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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income $ 52.2 $ 61.8
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 23.7 24.6
Amortization 30.6 32.2
Lease expense 6.8 7.4
Stock-based compensation 14.9 12.7
Loss on extinguishment of debt 0.0 8.8
Deferred taxes (1.1) (2.3)
Other operating activities, net 4.2 6.0
Changes in assets and liabilities, excluding effects of acquisitions:    
Receivables (72.9) (8.3)
Inventories (30.8) (64.9)
Contract assets 8.2 (3.3)
Prepaid expenses and other assets 20.6 32.5
Accounts payable 45.6 6.9
Accrued and other current liabilities (24.7) (58.9)
Contract liabilities 2.9 6.9
Other long-term liabilities (12.6) (8.9)
Net cash provided by operating activities 67.6 53.2
Investing activities:    
Capital expenditures (20.0) (22.8)
Investment in securities (10.2) 0.0
Acquisitions, net of cash acquired 0.0 (2.4)
Other investing activities, net 1.8 0.9
Net cash used in investing activities (28.4) (24.3)
Financing activities:    
Proceeds from notes 0.0 740.7
Repayment of notes 0.0 (258.5)
Borrowings from revolving credit facility 0.0 500.0
Financing costs 0.0 (24.2)
Repurchases of common stock (150.0) (120.6)
Dividends paid (28.4) (28.3)
Proceeds from exercise of stock options 13.5 10.5
Withholding tax paid related to stock-based compensation (7.6) (6.4)
Other financing activities, net (0.3) (0.2)
Net cash used in financing activities (172.8) 813.0
Effect of foreign currency exchange rate changes on cash and cash equivalents (1.4) (5.4)
Change in cash and cash equivalents (135.0) 836.5
Less: change in cash and cash equivalents of discontinued operations 1.1 1.2
Cash and cash equivalents at beginning of period 897.1 342.5
Cash and cash equivalents at end of period $ 761.0 $ 1,177.8