v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income attributable to common shareholders $ 67.1 $ 107.1
Less: Income from discontinued operations, net of tax 0.0 28.8
Net income from continuing operations attributable to common shareholders 67.1 78.3
Depreciation and amortization 28.1 12.5
Stock-based compensation expense 8.4 9.3
Defined benefit plans and postretirement cost 1.3 2.0
Deferred income taxes 0.0 0.0
Cash used for operating working capital (133.2) (146.4)
Defined benefit plans and postretirement contributions (0.5) (0.6)
Environmental payments, net of reimbursements (0.3) (1.1)
Other (0.4) (0.2)
Net income from continuing operations attributable to common shareholders (29.5) (46.2)
Total used for operating activities from continuing operations (29.5) (46.2)
Investing activities:    
Payment for acquisitions - net of cash acquired and working capital adjustments (1,355.4) (0.2)
Capital expenditures (10.7) (14.2)
Other investing activities 0.1 0.0
Total used for investing activities from continuing operations (1,366.0) (14.4)
Financing activities:    
Dividends paid (14.7) (13.2)
Net payments related to employee stock plans (10.9) (10.4)
Proceeds from debt 50.0 0.0
Total provided by (used for) financing activities from continuing and discontinued operations 24.4 (23.6)
Discontinued Operations:    
Total provided by investing activities(a) [1] 0.0 207.7
Increase in cash and cash equivalents from discontinued operations 0.0 207.7
Effect of exchange rate on cash and cash equivalents (3.3) 4.9
(Decrease) Increase in cash and cash equivalents (1,374.4) 128.4
Cash, cash equivalents and restricted cash at beginning of period [2] 1,729.8 306.7
Cash, cash equivalents and restricted cash at ending of period 355.4 435.1
Detail of cash used for operating working capital from continuing operations:    
Accounts receivable (48.8) (42.1)
Inventories (17.9) (8.4)
Other current assets (14.7) (7.9)
Accounts payable (27.2) (40.7)
Accrued liabilities (30.1) (60.2)
U.S. and foreign taxes on income 5.5 12.9
Total (133.2) (146.4)
Supplemental disclosure of cash flow information:    
Interest paid 15.5 3.8
Income taxes paid $ 12.5 $ 7.6
[1]
(a) For the three months ended March 31, 2025, the cash provided by investing activities from discontinued operations was from the sale of the Engineered Materials segment. See Note 3, “Discontinued Operations” for additional information.
[2]
(b) Cash, cash equivalents and restricted cash at beginning of period consisted of $1.2 billion in funds held in an escrow account related to the acquisition of Druck, Panametrics, and Reuter-Stokes brands.