Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 160.6 $ 254.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 72.6 72.6
Excess tax benefits from share-based payment arrangements (5.1) (1.5)
Share-based compensation expenses 30.3 34.2
Non-cash interest expense 42.0 39.8
Deferred income taxes (38.4) (1.5)
Inventory write-downs 16.7 22.3
Foreign exchange transaction gain (1.4) (11.9)
Foreign exchange loss and other charges relating to Venezuela 4.4 37.2
Other (8.2) 8.9
Changes in operating assets and liabilities:    
Receivables (14.6) (25.1)
Inventories (56.7) (3.2)
Prepaid expenses and other current assets 7.0 0.4
Other assets (1.9) (16.8)
Accounts payable 17.5 18.3
Royalty overrides 14.1 5.6
Accrued expenses and accrued compensation 11.9 61.7
Advance sales deposits 21.2 23.3
Income taxes (24.8) (26.6)
Deferred compensation plan liability 2.7 0.9
NET CASH PROVIDED BY OPERATING ACTIVITIES 249.9 493.2
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (111.9) (57.5)
Other 4.4 6.2
NET CASH USED IN INVESTING ACTIVITIES (107.5) (51.3)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on senior secured credit facility and other debt (233.0) (202.6)
Issuance costs relating to long-term debt   (6.2)
Share repurchases (12.5) (10.7)
Excess tax benefits from share-based payment arrangements 5.1 1.5
Other (0.9) 0.1
NET CASH USED IN FINANCING ACTIVITIES (241.3) (217.9)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (2.6) (56.2)
NET CHANGE IN CASH AND CASH EQUIVALENTS (101.5) 167.8
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 889.8 645.4
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 788.3 $ 813.2