v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 98.2 $ 147.4
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 29.2 26.4
Share-based compensation expenses 12.4 13.3
Non-cash interest expense 1.7 7.1
Deferred income taxes 5.9 8.3
Inventory write-downs 10.9 9.5
Foreign exchange transaction loss 2.4 0.3
Other (3.8) (1.1)
Changes in operating assets and liabilities:    
Receivables (16.7) (21.9)
Inventories (7.9) (31.5)
Prepaid expenses and other current assets (28.8) (15.7)
Accounts payable (2.3) 23.4
Royalty overrides 42.8 (8.4)
Other current liabilities (22.3) (52.0)
Other 8.8 5.0
Net cash provided by operating activities 130.5 110.1
Cash flows from investing activities:    
Purchases of property, plant, and equipment (41.3) (33.4)
Other 0.1 0.0
Net cash used in investing activities (41.2) (33.4)
Cash flows from financing activities:    
Borrowings from senior secured credit facility, net of discount 82.0 270.0
Principal payments on senior secured credit facility and other debt (89.3) (125.2)
Share repurchases (116.2) (645.0)
Other 1.1 1.0
Net cash used in provided by financing activities (122.4) (499.2)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 1.3 (11.2)
Net change in cash, cash equivalents, and restricted cash (31.8) (433.7)
Cash, cash equivalents, and restricted cash, beginning of period 610.4 1,054.0
Cash, cash equivalents, and restricted cash, end of period $ 578.6 $ 620.3

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