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, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net (loss) income $ (163.0) $ (41.8) $ 9.2
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 55.1 78.7 46.6
Loss on disposal of discontinued operations 153.8 0.0 0.0
Intangible asset impairment 0.0 12.5 0.0
Deferred income taxes 2.4 (3.0) (5.2)
Stock-based compensation 5.4 2.2 5.7
U.S. pension expense 6.8 8.9 6.5
Write off of debt financing costs 0.6 0.0 0.0
Other non-cash adjustments, net (0.8) (0.6) 6.0
Changes in operating assets and liabilities:      
Receivables 16.3 (2.5) (3.2)
Inventories (39.4) 30.4 (19.8)
Accounts payable and accrued expenses 16.8 (10.5) 9.9
Income taxes payable and receivable 2.8 (3.0) (0.6)
Other assets and liabilities 5.7 (8.4) (1.1)
Net cash provided by operating activities 62.5 62.9 54.0
Cash flows from investing activities:      
Purchases of property, plant and equipment (35.3) (44.8) (37.6)
Net proceeds from sale of discontinued operations 90.2 0.0 0.0
Proceeds from the sale of assets 5.7 0.4 0.5
Cash paid for acquisition 0.0 (36.1) 0.0
Other investing activities 0.0 0.0 0.2
Net cash provided by (used for) investing activities 60.6 (80.5) (36.9)
Cash flows from financing activities:      
Proceeds from revolving credit facility 82.0 90.0 110.0
Payments on revolving credit facility (142.0) (25.0) (90.0)
Issuance of long-term debt 75.0 0.0 0.0
Financing costs (0.7) 0.0 (1.4)
Payments of long-term debt 0.0 0.0 (10.0)
Payments on capital lease (0.2) (0.2) 0.0
Purchases of treasury stock (1.0) (40.0) 0.0
Cash distribution paid to AWI 0.0 0.0 (50.0)
Proceeds from exercised stock options 0.8 1.4 0.3
Value of shares withheld related to employee tax withholding (0.6) (1.8) 0.0
Net transfers from AWI 0.0 0.0 55.6
Net cash provided by financing activities 13.3 24.4 14.5
Effect of exchange rate changes on cash and cash equivalents (1.6) 1.6 (1.0)
Net increase in cash and cash equivalents 134.8 8.4 30.6
Cash and cash equivalents at beginning of year 39.0 30.6 0.0
Cash and cash equivalents at end of year 173.8 39.0 30.6
Cash and cash equivalents at end of year from discontinued operations 0.0 (1.1) (1.6)
Cash and cash equivalents at end of year of continuing operations 173.8 40.1 32.2
Supplemental Cash Flow Disclosure:      
Amounts in accounts payable for capital expenditures 8.5 7.8 12.9
Interest paid 3.4 2.8 1.5
Income taxes (refunded) paid, net (1.4) (2.8) 8.1
Supplemental Schedule of Non-Cash Investing and Financing Activities:      
Capital expenditures funded by capital lease borrowings $ 0.0 $ 0.0 $ 1.2