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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net (loss) income $ (100.2) $ 243.1 $ 340.5
Noncash items:      
Depreciation 36.0 31.8 40.8
Amortization 99.6 106.0 82.8
Allowance for credit losses 7.1 4.8 5.6
Stock-based compensation expense 30.7 30.5 28.2
Gain on equity investments, net (3.6) 0.0 0.0
Gain on sale of property, plant and equipment (5.4) (1.9) (2.2)
Gain on sale of KaVo treatment unit and instrument business 0.0 (8.9) (11.7)
Restructuring charges 1.3 4.7 10.8
Goodwill and intangible asset impairment 258.3 0.0 0.0
Other impairment charges 0.2 6.4 18.4
Fair value adjustment of acquisition-related inventory 0.0 9.5 0.0
Amortization of right-of-use assets 27.0 24.3 28.3
Inducement expense related to exchange of convertible notes 28.5 0.0 0.0
Amortization of debt discount and issuance costs 4.6 4.1 23.3
Change in deferred income taxes (37.0) (29.0) (59.0)
Change in trade accounts receivable (17.0) (71.0) (43.2)
Change in inventories 35.1 (39.9) (66.0)
Change in trade accounts payable (46.3) 44.5 (20.3)
Change in prepaid expenses and other assets 3.3 (11.7) (11.5)
Change in accrued expenses and other liabilities (12.0) (133.0) 34.3
Change in operating lease liabilities (34.5) (31.6) (37.5)
Net cash provided by operating activities 275.7 182.7 361.6
Cash flows from investing activities:      
Payments for additions to property, plant and equipment (58.2) (75.7) (54.7)
Proceeds from sales of property, plant and equipment 6.1 3.3 11.6
Proceeds from sale of equity investment 10.7 0.0 0.0
Acquisitions, net of cash acquired 0.0 (696.2) (2.1)
Proceeds from sale of KaVo treatment unit and instrument business, net 0.0 73.9 312.5
Proceeds from the settlement of derivative financial instruments 1.6 56.0 11.4
All other investing activities, net (22.6) (18.6) (16.0)
Net cash (used in) provided by investing activities (62.4) (657.3) 262.7
Cash flows from financing activities:      
Proceeds from issuance of convertible notes due 2028 500.2 0.0 0.0
Principal paid related to exchange of convertible notes due 2025 (401.2) 0.0 0.0
Proceeds from borrowings 323.5 0.3 0.0
Repayment of borrowings (288.8) (0.5) (475.7)
Proceeds from revolving line of credit 0.0 124.0 0.0
Repayment of revolving line of credit 0.0 (124.0) 0.0
Proceeds from stock option exercises 11.3 21.8 19.5
Tax withholding payment related to net settlement of equity awards (7.9) (9.1) (7.2)
All other financing activities 0.1 0.0 0.1
Net cash provided by (used in) financing activities 118.9 12.5 (465.6)
Effect of exchange rate changes on cash and cash equivalents 0.9 (4.6) 26.0
Net change in cash and cash equivalents 333.1 (466.7) 184.7
Beginning balance of cash and cash equivalents 606.9 1,073.6 888.9
Ending balance of cash and cash equivalents 940.0 606.9 1,073.6
Supplemental data:      
Cash paid for interest 63.2 38.4 35.7
Cash paid for taxes 98.6 119.2 84.0
ROU assets obtained in exchange for operating lease obligations 22.1 36.0 24.7
Convertible senior notes due 2028 (the “2028 Convertible Notes”)      
Cash flows from financing activities:      
Debt issuance costs related to issuance of convertible notes due 2028 (13.8) 0.0 0.0
Debt issuance costs related to other borrowings (13.8) 0.0 0.0
Other Borrowings      
Cash flows from financing activities:      
Debt issuance costs related to issuance of convertible notes due 2028 (4.5) 0.0 (2.3)
Debt issuance costs related to other borrowings $ (4.5) $ 0.0 $ (2.3)