XML 25 R9.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (986.2) $ (328.5) $ (25.2)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 78.0 86.9 98.0
Stock compensation 74.4 58.4 42.7
Credit loss expense 12.0 22.2 27.8
Operating lease right-of-use asset expense 11.5 14.0 27.4
Operating lease right-of-use asset impairment 1.3 4.8 0.0
Goodwill and other asset impairments 797.9 24.0 13.4
Deferred income taxes (32.0) (24.6) (41.6)
Unrealized foreign exchange movements 36.4 (19.5) 4.4
Loss on sale of business 0.0 19.6 0.0
Write-off of debt issuance costs 1.0 12.2 0.0
Other, net 4.5 9.3 (1.0)
Change in assets and liabilities:      
Decrease (increase) in accounts receivable and unbilled services, net 70.9 309.9 (53.4)
Decrease (increase) in prepaid expenses and other 32.4 (78.1) (3.4)
(Decrease) increase in accounts payable (109.9) 7.2 55.3
Increase (decrease) in deferred revenue 114.8 140.0 (2.2)
Increase in accrued expenses and other 6.5 5.0 26.2
Net cash provided by operating activities 113.5 262.8 168.4
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (25.2) (25.5) (40.3)
Proceeds from sale of business, net 39.6 276.6 0.0
Proceeds from sale of assets 0.0 0.5 8.5
Net cash provided by (used for) investing activities 14.4 251.6 (31.8)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from revolving credit facilities 453.9 826.5 164.0
Payments on revolving credit facilities (453.9) (826.5) (164.0)
Proceeds from term loans 0.0 0.0 1,061.4
Proceeds from issuance of senior notes 0.0 0.0 570.0
Debt issuance costs (0.6) (0.7) (26.4)
Principal payments on long-term debt (75.7) (482.7) (15.4)
Payments for taxes related to net share settlement of stock awards 0.0 (14.4) 0.0
Special payment to Former Parent 0.0 0.0 (1,595.0)
Net transfers to Former Parent 0.0 0.0 (135.4)
Net cash used for financing activities (76.3) (497.8) (140.8)
Effect of exchange rate changes on cash and cash equivalents 4.5 (6.7) 2.4
Net change in cash and cash equivalents 56.1 9.9 (1.8)
Cash and cash equivalents at beginning of period 118.5 108.6 110.4
Cash and cash equivalents at end of period $ 174.6 $ 118.5 $ 108.6