Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net (loss) $ (58.5) $ (163.0) $ (41.8)
Adjustments to reconcile net (loss) to net cash provided by operating activities:      
Depreciation and amortization 50.7 55.1 78.7
(Gain) loss on disposal of discontinued operations (10.4) 153.8 0.0
Intangible asset impairment 0.0 0.0 12.5
Inventory Write-down 13.6 0.0 0.0
Deferred income taxes 1.1 2.4 (3.0)
Stock-based compensation 1.2 5.4 2.2
U.S. pension expense 5.6 6.8 8.9
Write off of debt financing costs 0.8 0.6 0.0
Other non-cash adjustments, net 0.2 (0.8) (0.6)
Changes in operating assets and liabilities:      
Receivables 2.9 16.3 (2.5)
Inventories 14.1 (39.4) 30.4
Accounts payable and accrued expenses (26.0) 16.8 (10.5)
Income taxes payable and receivable (0.5) 2.8 (3.0)
Other assets and liabilities (0.8) 5.7 (8.4)
Net cash (used for) provided by operating activities (6.0) 62.5 62.9
Cash flows from investing activities:      
Purchases of property, plant and equipment (28.9) (35.3) (44.8)
Post Closing Expense on Divestiture of Business (1.9)    
Net (payments) proceeds related to sale of discontinued operations   90.2 0.0
Proceeds from the sale of assets 1.4 5.7 0.4
Cash paid for acquisition 0.0 0.0 (36.1)
Net cash (used for) provided by investing activities (29.4) 60.6 (80.5)
Cash flows from financing activities:      
Proceeds from revolving credit facility 47.2 82.0 90.0
Payments on revolving credit facility (30.0) (142.0) (25.0)
Issuance of long-term debt 0.0 75.0 0.0
Payments of long-term debt (75.3) 0.0 0.0
Financing costs (0.8) (0.7) 0.0
Payments on capital lease 0.0 (0.2) (0.2)
Purchases of treasury stock (51.4) (1.0) (40.0)
Proceeds from exercised stock options 0.1 0.8 1.4
Value of shares withheld related to employee tax withholding (0.9) (0.6) (1.8)
Net cash provided by financing activities (111.1) 13.3 24.4
Effect of exchange rate changes on cash and cash equivalents (0.2) (1.6) 1.6
Net increase in cash and cash equivalents (146.7) 134.8 8.4
Cash and cash equivalents at beginning of year 173.8 39.0 30.6
Cash and cash equivalents at end of year 27.1 173.8 39.0
Cash and cash equivalents at end of year from discontinued operations 0.0 0.0 (1.1)
Cash and cash equivalents at end of year of continuing operations 27.1 173.8 40.1
Supplemental Cash Flow Disclosure:      
Amounts in accounts payable for capital expenditures 5.6 8.5 7.8
Interest Paid, Excluding Capitalized Interest, Operating Activities 3.1 3.4 2.8
Income taxes (refunded) paid, net $ 1.0 $ (1.4) $ (2.8)