XML 25 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income (loss) $ 495.8 $ 460.2 $ 76.6
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:      
Depreciation 81.6 74.3 72.0
Amortization 195.4 196.7 230.4
Deferred income taxes (54.5) (131.6) (8.6)
Amortization of debt discount and issuance costs 7.0 7.9 7.5
Change in fair value of warrant liabilities 449.2 157.9 (90.9)
Stock-based compensation 34.6 25.0 24.7
Payment of contingent consideration 0.0 0.0 (8.7)
Gain on sale of property, plant and equipment 0.0 0.0 (3.7)
Changes in operating working capital 114.1 66.7 (449.2)
Other (3.9) 43.4 (2.9)
Net cash provided by (used for) operating activities 1,319.3 900.5 (152.8)
Cash flows from investing activities:      
Capital expenditures (167.0) (127.9) (100.0)
Investments in capitalized software (17.1) (6.7) (11.0)
Proceeds from disposition of property, plant and equipment 0.0 12.4 3.9
Acquisition of business (17.6) (28.8) (5.0)
Proceeds from sale of business 0.0 11.9 0.0
Net cash provided by (used for) investing activities (201.7) (139.1) (112.1)
Cash flows from financing activities:      
Borrowings from ABL revolving credit facility and short-term borrowings 270.0 224.9 790.8
Repayments of ABL revolving credit facility and short-term borrowings (270.0) (459.9) (555.8)
Repayment of long-term debt (21.1) (27.1) (16.4)
Payment of debt issuance costs 0.0 0.0 0.6
Payment of tax receivable agreement 0.0 0.0 (100.0)
Payment of contingent consideration 0.0 0.0 (12.8)
Dividend payment (42.2) (9.5) (3.8)
Repurchase of common shares (599.9) 0.0 0.0
Exercise of employee stock options 33.0 27.4 3.1
Employee taxes paid from shares withheld (21.9) (3.3) (4.3)
Net cash provided by (used for) financing activities (652.1) (247.5) 100.2
Effect of exchange rate changes on cash and cash equivalents (21.9) 1.5 (9.2)
Increase (decrease) in cash, cash equivalents and restricted cash 443.6 515.4 (173.9)
Beginning cash, cash equivalents and restricted cash 788.6 273.2 447.1
Ending cash, cash equivalents and restricted cash 1,232.2 788.6 273.2
Changes in operating working capital      
Accounts receivable (280.3) (277.2) (368.0)
Inventories (369.3) (54.0) (211.4)
Other current assets (63.7) 4.7 (36.6)
Accounts payable 343.1 (17.7) 132.8
Deferred revenue 434.5 274.2 67.6
Accrued expenses and other liabilities 7.0 91.5 (22.0)
Income taxes 42.8 45.2 (11.6)
Total changes in operating working capital 114.1 66.7 (449.2)
Supplemental Disclosures      
Cash paid during the year for interest 155.5 176.7 132.8
Cash paid during the year for income tax, net 272.5 153.0 104.6
Property and equipment acquired during the year for capital lease obligations 7.0 2.9 4.3
Noncash Supplemental Disclosure      
Seller provided financing for the disposition of property, plant and equipment $ 0.0 $ 0.0 $ 12.2