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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 435.8 $ 126.3
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 109.9 102.3
Amortization of intangibles 31.7 29.9
Stock compensation expense 15.2 12.7
Goodwill impairment charge 0.0 20.0
Equity in net earnings of affiliates, net of cash received (32.6) (20.7)
Deferred income tax (benefit) provision (65.5) 2.8
Other 9.2 11.2
Changes in operating assets and liabilities:    
Accounts and notes receivable, net (265.5) (181.0)
Inventories, net (721.5) (210.6)
Other current and noncurrent assets (73.3) (62.3)
Accounts payable 320.5 (60.9)
Accrued expenses (0.8) (67.9)
Other current and noncurrent liabilities 112.0 76.6
Total adjustments (560.7) (347.9)
Net cash used in operating activities (124.9) (221.6)
Cash flows from investing activities:    
Purchases of property, plant and equipment (120.6) (117.5)
Proceeds from sale of property, plant and equipment 2.4 0.5
Investments in unconsolidated affiliates (1.0) (3.1)
(Purchase) sale of businesses, net of cash acquired 5.4 0.0
Other (2.4) 0.0
Net cash used in investing activities (116.2) (120.1)
Cash flows from financing activities:    
Proceeds from indebtedness 909.4 1,136.5
Repayments of indebtedness (905.4) (708.9)
Purchases and retirement of common stock 0.0 (55.0)
Payment of dividends to stockholders (328.6) (24.0)
Payment of minimum tax withholdings on stock compensation (33.6) (16.1)
Payment of debt issuance costs 0.0 (1.4)
Distributions to noncontrolling interest (3.5) 0.0
Net cash (used in) provided by financing activities (361.7) 331.1
Effects of exchange rate changes on cash, cash equivalents and restricted cash (16.1) (17.8)
Decrease in cash, cash equivalents and restricted cash (618.9) (28.4)
Cash, cash equivalents and restricted cash, beginning of period 1,119.1 432.8
Cash, cash equivalents and restricted cash, end of period $ 500.2 $ 404.4