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Consolidated statements of cash flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 686.5 $ 572.6 $ 116.6
Reconciling adjustments:      
Depreciation and amortization 405.5 379.2 395.4
Stock-based compensation expense 45.8 50.7 44.1
Provision for accounts receivable and inventory 65.0 44.9 69.5
Deferred income tax benefit (69.1) (17.7) (87.5)
Amortization of deferred financing costs 15.7 16.3 23.4
Loss on extinguishment of debt 12.5 12.4 346.8
Foreign currency remeasurement loss (gain) 10.0 6.7 (0.9)
Changes in assets and liabilities:      
Accounts receivable (45.2) (111.8) (102.4)
Inventory (112.5) (129.8) (69.7)
Accounts payable 15.6 64.9 110.6
Accrued interest 0.1 5.3 (29.7)
Other assets and liabilities (179.3) 56.9 110.7
Other, net (7.0) 3.0 2.9
Net cash provided by operating activities 843.6 953.6 929.8
Cash flows from investing activities:      
Capital expenditures (133.4) (111.1) (61.6)
Cash paid for acquisitions, net of cash acquired (20.2) (4,014.1) 0.0
Other 1.5 3.5 2.5
Net cash used in investing activities (109.6) (4,121.7) (59.1)
Cash flows from financing activities:      
Debt borrowings 327.2 2,834.6 3,938.8
Debt repayments (947.0) (533.9) (4,361.5)
Payments of debt refinancing fees and premiums (0.6) (40.6) (315.8)
Proceeds from issuance of stock, net of issuance costs 0.0 967.0 0.0
Payments of dividends on preferred stock (32.4) (64.6) (64.6)
Proceeds received from exercise of stock options 17.3 82.5 20.2
Proceeds received from exercise of stock options, net of shares repurchased to satisfy employee tax obligations for vested stock-based awards (13.2) (25.8) 0.0
Net cash (used in) provided by financing activities (648.7) 3,219.2 (782.9)
Effect of currency rate changes on cash (15.5) (13.2) 12.1
Net change in cash, cash equivalents and restricted cash 69.8 37.9 99.9
Cash, cash equivalents and restricted cash, beginning of year 327.1 289.2 189.3
Cash, cash equivalents and restricted cash, end of year 396.9 $ 327.1 $ 289.2
Proceeds from Hedge, Investing Activities $ 42.5