XML 17 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities    
Net income (loss) $ (96.6) $ (813.7)
Loss from discontinued operations, net of tax 12.9 32.0
Loss from continuing operations, net of tax (83.7) (781.7)
Adjustments to reconcile net loss to net cash (used) provided by operating activities:    
Depreciation 62.5 72.0
Amortization 22.4 25.0
Provision for doubtful accounts 114.6 105.9
Provision for obsolescence 26.6 35.2
Share-based compensation 23.1 28.9
Foreign exchange losses (0.3) 27.5
Deferred income taxes (16.3) 667.1
Charge for Venezuelan monetary assets and liabilities 0.0 (4.2)
Charge for Venezuelan non-monetary assets 0.0 101.7
Loss from deconsolidation of Venezuela (120.5) 0.0
Pre-tax gain on sale of business 0.0 (44.9)
Other 3.0 10.2
Changes in assets and liabilities:    
Accounts receivable (167.1) (117.4)
Inventories (109.5) (153.5)
Prepaid expenses and other (16.8) 1.2
Accounts payable and accrued liabilities (41.7) (34.5)
Income and other taxes (15.3) 18.8
Noncurrent assets and liabilities (26.3) (47.2)
Net cash (used) provided by operating activities (104.3) (89.9)
Cash Flows from Investing Activities    
Capital expenditures (68.2) (58.4)
Disposal of assets 3.3 5.7
Net proceeds from sale of business 0.0 208.3
Purchases of investments 0.0 (25.0)
Proceeds from sale of investments 0.0 9.0
Reduction of cash due to Venezuela deconsolidation (4.5) 0.0
Other investing activities 1.6 0.0
Net cash provided (used) by investing activities (67.8) 139.6
Cash Flows from Financing Activities    
Cash dividends 0.0 (80.7)
Debt, net (maturities of three months or less) (31.4) (4.6)
Proceeds from debt 508.7 7.6
Repayment of debt (311.9) (258.7)
Repurchase of common stock (5.3) (3.0)
Net proceeds from the sale of series C convertible preferred stock 426.3 0.0
Other financing activities (17.2) (5.9)
Net cash used by financing activities 569.2 (345.3)
Net cash used by operating activities of discontinued operations (67.6) (6.8)
Net cash used by investing activities of discontinued operations (94.6) (3.4)
Net cash used by financing activities of discontinued operations 0.0 (12.6)
Net cash used by discontinued operations (162.2) (22.8)
Effect of exchange rate changes on cash and cash equivalents (17.9) (54.7)
Net decrease in cash and cash equivalents 217.0 (373.1)
Cash and cash equivalents at beginning of year 684.7 [1] 960.5
Cash and cash equivalents at end of period $ 901.7 [2] $ 587.4
[1] Includes cash and cash equivalents of discontinued operations of $(2.2) and $24.1 at the beginning of the year in 2016 and 2015, respectively.
[2] Includes cash and cash equivalents of discontinued operations of $1.1 at September 30, 2015.