XML 45 R5.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Condensed Statements of Cash Flow - USD ($)
$ in Millions
 3 Months Ended
Mar. 28, 2020
Mar. 30, 2019
Document Period End Date Mar. 28, 2020  
OPERATING ACTIVITIES    
Net earnings $ 12.8 $ 40.6
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 7.8 7.2
Deferred income taxes (12.6) (0.4)
Stock-based compensation expense 2.7 6.6
Pension and SERP expense 2.1 1.4
Environmental and other related costs, net of cash payments and recoveries received 49.6 (1.0)
Other 5.8 (6.0)
Changes in operating assets and liabilities:    
Accounts receivable 4.1 (13.6)
Inventories (61.0) (56.3)
Other operating assets 1.4 0.5
Accounts payable (64.0) (89.6)
Income taxes payable 2.7 (0.5)
Other operating liabilities (28.0) (21.3)
Net cash used in operating activities (76.6) (132.4)
INVESTING ACTIVITIES    
Business acquisition, net of cash acquired (5.5) 0.0
Additions to property, plant and equipment (3.6) (7.8)
Other (0.2) (0.1)
Net cash used in investing activities (9.3) (7.9)
FINANCING ACTIVITIES    
Net borrowings under revolving credit agreements 430.0 201.0
Payments on long-term debt (2.5) 0.0
Payments of debt issuance costs 0.0 (0.3)
Cash dividends paid (9.0) (7.9)
Purchases of common stock for treasury (21.0) (103.1)
Employee taxes paid under stock-based compensation plans (19.7) (16.3)
Proceeds from the exercise of stock options 1.5 4.1
Net cash provided by financing activities 379.3 77.5
Effect of foreign exchange rate changes (1.4) 0.3
Increase (decrease) in cash and cash equivalents 292.0 (62.5)
Cash and cash equivalents at beginning of the year 180.6 143.1
Cash and cash equivalents at end of the quarter $ 472.6 $ 80.6