XML 37 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities      
Net income $ 98.5 $ 495.8 $ 872.0
Income from discontinued operations, net of tax 14.0 682.5 445.0
Net (loss) income from continuing operations 84.5 (186.7) 427.0
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Depreciation and amortization 148.5 180.8 125.3
Share based compensation 37.7 49.2 11.9
Unrealized loss on equity investments held 7.5 12.1 0.0
Realized loss on equity investments sold 9.3 0.0 0.0
Loss on assets held for sale 26.8 0.0 0.0
Write-off from impairment of goodwill 0.0 116.0 0.0
Write-off from impairment of intangible assets 24.2 35.4 20.3
Amortization of debt issuance costs and debt discount 6.4 9.9 19.6
Write-off of unamortized discount and debt issuance costs 1.1 38.3 0.0
Gain from extinguishment of Salus CLO debt (76.2) 0.0 0.0
Purchase accounting inventory adjustment 0.0 0.0 0.8
GPC safety recall inventory write-off 0.0 0.0 4.1
Dividends from subsidiaries classified as discontinued operations 0.0 0.0 3.1
Deferred tax expense (benefit) 46.8 (6.5) (556.5)
Net changes in operating assets and liabilities      
Receivables (143.3) (70.6) 21.4
Inventories (5.9) 26.7 (9.2)
Prepaid expenses and other current assets 18.0 (3.1) 22.3
Accounts payable and accrued liabilities 125.0 (161.3) 65.7
Other (20.3) 43.3 (38.7)
Net cash provided by operating activities from continuing operations 290.1 83.5 117.1
Net cash provided (used) by operating activities from discontinued operations 0.2 (82.4) 226.2
Net cash provided by operating activities 290.3 1.1 343.3
Cash flows from investing activities      
Purchases of property, plant and equipment (61.0) (58.4) (75.9)
Proceeds from disposal of property, plant and equipment 4.2 2.1 4.2
Proceeds from sale of assets held for sale 29.0 0.0 0.0
Proceeds from sale of discontinued operations, net of cash 3.6 2,859.5 1,546.8
Business acquisitions, net of cash acquired (16.9) 0.0 0.0
Proceeds from sale of equity investment 147.1 0.0 0.0
Other investing activity 2.3 (0.3) (0.5)
Net cash provided by investing activities from continuing operations 108.3 2,802.9 1,474.6
Net cash used by investing activities from discontinued operations 0.0 (5.3) (201.9)
Net cash provided by investing activities 108.3 2,797.6 1,272.7
Cash flows from financing activities      
Payment of debt, including premium on extinguishment (135.5) (2,649.9) (1,075.9)
Proceeds from issuance of debt 300.0 300.0 19.6
Payment of debt issuance costs (11.5) (4.1) (0.4)
Treasury stock purchases (239.8) (268.5) 0.0
Accelerated share repurchase (125.0) 0.0 0.0
Purchases of subsidiary stock, net 0.0 0.0 (288.0)
Dividends paid to shareholders (75.2) (85.5) (22.4)
Dividends paid by subsidiary to non-controlling interest (0.8) (1.1) (28.6)
Share based award tax withholding payments, net of proceeds upon vesting (12.6) (4.4) (24.3)
Payment of contingent consideration (197.0) (8.9) (6.4)
Other financing activities, net 0.3 0.0 20.7
Net cash used by financing activities from continuing operations (497.1) (2,722.4) (1,405.7)
Net cash (used) provided by financing activities from discontinued operations 0.0 (2.2) 110.4
Net cash used by financing activities (497.1) (2,724.6) (1,295.3)
Effect of exchange rate changes on cash and cash equivalents 5.1 (8.4) (7.0)
Net change in cash, cash equivalents and restricted cash (93.4) 65.7 313.7
Net change in cash, cash equivalents and restricted cash in discontinued operations 0.0 0.0 37.7
Net change in cash, cash equivalents and restricted cash in continuing operations (93.4) 65.7 276.0
Cash, cash equivalents, and restricted cash, beginning of period 627.1 561.4 285.4
Cash, cash equivalents, and restricted cash, end of period 533.7 627.1 561.4
