XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.23.3

Shareholders' Deficit (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Equity [Abstract] |
Summary of Changes in Shareholders' Deficit | Changes in shareholders’ deficit for the three months ended September 30, 2023 and 2022 were as follows:
|  | Three Months Ended September 30, 2023 |
|  | Common Shares |  |  | Paid-in Capital in Excess of Par Value |  |  | Accumulated Other Comprehensive Loss |  |  | Accumulated Deficit |  |  | Total Shareholders’ Deficit |
|  | (in millions) |
Balance as of June 30, 2023 |  | $ | 0.1 |  |  | $ | 202.8 |  |  | $ | (238.0 | ) |  | $ | (1,115.3 | ) |  | $ | (1,150.4 | )
Issuance of 0.1 common shares from exercise of SARs, restricted stock units, employee stock purchase plan, and other |  |  | — |  |  |  | 0.8 |  |  |  |  |  |  |  |  |  | 0.8 |
Additional capital from share-based compensation |  |  |  |  |  | 13.7 |  |  |  |  |  |  |  |  |  | 13.7 |
Repurchases of — common shares |  |  | — |  |  |  | (0.3 | ) |  |  |  |  |  | — |  |  |  | (0.3 | )
Net income |  |  |  |  |  |  |  |  |  |  |  | 42.8 |  |  |  | 42.8 |
Foreign currency translation adjustment, net of income taxes of $(0.3) |  |  |  |  |  |  |  |  | (15.5 | ) |  |  |  |  |  | (15.5 | )
Unrealized gain on derivatives, net of income taxes of $— |  |  |  |  |  |  |  |  | 0.4 |  |  |  |  |  |  | 0.4 |
Other |  |  |  |  |  | 5.0 |  |  |  |  |  |  |  |  |  | 5.0 |
Balance as of September 30, 2023 |  | $ | 0.1 |  |  | $ | 222.0 |  |  | $ | (253.1 | ) |  | $ | (1,072.5 | ) |  | $ | (1,103.5 | )
|  | Three Months Ended September 30, 2022 |
|  | Common Shares |  |  | Treasury Stock |  |  | Paid-in Capital in Excess of Par Value |  |  | Accumulated Other Comprehensive Loss |  |  | Accumulated Deficit |  |  | Total Shareholders’ Deficit |
|  | (in millions) |
Balance as of June 30, 2022 |  | $ | 0.1 |  |  | $ | (328.9 | ) |  | $ | 185.8 |  |  | $ | (243.1 | ) |  | $ | (1,029.3 | ) |  | $ | (1,415.4 | )
Issuance of 0.1 common shares from exercise of SARs, restricted stock units, employee stock purchase plan, and other |  |  | — |  |  |  |  |  |  | 1.2 |  |  |  |  |  |  |  |  |  | 1.2 |
Additional capital from share-based compensation |  |  |  |  |  |  |  |  | 11.4 |  |  |  |  |  |  |  |  |  | 11.4 |
Repurchases of — common shares |  |  | — |  |  |  |  |  |  | (0.1 | ) |  |  |  |  |  | — |  |  |  | (0.1 | )
Retirement of treasury stock |  |  |  |  |  | 328.9 |  |  |  | (17.3 | ) |  |  |  |  |  | (311.6 | ) |  |  | — |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 82.2 |  |  |  | 82.2 |
Foreign currency translation adjustment, net of income taxes of $0.6 |  |  |  |  |  |  |  |  |  |  |  | (39.6 | ) |  |  |  |  |  | (39.6 | )
Unrealized loss on derivatives, net of income taxes of $— |  |  |  |  |  |  |  |  |  |  |  | (1.6 | ) |  |  |  |  |  | (1.6 | )
Balance as of September 30, 2022 |  | $ | 0.1 |  |  | $ | — |  |  | $ | 181.0 |  |  | $ | (284.3 | ) |  | $ | (1,258.7 | ) |  | $ | (1,361.9 | )
Changes in shareholders’ deficit for the nine months ended September 30, 2023 and 2022 were as follows:
