XML 24 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES      
Net income $ 109.5 $ 66.3 $ 64.9
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation expense 36.4 32.8 33.1
Amortization expense 14.7 15.9 20.0
Deferred income tax benefit (26.9) (15.6) (15.0)
Share-based compensation expense 11.6 7.8 9.5
Bad debt and returns expense 3.4 2.3 1.5
Gain on sale of assets 0.0 (3.7) (9.8)
Debt extinguishment cost 0.0 0.0 11.3
Other, net 1.3 1.0 2.3
Changes in operating assets and liabilities:      
Receivables 4.1 (46.3) (20.3)
Inventories 14.3 (68.3) (56.0)
Accounts payable (15.3) 7.7 19.1
Employee compensation and benefits 22.3 (14.8) 8.3
Other assets and liabilities 13.0 (10.2) 0.5
Net cash provided by (used in) operating activities 188.4 (25.1) 69.4
INVESTING ACTIVITIES      
Purchases of property, plant and equipment (22.8) (25.0) (19.4)
Investment in leased assets (1.2) (4.3) (3.7)
Cash received from leased assets 0.8 0.6 0.0
Proceeds from sale of assets, net of cash divested 0.0 4.1 24.7
Other, net 0.0 0.1 (0.1)
Net cash (used in) provided by investing activities (23.2) (24.5) 1.7
FINANCING ACTIVITIES      
Proceeds from borrowings 20.0 52.0 315.8
Repayments of borrowings (120.0) (19.1) (362.0)
Debt extinguishment payment 0.0 0.0 (8.4)
Contingent consideration payments 0.0 0.0 (2.5)
Change in finance lease obligations 0.2 0.0 0.1
Proceeds (repurchases) from exercise of stock options, net of employee tax withholdings obligations 19.0 (0.9) 5.0
Dividends paid (20.1) (18.9) (17.5)
Repurchases of common stock (21.7) (5.0) (15.0)
Net cash (used in) provided by financing activities (122.6) 8.1 (84.5)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2.9) (4.7) (4.0)
Net increase (decrease) in cash, cash equivalents and restricted cash 39.7 (46.2) (17.4)
Cash, cash equivalents and restricted cash at beginning of period 77.4 123.6 141.0
Cash, cash equivalents and restricted cash at end of period 117.1 77.4 123.6
SUPPLEMENTAL CASH FLOW INFORMATION      
Cash paid for income taxes 39.5 34.1 19.5
Cash paid for interest 17.1 7.6 11.7
Supplemental non-cash investing and financing activities:      
Capital expenditures in accounts payable $ 3.5 $ 4.1 $ 3.7