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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income (loss) $ 36.5 $ 42.7
Reconciliation to net cash used for operating activities:    
Depreciation and amortization 31.0 30.7
Amortization related to financing 0.1 0.1
Deferred income taxes (0.7) (2.1)
Equity in earnings from affiliated companies 0.0 (1.0)
Stock-based compensation 13.1 12.9
Restructuring expenses, net of payments 0.7 (2.1)
Impairment of assets 0.0 1.7
Changes in assets and liabilities:    
Increase in accounts receivable (37.5) (40.5)
Increase in inventories (23.0) (32.6)
(Increase) decrease in prepaid expenses and other current assets (10.0) 0.1
Decrease in accounts payable/accrued liabilities (14.0) (31.0)
Other – net (3.2) (2.3)
Net cash used for operating activities (7.0) (23.4)
Cash flows from investing activities    
Capital expenditures (28.7) (18.1)
Net cash used for investing activities (28.7) (18.1)
Cash flows from financing activities    
Borrowing from senior unsecured credit facility 15.0 65.0
Repayment of senior unsecured credit facility 0.0 (20.0)
Repurchases of common stock (100.7) 0.0
Repayment of finance lease obligation and other debt, net (0.1) (0.1)
Dividends paid (12.6) (10.5)
Activity under stock plans (5.9) 0.4
Net cash (used for) provided by financing activities (104.3) 34.8
Effect of exchange rate changes on cash and cash equivalents (1.1) 0.4
Net decrease in cash and cash equivalents (141.1) (6.3)
Cash and cash equivalents at beginning of period 227.0 112.0
Cash and cash equivalents at end of period 85.9 105.7
Supplemental data:    
Accrual basis additions to plant, property, and equipment $ 18.6 $ 16.8