XML 300 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net loss $ (190.6) $ (760.5) $ (211.6)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Share-based compensation expense 18.0 23.1 45.1
Depreciation and amortization 108.8 125.1 143.3
Change in fair value of contingent obligations, net 0.6 0.2 2.6
Amortization of deferred financing costs 7.4 21.3 4.1
Deferred income taxes (5.5) (8.9) (28.6)
Noncash gain on sale of business (32.2) (74.2) 0.0
Change in fair value of warrant and forward liabilities 1.1 0.0 0.0
Goodwill impairment 0.0 218.2 6.7
Impairment of long-lived assets 27.2 306.7 0.0
Loss on disposal of assets 28.7 21.1 3.6
Other 6.5 (8.1) 2.8
Changes in operating assets and liabilities:      
Accounts receivable (24.4) (21.6) 118.1
Inventories (24.5) 0.6 (57.1)
Prepaid expenses and other assets 169.9 11.7 (19.9)
Accounts payable (33.0) 10.6 (14.0)
Accrued expenses and other liabilities 12.3 (55.7) (66.7)
Long-term incentive plan accrual 3.6 4.8 0.0
Accrued compensation (18.2) (10.4) (0.8)
Income taxes receivable and payable, net 23.3 (16.2) 28.7
Contract liabilities (20.3) 5.9 9.6
Net cash provided by (used in) operating activities 58.7 (206.3) (34.1)
Investing Activities      
Purchases of property, plant and equipment (22.9) (51.6) (115.8)
Proceeds from sale of property, plant and equipment 7.9 0.0 0.0
Royalty settlement payment 0.0 0.0 (21.8)
Milestone payments from prior asset divestiture (acquisition) 30.0 (6.3) 0.0
Asset acquisitions 0.0 0.0 (243.7)
Proceeds from sale of business 110.2 270.2 0.0
Net cash provided by (used in) investing activities 125.2 212.3 (381.3)
Financing Activities      
Proceeds from the issuance of debt, net of lender fees 219.0 0.0 0.0
Proceeds allocated to warrants issued in conjunction with debt 13.4 0.0 0.0
Proceeds allocated to common stock issued in conjunction with debt 9.3 0.0 0.0
Purchases of treasury stock 0.0 0.0 (82.1)
Proceeds from revolving credit facility 65.0 20.0 598.0
Principal payments on revolving credit facility (284.2) (398.8) 0.0
Principal payments on term loan facility (198.2) (164.6) (33.8)
Debt issuance costs (14.6) 0.0 0.0
Proceeds from share-based compensation activity 1.5 1.8 5.0
Taxes paid for share-based compensation activity (1.2) (2.5) (5.9)
Proceeds from at-the-market sale of stock, net of commissions and expenses 0.0 8.4 0.0
Net cash provided by (used in) financing activities: (190.0) (535.7) 481.2
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.0 (1.2) 0.5
Net change in cash, cash equivalents and restricted cash (6.1) (530.9) 66.3
Cash, cash equivalents and restricted cash, beginning of period 111.7 642.6 576.3
Cash, cash equivalents and restricted cash, end of period 105.6 111.7 642.6
Supplemental cash flow disclosures:      
Cash paid for interest 64.0 68.3 33.0
Cash paid for income taxes, net of refunds 26.5 52.8 6.2
Non-cash investing and financing activities:      
Purchases of property, plant and equipment unpaid at period end 1.9 5.7 9.4
Gain on extinguishments of debt 0.6 2.5 0.0
Issuance of common stock in conjunction with debt 7.7 0.0 0.0
Reconciliation of cash and cash equivalents and restricted cash:      
Cash and cash equivalents 99.5 111.7 642.6
Restricted Cash 6.1 0.0 0.0
Total $ 105.6 $ 111.7 $ 642.6