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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ 117.0 $ (140.0)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 32.0 32.0
Amortization of intangible assets 56.0 47.0
Amortization of deferred financing costs 2.0 1.0
Goodwill impairment 0.0 157.0
Indefinite-lived intangible asset impairment 0.0 39.0
Deferred income taxes (3.0) (8.0)
Stock based compensation expense 13.0 10.0
Other non-cash expense 17.0 10.0
Gain on sale of non-strategic businesses and product lines (13.0) 0.0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts and notes receivable-trade, net 11.0 53.0
Inventories, net (50.0) (57.0)
Prepaid expenses and other current assets (27.0) (27.0)
Other noncurrent assets (13.0) (7.0)
Accounts payable (17.0) (29.0)
Accrued liabilities (81.0) (95.0)
Income taxes (8.0) 7.0
Other noncurrent liabilities 13.0 (3.0)
Net cash provided by (used in) operating activities 49.0 (10.0)
Cash flows from investing activities:    
Capital expenditures (30.0) (26.0)
Cash paid for acquisitions of businesses and equity investments, net of cash acquired (92.0) 0.0
Cash received on sale of non-strategic businesses or product lines 19.0 0.0
Cash received on derivative contracts 0.0 9.0
Proceeds from sale of property, plant, and equipment 0.0 1.0
Net cash used in investing activities (103.0) (16.0)
Cash flows from financing activities:    
Proceeds on short-term borrowings 30.0 31.0
Cash paid for treasury stock (90.0) (140.0)
Cash dividends paid (22.0) (22.0)
Proceeds from long-term borrowings, net of deferred financing costs 4.0 0.0
Repayments on long-term borrowings, net 0.0 (1.0)
Proceeds from exercised stock options 33.0 4.0
Net cash used in financing activities (53.0) (130.0)
Effect of exchange rate changes on cash and cash equivalents (13.0) (13.0)
Net decrease in cash and cash equivalents (120.0) (169.0)
Cash and cash equivalents at beginning of period 438.0 405.0
Cash and cash equivalents at end of period 318.0 236.0
Proceeds from (Payments for) Other Financing Activities $ (8.0) $ (2.0)