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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (206.9) $ (619.0)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 125.7 143.3
Foreign currency losses (gains) from re-measurement 10.6 (6.0)
Amortization of debt discount 0.9 1.4
Stock-based compensation amortization 14.0 10.4
Impairment charges 0.0 144.1
Provision for (benefit from) deferred income taxes (20.0) 152.8
Gain on early extinguishment of debt 0.0 (43.1)
Amortization of debt issuance costs 39.6 26.8
Gain on divested assets (1.1) (0.5)
Pension and other post-retirement cost 4.8 4.0
Paid-in-kind interest expense on the 2020 BrandCo Facilities 18.8 10.8
Change in assets and liabilities:    
(Increase) decrease in trade receivables (38.6) 76.7
Decrease (increase) in inventories 35.1 (8.4)
(Increase) decrease in prepaid expenses and other current assets (3.4) 8.0
Increase (decrease) in accounts payable 30.5 (53.1)
Increase (decrease) in accrued expenses and other current liabilities 7.3 (9.9)
Increase (decrease) in deferred revenue (4.2) 71.6
Pension and other post-retirement plan contributions (22.5) (9.8)
Purchases of permanent displays (24.9) (30.8)
Other, net 23.3 33.4
Net cash used in operating activities (11.0) (97.3)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (14.2) (10.3)
Proceeds from the sale of certain assets 2.1 0.0
Net cash used in investing activities (12.1) (10.3)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net decrease in short-term borrowings and overdraft (13.7) 4.3
Borrowings on term loans 305.0 880.0
Repayments on term loans [1] (197.2) (524.3)
(Repayments) under the revolving credit facilities (29.3) (133.5)
Payment of financing costs (17.9) (122.0)
Tax withholdings related to net share settlements of restricted stock and RSUs (2.4) (1.7)
Other financing activities (0.3) (0.3)
Net cash provided by (used in) financing activities 44.2 102.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2.7) 3.1
Net increase (decrease) in cash, cash equivalents and restricted cash 18.4 (2.0)
Cash, cash equivalents and restricted cash at beginning of period [2] 102.5 104.5
Cash, cash equivalents and restricted cash at end of period [2] 120.9 102.5
Cash paid during the period for:    
Interest 241.5 238.6
Income taxes, net of refunds 9.6 18.6
Supplemental schedule of non-cash investing and financing activities:    
Non-cash roll-up of participating lenders from the 2016 Term Loan Facility to the 2020 BrandCo Facilities 0.0 846.0
Paid-in-kind interest capitalized to the 2020 BrandCo Facilities 18.8 9.6
2020 BrandCo Facilities    
Supplemental schedule of non-cash investing and financing activities:    
Paid-in-kind debt issuance costs/fees 0.0 29.1
B-2 Loans    
Supplemental schedule of non-cash investing and financing activities:    
Paid-in-kind debt issuance costs/fees $ 0.0 $ 17.5
[1] Repayments on term loans for the year ended December 31, 2020 includes the repayment of the 2019 Term Loan Facility, repayment under the 2018 Foreign Asset-Based Term Loan and repayments under the 2016 Term Loan Facility of $200.0 million, $31.4 million and $11.5 million, respectively, as well as repurchases of the 5.75% Senior Notes of $281.4 million. During 2020, the Company used a portion of the proceeds from the 2020 BrandCo Facility to repurchase and subsequently cancel a portion of its 5.75% Senior Notes. See Note 8, "Debt" in the Company's 2020 Form 10-K for additional information.
[2] These amounts include restricted cash of $18.5 million and $5.4 million as of December 31, 2021 and 2020, respectively. The balance as of December 31, 2021 represents: (i) cash on deposit in lieu of a mandatory prepayment and loan proceeds held in escrow until certain collateral perfection requirements are satisfied under the 2021 Foreign Asset-Based Term Agreement; and (ii) cash on deposit to support outstanding undrawn letters of credit. The balance as of December 31, 2020 represents: (i) cash on deposit in lieu of a mandatory prepayment under the 2018 Foreign Asset-Based Term Facility; and (ii) cash on deposit to support outstanding undrawn letters of credit. These balances were included within prepaid expenses and other current assets and other assets in the Company's Consolidated Balance Sheets as of December 31, 2021 and December 31, 2020, respectively.