Condensed Statements of Cash Flows - USD ($)
$ in Millions |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Operating Activities |
|
|
| Net income (loss) |
$ (21.4)
|
$ 61.3
|
| Adjustments to reconcile net (loss) income to net cash and cash equivalents provided by (used for) operating activities: |
|
|
| Earnings of non-consolidated affiliates |
(1.1)
|
(1.3)
|
| Losses (gains) on disposition of property, plant and equipment |
0.6
|
(23.6)
|
| Stock-based compensation |
6.1
|
5.5
|
| Depreciation and amortization |
397.4
|
104.9
|
| Deferred income taxes |
(34.8)
|
(11.5)
|
| Write-off of equipment and facility included in restructuring charges |
76.6
|
0.0
|
| Qualified pension plan contributions |
(7.1)
|
(0.5)
|
| Qualified pension plan income |
(27.8)
|
(21.0)
|
| Change in: |
|
|
| Receivables |
18.2
|
(37.3)
|
| Income taxes receivable/payable |
(7.8)
|
31.8
|
| Inventories |
46.1
|
(22.4)
|
| Other current assets |
22.7
|
(2.7)
|
| Accounts payable and accrued liabilities |
(54.1)
|
11.1
|
| Other assets |
0.5
|
25.7
|
| Other noncurrent liabilities |
(7.5)
|
(5.4)
|
| Other operating activities |
0.5
|
0.5
|
| Net operating activities |
407.1
|
115.1
|
| Investing Activities |
|
|
| Capital expenditures |
(199.4)
|
(79.7)
|
| Business acquired in purchase transaction, net of cash acquired |
(69.5)
|
0.0
|
| Payments under long-term supply contract |
(175.7)
|
0.0
|
| Proceeds from sale/leaseback of equipment |
40.4
|
0.0
|
| Proceeds from disposition of property, plant and equipment |
0.4
|
24.8
|
| Proceeds from disposition of affiliated companies |
6.6
|
6.6
|
| Other investing activities |
0.0
|
(2.8)
|
| Net investing activities |
(397.2)
|
(51.1)
|
| Financing Activities |
|
|
| Long-term debt repayments |
(176.1)
|
(3.2)
|
| Stock options exercised |
0.4
|
2.2
|
| Excess tax benefits from stock-based compensation |
0.0
|
0.4
|
| Dividends paid |
(99.1)
|
(46.5)
|
| Debt and equity issuance costs |
0.8
|
19.7
|
| Net financing activities |
(275.6)
|
(66.8)
|
| Effect of exchange rate changes on cash and cash equivalents |
0.7
|
0.0
|
| Net decrease in cash and cash equivalents |
(265.0)
|
(2.8)
|
| Cash and cash equivalents, beginning of period |
392.0
|
256.8
|
| Cash and cash equivalents, end of period |
127.0
|
254.0
|
| Cash paid for interest and income taxes: |
|
|
| Interest |
126.9
|
18.8
|
| Income taxes, net of refunds |
16.3
|
5.4
|
| Non-cash investing activities: |
|
|
| Capital expenditures included in accounts payable and accrued liabilities |
$ (3.2)
|
$ 1.7
|