XML 18 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 25.3 $ 0.2
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 12.5 13.6
Provision for credit losses 0.2 0.2
Provision for warranties 10.6 6.4
Deferred compensation expense (benefit) 0.1 (0.9)
Share-based compensation 2.2 3.4
Deferred tax benefit (4.7) (8.0)
Gain on disposition of property and equipment, net (3.5) 0.0
Asset impairment charges, net 0.8 3.0
Amortization of debt issuance costs 0.2 0.0
Distributions to deferred compensation programs' participants (0.4) (0.4)
Change in operating assets and liabilities:    
Purchase of trading securities, net (1.1) (0.5)
Receivables and other contract assets 9.7 (21.5)
Inventories (37.2) (71.5)
Prepaid expenses 5.7 (3.8)
Other assets (8.3) (4.8)
Accounts payable 1.3 22.7
Accrued loss reserves 0.6 0.5
Accrued employee related liabilities 1.6 6.1
Other accrued liabilities (7.4) 2.6
Accrued product warranty (6.0) (5.2)
Customer deposits (11.4) 14.2
Income taxes payable/prepaid 6.7 1.8
Net cash used in operating activities (2.5) (41.9)
Cash flows from investing activities:    
Acquisitions, net of cash acquired 0.0 (17.8)
Expenditures for property and equipment (17.1) (18.8)
Proceeds from sale of property and equipment 20.1 0.2
Purchase of investments (0.5) (0.6)
Sale of investments 0.1 0.1
Net cash provided by (used in) investing activities 2.6 (36.9)
Cash flows from financing activities:    
Payment of dividends (5.9) (5.5)
Proceeds from borrowings on credit facilities and bank loans 113.6 28.5
Repayments of borrowings on credit facilities and bank loans (128.1) (25.3)
Supplemental Executive Retirement Plan transactions, net 0.0 0.2
Withholding tax paid upon vesting of share-based compensation awards (1.6) (1.6)
Net cash used in financing activities (22.0) (3.7)
Effect of exchange rates on cash 0.4 (1.3)
Decrease in cash, cash equivalents and restricted cash (21.5) (83.8)
Cash, cash equivalents and restricted cash, beginning of period 66.0 134.4
Cash, cash equivalents and restricted cash, end of period 44.5 50.6
Cash paid during the year for:    
Interest, net of capitalized interest 2.6 0.2
Income taxes paid 5.5 6.7
Non-cash investing activities:    
Capital expenditures in accounts payable 0.5 1.2
Non-cash financing activities:    
Additions to right-of-use assets and lease liabilities $ 0.2 $ 2.5