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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income $ (25.8) $ 29.7 $ (8.6) $ 53.5
Depreciation and amortization 30.9 24.6 54.1 49.4
Equity-based compensation expense 4.7 1.5 8.1 3.4
Deferred taxes (3.5) (1.6) (5.1) (2.9)
Defined benefit pension and other postretirement employee benefits (0.8) (0.6) (1.7) (1.1)
Amortization of Debt Issuance Costs 0.7 0.3 1.1 0.6
Loss on sale or impairment associated with assets 0.7 0.0 0.8 1.1
Increase in accounts receivable (65.6) (7.7) (57.8) (14.1)
(Increase) decrease in inventories 9.2 5.3 1.0 (17.0)
(Increase) decrease in other current assets 2.3 5.4 0.0 5.8
Increase (decrease) in accounts payable and accrued liabilities 69.4 (10.7) 89.9 (42.5)
Other Operating Activities, Cash Flow Statement (1.2) (0.1) (1.5) 0.6
Net cash flows provided by operating activities 21.1 46.0 80.3 36.9
CASH FLOWS FROM INVESTING ACTIVITIES        
Additions to property, plant and equipment, net 1 (18.1) (12.8) (36.6) [1] (34.3) [1]
Payments to Acquire Businesses, Net of Cash Acquired (708.2) 0.0 (708.2) 0.0
Net cash flows used in investing activities (726.3) (12.8) (744.8) (34.3)
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from (Repayments of) Other Long-Term Debt 726.7 0.0 723.5 12.0
Repayments of long-term debt (30.3) (0.2) (50.5) (12.5)
Payments for Repurchase of Common Stock (3.0) (8.4) (3.5) (10.1)
Payments of Debt Issuance Costs (4.1) 0.0 (4.5) (0.1)
Proceeds from (Payments for) Other Financing Activities 0.2 (0.4) (2.9) (4.6)
Net cash flows provided by (used in) financing activities 689.6 (8.9) 662.1 (15.3)
Increase (decrease) in cash, cash equivalents (15.6) 24.3 (2.4) (12.7)
Cash and cash equivalents at beginning of period 55.2 17.4 42.0 54.4
Cash and cash equivalents at end of period 39.6 41.7 39.6 41.7
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:        
Cash paid for interest, net of amounts capitalized 8.0 0.8 17.8 15.4
Income Taxes Paid, Net $ 15.2 $ 15.1 $ 15.4 $ 15.1
[1] Capital expenditures of $35.1 million and $14.0 million that have not been paid as of June 30, 2024 and 2023 were excluded from the Statements of Cash Flows.