XML 39 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities    
Net income $ 172.7 $ 129.8
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 149.7 146.1
Deferred income taxes 16.0 6.8
Stock-based compensation 11.8 7.1
Pensions and other postretirement benefits, net of contributions (1.4) 0.6
Loss (gain) on disposal of property, plant and equipment, net 3.8 (4.0)
Changes in operating assets and liabilities    
Accounts receivable (119.5) (142.5)
Inventories 9.2 12.3
Accounts payable and accrued expenses 68.5 68.4
Deferred revenue (19.4) 31.1
Other assets and liabilities (23.3) (24.1)
Net cash provided by operating activities 268.1 231.6
Investing activities    
Purchases of property, plant and equipment (132.1) (156.2)
Proceeds from sale of property, plant and equipment 0.2 8.5
Net cash used in investing activities (131.9) (147.7)
Financing activities    
Net short-term borrowings under credit facilities 0.0 (3.1)
Payments of long-term debt and capital lease obligations (19.1) (16.4)
Proceeds from issuance of long-term debt 13.4 2.8
Debt issuance costs 0.0 (0.3)
Purchase of treasury stock (2.9) (0.3)
Employee stock option exercises 0.5 1.2
Net cash used in financing activities (8.1) (16.1)
Effect of exchange rate changes on cash (11.7) (2.8)
Net increase in cash and cash equivalents 116.4 65.0
Cash and cash equivalents at beginning of period 249.2 154.0
Cash and cash equivalents at end of period 365.6 219.0
Supplemental cash flow information    
Interest paid 66.1 63.7
Income taxes paid, net of refunds $ 9.6 $ 9.0