v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 268.5 $ 192.2 $ 264.4
Adjustment to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 275.6 303.1 316.5
Amortization of deferred financing costs and original issue discount 8.5 9.6 8.9
Debt extinguishment and refinancing-related costs 9.9 14.7 0.2
Deferred income taxes (8.4) (3.4) 15.0
Realized and unrealized foreign exchange losses, net 21.4 15.5 10.1
Stock-based compensation 26.2 22.2 14.9
Impairment charges 15.3 0.7 0.8
Gains on sales of facilities (0.3) (1.5) (19.7)
Interest income on swaps designated as net investment hedges (9.6) (19.9) (18.0)
Commercial agreement restructuring charge 0.0 25.0 0.0
Other non-cash, net 21.7 7.0 10.9
Changes in operating assets and liabilities:      
Trade accounts and notes receivable (119.0) (171.0) (80.5)
Inventories 103.1 (195.4) (111.6)
Prepaid expenses and other assets (70.7) (80.5) (45.3)
Accounts payable 9.4 138.0 140.1
Other accrued liabilities 29.3 44.7 66.2
Other liabilities (5.6) (7.2) (14.3)
Cash provided by operating activities 575.3 293.8 558.6
Investing activities:      
Acquisitions, net of cash acquired (106.3) (3.0) (649.0)
Purchase of property, plant and equipment (137.9) (150.9) (121.6)
Proceeds from sales of assets 0.3 3.7 37.8
Interest proceeds on swaps designated as net investment hedges 9.6 19.9 18.0
Settlement proceeds on swaps designated as net investment hedges 29.4 25.0 0.0
Other investing activities, net (0.8) (1.1) (1.2)
Cash used for investing activities (205.7) (106.4) (716.0)
Financing activities:      
Proceeds from short-term borrowings 8.8 0.0 0.0
Proceeds from long-term borrowings 697.4 1,980.0 0.0
Payments on short-term borrowings (49.8) (91.1) (74.0)
Payments on long-term borrowings (904.3) (2,041.9) (26.9)
Financing-related costs (16.6) (15.2) (3.0)
Net cash flows associated with stock-based awards 7.5   14.4
Net cash flows associated with stock-based awards   (0.3)  
Purchases of common stock (50.0) (200.1) (243.8)
Deferred acquisition-related consideration (7.7) 0.0 (0.5)
Other financing activities, net (0.3) (0.3) (0.7)
Cash used for financing activities (315.0) (368.9) (334.5)
Increase (decrease) in cash and cash equivalents 54.6 (181.5) (491.9)
Effect of exchange rate changes on cash (6.4) (14.8) (20.9)
Cash at beginning of period 654.9 851.2 1,364.0
Cash at end of period 703.1 654.9 851.2
Cash at end of period reconciliation:      
Cash and cash equivalents 699.8 645.2 840.6
Restricted cash 3.3 9.7 10.6
Cash at end of period 703.1 654.9 851.2
Cash paid during the year for:      
Interest, net of amounts capitalized 212.5 126.8 118.1
Income taxes, net of refunds 96.7 63.0 57.9
Non-cash investing activities:      
Accrued capital expenditures $ 12.8 $ 32.4 $ 35.1

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