XML 24 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 189.3 $ 160.2 $ 264.0
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 222.8 223.4 217.4
Deferred debt issuance cost amortization 0.7 1.0 2.0
Amortization of intangibles 57.0 51.2 42.7
Stock compensation expense 38.2 18.1 12.2
Proceeds from termination of hedging instrument 0.0 7.3 0.0
Equity in net earnings of affiliates, net of cash received 41.2 (1.4) (19.0)
Deferred income tax (benefit) provision (14.1) 2.1 (26.8)
Other 2.3 1.3 (0.1)
Changes in operating assets and liabilities, net of effects from purchase of businesses:      
Accounts and notes receivable, net (34.7) (4.5) 3.8
Inventories, net (196.0) (33.1) 117.6
Other current and noncurrent assets (36.6) (98.7) (49.3)
Accounts payable 123.5 62.8 37.3
Accrued expenses 149.0 47.0 (34.8)
Other current and noncurrent liabilities 35.0 (67.2) (42.8)
Total adjustments 388.3 209.3 260.2
Net cash provided by operating activities 577.6 369.5 524.2
Cash flows from investing activities:      
Purchases of property, plant and equipment (203.9) (201.0) (211.4)
Proceeds from sale of property, plant and equipment 4.1 2.4 1.5
Purchase of businesses, net of cash acquired (293.1) (383.8) (25.4)
Investment in consolidated affiliates, net of cash acquired 0.0 (11.8) 0.0
Investments in unconsolidated affiliates (0.8) (4.5) (3.8)
Restricted cash and other 0.0 0.4 (1.7)
Net cash used in investing activities (493.7) (598.3) (240.8)
Cash flows from financing activities:      
Proceeds from debt obligations 3,513.9 3,117.9 1,951.9
Repayments of debt obligations (3,639.7) (2,622.4) (1,769.5)
Purchases and retirement of common stock 0.0 (212.5) (287.5)
Payment of dividends to stockholders (44.5) (42.5) (42.0)
Payment of minimum tax withholdings on stock compensation (6.9) (2.0) (6.3)
Payment of debt issuance costs 0.0 (2.5) (0.7)
Excess tax benefit related to stock compensation 0.0 0.0 0.7
Investments by noncontrolling interests 0.5 0.4 0.0
Net cash (used in) provided by financing activities (176.7) 236.4 (153.4)
Effects of exchange rate changes on cash and cash equivalents 30.8 (4.6) (67.0)
(Decrease) increase in cash and cash equivalents (62.0) 3.0 63.0
Cash and cash equivalents, beginning of year 429.7 426.7 363.7
Cash and cash equivalents, end of year $ 367.7 $ 429.7 $ 426.7