v2.3.0.15
Statement of Consolidated Cash Flows (Unaudited) (USD $)
In Millions
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income$ 20.2[1]$ 14.4
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation of property, plant and equipment17.313.8
Amortization of definite-lived intangible assets1.60.1
Amortization of debt discount and debt issuance costs5.63.0
Deferred income taxes10.87.5
Non-cash equity compensation4.04.1
Net non-cash LIFO charges12.86.2
Non-cash unrealized losses on derivative positions19.87.1
Amortization of option premiums (received) paid, net(0.9)1.0
Non-cash impairment charges01.9
Losses on disposition of property, plant and equipment0.10.1
Non-cash changes in net periodic benefit (income) costs relating to the VEBAs1(6.5)1.3[2]
Other non-cash changes in assets and liabilities0.1(0.9)
Changes in operating assets and liabilities, net of effect of acquisition:  
Trade and other receivables(39.2)(8.4)
Receivable from affiliate00.2
Inventories (excluding LIFO charges)(33.3)(31.8)
Prepaid expenses and other current assets(2.0)2.6
Accounts payable12.53.2
Accrued liabilities0.31.5
Payable to affiliate3.311.0
Long-term assets and liabilities, net(5.7)27.4
Net cash provided by operating activities20.865.3
Cash flows from investing activities:  
Capital expenditures(22.9)(34.9)
Purchase of available for sale securities(0.2)(4.4)
Net proceeds from disposal of manufacturing facility and related assets 4.8
Cash payment for acquisition of manufacturing facility and related assets (net of $4.9 of cash received in connection with the acquisition in 2011)(83.2)(9.0)
Change in restricted cash(1.1)1.1
Net cash used in investing activities(107.4)(42.4)
Cash flows from financing activities:  
Proceeds from issuance of cash convertible senior notes0175.0
Cash paid for financing costs in connection with issuance of cash convertible senior notes0(5.9)
Purchase of call option in connection with issuance of cash convertible senior notes0(31.4)
Proceeds from issuance of warrants014.3
Repayment of capital lease(0.1)0
Repayment of promissory notes(8.0)(0.3)
Cash paid for financing costs in connection with the revolving credit facility(2.1)(2.7)
Repurchase of common stock to cover emplyees' tax withholdings upon vesting of non-vested shares(1.1)0
Repurchase of common stock0(44.2)
Cash dividend paid to stockholders(14.1)(14.3)
Net cash (used in) provided by financing activities(25.4)90.5
Net (decrease) increase in cash and cash equivalents during the period(112.0)113.4
Cash and cash equivalents at beginning of period135.630.3
Cash and cash equivalents at end of period$ 23.6$ 143.7
[1]The combined results for the quarter and nine months ended September 30, 2011 are as presented in the Statement of Consolidated Income for such periods, reflecting the January 1, 2011 effective date of the Alexco acquisition (see Note 1).
[2]Prior period amount has been reclassified from Other non-cash changes in assets and liabilities to conform to current period presentation.