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
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 82.1 $ 85.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 25.6 24.5
Share-based compensation expenses 9.8 11.3
Non-cash interest expense 15.7 14.4
Deferred income taxes 3.3 (3.2)
Inventory write-downs 12.1 4.6
Foreign exchange transaction loss (gain) 0.5 (0.4)
Other 25.5 (1.0)
Changes in operating assets and liabilities:    
Receivables (16.1) (27.9)
Inventories 8.4 7.3
Prepaid expenses and other current assets (11.9) 25.1
Accounts payable 16.4 5.0
Royalty overrides (12.6) (18.8)
Other current liabilities (3.7) 44.6
Other 1.1 4.8
Net cash provided by operating activities 156.2 175.5
Cash flows from investing activities:    
Purchases of property, plant, and equipment (15.6) (24.5)
Other   0.1
Net cash used in investing activities (15.6) (24.4)
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 (24.5) (413.4)
Proceeds from senior convertible notes 550.0  
Repurchase of senior convertible notes (582.5)  
Debt issuance costs (11.7) (22.6)
Share repurchases (54.2) (58.1)
Proceeds from settlement of capped call transactions 27.1  
Other 0.6 0.6
Net cash (used in) provided by financing activities (95.2) 780.5
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 6.1 9.1
Net change in cash, cash equivalents, and restricted cash 51.5 940.7
Cash, cash equivalents, and restricted cash, beginning of period 1,295.5 857.0
Cash, cash equivalents, and restricted cash, end of period $ 1,347.0 $ 1,797.7