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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net income from continuing operations $ 20.2 $ 21.5 $ 33.3 $ 34.8  
Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities:          
Depreciation and amortization     3.8 2.6  
Provision for credit losses     1.9 1.4  
Stock-based compensation     0.6 1.2  
(Benefit) provision for deferred taxes     (0.1) 0.1  
Changes in operating assets and liabilities:          
Accounts receivable     (14.2) (16.9)  
Inventories     (22.4) 25.6  
Prepaid expenses and other assets     (1.9) 0.4  
Income taxes payable     2.8 3.6  
Accounts payable     15.2 8.9  
Accrued expenses, other current liabilities and other liabilities     6.0 3.8  
Net cash provided by operating activities from continuing operations     25.0 65.5  
Net cash provided by (used in) operating activities from discontinued operations     0.2 (0.2)  
Net cash provided by operating activities     25.2 65.3  
Cash flows from investing activities:          
Purchases of property, plant and equipment     (2.2) (1.4)  
Purchase of Indoff LLC, net of cash acquired     (0.0) (72.3)  
Net cash used in investing activities     (2.2) (73.7)  
Cash flows from financing activities:          
Proceeds from short-term borrowings     0.0 50.6  
Repayment of short-term borrowings     (0.0) (10.9)  
Dividends paid     (19.2) (15.3)  
Proceeds from issuance of common stock     1.4 0.3  
Payment of payroll taxes on stock-based compensation through shares withheld     (1.5) (0.5)  
Proceeds from the issuance of common stock from employee stock purchase plan     0.8 0.7  
Net cash (used in) provided by financing activities     (18.5) 24.9  
Effects of exchange rates on cash     (0.1) (0.1)  
Net increase in cash     4.4 16.4  
Cash and cash equivalents – beginning of period     34.4 28.5 $ 28.5
Cash and cash equivalents – end of period $ 38.8 $ 44.9 38.8 44.9 34.4
Supplemental disclosures of non-cash investing and financing activities:          
Operating leases     $ 1.2 $ 5.9 $ 6.3