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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net (loss) income $ (131.5) $ 22.7
Loss on disposal of assets 0.2 1.2
Depreciation 14.1 17.3
Amortization of debt issuance costs 1.5 1.5
Amortization of intangibles 21.5 21.9
Stock-based compensation 7.6 8.9
Non-cash charge for impairment of goodwill and intangible assets 165.2 0.0
Changes in operating assets and liabilities:    
Accounts receivable 43.7 (33.4)
Inventories (12.2) 10.1
Other assets (15.9) (9.0)
Accounts payable (4.6) (55.1)
Accrued expenses and other liabilities (58.5) (19.1)
Accrued income taxes (28.5) (6.3)
Net cash provided (used) by operating activities 2.6 (39.3)
Investing activities    
Additions to property, plant and equipment (4.9) (6.1)
Proceeds from the disposition of assets 0.1 0.0
Net cash used by investing activities (4.8) (6.1)
Financing activities    
Proceeds from long-term borrowings 92.0 107.9
Repayments of long-term debt (38.1) (28.2)
Borrowings (repayments) of notes payable, net 13.8 (2.4)
Dividends paid (14.3) (14.2)
Payments related to tax withholding for stock-based compensation (1.9) (1.7)
Net cash provided by financing activities 51.5 61.4
Effect of foreign exchange rate changes on cash and cash equivalents (3.0) 4.2
Net increase in cash and cash equivalents 46.3 20.2
Cash and cash equivalents    
Beginning of the period 66.4 62.2
End of the period 112.7 82.4
Cash paid during the year for:    
Interest 24.9 30.3
Income taxes $ 27.2 $ 22.1