Proceeds from disposition of capital assets     23.4 2.7  
Capital expenditures     (13.9) (13.3)  
Purchase of marketable securities     (10.0) 0.0  
Proceeds from sale of marketable securities     40.0 0.0  
Total provided by (used for) investing activities from continuing operations     39.5 (182.9)  
Financing activities from continuing operations:          
Dividends paid     (50.2) (50.4)  
Reacquisition of shares on open market     0.0 (70.0)  
Stock options exercised, net of shares reacquired     5.2 0.6  
Debt issuance costs     0.0 (1.2)  
Proceeds from issuance of commercial paper with maturities greater than 90 days     0.0 251.3  
Repayments of commercial paper with maturities greater than 90 days     (27.1) (96.5)  
Net proceeds (repayments) from issuance of commercial paper with maturities of 90 days or less     15.0 (62.8)  
Proceeds from revolving credit facility     0.0 77.2  
Repayments of revolving credit facility     0.0 (77.2)  
Proceeds from term loan     0.0 343.9  
Repayment of term loan     (348.1) 0.0  
Total (used for) provided by financing activities from continuing operations     (405.2) 314.9  
Discontinued operations:          
Total provided by operating activities     9.2 1.0  
Total used for investing activities     (0.8) (0.2)  
Increase in cash and cash equivalents from discontinued operations     8.4 0.8  
Effect of exchange rates on cash and cash equivalents     (4.5) (10.2)  
(Decrease) increase in cash and cash equivalents     (164.3) 198.2  
Cash and cash equivalents at beginning of period     551.0 393.9 $ 393.9
Cash and cash equivalents at end of period $ 386.7 $ 592.1 386.7 592.1 $ 551.0
Detail of cash used for operating working capital from continuing operations:          
Accounts receivable     (36.7) 120.0  
Inventories     (29.0) (22.1)  
Other current assets     (22.2) (23.2)  
Accounts payable     44.2 (79.6)  
Accrued liabilities     2.9 (37.1)  
U.S. and foreign taxes on income     15.1 (4.5)  
Cash used for operating working capital     (25.7) (46.5)  
Supplemental disclosure of cash flow information:          
Interest paid     23.8 23.8  
Income taxes paid     $ 37.0 $ 46.4