CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions |
3 Months Ended |
Mar. 31, 2016 |
Mar. 31, 2015 |
| Cash flows from operating activities: |
|
|
| Net earnings |
$ 49.7
|
$ 60.6
|
| Adjustments to reconcile net earnings to net cash flows provided by operating activities: |
|
|
| Depreciation, depletion and amortization |
19.9
|
19.1
|
| Finance fee amortization |
0.3
|
0.3
|
| Stock-based compensation |
1.1
|
1.6
|
| Deferred income taxes |
(1.1)
|
4.5
|
| Earnings in equity investee |
(0.4)
|
0.0
|
| Other, net |
(2.2)
|
1.1
|
| Changes in operating assets and liabilities, net of acquisition: |
|
|
| Receivables |
15.0
|
65.0
|
| Inventories |
66.7
|
42.4
|
| Other assets |
1.9
|
(3.1)
|
| Accounts payable and accrued expenses |
(59.0)
|
(70.0)
|
| Other liabilities |
0.7
|
0.9
|
| Net cash provided by operating activities |
92.6
|
122.4
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(43.8)
|
(41.7)
|
| Other, net |
(0.7)
|
0.0
|
| Net cash used in investing activities |
(44.5)
|
(41.7)
|
| Cash flows from financing activities: |
|
|
| Proceeds from revolving credit facility borrowings |
31.0
|
0.0
|
| Principal payments on revolving credit facility borrowings |
(35.5)
|
0.0
|
| Principal payments on long-term debt |
(1.2)
|
(0.9)
|
| Dividends paid |
(23.5)
|
(22.4)
|
| Proceeds received from stock option exercises |
0.6
|
2.1
|
| Excess tax benefit (deficiency) from equity compensation awards |
(0.1)
|
0.1
|
| Net cash used in financing activities |
(28.7)
|
(21.1)
|
| Effect of exchange rate changes on cash and cash equivalents |
7.4
|
(12.6)
|
| Net change in cash and cash equivalents |
26.8
|
47.0
|
| Cash and cash equivalents, beginning of the year |
58.4
|
266.8
|
| Cash and cash equivalents, end of period |
85.2
|
313.8
|
| Supplemental cash flow information: |
|
|
| Interest paid, net of amounts capitalized |
8.6
|
8.9
|
| Income taxes paid, net of refunds |
$ 26.0
|
$ 48.9
|