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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash provided (required) by operating activities of continuing operations:    
Net income (loss) $ (3.1) $ 195.9
Discontinued operations, net of income taxes 12.5 11.5
Income (loss) from continuing operations 9.4 207.4
Adjustments from income from continuing operations to cash provided (required) by operating activities of continuing operations:    
Depreciation and amortization 45.7 44.7
Restructuring and other charges (income) 40.9 12.5
Deferred income taxes (56.7) (5.6)
Pension and other postretirement benefits 5.0 5.4
Share-based compensation 7.5 7.3
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:    
Trade receivables, net (143.6) (288.8)
Guarantees of vendor financing 10.8 (27.1)
Advance payments from customers (393.4) (665.9)
Accrued customer rebates 193.2 271.4
Inventories 127.3 (257.9)
Accounts payable, trade and other 1.6 (53.9)
Income taxes 27.4 23.0
Pension and other postretirement benefit contributions (0.5) (0.6)
Environmental spending, continuing, net of recoveries (5.2) (5.6)
Restructuring and other spending [1] (42.4) (2.1)
Change in other operating assets and liabilities, net [2] 30.1 (115.5)
Cash provided (required) by operating activities of continuing operations (142.9) (851.3)
Cash provided (required) by operating activities of discontinued operations:    
Environmental spending, discontinued, net of recoveries (15.7) (6.4)
Other discontinued spending (5.8) (6.2)
Cash provided (required) by operating activities of discontinued operations (21.5) (12.6)
Cash provided (required) by investing activities of continuing operations:    
Capital expenditures (20.7) (46.9)
Acquisitions, including cost and equity method, net (0.3) (3.1)
Other investing activities (2.7) (4.4)
Cash provided (required) by investing activities of continuing operations (23.7) (54.4)
Cash provided (required) by financing activities of continuing operations:    
Increase (decrease) in short-term debt 379.9 941.4
Issuances of common stock, net 0.0 2.3
Dividends paid [3] (72.5) (72.7)
Repurchases of common stock under publicly announced program 0.0 (25.0)
Other repurchases of common stock (1.7) (5.7)
Cash provided (required) by financing activities of continuing operations 305.7 840.3
Effect of exchange rate changes on cash and cash equivalents (2.2) 0.4
Increase (decrease) in cash and cash equivalents 115.4 (77.6)
Cash and cash equivalents, beginning of period 302.4 572.0
Cash and cash equivalents, end of period $ 417.8 $ 494.4
[1] In addition to cash payments shown in our roll forward of restructuring reserves in Note 8 to our consolidated financial statements included within this Form 10-Q, the restructuring and other spending amount above for the three months ended March 31, 2024 and 2023 includes spending of $0.7 million and $0.5 million, respectively, related to the Furadan® asset retirement obligations. For additional detail on restructuring and other charges activities, see Note 8.
[2] Changes in all periods primarily represent timing of payments associated with all other operating assets and liabilities.
[3] See Note 13 regarding the quarterly cash dividend.