XML 29 R9.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Statement Of Cash Flows [Abstract]    
Net (loss) income $ (19.2) $ 8.6
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Deferred income tax benefit 0.6 4.1
Depreciation and amortization 15.0 11.8
Amortization of debt issuance costs and debt discount 1.1 0.3
Provision for doubtful accounts 0.4 0.5
Net periodic pension and postretirement cost 2.2 0.8
Non-cash share-based compensation 22.8 12.5
Other 1.1 0.3
Changes in operating assets and liabilities excluding effects of acquisitions and divestitures:    
Trade and other receivables (8.1) (4.5)
Prepaid expenses and other current assets (7.1) (7.5)
Accounts payable and other accrued expenses (2.1) (2.0)
Deferred revenue 4.9 2.1
Employee compensation and benefits (24.7) (26.4)
Accrued interest 0.4  
Accrued taxes 8.6 0.9
Other assets and liabilities (0.4) (0.1)
Net cash (used in) provided by operating activities (4.5) 1.4
Cash Flows from Investing Activities    
Purchase of customer funds marketable securities (148.5) (24.6)
Proceeds from sale and maturity of customer funds marketable securities 97.4 49.5
Expenditures for property, plant, and equipment (3.4) (4.9)
Expenditures for software and technology (11.9) (10.7)
Acquisition costs, net of cash and restricted cash acquired (338.3)  
Net cash (used in) provided by investing activities (404.7) 9.3
Cash Flows from Financing Activities    
Decrease in customer funds obligations, net 513.2 480.8
Proceeds from issuance of common stock under share-based compensation plans 11.3 11.4
Repayment of long-term debt obligations (1.3) (2.7)
Proceeds from revolving credit facility 295.0  
Repayment of revolving credit facility (295.0)  
Proceeds from issuance of convertible senior notes, net of issuance costs 561.8  
Purchases of capped calls related to convertible senior notes (45.0)  
Net cash provided by financing activities 1,040.0 489.5
Effect of exchange rate changes on cash, restricted cash, and equivalents 3.4 (14.5)
Net increase in cash, restricted cash, and equivalents 634.2 485.7
Cash, restricted cash, and equivalents at beginning of period 2,228.5 1,658.6
Cash, restricted cash, and equivalents at end of period 2,862.7 2,144.3
Reconciliation of cash, restricted cash, and equivalents to the condensed consolidated balance sheets    
Cash and equivalents 339.6 255.3
Restricted cash 2.0  
Restricted cash and equivalents included in customer funds $ 2,521.1 $ 1,889.0
Restricted Cash and Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible List] Customer funds Customer funds
Cash, restricted cash, and equivalents at end of period $ 2,862.7 $ 2,144.3