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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net income $ 72.2 $ 61.6
Reconciliation to net cash provided by operating activities:    
Depreciation and amortization 38.7 29.8
Amortization related to financing 0.3 0.3
Deferred income taxes 4.2 10.1
Equity in earnings from affiliated companies (2.0) (1.3)
Stock-based compensation 11.1 9.9
Changes in assets and liabilities:    
Increase in accounts receivable (59.4) (41.2)
Increase in inventories (32.3) (14.6)
(Increase) decrease in prepaid expenses and other current assets (5.8) 2.6
Increase in accounts payable/accrued liabilities 19.1 7.0
Other – net (0.2) (1.6)
Net cash provided by operating activities 45.9 62.6
Cash flows from investing activities    
Capital expenditures (61.1) (59.5)
Acquisition of business (158.4)  
Net cash used for investing activities (219.5) (59.5)
Cash flows from financing activities    
Borrowing from senior unsecured credit facility 289.0 133.0
Repayment of senior unsecured credit facility (77.0) (105.0)
Repayment of finance lease obligation and other debt, net (0.2)  
Dividends paid (12.7) (11.2)
Repurchase of stock (11.2) (30.1)
Activity under stock plans (3.0) (2.2)
Net cash provided by (used in) financing activities 184.9 (15.5)
Effect of exchange rate changes on cash and cash equivalents (0.3) 2.1
Net increase (decrease) in cash and cash equivalents 11.0 (10.3)
Cash and cash equivalents at beginning of period 32.7 60.1
Cash and cash equivalents at end of period 43.7 49.8
Supplemental data:    
Accrual basis additions to property, plant and equipment $ 57.5 $ 45.3