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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 42.4 $ 72.2
Reconciliation to net cash provided by operating activities:    
Depreciation and amortization 35.5 38.7
Amortization related to financing 0.3 0.3
Deferred income taxes (0.6) 4.2
Equity in earnings from affiliated companies (0.5) (2.0)
Stock-based compensation 14.4 11.1
Merger and restructuring charges 14.7  
Merger and restructuring cash payments (2.1)  
Changes in assets and liabilities:    
Increase in accounts receivable (42.0) (59.4)
Increase in inventories (26.4) (32.3)
Increase in prepaid expenses and other current assets (7.6) (5.8)
(Decrease) increase in accounts payable/accrued liabilities (18.8) 19.1
Other – net (0.7) (0.2)
Net cash provided by operating activities 8.6 45.9
Cash flows from investing activities    
Capital expenditures (27.2) (61.1)
Acquisition of business   (158.4)
Net cash used for investing activities (27.2) (219.5)
Cash flows from financing activities    
Repayments of Euro term loan (49.9)  
Repayment of finance lease obligation and other debt, net (0.1) (0.2)
Dividends paid (14.2) (12.7)
Repurchase of stock (24.6) (11.2)
Activity under stock plans (6.4) (3.0)
Net cash provided by financing activities 284.8 184.9
Effect of exchange rate changes on cash and cash equivalents (1.3) (0.3)
Net increase in cash and cash equivalents 264.9 11.0
Cash and cash equivalents at beginning of period 64.4 32.7
Cash and cash equivalents at end of period 329.3 43.7
Supplemental data:    
Accrual basis additions to plant, property and equipment 21.9 57.5
Senior unsecured credit facility - due 2024    
Cash flows from financing activities    
Borrowing from senior unsecured credit facility 392.0  
Repayment of senior unsecured credit facility $ (12.0)  
Senior unsecured credit facility - due 2021    
Cash flows from financing activities    
Borrowing from senior unsecured credit facility   289.0
Repayment of senior unsecured credit facility   $ (77.0)