XML 43 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income before non-controlling interest $ 46.0 $ 25.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 36.6 40.1
Amortization of stock-based compensation 11.7 5.4
Amortization of deferred financing costs 4.5 4.6
Bad debt expense 3.0 3.9
Deferred income taxes (14.7) (17.0)
Dividends received from unconsolidated affiliates 1.9 0.0
Equity income in earnings of unconsolidated affiliates (6.4) (3.8)
Non-cash interest expense on convertible notes 2.6 2.5
Loss on sale of assets 0.8 0.0
Foreign currency adjustments and other 2.4 0.1
Loss on disposal, net 0.0 20.4
Changes in operating assets and liabilities (87.3) (9.1)
Net cash provided by operating activities 1.1 72.4
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from disposition of business and other 7.2 46.3
Purchases of property, plant and equipment (34.0) (16.9)
Other (0.1) (2.1)
Net cash (used in) provided by investing activities (26.9) 27.3
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from borrowings under long-term debt obligations 283.0 106.5
Repayments of borrowings under long-term debt obligations (311.5) (169.1)
Proceeds from exercise of stock options 10.5 3.5
Excess tax benefit from stock-based compensation 14.7 1.5
Treasury shares repurchased (1.2) (2.2)
Other (1.2) 0.2
Net cash used in financing activities (5.7) (59.6)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 4.4 0.4
(Decrease) increase in cash and cash equivalents (27.1) 40.5
CASH AND CASH EQUIVALENTS, end of period 62.5 81.0
CASH AND CASH EQUIVALENTS, end of period 35.4 121.5
Cash paid during the period for:    
Interest 33.1 38.2
Income taxes, net of refunds $ 58.2 $ 21.3