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
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 72.9 $ 161.0
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47.9 48.0
Excess tax benefits from share-based payment arrangements (2.1) (1.5)
Share-based compensation expenses 20.5 23.9
Non-cash interest expense 28.7 25.5
Deferred income taxes (21.2) (2.5)
Inventory write-downs 11.2 17.7
Foreign exchange transaction gain (2.9) (12.3)
Foreign exchange loss and other charges relating to Venezuela 4.8 36.9
Other (5.9) 9.3
Changes in operating assets and liabilities:    
Receivables (20.4) (24.4)
Inventories (0.2) 16.5
Prepaid expenses and other current assets 5.7 6.4
Other assets (5.2) (10.1)
Accounts payable 17.4 16.8
Royalty overrides (1.4) (9.3)
Accrued expenses and accrued compensation 219.3 50.1
Advance sales deposits 37.3 31.8
Income taxes (40.8) (26.6)
Deferred compensation plan liability 2.4 1.5
NET CASH PROVIDED BY OPERATING ACTIVITIES 368.0 358.7
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (86.9) (39.9)
Other 4.5 5.6
NET CASH (USED IN) INVESTING ACTIVITIES (82.4) (34.3)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on senior secured credit facility and other debt (229.7) (163.8)
Issuance costs relating to long-term debt   (6.2)
Share repurchases (4.5) (9.1)
Excess tax benefits from share-based payment arrangements 2.1 1.5
Other (1.4) 0.9
NET CASH (USED IN) FINANCING ACTIVITIES (233.5) (176.7)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (5.2) (43.5)
NET CHANGE IN CASH AND CASH EQUIVALENTS 46.9 104.2
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 889.8 645.4
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 936.7 $ 749.6