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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities      
Net income $ 133.0 $ 93.1 $ 28.7
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 40.1 42.7 46.0
Impairment of intangible assets 0.0 0.0 19.8
Impairment of tangible assets 0.0 0.0 2.0
Deferred taxes (5.5) 6.4 (2.5)
Profit on disposal 0.0 (1.8) 0.0
Non-cash income of defined benefit pension plans (2.5) (3.5) (4.0)
Stock option compensation 6.7 4.4 5.8
Changes in assets and liabilities, net of effects of acquired and divested companies:      
Trade and other accounts receivable (55.5) (70.3) 74.4
Inventories (98.5) (62.0) 25.5
Prepaid expenses 4.6 (3.5) (1.0)
Accounts payable and accrued liabilities 54.2 90.2 (45.9)
Plant closure provisions 1.1 (1.4) 8.5
Accrued income taxes 9.4 (3.2) (10.3)
Unrecognized tax benefits (2.9) 0.3 (0.4)
Other assets and liabilities (2.5) 1.8 (0.7)
Net cash provided by operating activities 81.7 93.2 145.9
Cash Flows from Investing Activities      
Capital expenditures (39.6) (39.1) (29.7)
Proceeds on disposal of property, plant and equipment 0.2 2.9 0.0
Internally developed software (2.7) 0.0 0.0
Net cash used in investing activities (42.1) (36.2) (29.7)
Cash Flows from Financing Activities      
Non-controlling interest 1.8 0.1 0.1
Proceeds from revolving credit facility 0.0 0.0 15.0
Repayments of revolving credit facility 0.0 0.0 (75.0)
Repayment of finance leases (0.1) (0.6) (1.1)
Refinancing costs 0.0 0.0 (0.3)
Dividend paid (31.7) (28.8) (25.6)
Issue of treasury stock 2.2 10.1 2.2
Repurchase of common stock (5.9) (0.8) (2.1)
Net cash used in financing activities (33.7) (20.0) (86.8)
Effect of foreign currency exchange rate changes on cash (0.6) (0.5) 0.2
Net change in cash and cash equivalents 5.3 36.5 29.6
Cash and cash equivalents at beginning of year 141.8 105.3 75.7
Cash and cash equivalents at end of year $ 147.1 $ 141.8 $ 105.3