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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net income $ 150.2 $ 3.5
Less: Loss from discontinued operations, net of tax (2.8) (2.6)
Net income from continuing operations 153.0 6.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Bridge loan facility fees 0.0 26.1
Depreciation and amortization 200.0 163.2
Employee share-based compensation expense 14.3 9.2
Financing costs amortization 14.2 12.0
Unrealized foreign currency transaction (gain) loss (5.1) 0.4
Unrealized (gain) loss on investments in equity securities (10.8) 11.8
Equity in loss (income) of unconsolidated affiliates 2.4 (2.4)
Loss on sale of business 7.8 0.0
Other non-cash operating activities 3.0 (4.9)
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (45.0) (61.9)
Inventories 24.4 2.6
Unbilled contract revenue (195.7) (133.4)
Prepaid expenses and other current assets (16.4) 34.0
Accounts payable and other current liabilities 109.6 86.2
Customer advances and billings in excess of contract revenue (13.3) 19.1
Long-term assets and liabilities (15.2) (62.0)
Net Cash Provided By Continuing Operating Activities 227.2 106.1
Net Cash Used In Discontinued Operating Activities (5.6) (69.2)
Net Cash Provided By Operating Activities 221.6 36.9
INVESTING ACTIVITIES    
Acquisition of businesses, net of cash acquired 0.0 (4,322.3)
Proceeds from sale of business (6.1) 291.9
Capital expenditures (100.3) (115.4)
Investments (13.1) (8.8)
Other investing activities 0.4 2.3
Net Cash Used In Continuing Investing Activities (119.1) (4,152.3)
Net Cash Used In Discontinued Investing Activities (2.5) (2.6)
Net Cash Used In Investing Activities (121.6) (4,154.9)
FINANCING ACTIVITIES    
Borrowings on credit facilities 2,286.7 1,334.3
Repayments on credit facilities (2,246.5) (1,234.3)
Borrowings on term loan 0.0 1,747.2
Repayments on term loan 0.0 (8.2)
Payments for debt issuance costs (10.1) (133.5)
Payment of contingent consideration 0.0 (4.4)
Proceeds from issuance of common stock, net 0.0 11.7
Proceeds from exercise of stock options 0.4 0.9
Common stock repurchases from share-based compensation plans (3.3) (3.0)
Dividend distribution to noncontrolling interests 0.0 (12.2)
Dividends paid on mandatory convertible preferred stock (20.4) (20.5)
Net Cash Provided By Financing Activities 6.8 1,678.0
Effect of exchange rate changes on cash and cash equivalents 4.6 (0.4)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents including cash classified within current assets held for sale 111.4 (2,440.4)
Less: net increase in cash classified within current assets held for sale 0.0 (5.0)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 111.4 (2,445.4)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period [1] 201.1 2,605.3
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS AT END OF PERIOD [1] $ 312.5 $ 159.9
[1] Includes restricted cash and restricted cash equivalents of $2.3 and $12.8 classified within other current assets as of September 30, 2024 and December 31, 2023, respectively, and $12.8 and $1,941.7 as of September 30, 2023 and December 31, 2022, respectively.