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v3.22.1

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2022 | Mar. 31, 2021
Cash flows from operating activities: |  |
Net income (loss) | $ 8.5 | $ 31.7
Adjustments to reconcile net income (loss) to net cash used for operating activities: |  |
Depreciation | 17.9 | 16.9
Amortization | 61.3 | 35.3
Deferred income taxes | (4.6) | (7.5)
Amortization of debt discount and issuance costs | 2.3 | 1.8
Loss on extinguishment of debt | 0.0 | 0.4
Change in fair value of warrant liabilities | (94.9) | 13.6
Changes in operating working capital | (116.1) | (44.6)
Stock based compensation | 6.6 | 5.6
Payment of contingent consideration | (8.7) | 0.0
Changes in tax receivable agreement | 0.0 | 1.8
Other | (4.5) | 5.7
Net cash provided by (used for) operating activities | (132.2) | 60.7
Cash flows from investing activities: |  |
Capital expenditures | (15.1) | (16.8)
Investments in capitalized software | (3.1) | (1.1)
Net cash used for investing activities | (18.2) | (17.9)
Cash flows from financing activities: |  |
Borrowings from ABL revolving credit facility and short-term borrowings | 75.8 | 0.0
Repayments of ABL revolving credit facility and short-term borrowings | (60.0) | 0.0
Proceeds from the exercise of warrants | 0.0 | 107.5
Payment of contingent consideration | (12.8) | 0.0
Exercise of employee stock options | 1.0 | 0.9
Net cash provided by (used for) financing activities | (1.5) | 102.9
Effect of exchange rate changes on cash and cash equivalents | 1.3 | (3.1)
Increase (decrease) in cash, cash equivalents and restricted cash | (150.6) | 142.6
Beginning cash, cash equivalents and restricted cash | 447.1 | 542.6
Ending cash, cash equivalents and restricted cash | 296.5 | 685.2
Changes in operating working capital |  |
Accounts receivable | (4.8) | 47.1
Inventories | (160.4) | (68.4)
Other current assets | (14.5) | (5.3)
Accounts payable | 33.0 | 20.7
Accrued expenses and other liabilities | 30.5 | (41.5)
Income taxes | 0.1 | 2.8
Changes in operating working capital | (116.1) | (44.6)
Term Loan due 2027 at 2.99% and 2.84% at March 31, 2022 and December 31, 2021, respectively. |  |
Cash flows from financing activities: |  |
Repayment of long-term debt | $ (5.5) | $ (5.5)

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