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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating    
Net income/(loss) $ (9.1) $ 35.6
Non-cash items included in net income:    
Depreciation and amortization 92.3 70.3
Impairments 13.7 0.0
Deferred income tax (8.7) 2.4
Pension and other postretirement benefits (4.7) (0.2)
Stock-based compensation 16.5 6.3
Income from equity affiliates (5.1) (6.1)
Brazil tax assessment and settlements, net 0.0 (6.1)
Gain on sale of assets (2.9) 0.0
Cash dividends received from equity affiliates 1.1 0.8
Gain on foreign currency transactions (19.8) (3.9)
Other items 1.2 (0.5)
Cash received from settlement of interest swap agreements 23.6 0.0
Changes in operating working capital, net of assets acquired:    
Accounts receivable (36.3) (30.4)
Inventories (56.1) (29.6)
Prepaid expenses 1.0 (2.4)
Accounts payable and other current liabilities 27.6 (0.9)
Accrued income taxes (17.1) (7.8)
Net changes in operating working capital (80.9) (71.1)
Net cash provided by operations 17.2 27.5
Investing    
Capital spending (36.5) (23.8)
Capitalized software costs (2.1) (1.9)
Acquisitions, net of cash acquired (462.5) (630.6)
Cash received from settlement of cross-currency swap contracts 35.8 0.0
Other investing 3.7 (2.0)
Net cash used in investing (461.6) (658.3)
Financing    
Cash dividends paid (50.1) (41.5)
Proceeds from issuances of long-term debt 720.4 729.7
Payments on long-term debt (180.6) (19.5)
Payments on financing lease obligations (0.4) 0.0
Purchases of common stock (6.4) (3.1)
Payments for debt issuance costs (22.6) (14.6)
Net cash provided by financing 460.3 651.0
Effect of exchange rate changes on cash and cash equivalents (8.3) (1.3)
Increase in cash and cash equivalents 7.6 18.9
Cash and cash equivalents at beginning of period 74.7 54.7
Cash and cash equivalents at end of period 82.3 73.6
Supplemental Cash Flow Disclosures    
Cash paid for interest, net 48.0 27.5
Cash paid for taxes, net 16.8 17.7
Capital spending in accounts payable and accrued liabilities 8.7 4.7
Merger non-cash consideration $ 537.9 $ 0.0