XML 70 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income before non-controlling interest $ 62.8 $ 50.6
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 57.7 52.5
Amortization of stock-based compensation 9.4 13.8
Amortization of deferred financing costs 10.2 5.0
Write-off of deferred financing costs 0 4.7
Bad debt expense 4.8 0.1
Deferred income taxes (23.9) (56.4)
Equity income in earnings of unconsolidated affiliates (5.6) (2.3)
Non-cash interest expense on convertible notes 3.8 2.4
Loss on sale of assets 1.4 0.6
Foreign currency adjustments and other 0.1 0
Loss on disposal of business 23.2 0
Changes in operating assets and liabilities, net of effect of business acquisitions 37.0 33.8
Net cash provided by operating activities 180.9 104.8
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of businesses, net of cash acquired (8.5) (1,172.9)
Proceeds from disposition of business 43.5 0
Purchases of property, plant and equipment (30.3) (28.4)
Other 2.0 0.9
Net cash provided by (used in) investing activities 6.7 (1,200.4)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from 2012 Credit Agreement 239.5 2,917.6
Repayments of 2012 Credit Agreement (432.7) (1,559.1)
Proceeds from issuance of Senior Notes 0 375.0
Proceeds from 2011 Credit Facility 0 46.5
Repayments of 2011 Credit Facility 0 (696.5)
Proceeds from exercise of stock options 3.9 6.0
Excess tax benefit from stock based compensation 1.6 3.7
Treasury shares repurchased (2.2) 0
Payments of deferred financing costs 0 (52.0)
Other 0.4 (0.7)
Net cash (used in) provided by financing activities (189.5) 1,040.5
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 2.7 2.4
Increase (decrease) in cash and cash equivalents 0.8 (52.7)
CASH AND CASH EQUIVALENTS, beginning of period 81.0 179.3
CASH AND CASH EQUIVALENTS, end of period 81.8 126.6
Cash paid during the period for:    
Interest 49.9 65.9
Income taxes, net of refunds $ 31.1 $ 33.1