XML 16 R5.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net income $ 26.1 $ 8.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19.5 23.9
Interest accretion of convertible notes discount 0.0 1.9
Employee share-based compensation expense 3.4 2.9
Financing costs amortization 1.2 1.0
Unrealized foreign currency transaction gain (4.6) 0.0
Unrealized (gain) loss on investments in equity securities (3.3) 4.8
Other non-cash operating activities 1.9 3.2
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable 13.6 7.5
Inventories (36.3) (16.1)
Unbilled contract revenues and other assets (6.8) 8.4
Accounts payable and other liabilities 4.1 (17.0)
Customer advances and billings in excess of contract revenue (10.5) (3.5)
Net Cash Provided By Operating Activities 8.3 25.5
INVESTING ACTIVITIES    
Acquisition of businesses, net of cash acquired (55.0) 0.0
Investments (40.0) 0.0
Capital expenditures (11.5) (10.3)
Government grants 0.2 0.1
Net Cash Used In Investing Activities (106.3) (10.2)
FINANCING ACTIVITIES    
Borrowings on revolving credit facilities 187.7 64.5
Repayments on revolving credit facilities (102.5) (84.7)
Repayments on term loan 0.0 (2.8)
Proceeds from exercise of stock options 5.6 2.0
Common stock repurchases from share-based compensation plans (3.0) (1.7)
Common stock repurchases 0.0 (19.3)
Net Cash Provided By (Used In) Financing Activities 87.8 (42.0)
Effect of exchange rate changes on cash and cash equivalents 0.0 (3.0)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents [1] (10.2) (29.7)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 126.1 120.0
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS AT END OF PERIOD [2] $ 115.9 $ 90.3
[1] Net decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents represents cash flows of consolidated operations for all periods presented. For cash flows of discontinued operations, refer to Note 2, “Discontinued Operations.”
[2] Includes restricted cash and restricted cash equivalents of $1.0 in other assets for each of the periods presented. For further information regarding restricted cash and restricted cash equivalents balances, refer to Note 9, “Debt and Credit Arrangements.”