XML 63 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flow (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operations      
Net income $ 76.1 $ 79.8 $ 92.6
Less: (Loss) income from discontinued operations (2.4) (24.3) 0.5
Income from Continuing Operations 78.5 104.1 92.1
Non-cash items included in net income:      
Depreciation and amortization 37.3 38.5 42.1
Impairment 37.2 20.2 6.8
Provision for losses on business tax credits 0 0 15.9
Amortization of deferred revenue 0 0 (6.0)
Deferred income tax provision (benefit) 17.3 13.1 (13.9)
Pension and other postretirement benefits 1.1 1.0 (6.5)
Stock-based compensation 3.2 6.9 3.8
Income from equity affiliates (3.8) (4.0) (4.7)
Excess tax benefits of stock-based awards (0.5) (1.4) (10.0)
Cash dividends received from equity affiliates 3.7 3.0 0
Other items 1.0 (0.1) (3.1)
Changes in operating working capital:      
Accounts receivable 4.4 14.3 (25.8)
Inventories (1.0) (6.1) (5.9)
Prepaid expenses 0.1 (1.0) 0.4
Accounts payable (1.5) (7.0) (3.5)
Accrued expenses 3.4 (8.1) 1.5
Accrued income taxes (4.6) 4.7 8.2
Net changes in operating working capital 0.8 (3.2) (25.1)
Net cash provided (used) by operating activities of:      
- Continuing operations 175.8 178.1 91.4
- Discontinued operations 2.3 (3.5) (9.9)
Cash Provided by Operations 178.1 174.6 81.5
Investing      
Capital spending (29.1) (27.2) (60.9)
Capitalized software costs (0.5) (0.9) (1.3)
Acquisitions, net of cash acquired (229.7) 0 0
Investment in equity affiliates 0 (21.0) (12.2)
Other investing 5.6 (2.6) 2.3
Cash Used for Investing (253.7) (51.7) (72.1)
Financing      
Cash dividends paid to SWM stockholders (39.5) (14.1) (10.1)
Changes in short-term debt 0 (1.9) 2.3
Proceeds from issuances of long-term debt 455.6 43.0 226.7
Payments on long-term debt (228.1) (31.8) (128.5)
Purchases of common stock (1.7) (50.0) (120.9)
Proceeds from exercise of stock options 0.5 2.8 2.2
Excess tax benefits of stock-based awards 0.5 1.4 10.0
Cash Provided by (Used in) Financing 187.3 (50.6) (18.3)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 9.1 2.4 (1.9)
Increase in Cash and Cash Equivalents 120.8 74.7 (10.8)
Cash and Cash Equivalents at beginning of period 151.2 76.5 87.3
Cash and Cash Equivalents at end of period $ 272.0 $ 151.2 $ 76.5