Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net (loss) income $ (33.4) $ 8.0
Adjustments to reconcile net (loss) income to net cash (used for) provided by operating activities:    
Depreciation and amortization 35.2 42.3
Inventory write down 13.6 0.0
Deferred income taxes (3.5) 1.5
Stock-based compensation 2.4 3.6
(Gain) loss on sale/disposal of discontinued operations (7.6) 0.0
U.S. pension expense 4.2 5.1
Other non-cash adjustments, net (0.2) 0.6
Changes in operating assets and liabilities:    
Receivables (4.5) (41.3)
Inventories 13.7 (31.7)
Accounts payable and accrued expenses (22.0) 24.5
Income taxes payable and receivable (0.2) 3.4
Other assets and liabilities 0.5 1.8
Net cash (used for) provided by operating activities (1.8) 17.8
Cash flows from investing activities:    
Purchases of property, plant and equipment (22.9) (24.3)
Net payment related to the sale of discontinued operations (1.9) 0.0
Other investing activities 0.0 0.1
Net cash used for investing activities (24.8) (24.2)
Cash flows from financing activities:    
Proceeds from revolving credit facility 0.0 57.0
Payments on revolving credit facility (25.0) (48.0)
Financing costs (0.1) 0.0
Payments on long-term debt (3.0) 0.0
Payments on capital lease 0.0 (0.2)
Purchases of treasury stock (51.3) (1.0)
Proceeds from exercised stock options 0.1 0.7
Value of shares withheld related to employee tax withholding (0.8) (0.6)
Net cash (used for) provided by financing activities (80.1) 7.9
Effect of exchange rate changes on cash and cash equivalents (0.5) (1.1)
Net (decrease) increase in cash and cash equivalents (107.2) 0.4
Cash and cash equivalents at beginning of year 173.8 39.0
Cash and cash equivalents at end of period 66.6 39.4
Cash, cash equivalents and restricted cash at end of period from discontinued operations 0.0 (3.2)
Cash, cash equivalents and restricted cash at end of period from continuing operations 66.6 42.6
Supplemental Cash Flow Disclosure:    
Amounts in accounts payable for capital expenditures 2.2 5.2
Interest paid 2.5 2.3
Income taxes paid (refunded), net $ 1.2 $ (1.6)