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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 122.1 $ 129.8
Reconciliation to net cash provided by operating activities:    
Depreciation and amortization 45.5 37.2
Amortization of deferred financing costs and debt discount 1.1 0.5
Deferred income taxes 24.6 23.0
Equity in earnings from affiliated companies (1.2) (0.9)
Stock-based compensation 12.8 14.4
Excess tax benefits on stock-based compensation   (8.6)
Changes in assets and liabilities:    
Increase in accounts receivable (53.4) (65.5)
Increase in inventories (22.6) (48.5)
Increase in prepaid expenses and other current assets (5.6) (5.2)
Increase (decrease) in accounts payable/accrued liabilities 9.3 (15.7)
Other – net 2.3 (10.3)
Net cash provided by operating activities 134.9 50.2
Cash flows from investing activities    
Capital expenditures (156.0) (166.3)
Acquisition of business and investments and advances to affiliates (33.6)  
Net cash used for investing activities (189.6) (166.3)
Cash flows from financing activities    
Proceeds from senior unsecured credit facility 123.1 92.8
Repayment of other debt, net (0.2) (1.1)
Issuance costs related to debt (1.7)  
Dividends paid (19.6) (19.2)
Repurchase of stock (54.9)  
Activity under stock plans (4.7) 11.0
Net cash provided by financing activities 42.0 83.5
Effect of exchange rate changes on cash and cash equivalents (0.2) (3.0)
Net decrease in cash and cash equivalents (12.9) (35.6)
Cash and cash equivalents at beginning of period 51.8 70.9
Cash and cash equivalents at end of period 38.9 35.3
Supplemental data:    
Accrual basis additions to property, plant and equipment $ 142.2 $ 141.5