XML 17 R6.htm IDEA: XBRL DOCUMENT v3.22.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 28.8 $ 41.4
Adjustments to reconcile net income (loss) to net cash used for operating activities:    
Depreciation 35.5 35.2
Amortization 120.7 70.5
Deferred income taxes (9.2) (22.3)
Amortization of debt discount and issuance costs 4.8 3.3
Loss on extinguishment of debt 0.0 0.4
Change in fair value of warrant liabilities (133.8) 84.8
Changes in operating working capital (377.8) (126.1)
Stock-based compensation 13.8 11.8
Payment of contingent consideration (8.7) 0.0
Changes in tax receivable agreement 0.0 1.6
Other (12.0) 19.4
Net cash provided by (used for) operating activities (337.9) 120.0
Cash flows from investing activities:    
Capital expenditures (38.2) (30.4)
Investments in capitalized software (6.7) (5.4)
Acquisition of business, net of cash acquired (5.0) 0.0
Net cash used for investing activities (49.9) (35.8)
Cash flows from financing activities:    
Borrowings from ABL revolving credit facility and short-term borrowings 447.6 0.0
Repayments of ABL revolving credit facility and short-term borrowings (254.7) 0.0
Repayment of long-term debt (10.9) (10.9)
Proceeds from the exercise of warrants 0.0 107.5
Payment of tax receivable agreement (12.5) 0.0
Payment of contingent consideration (12.8) 0.0
Exercise of employee stock options 1.1 2.1
Employee taxes paid from shares withheld (4.3) (7.0)
Net cash provided by (used for) financing activities 153.5 91.7
Effect of exchange rate changes on cash and cash equivalents (7.5) (1.7)
Increase (decrease) in cash, cash equivalents and restricted cash (241.8) 174.2
Beginning cash, cash equivalents and restricted cash 447.1 542.6
Ending cash, cash equivalents and restricted cash 205.3 716.8
Changes in operating working capital    
Accounts receivable (169.8) (28.4)
Inventories (187.1) (107.3)
Other current assets (10.0) (8.1)
Accounts payable 20.6 50.9
Accrued expenses and other liabilities (14.6) (16.0)
Income taxes (16.9) (17.2)
Changes in operating working capital $ (377.8) $ (126.1)