Consolidated Statements of Cash Flows - USD ($)
$ in Millions |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 338.9
|
$ 332.6
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, depletion, and amortization of intangibles |
264.3
|
267.9
|
| Amortization of deferred financing costs |
5.8
|
5.8
|
| Share-based compensation expense |
15.0
|
13.7
|
| Deferred income tax provision |
6.5
|
1.2
|
| Pension and postretirement benefits expense, net of contributions |
(33.5)
|
24.0
|
| Other, net |
3.7
|
(16.4)
|
| Decrease (increase) in assets — |
|
|
| Accounts receivable |
(36.0)
|
(37.5)
|
| Inventories |
4.1
|
(31.0)
|
| Prepaid expenses and other current assets |
(11.2)
|
(16.8)
|
| Increase (decrease) in liabilities — |
|
|
| Accounts payable |
13.6
|
(14.1)
|
| Accrued liabilities |
10.8
|
5.2
|
| Federal and state income taxes payable / receivable |
6.2
|
7.4
|
| Net cash provided by operating activities |
588.2
|
542.0
|
| Cash Flows from Investing Activities: |
|
|
| Additions to property, plant, and equipment |
(188.1)
|
(217.9)
|
| Proceeds from sale of a business |
0.0
|
23.0
|
| Acquisition of business, net of cash acquired |
(385.6)
|
0.0
|
| Additions to other long-term assets |
(9.4)
|
(9.2)
|
| Other, net |
0.4
|
1.3
|
| Net cash used for investing activities |
(582.7)
|
(202.8)
|
| Cash Flows from Financing Activities: |
|
|
| Repayments of debt and capital lease obligations |
(30.7)
|
(30.7)
|
| Proceeds from issuance of debt |
385.0
|
0.0
|
| Financing costs paid |
(2.1)
|
0.0
|
| Common stock dividends paid |
(156.7)
|
(147.3)
|
| Repurchases of common stock |
(100.3)
|
(98.1)
|
| Excess tax benefits from stock-based awards |
5.3
|
5.6
|
| Shares withheld to cover employee restricted stock taxes |
(10.2)
|
(7.4)
|
| Other, net |
(0.2)
|
0.7
|
| Net cash provided by (used for) financing activities |
90.1
|
(277.2)
|
| Net increase in cash and cash equivalents |
95.6
|
62.0
|
| Cash and cash equivalents, beginning of period |
184.2
|
124.9
|
| Cash and cash equivalents, end of period |
$ 279.8
|
$ 186.9
|