|
Condensed Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2014
|
Sep. 30, 2013
|
| Operating Activities |
|
|
| Net income |
$ 92.9 |
$ 153.9 |
| Adjustments to reconcile net income to net cash and cash equivalents provided by (used for) operating activities: |
|
|
| Earnings of non-consolidated affiliates |
(1.4) |
(2.4) |
| Gains on disposition of property, plant and equipment |
(0.6) |
(1.1) |
| Stock-based compensation |
3.5 |
6.4 |
| Depreciation and amortization |
104.3 |
101.2 |
| Deferred income taxes |
17.9 |
27.9 |
| Qualified pension plan contributions |
(0.6) |
(0.7) |
| Qualified pension plan income |
(21.4) |
(18.1) |
| Change in: |
|
|
| Receivables |
(46.7) |
(44.8) |
| Income taxes receivable/payable |
(10.2) |
(2.6) |
| Inventories |
(12.3) |
11.6 |
| Other current assets |
0.9 |
2.4 |
| Accounts payable and accrued liabilities |
(12.0) |
16.1 |
| Other assets |
5.1 |
2.5 |
| Other noncurrent liabilities |
(20.0) |
(10.6) |
| Other operating activities |
0.1 |
0 |
| Net operating activities |
99.5 |
241.7 |
| Investing Activities |
|
|
| Capital expenditures |
(49.7) |
(70.4) |
| Proceeds from sale/leaseback of equipment |
0 |
35.8 |
| Proceeds from disposition of property, plant and equipment |
4.0 |
4.3 |
| Distributions from affiliated companies, net |
0 |
0.9 |
| Restricted cash activity |
2.2 |
5.3 |
| Other investing activities |
(0.5) |
(1.8) |
| Net investing activities |
(44.0) |
(25.9) |
| Long-term debt: |
|
|
| Borrowings |
150.0 |
0 |
| Repayments |
(149.2) |
(11.4) |
| Earn out payment - SunBelt |
(14.8) |
(17.1) |
| Common stock repurchased and retired |
(44.7) |
(28.8) |
| Stock options exercised |
6.5 |
6.8 |
| Excess tax benefits from stock-based compensation |
1.1 |
1.4 |
| Dividends paid |
(47.4) |
(48.1) |
| Deferred debt issuance costs |
(1.2) |
0 |
| Net financing activities |
(99.7) |
(97.2) |
| Net (decrease) increase in cash and cash equivalents |
(44.2) |
118.6 |
| Cash and cash equivalents, beginning of period |
307.8 |
165.2 |
| Cash and cash equivalents, end of period |
263.6 |
283.8 |
| Cash paid for interest and income taxes: |
|
|
| Interest |
30.8 |
31.3 |
| Income taxes, net of refunds |
42.7 |
43.1 |
| Non-cash investing activities: |
|
|
| Capital expenditures included in accounts payable and accrued liabilities |
$ 3.6 |
$ 11.1 |