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Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Operating Activities      
Net income (loss) $ (211.6) $ 219.5 $ 305.8
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Stock-based compensation expense 45.1 42.4 51.8
Depreciation and amortization 143.3 123.8 114.5
Change in fair value of contingent obligations, net 2.6 2.9 31.7
Amortization of deferred financing costs 4.1 4.1 3.5
Impairments 6.7 41.7 29.0
Deferred income taxes (28.6) 46.0 (3.3)
Write off of contract asset and liability 0.0 (17.2) 0.0
Other 6.4 2.0 (5.6)
Changes in operating assets and liabilities:      
Accounts receivable 118.1 (16.2) 27.5
Inventories (57.1) (66.6) (66.9)
Prepaid expenses and other assets (19.9) 7.7 (26.9)
Accounts payable (14.0) (1.6) 28.3
Accrued expenses and other liabilities (66.7) (9.2) 8.5
Accrued compensation (0.8) 4.0 21.8
Income taxes receivable and payable, net 28.7 (31.3) 6.0
Contract liabilities 9.6 (31.8) 11.2
Net cash provided by (used in) operating activities (34.1) 320.2 536.9
Investing Activities      
Purchases of property, plant and equipment (115.8) (224.1) (141.9)
Royalty settlement payment (21.8) 0.0 0.0
Milestone payment from prior asset acquisition 0.0 0.0 (10.0)
Asset acquisitions (243.7) 0.0 0.0
Net cash used in investing activities (381.3) (224.1) (151.9)
Financing Activities      
Purchases of treasury stock (82.1) (106.0) 0.0
Proceeds from senior unsecured notes 0.0 0.0 450.0
Principal payments on convertible senior notes 0.0 (10.6) 0.0
Proceeds from revolving credit facility 598.0 0.0 0.0
Principal payments on revolving credit facility 0.0 0.0 (373.0)
Principal payments on term loan facility (33.8) (25.3) (14.1)
Proceeds from stock-based compensation activity 5.0 15.9 31.6
Taxes paid for stock-based compensation activity (5.9) (13.8) (13.8)
Debt issuance costs 0.0 0.0 (8.4)
Contingent consideration payments 0.0 (1.2) (2.8)
Net cash provided by (used in) financing activities: 481.2 (141.0) 69.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.5 (0.3) (1.0)
Net change in cash, cash equivalents and restricted cash 66.3 (45.2) 453.5
Cash, cash equivalents and restricted cash, beginning of period 576.3 621.5 168.0
Cash, cash equivalents and restricted cash, end of period 642.6 576.3 621.5
Supplemental disclosure of cash flow information:      
Cash paid for interest 33.0 30.4 21.0
Cash paid for income taxes 6.2 71.6 109.3
Supplemental information on non-cash investing and financing activities:      
Purchases of property, plant and equipment unpaid at period end 9.4 20.0 22.9
Purchases of treasury stock unpaid at period end 0.0 6.6 0.0
Reconciliation of cash and cash equivalents and restricted cash:      
Cash and cash equivalents 642.6 576.1 621.3
Restricted cash 0.0 0.2 0.2
Total $ 642.6 $ 576.3 $ 621.5