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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income $ 20.4 $ 84.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 48.7 35.7
Accelerated depreciation 1.8 2.1
Share-based compensation expense 3.2 3.2
Changes in assets and liabilities, net of the effect of acquisitions:    
Increase in accounts receivable (40.2) (118.8)
Decrease (increase) in inventories 3.8 (15.1)
(Decrease) increase in accounts payable (9.9) 90.5
Accrued expenses and other assets and liabilities, net (50.0) (63.2)
Net cash (used) provided by operating activities (22.2) 18.9
Investing activities    
Capital expenditures (20.3) (13.3)
Net proceeds from divestiture 7.3 0.0
Net cash used by investing activities (13.0) (13.3)
Financing activities    
Purchase of common shares for treasury 0.0 (15.8)
Cash dividends paid (22.5) (21.7)
Repayment of long-term debt (0.8) (2.4)
Other financing (2.3) (3.9)
Net cash used by financing activities (25.6) (43.8)
Effect of exchange rate changes on cash 2.4 (0.4)
Decrease in cash and cash equivalents (58.4) (38.6)
Cash and cash equivalents at beginning of year 641.1 601.2
Cash and cash equivalents at end of period $ 582.7 $ 562.6