v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 409.0 $ 298.8
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 80.1 74.3
Share-based compensation expenses 42.3 37.9
Non-cash interest expense 22.4 19.7
Deferred income taxes 2.9 10.5
Inventory write-downs 16.9 10.6
Foreign exchange transaction loss 10.5 14.3
Loss on extinguishment of debt 24.6 0.0
Other 1.0 2.1
Changes in operating assets and liabilities:    
Receivables (6.7) (37.6)
Inventories (92.2) (26.6)
Prepaid expenses and other current assets (68.1) (31.0)
Accounts payable 11.8 22.6
Royalty overrides (1.7) 55.3
Other current liabilities (86.2) 74.2
Other 8.3 (9.0)
Net cash provided by operating activities 374.9 516.1
Cash flows from investing activities:    
Purchases of property, plant, and equipment (104.5) (75.6)
Other 4.4 0.1
Net cash used in investing activities (108.9) (75.5)
Cash flows from financing activities:    
Borrowings from senior secured credit facility, net of discount 531.1 30.2
Principal payments on senior secured credit facility and other debt (416.0) (15.9)
Proceeds from senior notes 600.0 600.0
Repayment of senior notes (420.7) 0.0
Debt issuance costs (8.4) (7.8)
Share repurchases (909.2) (844.2)
Other 3.2 2.6
Net cash used in provided by financing activities (620.0) (235.1)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (13.0) (10.1)
Net change in cash, cash equivalents, and restricted cash (367.0) 195.4
Cash, cash equivalents, and restricted cash, beginning of period 1,054.0 847.5
Cash, cash equivalents, and restricted cash, end of period $ 687.0 $ 1,042.9

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