XML 24 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net loss $ (183.0) $ (3.7)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 6.8 9.9
Depreciation and amortization 34.6 30.9
Change in fair value of contingent obligations, net 1.5 0.5
Amortization of deferred financing costs 1.0 1.0
Deferred income taxes (8.4) 1.9
Other 0.3 0.6
Changes in operating assets and liabilities:    
Accounts receivable 1.8 93.7
Inventories (29.6) (50.1)
Prepaid expenses and other assets (4.5) (16.6)
Accounts payable 31.0 (14.7)
Accrued expenses and other liabilities (14.7) (51.0)
Accrued compensation (25.3) (32.2)
Income taxes receivable and payable, net 12.9 (5.5)
Contract liabilities (8.4) (2.0)
Net cash used in operating activities (184.0) (37.3)
Investing Activities    
Purchases of property, plant and equipment (15.1) (32.2)
Net cash used in investing activities (15.1) (32.2)
Financing Activities    
Purchases of treasury stock 0.0 (57.5)
Principal payments on term loan facility (8.4) (8.5)
Proceeds from stock-based compensation activity 0.0 0.5
Taxes paid for stock-based compensation activity (2.1) (5.0)
Net cash used in financing activities: (10.5) (70.5)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (0.2) (0.3)
Net change in cash, cash equivalents and restricted cash excluding cash classified within assets held for sale (209.8) (140.3)
Cash and cash equivalents included in assets held for sale (2.6) 0.0
Cash, cash equivalents and restricted cash, beginning of period 642.6 576.3
Cash, cash equivalents and restricted cash, end of period 430.2 436.0
Supplemental disclosure of cash flow information:    
Cash paid for interest 21.6 11.7
Cash paid for income taxes 16.7 4.8
Supplemental information on non-cash investing and financing activities:    
Purchases of property, plant and equipment unpaid at period end 7.8 13.3
Purchases of treasury stock unpaid at period end 0.0 1.3
Reconciliation of cash and cash equivalents and restricted cash at March 31, 2023 and December 31, 2022:    
Cash and cash equivalents 430.2  
Cash and cash equivalents included in assets held for sale 2.6 $ 0.0
Total $ 432.8