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Consolidated Statement of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Cash Flows from Operating Activities of Continuing Operations      
Net income from continuing operations $ 371.1 $ 334.7 $ 368.0
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities, net of acquisitions:      
Depreciation and amortization 149.1 144.5 137.9
Deferred income taxes 9.2 1.4 4.0
Stock-based compensation 17.5 21.9 14.5
Provision for bad debt expense 1.3 6.7 1.7
Loss (Gain) on disposition of business 6.9 0.0 (21.7)
Loss on extinguishment of debt 16.8 0.0 0.0
Pension charge 0.0 7.6 0.0
(Gain) loss on sale of assets (4.7) 0.2 (0.6)
Changes in assets and liabilities, net of acquisitions:      
(Increase) decrease in accounts receivable (124.8) 41.7 35.4
(Increase) decrease in inventories (138.9) 45.8 (6.3)
Increase (decrease) in accounts payable 195.1 20.7 (29.3)
Increase (decrease) in current liabilities 27.6 (26.9) 3.8
Changes in other assets and liabilities, net (14.9) 19.2 0.9
Contributions to qualified defined benefit pension plans (0.1) (23.2) (10.4)
Other, net 2.5 8.6 18.9
NET CASH PROVIDED BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS 513.7 602.9 516.8
Cash Flows from Investing Activities of Continuing Operations      
Capital expenditures (90.2) (82.8) (86.7)
Acquisitions, net of cash acquired 0.1 (239.6) (70.8)
Proceeds from disposal of business, net of cash 8.5 0.0 33.6
Purchases of available-for-sale investments (11.4) (35.1) (14.2)
Proceeds from sales of available-for-sale investments 11.5 28.9 12.5
Other, net 9.4 5.3 3.7
NET CASH USED IN INVESTING ACTIVITIES FROM CONTINUING OPERATIONS (72.1) (323.3) (121.9)
Cash Flows from Financing Activities of Continuing Operations      
Issuance of long-term debt 298.7 225.0 0.0
Payment of long-term debt (300.0) (331.3) (225.0)
Issuance of short-term debt 8.1 125.5 0.7
Payment of short-term debt (151.6) (3.6) (0.8)
Payment of dividends (216.9) (201.4) (186.6)
Make whole payment for retirement of long-term debt (16.0) 0.0 0.0
Debt issuance cost (4.5) 0.0 0.0
Acquisition of common shares (11.2) (41.3) (35.0)
Other (39.6) (17.1) (24.3)
NET CASH PROVIDED (USED) IN FINANCING ACTIVITIES FROM CONTINUING OPERATIONS (433.0) (244.2) (471.0)
Discontinued Operations:      
Cash provided by operating activities 30.1 45.1 74.8
Cash used by investing activities (5.7) (5.5) (7.0)
Cash provided by discontinued operations 24.4 39.6 67.8
Effect of foreign currency exchange rate changes on cash and cash equivalents (3.0) 2.6 1.3
Increase (Decrease) in cash, cash equivalents, and restricted cash 30.0 77.6 (7.0)
Cash and cash equivalents, beginning of year 258.6 179.8 187.4
Cash and cash equivalents within assets held for sale, beginning of year 1.0 2.2 1.6
Less: Restricted cash, included in Other Assets 2.7 0.0 0.0
Less: Cash and cash equivalents within assets held for sale, end of year 0.7 1.0 2.2
Cash and cash equivalents, end of year $ 286.2 $ 258.6 $ 179.8