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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net income $ 78.4 $ 61.1
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 56.2 49.8
Deferred income taxes (5.4) 7.4
Stock-based compensation 5.5 5.2
Pensions and other postretirement benefits, net of contributions (1.7) (1.8)
Loss on disposal of property, plant and equipment, net 0.5 0.6
Undistributed earnings in affiliate (0.9) (0.8)
Changes in operating assets and liabilities    
Accounts receivable (137.6) (102.8)
Inventories 3.0 2.5
Accounts payable and accrued expenses 91.8 48.4
Deferred revenue 1.8 (4.2)
Other assets and liabilities (29.3) (39.2)
Net cash provided by operating activities 62.3 26.2
Investing activities    
Purchases of property, plant and equipment (34.9) (50.6)
Proceeds from sale of property, plant and equipment 0.8 0.6
Purchase buyouts of leased equipment (2.3) 0.0
Proceeds from sale of business, net 5.9 0.0
Acquisition of business, net (144.1) 0.0
Net cash used in investing activities (174.6) (50.0)
Financing activities    
Payments of long-term debt and capital lease obligations (10.2) (1.6)
Proceeds from issuance of long-term debt 1,209.4 6.2
Debt issuance costs (21.2) 0.0
Purchase of treasury stock (5.2) (3.5)
Net cash provided by financing activities 1,172.8 1.1
Effect of exchange rate changes on cash 1.7 2.2
Net increase (decrease) in cash and cash equivalents 1,062.2 (20.5)
Cash and cash equivalents at beginning of period 481.2 282.5
Cash and cash equivalents at end of period 1,543.4 262.0
Supplemental cash flow information    
Interest paid 17.9 17.8
Income taxes paid, net of refunds $ 4.7 $ 31.6