XML 22 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
OPERATING ACTIVITIES      
Net (loss) earnings $ (33.2) $ (494.6) $ 138.4
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:      
Impairment charges-net 22.4 558.3 36.5
Depreciation and amortization 191.4 363.2 454.0
Provision for doubtful accounts receivable 3.2 22.7 15.4
Share-based compensation 8.4 12.9 17.3
Deferred income taxes 21.2 (57.6) (36.1)
Changes in uncertain tax positions (2.8) (3.6) 1.3
(Gain) loss on investments and other assets-net (2.8) (11.4) 14.3
Realized gain on disposition of available-for-sale securities-net (42.4)    
Loss related to Venezuela currency remeasurement-net     30.3
Loss on debt extinguishment 20.1 96.1  
Net pension and other postretirement benefits plan income (14.7) (59.8) (44.5)
Net loss on pension and other postretirement benefits plan settlements and curtailments 1.6 79.3  
Other 19.7 19.0 22.1
Changes in operating assets and liabilities - net of dispositions and acquisitions:      
Accounts receivable-net (57.3) (223.0) (14.2)
Inventories (20.1) (40.3) 16.5
Prepaid expenses and other current assets 3.7 2.7 26.3
Accounts payable 71.2 (20.6) 57.1
Income taxes payable and receivable 87.4 (53.7) 46.9
Accrued liabilities and other (42.7) (39.9) (90.0)
Pension and other postretirement benefits plan contributions (16.4) (22.5) (25.6)
Net cash provided by operating activities 217.9 127.2 666.0
INVESTING ACTIVITIES      
Capital expenditures (108.5) (172.1) (207.6)
Acquisitions of businesses, net of cash acquired   (48.1) (118.2)
Disposition of businesses   13.7 0.6
Proceeds from sales of investments and other assets 140.4 3.8 27.1
(Payments)/proceeds related to company-owned life insurance (7.2) 5.6 (5.7)
Other investing activities   (3.5) (18.5)
Net cash provided by (used in) investing activities 24.7 (200.6) (322.3)
FINANCING ACTIVITIES      
Proceeds from issuance of long-term debt   1,164.0  
Net change in other short-term debt 3.7 (17.5) 11.9
Payments of current maturities and long-term debt (201.6) (1,013.2) (272.7)
Proceeds from credit facility borrowings 1,437.0 850.0  
Payments on credit facility borrowings (1,406.0) (665.0)  
Debt issuance costs (5.9) (37.5)  
Dividends paid (39.2) (173.0) (212.6)
(Payments) proceeds to settle forward contracts (0.9)   33.3
Net transfer of cash, cash equivalents and restricted cash to LSC and Donnelley Financial (78.0) (85.9)  
Payments of withholding taxes on share-based compensation (2.2) (7.6) (8.3)
Other financing activities (1.2) 5.6 3.6
Net cash (used in) provided by financing activities (294.3) 19.9 (444.8)
Effect of exchange rate on cash, cash equivalents and restricted cash 17.3 (16.5) (39.1)
Net decrease in cash, cash equivalents and restricted cash (34.4) (70.0) (140.2)
Cash, cash equivalents and restricted cash at beginning of year 335.9 405.9 546.1
Cash, cash equivalents and restricted cash at end of period 301.5 335.9 405.9
Supplemental non-cash disclosure:      
Debt-for-equity exchange $ 132.9    
Assumption of warehousing equipment related to client contract   8.8  
Debt-for-debt exchange, including debt issuance costs of $5.5 million   $ 300.0  
Settlement of accounts receivable for acquisition of a business     8.6
Consolidated Graphics, Esselte and MultiCorpora      
Supplemental non-cash disclosure:      
Issuance of 2.7 million shares of RRD stock for acquisitions of businesses     $ 155.2