XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) including noncontrolling interest $ 88.5 $ 95.0
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities:    
Unrealized (gain) loss on derivatives (191.7) 88.0
Depreciation and amortization 77.8 80.1
Operating Lease, Expense 26.6 26.9
Provision for credit losses 5.2 6.1
Share-based payment award compensation costs 16.2 14.0
Deferred income tax expense (benefit) (4.4) (8.0)
Unrealized foreign currency (gains) losses, net (9.5) 15.7
Other 16.2 19.8
Changes in assets and liabilities, net of acquisitions and divestitures:    
Accounts receivable, net 389.1 (798.6)
Inventories 128.1 (207.1)
Prepaid expenses (8.2) (27.9)
Other current assets (38.3) (85.9)
Cash collateral with counterparties 188.8 76.7
Other non-current assets (73.7) (9.9)
Change in derivative assets and liabilities, net (6.1) 2.7
Accounts payable (216.9) 845.7
Accrued expenses and other current liabilities (114.6) 186.6
Other long-term liabilities (6.5) (90.6)
Net cash provided by (used in) operating activities 266.8 229.3
Cash flows from investing activities:    
Acquisition of business, net of cash acquired 0.0 (641.7)
Capital expenditures (67.9) (56.2)
Other investing activities, net (9.5) (1.3)
Net cash provided by (used in) investing activities (77.4) (699.2)
Cash flows from financing activities:    
Borrowings of debt 4,051.3 6,238.1
Repayments of debt (4,362.7) (6,038.7)
Issuance of Convertible Notes 350.0 0.0
Dividends paid on common stock (25.7) (22.4)
Repurchases of common stock (50.0) (48.7)
Purchase of convertible note hedges (70.5) 0.0
Sale of warrants 40.0 0.0
Payments of deferred consideration for acquisitions (62.9) (10.0)
Other financing activities, net (10.0) (3.3)
Net cash provided by (used in) financing activities (140.4) 115.0
Effect of exchange rate changes on cash and cash equivalents (11.8) (17.0)
Net increase (decrease) in cash and cash equivalents 37.2 (371.9)
Cash and cash equivalents, as of the beginning of the period 298.4 652.2
Cash and cash equivalents, as of the end of the period $ 335.6 $ 280.3