XML 23 R8.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating    
Net income (loss) $ (7.7) $ 1.6
Non-cash items included in net income (loss):    
Depreciation and amortization 42.0 23.9
Amortization of deferred issuance costs 1.8 1.2
Impairments 0.0 12.9
Deferred income tax (7.1) (6.4)
Pension and other postretirement benefits (3.7) (1.9)
Stock-based compensation 3.7 3.4
Income from equity affiliates (0.1) (2.1)
Loss (gain) on foreign currency transactions 2.4 (3.6)
Other non-cash items 0.0 (2.2)
Cash received from settlement of interest swap agreements 0.0 23.6
Changes in operating working capital, net of assets acquired:    
Accounts receivable (37.7) (42.8)
Inventories (8.1) (16.8)
Prepaid expenses (10.0) (6.8)
Accounts payable and other current liabilities 3.3 16.1
Accrued income taxes 0.5 4.9
Net changes in operating working capital (52.0) (45.4)
Net cash provided by (used in) operations (20.7) 5.0
Investing    
Capital spending (19.1) (8.7)
Capitalized software costs (0.1) (0.9)
Other investing (0.2) 0.0
Net cash used in investing (19.4) (9.6)
Financing    
Cash dividends paid (22.0) (13.9)
Proceeds from long-term debt 55.0 20.0
Payments on long-term debt (19.5) (14.4)
Payments for debt issuance costs 0.0 (2.2)
Payments on financing lease obligations (0.2) (0.2)
Purchases of common stock (1.3) (2.9)
Other financing (0.3) 0.0
Net cash provided by (used in) financing 11.7 (13.6)
Effect of exchange rate changes on cash and cash equivalents 1.0 (0.4)
Decrease in cash and cash equivalents (27.4) (18.6)
Cash and cash equivalents at beginning of period 124.4 74.7
Cash and cash equivalents at end of period 97.0 56.1
Supplemental Cash Flow Disclosures    
Cash paid for interest, net 25.6 7.6
Cash paid for taxes, net 2.3 3.4
Capital spending in accounts payable and accrued liabilities $ 7.6 $ 5.3