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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities        
Net income $ 106.6 $ 113.8 $ 54.0 $ 55.7
Loss from discontinued operations, net of tax (6.3) 0.0 (29.0) 0.0
Income from continuing operations, net of tax 112.9 113.8 83.0 55.7
Adjustments to reconcile net income from continuing operations to net cash provided (used) by operating activities:        
Depreciation 18.1 19.5 54.6 61.1
Amortization 5.9 6.5 18.7 20.3
Provision for doubtful accounts 28.2 40.7 86.9 126.9
Provision for obsolescence 6.0 9.2 22.2 22.5
Share-based compensation 3.7 2.0 8.9 9.5
Foreign exchange losses (gains) 0.6 (9.5) (6.7) 4.0
Deferred income taxes 14.4 (28.3) 21.7 (28.5)
Impairment loss on assets 2.1 0.0 15.4 0.0
Gain on sale of business / assets (26.8) 0.0 (50.3) 0.0
Certain Brazil indirect taxes (118.3) (194.7) (118.3) (194.7)
Other 11.5 11.0 16.7 14.2
Changes in assets and liabilities:        
Accounts receivable (15.2) (43.4) (56.1) (93.4)
Inventories (7.9) (32.1) 10.1 (131.8)
Prepaid expenses and other 18.9 (39.9) 34.1 (38.2)
Accounts payable and accrued liabilities (21.5) 45.9 (232.8) (30.7)
Income and other taxes (1.7) 74.4 5.5 74.1
Noncurrent assets and liabilities (0.6) 63.3 (18.9) 60.7
Net cash provided (used) by operating activities of continuing operations 30.3 38.4 (105.3) (68.3)
Cash Flows from Investing Activities        
Capital expenditures (10.3) (23.0) (42.8) (71.0)
Disposal of assets 1.0 0.9 1.8 2.3
Net proceeds from sale of business / assets 23.4 0.0 99.9 0.0
Other investing activities 1.0 0.0 1.0 (3.3)
Net cash provided (used) by investing activities of continuing operations 15.1 (22.1) 59.9 (72.0)
Cash Flows from Financing Activities        
Debt, net (maturities of three months or less) (7.4) 3.6 (6.9) (6.8)
Proceeds from debt 400.0 0.0 400.0 0.0
Repayment of debt (275.5) (0.3) (275.8) (238.9)
Repurchase of common stock 0.1 0.1 (1.0) (3.1)
Costs associated with debt issue / repayment (16.4) 0.0 (25.4) 0.0
Proceeds from monetization of COFINS tax credits 19.4 0.0 19.4 0.0
Other financing activities 0.7 (6.2) 0.5 (6.3)
Net cash provided (used) by financing activities of continuing operations 120.9 (2.8) 110.8 (255.1)
Net cash used by operating activities of discontinued operations (10.2) 0.0 (14.8) 0.0
Net cash used by discontinued operations (10.2) 0.0 (14.8) 0.0
Effect of exchange rate changes on cash and cash equivalents, and restricted cash (12.9) (4.8) (15.2) (33.5)
Net increase in cash and cash equivalents, and restricted cash 143.2 8.7 35.4 (428.9)
Cash and cash equivalents, and restricted cash at beginning of year [1] 428.6 443.9 536.4 881.5
Cash and cash equivalents, and restricted cash at end of period $ 571.8 $ 452.6 $ 571.8 $ 452.6
[1] The balance at the beginning of the nine month period ended September 30, 2019 includes cash and cash equivalents of $3.7 classified as Held for sale assets in our Consolidated Balance Sheets.