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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash provided by (used in):    
Net income $ 218.4 $ 58.6
Adjustments for items not affecting cash:    
Depreciation and amortization 218.0 145.8
Share-based payments expense 35.1 25.0
Deferred income tax benefit (31.0) (18.2)
Unrealized foreign exchange loss 0.4 6.8
Gain on disposition of property, plant and equipment (2.7) (3.9)
Allowance for expected credit losses 4.9 0.0
Loss on redemption of Notes 0.0 3.3
Gain on remeasurement of investment upon acquisition 0.0 (1.4)
Amortization of debt issuance costs 6.7 4.6
Amortization of right-of-use assets 75.8 37.9
Other, net 9.6 0.7
Net changes in operating assets and liabilities (73.1) (209.3)
Net cash provided by operating activities 462.1 49.9
Net Cash Provided by (Used in) Investing Activities [Abstract]    
Property, plant and equipment additions (73.9) (92.2)
Proceeds on disposition of property, plant and equipment 1.0 31.1
Intangible asset additions (56.2) (44.9)
Repayment of loans receivable 4.0 1.6
Issuance of loans receivable (5.5) (7.7)
Other (1.1) (0.5)
Net cash used in investing activities (131.7) (2,892.5)
Financing activities:    
Issuance of Series A Senior Preferred Shares and common stock, net of issuance costs 0.0 496.9
Dividends paid to common stockholders (98.9) (199.5)
Dividends paid to Series A Senior Preferred shareholders (17.0) (13.4)
Proceeds from exercise of options and share option plans 51.9 4.0
Payment of withholding taxes on issuance of shares (11.2) (14.5)
Net increase (decrease) in short-term debt 16.2 (11.5)
Proceeds from long-term debt 0.0 3,175.0
Repayment of long-term debt (252.2) (602.2)
Payment of debt issue costs 0.0 (41.6)
Repayment of finance lease and equipment financing obligations (12.9) (9.0)
Proceeds from equipment financing obligations 1.7 0.0
Net cash (used in) provided by financing activities (322.4) 2,784.2
Effect of changes in foreign currency rates on cash, cash equivalents, and restricted cash (10.3) 5.8
Net decrease in cash, cash equivalents, and restricted cash (2.3) (52.6)
Cash, cash equivalents, and restricted cash, beginning of period 747.9 625.9
Cash, cash equivalents, and restricted cash, end of period 745.6 573.3
IAA acquisition    
Net Cash Provided by (Used in) Investing Activities [Abstract]    
Acquisitions, net of cash acquired 0.0 (2,755.2)
VeriTread    
Net Cash Provided by (Used in) Investing Activities [Abstract]    
Acquisitions, net of cash acquired $ 0.0 $ (24.7)