XML 21 R8.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from (used in) operating activities:      
Net income $ 97.2 $ 65.3 $ 81.2
Less: Loss from discontinued operations, net of tax (3.5) (5.8) (0.7)
Income from continuing operations 100.7 71.1 81.9
Adjustments to reconcile income from continuing operations to net cash from operating activities      
Special charges, net 3.2 4.4 3.7
Gain on change in fair value of equity security (8.6) (7.9) 0.0
Loss on amendment/refinancing of senior credit agreement 0.0 0.6 0.4
Impairment of intangible assets 0.7 0.0 0.0
Deferred and other income taxes 11.3 15.2 0.9
Depreciation and amortization 41.7 34.2 27.9
Pension and other employee benefits 14.3 20.2 13.7
Long-term incentive compensation 14.0 13.6 15.5
Other, net 4.1 2.6 2.3
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable and other assets 2.8 72.0 42.6
Inventories (2.2) (8.9) 2.9
Accounts payable, accrued expenses and other (48.1) (60.0) (77.1)
Cash spending on restructuring actions (2.8) (2.9) (3.2)
Net cash from continuing operations 131.1 154.2 111.5
Net cash used in discontinued operations (4.8) (5.6) (0.9)
Net cash from operating activities 126.3 148.6 110.6
Cash flows from (used in) investing activities:      
Proceeds from asset sales and other 0.0 (0.2) 5.0
Proceeds (expenditures) related to company-owned life insurance policies, net (0.2) 5.9 (0.8)
Business acquisitions, net of cash acquired (104.4) (147.1) (180.8)
Capital expenditures (21.5) (17.8) (12.4)
Net cash used in continuing operations (126.1) (159.2) (189.0)
Net cash from discontinued operations 0.0 5.5 8.4
Net cash used in investing activities (126.1) (153.7) (180.6)
Cash flows from (used in) financing activities:      
Borrowings under senior credit facilities 197.6 593.8 199.4
Repayments under senior credit facilities (207.8) (560.2) (193.0)
Borrowings under trade receivables agreement 134.4 93.0 123.0
Repayments under trade receivables agreement (106.4) (116.0) (100.0)
Net repayments under other financing arrangements (2.2) (0.6) (4.8)
Payment of contingent consideration (1.5) 0.0 0.0
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other 1.8 (3.9) (7.8)
Financing fees paid 0.0 (1.6) 0.0
Purchase of subsidiary shares 0.0 (15.6) 0.0
Net cash from (used in) continuing operations 15.9 (11.1) 16.8
Net cash from (used in) discontinued operations 0.0 0.0 0.0
Net cash from (used in) financing activities 15.9 (11.1) 16.8
Change in cash and equivalents due to changes in foreign currency exchange rates (2.5) 2.1 (2.3)
Net change in cash and equivalents 13.6 (14.1) (55.5)
Consolidated cash and equivalents, beginning of period 54.7 68.8 124.3
Consolidated cash and equivalents, end of period 68.3 54.7 68.8
Supplemental disclosure of cash flow information:      
Interest paid 17.5 16.1 19.7
Income tax refunds (payments), net (7.6) (7.0) 44.3
Non-cash investing and financing activity:      
Debt assumed 1.2 1.3  
Debt assumed $ 2.9 $ 1.3 $ 0.2