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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net income $ 165.6 $ 144.4
Loss (income) from discontinued operations, net of tax 1.9 (8.1)
Adjustments to reconcile net income from continuing operations to net cash provided by (used for) operating activities of continuing operations    
Equity income of unconsolidated subsidiaries (2.5) (5.8)
Depreciation 24.4 24.9
Amortization 16.5 18.4
Deferred income taxes (9.6) 10.1
(Gain) loss on sale of business (3.4) 6.2
Share-based compensation 10.7 11.3
Trade name and other impairment 18.2 6.0
Loss on early extinguishment of debt 0.0 (17.1)
Pension settlement gain (12.2) 0.0
Pension and other post-retirement plan contribution (10.7) 0.0
Changes in assets and liabilities, net of effects of business acquisitions    
Accounts and notes receivable 32.2 52.7
Inventories 3.1 (15.4)
Other current assets (18.8) (10.8)
Accounts payable (123.1) (45.9)
Employee compensation and benefits (22.5) (32.2)
Other current liabilities 28.5 3.5
Other non-current assets and liabilities 0.9 1.4
Net cash provided by operating activities of continuing operations 99.2 177.8
Net cash used for operating activities of discontinued operations (2.5) (5.9)
Net cash provided by operating activities 96.7 171.9
Investing activities    
Capital expenditures (29.8) (20.3)
Proceeds from sale of property and equipment 0.4 (0.5)
Proceeds from (payments due to) the sale of businesses, net 0.7 (12.8)
Acquisitions, net of cash acquired (284.5) (0.9)
Other 1.5 0.0
Net cash used for investing activities of continuing operations (314.7) (34.5)
Net cash used for investing activities of discontinued operations 0.0 (7.1)
Net cash used for investing activities (314.7) (41.6)
Financing activities    
Net receipts of commercial paper and revolving long-term debt 32.9 30.2
Proceeds from long-term debt 400.0 0.0
Repayments of long-term debt 0.0 675.1
Debt issuance costs 5.7 0.0
Premium paid on early extinguishment of debt 0.0 16.0
Transfer of cash to nVent 0.0 74.2
Distribution of cash from nVent 0.0 993.6
Shares issued to employees, net of shares withheld 7.2 6.3
Repurchases of ordinary shares (150.0) (300.0)
Dividends paid (62.0) (125.9)
Net cash provided by financing activities of continuing operations 222.4 (161.1)
Change in cash held for sale 0.0 27.0
Effect of exchange rate changes on cash and cash equivalents 1.8 (3.8)
Change in cash and cash equivalents 6.2 (7.6)
Cash and cash equivalents, beginning of period 74.3 86.3
Cash and cash equivalents, end of period $ 80.5 $ 78.7