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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities from continuing operations:      
Net income from continuing operations attributable to common shareholders $ 394.3 $ 163.1 $ 112.3
Asbestos provision, net 0.0 0.0 229.0
Environmental provision, net 0.0 0.0 18.9
Loss on deconsolidation of joint venture 0.0 0.0 1.2
Realized gain on marketable securities 0.0 0.0 (1.1)
Gain on sale of property (18.5) 0.0 0.0
Depreciation and amortization 119.5 123.8 107.9
Stock-based compensation expense 24.5 21.8 21.8
Defined benefit plans and postretirement credit (8.0) (7.1) (0.7)
Deferred income taxes 10.8 16.0 (28.3)
Cash provided by (used for) operating working capital (29.7) (37.8) 33.2
Defined benefit plans and postretirement contributions (29.4) (28.4) (8.7)
Environmental payments, net of reimbursements (5.8) (4.2) (8.2)
Asbestos related payments, net of insurance recoveries (44.9) (31.1) (41.5)
Other (5.5) (7.6) 1.0
Total provided by operating activities from continuing operations 466.7 284.1 370.4
Investing activities from continuing operations:      
Payment for acquisition - net of cash acquired 0.0 (169.5) (156.2)
Proceeds from disposition of capital assets 23.6 4.4 3.1
Capital expenditures (51.7) (32.9) (64.4)
Purchase of marketable securities (10.0) (90.0) (8.8)
Proceeds from sale of marketable securities 40.0 60.0 9.9
Impact of deconsolidation of joint venture 0.0 0.0 (0.2)
Total provided by (used for) investing activities from continuing operations 1.9 (228.0) (216.6)
Financing activities from continuing operations:      
Dividends paid (100.6) (100.4) (93.2)
Reacquisition of shares on open market (96.3) (70.0) (79.9)
Stock options exercised, net of shares reacquired 14.2 5.1 2.9
Debt issuance costs 0.0 (1.3) 0.0
Repayment of long-term debt 0.0 0.0 (99.4)
Repayment of short-term debt 0.0 0.0 (7.4)
Proceeds from issuance of long-term debt 0.0 0.0 3.0
Proceeds from issuance of commercial paper with maturities greater than 90 days 0.0 251.3 25.0
Repayments of commercial paper with maturities greater than 90 days (27.1) (296.7) 0.0
Net (repayments) proceeds from issuance of commercial paper with maturities of 90 days or less 0.0 (76.8) 124.4
Proceeds from revolving credit facility 0.0 77.2 0.0
Repayments of revolving credit facility 0.0 (77.2) 0.0
Proceeds from term loan 0.0 343.9 0.0
Repayment of term loan (348.1) 0.0 0.0
Total (used for) provided by financing activities from continuing operations (557.9) 55.1 (124.6)
Discontinued operations:      
Total provided by operating activities 31.8 25.4 23.4
Total used for investing activities (2.2) (1.1) (4.4)
Increase in cash and cash equivalents from discontinued operations 29.6 24.3 19.0
Effect of exchange rates on cash and cash equivalents (12.7) 21.6 2.3
(Decrease) increase in cash and cash equivalents (72.4) 157.1 50.5
Cash and cash equivalents at beginning of period 551.0 393.9 343.4
Cash and cash equivalents at end of period 478.6 551.0 393.9
Detail of cash provided by (used for) operating working capital from continuing operations:      
Accounts receivable (57.0) 139.2 1.9
Inventories (18.5) 35.2 (8.8)
Other current assets (18.0) (5.8) (1.2)
Accounts payable 51.8 (103.1) (13.6)
Accrued liabilities 51.1 3.5 (35.9)
U.S. and foreign taxes on income 20.3 (31.2) 24.4
Total 29.7 37.8 (33.2)
Supplemental disclosure of cash flow information:      
Interest paid 44.4 53.8 47.4
Income taxes paid $ 56.3 $ 43.8 $ 35.1