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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash provided (required) by operating activities of continuing operations:      
Net income (loss) $ 741.5 $ 737.1 $ 551.5
Discontinued operations, net of income taxes 97.2 68.2 28.3
Income (loss) from continuing operations 838.7 805.3 579.8
Adjustments from income (loss) from continuing operations to cash provided (required) by operating activities of continuing operations:      
Depreciation and amortization 169.4 170.9 162.7
Restructuring and other charges (income) 93.1 108.0 132.2
Deferred income taxes (52.7) 10.6 33.9
Pension and other postretirement benefits 12.5    
Share-based compensation 24.2 17.8 18.9
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:      
Trade receivables, net (443.9) (241.1) (71.8)
Guarantees of vendor financing (64.2) 65.6 64.8
Advance payments from customers 52.1 283.6 (145.5)
Accrued customer rebates 69.6 108.7 17.2
Inventories (182.3) (320.7) (54.4)
Accounts payable, trade and other 165.3 144.4 61.8
Income taxes 19.1 (90.3) 36.2
Pension and other postretirement benefit contributions (4.5) (5.3) (4.6)
Environmental spending, continuing, net of recoveries (26.9) (63.6) (1.9)
Restructuring and other spending [1] (35.2) (34.7) (17.9)
Transaction and integration costs (0.5) (9.5) (63.9)
Change in other operating assets and liabilities, net [2] 26.2 (61.6) (30.0)
Cash provided (required) by operating activities of continuing operations 660.0 898.6 736.8
Cash provided (required) by operating activities of discontinued operations:      
Environmental spending, discontinued, net of recoveries (47.0) (57.5) (58.9)
Operating activities of discontinued operations, net of divestiture costs 0.0 0.0 (0.2)
Other discontinued spending (30.6) (21.0) (29.9)
Cash provided (required) by operating activities of discontinued operations (77.6) (78.5) (89.0)
Cash provided (required) by investing activities of continuing operations:      
Capital expenditures (142.3) (100.1) (67.2)
Investment in Enterprise Resource Planning system 0.0 (12.7) (47.2)
Acquisitions, including cost and equity method, net [3] (198.2) (5.2) (65.6)
Proceeds from land disposition 50.5 0.0 0.0
Other investing activities [4] 23.6 (13.7) (20.4)
Cash provided (required) by investing activities of continuing operations (266.4) (131.7) (200.4)
Cash provided (required) by investing activities of discontinued operations:      
Proceeds from disposal of property, plant and equipment 0.0 19.7 31.1
Cash provided (required) by investing activities of discontinued operations 0.0 19.7 31.1
Cash provided (required) by financing activities of continuing operations:      
Increase (decrease) in short-term debt 115.2 104.9 97.0
Proceeds from borrowing of long-term debt 0.0 1,000.0 27.1
Financing fees and interest rate swap settlements 16.3 (2.4) (3.5)
Repayments of long-term debt (1.4) (1,203.1) (100.0)
Acquisitions of noncontrolling interests 0.0 0.0 (7.4)
Distributions to noncontrolling interests 0.0 0.0 (1.3)
Distributions to minority partners (0.5) 0.0 0.0
Dividends paid [5] (267.5) (247.2) (228.5)
Issuances of common stock, net 9.4 7.9 24.7
Repurchases of common stock under publicly announced program (100.0) (400.0) (50.0)
Other repurchases of common stock (8.9) (8.0) (8.4)
Cash provided (required) by financing activities of continuing operations (237.4) (747.9) (250.3)
Effect of exchange rate changes on cash and cash equivalents (23.4) (12.3) 1.6
Increase (decrease) in cash and cash equivalents 55.2 (52.1) 229.8
Cash and cash equivalents of continuing operations, beginning of period 516.8 568.9  
Cash and cash equivalents, beginning of period 516.8 568.9 339.1
Cash and cash equivalents, end of period $ 572.0 $ 516.8 $ 568.9
[1] In addition to cash payments shown in our roll forward of restructuring reserves in Note 9 to our consolidated financial statements included within this Form 10-K, the restructuring and other spending amount above for the years ended December 31, 2022 and 2021 includes spending of $10.0 million and $6.0 million, respectively, related to the Furadan® asset retirement obligations and $3.2 million and $4.4 million, respectively, for certain historical India indirect tax matters. The year ended December 31, 2022 includes $3.8 million of additional spending not included in our roll forward of restructuring reserves. For additional detail on restructuring and other charges activities, see Note 9 to our consolidated financial statements included within this Form 10-K.
[2] Changes in all periods represent timing of payments associated with all other operating assets and liabilities.
[3] In 2022, the purchase price of Biophero of approximately $193 million was primarily paid at closing on July 19, 2022. For additional detail on this transaction, see Note 9 to our consolidated financial statements included within this Form 10-K. The acquisitions, net amount in 2020 represents payments made on October 2, 2020 to acquire the remaining rights for Fluindapyr from Isagro S.p.A ("Isagro") in an asset acquisition.(4)During December 2022, we finalized a land transfer agreement with the Shanghai Municipal People's Government. We received cash proceeds of $50.5 million for the land transfer. For additional detail on this transaction, see Note 9 to our consolidated financial statements included within this Form 10-K.
[4] Included in the above is cash spending associated with contract manufacturers was $6.8 million, $18.8 million and $17.4 million for the years ended December 31, 2022, 2021 and 2020, respectively.
[5] See Note 17 to the consolidated financial statements included within this Form 10-K regarding our quarterly cash dividend.