Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 7.7 $ (19.5)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:    
Depreciation and amortization 23.0 20.9
Inventory write down 1.2 0.0
Deferred income taxes (0.7) (0.6)
Stock-based compensation expense 1.4 1.3
Gain on sale of property (46.0) 0.0
Gain from long-term disability plan change 0.0 (1.1)
U.S. pension expense (income) (3.5) 1.9
Other non-cash adjustments, net 0.3 0.5
Changes in operating assets and liabilities:    
Receivables (17.4) (9.2)
Inventories (2.2) (11.0)
Accounts payable and accrued expenses 9.5 15.4
Other assets and liabilities (5.0) (5.5)
Net cash provided by (used for) operating activities (31.7) (6.9)
Cash flows from investing activities:    
Purchases of property, plant and equipment (11.1) (10.9)
Proceeds from sale of assets 65.4 0.0
Net cash provided by (used for) investing activities 54.3 (10.9)
Cash flows from financing activities:    
Proceeds from revolving credit facility 49.3 41.2
Payments on revolving credit facility (50.1) (79.2)
Issuance of long-term debt 0.2 70.0
Financing costs 0.0 6.9
Payments on long-term debt (21.1) (0.1)
Value of shares withheld related to employee tax withholding (0.1) 0.0
Net cash provided by (used for) financing activities (21.8) 25.0
Effect of exchange rate changes on cash and cash equivalents 0.1 (0.2)
Net increase (decrease) in cash and cash equivalents 0.9 7.0
Cash and cash equivalents at beginning of year 13.7 27.1
Cash and cash equivalents at end of period 14.6 34.1
Supplemental Cash Flow Disclosure:    
Interest paid 5.3 1.7
Income taxes paid, net 0.2 0.4
Amounts in accounts payable for capital expenditures $ 3.6 $ 2.0