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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net income before allocations to noncontrolling interests $ 401.1 $ 435.4 $ 181.1
Non-cash loss on divestiture of asbestos-related assets and liabilities 148.9 0.0 0.0
Gain on sale of business (232.5) 0.0 0.0
Gain on sale of property (2.8) (18.5) 0.0
Depreciation and amortization 118.9 121.1 127.5
Stock-based compensation expense 24.2 24.9 22.3
Defined benefit plans and postretirement credit (1.3) (8.0) (7.1)
Deferred income taxes (17.6) (9.5) 18.1
Cash (used for) provided by operating working capital 2.2 (38.0) (39.1)
Defined benefit plans and postretirement contributions (21.8) (29.4) (28.4)
Environmental payments, net of reimbursements (5.8) (5.8) (4.2)
Asbestos related payments, net of insurance recoveries (29.3) (44.9) (31.1)
Divestiture of asbestos-related assets and liabilities (550.0) 0.0 0.0
Other 18.6 (4.7) (7.8)
Total (used for) provided by operating activities (151.6) 498.5 309.5
Investing activities:      
Proceeds from disposition of capital assets 4.3 23.6 4.5
Capital expenditures (58.4) (53.9) (34.1)
Proceeds from sale of business 318.1 0.0 0.0
Purchase of marketable securities 0.0 (10.0) (90.0)
Proceeds from sale of marketable securities 0.0 40.0 60.0
Payment for acquisition - net of cash acquired 0.0 0.0 (169.5)
Total provided by (used for) investing activities 264.0 (0.3) (229.1)
Financing activities:      
Dividends paid (105.9) (100.6) (100.4)
Reacquisition of shares on open market (203.7) (96.3) (70.0)
Stock options exercised, net of shares reacquired 16.2 14.2 5.1
Debt issuance costs 0.0 0.0 (1.3)
Proceeds from issuance of commercial paper with maturities greater than 90 days 0.0 0.0 251.3
Repayments of commercial paper with maturities greater than 90 days 0.0 (27.1) (296.7)
Net repayments from issuance of commercial paper with maturities of 90 days or less 0.0 0.0 (76.8)
Proceeds from revolving credit facility 0.0 0.0 77.2
Repayments of revolving credit facility 0.0 0.0 (77.2)
Proceeds from term loan 399.4 0.0 343.9
Repayment of term loan 0.0 (348.1) 0.0
Total provided by (used for) financing activities 106.0 (557.9) 55.1
Effect of exchange rates on cash and cash equivalents (39.4) (12.7) 21.6
Increase (decrease) in cash and cash equivalents 179.0 (72.4) 157.1
Cash and cash equivalents at beginning of period 478.6 551.0 393.9
Cash and cash equivalents at end of period 657.6 478.6 551.0
Detail of cash (used for) provided by operating working capital      
Accounts receivable (46.8) (58.8) 138.5
Inventories (54.7) (18.2) 35.4
Other current assets (8.0) (18.4) (5.8)
Accounts payable 53.3 59.3 (102.6)
Accrued liabilities 28.8 53.8 4.8
U.S. and foreign taxes on income 25.2 20.3 (31.2)
Total 2.2 (38.0) (39.1)
Supplemental disclosure of cash flow information:      
Interest paid 47.6 44.4 53.8
Income taxes paid $ 147.2 56.3 $ 46.5
After Adjustment      
Operating activities:      
Deferred income taxes   $ (9.6)