XML 16 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net Income (Loss) $ 59.9 $ 47.3
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 24.3 20.9
Deferred income taxes (1.0) (0.3)
Share-based compensation 4.1 3.9
Equity (earnings) from unconsolidated affiliates (27.2) (20.8)
(Gain) from change in fair value of contingent consideration (0.3) 0.0
Payment of contingent consideration in excess of acquisition-date fair value 0.0 (5.0)
Other non-cash adjustments, net 0.0 (0.1)
Changes in operating assets and liabilities:    
Receivables (25.1) (16.1)
Inventories (2.5) (3.5)
Accounts payable and accrued expenses (18.2) (11.7)
Income taxes receivable and payable, net 19.5 15.5
Other assets and liabilities (7.1) (3.9)
Net cash provided by operating activities 26.4 26.2
Cash flows from investing activities:    
Purchases of property, plant and equipment (14.7) (22.3)
Investment in unconsolidated subsidiary (5.5) 0.0
Return of investment from joint venture 23.4 20.8
Proceeds from company owned life insurance, net 2.7 0.0
Net cash provided by (used for) investing activities 5.9 (1.5)
Cash flows from financing activities:    
Proceeds from revolving credit facility 25.0 25.0
Payments of revolving credit facility (25.0) (10.0)
Payments of long-term debt (5.6) 0.0
Payments for finance leases (0.8) (0.6)
Dividends paid (12.3) (11.6)
Proceeds (payments) from share-based compensation plans, net of tax 0.6 (0.3)
Payments of acquisition-related contingent consideration 0.0 (10.2)
Payments for treasury stock acquired (15.0) (27.0)
Net cash (used for) financing activities (33.1) (34.7)
Effect of exchange rate changes on cash and cash equivalents (0.4) 0.0
Net (decrease) in cash and cash equivalents (1.2) (10.0)
Cash and cash equivalents at beginning of year 70.8 106.0
Cash and cash equivalents at end of period 69.6 96.0
Supplemental Cash Flow Disclosures:    
Interest paid 8.5 8.4
Income tax payments, net 1.7 1.5
Amounts in accounts payable for capital expenditures $ 0.4 $ 2.5