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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash provided (required) by operating activities of continuing operations:    
Net income (loss) $ 52.2 $ 292.1
Discontinued operations, net of income taxes (16.4) 15.3
Income (loss) from continuing operations 35.8 307.4
Adjustments from income from continuing operations to cash provided (required) by operating activities of continuing operations:    
Depreciation and amortization 87.1 90.0
Restructuring and other charges (income) 54.5 136.0
Deferred income taxes 22.4 (421.6)
Pension and other postretirement benefits 7.3 10.1
Share-based compensation 11.1 12.4
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:    
Trade receivables, net (146.3) (94.8)
Guarantees of vendor financing (24.0) (5.7)
Advance payments from customers (453.8) (481.4)
Accrued customer rebates 304.5 307.3
Inventories (165.5) 244.1
Accounts payable, trade and other 130.5 108.8
Income taxes (122.2) 3.5
Pension and other postretirement benefit contributions (2.0) (1.7)
Environmental spending, continuing, net of recoveries (16.2) (13.6)
Restructuring and other spending [1] (72.9) (68.2)
Change in other operating assets and liabilities, net [2] (129.4) 16.7
Cash provided (required) by operating activities of continuing operations (479.1) 149.3
Cash provided (required) by operating activities of discontinued operations:    
Environmental spending, discontinued, net of recoveries (13.8) (23.1)
Other discontinued spending (3) [3] (15.9) 4.2
Cash provided (required) by operating activities of discontinued operations (29.7) (18.9)
Cash provided (required) by investing activities of continuing operations:    
Capital expenditures (46.6) (30.6)
Acquisitions, including cost and equity method, net (2.1) (1.8)
Proceeds from (disbursements for) the sale of the GSS business (2.1) 0.0
Other investing activities (0.6) (7.2)
Cash provided (required) by investing activities of continuing operations (51.4) (39.6)
Cash provided (required) by financing activities of continuing operations:    
Increase (decrease) in short-term debt 548.7 231.5
Financing fees and premiums [4] (14.6) 0.0
Repayments of long-term debt (500.1) 0.0
Proceeds from borrowing of long-term debt 750.0 0.0
Acquisitions of noncontrolling interests (8.6) 0.0
Issuances of common stock, net 0.2 0.2
Dividends paid [5] (145.5) (145.2)
Other repurchases of common stock (1.4) (1.8)
Cash provided (required) by financing activities of continuing operations 628.7 84.7
Effect of exchange rate changes on cash and cash equivalents 12.4 (6.4)
Increase (decrease) in cash and cash equivalents 80.9 169.1
Cash and cash equivalents, beginning of period 357.3 302.4
Cash and cash equivalents, end of period $ 438.2 $ 471.5
[1] 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] Discontinued operations for the six months ended June 30, 2024 includes cash proceeds, net of fees of $18.0 million received as the result of an insurance settlement for retained legal reserves.
[4] See Note 9 for more information on the make-whole premium paid in connection with the early redemption of certain debt instruments.
[5] See Note 13 regarding the quarterly cash dividend.