Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 222.8 $ 72.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 48.6 47.9
Share-based compensation expenses 22.7 20.5
Non-cash interest expense 29.5 28.7
Deferred income taxes 0.7 (21.2)
Inventory write-downs 11.2 11.2
Foreign exchange transaction loss (gain) 0.9 (2.9)
Other (3.3) (1.1)
Changes in operating assets and liabilities:    
Receivables (17.8) (20.4)
Inventories 5.2 (0.2)
Prepaid expenses and other current assets 6.0 (14.7)
Accounts payable 10.3 17.4
Royalty overrides (23.3) (1.4)
Other current liabilities (48.7) 236.4
Other 12.3 (5.1)
NET CASH PROVIDED BY OPERATING ACTIVITIES 277.1 368.0
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (45.9) (86.9)
Other (1.6) 4.5
NET CASH USED IN INVESTING ACTIVITIES (47.5) (82.4)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from senior secured credit facility, net of discount 1,274.0  
Principal payments on senior secured credit facility and other debt (441.3) (229.7)
Debt issuance costs (22.6)  
Share repurchases (273.6) (4.5)
Other 1.0 0.7
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 537.5 (233.5)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 13.0 (5.2)
NET CHANGE IN CASH AND CASH EQUIVALENTS 780.1 46.9
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 844.0 889.8
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 1,624.1 $ 936.7