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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities      
Net loss $ (365.5) $ (1.3) $ (21.8)
Loss from discontinued operations, net of tax (27.9) (36.6) 0.0
(Loss) income from continuing operations, net of tax (337.6) 35.3 (21.8)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided (used) by operating activities:      
Depreciation 57.3 68.1 81.1
Amortization 24.5 24.8 26.6
Provision for doubtful accounts 78.3 115.4 162.4
Provision for inventory obsolescence 37.9 37.1 113.5
Share-based compensation 26.4 15.6 13.8
Foreign exchange (gains) losses (5.1) (51.5) 14.9
Deferred income taxes (0.4) 37.5 (49.0)
Impairment loss on assets 3.1 17.7 0.0
Gain on sale of business / assets (1.5) (50.1) 0.0
Certain Brazil indirect taxes 0.0 (118.3) (194.7)
Other 54.2 12.0 18.5
Changes in assets and liabilities:      
Accounts receivable (81.5) (55.2) (102.8)
Inventories (65.9) 56.0 (99.6)
Prepaid expenses and other 1.2 25.7 (49.3)
Accounts payable and accrued liabilities (61.7) (145.4) 73.1
Income and other taxes 2.5 28.8 63.2
Noncurrent assets and liabilities (1.8) 3.4 42.8
Net cash (used) provided by operating activities of continuing operations (270.1) 56.9 92.7
Cash Flows from Investing Activities      
Capital expenditures (44.6) (58.5) (94.9)
Disposal of assets 2.6 7.8 4.8
Net proceeds from sale of business / assets 11.3 99.9 0.0
Cash receipts from the settlement of corporate-owned life insurance policies 9.9 0.0 0.0
Other investing activities 0.3 1.0 (3.3)
Net cash (used) provided by investing activities of continuing operations (20.5) 50.2 (93.4)
Cash Flows from Financing Activities      
Cash dividend (8.6) 0.0 0.0
Debt, net (maturities of three months or less) 13.6 (9.2) (10.7)
Proceeds from debt 1,039.7 400.0 0.0
Repayment of debt (956.9) (388.2) (289.1)
Repurchase of common stock (0.4) (9.6) (3.2)
Net proceeds from exercise of stock options 0.0 15.6 0.0
Settlement of stock options (25.8) 0.0 0.0
Settlement of derivative operations (0.8) 37.4 0.0
Costs associated with debt issue / repayment (21.7) (26.8) 0.0
Proceeds from monetization of COFINS tax credits 0.0 19.4 0.0
Other financing activities 0.0 (0.1) (3.9)
Net cash provided (used) by financing activities of continuing operations 39.1 38.5 (306.9)
Cash Flows from Discontinued Operations      
Net cash used by operating activities of discontinued operations (16.7) (20.6) 0.0
Net cash used by discontinued operations (16.7) (20.6) 0.0
Effect of exchange rate changes on cash and cash equivalents (19.5) (0.3) (37.5)
Net (decrease) increase in cash and cash equivalents (287.7) 124.7 (345.1)
Cash and cash equivalents and restricted cash at beginning of year [1] 661.1 536.4 881.5
Cash and cash equivalents and restricted cash at end of year [1] 373.4 661.1 536.4
Cash paid for:      
Interest 133.5 122.0 139.0
Income taxes, net of refunds received $ 21.3 $ 55.9 $ 87.4
[1] The balance for the year ended December 31, 2018 and 2020 includes cash and cash equivalents classified as Assets held for sale in the Company's Consolidated Balance Sheets. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheet that sum to the total of the same such amounts shown in the Consolidated Statement of Cash Flows for the years ended December 31, 2018, 2019 and 2020.
December 31, 2020December 31, 2019December 31, 2018
Cash and cash equivalents$364.9 $650.6 $532.7 
Restricted cash7.8 2.9 — 
Long-term restricted cash(2)
— 7.6 — 
Held for sale cash and cash equivalents.7 — 3.7 
Cash and cash equivalents, and restricted cash at end of period per the statement of cash flows$373.4 $661.1 $536.4