Condensed Consolidated Statement of Cash Flows (Unaudited) (USD $) | | |
In Millions | 3 Months Ended
Mar. 31, 2010
| 3 Months Ended
Mar. 31, 2009
|
Operating Activities | | |
Consolidated net income | 113.8 | 173.8 |
Adjustments to reconcile consolidated net income to net cash provided by operating activities: | | |
Income from discontinued operations | -1.2 | -0.5 |
Restructuring and consolidation: | | |
Expenses | 0.3 | 4.9 |
Payments | -3.5 | -2.6 |
Pension and postretirement benefits: | | |
Expenses | 47.6 | 51.6 |
Contributions and benefit payments | -112.7 | -17.7 |
Depreciation and amortization | 67.1 | 60 |
Excess tax benefits related to share-based payment arrangements | (8) | -0.6 |
Share-based compensation expense | 18.2 | 13.4 |
Deferred income taxes | 5.8 | 6.2 |
Change in assets and liabilities, net of effects of acquisitions and divestitures: | | |
Receivables | -100.5 | -100.1 |
Inventories, net of pre-production and excess-over-average | -7.4 | -61.2 |
Pre-production and excess-over-average inventories | -50.3 | -27.5 |
Other current assets | -2.3 | -1.8 |
Accounts payable | 68 | 41.5 |
Accrued expenses | -52.6 | (102) |
Income taxes payable/receivable | 37.5 | 52.8 |
Other non-current assets and liabilities | 9.7 | -23.6 |
Net Cash Provided By Operating Activities | 29.5 | 66.6 |
Investing Activities | | |
Purchases of property, plant and equipment | -20.9 | -34.2 |
Proceeds from sale of property, plant and equipment | 0.1 | 0.8 |
Investments in and advances to equity investees | -0.5 | -0.5 |
Net Cash Used In Investing Activities | -21.3 | -33.9 |
Financing Activities | | |
Increase (decrease) in short-term debt, net | 1.1 | -1.8 |
Proceeds (repayments) of long-term debt and capital lease obligations | | 297.6 |
Proceeds from issuance of common stock | 35.2 | 11.5 |
Purchases of treasury stock | -42.8 | -6.5 |
Dividends paid | -34.1 | -31.2 |
Excess tax benefits related to share-based payment arrangements | 8 | 0.6 |
Distributions to noncontrolling interests | -0.6 | -6.5 |
Net Cash Provided By (Used In) Financing Activities | -33.2 | 263.7 |
Discontinued Operations | | |
Net cash (used in) provided by operating activities | -0.2 | 0.5 |
Net cash (used in) provided by investing activities | 0 | |
Net cash (used in) provided by financing activities | 0 | |
Net cash (used in) provided by discontinued operations | -0.2 | 0.5 |
Effect of exchange rate changes on cash and cash equivalents | -7.4 | -2.1 |
Net increase (decrease) in cash and cash equivalents | -32.6 | 294.8 |
Cash and cash equivalents at beginning of period | 811 | 370.3 |
Cash and cash equivalents at end of period | 778.4 | 665.1 |