Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net (loss) income $ (41.8) $ 9.2 $ 29.6
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 78.7 46.6 38.1
Loss on disposal of discontinued operations 0.0 0.0 0.2
Intangible asset impairment 12.5 0.0 0.0
Deferred income taxes (3.0) (5.2) (56.0)
Stock-based compensation 2.2 5.7 0.0
U.S. pension expense 8.9 6.5 0.0
Other non-cash adjustments, net (0.6) 6.0 (3.7)
Changes in operating assets and liabilities:      
Receivables (2.5) (3.2) 6.5
Inventories 30.4 (19.8) 12.1
Accounts payable and accrued expenses (10.5) 9.9 23.4
Income taxes payable and receivable (3.0) (0.6) 5.5
Other assets and liabilities (8.4) (1.1) (3.1)
Net cash provided by operating activities 62.9 54.0 52.6
Cash flows from investing activities:      
Purchases of property, plant and equipment (44.8) (37.6) (61.6)
Cash paid for acquisition (36.1) 0.0 0.0
Other investing activities 0.4 0.7 3.3
Net cash used for investing activities (80.5) (36.9) (58.3)
Cash flows from financing activities:      
Proceeds from revolving credit facility 90.0 110.0 0.0
Payments on revolving credit facility (25.0) (90.0) 0.0
Financing costs 0.0 (1.4) 0.0
Payments of long-term debt 0.0 (10.0) 0.0
Payments on capital lease (0.2) 0.0 0.0
Purchases of treasury stock (40.0) 0.0 0.0
Cash distribution paid to AWI 0.0 (50.0) 0.0
Proceeds from exercised stock options 1.4 0.3 0.0
Value of shares withheld related to employee tax withholding (1.8) 0.0 0.0
Proceeds from company owned life insurance loans, net 0.0 0.0 0.4
Net transfers from AWI 0.0 55.6 5.3
Net cash provided by financing activities 24.4 14.5 5.7
Effect of exchange rate changes on cash and cash equivalents 1.6 (1.0) 0.0
Net increase in cash and cash equivalents 8.4 30.6 0.0
Cash and cash equivalents at beginning of year 30.6 0.0 0.0
Cash and cash equivalents at end of year 39.0 30.6 0.0
Supplemental Cash Flow Disclosure:      
Amounts in accounts payable for capital expenditures 7.8 12.9 3.7
Interest paid 2.8 1.5 0.0
Income taxes (refunded) paid, net (2.8) 8.1 0.0
Supplemental Schedule of Non-Cash Investing and Financing Activities:      
Capital expenditures funded by capital lease borrowings $ 0.0 $ 1.2 $ 0.0