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Unaudited condensed consolidated statements of cash flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 60.4 $ 121.5
Reconciling adjustments:    
Depreciation and amortization 99.6 101.1
Stock-based compensation expense 12.7 12.7
Provision for accounts receivable and inventory 24.0 12.5
Deferred income tax benefit (17.9) (26.4)
Amortization of deferred financing costs 3.0 3.4
Loss on extinguishment of debt 2.5 2.3
Foreign currency remeasurement loss 5.3 1.8
Changes in assets and liabilities:    
Accounts receivable 2.7 (52.2)
Inventory (11.0) 7.1
Accounts payable (43.6) 0.6
Accrued interest (9.5) (10.5)
Other assets and liabilities 9.3 44.1
Other 4.1 1.5
Net cash provided by operating activities 141.6 219.5
Cash flows from investing activities:    
Capital expenditures (34.7) (28.0)
Other 0.5 0.7
Net cash used in investing activities (34.2) (27.3)
Cash flows from financing activities:    
Debt borrowings 41.2 0.0
Debt repayments (210.3) (269.5)
Proceeds received from exercise of stock options 45.5 2.6
Shares repurchased to satisfy employee tax obligations for vested stock-based awards (6.6) (8.1)
Net cash used in financing activities (130.2) (275.0)
Effect of currency rate changes on cash and cash equivalents (5.7) 4.8
Net change in cash, cash equivalents and restricted cash (28.5) (78.0)
Cash, cash equivalents and restricted cash, beginning of period 287.7 396.9
Cash, cash equivalents and restricted cash, end of period $ 259.2 $ 318.9