|
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Millions, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2014
|
Sep. 30, 2013
|
| Cash flows from operating activities: |
|
|
| Net earnings |
$ 137.4 |
$ 72.4 |
| Adjustments to reconcile net earnings to net cash flows provided by operating activities: |
|
|
| Depreciation, depletion and amortization |
57.2 |
53.4 |
| Finance fee amortization |
0.9 |
0.9 |
| Early extinguishment of debt |
6.9 |
0 |
| Stock-based compensation |
3.7 |
4.1 |
| Deferred income taxes |
13.0 |
3.2 |
| Gain from insurance settlement |
(83.3) |
0 |
| Other, net |
(0.3) |
1.0 |
| Insurance receipts for operating purposes, Goderich tornado |
11.9 |
4.2 |
| Changes in operating assets and liabilities, net of acquisition: |
|
|
| Receivables |
64.0 |
45.2 |
| Inventories |
(38.1) |
(8.0) |
| Other assets |
(11.3) |
(6.3) |
| Accounts payable and accrued expenses |
(32.1) |
(26.9) |
| Other liabilities |
(0.2) |
(1.1) |
| Net cash provided by operating activities |
129.7 |
142.1 |
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(83.5) |
(83.1) |
| Acquisition of a business |
(86.5) |
0 |
| Insurance receipts for investment purposes, Goderich tornado |
19.4 |
11.9 |
| Other, net |
3.1 |
2.5 |
| Net cash used in investing activities |
(147.5) |
(68.7) |
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of long-term debt |
250.0 |
0 |
| Principal payments on long-term debt |
(101.4) |
(2.9) |
| Premium and other payments to refinance debt |
(5.5) |
0 |
| Deferred financing costs |
(4.1) |
0 |
| Dividends paid |
(60.6) |
(54.9) |
| Proceeds received from stock option exercises |
6.1 |
10.6 |
| Excess tax benefit (deficiency) from equity compensation awards |
(0.2) |
0.7 |
| Net cash provided by (used in) financing activities |
84.3 |
(46.5) |
| Effect of exchange rate changes on cash and cash equivalents |
(6.1) |
(3.1) |
| Net change in cash and cash equivalents |
60.4 |
23.8 |
| Cash and cash equivalents, beginning of the year |
159.6 |
100.1 |
| Cash and cash equivalents, end of period |
220.0 |
123.9 |
| Supplemental cash flow information: |
|
|
| Interest paid, net of amounts capitalized |
10.8 |
10.7 |
| Income taxes paid, net of refunds |
33.2 |
20.0 |
| Fair value of assets acquired |
99.2 |
|
| Cash paid during the nine months ended September 30, 2014 |
(86.5) |
|
| Liabilities assumed |
$ 12.7 |
|