Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 277.3 $ 160.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 73.8 72.6
Share-based compensation expenses 32.6 30.3
Non-cash interest expense 44.8 42.0
Deferred income taxes (4.1) (38.4)
Inventory write-downs 17.7 16.7
Foreign exchange transaction loss (gain) 4.0 (1.4)
Other (1.1) (3.8)
Changes in operating assets and liabilities:    
Receivables (22.5) (14.6)
Inventories 29.2 (56.7)
Prepaid expenses and other current assets (3.6) (14.9)
Accounts payable (8.2) 17.5
Royalty overrides (6.7) 14.1
Other current liabilities (45.0) 24.3
Other 16.2 1.6
NET CASH PROVIDED BY OPERATING ACTIVITIES 404.4 249.9
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (67.9) (111.9)
Other (2.8) 4.4
NET CASH USED IN INVESTING ACTIVITIES (70.7) (107.5)
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 (468.2) (233.0)
Debt issuance costs (22.6)  
Share repurchases (346.2) (12.5)
Other 1.6 4.2
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 438.6 (241.3)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 20.0 (2.6)
NET CHANGE IN CASH AND CASH EQUIVALENTS 792.3 (101.5)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 844.0 889.8
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 1,636.3 $ 788.3