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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 65.0 $ 172.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 199.3 175.7
Non-cash interest on financing and deemed landlord financed leases 23.7 17.1
Loss on disposal of long-lived assets and other 6.7 0.0
Amortization of debt discount and issuance costs 4.3 4.9
Impairment loss 6.3 0.0
Deferred taxes, net (23.3) (54.4)
Share-based compensation 27.9 38.4
Unrealized net (gains) losses on hedging instruments and foreign currency (4.2) 7.2
Loss on debt modification 4.7 10.5
Other 0.7 1.5
Change in assets and liabilities, net of impacts of business combinations:    
Accounts receivable, net (84.1) (144.8)
Inventories 125.3 205.8
Leasing receivables (8.3) (9.1)
Other assets 25.9 3.1
Accounts payable and accrued expenses (18.9) (175.2)
Deferred revenue (15.0) 3.1
Accrued employee compensation and benefits 7.5 (25.1)
Operating lease assets and liabilities, net 10.3 13.6
Income taxes receivable/payable, net (19.1) (18.4)
Other liabilities 4.0 1.7
Net cash provided by operating activities 338.7 227.7
Cash flows from investing activities:    
Capital expenditures (227.1) (388.7)
Asset acquisitions, net of cash acquired 0.0 (31.2)
Business combinations, net of cash acquired (23.3) 0.0
Proceeds from government grants 1.0 3.0
Investment in golf-related ventures (2.4) (2.5)
Acquisition of intangible assets (3.1) (0.8)
Proceeds from sale of property and equipment 0.3 0.3
Net cash used in investing activities (254.6) (419.9)
Cash flows from financing activities:    
Repayments of long-term debt and DLF obligations (74.5) (788.2)
Proceeds from borrowings on long-term debt 0.0 1,224.8
Repayments of credit facilities, net (13.0) (245.4)
Debt issuance costs (0.2) (1.8)
Repayments of financing leases (3.0) (2.2)
Proceeds from lease financing 87.6 184.3
Exercise of stock options 0.1 3.9
Acquisition of treasury stock (31.4) (44.0)
Net cash (used in) provided by financing activities (34.4) 331.4
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1.0) (7.3)
Net increase in cash, cash equivalents and restricted cash 48.7 131.9
Cash, cash equivalents and restricted cash at beginning of period 398.8 203.4
Cash, cash equivalents and restricted cash at end of period 447.5 335.3
Less: restricted cash [1] (5.6) (5.0)
Cash and cash equivalents at end of period 441.9 330.3
Supplemental disclosures:    
Cash paid for income taxes, net 17.9 20.0
Cash paid for interest 145.9 132.8
Non-cash investing and financing activities:    
Issuance of treasury stock and common stock for compensatory stock awards released from restriction 35.9 24.3
Accrued capital expenditures 38.8 38.3
Financed additions of capital expenditures $ 5.6 $ 43.3
[1]
(1) Includes $0.7 million and $0.7 million of short-term restricted cash and $4.9 million and $4.3 million of long-term restricted cash included in other assets for the periods ended September 30, 2024 and 2023, respectively.