v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 147.4 $ 45.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26.4 24.2
Share-based compensation expenses 13.3 10.3
Non-cash interest expense 7.1 6.3
Deferred income taxes 8.3 7.4
Inventory write-downs 9.5 3.6
Foreign exchange transaction loss 0.3 8.5
Other (1.1) (5.0)
Changes in operating assets and liabilities:    
Receivables (21.9) (7.8)
Inventories (31.5) (7.4)
Prepaid expenses and other current assets (15.7) (18.1)
Accounts payable 23.4 2.9
Royalty overrides (8.4) (22.9)
Other current liabilities (52.0) 92.9
Other 5.0 1.2
Net cash provided by operating activities 110.1 141.7
Cash flows from investing activities:    
Purchases of property, plant, and equipment (33.4) (24.4)
Other 0.0 0.1
Net cash used in investing activities (33.4) (24.3)
Cash flows from financing activities:    
Borrowings from senior secured credit facility, net of discount 270.0 30.2
Principal payments on senior secured credit facility and other debt (125.2) (5.3)
Share repurchases (645.0) (4.7)
Other 1.0 0.8
Net cash (used in) provided by financing activities (499.2) 21.0
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (11.2) (33.8)
Net change in cash, cash equivalents, and restricted cash (433.7) 104.6
Cash, cash equivalents, and restricted cash, beginning of period 1,054.0 847.5
Cash, cash equivalents, and restricted cash, end of period $ 620.3 $ 952.1

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