XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 22.6 $ 27.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17.2 13.3
Non-cash stock-based compensation 5.4 4.4
Provisions (reversals) for credit losses on accounts receivable 0.7 (0.1)
Deferred income taxes 1.8 2.8
Other (1.7) 1.3
Changes in operating assets and liabilities    
Accounts receivable (11.9) (13.4)
Prepaid expenses and other current assets 3.5 10.3
Accounts payable 3.1 9.7
Accrued liabilities and other (19.7) (20.2)
Net cash provided by operating activities 21.0 35.7
Investing activities    
Purchases of property and equipment (11.3) (9.1)
Acquisition of other intangible assets 0.0 (1.8)
Proceeds from sale of equipment 0.0 0.2
Noncontrolling interest buyout (2.2) 0.0
Net cash used in investing activities (13.5) (10.7)
Financing activities    
Proceeds from credit facility revolver 256.8 173.2
Payments on credit facility revolver (232.9) (198.2)
Proceeds from credit facility term loan 0.0 17.2
Payments on credit facility term loan (2.5) (4.2)
Payments of debt issuance costs 0.0 (2.5)
Payments on other long-term borrowings (3.8) (5.4)
Payments of withholding taxes on share-based compensation (0.4) 0.0
Distributions to noncontrolling interests (1.4) (1.2)
Repurchases of common stock (11.1) (4.9)
Net cash provided by (used in) financing activities 4.7 (26.0)
Effect of exchange rate changes on cash and cash equivalents 0.0 (0.1)
Increase (decrease) in cash and cash equivalents 12.2 (1.1)
Cash and cash equivalents at beginning of year 12.4 15.7
Cash and cash equivalents at end of period 24.6 14.6
Cash paid (received) during the period for    
Interest 13.6 7.8
Income taxes, net $ 4.0 $ (12.7)