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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income (loss) $ 42.7 $ 17.8
Reconciliation to net cash used for operating activities:    
Depreciation and amortization 30.7 32.2
Amortization related to financing 0.1 0.3
Deferred income taxes (2.1) (1.8)
Equity in earnings from affiliated companies (1.0) (1.5)
Stock-based compensation 12.9 10.4
Restructuring expenses, net of payments (2.1) (5.0)
Impairment of assets 1.7 0.0
Changes in assets and liabilities:    
Increase in accounts receivable (40.5) (54.7)
Increase in inventories (32.6) (24.4)
Increase in prepaid expenses and other current assets 0.1 (8.6)
(Decrease) increase in accounts payable/accrued liabilities (31.0) 13.4
Other – net (2.3) 2.9
Net cash used for operating activities (23.4) (19.0)
Cash flows from investing activities    
Capital expenditures (18.1) (20.9)
Net cash used for investing activities (18.1) (20.9)
Cash flows from financing activities    
Borrowing from senior unsecured credit facility 65.0 35.0
Repayment of senior unsecured credit facility (20.0) 0.0
Repayment of finance lease obligation and other debt, net (0.1) (0.3)
Dividends paid (10.5) (8.5)
Activity under stock plans 0.4 (0.3)
Net cash provided by (used for) financing activities 34.8 25.9
Effect of exchange rate changes on cash and cash equivalents 0.4 (0.9)
Net decrease in cash and cash equivalents (6.3) (14.9)
Cash and cash equivalents at beginning of period 112.0 127.7
Cash and cash equivalents at end of period 105.7 112.8
Supplemental data:    
Accrual basis additions to plant, property, and equipment $ 16.8 $ 11.1