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Condensed Consolidated Statements of Cash Flows - SB/RH - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2024
Apr. 02, 2023
Cash flows from operating activities      
Net income (loss) $ 60.9 $ 90.1 $ (74.1)
Income from discontinued operations, net of tax 11.0 22.7 40.9
Net income (loss) from continuing operations 49.9 67.4 (115.0)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities from continuing operations:      
Depreciation 14.3 28.8 24.1
Amortization 11.1 22.2 20.9
Share based compensation 4.5 8.4 7.7
Impairment of intangible assets   43.0 67.0
Impairment of property, plant and equipment and operating lease assets   0.5 4.5
Gain from debt repurchase 0.0 (4.7) 0.0
Non-cash purchase accounting adjustments 0.5 0.9 0.9
Non-cash accrual for representation and warranty proceeds   (15.0) 0.0
Amortization of debt issuance costs and debt discount   1.7 4.0
Write-off of unamortized discount and debt issuance costs   0.3 0.0
Gain from remeasurement of contingent consideration liability 0.0 0.0 (1.5)
Deferred tax benefit   10.9 (62.0)
Net changes in operating assets and liabilities   (83.7) 198.0
Net cash provided by operating activities from continuing operations   80.7 148.6
Net cash (used) provided by operating activities from discontinued operations   (81.5) 29.0
Net cash (used) provided by operating activities   (0.8) 177.6
Cash flows from investing activities      
Purchases of property, plant and equipment   (20.9) (25.9)
Purchases of short term investments   (700.0) 0.0
Proceeds from sale of short term investments   1,292.0 0.0
Purchase price settlement from sale of HHI (26.9) (26.9) 0.0
Other investing activities   0.1 0.0
Net cash provided (used) by investing activities from continuing operations   544.1 (25.9)
Net cash used by investing activities from discontinued operations   0.0 (7.9)
Net cash provided (used) by investing activities   544.1 (33.8)
Cash flows from financing activities      
Payment of debt   (177.9) (21.7)
Payment of debt issuance costs   (3.2) (2.3)
Net cash used by financing activities from continuing operations   (553.8) (68.9)
Net cash used by financing activities from discontinued operations   0.0 (0.7)
Net cash used by financing activities   (553.8) (69.6)
Effect of exchange rate changes on cash and cash equivalents   2.3 9.7
Net change in cash, cash equivalents and restricted cash in continuing operations   (8.2) 83.9
Cash, cash equivalents, and restricted cash, beginning of period   753.9 243.9
Cash, cash equivalents, and restricted cash, end of period 745.7 745.7 327.8
Non cash investing activities      
Acquisition of property, plant and equipment through finance leases   1.8 2.4
Continuing Operations      
Supplemental disclosure of cash flow information      
Cash paid for interest associated with continued operations   35.9 56.8
Cash paid for taxes associated with continued operations   17.8 11.7
Discontinued Operations      
Supplemental disclosure of cash flow information      
Cash paid for interest associated with continued operations   0.0 29.9
Cash paid for taxes associated with continued operations   59.1 13.5
SB/RH      
Cash flows from operating activities      
Net income (loss) 61.4 91.2 (73.6)
Income from discontinued operations, net of tax 11.0 22.7 41.4
Net income (loss) from continuing operations 50.4 68.5 (115.0)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities from continuing operations:      
Depreciation 14.3 28.8 24.1
Amortization   22.2 20.9
Share based compensation 4.1 7.8 7.1
Impairment of intangible assets   43.0 67.0
Impairment of property, plant and equipment and operating lease assets   0.5 4.5
Gain from debt repurchase 0.0 (4.7) 0.0
Non-cash purchase accounting adjustments 0.5 0.9 0.9
Amortization of debt issuance costs and debt discount   1.7 4.0
Write-off of unamortized discount and debt issuance costs   0.3 0.0
Gain from remeasurement of contingent consideration liability 0.0 0.0 (1.5)
Deferred tax benefit   10.8 (61.3)
Net changes in operating assets and liabilities   (100.4) 187.5
Net cash provided by operating activities from continuing operations   64.4 138.2
Net cash (used) provided by operating activities from discontinued operations   (81.5) 29.0
Net cash (used) provided by operating activities   (17.1) 167.2
Cash flows from investing activities      
Purchases of property, plant and equipment   (20.9) (25.9)
Purchases of short term investments   (700.0) 0.0
Proceeds from sale of short term investments   1,292.0 0.0
Purchase price settlement from sale of HHI   (26.9) 0.0
Other investing activities   0.1 0.0
Net cash provided (used) by investing activities from continuing operations   544.1 (25.9)
Net cash used by investing activities from discontinued operations   0.0 (7.9)
Net cash provided (used) by investing activities   544.1 (33.8)
Cash flows from financing activities      
Payment of debt   (177.9) (21.7)
Payment of debt issuance costs   (3.2) (2.3)
Payment of cash dividends to parent   (356.3) (34.4)
Net cash used by financing activities from continuing operations   (537.4) (58.4)
Net cash used by financing activities from discontinued operations   0.0 (0.7)
Net cash used by financing activities   (537.4) (59.1)
Effect of exchange rate changes on cash and cash equivalents   2.3 9.7
Net change in cash, cash equivalents and restricted cash in continuing operations   (8.1) 84.0
Cash, cash equivalents, and restricted cash, beginning of period   752.7 242.6
Cash, cash equivalents, and restricted cash, end of period $ 744.6 744.6 326.6
Non cash investing activities      
Acquisition of property, plant and equipment through finance leases   1.8 2.4
SB/RH | Continuing Operations      
Supplemental disclosure of cash flow information      
Cash paid for interest associated with continued operations   35.9 56.8
Cash paid for taxes associated with continued operations   17.8 11.7
SB/RH | Discontinued Operations      
Supplemental disclosure of cash flow information      
Cash paid for interest associated with continued operations   0.0 29.9
Cash paid for taxes associated with continued operations   $ 59.1 $ 13.5