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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Consolidated net (loss) income $ (37.5) $ 99.9
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 162.2 130.9
Deferred income taxes (65.2) (44.2)
Impairment of goodwill, intangible assets, other long-lived assets, and certain minority investments 147.5 27.5
Other non-cash expenses, net (33.7) 16.4
Income taxes payable, net (130.5) (17.4)
Accounts payable and accrued expenses (92.9) 26.5
Other changes in operating assets and liabilities, net (45.6) (178.3)
Net cash (used in) provided by operating activities (95.7) 61.3
Cash flows from investing activities:    
Purchases of property, plant and equipment (68.2) (78.6)
Cash paid for acquisitions, net of cash acquired (69.7) (1,576.7)
Other investing activities, net (3.1) (41.4)
Net cash used in investing activities (141.0) (1,696.7)
Cash flows from financing activities:    
Repayments of revolving line of credit (793.8) (988.6)
Proceeds from revolving line of credit 765.5 1,073.4
Repayment of long-term debt [1] (321.3) (127.8)
Proceeds from long-term debt 2.9 972.5
Proceeds from issuance of Series A Mandatory Convertible Preferred Stock, net of issuance costs 669.5 0.0
Proceeds from issuance of common stock, net 4.1 405.8
Payment of dividends to common shareholders (15.3) (22.6)
Repurchase of common stock (10.0) 0.0
Other financing activities, net 1.1 (7.9)
Net cash provided by financing activities 302.7 1,304.8
Effect of exchange rate changes on cash, cash equivalents and restricted cash 44.6 (9.3)
Net increase (decrease) in cash, cash equivalents and restricted cash 110.6 (339.9)
Cash, cash equivalents and restricted cash at beginning of period 186.7 491.6
Cash, cash equivalents and restricted cash at end of period 297.3 151.7
Supplemental disclosure of cash flow information:    
Cash paid for interest 50.2 31.6
Cash paid for taxes 186.2 102.2
Restricted cash period beginning balance 3.3 3.3
Restricted cash period ending balance $ 4.2 $ 3.6
[1] During the quarter ended September 30, 2025, the Company repaid in full the outstanding balance in its 2019 term loan of $255.8 million and the outstanding balance in its 2024 Revolving Credit Agreement of $300 million, as well as repaid $37.6 million of the outstanding balance of the 2024 term loan due in 2027 using proceeds from the Series A Mandatory Convertible Preferred Stock. See Note 21, Shareholder's Equity for further information.