CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Millions |
12 Months Ended |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
| Cash flows from operating activities: |
|
|
|
| Net (loss) earnings |
$ (140.8)
|
$ (314.0)
|
$ (369.6)
|
| Adjustments to reconcile net (loss) earnings to net cash (used by) provided by operating activities: |
|
|
|
| Depreciation |
57.1
|
60.4
|
|
| Amortization |
145.8
|
156.6
|
279.8
|
| Deferred income taxes |
(13.8)
|
(40.3)
|
(85.9)
|
| Amortization of debt discount and issuance costs |
27.9
|
25.5
|
52.0
|
| Gain on sale of business |
0.0
|
(6.9)
|
(33.2)
|
| Changes in operating working capital |
(36.4)
|
(110.0)
|
46.8
|
| Other |
17.7
|
6.8
|
(4.0)
|
| Net cash provided (used for) by operating activities |
57.5
|
(221.9)
|
(49.6)
|
| Cash flows from investing activities: |
|
|
|
| Capital expenditures |
(47.6)
|
(64.6)
|
(36.7)
|
| Investments in capitalized software |
(22.7)
|
(41.2)
|
(7.7)
|
| Proceeds from disposition of property, plant and equipment |
5.0
|
18.0
|
0.0
|
| Acquisition of business, net of cash acquired |
0.0
|
(124.3)
|
(211.4)
|
| Proceeds from sale of business |
0.0
|
4.4
|
1,244.0
|
| Collection of note receivable |
0.0
|
0.0
|
59.7
|
| Other |
0.0
|
0.0
|
10.2
|
| Net cash (used for) provided by investing activities |
(65.3)
|
(207.7)
|
1,058.1
|
| Cash flows from financing activities: |
|
|
|
| Borrowings from ABL revolving credit facility |
491.8
|
565.1
|
500.0
|
| Repayment from Revolving Credit Facility |
(591.2)
|
(320.0)
|
(500.0)
|
| Proceeds from the issuance of PIK notes |
0.0
|
0.0
|
482.5
|
| Proceeds from term loan, net of discount |
0.0
|
0.0
|
325.0
|
| Proceeds from issuance of 10.00% Notes, net of discount |
114.2
|
0.0
|
0.0
|
| Repayments of term loan |
0.0
|
0.0
|
(575.0)
|
| Debt issuance and related costs |
0.0
|
0.0
|
(39.6)
|
| Dividends to JV Holdings |
0.0
|
0.0
|
(1,024.0)
|
| Settlement of contingent consideration |
0.0
|
0.0
|
(43.0)
|
| Net cash provided by (used for) financing activities |
14.8
|
245.1
|
(874.1)
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
1.4
|
11.6
|
14.2
|
| Increase (decrease) in cash, cash equivalents and restricted cash |
8.4
|
(172.9)
|
148.6
|
| Beginning cash, cash equivalents and restricted cash |
225.3
|
398.2
|
249.6
|
| Ending cash, cash equivalents and restricted cash |
233.7
|
225.3
|
398.2
|
| Changes in operating working capital |
|
|
|
| Accounts Receivable |
39.8
|
(139.6)
|
(106.8)
|
| Inventories |
85.5
|
(73.7)
|
1.2
|
| Other current assets |
(41.6)
|
(66.5)
|
5.0
|
| Accounts payable |
(140.8)
|
101.9
|
57.3
|
| Accrued expenses |
34.8
|
50.2
|
47.5
|
| Income taxes |
(14.1)
|
17.7
|
42.6
|
| Total changes in operating working capital |
(36.4)
|
(110.0)
|
46.8
|
| Supplemental cash flow information |
|
|
|
| Cash paid during the year for interest |
271.5
|
259.6
|
213.1
|
| Cash paid during the year for income tax, net |
48.7
|
58.0
|
72.6
|
| Property and equipment acquired through capital lease obligations |
$ 1.8
|
$ 4.2
|
$ 0.0
|