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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 (loss) $ 361.7 $ 435.0 $ 458.4
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 201.8 176.2 159.2
Stock-based compensation 31.0 28.0 27.6
Certain interest expense and other financing costs 3.9 2.2 5.2
Loss on debt extinguishment 2.4 0.0 0.0
Gain on sale of fixed assets and other (7.5) (15.6) (4.1)
Deferred income taxes 17.2 27.3 30.1
Changes in operating assets and liabilities:      
Accounts receivable 15.4 (104.7) (111.4)
Inventories (114.5) 129.1 (117.7)
Prepaid expenses and other current assets (56.0) (27.5) (36.3)
Accounts payable and accrued expenses (43.2) 141.6 (15.2)
Other assets and liabilities 7.2 (3.8) 5.3
Net cash provided by (used in) operating activities 419.4 787.8 401.1
Investing Activities      
Capital expenditures (126.6) (122.9) (90.1)
Acquisition of business, net (420.5) (119.0) (309.2)
Proceeds from sale of assets 7.9 17.5 5.2
Purchases of investments (1.3) (1.2) (1.5)
Net cash provided by (used in) investing activities (540.5) (225.6) (395.6)
Financing Activities      
Borrowings under revolving lines of credit 2,881.7 2,374.2 2,781.3
Payments under revolving lines of credit (2,815.1) (2,550.7) (2,520.6)
Borrowings under term loan 300.0 0.0 0.0
Payments under term loan (12.8) (10.0) (10.0)
Borrowings under senior notes 0.0 600.0 0.0
Payment of debt issuance costs (0.2) (8.0) 0.0
Payments under equipment financing facilities and finance leases (30.7) (21.2) (12.1)
Repurchase of convertible Preferred Stock 0.0 (805.7) 0.0
Payment of fees for the repurchase of convertible Preferred Stock (0.1) 0.0 0.0
Repurchase and retirement of common stock, net (225.0) (110.9) (388.1)
Payment of dividends on Preferred Stock 0.0 (18.9) (24.0)
Proceeds from disgorgement of short-swing profits 0.0 5.9 0.0
Proceeds from employee stock purchase plan 13.2 0.0 0.0
Proceeds from issuance of common stock related to equity awards 9.4 12.7 16.7
Payment of taxes related to net share settlement of equity awards (7.6) (13.8) (5.7)
Net cash provided by (used in) financing activities 112.8 (546.4) (162.5)
Effect of exchange rate changes on cash and cash equivalents (1.4) 0.5 (1.1)
Net increase (decrease) in cash and cash equivalents (9.7) 16.3 (158.1)
Cash and cash equivalents, beginning of period 84.0 67.7 225.8
Cash and cash equivalents, end of period 74.3 84.0 67.7
Cash paid during the period for:      
Interest 177.8 111.3 83.4
Income taxes paid (received), net of refunds [1] $ 110.6 $ 120.6 $ 157.1
[1] Taxes paid in the year ended December 31, 2022 includes $18.6 million related to the transition period from October 1, 2021 to December 31, 2021.