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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 2.1 $ 6.5
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 69.1 65.4
Non-cash interest on financing and deemed landlord financed leases 14.3 13.1
Loss on disposal of long-lived assets 3.3 0.9
Amortization of debt discount and issuance costs 1.5 1.5
Impairment loss on assets held for sale 7.0 0.0
Gain on lease termination incentive (12.0) 0.0
Deferred taxes, net 5.3 5.4
Share-based compensation 7.0 13.1
Unrealized net gains on hedging instruments and foreign currency (0.1) (2.8)
Loss on debt modification 0.0 4.7
Other 0.6 0.0
Change in assets and liabilities, net of impacts of business combinations:    
Accounts receivable, net (210.2) (227.1)
Inventories 35.2 79.3
Leasing receivables (0.1) (0.9)
Other assets 3.6 17.5
Accounts payable and accrued expenses (8.8) (50.4)
Deferred revenue (0.4) (4.3)
Accrued employee compensation and benefits 0.5 5.5
Operating lease assets and liabilities, net 2.5 3.8
Income taxes receivable/payable, net (5.7) (4.9)
Other liabilities 0.1 0.4
Net cash used in operating activities (85.2) (73.3)
Cash flows from investing activities:    
Capital expenditures (69.9) (65.4)
Business combinations, net of cash acquired 0.0 (23.3)
Other investing activities (0.1) (0.4)
Net cash used in investing activities (70.0) (89.1)
Cash flows from financing activities:    
Repayments of long-term debt and DLF obligations (13.6) (12.0)
Borrowings on credit facilities, net 19.9 0.0
Debt issuance costs (0.4) (0.2)
Repayments of financing leases (1.4) (1.5)
Proceeds from lease financing 23.9 27.2
Acquisition of treasury stock (3.3) (6.2)
Net cash provided by financing activities 25.1 7.3
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2.5 (4.4)
Net decrease in cash, cash equivalents and restricted cash (127.6) (159.5)
Cash, cash equivalents and restricted cash at beginning of period 450.3 398.8
Cash, cash equivalents and restricted cash at end of period 322.7 239.3
Less: restricted cash [1] (5.7) (5.4)
Cash and cash equivalents at end of period 317.0 233.9
Supplemental disclosures:    
Cash paid for income taxes, net 10.4 4.8
Cash paid for interest 40.3 42.9
Non-cash investing and financing activities:    
Issuance of treasury stock and common stock for compensatory stock awards released from restriction 17.7 14.0
Accrued capital expenditures 26.9 34.9
Financed additions of capital expenditures $ 0.8 $ 2.3
[1]
(1) As of March 31, 2025, includes $5.5 million of restricted cash which is classified within current assets held for sale, as well as $0.2 million of long-term restricted cash included in other assets. As of March 31, 2024, includes $0.7 million of short-term restricted cash and $4.7 million of long-term restricted cash included in other assets.