Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities      
Net earnings $ 769.2 $ 50.0 $ 71.9
Less: net loss from discontinued operations, net of tax (6.0) (97.4) (18.7)
Net earnings from continuing operations 775.2 147.4 90.6
Depreciation and amortization 87.5 90.0 99.4
Pension funding, net of expense (35.3) (44.3) (47.4)
Gains on sale of property, plant and equipment, net (5.2) (2.9) (12.4)
Other long-lived asset impairment charges 7.4 11.3 0.5
Deferred income taxes (604.4) 8.3 (0.7)
Excess tax benefits from share-based compensation (37.2) (5.3) 0
Equity in losses of unconsolidated affiliates, net of dividends 2.5 4.1 5.1
Loss on early extinguishment of debt 32.8 16.3 19.8
Changes in certain current assets and current liabilities      
Change in accounts and notes receivable (15.6) (19.6) (2.0)
Change in inventory (21.7) (73.1) (32.1)
Change in prepaid expense and other (2.2) 1.0 (1.2)
Change in accounts payable (18.0) 57.8 0.9
Change in accrued expenses (8.7) (44.8) (11.0)
Income taxes 26.9 2.4 4.2
Other, net 20.8 35.0 21.5
Net cash provided by operating activities of continuing operations 204.8 183.6 135.2
Net cash used for operating activities of discontinued operations (34.7) (22.9) (46.1)
Net cash provided by operating activities 170.1 160.7 89.1
Cash flows from investing activities      
Capital expenditures (148.1) (115.2) (87.1)
Purchases of marketable securities (21.6) (205.9) (264.4)
Sales or maturities of marketable securities 152.6 227.7 196.9
Reduction in (transfer to) restricted cash 6.5 7.0 (20.0)
Investments (1.5) 1.7 (0.9)
Proceeds from the sale of property, plant and equipment 17.8 18.8 30.5
Other, net 1.4 3.0 13.2
Net cash provided by (used for) investing activities of continuing operations 7.1 (62.9) (131.8)
Net cash provided by (used for) investing activities of discontinued operations 11.5 (3.2) (2.6)
Net cash provided by (used for) investing activities 18.6 (66.1) (134.4)
Cash flows from financing activities      
Net (payments) issuances of short-term debt (1.7) 0.8 0.5
Net proceeds from issuance of long-term debt 146.6 0 0
Payments of long-term debt including current maturities (262.4) (131.8) (146.0)
Net premium paid on early extinguishment of debt (24.6) (14.7) (17.3)
Cash dividends paid (9.1) (4.5) (4.5)
Excess tax benefits from share-based compensation 37.2 5.3 0
Proceeds from stock compensation activity, net of withholdings (2.5) (3.6) 4.0
Other, net 0 0 (4.6)
Net cash used for financing activities of continuing operations (116.5) (148.5) (167.9)
Net cash used for financing activities of discontinued operations 0 0 0
Net cash used for financing activities (116.5) (148.5) (167.9)
Net increase (decrease) in cash and cash equivalents 72.2 (53.9) (213.2)
Cash and cash equivalents at beginning of period 284.3 338.2 551.4
Cash and cash equivalents at end of period 356.5 284.3 338.2
Supplemental cash flow disclosures:      
Interest paid 82.6 90.8 106.7
Income taxes paid, net $ 31.9 $ 17.6 $ 16.6