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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating      
Net income (loss) $ (309.5) $ (6.6) $ 88.9
Less: Income from discontinued operations 198.2 62.3 87.2
Income (loss) from continuing operations (507.7) (68.9) 1.7
Non-cash items included in net income (loss):      
Depreciation and amortization 147.8 109.9 67.1
Amortization of deferred issuance costs 7.6 6.4 4.0
Goodwill Impairment 401.0 0.0 0.0
Other impairments 18.2 13.8 1.6
Deferred income tax 23.8 (28.9) (29.0)
Pension and other postretirement benefits (8.3) (6.5) (1.1)
Stock-based compensation 10.5 20.4 8.5
Gain on sale of assets 0.0 (2.9) (35.2)
(Gain) loss on foreign currency transactions 4.8 (7.5) (3.5)
Other non-cash items (12.7) 2.1 (7.1)
Cash received from settlement of interest swap agreements 16.4 23.6 0.0
Other operating (5.0) 0.0 0.0
Changes in operating working capital, net of assets acquired:      
Accounts receivable 2.0 157.1 2.7
Inventories 52.2 (62.9) (15.9)
Prepaid expenses (0.2) (0.2) 0.9
Accounts payable and other current liabilities (64.4) (15.3) (3.3)
Accrued income taxes (9.4) (15.6) 1.1
Net changes in operating working capital (19.8) 63.1 (14.5)
Continuing operations 76.6 124.6 (7.5)
Discontinued operations 30.0 77.6 65.5
Net cash provided by operations 106.6 202.2 58.0
Investing      
Capital spending (66.0) (45.6) (19.4)
Capitalized software costs (0.4) (2.6) (2.8)
Acquisitions, net of cash acquired 0.0 (462.5) (630.5)
Proceeds from sale of assets 0.0 7.5 35.2
Cash received from settlement of cross-currency swap contracts 0.0 35.8 0.0
Other investing 5.0 (1.9) (0.8)
Continuing operations (61.4) (469.3) (618.3)
Discontinued operations 608.6 (12.0) (18.1)
Net cash provided by (used in) investing 547.2 (481.3) (636.4)
Financing      
Cash dividends paid (55.3) (72.2) (55.3)
Proceeds from long-term debt 241.0 774.9 743.5
Payments on long-term debt (834.6) (340.6) (54.3)
Payments for debt issuance costs (1.5) (22.1) (14.6)
Payments on financing lease obligations (1.0) (0.6) (15.3)
Purchases of common stock (10.6) (6.9) (3.4)
Continuing operations (662.0) 332.5 600.6
Discontinued operations (0.9) (1.0) (0.7)
Net cash provided by (used in) financing (662.9) 331.5 599.9
Effect of exchange rate changes on cash and cash equivalents 4.9 (2.7) (1.5)
Increase (decrease) in cash and cash equivalents (4.2) 49.7 20.0
Cash and cash equivalents at beginning of period 124.4 74.7 54.7
Cash and cash equivalents at end of period 120.2 124.4 74.7
Cash and cash equivalents 120.2 101.1 71.2
Cash and cash equivalents included in current assets held for sale of discontinued operations 0.0 23.3 3.5
Cash and cash equivalents at end of period 120.2 124.4 74.7
Supplemental Cash Flow Disclosures      
Cash paid for interest, net 121.4 84.6 47.4
Cash paid for taxes, net 37.5 26.0 22.4
Capital spending in accounts payable and accrued liabilities 10.1 14.6 6.3
Merger non-cash consideration $ 0.0 $ 537.9 $ 0.0