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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 232.6 $ 137.0
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 53.6 54.7
Amortization of intangibles 14.8 15.3
Stock compensation expense 14.0 7.0
Impairment charges 0.0 36.0
Equity in net earnings of affiliates, net of cash received (16.4) (11.1)
Deferred income tax benefit (3.9) (5.0)
Other 2.4 (8.8)
Changes in operating assets and liabilities:    
Accounts and notes receivable, net (298.1) (113.3)
Inventories, net (402.6) (595.2)
Other current and noncurrent assets (69.9) (48.7)
Accounts payable 39.2 193.4
Accrued expenses (155.9) (219.5)
Other current and noncurrent liabilities 33.1 (18.3)
Total adjustments (789.7) (713.5)
Net cash used in operating activities (557.1) (576.5)
Cash flows from investing activities:    
Purchases of property, plant and equipment (125.3) (66.3)
Proceeds from sale of property, plant and equipment 0.1 0.3
Investments in unconsolidated affiliates (0.1) (0.1)
Purchase businesses, net, and net of cash acquired (0.9) (61.9)
Other (2.6) 0.0
Net cash used in investing activities (128.8) (128.0)
Cash flows from financing activities:    
Proceeds from indebtedness 501.7 980.7
Repayments of indebtedness (4.4) (459.1)
Payment of dividends to stockholders (18.0) (14.9)
Payment of minimum tax withholdings on stock compensation (17.7) (16.0)
Distributions to noncontrolling interest 0.0 (11.6)
Net cash provided by financing activities 461.6 479.1
Effects of exchange rate changes on cash, cash equivalents and restricted cash (6.5) (8.0)
Decrease in cash, cash equivalents and restricted cash (230.8) (233.4)
Cash, cash equivalents and restricted cash, beginning of period 789.5 889.1
Cash, cash equivalents and restricted cash, end of period $ 558.7 $ 655.7