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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net (loss) income $ (1,118.6) $ (100.2) $ 243.1
Noncash items:      
Depreciation 40.8 36.0 31.8
Amortization 82.3 99.6 106.0
Allowance for credit losses 17.9 7.1 4.8
Stock-based compensation expense 35.3 30.7 30.5
Loss (gain) on equity investments, net 0.4 (3.6) 0.0
Loss (gain) on sale of property, plant and equipment 2.8 (5.4) (1.9)
Gain on sale of KaVo treatment unit and instrument business 0.0 0.0 (8.9)
Restructuring charges 0.0 1.3 4.7
Goodwill and intangible asset impairments 1,153.8 258.3 0.0
Fixed assets impairments and other charges 17.1 0.2 6.4
Fair value adjustment of acquisition-related inventory 0.0 0.0 9.5
Non-cash operating lease costs 31.4 27.0 24.3
Inducement expense related to exchange of convertible notes 0.0 28.5 0.0
Amortization of debt discount and issuance costs 4.9 4.6 4.1
Deferred income taxes (29.0) (37.0) (29.0)
Change in trade accounts receivable 10.0 (17.0) (71.0)
Change in inventories 3.6 35.1 (39.9)
Change in trade accounts payable (1.2) (46.3) 44.5
Change in prepaid expenses and other assets (6.7) 3.3 (11.7)
Change in accrued expenses and other liabilities 134.5 (12.0) (133.0)
Change in operating lease liabilities (42.8) (34.5) (31.6)
Net cash provided by operating activities 336.5 275.7 182.7
Cash flows from investing activities:      
Payments for additions to property, plant and equipment (33.8) (58.2) (75.7)
Purchases of investments held in rabbi trust (32.8) 0.0 0.0
Proceeds from sale of investments held in rabbi trust 9.3 0.0 0.0
Proceeds from sales of property, plant and equipment 0.1 6.1 3.3
Proceeds from sale of equity investment 0.4 10.7 0.0
Acquisitions, net of cash acquired 0.0 0.0 (696.2)
Proceeds from sale of KaVo treatment unit and instrument business, net 0.0 0.0 73.9
Proceeds from the settlement of derivative financial instruments 2.5 1.6 56.0
All other investing activities, net (0.3) (22.6) (18.6)
Net cash used in investing activities (54.6) (62.4) (657.3)
Cash flows from financing activities:      
Proceeds from stock option exercises 2.4 11.3 21.8
Tax withholding payment related to net settlement of equity awards (5.3) (7.9) (9.1)
Proceeds from issuance of convertible notes due 2028 0.0 500.2 0.0
Principal paid related to exchange of convertible notes due 2025 0.0 (401.2) 0.0
Proceeds from borrowings 0.0 323.5 0.3
Repayment of borrowings (100.0) (288.8) (0.5)
Proceeds from revolving line of credit 0.0 0.0 124.0
Repayment of revolving line of credit 0.0 0.0 (124.0)
All other financing activities (0.8) 0.1 0.0
Net cash (used in) provided by financing activities (103.7) 118.9 12.5
Effect of exchange rate changes on cash and cash equivalents (49.1) 0.9 (4.6)
Net change in cash and cash equivalents 129.1 333.1 (466.7)
Beginning balance of cash and cash equivalents 940.0 606.9 1,073.6
Ending balance of cash and cash equivalents 1,069.1 940.0 606.9
Supplemental data:      
Cash paid for interest 54.7 63.2 38.4
Cash paid for taxes 32.9 98.6 119.2
ROU assets obtained in exchange for operating lease obligations 54.8 22.1 36.0
Convertible senior notes due 2028 (the “2028 Convertible Notes”)      
Cash flows from financing activities:      
Debt issuance costs 0.0 (13.8) 0.0
Other Borrowings      
Cash flows from financing activities:      
Debt issuance costs $ 0.0 $ (4.5) $ 0.0