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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES    
Net income $ 56.3 $ 55.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 19.5 17.2
Amortization expense 7.8 7.5
Deferred income tax benefit (1.2) (5.6)
Share-based compensation expense 5.3 3.9
Bad debt and returns expense 0.6 1.7
Other, net 0.3 0.4
Changes in operating assets and liabilities:    
Receivables (22.8) (10.9)
Inventories (22.9) (1.3)
Accounts payable 20.8 (10.5)
Employee compensation and benefits (14.9) 7.0
Other assets and liabilities (27.3) 5.2
Net cash provided by operating activities 21.5 70.2
INVESTING ACTIVITIES    
Purchases of property, plant and equipment (7.2) (11.8)
Purchase of investment (32.1) 0.0
Payments made in connection with business acquisition, net of cash acquired (25.7) 0.0
Investment in leased assets (0.3) (0.5)
Cash received from leased assets 0.4 0.3
Net cash used in investing activities (64.9) (12.0)
FINANCING ACTIVITIES    
Proceeds from borrowings 40.0 20.0
Repayments of borrowings (27.5) (42.5)
Proceeds from exercise of stock options, net of employee tax withholdings obligations 19.6 4.2
Repurchases of common stock (9.1) (10.0)
Dividends paid (10.6) (9.8)
Net cash provided by (used) in financing activities 12.4 (38.1)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1.5) (1.7)
Net (decrease) increase in cash, cash equivalents and restricted cash (32.5) 18.4
Cash, cash equivalents and restricted cash at beginning of period 117.1 77.4
Cash, cash equivalents and restricted cash at end of period 84.6 95.8
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for income taxes 18.6 12.3
Cash paid for interest 7.7 10.4
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 9.7 9.2
Lease assets obtained in exchange for new operating lease liabilities 12.8 7.4
Supplemental non-cash investing and financing activities:    
Capital expenditures in accounts payable $ 1.2 $ 0.7