| Period Ended |
12/31/07 |
12/31/06 |
12/31/05 |
| CASH PROVIDED (USED) |
| Operating Activities |
| Net Income |
$220.1 |
$222.5 |
$260.3 |
| Net (income) from discontinued operations |
(0.7) |
(46.1) |
(26.6) |
Adjustments to reconcile income from continuing operations
to net cash provided by operating activities: |
|
| Depreciation and amortization |
218.4 |
196.6 |
209.7 |
| Impairment and restructuring charges |
11.7 |
15.3 |
0.8 |
| Loss on sale of assets |
7.0 |
65.3 |
0.2 |
| Deferred income tax provision (benefit) |
11.4 |
(26.4) |
81.4 |
| Stock-based compensation expense |
16.1 |
15.6 |
9.3 |
| Pension and postretirement expense |
121.9 |
151.5 |
169.3 |
| Pension and other postretirement benefit payments |
(152.9) |
(316.4) |
(290.1) |
| Changes in operating assets and liabilities: |
| Accounts receivable |
(15.7) |
(6.0) |
(12.4) |
| Inventories |
(44.2) |
(6.7) |
(137.3) |
| Accounts Payable and accrued expenses |
(26.1) |
40.9 |
65.9 |
| Other - net |
(31.0) |
(13.5) |
(13.5) |
|
---------------------------------------------------------------------------------------------------------------------------- |
| Net Cash Provided by Operating Activities - Continuing Operations |
336.0 |
292.6 |
317.0 |
| Net Cash Provided (Used) by Operating Activities - |
| Discontinued Operations |
0.7 |
44.3 |
1.7 |
|
----------------------------------------------------------------------------------------------------------------------------- |
| Net Cash Provided by Operating Activities |
336.7 |
336.9 |
318.7 |
| |
| Investing Activities |
| Capitial expenditures |
(314.0) |
(296.1) |
(217.4) |
| Proceeds from disposals of property, plant and equipment |
21.2 |
9.2 |
5.3 |
| Divestitures |
0.7 |
203.3 |
21.8 |
| Acquistions |
(204.4) |
(18.0) |
(49.0) |
| Other |
(0.1) |
(2.9) |
4.6 |
|
----------------------------------------------------------------------------------------------------------------------------- |
| Net Cash Used by Investing Activities - Continuing Operations |
(496.6) |
(104.5) |
(234.7) |
| Net Cash Used by Investing Activities - Discontinued Operations |
|
(26.4) |
(8.1) |
|
----------------------------------------------------------------------------------------------------------------------------- |
| Net Cash Used by Investing Activities |
(496.6) |
(130.9) |
(242.8) |
| |
| Financing Activities |
| Cash dividends paid to shareholders |
(63.0) |
(58.2) |
(55.1) |
| Net proceeds from common share activity |
37.8 |
23.0 |
39.8 |
| Accounts receivable securitization financing borrowings |
|
170.0 |
231.5 |
| Accounts receivable securitization financing payments |
|
(170.0) |
(231.5) |
| Proceeds from issuance of long-term debt |
286.2 |
272.5 |
346.4 |
| Payments on long-term debt |
(240.6) |
(392.1) |
(308.2) |
| Short-term debt activity -- net |
58.6 |
(21.9) |
(79.2) |
|
----------------------------------------------------------------------------------------------------------------------------- |
| Net Cash Used by Financing Activites |
79.0 |
(176.7) |
(56.3) |
| Effect of exchange rate changes on cash |
9.9 |
6.4 |
(5.2) |
|
----------------------------------------------------------------------------------------------------------------------------- |
| Increase In Cash and Cash Equivalents |
(71.0) |
35.7 |
14.4 |
| Cash and cash equivalents at beginning of year |
101.1 |
65.4 |
51.0 |
|
----------------------------------------------------------------------------------------------------------------------------- |
| Cash and Cash Equivalents at End of Year |
$30.1 |
$101.1 |
$65.4 |
See accompanying Notes to Consolidated Financial Statements filed in the latest Form 10-K