Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 45.6 $ 96.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24.2 24.4
Share-based compensation expenses 10.3 10.6
Non-cash interest expense 6.3 13.9
Deferred income taxes 7.4 0.4
Inventory write-downs 3.6 5.3
Foreign exchange transaction loss 8.5 4.5
Other (5.0) (6.8)
Changes in operating assets and liabilities:    
Receivables (7.8) (23.1)
Inventories (7.4) (27.9)
Prepaid expenses and other current assets (18.1) 26.9
Accounts payable 2.9 2.0
Royalty overrides (22.9) (21.5)
Other current liabilities 92.9 (72.2)
Other 1.2 5.7
Net cash provided by operating activities 141.7 38.5
Cash flows from investing activities:    
Purchases of property, plant, and equipment (24.4) (27.0)
Other 0.1  
Net cash used in investing activities (24.3) (27.0)
Cash flows from financing activities:    
Borrowings from senior secured credit facility, net of discount 30.2  
Principal payments on senior secured credit facility and other debt (5.3) (5.1)
Share repurchases (4.7) (7.6)
Other 0.8 0.8
Net cash provided by (used in) financing activities 21.0 (11.9)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (33.8) 4.4
Net change in cash, cash equivalents, and restricted cash 104.6 4.0
Cash, cash equivalents, and restricted cash, beginning of period 847.5 1,215.0
Cash, cash equivalents, and restricted cash, end of period $ 952.1 $ 1,219.0