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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income $ 480.9 $ 553.0 $ 358.6
Loss (income) from discontinued operations, net of tax 2.3 3.0 (1.5)
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities of continuing operations      
Equity income of unconsolidated subsidiaries (1.8) (0.3) (1.4)
Depreciation 54.1 51.2 46.7
Amortization 52.5 26.3 28.4
(Gain) loss on sale of businesses (0.2) (1.4) 0.1
Deferred income taxes (44.8) (9.0) 4.6
Share-based compensation 24.9 29.8 20.3
Asset impairment and write-offs 25.6 0.0 2.7
Amortization of bridge financing debt issuance costs 9.0 0.0 0.0
Pension and other post-retirement (income) expense (12.2) 2.8 12.2
Pension and other post-retirement contributions (8.8) (9.4) (8.4)
(Gain) loss on sale of assets (2.3) 0.7 0.3
Changes in assets and liabilities, net of effects of business acquisitions      
Accounts receivable 30.4 (142.0) 148.3
Inventories (187.0) (121.4) (29.1)
Other current assets (16.5) (12.3) (2.3)
Accounts payable (56.9) 114.2 (81.9)
Employee compensation and benefits (35.2) 24.5 42.5
Other current liabilities 46.5 116.2 32.0
Other non-current assets and liabilities 3.8 (12.3) 2.1
Net cash provided by operating activities of continuing operations 364.3 613.6 574.2
Net cash used for operating activities of discontinued operations (1.0) (0.4) (0.6)
Net cash provided by operating activities 363.3 613.2 573.6
Investing activities      
Capital expenditures (85.2) (60.2) (62.2)
Proceeds from sale of property and equipment 4.1 3.9 0.1
Proceeds from sale of businesses, net 0.0 1.4 0.0
Acquisitions, net of cash acquired (1,580.9) (338.5) (58.0)
Settlement of net investment hedges 78.9 0.0 0.0
Other 0.3 2.7 2.2
Net cash used for investing activities (1,582.8) (390.7) (117.9)
Financing activities      
Net borrowings (repayments) of revolving long-term debt 124.5 159.4 (117.5)
Proceeds from long-term debt 1,391.3 0.0 0.0
Repayment of long-term debt (88.3) (103.8) (74.0)
Debt issuance costs (15.8) (2.3) 0.0
Shares issued to employees, net of shares withheld (2.7) 22.2 32.9
Repurchases of ordinary shares (50.0) (150.0) (150.2)
Dividends paid (138.6) (133.0) (127.1)
Receipts upon the settlement of cross currency swaps 12.3    
Payments upon the settlement of cross currency swaps   (14.7) 0.0
Net cash provided by (used for) financing activities 1,232.7 (222.2) (435.9)
Effect of exchange rate changes on cash and cash equivalents 1.2 12.1 (20.2)
Change in cash and cash equivalents 14.4 12.4 (0.4)
Cash and cash equivalents, beginning of year 94.5 82.1 82.5
Cash and cash equivalents, end of year 108.9 94.5 82.1
Supplemental disclosure of cash flow information:      
Cash paid for interest, net 57.0 29.9 41.0
Cash paid for income taxes, net $ 122.6 $ 71.8 $ 67.7