| Cash flows from operating activities: |
|
|
|
| Net income (loss) |
203.7 |
75.7 |
92.9 |
| Net income (loss) from discontinued operations, net of tax |
0.3 |
(1.1) |
13.3 |
| Net loss from continuing operations |
203.4 |
76.8 |
79.6 |
| |
|
|
|
| Reconciliations of net (loss) income to net cash flows (used in) provided by operating
activities: |
|
|
|
| Depreciation and amortization |
163.9 |
161.4 |
154.7 |
| Deferred income taxes |
(46.7) |
(53.0) |
(3.1) |
| Foreign exchange (gain) loss |
(6.9) |
29.3 |
(54.6) |
| Other, net |
58.1 |
67.3 |
66.9 |
| Changes in assets and liabilities, net of acquisitions: |
|
|
|
| Accounts receivable |
(48.7) |
(27.3) |
21.8 |
| Inventories |
(46.5) |
1.4 |
(3.8) |
| Accounts payable |
16.8 |
(5.3) |
(7.0) |
| Accrued expenses |
42.6 |
26.1 |
(57.7) |
| Prepaid expenses and other current assets |
(25.1) |
(9.6) |
(2.9) |
| Other assets and liabilities |
15.1 |
8.9 |
(23.0) |
| Net cash flows used in operating activities of continuing operations |
326.0 |
276.0 |
170.9 |
| |
|
|
|
| Cash flows from investing activities: |
|
|
|
| Capital expenditures |
(46.3) |
(28.8) |
(29.7) |
| Proceeds from disposal of property, plant and equipment |
— |
1.7 |
4.6 |
| Proceeds from the Arysta Sale (net of cash $148.7 million) |
— |
— |
4,281.8 |
| Proceeds from the sale of equity investment |
— |
— |
— |
| Acquisition of business, net of cash acquired |
(536.5) |
(9.0) |
(63.9) |
| Other, net |
13.9 |
(3.8) |
6.9 |
| Net cash flows used in investing activities of continuing operations |
(568.9) |
(39.9) |
4,199.7 |
| |
|
|
|
| Cash flows from financing activities: |
|
|
|
| Debt proceeds, net of discount and premium |
398.0 |
800.0 |
1,493.4 |
| Repayments of borrowings |
(10.0) |
(807.9) |
(5,351.4) |
| Change in lines of credit, net |
— |
— |
(24.9) |
| Repurchases of common stock |
(19.6) |
(55.7) |
(507.1) |
| Dividends paid |
(61.9) |
(12.4) |
— |
| Payment of financing fees |
(5.1) |
(46.2) |
(40.5) |
| Other, net |
(11.4) |
(1.4) |
(8.4) |
| Net cash flows used in financing activities of continuing operations |
290.0 |
(123.6) |
(4,438.9) |
| |
|
|
|
| Cash flows from discontinued operations: |
|
|
|
| Net cash flows (used in) provided by operating activities of discontinued operations |
(3.5) |
(14.7) |
(161.7) |
| Net cash flows used in investing activities of discontinued operations |
— |
— |
(5.0) |
| Net cash flows provided by (used in) financing activities of discontinued operations |
— |
— |
4.8 |
| Net cash flows (used in) provided by discontinued operations |
(3.5) |
(14.7) |
(161.9) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
(5.4) |
4.0 |
4.8 |
| Net (decrease) increase in cash, cash equivalents and restricted cash |
38.2 |
101.8 |
(225.4) |
| Cash, cash equivalents and restricted cash at beginning of period |
291.9 |
190.1 |
415.5 |
| Cash, cash equivalents and restricted cash at end of period |
330.1 |
291.9 |
190.1 |
| |
|
|
|
| Supplemental disclosure information of continuing operations: |
|
|
|
| Cash paid for interest |
50.6 |
51.8 |
125.4 |
| Cash paid for income taxes |
71.2 |
66.5 |
71.2 |