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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net income $ 194.9 $ 148.3
Adjustment to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 206.9 229.5
Amortization of deferred financing costs and original issue discount 6.5 7.2
Debt extinguishment and refinancing related costs 7.0 (0.6)
Deferred income taxes (8.1) 2.8
Realized and unrealized foreign exchange losses, net 21.3 5.5
Stock-based compensation 19.3 14.0
Divestiture and impairment charges 15.3 0.7
Interest income on swaps designated as net investment hedges (9.1) (16.1)
Commercial agreement restructuring charge 0.0 25.0
Other non-cash, net 25.0 (1.6)
Changes in operating assets and liabilities:    
Trade accounts and notes receivable (212.9) (242.4)
Inventories 65.8 (220.8)
Prepaid expenses and other assets (68.3) (78.9)
Accounts payable 17.3 189.7
Other accrued liabilities 8.8 (2.5)
Other liabilities (0.4) (11.6)
Cash provided by operating activities 289.3 48.2
Investing activities:    
Purchase of property, plant and equipment (105.3) (107.5)
Interest proceeds on swaps designated as net investment hedges 9.1 16.1
Settlement proceeds on swaps designated as net investment hedges 29.4 25.0
Other investing activities, net 2.3 (1.5)
Cash used for investing activities (64.5) (67.9)
Financing activities:    
Proceeds from short-term borrowings 8.8 0.0
Proceeds from long-term borrowings 197.4 0.0
Payments on short-term borrowings (39.8) (52.3)
Payments on long-term borrowings (359.5) (20.5)
Financing-related costs (8.5) (0.1)
Purchases of common stock (50.0) (200.1)
Net cash flows associated with stock-based awards 6.7  
Net cash flows associated with stock-based awards   (1.7)
Deferred acquisition-related consideration (7.7) 0.0
Other financing activities, net (0.1) (0.2)
Cash used for financing activities (252.7) (274.9)
Decrease in cash (27.9) (294.6)
Effect of exchange rate changes on cash (18.9) (29.9)
Cash at beginning of period 654.9 851.2
Cash at end of period 608.1 526.7
Cash at end of period reconciliation:    
Cash and cash equivalents 605.8 517.4
Restricted cash 2.3 9.3
Cash at end of period $ 608.1 $ 526.7