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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net income $ 77.1 $ 78.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 29.6 26.4
Amortization expense 11.4 11.0
Deferred income tax benefit (1.8) (7.4)
Share-based compensation expense 9.4 8.6
Bad debt and returns expense 1.8 3.2
Other, net 0.5 0.5
Changes in operating assets and liabilities:    
Receivables (12.3) 7.9
Inventories (35.7) 3.5
Accounts payable 17.9 (25.1)
Employee compensation and benefits (8.1) 18.3
Other assets and liabilities (37.6) (0.8)
Net cash provided by operating activities 52.2 124.6
INVESTING ACTIVITIES    
Purchases of property, plant and equipment (11.5) (15.3)
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 (0.4) (0.5)
Cash received from leased assets 0.6 0.6
Net cash used in investing activities (69.1) (15.2)
FINANCING ACTIVITIES    
Proceeds from borrowings 40.0 20.0
Repayments of borrowings (32.5) (98.7)
Payment of debt financing costs (2.2) 0.0
Proceeds from exercise of stock options, net of employee tax withholdings obligations 19.6 18.1
Repurchases of common stock (17.1) (11.7)
Dividends paid (15.9) (14.8)
Net cash used in financing activities (8.1) (87.1)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (0.8) (2.7)
Net (decrease) increase in cash, cash equivalents and restricted cash (25.8) 19.6
Cash, cash equivalents and restricted cash at beginning of period 117.1 77.4
Cash, cash equivalents and restricted cash at end of period 91.3 97.0
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for income taxes 27.9 29.1
Cash paid for interest 11.3 14.7
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 15.1 13.9
Financing cash flows from financing leases 0.1 0.0
Lease assets obtained in exchange for new operating lease liabilities 24.0 13.0
Lease assets obtained in exchange for new financing lease liabilities 1.0 0.6
Supplemental non-cash investing and financing activities:    
Capital expenditures in accounts payable $ 1.6 $ 1.9