XML 39 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net income $ 111.8 $ 85.8
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 100.6 95.0
Deferred income taxes 10.1 4.9
Stock-based compensation 7.7 4.6
Pensions and other postretirement benefits, net of contributions 0.2 1.4
Loss (gain) on disposal of property, plant and equipment, net 0.8 (4.0)
Changes in operating assets and liabilities    
Accounts receivable (110.7) (187.3)
Inventories 8.3 8.4
Accounts payable and accrued expenses 59.9 53.1
Deferred revenue (20.4) 35.6
Other assets and liabilities (14.0) (15.1)
Net cash provided by operating activities 154.3 82.4
Investing activities    
Purchases of property, plant and equipment (91.4) (103.7)
Proceeds from sale of property, plant and equipment 0.1 8.3
Net cash used in investing activities (91.3) (95.4)
Financing activities    
Net short-term borrowings under credit facilities 0.0 (2.0)
Payments of long-term debt and capital lease obligations (17.3) (14.2)
Proceeds from issuance of long-term debt 12.9 2.8
Debt issuance costs 0.0 (0.3)
Purchase of treasury stock (2.7) (0.3)
Employee stock option exercises 0.4 1.2
Net cash used in financing activities (6.7) (12.8)
Effect of exchange rate changes on cash (4.2) 0.7
Net increase (decrease) in cash and cash equivalents 52.1 (25.1)
Cash and cash equivalents at beginning of period 249.2 154.0
Cash and cash equivalents at end of period 301.3 128.9
Supplemental cash flow information    
Interest paid 47.2 41.9
Income taxes paid, net of refunds $ 7.9 $ 5.7