XML 28 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES FROM CONTINUING OPERATIONS:      
Net income before non-controlling interest $ 385.7 $ 370.7 $ 457.8
Loss from discontinued operations, net of tax 0.0 0.0 0.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 165.1 135.3 127.1
Amortization of stock-based compensation 36.4 47.7 53.1
Amortization of deferred financing costs and discounts 4.3 3.9 3.9
Bad debt expense 22.5 8.2 6.7
Deferred income taxes (19.2) 8.3 (10.5)
Dividends received from unconsolidated affiliates 24.3 20.4 22.9
Equity income in earnings of unconsolidated affiliates (18.9) (23.0) (21.1)
Loss on extinguishment of debt 0.0 1.4 0.0
Foreign currency adjustments and other 1.7 (0.9) 0.3
Changes in operating assets and liabilities:      
Accounts receivable (7.3) (11.5) (14.8)
Inventories 26.8 75.8 (101.9)
Prepaid expenses and other assets (23.6) 50.1 (24.2)
Operating leases, net 2.3 5.3 4.4
Accounts payable 58.3 (46.9) (59.5)
Accrued expenses and other liabilities (21.1) (14.7) (67.3)
Income taxes receivable and payable 29.2 (59.8) 1.5
Net cash provided by operating activities from continuing operations 666.5 570.3 378.8
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:      
Purchases of property, plant and equipment (97.3) (185.4) (306.5)
Other 0.6 (2.4) (8.8)
 Net cash used in investing activities from continuing operations (96.7) (187.8) (315.3)
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:      
Proceeds from borrowings under long-term debt obligations 3,007.0 2,667.6 2,303.1
Repayments of borrowings under long-term debt obligations (1,760.6) (2,918.4) (1,828.6)
Proceeds from exercise of stock options 0.5 2.9 0.5
Treasury stock repurchased (43.8) (36.0) (667.4)
Dividends paid (92.7) (77.7) (70.5)
Payment of deferred financing costs (13.7) (6.5) 0.0
Repayments of finance lease obligations and other (19.3) (16.2) (16.2)
Net cash provided by (used in) financing activities from continuing operations 1,077.4 (384.3) (279.1)
Net cash provided by (used in) continuing operations 1,647.2 (1.8) (215.6)
Net operating cash flows used in discontinued operations 0.0 0.0 (0.3)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH (12.4) 7.3 (15.4)
Increase (decrease) in cash, cash equivalents and restricted cash 1,634.8 5.5 (231.3)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 74.9 69.4 300.7
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 1,709.7 74.9 69.4
Cash paid during the period for:      
Interest 157.7 144.6 105.8
Income taxes, net of refunds $ 134.0 $ 133.0 $ 138.0