XML 37 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows From (For) Operating Activities      
Net income (loss) $ (140.6) $ (68.9) $ (162.6)
Adjustments to derive cash flows:      
Depreciation and amortization 338.6 312.2 384.8
Gain on sale of business 0.0 (47.5) 20.9
Share-based compensation 54.9 60.1 58.5
Impairment charges 0.0 173.1 346.8
Change in financial assets 0.0 0.0 96.4
Foreign currency remeasurement loss 39.4 0.0 0.0
Restructuring charges 42.5 16.9 3.5
Deferred income taxes (50.5) 9.4 (54.5)
Amortization of debt premium (0.7) (3.8) (2.4)
Other non-cash adjustments, net 3.7 0.2 14.0
Subtotal 287.3 451.7 705.4
Increase (decrease) in cash due to:      
Accounts receivable 0.1 (159.7) 168.9
Inventories (76.7) (2.4) (170.6)
Prepaid expenses 25.9 0.0 (12.3)
Accounts payable 100.3 (7.9) (2.7)
Payroll and related taxes (38.2) (53.0) 10.8
Accrued customer programs 11.2 1.4 (43.3)
Accrued liabilities 10.1 (21.4) (23.1)
Accrued income taxes (47.9) (47.7) (7.0)
Other, net 35.2 (4.7) 10.1
Subtotal 20.0 (295.4) (69.2)
Net cash from operating activities 307.3 156.3 636.2
Cash Flows From (For) Investing Activities      
Proceeds from royalty rights 3.3 3.8 4.1
Acquisitions of businesses, net of cash acquired (2,011.4) 0.0 (168.5)
Purchase of equity method investment 0.0 0.0 (15.0)
Asset (acquisitions) sales, net 25.5    
Asset (acquisitions) sales, net   (70.6) (35.2)
Settlement of acquisition and designated foreign currency derivatives 61.7 0.0 0.0
Additions to property, plant and equipment (96.4) (152.1) (170.4)
Net proceeds from sale of businesses 58.7 1,491.9 187.8
Other investing, net 0.0 2.8 9.4
Net cash from (for) investing activities (1,958.6) 1,275.8 (187.8)
Cash Flows From (For) Financing Activities      
Borrowings (repayments) of revolving credit agreements and other financing, net (11.7) (30.6) (3.9)
Issuances of long-term debt 1,587.3 0.0 743.8
Payments on long-term debt (958.9) 0.0 (590.0)
Deferred financing fees (20.9) 0.0 (6.7)
Premiums on early debt retirement 0.0 0.0 (19.0)
Payments for debt issuance costs (12.2) 0.0 0.0
Repurchase of ordinary shares 0.0 0.0 (164.2)
Cash dividends (142.4) (129.6) (123.9)
Other financing, net (19.6) (18.5) (17.2)
Net cash from (for) financing activities 421.6 (178.7) (181.1)
Effect of exchange rate changes on cash and cash equivalents (48.9) (15.6) 19.9
Net increase (decrease) in cash and cash equivalents (1,278.6) 1,237.8 287.2
Cash and cash equivalents of continuing operations, beginning of period 1,864.9 631.5 344.5
Cash and cash equivalents held for sale, beginning of period 0.0 14.4 10.0
Less cash and cash equivalents held for sale, end of period 0.0 (14.4) (10.0)
Cash and cash equivalents of continuing operations, end of period 600.7 1,864.9 631.5
Cash paid/received during the year for:      
Interest paid 217.0 133.0 145.8
Interest received 58.2 8.0 12.1
Income taxes paid 100.2 448.0 81.2
Income taxes refunded $ 3.4 $ 17.1 $ 38.3