XML 33 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net income $ 112.2 $ 85.0 $ 61.8
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 47.6 49.6 50.4
Loss on disposal of subsidiary (0.0) (0.0) 0.9
Foreign exchange loss on liquidation of subsidiary (0.0) (0.0) 1.8
Deferred tax (benefit)/expense (0.8) 5.5 (6.7)
Cash contributions to defined benefit pension plans (0.4) (1.0) (1.0)
Non-cash income of defined benefit pension plans (6.1) (4.3) (3.6)
Stock option compensation 6.6 4.9 4.1
Changes in assets and liabilities, net of effects of acquired and divested companies:      
Trade and other accounts receivable (18.2) (40.1) (83.2)
Inventories 2.4 (42.2) (30.8)
Prepaid expenses (3.1) 0.5 (6.8)
Accounts payable and accrued liabilities 23.2 38.4 48.6
Accrued income taxes (2.4) (6.1) 47.5
Plant closure provisions 0.0 3.6 3.8
Unrecognized tax benefits 2.5 11.5 (0.5)
Other assets and liabilities (1.9) (0.4) (3.6)
Net cash provided by operating activities 161.6 104.9 82.7
Cash Flows from Investing Activities      
Capital expenditures (29.9) (28.9) (23.3)
Business combinations, net of cash acquired (0.0) (5.4) 2.6
Acquisition of intangible asset (0.0) (0.0) (4.2)
Internally developed software (1.1) (1.2) (4.7)
Net cash used in investing activities (31.0) (35.5) (29.6)
Cash Flows from Financing Activities      
Proceeds from revolving credit facility 105.5 10.0 10.0
Repayments of revolving credit facility (171.5) (5.0) (50.0)
Repayment of term loans (82.5) (16.5) (11.0)
Repayment of finance leases and term loans (1.7) (2.7) (2.5)
Refinancing costs (1.5) (0.0) (0.0)
Dividend paid (25.0) (21.7) (18.6)
Issue of treasury stock 1.2 1.1 6.8
Repurchase of common stock (2.4) (1.4) (1.1)
Net cash used in financing activities (177.9) (36.2) (66.4)
Effect of foreign currency exchange rate changes on cash (0.1) (0.3) 1.6
Net change in cash and cash equivalents (47.4) 32.9 (11.7)
Cash and cash equivalents at beginning of year 123.1 90.2 101.9
Cash and cash equivalents at end of year $ 75.7 $ 123.1 $ 90.2