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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 412.8 $ 206.0 $ 319.8
Adjustments for items not affecting cash:      
Depreciation and amortization 444.4 352.2 97.2
Share-based payments expense 62.4 55.8 41.7
Deferred income tax benefit (69.2) (65.8) (0.3)
Unrealized foreign exchange (gain) loss (0.4) 6.6 (6.5)
Gain on disposition of property, plant and equipment (3.8) (4.9) (170.8)
Allowance for expected credit losses 5.1 5.9 0.0
Loss on redemption of notes 0.0 3.3 4.8
Gain on remeasurement of investment upon acquisition 0.0 (1.4) 0.0
Amortization of debt issuance costs 12.5 10.1 3.9
Amortization of right-of-use assets 154.4 109.9 19.4
Inventory write-downs 14.9 7.0 0.0
Other, net (1.3) 3.0 2.7
Net changes in operating assets and liabilities (99.8) (143.7) 151.2
Net cash provided by operating activities 932.0 544.0 463.1
Investing activities:      
Property, plant and equipment additions (167.4) (227.9) (32.0)
Proceeds on disposition of property, plant and equipment 2.6 32.6 165.5
Intangible asset additions (109.5) (118.3) (40.0)
Repayment of loans receivable 8.1 4.0 5.5
Issuance of loans receivable (24.1) (18.8) (22.0)
Other, net (2.7) (1.3) 0.3
Net cash (used in) provided by investing activities (301.6) (3,108.3) 77.2
Financing activities:      
Issuance of Series A Senior Preferred Shares and common stock, net of issuance costs 0.0 496.9 0.0
Dividends paid to common stockholders (206.0) (298.0) (115.2)
Dividends paid to Series A Senior Preferred shareholders (34.2) (30.4) 0.0
Proceeds from exercise of options and share option plans 75.5 43.7 5.9
Payment of withholding taxes on issuance of shares (14.8) (15.9) (4.0)
Net increase (decrease) in short-term debt 14.5 (15.5) 0.8
Proceeds from long-term debt 0.0 3,175.0 0.0
Repayment of long-term debt (454.4) (654.4) (1,131.0)
Payment of debt issue costs (0.3) (41.7) (4.3)
Repayment of finance lease and equipment financing obligations (26.5) (19.2) (10.3)
Proceeds of equipment financing obligations 2.6 37.6 0.0
Payment of contingent consideration (1.9) (1.9) 0.0
Net cash (used in) provided by financing activities (645.5) 2,676.2 (1,258.1)
Effect of changes in foreign currency rates on cash, cash equivalents, and restricted cash (24.0) 10.1 (18.8)
Net (decrease) increase in cash, cash equivalents, and restricted cash (39.1) 122.0 (736.6)
Cash, cash equivalents, and restricted cash, beginning of period 747.9 625.9 1,362.5
Cash, cash equivalents, and restricted cash, end of period 708.8 747.9 625.9
IAA      
Investing activities:      
Acquisitions, net of cash acquired 0.0 (2,753.9) 0.0
VeriTread      
Investing activities:      
Acquisitions, net of cash acquired 0.0 (24.7) 0.0
SmartEquip      
Investing activities:      
Acquisitions, net of cash acquired 0.0 0.0 (0.1)
Boom and Bucket Inc      
Investing activities:      
Acquisitions, net of cash acquired $ (8.6) $ 0.0 $ 0.0