XML 28 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flow - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operations      
Net Income $ 89.7 $ 89.7 $ 76.1
Less: Loss from discontinued operations (0.8) 0.0 (2.4)
Income from continuing operations 90.5 89.7 78.5
Non-cash items included in net income:      
Depreciation and amortization 41.0 45.1 37.3
Impairment 6.7 0.0 37.2
Deferred income tax (benefit) provision (6.7) 3.3 17.3
Pension and other postretirement benefits 4.2 1.2 1.1
Stock-based compensation 3.5 5.9 3.2
Income from equity affiliates (6.6) (2.0) (3.8)
Gain on sale of intangible assets (4.3) 0.0 0.0
Excess tax benefits of stock-based awards (0.5) (0.6) (0.5)
Cash dividends received from equity affiliates 3.9 4.4 3.7
Other items 0.1 0.8 1.0
Changes in operating working capital:      
Accounts receivable (18.0) 13.3 4.4
Inventories 1.3 14.9 (1.0)
Prepaid expenses 1.1 (0.6) 0.1
Accounts payable 6.5 3.1 (1.5)
Accrued expenses 3.7 (8.0) 3.4
Accrued income taxes 18.2 (4.1) (4.6)
Net changes in operating working capital 12.8 18.6 0.8
Net cash provided (used) by operating activities of:      
Continuing operations 144.6 166.4 175.8
Discontinued operations 0.1 (0.5) 2.3
Cash Provided by Operations 144.7 165.9 178.1
Investing      
Capital spending (24.2) (35.1) (29.1)
Capitalized software costs (0.9) (1.0) (0.5)
Acquisitions, net of cash acquired (280.6) (32.6) (229.7)
Investment in equity affiliates 0.0 (8.8) 0.0
Other investing (8.0) 3.0 5.6
Cash Used for Investing (313.7) (74.5) (253.7)
Financing      
Cash dividends paid to SWM stockholders (46.9) (44.5) (39.5)
Changes in short-term debt (0.4) (0.4) 0.0
Proceeds from issuances of long-term debt 488.2 228.3 455.6
Payments on long-term debt (338.7) (170.6) (228.1)
Payments for debt issuance costs (7.4) 0.0 0.0
Purchases of common stock (2.9) (52.5) (1.7)
Excess tax benefits of stock-based awards 0.5 0.6 0.5
Proceeds from exercise of stock options 0.0 0.0 0.5
Cash Provided by (Used in) Financing 92.4 (39.1) 187.3
Effect of Exchange Rate Changes on Cash and Cash Equivalents (27.2) (34.0) 9.1
(Decrease) Increase in Cash and Cash Equivalents (103.8) 18.3 120.8
Cash and Cash Equivalents at beginning of period 290.3 272.0 151.2
Cash and Cash Equivalents at end of period $ 186.5 $ 290.3 $ 272.0