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Consolidated and Combined Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net earnings $ 401,300,000 $ 413,000,000.0 $ 342,000,000.0
Non-cash items:      
Depreciation and amortization expense 118,900,000 88,300,000 78,300,000
Stock-based compensation expense 24,300,000 25,500,000 22,500,000
Amortization of debt issuance costs 3,400,000 3,400,000 800,000
Gain on previously held equity interests from combination of business (32,700,000) 0 0
Unrealized loss on equity securities measured at fair value 8,700,000 0 0
Loss on disposition 3,000,000.0 0 0
Impairment charges 3,600,000 0 0
Amortization of acquisition-related inventory fair value step-up 1,100,000 6,800,000 0
Impairment of goodwill 0 0 85,300,000
Write-off of deferred financing costs 0 3,400,000 0
Gain on settlement of investment 0 (3,300,000) 0
Loss (gain) on sale of property, net 800,000 0 (2,700,000)
Change in accounts receivable, net (217,200,000) (140,400,000) (92,800,000)
Change in inventories (74,300,000) (34,600,000) (7,000,000.0)
Change in prepaid expenses and other assets (16,000,000.0) (700,000) 7,500,000
Change in long-term financing receivables, net 140,300,000 136,200,000 134,700,000
Change in trade accounts payable 21,300,000 45,600,000 44,100,000
Change in accrued expenses and other liabilities (24,100,000) (16,900,000) 114,000,000.0
Change in deferred income taxes (41,200,000) (45,200,000) (35,400,000)
Net cash provided by operating activities 321,200,000 481,100,000 691,300,000
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash received (277,500,000) (955,800,000) 0
Payments for additions to property, plant and equipment (60,000,000.0) (47,800,000) (35,700,000)
Proceeds from sale of property 400,000 0 3,500,000
Cash paid for equity investments (11,800,000) (11,300,000) (9,500,000)
Proceeds from sale of equity securities 19,000,000.0 0 0
Cash received for settlement of investment 0 7,200,000 0
Net cash used in investing activities (329,900,000) (1,007,700,000) (41,700,000)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 1,167,000,000 2,186,500,000 1,800,000,000
Repayment of long-term debt (1,167,000,000) (1,400,000,000) 0
Net proceeds from (repayments of) short-term borrowings 400,000 (7,000,000.0) (5,300,000)
Payments for debt issuance costs (800,000) (5,100,000) 0
Payments of common stock cash dividend (15,900,000) (12,700,000) 0
Purchases of treasury stock (328,000,000.0) 0 0
Proceeds from stock option exercises 2,500,000 7,500,000 1,600,000
Acquisition of noncontrolling interest 0 (1,900,000) 0
Net transfers to Former Parent 0 (35,600,000) (419,900,000)
Consideration to Former Parent in connection with the Separation, net 0 0 (1,635,000,000)
Net repayments of related-party borrowings 0 0 (23,400,000)
Other financing activities (6,100,000) (6,200,000) (1,900,000)
Net cash (used in) provided by financing activities (347,900,000) 725,500,000 (283,900,000)
Effect of exchange rate changes on cash and cash equivalents (11,500,000) (6,800,000) 14,800,000
Net change in cash and cash equivalents (368,100,000) 192,100,000 380,500,000
Beginning balance of cash and cash equivalents 572,600,000 380,500,000 0
Ending balance of cash and cash equivalents $ 204,500,000 $ 572,600,000 $ 380,500,000