|  | Nine Months Ended September 30, 2023 |
|  | Common Shares |  |  | Paid-in Capital in Excess of Par Value |  |  | Accumulated Other Comprehensive Loss |  |  | Accumulated Deficit |  |  | Total Shareholders’ Deficit |
|  | (in millions) |
Balance as of December 31, 2022 |  | $ | 0.1 |  |  | $ | 188.7 |  |  | $ | (250.2 | ) |  | $ | (1,204.5 | ) |  | $ | (1,265.9 | )
Issuance of 1.6 common shares from exercise of SARs, restricted stock units, employee stock purchase plan, and other |  |  | — |  |  |  | 2.3 |  |  |  |  |  |  |  |  |  | 2.3 |
Additional capital from share-based compensation |  |  |  |  |  | 35.7 |  |  |  |  |  |  |  |  |  | 35.7 |
Repurchases of 0.5 common shares |  |  | — |  |  |  | (9.7 | ) |  |  |  |  |  | — |  |  |  | (9.7 | )
Net income |  |  |  |  |  |  |  |  |  |  |  | 132.0 |  |  |  | 132.0 |
Foreign currency translation adjustment, net of income taxes of $(0.5) |  |  |  |  |  |  |  |  | (0.7 | ) |  |  |  |  |  | (0.7 | )
Unrealized loss on derivatives, net of income taxes of $(0.1) |  |  |  |  |  |  |  |  | (2.2 | ) |  |  |  |  |  | (2.2 | )
Other |  |  |  |  |  | 5.0 |  |  |  |  |  |  |  |  |  | 5.0 |
Balance as of September 30, 2023 |  | $ | 0.1 |  |  | $ | 222.0 |  |  | $ | (253.1 | ) |  | $ | (1,072.5 | ) |  | $ | (1,103.5 | )
|  | Nine Months Ended September 30, 2022 |
|  | Common Shares |  |  | Treasury Stock |  |  | Paid-in Capital in Excess of Par Value |  |  | Accumulated Other Comprehensive Loss |  |  | Accumulated Deficit |  |  | Total Shareholders’ Deficit |
|  | (in millions) |
Balance as of December 31, 2021 |  | $ | 0.1 |  |  | $ | (328.9 | ) |  | $ | 318.1 |  |  | $ | (211.8 | ) |  | $ | (1,169.0 | ) |  | $ | (1,391.5 | )
Issuance of 1.1 common shares from exercise of SARs, restricted stock units, employee stock purchase plan, and other |  |  | — |  |  |  |  |  |  | 3.4 |  |  |  |  |  |  |  |  |  | 3.4 |
Additional capital from share-based compensation |  |  |  |  |  |  |  |  | 37.5 |  |  |  |  |  |  |  |  |  | 37.5 |
Repurchases of 4.1 common shares |  |  | — |  |  |  |  |  |  | (24.0 | ) |  |  |  |  |  | (122.6 | ) |  |  | (146.6 | )
Retirement of treasury stock |  |  |  |  |  | 328.9 |  |  |  | (17.3 | ) |  |  |  |  |  | (311.6 | ) |  |  | — |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 266.9 |  |  |  | 266.9 |
Foreign currency translation adjustment, net of income taxes of $0.2 |  |  |  |  |  |  |  |  |  |  |  | (67.1 | ) |  |  |  |  |  | (67.1 | )
Unrealized loss on derivatives, net of income taxes of $— |  |  |  |  |  |  |  |  |  |  |  | (5.4 | ) |  |  |  |  |  | (5.4 | )
Cumulative effect of accounting change relating to adoption of ASU 2020-06 |  |  |  |  |  |  |  |  | (136.7 | ) |  |  |  |  |  | 77.6 |  |  |  | (59.1 | )
Balance as of September 30, 2022 |  | $ | 0.1 |  |  | $ | — |  |  | $ | 181.0 |  |  | $ | (284.3 | ) |  | $ | (1,258.7 | ) |  | $ | (1,361.9 | )
Summary of Changes in Accumulated Other Comprehensive Loss | The following table summarizes changes in accumulated other comprehensive loss by component during the three months ended September 30, 2023 and 2022:
