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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating      
Net income (loss) $ (6.6) $ 88.9 $ 83.8
Non-cash items included in net income (loss):      
Depreciation and amortization 129.2 88.7 70.1
Amortization of deferred issuance costs 6.4 4.0 2.1
Impairments 13.8 1.6 0.0
Deferred income tax (31.7) (27.0) (5.2)
Pension and other postretirement benefits (5.5) 0.7 3.7
Stock-based compensation 20.4 8.5 8.8
Income from equity affiliates (5.2) (6.4) (4.9)
Brazil tax assessment and settlements, net 0.0 (6.1) 0.0
Gain on sale of assets (2.9) (35.3) 0.0
Long-term income tax payable 0.0 0.0 (0.5)
Cash dividends received from equity affiliates 4.1 3.3 2.7
Gain on foreign currency transactions (7.5) (3.5) 7.9
Other non-cash items (0.3) 2.1 (1.2)
Cash received from settlement of interest swap agreements 23.6 0.0 0.0
Changes in operating working capital, net of assets acquired:      
Accounts receivable 157.0 (28.1) (5.3)
Inventories (82.2) (31.4) (3.5)
Prepaid expenses (0.2) 0.7 0.6
Accounts payable and other current liabilities 4.4 3.5 (5.3)
Accrued income taxes (14.6) (6.1) 7.8
Net changes in operating working capital 64.4 (61.4) (5.7)
Net cash provided by operations 202.2 58.1 161.6
Investing      
Capital spending (56.9) (35.9) (30.1)
Capitalized software costs (2.7) (3.0) (3.2)
Acquisitions, net of cash acquired (462.5) (630.6) (169.3)
Proceeds from sale of assets 7.5 35.3 0.5
Cash received from settlement of cross-currency swap contracts 35.8 0.0 0.0
Other investing (2.5) (2.3) (1.0)
Net cash used in investing (481.3) (636.5) (203.1)
Financing      
Cash dividends paid (72.2) (55.3) (55.0)
Proceeds from issuances of long-term debt 775.0 744.5 212.7
Payments on long-term debt (341.8) (55.9) (165.3)
Payments for debt issuance costs (22.1) (14.6) 0.0
Payments on financing lease obligations (0.7) (15.4) 0.0
Purchases of common stock (6.9) (3.4) (1.0)
Other financing 0.3 0.0 0.0
Net cash provided by (used in) financing 331.6 599.9 (8.6)
Effect of exchange rate changes on cash and cash equivalents (2.8) (1.5) 1.8
Increase (decrease) in cash and cash equivalents 49.7 20.0 (48.3)
Cash and cash equivalents at beginning of period 74.7 54.7 103.0
Cash and cash equivalents at end of period 124.4 74.7 54.7
Supplemental Cash Flow Disclosures      
Cash paid for interest, net 84.6 47.4 31.4
Cash paid for taxes, net 26.0 22.4 14.8
Capital spending in accounts payable and accrued liabilities 14.6 6.3 5.2
Merger non-cash consideration $ 537.9 $ 0.0 $ 0.0