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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From (For) Operating Activities      
Net income (loss) $ (12.7) $ (140.6) $ (68.9)
Adjustments to derive cash flows:      
Depreciation and amortization 359.5 338.6 312.2
Impairment charges 90.0 0.0 173.1
Share-based compensation 68.8 54.9 60.1
Restructuring charges 41.1 42.5 16.9
Amortization of debt discount (premium) 2.3 (0.7) (3.8)
Loss on sale of business 0.0 0.0 (47.5)
Foreign currency remeasurement loss 0.0 39.4 0.0
Gain on sale of assets (4.1) 0.0 0.0
Deferred income taxes (106.6) (50.5) 9.4
Other non-cash adjustments, net 25.7 3.7 0.2
Subtotal 464.0 287.3 451.7
Increase (decrease) in cash due to:      
Accounts receivable (57.1) 0.1 (159.7)
Inventories 19.4 (76.7) (2.4)
Prepaid expenses and other current assets 47.5 25.9 0.0
Accounts payable (65.9) 100.3 (7.9)
Payroll and related taxes (52.8) (38.2) (53.0)
Accrued customer programs 23.2 11.2 1.4
Accrued liabilities 6.6 10.1 (21.4)
Accrued income taxes (12.9) (47.9) (47.7)
Other operating, net 33.5 35.2 (4.7)
Subtotal (58.5) 20.0 (295.4)
Net cash from operating activities 405.5 307.3 156.3
Cash Flows From (For) Investing Activities      
Proceeds from royalty rights 19.8 3.3 3.8
Acquisitions of businesses, net of cash acquired 0.0 (2,011.4) 0.0
Asset acquisitions (sales), net 4.4 25.5 (70.6)
Settlement of acquisition-related foreign currency derivatives 0.0 61.7 0.0
Additions to property, plant and equipment (101.7) (96.4) (152.1)
Net proceeds from sale of businesses 0.0 58.7 1,491.9
Other investing, net 0.0 0.0 2.8
Net cash (for) from investing activities (77.5) (1,958.6) 1,275.8
Cash Flows From (For) Financing Activities      
Issuances of long-term debt 295.1 1,587.3 0.0
Payments on long-term debt (325.3) (970.6) (30.6)
Premiums on early debt retirement 0.0 (12.2) 0.0
Payments for debt issuance costs 0.0 (20.9) 0.0
Cash dividends (149.7) (142.4) (129.6)
Other financing, net (7.3) (19.6) (18.5)
Net cash (for) from financing activities (187.2) 421.6 (178.7)
Effect of exchange rate changes on cash and cash equivalents 9.8 (48.9) (15.6)
Net increase (decrease) in cash and cash equivalents 150.6 (1,278.6) 1,237.8
Cash and cash equivalents of continuing operations, beginning of period 600.7 1,864.9 631.5
Cash and cash equivalents held for sale, beginning of period 0.0 0.0 14.4
Less cash and cash equivalents held for sale, end of period 0.0 0.0 (14.4)
Cash, cash equivalents and restricted cash of continuing operations, end of period 751.3 600.7 1,864.9
Cash paid/received during the year for:      
Interest paid 276.9 217.0 133.0
Interest received 100.8 58.2 8.0
Income taxes paid 107.5 100.2 448.0
Income taxes refunded $ 10.7 $ 3.4 $ 17.1