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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net (loss) income $ (122.2) $ 37.6
Loss (gain) on disposal of assets 0.2 (0.3)
Depreciation 21.2 25.2
Amortization of debt issuance costs 2.2 2.3
Amortization of intangibles 33.2 32.7
Stock-based compensation 9.2 10.4
Non-cash charge for impairment of goodwill and intangible assets 165.2 0.0
Changes in operating assets and liabilities:    
Accounts receivable 88.5 30.9
Inventories (3.1) 35.5
Other assets (7.6) (5.4)
Accounts payable 1.3 (72.8)
Accrued expenses and other liabilities (63.5) (17.8)
Accrued income taxes (29.1) (7.6)
Net cash provided by operating activities 95.5 70.7
Investing activities    
Additions to property, plant and equipment (8.6) (9.7)
Proceeds from the disposition of assets 0.1 2.2
Net cash used by investing activities (8.5) (7.5)
Financing activities    
Proceeds from long-term borrowings 96.1 121.9
Repayments of long-term debt (117.2) (145.4)
Borrowings (repayments) of notes payable, net 7.5 (7.3)
Dividends paid (21.5) (21.4)
Repurchases of common stock (12.5)
Payments related to tax withholding for stock-based compensation (1.9) (1.7)
Net cash used by financing activities (49.5) (53.9)
Effect of foreign exchange rate changes on cash and cash equivalents (1.9) 2.2
Net increase in cash and cash equivalents 35.6 11.5
Cash and cash equivalents    
Beginning of the period 66.4 62.2
End of the period 102.0 73.7
Cash paid during the year for:    
Interest 43.4 48.7
Income taxes $ 32.4 $ 30.2