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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net (loss) income $ (1.3) $ (21.8) $ 20.0
Loss from discontinued operations, net of tax (36.6) 0.0 0.0
Income (loss) from continuing operations, net of tax 35.3 (21.8) 20.0
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities:      
Depreciation 68.1 81.1 84.3
Amortization 24.8 26.6 29.7
Provision for doubtful accounts 115.4 162.4 221.9
Provision for obsolescence 37.1 113.5 36.7
Share-based compensation 15.6 13.8 24.2
Foreign exchange (gains) losses (14.1) 14.9 18.1
Deferred income taxes 37.5 (49.0) (30.2)
Impairment loss on assets 17.7 0.0 0.0
Gain on sale of business / assets (50.1) 0.0 0.0
Brazil IPI Tax Release (118.3) (194.7) 0.0
Other 12.0 18.5 39.6
Changes in assets and liabilities:      
Accounts receivable (55.2) (102.8) (214.6)
Inventories 56.0 (99.6) (19.2)
Prepaid expenses and other 25.7 (49.3) 14.8
Accounts payable and accrued liabilities (145.4) 73.1 12.3
Income and other taxes 28.8 63.2 4.1
Noncurrent assets and liabilities 3.4 42.8 29.5
Net cash provided by operating activities of continuing operations 94.3 92.7 271.2
Cash Flows from Investing Activities      
Capital expenditures (58.5) (94.9) (97.3)
Disposal of assets 7.8 4.8 5.9
Proceeds from Divestiture of Businesses 99.9 0.0 0.0
Distribution from New Avon LLC 0.0 0.0 22.0
Other investing activities 1.0 (3.3) (0.2)
Net cash provided (used) by investing activities of continuing operations 50.2 (93.4) (69.6)
Cash Flows from Financing Activities      
Debt, net (maturities of three months or less) (9.2) (10.7) 10.3
Proceeds from debt 400.0 0.0 0.0
Repayment of debt (388.2) (289.1) (2.9)
Repurchase of common stock (9.6) (3.2) (7.2)
Net proceeds from exercise of stock options 15.6 0.0 0.0
Costs associated with debt issue / repayment (26.8) 0.0 0.0
Proceeds from monetization of COFINS tax credits 19.4 0.0 0.0
Other financing activities (0.1) (3.9) (0.2)
Net cash provided (used) by financing activities of continuing operations 1.1 (306.9) 0.0
Cash Flows from Discontinued Operations      
Net cash used by operating activities of discontinued operations (20.6) 0.0 (8.6)
Net cash used by discontinued operations (20.6) 0.0 (8.6)
Effect of exchange rate changes on cash and cash equivalents (0.3) (37.5) 34.1
Net increase (decrease) in cash and cash equivalents 124.7 (345.1) 227.1
Cash and cash equivalents and restricted cash at beginning of period [1] 536.4 [2] 881.5 [2] 654.4
Cash and cash equivalents and restricted cash at end of year [2] 661.1 536.4 [1] 881.5 [1]
Cash paid for:      
Interest 122.0 139.0 141.7
Income taxes, net of refunds received $ 55.9 $ 87.4 $ 132.2
[1] The balance at the beginning of the twelve month period ended December 31, 2019 includes cash and cash equivalents of $3.7 classified as Assets held for sale in the Company's Consolidated Balance Sheets at the end of the year in 2018.
[2] The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheet that sum to the total of the same such amounts shown in the Consolidated Statement of Cash Flows for the twelve month period ended December 31, 2019 and 2018.
December 31, 2019December 31, 2018
Cash and cash equivalents$650.6  $532.7  
Restricted cash2.9  —  
Long-term restricted cash(1)
7.6  —  
Held for sale cash and cash equivalents—  3.7  
Cash and cash equivalents, and restricted cash at end of period per the statement of cash flows$661.1  $536.4  

(1) Long-term restricted cash is presented in other assets in our Consolidated Balance Sheets.