Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 51.9 $ 45.9
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Lower of cost or market adjustment to inventory 0.1 (0.8)
Unrealized (gain) loss on derivatives 1.3 1.1
Depreciation 15.6 13.5
Amortization of intangible assets 0.3 0.1
Amortization of debt discount and issuance costs 0.9 1.0
Loss on extinguishment of debt 0.5 0.2
Share-based compensation expense 4.6 6.3
Provision for bad debts, net of reductions 0.6 0.3
Deferred income taxes 7.1 11.7
Loss on disposal of property, plant and equipment 0.1 0.0
Change in assets and liabilities, net of effects of business acquisition:    
Accounts receivable (2.0) (31.2)
Inventories (10.7) (12.5)
Prepaid expenses and other current assets (0.1) 0.3
Accounts payable 5.4 8.6
Accrued liabilities (3.5) (7.4)
Income taxes, net (0.5) (3.8)
Other, net 1.7 (0.4)
Net cash provided by (used in) operating activities 73.3 32.9
Cash flows from investing activities    
Capital expenditures (17.4) (18.4)
Business acquisition (1.7) 0.0
Net cash used in investing activities (19.1) (18.4)
Cash flows from financing activities    
Borrowings on ABL Facility 0.7 0.6
Payments on ABL Facility (0.7) (0.6)
Payments of debt issuance costs (0.4) (0.2)
Proceeds from term loan, net of discount 25.4 8.7
Payments on term loan (27.8) (11.1)
Principal payments under capital lease obligation (1.4) (0.9)
Dividends paid (4.7) (3.0)
Proceeds from exercise of stock options 1.3 0.7
Share repurchases (3.4) (5.1)
Net cash used in financing activities (11.0) (10.9)
Effect of foreign currency exchange rates (1.1) (0.4)
Net increase (decrease) in cash 42.1 3.2
Cash and cash equivalents at beginning of period 59.0 88.2
Cash and cash equivalents at end of period 101.1 91.4
Noncash investing and financing activities    
Purchases of property, plant and equipment not yet paid 3.2 1.5
Acquisition of equipment under capital lease obligation $ 0.2 $ 0.0