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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 153.1 $ 130.4
Reconciliation to net cash provided by operating activities:    
Depreciation and amortization 72.7 59.6
Amortization related to financing 0.9 0.7
Deferred income taxes 6.8 12.7
Equity in earnings from affiliated companies (3.3) (2.3)
Stock-based compensation 13.5 12.0
Changes in assets and liabilities:    
Increase in accounts receivable (48.0) (43.4)
Increase in inventories (36.3) (28.6)
Increase in prepaid expenses and other current assets (15.8) (12.9)
Increase in accounts payable/accrued liabilities 17.4 24.7
Other – net (3.8) 4.3
Net cash provided by operating activities 157.2 157.2
Cash flows from investing activities    
Capital expenditures (99.3) (101.9)
Acquisition of business (163.2)  
Net cash used for investing activities (262.5) (101.9)
Cash flows from financing activities    
Repayments of Euro term loan (9.0) (4.2)
Repayment of finance lease obligation and other debt, net (0.4)  
Issuance costs related to senior credit facility (2.2)  
Dividends paid (25.5) (22.4)
Repurchase of stock (11.2) (181.0)
Activity under stock plans 0.5 (0.7)
Net cash provided by (used in) financing activities 128.2 (73.3)
Effect of exchange rate changes on cash and cash equivalents (0.2) (3.0)
Net increase (decrease) in cash and cash equivalents 22.7 (21.0)
Cash and cash equivalents at beginning of period 32.7 60.1
Cash and cash equivalents at end of period 55.4 39.1
Supplemental data:    
Accrual basis additions to plant, property and equipment 107.6 90.0
Senior unsecured credit facility - due 2024    
Cash flows from financing activities    
Borrowing from senior unsecured credit facility 408.0  
Repayment of senior unsecured credit facility (30.0)  
Senior unsecured credit facility - due 2021    
Cash flows from financing activities    
Borrowing from senior unsecured credit facility 345.0 379.0
Repayment of senior unsecured credit facility $ (547.0) $ (244.0)