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

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows
$ in Millions
 12 Months Ended
Mar. 31, 2018
USD ($)
Mar. 31, 2017
USD ($)
Mar. 31, 2016
USD ($)
Cash Flows From Operating Activities      
Net income $ 146,100,000 $ 276,500,000 $ 244,400,000
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 92,000,000 83,200,000 79,800,000
Deferred income taxes (76,800,000) 26,000,000 (100,000)
Stock-based compensation 11,100,000 9,300,000 10,300,000
Asbestos adjustments 156,400,000 (40,400,000) (5,500,000)
Excess tax benefits from share-based awards (800,000) (3,000,000) (400,000)
Loss on early debt extinguishment 26,100,000 0 0
Other, net 12,600,000 15,000,000 14,800,000
Changes in operating assets and liabilities:      
Restricted cash and cash equivalents - Asbestos 95,200,000 900,000 100,300,000
Payment to AICF (102,200,000) (91,100,000) (62,800,000)
Accounts and other receivables (2,000,000) (28,400,000) (39,900,000)
Inventories (51,700,000) (9,700,000) 16,200,000
Prepaid expenses and other assets (2,800,000) (2,100,000) (3,900,000)
Insurance receivable - Asbestos 7,300,000 93,300,000 17,200,000
Accounts payable and accrued liabilities 14,200,000 39,600,000 (16,900,000)
Asbestos liability (104,400,000) (92,000,000) (114,900,000)
Income taxes payable 26,900,000 (2,700,000) 4,000,000
Other accrued liabilities 47,800,000 17,700,000 17,800,000
Net cash provided by operating activities 295,000,000 292,100,000 260,400,000
Cash Flows From Investing Activities      
Purchases of property, plant and equipment (203,700,000) (101,900,000) (73,200,000)
Proceeds from sale of property, plant and equipment 7,900,000 0 10,400,000
Capitalized interest (4,800,000) (2,000,000) (3,200,000)
Acquisition of assets 0 (5,100,000) (600,000)
Net cash used in investing activities (200,600,000) (109,000,000) (66,600,000)
Cash Flows From Financing Activities      
Proceeds from credit facilities 380,000,000 395,000,000 528,000,000
Repayments of credit facilities (455,000,000) (410,000,000) (413,000,000)
Proceeds from senior unsecured notes 800,000,000 77,300,000 0
Debt issuance costs (15,700,000) (1,700,000) (3,100,000)
Repayment of senior unsecured notes (400,000,000) 0 0
Call redemption premium paid to note holders (19,500,000) 0 0
Proceeds from issuance of shares 200,000 300,000 2,100,000
Excess tax benefits from share-based awards 0 3,000,000 400,000
Common stock repurchased and retired 0 (99,800,000) (22,300,000)
Dividends paid (177,500,000) (176,800,000) (246,500,000)
Net cash provided by (used in) financing activities 112,500,000 (212,700,000) (154,400,000)
Effects of exchange rate changes on cash (4,200,000) 1,400,000 700,000
Net increase (decrease) in cash and cash equivalents 202,700,000 (28,200,000) 40,100,000
Cash and cash equivalents at beginning of period 78,900,000 107,100,000 67,000,000
Cash and cash equivalents at end of period 281,600,000 78,900,000 107,100,000
Components of Cash and Cash Equivalents      
Cash and cash equivalents at end of period 78,900,000 107,100,000 67,000,000
Supplemental Disclosure of Cash Flow Activities      
Cash paid during the year for interest 26,300,000 26,200,000 20,500,000
Cash paid during the year for income taxes, net $ 49,100,000 $ 51,500,000 $ 57,800,000