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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash provided (required) by operating activities of continuing operations:    
Net income (loss) $ 391.2 $ 393.5
Discontinued operations, net of income taxes 18.3 8.5
Income (loss) from continuing operations 409.5 402.0
Adjustments from income from continuing operations to cash provided (required) by operating activities of continuing operations:    
Depreciation and amortization 79.2 74.5
Restructuring and other charges (income) 32.9 20.5
Deferred income taxes (0.6) (2.6)
Pension and other postretirement benefits 6.7 9.3
Share-based compensation 11.3 12.9
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:    
Trade receivables, net (131.5) (229.1)
Guarantees of vendor financing 32.9 4.4
Advance payments from customers (486.1) (389.2)
Accrued customer rebates 202.6 173.2
Inventories (132.4) (127.0)
Accounts payable, trade and other (65.1) (9.2)
Income taxes 29.9 (53.0)
Pension and other postretirement benefit contributions (2.2) (2.2)
Environmental spending, continuing, net of recoveries 12.2 (7.2)
Restructuring and other spending (1) [1] (7.3) (10.2)
Transaction-related charges (39.5) (43.1)
Change in other operating assets and liabilities, net [2] (0.9) (40.8)
Cash provided (required) by operating activities of continuing operations (48.4) (216.8)
Cash provided (required) by operating activities of discontinued operations:    
Environmental spending, discontinued, net of recoveries (31.4) (11.0)
Other discontinued spending (13.7) (10.2)
Operating activities of discontinued operations, net of divestiture costs (0.2) 12.5
Cash provided (required) by operating activities of discontinued operations (45.3) (8.7)
Cash provided (required) by investing activities of continuing operations:    
Capital expenditures (23.2) (35.5)
Investment in Enterprise Resource Planning system (30.6) (26.7)
Other investing activities (20.6) (0.9)
Cash provided (required) by investing activities of continuing operations (74.4) (63.1)
Cash provided (required) by investing activities of discontinued operations:    
Proceeds from disposal of property, plant and equipment 1.1 26.2
Other discontinued investing activities 0.0 (17.0)
Cash provided (required) by investing activities of discontinued operations 1.1 9.2
Cash provided (required) by financing activities of continuing operations:    
Increase (decrease) in short-term debt 269.5 548.7
Repayments of long-term debt 0.0 (1.0)
Financing fees (3.5) (1.1)
Proceeds from borrowings of long-term debt 17.1 0.0
Issuances of common stock, net 13.4 14.6
Dividends paid [3] (114.1) (106.0)
Repurchases of common stock under publicly announced program 0.0 (200.0)
Other repurchases of common stock (7.5) (16.1)
Cash provided (required) by financing activities of continuing operations 174.9 239.1
Cash provided (required) by financing activities of discontinued operations:    
Payment of Livent external debt 0.0 (27.0)
Cash transfer to Livent due to spin 0.0 (10.2)
Cash provided (required) by financing activities of discontinued operations 0.0 (37.2)
Effect of exchange rate changes on cash and cash equivalents (4.3) (0.8)
Increase (decrease) in cash and cash equivalents 3.6 (78.3)
Cash and cash equivalents of continuing operations, beginning of period 342.7 83.4
Cash and cash equivalents of discontinued operations, beginning of period 0.0 27.3
Cash and cash equivalents, beginning of period $ 339.1 $ 161.7
[1] The restructuring and other spending amount includes spending of $2.7 million related to the Furadan® asset retirement obligations. For detail on restructuring activities which commenced prior to 2020, see Note 9 to our consolidated financial statements included within our 2019 Form 10-K.
[2] Changes in all periods primarily represent timing of payments associated with all other operating assets and liabilities.
[3] See Note 15 regarding the quarterly cash dividend.