XML 34 R6.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 233.4 $ 210.5
Reconciliation to net cash provided by operating activities:    
Depreciation and amortization 107.1 90.8
Amortization related to financing 1.1 1.2
Deferred income taxes 9.3 27.5
Equity in earnings from affiliated companies (2.9) (4.3)
Stock-based compensation 15.9 14.0
Changes in assets and liabilities:    
Increase in accounts receivable (29.5) (27.7)
Increase in inventories (56.8) (32.1)
Increase in prepaid expenses and other current assets (12.5) (5.0)
Increase in accounts payable/accrued liabilities 15.1 0.2
Other – net (2.9) 3.3
Net cash provided by operating activities 277.3 278.4
Cash flows from investing activities    
Capital expenditures (162.7) (150.2)
Acquisition of business (163.2) (0.7)
Net cash used for investing activities (325.9) (150.9)
Cash flows from financing activities    
Repayments of Euro term loan (9.0) (4.2)
Repayment of finance lease obligation and other debt, net (0.6) 0.3
Issuance costs related to senior credit facility (2.2)  
Dividends paid (39.9) (35.5)
Repurchase of stock (66.9) (282.8)
Activity under stock plans 6.4 0.4
Net cash provided by (used in) financing activities 64.8 (136.8)
Effect of exchange rate changes on cash and cash equivalents (1.9) (3.6)
Net increase (decrease) in cash and cash equivalents 14.3 (12.9)
Cash and cash equivalents at beginning of period 32.7 60.1
Cash and cash equivalents at end of period 47.0 47.2
Supplemental data:    
Accrual basis additions to plant, property and equipment 160.9 133.5
Senior unsecured credit facility - due 2024    
Cash flows from financing activities    
Borrowing from senior unsecured credit facility 478.0  
Repayment of senior unsecured credit facility (99.0)  
Senior unsecured credit facility - due 2021    
Cash flows from financing activities    
Borrowing from senior unsecured credit facility 345.0 662.0
Repayment of senior unsecured credit facility $ (547.0) $ (477.0)