XML 22 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from (used in) operating activities:      
Net income $ 65.3 $ 81.2 $ 89.3
Less: Income (loss) from discontinued operations, net of tax (4.4) 3.0 5.3
Income from continuing operations 69.7 78.2 84.0
Adjustments to reconcile income from continuing operations to net cash from (used in) operating activities      
Special charges, net 4.0 6.3 2.7
Gain on change in fair value of equity security (7.9) 0.0 0.0
Loss on amendment/refinancing of senior credit agreement 0.6 0.4 0.9
Deferred and other income taxes 14.8 (0.3) (21.0)
Depreciation and amortization 34.5 29.2 25.2
Pension and other employee benefits 20.2 13.7 14.9
Long-term incentive compensation 13.6 15.5 15.8
Other, net 2.3 2.3 4.7
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable and other assets 75.5 52.6 (103.5)
Inventories (8.5) 5.1 4.5
Accounts payable, accrued expenses and other (61.7) (86.5) 28.3
Cash spending on restructuring actions (4.2) (3.6) (3.0)
Net cash from continuing operations 152.9 112.9 53.5
Net cash used in discontinued operations (4.3) (2.3) (6.6)
Net cash from operating activities 148.6 110.6 46.9
Cash flows from (used in) investing activities:      
Proceeds from asset sales 5.5 9.5 0.0
Proceeds (expenditures) related to company-owned life insurance policies, net 5.9 (0.8) 0.7
(Increase) decrease in restricted cash (0.2) 0.3  
(Increase) decrease in restricted cash     (0.3)
Business acquisitions, net of cash acquired (147.1) (180.8) 0.0
Capital expenditures (17.8) (12.4) (11.0)
Net cash used in continuing operations (153.7) (184.2) (10.6)
Net cash from discontinued operations 0.0 3.6 0.0
Net cash used in investing activities (153.7) (180.6) (10.6)
Cash flows from (used in) financing activities:      
Borrowings under senior credit facilities 593.8 199.4 404.6
Repayments under senior credit facilities (560.2) (193.0) (395.8)
Borrowings under trade receivables agreement 93.0 123.0 74.0
Repayments under trade receivables agreement (116.0) (100.0) (74.0)
Net repayments under other financing arrangements (0.6) (4.8) (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 (3.9) (7.8) (1.3)
Financing fees paid (1.6) 0.0 (3.6)
Purchase of subsidiary shares (15.6) 0.0 0.0
Net cash from (used in) continuing operations (11.1) 16.8 (6.2)
Net cash from (used in) discontinued operations 0.0 0.0 0.0
Net cash from (used in) financing activities (11.1) 16.8 (6.2)
Change in cash and equivalents due to changes in foreign currency exchange rates 2.1 (2.3) (5.4)
Net change in cash and equivalents (14.1) (55.5) 24.7
Consolidated cash and equivalents, beginning of period 68.8 124.3 99.6
Consolidated cash and equivalents, end of period 54.7 68.8 124.3
Supplemental disclosure of cash flow information:      
Interest paid 16.1 19.7 15.1
Income tax refunds (payments), net (7.0) 44.3 (22.9)
Non-cash investing and financing activity:      
Debt assumed $ 1.3    
Debt assumed   $ 0.2 $ 0.9