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CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income attributable to common shareholders $ 86.9 $ 98.3
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization 38.5 39.9
Stock-based compensation expense 4.7 4.5
Defined benefit plans and postretirement credit (0.4) (0.1)
Deferred income taxes 4.8 7.6
Cash used for operating working capital (36.7) (35.9)
Other (2.8) 6.8
Total provided by operating activities 95.0 121.1
Investing activities:    
Capital expenditures (8.5) (7.6)
Total used for investing activities (8.5) (7.6)
Financing activities:    
Dividends paid (7.9) 0.0
Stock options exercised, net of shares reacquired 1.9 0.0
Debt issuance costs (5.2) 0.0
Repayment of long-term debt (300.0) 0.0
Proceeds from term loan 350.0 0.0
Repayment of term loan (50.0) 0.0
Net transfers to Crane (32.5) (72.9)
Total used for financing activities (43.7) (72.9)
Effect of exchange rates on cash and cash equivalents 3.4 (12.6)
Increase in cash and cash equivalents 46.2 28.0
Cash and cash equivalents at beginning of period 230.7 101.2
Cash and cash equivalents at end of period 276.9 129.2
Detail of cash provided by (used for) operating working capital:    
Accounts receivable 5.9 (1.5)
Inventories (18.4) (2.5)
Other current assets (3.9) (4.3)
Accounts payable (8.8) (4.9)
Accrued liabilities (12.3) (24.4)
U.S. and foreign taxes on income 0.8 1.7
Total (36.7) (35.9)
Supplemental disclosure of cash flow information:    
Interest paid 19.8 20.6
Income taxes paid $ 28.9 $ 19.0