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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 $ 243.1 $ 340.5 $ 33.3
Noncash items:      
Depreciation 31.8 40.8 42.4
Amortization 106.0 82.8 90.2
Allowance for credit losses 4.8 5.6 23.0
Stock-based compensation expense 30.5 28.2 22.6
Gain on sale of property, plant and equipment (1.9) (2.2) 0.0
Gain on sale of KaVo treatment unit and instrument business (8.9) (11.7) 0.0
Restructuring charges 4.7 10.8 11.1
Impairment charges 6.4 18.4 32.6
Fair value adjustment of acquisition-related inventory 9.5 0.0 0.0
Amortization of right-of-use assets 24.3 28.3 30.5
Amortization of debt discount and issuance costs 4.1 23.3 13.4
Change in deferred income taxes (29.0) (59.0) (91.4)
Change in trade accounts receivable (71.0) (43.2) 71.9
Change in inventories (39.9) (66.0) 11.9
Change in trade accounts payable 44.5 (20.3) 21.6
Change in prepaid expenses and other assets (11.7) (11.5) (2.5)
Change in accrued expenses and other liabilities (133.0) 34.3 10.0
Change in operating lease liabilities (31.6) (37.5) (36.7)
Net cash provided by operating activities 182.7 361.6 283.9
Cash flows from investing activities:      
Acquisitions, net of cash acquired (696.2) (2.1) (40.7)
Payments for additions to property, plant and equipment (75.7) (54.7) (47.7)
Proceeds from sales of property, plant and equipment 3.3 11.6 5.3
Proceeds from sale of KaVo treatment unit and instrument business, net 73.9 312.5 0.0
Proceeds from the settlement of derivative financial instruments 56.0 11.4 14.0
All other investing activities, net (18.6) (16.0) 0.0
Net cash (used in) provided by investing activities (657.3) 262.7 (69.1)
Cash flows from financing activities:      
Proceeds from revolving line of credit 124.0 0.0 249.8
Repayment of revolving line of credit (124.0) 0.0 (250.0)
Proceeds from borrowing 0.3 0.0 0.0
Repayment of borrowing (0.5) (475.7) 0.0
Proceeds from issuance of convertible senior notes 0.0 0.0 517.5
Payment of debt issuance and other deferred financing costs 0.0 (2.3) (17.2)
Purchase of capped calls related to issuance of convertible senior notes 0.0 0.0 (20.7)
Proceeds from stock option exercises 21.8 19.5 13.8
Tax withholding payment related to net settlement of equity awards (9.1) (7.2) (5.0)
All other financing activities 0.0 0.1 4.3
Net cash provided by (used in) financing activities 12.5 (465.6) 492.5
Effect of exchange rate changes on cash and cash equivalents (4.6) 26.0 (29.6)
Net change in cash and cash equivalents (466.7) 184.7 677.7
Beginning balance of cash and cash equivalents 1,073.6 888.9 211.2
Ending balance of cash and cash equivalents 606.9 1,073.6 888.9
Supplemental data:      
Cash paid for interest 38.4 35.7 56.7
Cash paid for taxes 119.2 84.0 28.6
ROU assets obtained in exchange for operating lease obligations $ 36.0 $ 24.7 $ 28.1