XML 22 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows
$ in Millions
 12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Cash flows from (used in) operating activities:      
Net income (loss) $ 81.2 $ 89.3 $ (67.6)
Less: Income (loss) from discontinued operations, net of tax 3.0 5.3 (97.9)
Income from continuing operations 78.2 84.0 30.3
Adjustments to reconcile income from continuing operations to net cash from (used in) operating activities      
Special charges, net 6.3 2.7 5.3
Gain on asset sales 0.0 0.0 (0.9)
Gain on sale of dry cooling business 0.0 0.0 (18.4)
Impairment of intangible assets 0.0 0.0 30.1
Loss on amendment/refinancing of senior credit agreement 0.4 0.9 1.3
Deferred and other income taxes (0.3) (21.0) 0.0
Depreciation and amortization 29.2 25.2 26.5
Pension and other employee benefits 13.7 14.9 24.8
Long-term incentive compensation 15.5 15.8 13.7
Other, net 2.3 4.7 3.2
Changes in operating assets and liabilities, net of effects from acquisitions and divestitures:      
Accounts receivable and other assets 52.6 (103.5) (36.4)
Inventories 5.1 4.5 8.5
Accounts payable, accrued expenses and other (86.5) 28.3 (40.2)
Cash spending on restructuring actions (3.6) (3.0) (2.1)
Net cash from continuing operations 112.9 53.5 45.7
Net cash used in discontinued operations (2.3) (6.6) (46.9)
Net cash from (used in) operating activities 110.6 46.9 (1.2)
Cash flows from (used in) investing activities:      
Proceeds from asset sales 9.5 0.0 48.1
Proceeds (expenditures) related to company-owned life insurance policies, net (0.8) 0.7 7.7
(Increase) decrease in restricted cash 0.3 (0.3) 0.0
Business acquisitions, net of cash acquired (180.8) 0.0 0.0
Capital expenditures (12.4) (11.0) (11.7)
Net cash from (used in) continuing operations (184.2) (10.6) 44.1
Net cash used in discontinued operations (includes cash divested with the sale of Balcke Dürr of $30.2 in 2016) 3.6 0.0 (30.9)
Net cash from (used in) investing activities (180.6) (10.6) 13.2
Cash flows from (used in) financing activities:      
Borrowings under senior credit facilities 199.4 404.6 56.2
Repayments under senior credit facilities (193.0) (395.8) (65.0)
Borrowings under trade receivables agreement 123.0 74.0 72.0
Repayments under trade receivables agreement (100.0) (74.0) (72.0)
Net repayments under other financing arrangements (4.8) (10.1) (10.1)
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other (7.8) (1.3) (1.6)
Financing fees paid 0.0 (3.6) 0.0
Net cash from (used in) continuing operations 16.8 (6.2) (20.5)
Net cash from (used in) discontinued operations 0.0 0.0 0.0
Net cash from (used in) financing activities 16.8 (6.2) (20.5)
Change in cash and equivalents due to changes in foreign currency exchange rates (2.3) (5.4) 6.7
Net change in cash and equivalents (55.5) 24.7 (1.8)
Consolidated cash and equivalents, beginning of period 124.3 99.6 101.4
Consolidated cash and equivalents, end of period 68.8 124.3 99.6
Cash and equivalents of continuing operations 68.8 124.3 99.6
Supplemental disclosure of cash flow information:      
Interest paid 19.7 15.1 12.5
Income tax refunds (payments), net 44.3 (22.9) (4.8)
Non-cash investing and financing activity:      
Debt assumed $ 0.2 $ 0.9 $ 3.9