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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net income $ 7.1 $ 20.5
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 112.2 117.8
Deferred income taxes (1.9) 2.4
Stock-based compensation 3.9 3.8
Pensions and other postretirement benefits, net of contributions (0.6) (1.0)
Loss on disposal of property, plant and equipment, net 0.4 2.7
Gain on equity securities 0.0 (0.1)
Gain on Business Combination derivative (21.9) 0.0
Debt refinancing and redemption costs 3.3 0.0
Changes in operating assets and liabilities    
Accounts receivable (113.0) (147.3)
Inventories 14.7 1.9
Accounts payable and accrued expenses 46.5 51.1
Deferred revenue 15.5 (0.8)
Other assets and liabilities (10.3) (33.2)
Net cash provided by operating activities 55.9 17.8
Investing activities    
Purchases of property, plant and equipment (69.3) (48.0)
Proceeds from sale of property, plant and equipment 0.6 3.1
Proceeds from disposition of affiliates 30.1 0.0
Acquisition of business, net of cash acquired (0.6) (0.6)
Other investing activities (1.0) (2.7)
Net cash used in investing activities (40.2) (48.2)
Financing activities    
Proceeds from issuance of long-term debt 1.3 0.0
Payments of long-term debt (5.5) (10.1)
Debt issuance costs (11.6) 0.0
Purchase of treasury stock (2.7) (2.7)
Other financing activities (5.5) (3.2)
Net cash used in financing activities (24.0) (16.0)
Effect of exchange rate changes on cash 4.6 (3.7)
Net decrease in cash and cash equivalents (3.7) (50.1)
Cash and cash equivalents at beginning of period 552.9 519.9
Cash and cash equivalents at end of period 549.2 469.8
Supplemental cash flow information    
     Interest paid 36.2 47.8
     Income taxes paid, net $ 15.2 $ 11.5