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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities        
Net loss $ (19.1) $ (37.0) $ (52.6) $ (58.1)
Loss from discontinued operations, net of tax (13.2) 0.0 (22.7) 0.0
Loss from continuing operations, net of tax (5.9) (37.0) (29.9) (58.1)
Adjustments to reconcile net loss to net cash used by operating activities:        
Depreciation 15.9 20.8 36.5 41.6
Amortization 6.2 6.7 12.8 13.8
Provision for doubtful accounts 28.8 43.1 58.7 86.2
Provision for obsolescence 9.5 3.6 16.2 13.3
Share-based compensation 5.7 3.7 5.2 7.5
Foreign exchange losses (gains) 11.9 8.9 (7.3) 13.5
Deferred income taxes (0.9) (2.0) 7.3 (0.2)
Impairment loss on assets 13.3 0.0 13.3 0.0
Gain on sale of business / assets (13.2) 0.0 (23.5) 0.0
Other 3.5 0.0 5.2 3.2
Changes in assets and liabilities:        
Accounts receivable (16.6) (45.6) (40.9) (50.0)
Inventories 13.2 (41.3) 18.0 (99.7)
Prepaid expenses and other (23.2) 1.6 15.2 1.7
Accounts payable and accrued liabilities (47.1) 29.7 (211.3) (76.6)
Income and other taxes 19.2 0.6 7.2 (0.3)
Noncurrent assets and liabilities (13.2) (3.2) (18.3) (2.6)
Net cash provided (used) by operating activities of continuing operations 7.1 (10.4) (135.6) (106.7)
Cash Flows from Investing Activities        
Capital expenditures (11.3) (20.2) (32.5) (48.0)
Disposal of assets 0.4 0.6 0.8 1.4
Net proceeds from sale of business / assets 30.1 0.0 76.5 0.0
Other investing activities 0.0 (3.3) 0.0 (3.3)
Net cash provided (used) by investing activities of continuing operations 19.2 (22.9) 44.8 (49.9)
Cash Flows from Financing Activities        
Debt, net (maturities of three months or less) (26.7) (14.0) 0.5 (10.4)
Repayment of debt (0.3) (238.1) (0.3) (238.6)
Repurchase of common stock (1.1) (0.5) (1.1) (3.2)
Other financing activities 0.0 (0.1) (9.2) (0.1)
Net cash used by financing activities of continuing operations (28.1) (252.7) (10.1) (252.3)
Net cash used by operating activities of discontinued operations (4.6) 0.0 (4.6) 0.0
Net cash used by discontinued operations (4.6) 0.0 (4.6) 0.0
Effect of exchange rate changes on cash and cash equivalents, and restricted cash 4.0 (42.6) (2.3) (28.7)
Net decrease in cash and cash equivalents, and restricted cash (2.4) (328.6) (107.8) (437.6)
Cash and cash equivalents, and restricted cash at beginning of year [1] 431.0 772.5 536.4 881.5
Cash and cash equivalents, and restricted cash at end of period [2] $ 428.6 $ 443.9 $ 428.6 $ 443.9
[1]
The balance at the beginning of the six month period ended June 30, 2019 includes cash and cash equivalents of $3.7 classified as Held for sale assets in our Consolidated Balance Sheets at the end of the year in 2018
[2] Includes restricted cash of $7.6 related to the sale of Avon Manufacturing (Guangzhou), Ltd. at June 30, 2019