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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 104.7 $ 115.4
Adjustments to reconcile net income to net operating cash flows:    
Depreciation 29.6 39.4
Amortization of intangible assets 41.4 52.9
Amortization of deferred financing costs 0.8 3.5
Gain on foreign currency, net (2.2) (0.0)
Accretion of debt discount 0.1 0.4
Non-cash amortization of interest rate swap expense   9.0
Loss on debt redemption 0.1  
Impairment charges 11.3  
Unrealized gain on investment in MTEK Industry AB (0.7)  
Gain on disposal and other (0.3) (0.6)
Expense for deferred taxes 8.1  
Stock-based compensation 12.1 11.0
Amortization of inventory fair value adjustment 2.4  
Changes in assets and liabilities:    
Trade receivables, net (48.3) (14.2)
Inventories (72.4) (50.2)
Accounts payable and accrued liabilities 25.7 32.7
Other current assets and liabilities (29.1) (26.2)
Other operating assets and liabilities (3.2) 3.0
JVS transaction costs paid (7.6)  
Net cash provided by operating activities 72.5 170.1
Cash flows from investing activities    
Purchase of property, plant and equipment (42.7) (25.6)
Proceeds from sale of building   2.2
Proceeds from sale of JVS business 325.9  
Investment in MTEK Industry AB (4.6)  
Nook Industries acquisition purchase price adjustment (0.1)  
Net cash provided by (used in) investing activities 278.5 (23.4)
Cash flows from financing activities    
Payments on Revolving Credit Facility (345.0)  
Borrowing under Revolving Credit Facility 15.0  
Repurchase of Notes (16.4)  
Dividend payments (16.4) (13.1)
Net payments on financing leases, mortgages, and other obligations (0.7) (2.5)
Net proceeds from China debt   2.1
Proceeds from issuance of common stock upon exercise of options   2.2
Shares surrendered for tax withholding (6.1) (5.5)
Net cash used in financing activities (377.1) (136.8)
Effect of exchange rate changes on cash and cash equivalents (21.8) (7.5)
Net change in cash and cash equivalents (47.9) 2.4
Cash and cash equivalents at beginning of period 246.1 254.4
Cash and cash equivalents at end of period 198.2 256.8
Cash paid during the period for:    
Interest paid on borrowings 30.3 30.8
Income taxes paid 71.7 59.4
Term Loan A    
Cash flows from financing activities    
Payments on Term Loan Facility $ (7.5)  
Term Loan B    
Cash flows from financing activities    
Payments on Term Loan Facility   $ (120.0)