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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows provided by (used in) operating activities:    
Net income (loss) $ (33.4) $ (46.3)
Reconciliation of net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 430.1 437.1
Amortization of unrecognized pension loss (gain) (1.3) (2.1)
Deferred debt issuance costs amortization and write-off 41.9 14.0
Equity-based compensation expense 52.4 66.1
Restructuring charge 14.5 10.4
Restructuring payments (11.3) (12.1)
Changes in deferred income taxes (97.3) (114.3)
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 11.5 47.0
(Increase) decrease in prepaid taxes, other prepaids and other current assets 0.4 (24.4)
Increase (decrease) in deferred revenue (22.3) 4.6
Increase (decrease) in accounts payable (3.7) (9.6)
Increase (decrease) in accrued payroll (22.7) (21.5)
Increase (decrease) in other accrued and current liabilities (1.8) (32.8)
(Increase) decrease in other long-term assets (32.6) 3.2
Increase (decrease) in long-term liabilities (47.7) (34.0)
Net, other non-cash adjustments 10.2 (1.6)
Net cash provided by (used in) operating activities 286.9 283.7
Cash flows provided by (used in) investing activities:    
Cash settlements of foreign currency contracts and net investment hedges 7.6 7.7
Capital expenditures (3.8) (3.7)
Additions to computer software and other intangibles (153.7) (126.2)
Other investing activities, net [1] (10.5) 1.9
Net cash provided by (used in) investing activities (160.4) (120.3)
Cash flows provided by (used in) financing activities:    
Cash paid for repurchase of treasury shares (9.3) 0.0
Payments of dividends (65.8) (64.6)
Payment of debt issuance costs (26.6) 0.0
Payment for purchase of non-controlling interests 0.0 (95.7)
Other financing activities, net (21.9) (18.8)
Net cash provided by (used in) financing activities (31.2) (139.3)
Effect of exchange rate changes on cash and cash equivalents 5.7 (2.4)
Increase (decrease) in cash, cash equivalents and restricted cash 101.0 21.7
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 188.1 208.4
Cash, Cash Equivalents and Restricted Cash, End of Period 289.1 230.1
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents reported in the condensed consolidated balance sheets 288.7 230.1
Restricted cash included within other current assets [2] 0.4 0.0
Total cash, cash equivalents and restricted cash reported in the statements of cash flows 289.1 230.1
Cash Paid for:    
Income taxes payments (refunds), net 70.1 75.5
Interest 157.3 151.2
Noncash additions to computer software 22.4 24.9
Predecessor Revolving Credit Facility    
Cash flows provided by (used in) financing activities:    
Proceeds from borrowings on lines of credit 404.5 380.3
Payments of borrowings on lines of credit (296.5) (316.0)
New Term Loan Facility    
Cash flows provided by (used in) financing activities:    
Proceeds from borrowings on lines of credit 3,103.6 0.0
Payments of borrowings on lines of credit $ (3,119.2) $ (24.5)
[1] Higher payments for other investing activities for the nine months ended September 30, 2024 were primarily related to a payment to acquire a minority interest holding.
[2] Restricted cash represents funds set aside associated with customer refunds.