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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flow from operating activities:      
Net income $ 99.2 $ 80.8  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 184.7 202.8  
Equity in earnings of unconsolidated affiliates, net (0.7)    
Cash distributions received from unconsolidated affiliates 2.0 0.1  
Stock-based compensation expense 22.5 20.4  
Net losses (gains) on investments 11.3 (7.7)  
Amortization and write-offs of loan origination costs and original issue discounts 3.5 4.3  
Loss on extinguishment of debt 0.4    
Loss on sale or disposition of property and equipment 3.7 2.5  
Deferred income taxes (32.3) (29.6)  
Provision for doubtful accounts 2.3 0.6  
Changes in operating assets and liabilities, excluding effects from acquisitions:      
Accounts receivable (27.2) (2.9)  
Prepaid expenses and other assets 13.2 21.9  
Contract assets (10.5) 4.2  
Accounts payable 6.4 3.6  
Accrued expenses and other liabilities (171.0) (161.8)  
Income taxes prepaid and payable 38.1 (16.6)  
Deferred revenue 2.1 14.8  
Net cash provided by operating activities 147.7 137.4  
Cash flow from investing activities:      
Cash paid for business acquisitions, net of cash acquired (16.3) 3.2  
Additions to property and equipment (8.5) (16.3)  
Additions to capitalized software (18.0) (16.4)  
Investments in securities (40.0)    
Proceeds from sales / maturities of investments 6.9 10.8  
Collection of other non-current receivables 2.6 2.6  
Net cash used in investing activities (73.3) (16.1)  
Cash flow from financing activities:      
Cash received from debt borrowings 246.0 2,140.0  
Repayments of debt (95.9) (2,278.4)  
Fees paid for debt extinguishment and refinancing activities   (4.6)  
Net decrease in client funds obligations (670.7) (79.3)  
Proceeds from exercise of stock options 38.1 45.1  
Withholding taxes paid related to equity award net share settlement (3.3) (9.5)  
Dividends paid on common stock (31.9) (25.2) $ (25.2)
Net cash used in financing activities (517.7) (211.9)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7.1) 0.7  
Net decrease in cash, cash equivalents and restricted cash (450.4) (89.9)  
Cash, cash equivalents and restricted cash, beginning of period 1,789.4 1,113.3 1,113.3
Cash, cash equivalents and restricted cash and cash equivalents, end of period 1,339.0 1,023.4 1,789.4
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents:      
Cash and cash equivalents 373.7 154.6 152.8
Restricted cash and cash equivalents 8.3 5.6 $ 9.0
Funds receivable and funds held on behalf of clients 957.0 863.2  
Cash and cash equivalents and restricted cash $ 1,339.0 $ 1,023.4