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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 108.8 $ 84.5
Non-cash pre-tax expense:    
Depreciation 27.2 27.8
Amortization of intangible assets 10.3 10.0
Non-cash lease expense 7.4 8.7
Stock-based compensation 11.1 7.1
Deferred taxes 0.5 (2.0)
Asset impairment charges 9.5 1.7
Amortization of deferred financing fees 0.9 0.8
Equity in losses of affiliate 0.3  
Gain on equity investments (6.6)  
Gain on sale of property, plant and equipment (0.1) (0.9)
Changes in assets and liabilities:    
Increase in accounts receivable (81.3) (76.8)
Decrease (increase) in inventories 9.6 (57.2)
Decrease in accounts payable (25.6) (12.2)
Increase in other assets (7.4) (15.6)
Decrease in accrued expenses and other liabilities (92.9) (87.2)
Increase in accrued taxes 14.5 21.6
Net cash used in operating activities (13.8) (89.7)
Investing activities    
Capital expenditures [1] (26.9) (27.2)
Proceeds from the disposition of assets 1.5 1.9
Cost of investments in equity securities (51.6)  
Net cash used in investing activities (77.0) (25.3)
Financing activities    
Decrease in short-term debt   (175.0)
Issuance of long-term debt 380.0 520.0
Repayment of long-term debt (130.0) (160.0)
Proceeds from the exercise of stock options 18.4 2.9
Treasury stock purchases [2] (150.0) (18.0)
Employee withholding taxes related to stock-based compensation (7.6) (7.7)
Deferred acquisition payments   (1.8)
Dividends to stockholders (33.5) (31.0)
Net cash provided by financing activities 77.3 129.4
Effect of foreign exchange rate changes on cash (15.0) 3.8
Net (decrease) increase in cash and cash equivalents (28.5) 18.2
Cash, cash equivalents and restricted cash at beginning of period [3] 394.9 270.7
Cash, cash equivalents and restricted cash at end of period [3] $ 366.4 $ 288.9
[1] Capital expenditures of $4.9 million and $10.6 million that had not been paid as of March 31, 2020 and 2019, respectively, were excluded from the Statement of Cash Flows.
[2] Treasury stock purchases for the three months ended March 31, 2019 excludes $10.0 million of purchases made in March 2019 that were not settled until April 2019.
[3] Restricted cash of $0.8 million and $5.9 million is included in Other current assets and Other assets, respectively, as of March 31, 2020 and restricted cash of $0.8 million and $6.9 million is included in Other current assets and Other assets, respectively, as of March 31, 2019.  Restricted cash of $0.8 million and $6.1 million is included in Other current assets and Other assets, respectively, as of December 31, 2019.