Consolidated Statements of Cash Flows - USD ($)
$ in Millions |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Cash flows from operating activities: |
|
|
| Net income including noncontrolling interest |
$ 31.3
|
$ 31.1
|
| Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
18.8
|
22.6
|
| Provision for bad debt |
1.8
|
2.5
|
| Share-based payment award compensation costs |
4.2
|
4.1
|
| Deferred income tax benefit |
(7.1)
|
(6.3)
|
| Foreign currency losses (gains), net |
2.6
|
(3.0)
|
| Other |
0.7
|
(0.9)
|
| Changes in assets and liabilities, net of acquisitions: |
|
|
| Accounts receivable, net (reduced by beneficial interests received in exchange for accounts receivables sold of $121.3 million and $74.0 million for the three months ended March 31, 2018 and 2017, respectively.) |
(71.2)
|
56.7
|
| Inventories |
(84.8)
|
0.7
|
| Prepaid expenses |
6.1
|
(0.2)
|
| Short-term derivative assets, net |
(2.8)
|
10.1
|
| Other current assets |
(25.5)
|
21.0
|
| Cash collateral with financial counterparties |
21.2
|
15.8
|
| Other non-current assets |
(28.4)
|
4.1
|
| Accounts payable |
(50.9)
|
(44.7)
|
| Customer deposits |
(5.3)
|
7.3
|
| Accrued expenses and other current liabilities |
(30.2)
|
(54.6)
|
| Non-current income tax, net and other long-term liabilities |
(9.3)
|
(2.1)
|
| Total adjustments |
(260.1)
|
33.1
|
| Net cash (used in) provided by operating activities |
(228.8)
|
64.1
|
| Cash flows from investing activities: |
|
|
| Cash receipts of retained beneficial interests in receivable sales |
120.0
|
72.8
|
| Acquisition of businesses, net of cash acquired |
(22.0)
|
(88.1)
|
| Capital expenditures |
(15.4)
|
(10.0)
|
| Other investing activities, net |
3.6
|
0.2
|
| Net cash provided by (used in) investing activities |
86.1
|
(25.1)
|
| Cash flows from financing activities: |
|
|
| Borrowings of debt |
1,468.9
|
818.8
|
| Repayments of debt |
(1,545.1)
|
(922.5)
|
| Dividends paid on common stock |
(4.0)
|
(4.1)
|
| Purchases of common stock |
0.0
|
(11.1)
|
| Other financing activities, net |
(0.5)
|
(1.3)
|
| Net cash used in financing activities |
(80.8)
|
(120.2)
|
| Effect of exchange rate changes on cash and cash equivalents |
4.1
|
1.8
|
| Net decrease in cash and cash equivalents |
(219.4)
|
(79.3)
|
| Cash and cash equivalents, as of beginning of period |
372.3
|
698.6
|
| Cash and cash equivalents, as of end of period |
$ 152.9
|
$ 619.3
|