XML 31 R8.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:      
Net (loss) income $ (7.7) $ 14.0 $ 46.3
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation 105.2 98.9 84.7
Amortization of intangible assets 44.5 51.5 52.3
Amortization of financing costs and original issue discount 3.5 3.7 3.7
Loss on debt extinguishment [1] 8.3 12.6 0.0
Deferred taxes (21.5) (6.6) 28.9
Equity-based compensation 22.1 18.9 19.7
Realized (gain) loss on hedges (15.2) (1.0) 4.6
Other non-cash activities, net (5.3) (1.7) (4.1)
Change in operating assets and liabilities:      
Accounts receivable (52.6) (6.3) (41.9)
Unbilled and deferred revenue (5.4) (6.9) (25.8)
Other operating assets 17.1 (10.5) (28.4)
Accounts payable and other operating liabilities 36.9 (59.7) 8.4
Net cash provided by operating activities 129.9 106.9 148.4
Cash flows from investing activities:      
Purchase of property and equipment (71.3) (107.3) (61.2)
Proceeds from sale of property and equipment 21.6 7.1 9.5
Business acquisitions, net of cash acquired (13.8) (93.1) (110.4)
Proceeds from divestitures 0.0 0.0 2.7
Other investing activities, net 2.1 (0.4) 0.7
Net cash (used) by investing activities (61.4) (193.7) (158.7)
Cash flows from financing activities:      
Repayments of finance lease obligations (27.6) (27.0) (20.5)
Repayments of term loan (459.0) (1,006.3) (10.4)
Repayments of receivables financing agreement (554.5) (374.4) (24.6)
Repayments of revolving credit facility (33.5) (165.0) 0.0
Proceeds from term loan, net of issuance costs 0.0 1,180.1 0.0
Proceeds from receivables financing agreement, net of issuance costs 549.5 391.7 34.5
Proceeds from revolving credit facility 33.5 165.0 0.0
Debt issuance and prepayment costs (1.8) (4.6) 0.0
Proceeds from Issuance of Series A Preferred Stock, Net of Issuance Costs 495.0 0.0 0.0
Proceeds from issuance of common stock, net of share issuance costs 1.2 1.6 1.8
Repurchase of common stock and distributions (2.2) (163.8) (1.9)
Contingent business acquisition payments (22.1) 0.0 0.0
Other financing activities, net (0.1) (14.1) (2.0)
Net cash (used) by financing activities (21.6) (16.8) (23.1)
Net change in cash and cash equivalents 46.9 (103.6) (33.4)
Cash and cash equivalents, beginning of period 20.1 123.7 157.1
Cash and cash equivalents, end of period 67.0 20.1 123.7
Supplemental Cash Flow Information:      
Cash (received) paid for income taxes, net (9.8) 17.3 19.5
Cash paid for interest, net 82.1 48.7 40.1
Series A Convertible Preferred Stock      
Supplemental Cash Flow Information:      
Non-cash Series A Preferred Stock dividends $ 3.2 $ 0.0 $ 0.0
[1] Represents losses on the extinguishment of debt related to Amendments No. 6 and No. 7 to the Credit Agreement, in the fiscal years ended September 30, 2022 and 2023, respectively, and includes accelerated amortization of deferred financing fees and original issue discount as well as fees paid to lenders and third parties.