XML 18 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating    
Net income $ 13.7 $ 21.1
Less: Income from discontinued operations 0.0 0.0
Income from continuing operations 13.7 21.1
Non-cash items included in net income:    
Depreciation and amortization 16.6 10.8
Restructuring-related impairment 0.0 0.5
Deferred income tax provision 0.0 0.1
Pension and other postretirement benefits 1.0 0.9
Stock-based compensation 1.4 1.4
(Income) loss from equity affiliates (0.1) 0.1
Gain on sale of intangible assets 0.0 (1.8)
Excess tax expense of stock-based awards 0.0 0.2
Other items (0.4) (1.7)
Changes in operating working capital:    
Accounts receivable (8.6) (13.6)
Inventories 2.2 4.9
Prepaid expenses (1.7) (1.4)
Accounts payable (0.9) (4.3)
Accrued expenses (7.3) (6.0)
Accrued income taxes (3.0) 6.5
Net changes in operating working capital (19.3) (13.9)
Net cash provided by (used in) operating activities of:    
- Continuing operations 12.9 17.7
- Discontinued operations 0.1 (0.1)
Net cash provided by operations 13.0 17.6
Investing    
Capital spending (11.1) (4.5)
Capitalized software costs (0.8) (0.2)
Acquisitions, net of cash acquired (293.4) 0.0
Other investing (0.6) (0.8)
Net cash used in investing (305.9) (5.5)
Financing    
Cash dividends paid to SWM stockholders 0.0 (12.2)
Changes in short-term debt 0.0 0.1
Proceeds from issuances of long-term debt 286.5 27.1
Payments on long-term debt (0.7) (19.8)
Purchases of common stock (1.1) (0.6)
Payments for debt issuance costs (0.6) 0.0
Excess tax expense of stock-based awards 0.0 (0.2)
Net cash provided by (used in) financing 284.1 (5.6)
Effect of exchange rate changes on cash and cash equivalents 1.2 7.2
(Decrease) increase in cash and cash equivalents (7.6) 13.7
Cash and cash equivalents at beginning of period 107.4 186.5
Cash and cash equivalents at end of period 99.8 200.2
Supplemental Cash Flow Disclosures    
Cash paid for interest 3.5 3.6
Cash paid for taxes, net 9.8 1.3
Change in capital spending in accounts payable and accrued liabilities 3.4 1.4
Deferred and contingent business acquisition consideration $ 8.6 $ 0.0