XML 21 R8.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 263.5 $ 31.9
Depreciation and amortization 64.3 53.3
Stock-based incentive compensation 15.6 13.5
Loss on sale of business, net of tax 11.0  
Deferred income taxes (75.6) 8.4
(Gain) loss on sale of assets 0.1 (1.7)
Unrealized (gain) loss on investments (1.1) 11.2
Foreign currency transaction (gains) losses (3.3) 2.4
Other non-cash adjustments 7.0 2.6
Changes in operating assets and liabilities (328.1) (144.5)
Net cash used in operating activities (46.6) (22.9)
Investing activities:    
Additions to property, plant and equipment (129.8) (110.3)
Acquisition of business, net of cash acquired (187.9) (19.5)
Proceeds from sale of business, net of cash sold 22.5  
Other investing activities (0.2) (9.4)
Net cash used in investing activities (295.4) (139.2)
Financing activities:    
Proceeds from debt (original maturities greater than three months)   10.4
Repayments of debt (original maturities greater than three months) (25.2) (225.0)
Repurchases of Common Stock (22.6) (155.0)
Dividends paid (53.6) (48.9)
Other financing activities (7.7) (6.9)
Net cash used in financing activities (109.1) (425.4)
Effect of exchange rate changes on cash and cash equivalents 0.7 (10.8)
Decrease in cash and cash equivalents (450.4) (598.3)
Cash and cash equivalents at beginning of period 805.9 995.7
Cash and cash equivalents at end of period 355.5 397.4
Supplemental disclosures:    
Cash paid for interest 22.3 23.2
Cash paid for income taxes 108.0 205.7
Cash received from income tax refunds 1.5 0.9
Cash paid for operating lease liabilities 27.2 24.3
Operating right-of-use assets obtained 17.2 3.3
Noncash additions to property, plant and equipment $ 53.2 $ 20.4