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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net (loss) income $ (28.2) $ 178.1
Adjustments for items not affecting cash:    
Depreciation and amortization 36.2 24.2
Share-based payments expense 12.2 7.6
Deferred income tax (benefit) expense (2.9) 12.4
Unrealized foreign exchange loss (gain) 4.8 (0.2)
Gain on disposition of property, plant and equipment (1.2) (169.8)
Loss on redemption of 2016 Notes 3.3  
Amortization of debt issuance costs 0.9 0.8
Amortization of right-of-use assets 5.0 3.5
Change in fair value of derivatives   (1.3)
Gain on remeasurement of investment upon acquisition (1.4)  
Other, net 0.8 1.1
Net changes in operating assets and liabilities (86.8) 128.7
Net cash (used in) provided by operating activities (57.3) 185.1
Investing activities:    
Property, plant and equipment additions (23.5) (2.0)
Proceeds on disposition of property, plant and equipment 1.4 164.7
Intangible asset additions (16.9) (7.8)
Issuance of loans receivable (0.9) (1.1)
Repayment of loans receivable 0.7 1.2
Net cash (used in) provided by investing activities (2,823.0) 154.9
Financing activities:    
Issuance of Series A Senior Preferred Shares and common stock, net of issuance costs 496.9  
Dividends paid to common stockholders (150.4) (27.7)
Dividends paid to Series A Senior Preferred shareholders (4.9)  
Proceeds from exercise of options and share option plans 0.7 1.0
Payment of withholding taxes on issuance of shares (10.0) (1.5)
Net (decrease) increase in short-term debt (5.4) 15.4
Proceeds from long-term debt 3,175.0  
Repayment of long-term debt (501.1) (162.7)
Payment of debt issue costs (38.7) (2.3)
Repayment of finance lease obligations (3.6) (2.5)
Net cash provided by (used in) financing activities 2,958.5 (180.3)
Effect of changes in foreign currency rates on cash, cash equivalents, and restricted cash 2.9 7.8
Increase 81.1 167.6
Beginning of period 625.9 1,362.5
Cash and cash equivalents, and restricted cash, end of period 707.0 1,530.1
IAA    
Investing activities:    
Acquisitions, net of cash acquired (2,759.1)  
VeriTread    
Investing activities:    
Acquisitions, net of cash acquired $ (24.7)  
SmartEquip    
Investing activities:    
Acquisitions, net of cash acquired   $ (0.1)