XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Combined Statements of Cash Flows - USD ($)
6 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net Income $ 178,400,000 $ 213,200,000
Adjustments to net income to derive net cash provided by operating activities:    
Depreciation and amortization 15,100,000 19,500,000
Amortization of debt issuance costs 100,000 0
Impairment of property, plant and equipment 0 10,000,000.0
Share-based compensation 8,500,000 6,700,000
Pension expense 3,600,000 4,900,000
Change in operating assets and liabilities:    
Trade receivables, net 133,300,000 600,000
Inventories (10,000,000.0) (9,100,000)
Prepaid expenses and other (2,400,000) (5,800,000)
Accounts payable (2,900,000) (13,800,000)
Accrued expenses (8,500,000) 13,600,000
Other current liabilities 5,800,000 1,100,000
Other, net 400,000 200,000
Net Cash Provided by Operating Activities 321,400,000 241,100,000
Investing Activities    
Capital expenditures (9,700,000) (16,600,000)
Acquisition of intangible assets (400,000) (1,600,000)
Net Cash Used for Investing Activities (10,100,000) (18,200,000)
Financing Activities    
Proceeds from the issuance of long-term debt 1,450,000,000 0
Net consideration paid to Parent in connection with the spin off (1,266,000,000) 0
Net transfers to Parent (189,300,000) (222,900,000)
Net Cash Used for Financing Activities (44,200,000) (222,900,000)
Effect of exchange rate changes on cash and cash equivalents (2,800,000) 0
Net Change in Cash and cash equivalents 264,300,000 0
Opening Cash and cash equivalents 0 0
Closing Cash and cash equivalents 264,300,000 0
Long-term debt    
Financing Activities    
Payments of long-term debt issuance costs/revolving credit facility fees (33,300,000) 0
Revolving credit facility | Revolving Credit Facility | Secured Debt    
Financing Activities    
Payments of long-term debt issuance costs/revolving credit facility fees $ (5,600,000) $ 0