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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating    
Net income $ 13.4 $ 23.4
Non-cash items included in net income:    
Depreciation and amortization 50.9 44.9
Impairments 12.9 0.0
Deferred income tax (5.1) 6.8
Pension and other postretirement benefits (0.4) 1.9
Stock-based compensation 7.0 4.6
Income from equity affiliates (3.8) (3.8)
Brazil tax assessment and settlements, net (2.2) (6.1)
Gain on sale of assets (2.9) 0.0
Cash dividends received from equity affiliates 1.1 0.0
Other items (13.5) (0.9)
Cash received from settlement of interest swap agreements 23.6 0.0
Changes in operating working capital, net of assets acquired:    
Accounts receivable (48.0) (14.2)
Inventories (30.3) (11.1)
Prepaid expenses (5.1) (4.3)
Accounts payable and other current liabilities 25.8 (11.2)
Accrued income taxes (5.4) (10.2)
Net changes in operating working capital (63.0) (51.0)
Net cash provided by operations 18.0 19.8
Investing    
Capital spending (17.8) (16.3)
Capitalized software costs (1.6) (1.3)
Acquisitions, net of cash acquired 0.0 (630.5)
Cash received from settlement of cross-currency swap contracts 35.8 0.0
Other investing 1.6 (0.9)
Net cash provided by (used in) investing 18.0 (649.0)
Financing    
Cash dividends paid (28.1) (27.6)
Proceeds from issuances of long-term debt 40.0 703.7
Payments on long-term debt (47.6) (17.8)
Payments on financing lease obligations (0.3) 0.0
Purchases of common stock (3.0) (3.1)
Payments for debt issuance costs (12.5) (14.5)
Net cash provided by (used in) financing (51.5) 640.7
Effect of exchange rate changes on cash and cash equivalents (2.9) (0.3)
Increase (decrease) in cash and cash equivalents (18.4) 11.2
Cash and cash equivalents at beginning of period 74.7 54.7
Cash and cash equivalents at end of period 56.3 65.9
Supplemental Cash Flow Disclosures    
Cash paid for interest, net 28.8 19.7
Cash paid for taxes, net 16.9 14.2
Capital spending in accounts payable and accrued liabilities $ 3.3 $ 5.1