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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Operating activities:  
Net income$ 280.1$ 157.1
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization expense98.788.9
Deferred income tax benefit(3.8)(2.9)
(Gain) loss on sales of property, plant and equipment(2.6)0.8
Equity in earnings of unconsolidated entities(1.6)(0.2)
Dividends received from unconsolidated entities2.50.3
Share based compensation expense16.412.7
Tax deficit (excess benefit) from share based compensation0.2(3.3)
Net loss from life insurance policies3.80.9
Changes in operating assets and liabilities (excluding effect of businesses acquired):  
Accounts receivable(270.7)(227.2)
Inventories(294.6)(200.6)
Prepaid expenses and other assets29.338.5
Accounts payable and other liabilities159.6182.7
Net cash provided by operating activities17.347.7
Investing activities:  
Purchases of property, plant and equipment(112.7)(65.8)
Acquisition of a metals service center, net of cash acquired(306.5) 
Proceeds from sales of property, plant and equipment9.11.1
Net proceeds from redemption of life insurance policies3.63.9
Net cash used in investing activities(406.5)(60.8)
Financing activities:  
Net short-term debt (repayments) borrowings(102.8)3.9
Proceeds from long-term debt borrowings913.0427.0
Principal payments on long-term debt(379.5)(272.8)
Debt issuance costs(7.3) 
Payments to noncontrolling interest holders(2.6)(1.0)
Capital contributions from noncontrolling interests 0.2
Dividends paid(26.9)(22.2)
(Tax deficit) excess benefit from share based compensation(0.2)3.3
Exercise of stock options9.617.4
Net cash provided by financing activities403.3155.8
Effect of exchange rate changes on cash4.10.8
Increase in cash and cash equivalents18.2143.5
Cash and cash equivalents at beginning of year72.943.0
Cash and cash equivalents at end of period91.1186.5
Supplemental cash flow information:  
Interest paid during the period33.833.0
Income taxes paid during the period111.547.1
Non-cash investing and financing activities:  
Debt assumed in connection with an acquisition of a metals service center$ 104.8