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Consolidated Statements of Cash Flow - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operations      
Net income $ 88.9 $ 83.8 $ 85.8
Non-cash items included in net income:      
Depreciation and amortization 92.7 72.2 57.7
Impairments 1.6 0.0 1.1
Deferred income tax benefit (27.0) (5.2) (3.4)
Pension and other postretirement benefits 0.7 3.7 2.6
Stock-based compensation 8.5 8.8 7.7
Income from equity affiliates (6.4) (4.9) (4.1)
Brazil tax assessment accruals, net (6.1) 0.0 10.9
Gain on sale of assets (35.3) 0.0 (0.3)
Long-term income tax payable 0.0 (0.5) (0.6)
Cash dividends received from equity affiliates 3.3 2.7 2.6
Other items (1.4) 6.7 2.1
Changes in operating working capital:      
Accounts receivable (28.1) (5.3) 10.8
Inventories (31.4) (3.5) (11.2)
Prepaid expenses 0.7 0.6 (0.2)
Accounts payable and other current liabilities 3.5 (5.3) 1.8
Accrued income taxes (6.1) 7.8 (3.0)
Net changes in operating working capital (61.4) (5.7) (1.8)
Net cash provided by operating activities of:      
Cash provided by operations 58.1 161.6 160.3
Investing      
Capital spending (35.9) (30.1) (28.6)
Capitalized software costs (3.0) (3.2) (5.5)
Acquisitions, net of cash acquired (630.6) (169.3) 0.0
Proceeds from sale of assets 35.3 0.5 14.7
Other investing (2.3) (1.0) 4.6
Cash used for investing (636.5) (203.1) (14.8)
Financing      
Cash dividends paid to SWM stockholders (55.3) (55.0) (54.4)
Changes in short-term debt, net 0.0 0.0 (0.1)
Proceeds from issuances of long-term debt 744.5 212.7 19.1
Payments on long-term debt (55.9) (165.3) (99.5)
Payments for debt issuance costs (14.6) 0.0 0.0
Payments on financing lease obligations (15.4) 0.0 0.0
Purchases of common stock (3.4) (1.0) (0.9)
Cash provided by (used in) financing 599.9 (8.6) (135.8)
Effect of exchange rate changes on cash and cash equivalents (1.5) 1.8 (0.5)
Increase (decrease) in cash and cash equivalents 20.0 (48.3) 9.2
Cash and cash equivalents at beginning of period 54.7 103.0 93.8
Cash and cash equivalents at end of period $ 74.7 $ 54.7 $ 103.0