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Condensed Consolidated Statements of Cash Flows (Unaudited)
€ in Millions, $ in Millions
 9 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
OPERATING ACTIVITIES    
Net income $ 34.3 $ 42.1
Less: Income from discontinued operations 0.0 4.7
Income from continuing operations 34.3 37.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 56.1 36.9
Interest accretion of convertible notes discount 5.7 7.3
Employee share-based compensation expense 6.4 3.5
Other operating activities 3.3 1.3
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable 1.6 23.5
Inventories (6.2) (28.7)
Unbilled contract revenues and other assets (11.8) 10.2
Accounts payable and other liabilities (19.7) (25.7)
Customer advances and billings in excess of contract revenue (14.4) (2.1)
Net Cash Provided By Operating Activities 55.3 63.6
INVESTING ACTIVITIES    
Acquisition of businesses, net of cash acquired (603.9) (12.5)
Capital expenditures (26.7) (26.4)
Investments [1] (3.3) 0.0
Government grants 0.5 0.8
Net Cash Used In Investing Activities (633.4) (38.1)
FINANCING ACTIVITIES    
Borrowings on revolving credit facilities 202.6 188.3
Repayments on revolving credit facilities (384.2) (123.3)
Repurchase of convertible notes 0.0 (57.1)
Borrowings on term loan 450.0 0.0
Repayments on term loan 0.0 (3.0)
Payments for debt issuance costs (13.6) (0.2)
Proceeds from exercise of stock options 9.4 5.4
Common stock repurchases (2.8) (2.4)
Payments for equity issuance costs (9.5) 0.0
Issuance of shares 295.8 0.0
Other (0.5) (0.4)
Net Cash Provided By Financing Activities 547.2 7.3
DISCONTINUED OPERATIONS    
Cash Provided By Operating Activities [2] 0.0 1.5
Cash Used In Investing Activities [3] 0.0 (0.8)
Cash Provided By Discontinued Operations 0.0 0.7
Effect of exchange rate changes on cash and cash equivalents (6.5) (6.7)
Net (decrease) increase in cash, cash equivalents, restricted cash, and restricted cash equivalents (37.4) 26.8
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period [4] 119.1 131.4
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS AT END OF PERIOD [4] $ 81.7 $ 158.2
[1]
Non-cash investing activities of $7.0 related to the conversion of a note receivable into an investment in equity securities during the nine months ended September 30, 2019 (See Note 6 “Investments”).
[2]
Includes depreciation expense of $1.3 and amortization expense of $1.8 for the nine months ended September 30, 2018.
[3]
Includes capital expenditures of $0.8 for the nine months ended September 30, 2018.
[4]
Includes restricted cash and restricted cash equivalents of $1.0 in other assets at September 30, 2019, September 30, 2018 and December 31, 2018, respectively. For further information regarding restricted cash and restricted cash equivalents balances, refer to Note 8, “Debt and Credit Arrangements.”