v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 291.6 $ 160.7
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 53.5 49.9
Share-based compensation expenses 27.9 22.5
Non-cash interest expense 14.4 12.8
Deferred income taxes 7.3 9.7
Inventory write-downs 13.2 8.1
Foreign exchange transaction loss 9.4 7.1
Loss on extinguishment of debt 24.6 0.0
Other (0.2) 1.2
Changes in operating assets and liabilities:    
Receivables (25.5) (33.7)
Inventories (57.0) (19.4)
Prepaid expenses and other current assets (29.6) (18.4)
Accounts payable 16.8 9.5
Royalty overrides (7.0) 29.5
Other current liabilities (53.8) 140.3
Other 1.3 5.2
Net cash provided by operating activities 286.9 385.0
Cash flows from investing activities:    
Purchases of property, plant, and equipment (68.4) (49.6)
Other 0.0 0.2
Net cash used in investing activities (68.4) (49.4)
Cash flows from financing activities:    
Borrowings from senior secured credit facility, net of discount 345.0 30.2
Principal payments on senior secured credit facility and other debt (205.5) (10.6)
Proceeds from senior notes 600.0 600.0
Repayment of senior notes 420.7 0.0
Debt issuance costs (7.4) (6.8)
Share repurchases (733.2) (26.0)
Other 2.0 1.6
Net cash (used in) provided by financing activities (419.8) 588.4
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (6.4) (23.4)
Net change in cash, cash equivalents, and restricted cash (207.7) 900.6
Cash, cash equivalents, and restricted cash, beginning of period 1,054.0 847.5
Cash, cash equivalents, and restricted cash, end of period $ 846.3 $ 1,748.1

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