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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (230.6) $ (436.3)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Depreciation and amortization 139.9 146.7
Amortization of deferred financing fees and issuance discount 11.8 7.3
Deferred income tax (benefit) 8.7 (101.5)
Share-based compensation expense 11.8 16.1
Earnings of unconsolidated affiliate, net of dividends (10.8) 5.8
Unrealized net gain on foreign exchange forward contracts (1.0) (21.6)
Unrealized net loss (gain) on commodity economic swap contracts (1.3) 1.1
Pension curtailment and settlement gain (0.9) (0.6)
Loss on extinguishment of long-term debt 0.6 6.3
Gain on sale of other assets (7.3) (25.6)
Impairment charges or write-offs   349.5
Changes in assets and liabilities    
Accounts receivable 17.9 54.5
Inventories (27.1) 107.0
Accounts payable and other current liabilities 14.9 (2.5)
Income taxes payable (4.5) 20.7
Other assets, net (13.0) 14.2
Other liabilities, net (8.4) (9.9)
Cash provided by (used in) operating activities (99.3) 131.2
Cash flows from investing activities    
Capital expenditures (42.1) (49.1)
Proceeds from the sale of other assets 8.2 38.0
Cash used in investing activities (33.9) (11.1)
Cash flows from financing activities    
Deferred financing fees (4.6) (9.5)
Short-term borrowings, net (14.0) (8.9)
Dividends paid (1.3) (17.6)
Proceeds from exercise of option awards   0.1
Withholding taxes paid on restricted share units   (2.0)
Acquisition-related contingent consideration payment (0.7) (1.2)
Net proceeds from issuance of 2028 Refinance Term Loans   1,044.9
Repurchases and repayments of long-term debt (13.7) (1,054.0)
Proceeds from Accounts Receivable Securitization Facility 438.2  
Repayments of Accounts Receivable Securitization Facility (363.2)  
Cash provided by (used in) financing activities 40.7 (48.2)
Effect of exchange rates on cash (1.0) (5.0)
Net change in cash, cash equivalents, and restricted cash (93.5) 66.9
Cash, cash equivalents, and restricted cash-beginning of period 261.1 211.7
Cash, cash equivalents, and restricted cash-end of period 167.6 278.6
Less: Restricted cash 2.3  
Cash and cash equivalents-end of period $ 165.3 $ 278.6