XML 21 R8.htm IDEA: XBRL DOCUMENT v3.21.1
Unaudited condensed consolidated statements of cash flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 164.0 $ 47.0
Reconciling adjustments:    
Depreciation and amortization 89.0 96.5
Stock-based compensation expense 11.4 8.4
Provision for accounts receivable and inventory 7.9 16.6
Deferred income tax benefit (5.3) (4.2)
Amortization of deferred financing costs 3.9 6.9
Loss on extinguishment of debt 5.2 0.0
Foreign currency remeasurement loss 2.7 6.7
Changes in assets and liabilities:    
Accounts receivable (106.8) (80.1)
Inventory (54.3) 2.3
Accounts payable 30.3 67.0
Accrued interest (17.7) 60.8
Other assets and liabilities (5.9) 24.5
Other, net 2.5 0.7
Net cash provided by operating activities 126.9 253.1
Cash flows from investing activities:    
Capital expenditures (15.1) (12.6)
Other 0.5 0.7
Net cash used in investing activities (14.6) (11.9)
Cash flows from financing activities:    
Debt repayments (208.6) (63.8)
Payments of dividends on preferred stock (16.1) (16.1)
Proceeds received from exercise of stock options 19.9 6.8
Shares repurchased to satisfy employee tax obligations for vested stock-based awards (16.2) 0.0
Net cash used in financing activities (221.0) (73.1)
Effect of currency rate changes on cash (5.4) (8.5)
Net change in cash and cash equivalents (114.1) 159.6
Cash, cash equivalents and restricted cash, beginning of period 289.2 189.3
Cash, cash equivalents and restricted cash, end of period $ 175.1 $ 348.9