XML 52 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash Flows from Operating Activities    
Net income $ 17.9us-gaap_NetIncomeLoss $ 16.9us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8.5us-gaap_DepreciationDepletionAndAmortization [1] 7.4us-gaap_DepreciationDepletionAndAmortization [1]
Adjustment to fair value of contingent consideration 3.5us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 0us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
Deferred taxes 1.1us-gaap_DeferredIncomeTaxesAndTaxCredits 0.4us-gaap_DeferredIncomeTaxesAndTaxCredits
Excess tax benefit from stock-based payment arrangements (0.7)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (0.2)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Cash contributions to defined benefit pension plans (2.7)us-gaap_PensionContributions (2.9)us-gaap_PensionContributions
Non-cash expense of defined benefit pension plans 0.2us-gaap_PensionExpense 1.0us-gaap_PensionExpense
Stock option compensation 0.9us-gaap_ShareBasedCompensation 0.6us-gaap_ShareBasedCompensation
Changes in assets and liabilities, net of effects of acquired and divested companies:    
Trade and other accounts receivable 14.1us-gaap_IncreaseDecreaseInReceivables 14.2us-gaap_IncreaseDecreaseInReceivables
Inventories 6.4us-gaap_IncreaseDecreaseInInventories (1.1)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses 1.5us-gaap_IncreaseDecreaseInPrepaidExpense 1.5us-gaap_IncreaseDecreaseInPrepaidExpense
Accounts payable and accrued liabilities (33.1)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (21.4)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Accrued income taxes 0.2us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 8.0us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Plant closure provisions 0.5us-gaap_IncreaseDecreaseInRestructuringReserve 0.3us-gaap_IncreaseDecreaseInRestructuringReserve
Unrecognized tax benefits 0.1iosp_IncreaseDecreaseInUnrecognizedTaxBenefits (4.0)iosp_IncreaseDecreaseInUnrecognizedTaxBenefits
Other non-current assets and liabilities (0.2)us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet 0.2us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
Net cash provided by operating activities 18.2us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 20.9us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash Flows from Investing Activities    
Capital expenditures (3.4)us-gaap_PaymentsToAcquireProductiveAssets (2.3)us-gaap_PaymentsToAcquireProductiveAssets
Internally developed software (2.7)us-gaap_PaymentsToAcquireIntangibleAssets (1.5)us-gaap_PaymentsToAcquireIntangibleAssets
Purchase of short-term investments (1.8)us-gaap_PaymentsToAcquireShortTermInvestments (1.2)us-gaap_PaymentsToAcquireShortTermInvestments
Sale of short-term investments 1.1us-gaap_ProceedsFromSaleOfShortTermInvestments 2.0us-gaap_ProceedsFromSaleOfShortTermInvestments
Net cash used in investing activities (6.8)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (3.0)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash Flows from Financing Activities    
Repayments of revolving credit facility 0us-gaap_RepaymentsOfLinesOfCredit (8.0)us-gaap_RepaymentsOfLinesOfCredit
Repayments of term loans (0.2)us-gaap_RepaymentsOfSeniorDebt (0.3)us-gaap_RepaymentsOfSeniorDebt
Excess tax benefit from stock-based payment arrangements 0.7us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 0.2us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Issue of treasury stock 0.7us-gaap_ProceedsFromStockOptionsExercised 0.3us-gaap_ProceedsFromStockOptionsExercised
Repurchase of common stock (6.3)us-gaap_PaymentsForRepurchaseOfCommonStock (0.2)us-gaap_PaymentsForRepurchaseOfCommonStock
Net cash used in financing activities (5.1)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (8.0)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of foreign currency exchange rate changes on cash (1.4)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 0us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net change in cash and cash equivalents 4.9us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 9.9us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 41.6us-gaap_CashAndCashEquivalentsAtCarryingValue 80.2us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period $ 46.5us-gaap_CashAndCashEquivalentsAtCarryingValue $ 90.1us-gaap_CashAndCashEquivalentsAtCarryingValue
[1] Amortization of deferred finance costs of $0.2 million (2014 - $0.2 million) are included in depreciation and amortization in the cash flow statement but in interest expense in the income statement.