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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Net income (loss) $ (226,200,000) $ 136,100,000 $ 163,100,000
(Income) loss from discontinued operations, net of income taxes 100,000 3,100,000 (54,100,000)
Depreciation and amortization 266,000,000.0 283,600,000 251,900,000
Stock-based compensation expense 26,900,000 29,200,000 29,200,000
Provision for deferred income taxes 226,100,000 54,800,000 57,900,000
Net gains on railcar lease fleet sales owned more than one year at the time of sale (17,300,000) (50,500,000) (50,400,000)
(Gains) losses on dispositions of property and other assets (5,500,000) (3,900,000) 9,000,000.0
Pension plan settlement (151,500,000) 0 0
Impairment of long-lived assets 396,400,000 0 0
Non-cash impact of restructuring activities 5,300,000 10,900,000 0
Non-cash interest expense 13,700,000 16,700,000 18,100,000
Loss on early extinguishment of debt 5,000,000.0 0 0
Other 100,000 (4,300,000) (8,000,000.0)
(Increase) decrease in receivables 59,000,000.0 15,200,000 (72,100,000)
(Increase) decrease in income tax receivable (431,100,000) 25,700,000 (16,400,000)
(Increase) decrease in inventories 105,300,000 91,300,000 (122,000,000.0)
(Increase) decrease in other assets 146,100,000 (114,500,000) (77,300,000)
Increase (decrease) in accounts payable (47,500,000) (10,000,000.0) 92,700,000
Increase (decrease) in accrued liabilities (31,100,000) (82,600,000) 51,500,000
Increase (decrease) in other liabilities 9,000,000.0 (4,100,000) 1,100,000
Net cash provided by operating activities – continuing operations 651,800,000 396,700,000 274,200,000
Net cash provided by (used in) operating activities – discontinued operations (100,000) (3,100,000) 104,900,000
Net cash provided by operating activities 651,700,000 393,600,000 379,100,000
Decrease in short-term marketable securities 0 0 319,500,000
Proceeds from dispositions of property and other assets 32,900,000 20,200,000 17,100,000
Proceeds from railcar lease fleet sales owned more than one year at the time of sale 138,700,000 205,700,000 230,500,000
Capital expenditures – leasing, net of sold lease fleet railcars owned one year or less with a net cost of $54.0, $319.3, and $92.4 (602,200,000) (1,122,200,000) (948,300,000)
Capital expenditures – manufacturing and other (102,300,000) (97,000,000.0) (37,300,000)
Payments for (Proceeds from) Other Investing Activities 0 0 6,200,000
Net cash used in investing activities – continuing operations (532,900,000) (993,300,000) (412,300,000)
Net cash used in investing activities – discontinued operations 0 0 (78,200,000)
Net cash used in investing activities (532,900,000) (993,300,000) (490,500,000)
Payments to retire debt (1,442,900,000) (1,724,100,000) (887,800,000)
Proceeds from issuance of debt 1,561,400,000 2,567,800,000 1,206,600,000
Shares repurchased (191,300,000) (224,700,000) (506,100,000)
Dividends paid to common stockholders (91,700,000) (82,100,000) (77,400,000)
Purchase of shares to satisfy employee tax on vested stock (9,500,000) (8,200,000) (12,200,000)
Contributions from (distributions to) noncontrolling interest (6,100,000) 2,200,000 10,900,000
Proceeds from (Payments for) Other Financing Activities (100,000) 0 (3,300,000)
Net cash provided by (used in) financing activities – continuing operations (168,000,000.0) 526,500,000 (291,100,000)
Cash distributions to Arcosa, Inc. 0 0 (220,500,000)
Net cash provided by (used in) financing activities (168,000,000.0) 526,500,000 (511,600,000)
Net decrease in cash, cash equivalents, and restricted cash (49,200,000) (73,200,000) (623,000,000.0)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 228,400,000 277,600,000 350,800,000
Interest paid 205,500,000 208,100,000 158,900,000
Income tax payments (refunds) (62,500,000) (16,700,000) 4,100,000
Distribution of noncash net assets to Arcosa, Inc. 0 0 1,534,900,000
Debt assumed in railcar purchase from unrelated seller $ 0 $ 0 $ 283,900,000