|
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Millions, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Cash flows from operating activities: |
|
|
| Net earnings |
$ 60.6 |
$ 50.2 |
| Adjustments to reconcile net earnings to net cash flows provided by operating activities: |
|
|
| Depreciation, depletion and amortization |
19.1 |
18.4 |
| Finance fee amortization |
0.3 |
0.3 |
| Stock-based compensation |
1.6 |
1.2 |
| Deferred income taxes |
4.5 |
3.0 |
| Other, net |
1.1 |
(1.6) |
| Insurance advances for operating purposes, Goderich tornado |
0 |
5.0 |
| Changes in operating assets and liabilities: |
|
|
| Receivables |
65.0 |
47.2 |
| Inventories |
42.4 |
85.0 |
| Other assets |
(3.1) |
3.3 |
| Accounts payable and accrued expenses |
(70.0) |
(51.0) |
| Other liabilities |
0.9 |
(0.3) |
| Net cash provided by operating activities |
122.4 |
160.7 |
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(41.7) |
(25.0) |
| Insurance advances for investment purposes, Goderich tornado |
0 |
8.7 |
| Other, net |
0 |
2.9 |
| Net cash used in investing activities |
(41.7) |
(13.4) |
| Cash flows from financing activities: |
|
|
| Principal payments on long-term debt |
(0.9) |
(0.9) |
| Dividends paid |
(22.4) |
(20.2) |
| Proceeds received from stock option exercises |
2.1 |
2.1 |
| Excess tax benefit (deficiency) from equity compensation awards |
0.1 |
(0.2) |
| Net cash used in financing activities |
(21.1) |
(19.2) |
| Effect of exchange rate changes on cash and cash equivalents |
(12.6) |
(4.3) |
| Net change in cash and cash equivalents |
47.0 |
123.8 |
| Cash and cash equivalents, beginning of the year |
266.8 |
159.6 |
| Cash and cash equivalents, end of period |
313.8 |
283.4 |
| Supplemental cash flow information: |
|
|
| Interest paid, net of amounts capitalized |
8.9 |
2.0 |
| Income taxes paid, net of refunds |
$ 48.9 |
$ 12.5 |