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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income (loss) $ (159.3) $ (711.0)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Share-based compensation expense 13.7 19.1
Depreciation and amortization 82.8 95.5
Change in fair value of contingent obligations, net 0.6 (0.4)
Amortization of deferred financing costs 5.2 15.6
Deferred income taxes (5.1) (3.7)
Noncash gain on sale of business (32.2) (74.2)
Change in fair value of warrant and forward liabilities (1.1) 0.0
Goodwill impairment 0.0 218.2
Impairment of long-lived assets 27.2 306.7
Loss on disposal of assets 28.9 13.9
Other 3.9 (5.0)
Changes in operating assets and liabilities:    
Accounts receivable 52.7 (58.5)
Inventories (35.5) (25.0)
Prepaid expenses and other assets 146.3 (18.3)
Accounts payable (22.8) 17.7
Accrued expenses and other liabilities 32.9 (30.2)
Long-term incentive plan accrual 2.5 3.7
Accrued compensation (9.9) (0.8)
Income taxes receivable and payable, net 26.6 (3.5)
Contract liabilities (18.8) 1.8
Net cash provided by (used in) operating activities 138.6 (238.4)
Investing Activities    
Purchases of property, plant and equipment (21.2) (40.2)
Proceeds from sale of property, plant and equipment 7.6 0.0
Milestone payment from prior asset acquisition 0.0 (6.3)
Proceeds from sale of business 110.2 270.2
Net cash provided by investing activities 96.6 223.7
Financing Activities    
Proceeds from the issuance of debt, net of lender fees 219.0 0.0
Proceeds allocated to warrants issued in conjunction with debt 13.4 0.0
Proceeds allocated to common stock issued in conjunction with debt 9.3 0.0
Principal payments on term loan facility (198.2) (160.7)
Proceeds from revolving credit facility 65.0 0.0
Principal payments on revolving credit facility (284.2) (386.8)
Debt issuance costs (14.6) 0.0
Proceeds from share-based compensation activity 0.7 1.3
Taxes paid for share-based compensation activity (0.9) (2.4)
Proceeds from at-the-market sale of stock, net of commissions and expenses 0.0 8.2
Net cash used in financing activities: (190.5) (540.4)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.0 0.3
Net change in cash, cash equivalents and restricted cash 44.7 (554.8)
Cash, cash equivalents and restricted cash, beginning of period 111.7 642.6
Cash, cash equivalents and restricted cash, end of period 156.4 87.8
Supplemental cash flow disclosures:    
Cash paid for interest 55.8 56.5
Cash paid for income taxes 35.5 38.3
Non-cash investing and financing activities:    
Purchases of property, plant and equipment unpaid at period end 1.6 9.2
Gain on extinguishments of debt 0.6 0.0
Issuance of common stock in conjunction with debt 7.7 0.0
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 149.9 87.8
Restricted cash 6.5 0.0
Total $ 156.4 $ 87.8