XML 25 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 105.7 $ 126.3 $ 16.1
Reconciliation to net cash provided by operating activities:      
Depreciation and amortization 124.8 126.2 138.0
Amortization of deferred financing costs and debt discount 0.6 0.7 3.1
Deferred income taxes (32.7) (3.1) (2.6)
Equity in earnings from affiliated companies (8.1) (8.1) 0.0
Stock-based compensation 20.9 20.0 19.0
Restructuring expenses, net of payments (4.4) (0.7) (5.6)
Pension Settlement 70.5 0.0 0.0
Gain on sale of assets (0.8) (19.4) 0.0
Impairment of assets 3.1 1.6 0.0
Loss (gain) on sale of investments 3.0 (0.3) 0.0
Changes in assets and liabilities:      
Increase in accounts receivable (8.9) (62.8) (40.7)
Increase in inventories (8.9) (82.4) (40.4)
Decrease (increase) in prepaid expenses and other current assets 2.6 (8.3) 13.0
(Decrease) increase in accounts payable/accrued liabilities (12.2) 80.8 49.8
Other – net 1.9 2.6 2.0
Net cash provided by operating activities 257.1 173.1 151.7
Cash flows from investing activities      
Capital expenditures (108.2) (76.3) (27.9)
Proceeds from sale of assets 10.3 21.2 0.0
Proceeds from sale of investments 47.2 0.5 0.0
Net cash used for investing activities (50.7) (54.6) (27.9)
Cash flows from financing activities      
Repayment of finance lease obligation and other debt, net (0.2) (0.6) (0.9)
Issuance costs related to senior credit facility (2.5) 0.0 0.0
Dividends paid (42.2) (33.7) 0.0
Repurchase of stock (30.1) 0.0 0.0
Activity under stock plans 7.4 4.3 7.1
Net cash used for financing activities (92.6) (130.0) (96.8)
Effect of exchange rate changes on cash and cash equivalents 1.2 (4.2) (2.6)
Net increase (decrease) in cash and cash equivalents 115.0 (15.7) 24.4
Cash and cash equivalents at beginning of period 112.0 127.7 103.3
Cash and cash equivalents at end of period 227.0 112.0 127.7
Supplemental data:      
Interest, net of capitalized interest 34.6 35.4 36.1
Income Taxes 59.1 35.9 1.2
Accrual basis additions to property, plant and equipment 121.6 69.8 41.4
Senior Unsecured Credit Facility Two Thousand Twenty Eight [Member]      
Cash flows from financing activities      
Borrowing from senior unsecured credit facility 98.0 0.0 0.0
Repayment of senior unsecured credit facility (98.0) 0.0 0.0
Senior Unsecured Credit Facility Two Thousand Twenty Four [Member]      
Cash flows from financing activities      
Borrowing from senior unsecured credit facility 65.0 50.0 0.0
Repayment of senior unsecured credit facility $ (90.0) $ (150.0) $ (103.0)