Supplemental disclosure of cash flow information      
Cash paid for interest 127.1 208.1 314.1
Cash paid for taxes 42.1 53.9 53.8
Non cash investing activities      
Acquisition of property, plant and equipment through capital leases 5.3 3.5 4.5
Non cash financing activities      
Issuance of shares through stock compensation plan 39.6 30.8 63.7
SB/RH      
Cash flows from operating activities      
Net income 42.5 542.6 182.9
Income from discontinued operations, net of tax 14.0 682.5 (24.0)
Net (loss) income from continuing operations 28.5 (139.9) 206.9
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Depreciation and amortization 148.5 180.8 124.6
Share based compensation 36.4 47.6 8.8
Unrealized loss on equity investments held 7.5 12.1 0.0
Realized loss on equity investments sold 9.3 0.0 0.0
Loss on assets held for sale 26.8 0.0 0.0
Write-off from impairment of goodwill 0.0 116.0 0.0
Write-off from impairment of intangible assets 24.2 35.4 20.3
Amortization of debt issuance costs and debt discount 5.5 6.4 8.9
Write-off of unamortized discount and debt issuance costs 1.1 14.4 0.0
Purchase accounting inventory adjustment 0.0 0.0 0.8
GPC safety recall inventory write-off 0.0 0.0 4.1
Deferred tax expense (benefit) 34.0 11.3 (170.9)
Net changes in operating assets and liabilities      
Receivables (171.1) (92.9) (29.7)
Inventories (5.9) 26.7 (9.2)
Prepaid expenses and other current assets 18.0 (3.5) 22.3
Accounts payable and accrued liabilities (70.3) (156.6) 69.5
Other (12.5) 39.4 (32.7)
Net cash provided by operating activities from continuing operations 80.0 97.2 223.7
Net cash provided (used) by operating activities from discontinued operations 0.2 (82.4) 128.8
Net cash provided by operating activities 80.2 14.8 352.5
Cash flows from investing activities      
Purchases of property, plant and equipment (61.0) (58.4) (75.9)
Proceeds from disposal of property, plant and equipment 4.2 2.1 4.2
Proceeds from sale of assets held for sale 29.0 0.0 0.0
Proceeds from sale of discontinued operations, net of cash 3.6 2,859.5 0.0
Business acquisitions, net of cash acquired (16.9) 0.0 0.0
Proceeds from sale of equity investment 147.1 0.0 0.0
Other investing activity 2.3 (0.3)  
Net cash provided by investing activities from continuing operations 108.3 2,802.9 (72.2)
Net cash used by investing activities from discontinued operations 0.0 (5.3) (27.0)
Net cash provided by investing activities 108.3 2,797.6 (99.2)
Cash flows from financing activities      
Payment of debt, including premium on extinguishment (135.5) (2,262.7) (69.3)
Proceeds from issuance of debt 300.0 300.0 539.6
Payment of debt issuance costs (11.5)   (0.4)
Payment of cash dividends to parent (241.0) (717.4) (374.2)
Dividends paid by subsidiary to non-controlling interest (0.8) (1.1) 0.0
Payment of contingent consideration (197.0) (8.9) (6.4)
Net cash used by financing activities from continuing operations (285.8) (2,694.2) 89.3
Net cash (used) provided by financing activities from discontinued operations 0.0 (2.2) (4.8)
Net cash used by financing activities (285.8) (2,696.4) 84.5
Effect of exchange rate changes on cash and cash equivalents 5.1 (8.4) (7.0)
Net change in cash, cash equivalents and restricted cash (92.2) 107.6 330.8
Cash, cash equivalents, and restricted cash, beginning of period 621.9 514.3 183.5
Cash, cash equivalents, and restricted cash, end of period 529.7 621.9 514.3
Supplemental disclosure of cash flow information      
Cash paid for interest 127.1 179.9 208.4
Cash paid for taxes 42.1 53.9 53.8
Non cash investing activities      
Acquisition of property, plant and equipment through capital leases $ 5.3 $ 3.5 $ 4.5