Consolidated Statements of Cash Flows - USD ($)
$ in Millions |
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 260.6
|
$ 219.6
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, depletion, and amortization of intangibles |
186.2
|
176.3
|
| Amortization of deferred financing costs |
4.0
|
3.8
|
| Share-based compensation expense |
10.2
|
10.3
|
| Deferred income tax provision |
3.9
|
1.3
|
| Pension and post retirement benefits expense, net of contributions |
4.9
|
8.7
|
| Other, net |
0.7
|
4.2
|
| (Increase) decrease in assets — |
|
|
| Accounts receivable |
(66.1)
|
(26.9)
|
| Inventories |
(10.8)
|
5.5
|
| Prepaid expenses and other current assets |
(20.0)
|
(27.5)
|
| Increase (decrease) in liabilities — |
|
|
| Accounts payable |
18.8
|
(4.0)
|
| Accrued liabilities |
(24.1)
|
(23.3)
|
| Federal and state income taxes payable / receivable |
17.3
|
28.2
|
| Net cash provided by operating activities |
385.6
|
376.2
|
| Cash Flows from Investing Activities: |
|
|
| Additions to property, plant, and equipment |
(139.4)
|
(121.8)
|
| Additions to other long term assets |
(5.5)
|
(6.2)
|
| Proceeds from disposals |
2.9
|
0.3
|
| Other, net |
1.1
|
|
| Net cash used for investing activities |
(140.9)
|
(127.7)
|
| Cash Flows from Financing Activities: |
|
|
| Repayments of debt and capital lease obligations |
(33.7)
|
(3.8)
|
| Common stock dividends paid |
(118.8)
|
(104.9)
|
| Repurchases of common stock |
0.0
|
(100.3)
|
| Shares withheld to cover employee restricted stock taxes |
(10.5)
|
(10.1)
|
| Net cash used for financing activities |
(163.0)
|
(219.1)
|
| Net increase in cash and cash equivalents |
81.7
|
29.4
|
| Cash and cash equivalents, beginning of period |
239.3
|
184.2
|
| Cash and cash equivalents, end of period |
$ 321.0
|
$ 213.6
|