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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES    
Net loss $ (28.1) $ (24.6)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 28.6 33.7
Impairment charges 12.6 9.5
Amortization of debt issuance costs and original issue discount 0.3 0.5
Stock-based compensation 1.8 1.0
Gain on the sale or disposal of property, plant and equipment, net (0.9) (0.1)
Deferred income taxes 0.3 10.3
Changes in operating assets and liabilities (66.8) (80.9)
Net cash used in operating activities (52.2) (50.6)
INVESTING ACTIVITIES    
Purchases of property, plant and equipment (17.9) (28.7)
Cost investment in unconsolidated entities (0.2) (0.3)
Proceeds from the sale of property, plant and equipment 1.7 7.1
Other investing activities 0.5 (4.5)
Net cash used in investing activities (15.9) (26.4)
FINANCING ACTIVITIES    
Payments of current and long-term debt (101.0) (7.4)
Payments of finance lease obligations (0.8) (0.3)
Borrowings on revolving credit facilities 468.3 413.8
Payments on revolving credit facilities (389.1) (343.5)
Proceeds from issuance of long-term debt 52.8 0.0
Purchases of treasury stock 0.0 (0.3)
Equity awards redeemed to pay employees’ tax obligations (2.1) (1.7)
Payment of cash dividends (2.4) (0.1)
Other financing activities (0.2) (0.2)
Net cash provided by financing activities 25.5 60.3
Effect of exchange rates on cash and cash equivalents (0.1) 0.2
Net decrease in cash and cash equivalents (42.7) (16.5)
Cash and cash equivalents at beginning of period 52.9 25.2
Cash and cash equivalents at end of period $ 10.2 $ 8.7