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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income (loss) [1] $ 230.3 $ 70.2
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization [1] 79.3 82.6
Stock-based compensation [1] 13.1 12.7
Certain interest expense and other financing costs [1] 2.6 4.6
Loss on debt extinguishment [1] 0.0 60.2
Gain on sale of fixed assets and other [1] (2.9) (2.1)
Deferred income taxes [1] 0.7 (78.0)
Loss on sale of business [1] 0.0 6.6
Changes in operating assets and liabilities:    
Accounts receivable [1] (466.1) (216.6)
Inventories [1] (385.0) (220.8)
Prepaid expenses and other current assets [1] (47.1) (19.3)
Accounts payable and accrued expenses [1] 383.7 318.8
Other assets and liabilities [1] 4.4 (0.2)
Net cash provided by (used in) operating activities [1] (187.0) 18.7
Investing Activities    
Purchases of property and equipment [1] (39.8) (29.4)
Acquisition of business, net [1] (16.7) 0.0
Proceeds from sale of business [1] 0.0 837.4
Proceeds from the sale of assets [1] 3.0 2.4
Net cash provided by (used in) investing activities [1] (53.5) 810.4
Financing Activities    
Borrowings under revolving lines of credit [1] 1,365.9 250.0
Payments under revolving lines of credit [1] (898.1) (407.0)
Borrowings under term loan [1] 0.0 1,000.0
Payments under term loan [1] (5.0) (943.4)
Borrowings under senior notes [1] 0.0 350.0
Payment under senior notes [1] 0.0 (1,300.0)
Payment of debt issuance costs [1] 0.0 (20.3)
Payment of call premium [1] 0.0 (31.7)
Payments under equipment financing facilities and finance leases [1] (4.9) (3.2)
Repurchase and retirement of common stock, net [1] (338.1) 0.0
Advance payment for equity forward contract [1] (50.0) 0.0
Payment of dividends on Preferred Stock [1] (12.0) (12.0)
Proceeds from issuance of common stock related to equity awards [1] 12.2 17.7
Payment of taxes related to net share settlement of equity awards [1] (0.4) (1.7)
Net cash provided by (used in) financing activities [1] 69.6 (1,101.6)
Effect of exchange rate changes on cash and cash equivalents [1] (0.3) 0.0
Net increase (decrease) in cash and cash equivalents [1] (171.2) (272.5)
Cash and cash equivalent, beginning of period [1] 54.6 188.9
Cash and cash equivalent, end of period [1] 225.8 461.4
Supplemental Cash Flow Information    
Operating cash flows provided by (used in) discontinued operations [1] 0.0 (21.8)
Interest [1] 37.1 58.6
Income taxes, net of refunds [1],[2] $ 57.4 $ 52.6
[1] Unless otherwise noted, amounts include both continuing and discontinued operations.
[2] Six months ended June 30, 2022 amount includes $18.6 million related to the transition period from October 1, 2021 to December 31, 2021. Six months ended June 30, 2021 amount includes $46.6 million related to the Interior Products divestiture.