Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows
$ in Millions
 12 Months Ended
Mar. 31, 2019
USD ($)
Mar. 31, 2018
USD ($)
Mar. 31, 2017
USD ($)
Cash Flows From Operating Activities      
Net income $ 228,800,000 $ 146,100,000 $ 276,500,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 119,400,000 92,000,000 83,200,000
Deferred income taxes 12,700,000 (76,800,000) 26,000,000
Stock-based compensation 12,500,000 11,100,000 9,300,000
Asbestos adjustments 22,000,000 156,400,000 (40,400,000)
Excess tax benefits from share-based awards 0 (800,000) (3,000,000)
Asset impairments 15,900,000 0 0
Loss on early debt extinguishment 1,000,000 26,100,000 0
Other, net 16,300,000 12,600,000 15,000,000
Changes in operating assets and liabilities:      
Accounts and other receivables (18,100,000) (2,000,000) (28,400,000)
Inventories (28,600,000) (51,700,000) (9,700,000)
Prepaid expenses and other assets (1,700,000) (2,800,000) (2,100,000)
Insurance receivable - Asbestos 4,800,000 7,300,000 93,300,000
Accounts payable and accrued liabilities (12,900,000) 14,200,000 39,600,000
Asbestos claims paid (108,800,000) (104,400,000) (91,800,000)
Income taxes payable 8,800,000 26,900,000 (2,700,000)
Other accrued liabilities 15,500,000 47,800,000 17,700,000
Net cash provided by operating activities 287,600,000 302,000,000 382,500,000
Cash Flows From Investing Activities      
Purchases of property, plant and equipment (301,100,000) (203,700,000) (101,900,000)
Proceeds from sale of property, plant and equipment 0 7,900,000 0
Capitalized interest (5,400,000) (4,800,000) (2,000,000)
Acquisition of business, net of cash acquired (558,700,000) 0 0
Acquisition of assets 0 0 (5,100,000)
Purchase of restricted short-term investments - Asbestos (89,100,000) (78,400,000) 0
Proceeds from restricted short-term investments - Asbestos 106,300,000 40,000,000 0
Net cash used in investing activities (848,000,000) (239,000,000) (109,000,000)
Cash Flows From Financing Activities      
Proceeds from credit facilities 230,000,000 380,000,000 395,000,000
Repayments of credit facilities (180,000,000) (455,000,000) (410,000,000)
Proceeds from 364-day term loan facility 492,400,000 0 0
Repayments of 364-day term loan facility (458,800,000) 0 0
Proceeds from senior unsecured notes 458,800,000 800,000,000 77,300,000
Debt issuance costs (6,100,000) (15,700,000) (1,700,000)
Repayment of senior unsecured notes 0 (400,000,000) 0
Call redemption premium paid to note holders 0 (19,500,000) 0
Proceeds from issuance of shares 0 200,000 300,000
Excess tax benefits from share-based awards 0 0 3,000,000
Common stock repurchased and retired 0 0 (99,800,000)
Dividends paid (172,100,000) (177,500,000) (176,800,000)
Proceeds from NSW Loan - Asbestos 0 0 77,000,000
Repayments of NSW Loan - Asbestos 0 (51,900,000) (74,300,000)
Net cash provided by (used in) financing activities 364,200,000 60,600,000 (210,000,000)
Effects of exchange rate changes on cash and cash equivalents, restricted cash and restricted cash - Asbestos 6,600,000 (3,200,000) 200,000
Net (decrease) increase in cash and cash equivalents, restricted cash and restricted cash - Asbestos (189,600,000) 120,400,000 63,700,000
Cash and cash equivalents, restricted cash and restricted cash - Asbestos at beginning of period 313,200,000 192,800,000 129,100,000
Cash and cash equivalents, restricted cash and restricted cash - Asbestos at end of period 123,600,000 313,200,000 192,800,000
Supplemental Disclosure of Cash Flow Activities      
Cash paid during the year for interest 57,000,000 26,300,000 26,200,000
Cash paid during the year for income taxes, net 26,300,000 49,100,000 51,500,000
Cash paid to AICF $ (103,000,000) $ (102,200,000) $ (91,100,000)