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
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 85.2 $ 95.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24.5 23.9
Share-based compensation expenses 11.3 9.8
Non-cash interest expense 14.4 15.6
Deferred income taxes (3.2) (3.2)
Inventory write-downs 4.6 7.3
Foreign exchange transaction gain (0.4) (0.7)
Other (1.0) 1.1
Changes in operating assets and liabilities:    
Receivables (27.9) (17.3)
Inventories 7.3 (2.6)
Prepaid expenses and other current assets 25.1 5.4
Accounts payable 5.0 2.8
Royalty overrides (18.8) (10.4)
Other current liabilities 44.6 8.3
Other 4.8 5.3
NET CASH PROVIDED BY OPERATING ACTIVITIES 175.5 141.1
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (24.5) (29.7)
Other (1.2) 4.1
NET CASH USED IN INVESTING ACTIVITIES (25.7) (25.6)
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 (413.4) (229.7)
Debt issuance costs (22.6)  
Share repurchases (58.1) (2.3)
Other 0.6 (1.7)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 780.5 (233.7)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 8.6 2.6
NET CHANGE IN CASH AND CASH EQUIVALENTS 938.9 (115.6)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 844.0 889.8
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 1,782.9 $ 774.2