|
Condensed Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| Operating Activities |
|
|
| Net income |
$ 115.0 |
$ 223.0 |
| Adjustments to reconcile net income to net cash and cash equivalents provided by (used for) operating activities: |
|
|
| Gain on remeasurement of investment in SunBelt |
0 |
(181.4) |
| Earnings of non-consolidated affiliates |
(2.0) |
(8.5) |
| Gains on disposition of property, plant and equipment |
(0.9) |
(4.8) |
| Stock-based compensation |
4.2 |
4.3 |
| Depreciation and amortization |
78.7 |
74.1 |
| Deferred income taxes |
34.5 |
93.1 |
| Qualified pension plan contributions |
(0.6) |
(0.7) |
| Qualified pension plan income |
(18.6) |
(19.5) |
| Change in: |
|
|
| Receivables |
(48.6) |
(79.6) |
| Income taxes receivable |
(11.7) |
3.5 |
| Inventories |
(1.3) |
(6.7) |
| Other current assets |
0.7 |
0.3 |
| Accounts payable and accrued liabilities |
15.0 |
11.6 |
| Other assets |
4.7 |
(0.2) |
| Other noncurrent liabilities |
(10.0) |
6.1 |
| Other operating activities |
(0.5) |
(2.2) |
| Net operating activities |
158.6 |
112.4 |
| Investing Activities |
|
|
| Capital expenditures |
(210.8) |
(128.4) |
| Business acquired in purchase transaction, net of cash acquired |
(312.3) |
(123.4) |
| Proceeds from sale/leaseback of equipment |
3.5 |
0 |
| Proceeds from disposition of property, plant and equipment |
3.7 |
6.2 |
| Distributions from affiliated companies, net |
0.5 |
1.1 |
| Restricted cash activity |
33.2 |
30.4 |
| Other investing activities |
(0.4) |
2.3 |
| Net investing activities |
(482.6) |
(211.8) |
| Financing Activities |
|
|
| Long-term debt borrowings |
200.0 |
0 |
| Long-term debt repayments |
(7.7) |
0 |
| Earn out payment - SunBelt |
(15.3) |
0 |
| Common stock repurchased and retired |
(3.1) |
(2.2) |
| Stock options exercised |
1.3 |
7.3 |
| Excess tax benefits from stock-based compensation |
0.7 |
2.0 |
| Dividends paid |
(48.0) |
(48.0) |
| Deferred debt issuance costs |
(5.6) |
0 |
| Net financing activities |
122.3 |
(40.9) |
| Net decrease in cash and cash equivalents |
(201.7) |
(140.3) |
| Cash and cash equivalents, beginning of period |
304.8 |
458.6 |
| Cash and cash equivalents, end of period |
103.1 |
318.3 |
| Cash paid for interest and income taxes: |
|
|
| Interest |
18.4 |
19.6 |
| Income taxes, net of refunds |
28.5 |
34.4 |
| Non-cash investing activities: |
|
|
| Capital expenditures included in accounts payable and accrued liabilities |
$ 20.2 |
$ (4.2) |