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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows provided by (used in) operating activities:    
Net income (loss) $ (51.6) $ (29.8)
Reconciliation of net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 290.4 296.4
Amortization of unrecognized pension loss (gain) (1.4) (0.2)
Debt early redemption premium expense 0.0 16.3
Deferred debt issuance costs amortization and write-off 8.4 15.3
Equity-based compensation expense 45.3 26.0
Restructuring charge 8.8 7.7
Restructuring payments (8.8) (7.3)
Changes in deferred income taxes (74.5) (60.3)
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 86.5 68.1
(Increase) decrease in prepaid taxes, other prepaids and other current assets (9.8) (29.6)
Increase (decrease) in deferred revenue 42.5 29.8
Increase (decrease) in accounts payable (8.0) (3.5)
Increase (decrease) in accrued payroll (28.0) (50.5)
Increase (decrease) in other accrued and current liabilities (54.3) (22.1)
(Increase) decrease in other long-term assets 2.6 (4.6)
Increase (decrease) in long-term liabilities (28.4) (35.5)
Net, other non-cash adjustments (5.1) 0.3
Net cash provided by (used in) operating activities 214.6 216.5
Cash flows provided by (used in) investing activities:    
Acquisitions of businesses, net of cash acquired 0.0 (0.5)
Cash settlements of foreign currency contracts and net investment hedge 13.6 (6.2)
Capital expenditures (2.6) (7.5)
Additions to computer software and other intangibles (91.9) (91.7)
Other investing activities, net (0.3) 2.5
Net cash provided by (used in) investing activities (81.2) (103.4)
Cash flows provided by (used in) financing activities:    
Payment for debt early redemption premiums 0.0 (16.3)
Payments of dividends [1] (43.0) 0.0
Payment of long term debt 0.0 (420.0)
Proceeds from borrowings on Term Loan Facility 0.0 460.0
Payment of debt issuance costs 0.0 (7.4)
Payment for purchase of non-controlling interests (85.9) 0.0
Other financing activities, net [2] (11.4) (0.8)
Net cash provided by (used in) financing activities (88.0) (64.7)
Effect of exchange rate changes on cash and cash equivalents 6.8 (10.0)
Increase (decrease) in cash, cash equivalents and restricted cash 52.2 38.4
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 208.4 177.1
Cash, Cash Equivalents and Restricted Cash, End of Period 260.6 215.5
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents 260.6 209.6
Restricted cash included within other current assets [3] 0.0 5.9
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows 260.6 215.5
Cash Paid for:    
Income taxes payment (refund), net 63.4 84.3
Interest 103.0 83.4
Noncash Investing and Financing activities:    
Fair value of acquired assets, including measurement period adjustments 0.0 0.5
Unpaid purchase price accrued in "Other accrued and current liabilities" 0.0 (0.5)
Assumed liabilities from acquired businesses including non-controlling interest and measurement period adjustments 0.0 0.0
Noncash additions to computer software - net of cash paid for prior year noncash additions 4.5 14.0
Credit Facility    
Cash flows provided by (used in) financing activities:    
Proceeds from borrowings on Credit Facility 272.6 116.8
Payments of borrowings on lines of credit (203.9) (181.8)
Term Loan Facility    
Cash flows provided by (used in) financing activities:    
Payments of borrowings on lines of credit $ (16.4) $ (15.2)
[1] Payments of dividends for the six months ended June 30, 2023 are related to quarterly common stock dividends.
[2] Primarily related to payments for finance lease assets. See further details in Note 16.
[3] Restricted cash represents funds set aside associated with the Federal Trade Commission Consent Order to provide refunds to certain former and current customers. See Note 9 on Form 10-K filed with the SEC on February 23, 2023 for further detail.