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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 22.7 $ 36.7
Payments of contingent consideration 0.0 (9.2)
Loss on disposal of assets 1.2 (0.2)
Change in fair value of contingent consideration 0.0 (6.8)
Depreciation 17.3 19.6
Amortization of debt issuance costs 1.5 1.4
Amortization of intangibles 21.9 21.6
Stock-based compensation 8.9 7.2
Changes in operating assets and liabilities:    
Accounts receivable (33.4) (12.4)
Inventories 10.1 (51.4)
Other assets (9.0) (18.7)
Accounts payable (55.1) (47.2)
Accrued expenses and other liabilities (19.1) (34.8)
Accrued income taxes (6.3) (3.7)
Net cash used by operating activities (39.3) (97.9)
Investing activities    
Additions to property, plant and equipment (6.1) (7.0)
Proceeds from the disposition of assets 0.0 0.2
Net cash used by investing activities (6.1) (6.8)
Financing activities    
Proceeds from long-term borrowings 107.9 218.0
Repayments of long-term debt (28.2) (25.6)
Repayments of notes payable, net (2.4) 11.3
Dividends paid (14.2) (14.4)
Payments of contingent consideration 0.0 (17.8)
Repurchases of common stock 0.0 (19.4)
Payments related to tax withholding for stock-based compensation (1.7) (2.5)
Proceeds from the exercise of stock options 0.0 4.3
Net cash provided by financing activities 61.4 153.9
Effect of foreign exchange rate changes on cash and cash equivalents 4.2 1.3
Net increase in cash and cash equivalents 20.2 50.5
Cash and cash equivalents    
Beginning of the period 62.2 41.2
End of the period 82.4 91.7
Cash paid during the year for:    
Interest 30.3 18.9
Income taxes $ 22.1 $ 17.9