|  | Changes in Accumulated Other Comprehensive Loss by Component |
|  | Three Months Ended |
|  | September 30, 2023 |  |  | September 30, 2022 |
|  | Foreign Currency Translation Adjustments |  |  | Unrealized (Loss) Gain on Derivatives |  |  | Total |  |  | Foreign Currency Translation Adjustments |  |  | Unrealized Loss on Derivatives |  |  | Total |
|  | (in millions) |
Beginning balance |  | $ | (233.4 | ) |  | $ | (4.6 | ) |  | $ | (238.0 | ) |  | $ | (239.1 | ) |  | $ | (4.0 | ) |  | $ | (243.1 | )
Other comprehensive loss before reclassifications, net of tax |  |  | (15.5 | ) |  |  | (1.0 | ) |  |  | (16.5 | ) |  |  | (39.6 | ) |  |  | (2.6 | ) |  |  | (42.2 | )
Amounts reclassified from accumulated other comprehensive loss to income, net of tax(1) |  |  | — |  |  |  | 1.4 |  |  |  | 1.4 |  |  |  | — |  |  |  | 1.0 |  |  |  | 1.0 |
Total other comprehensive (loss) income, net of reclassifications |  |  | (15.5 | ) |  |  | 0.4 |  |  |  | (15.1 | ) |  |  | (39.6 | ) |  |  | (1.6 | ) |  |  | (41.2 | )
Ending balance |  | $ | (248.9 | ) |  | $ | (4.2 | ) |  | $ | (253.1 | ) |  | $ | (278.7 | ) |  | $ | (5.6 | ) |  | $ | (284.3 | )
(1) See Note 9, Derivative Instruments and Hedging Activities, for information regarding the location within the condensed consolidated statements of income of gains (losses) reclassified from accumulated other comprehensive loss to income during the three months ended September 30, 2023 and 2022. The following table summarizes changes in accumulated other comprehensive loss by component duri ng the nine months ended September 30, 2023 and 2022:
|  | Changes in Accumulated Other Comprehensive Loss by Component |
|  | Nine Months Ended |
|  | September 30, 2023 |  |  | September 30, 2022 |
|  | Foreign Currency Translation Adjustments |  |  | Unrealized Loss on Derivatives |  |  | Total |  |  | Foreign Currency Translation Adjustments |  |  | Unrealized Loss on Derivatives |  |  | Total |
|  | (in millions) |
Beginning balance |  | $ | (248.2 | ) |  | $ | (2.0 | ) |  | $ | (250.2 | ) |  | $ | (211.6 | ) |  | $ | (0.2 | ) |  | $ | (211.8 | )
Other comprehensive loss before reclassifications, net of tax |  |  | (0.7 | ) |  |  | (8.0 | ) |  |  | (8.7 | ) |  |  | (67.1 | ) |  |  | (6.5 | ) |  |  | (73.6 | )
Amounts reclassified from accumulated other comprehensive loss to income, net of tax(1) |  |  | — |  |  |  | 5.8 |  |  |  | 5.8 |  |  |  | — |  |  |  | 1.1 |  |  |  | 1.1 |
Total other comprehensive loss, net of reclassifications |  |  | (0.7 | ) |  |  | (2.2 | ) |  |  | (2.9 | ) |  |  | (67.1 | ) |  |  | (5.4 | ) |  |  | (72.5 | )
Ending balance |  | $ | (248.9 | ) |  | $ | (4.2 | ) |  | $ | (253.1 | ) |  | $ | (278.7 | ) |  | $ | (5.6 | ) |  | $ | (284.3 | )
(1) See Note 9, Derivative Instruments and Hedging Activities, for information regarding the location within the condensed consolidated statements of income of gains (losses) reclassified from accumulated other comprehensive loss to income during the nine months ended September 30, 2023 and 2022.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration