Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income (loss) $ 9.2 $ 29.6 $ (30.5)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 46.6 38.1 52.1
Loss on disposal of discontinued operations 0.0 0.2 3.5
Impairment on assets of discontinued operations 0.0 0.0 11.9
Fixed and intangible asset impairments 0.0 0.0 15.4
Deferred income taxes (5.2) (56.0) 30.4
Stock-based compensation 5.7 0.0 0.0
U.S. pension expense 6.5 0.0 0.0
Other non-cash adjustments, net 6.0 (3.7) (2.2)
Changes in operating assets and liabilities:      
Receivables (3.2) 6.5 (11.7)
Inventories (19.8) 12.1 (18.3)
Accounts payable and accrued expenses 9.9 23.4 (6.0)
Income taxes payable (0.6) 5.5 (22.5)
Other assets and liabilities (1.1) (3.1) (8.9)
Net cash provided by operating activities 54.0 52.6 13.2
Cash flows from investing activities:      
Purchases of property, plant and equipment (37.6) (61.6) (83.3)
Net cash effect related to discontinued operations 0.0 0.0 (4.1)
Other investing activities 0.7 3.3 8.7
Net cash used for investing activities (36.9) (58.3) (78.7)
Cash flows from financing activities:      
Proceeds from revolving credit facility 110.0 0.0 0.0
Payments on revolving credit facility (90.0) 0.0 0.0
Financing costs (1.4) 0.0 0.0
Payments of long-term debt (10.0) 0.0 0.0
Cash distribution paid to AWI (50.0) 0.0 0.0
Proceeds from exercised stock options 0.3 0.0 0.0
Proceeds from company owned life insurance loans, net 0.0 0.4 0.5
Net transfers from AWI 55.6 5.3 42.1
Net cash provided by financing activities 14.5 5.7 42.6
Effect of exchange rate changes on cash and cash equivalents (1.0) 0.0 0.0
Net increase (decrease) in cash and cash equivalents 30.6 0.0 (22.9)
Cash and cash equivalents at beginning of year 0.0 0.0 22.9
Cash and cash equivalents at end of period 30.6 0.0 0.0
Supplemental Cash Flow Disclosure:      
Amounts in accounts payable for capital expenditures 12.9 3.7 10.4
Interest paid 1.5 0.0 0.0
Income taxes paid, net 8.1 0.0 0.0
Supplemental Schedule of Non-Cash Investing and Financing Activities:      
Capital expenditures funded by capital lease borrowings $ 1.2 $ 0.0 $ 0.0