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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 76.2 $ 703.4 $ 230.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of business, net of tax expense 0.0 (550.1) 0.0
Depreciation and amortization 186.9 157.6 144.2
Accelerated depreciation 1.9 5.5 1.7
Amortization of inventory step-up 0.0 34.4 1.5
Deferred income tax (benefit) expense (61.3) 0.5 (27.3)
Share-based compensation expense 13.2 13.2 11.2
Changes in assets and liabilities, net of the effect of acquisitions:      
Decrease (increase) in accounts receivable 38.6 32.6 (143.1)
Decrease (increase) in inventories 24.3 14.0 (141.0)
(Decrease) increase in accounts payable (22.2) 10.7 95.3
(Decrease) increase in pension and other post-retirement benefits (15.1) 7.1 (10.9)
Taxes paid on gain on sale of business (104.1) (2.8) 0.0
Accrued expenses and other assets and liabilities, net 63.2 (27.7) 71.6
Net cash provided by operating activities 201.6 398.4 233.8
Investing activities      
Capital expenditures (119.4) (105.5) (100.6)
Business acquisitions, net of cash acquired 0.0 (1,426.1) (47.6)
Settlement of foreign exchange derivatives 0.0 93.3 0.0
Net proceeds from divestiture 7.3 928.2 0.0
Proceeds from plant closures 7.6 6.1 0.0
Other investing activities 10.3 0.0 (2.0)
Net cash used by investing activities (94.2) (504.0) (150.2)
Financing activities      
Debt offering proceeds 0.0 1,300.0 0.0
Purchase of common shares for treasury 0.0 (36.4) (4.2)
Cash dividends paid (90.2) (86.8) (77.7)
Repayment of long-term debt (105.8) (956.8) (18.5)
Payments on withholding tax on share awards (3.4) (4.3) (10.7)
Debt financing costs (2.3) (49.3) 0.0
Other financing activities 0.0 0.0 (3.5)
Net cash (used) provided by financing activities (201.7) 166.4 (114.6)
Effect of exchange rate changes on cash (1.0) (20.9) (17.3)
(Decrease) increase in cash and cash equivalents (95.3) 39.9 (48.3)
Cash and cash equivalents at beginning of year 641.1 601.2 649.5
Cash and cash equivalents at end of year $ 545.8 $ 641.1 $ 601.2