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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 68.0 $ 9.0
Adjustments to reconcile net income to net cash used in operating activities:    
Share-based compensation expense 1.5 5.9
Depreciation and amortization 25.4 27.9
Change in fair value of contingent obligations, net 0.0 0.5
Amortization of deferred financing costs 2.3 6.9
Deferred income taxes 18.6 (12.2)
Noncash loss on assets held for sale 12.2 0.0
Change in fair value of warrant liability (9.5) 0.0
Loss on disposal of assets 0.3 0.0
Other (11.3) (3.1)
Changes in operating assets and liabilities:    
Accounts receivable (73.3) (50.0)
Inventories (2.2) (4.5)
Prepaid expenses and other assets 9.5 (6.0)
Accounts payable (5.4) (2.4)
Accrued expenses and other liabilities (7.2) 1.1
Long-term incentive plan accrual 0.8 1.2
Accrued compensation (32.2) (33.3)
Income taxes receivable and payable, net (8.4) 16.1
Contract liabilities (0.3) (19.7)
Net cash used in operating activities (11.2) (62.6)
Investing Activities    
Purchases of property, plant and equipment (3.6) (10.8)
Proceeds from sale of property, plant and equipment 38.1 0.0
Milestone payments from prior asset divestiture 30.0 0.0
Purchase of convertible note receivable (5.0) 0.0
Net cash provided by (used in) investing activities 59.5 (10.8)
Financing Activities    
Principal payments on term loan facility 0.0 (3.9)
Proceeds from revolving credit facility 0.0 50.0
Principal payments on revolving credit facility 0.0 (5.0)
Proceeds from share-based compensation activity 0.1 0.0
Taxes paid for share-based compensation activity (0.5) (0.4)
Net cash provided by (used in) financing activities: (0.4) 40.7
Effect of exchange rate changes on cash, cash equivalents and restricted cash (0.7) 0.0
Net change in cash, cash equivalents and restricted cash 47.2 (32.7)
Cash, cash equivalents and restricted cash, beginning of period 105.6 111.7
Cash, cash equivalents and restricted cash, end of period 152.8 79.0
Supplemental cash flow disclosures:    
Cash paid for interest 16.7 21.5
Cash paid for income taxes, net of refunds 14.5 12.4
Non-cash investing and financing activities:    
Purchases of property, plant and equipment unpaid at period end 1.5 3.3
Gain on extinguishment of debt 0.0 0.3
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 149.1 78.5
Restricted cash 3.7 0.5
Total $ 152.8 $ 79.0