v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (34.7) $ (28.4)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 83.5 72.8
Asset impairment 0.0 19.3
Stock-based compensation 10.4 11.0
Loss on extinguishment of debt 2.6 0.0
Unrealized loss (gain) on derivative contracts 31.7 (8.5)
Other, net (6.1) 2.7
Changes in operating assets and liabilities, net of acquisitions:    
Receivables (50.6) (10.5)
Inventories (50.5) (60.6)
Prepaid expenses and other assets (25.3) (6.9)
Accounts payable (75.6) (47.1)
Accrued expenses and other liabilities 13.9 (15.6)
Net cash used in operating activities (100.7) (71.8)
Cash flows from investing activities:    
Capital expenditures (54.0) (51.1)
Proceeds from sales of fixed assets 4.8 1.4
Acquisition, net of cash acquired (209.3) 0.0
Net cash used in investing activities (258.5) (49.7)
Cash flows from financing activities:    
Borrowings under Revolving Credit Facility 1,409.5 9.5
Payments under Revolving Credit Facility (1,304.5) (9.5)
Payments on financing lease obligations (1.2) (0.3)
Payment of deferred financing costs (3.7) 0.0
Payments on Term Loans (906.0) 0.0
Proceeds from refinanced Term Loans 899.2 0.0
Repurchases of common stock 0.0 (88.7)
Payments related to stock-based award activities (4.1) (3.9)
Net cash provided by (used in) financing activities 89.2 (92.9)
Effect of exchange rate changes on cash and cash equivalents (2.5) (0.1)
Net decrease in cash and cash equivalents (272.5) (214.5)
Cash and cash equivalents, beginning of period 289.6 320.3
Cash and cash equivalents, end of period 17.1 105.8
Supplemental cash flow disclosures:    
Interest paid 46.1 42.5
Net income taxes paid 16.7 6.6
Non-cash investing and financing activities:    
Capital expenditures incurred but not yet paid 14.4 22.3
Right-of-use assets obtained in exchange for lease obligations 44.9 0.3
Preliminary purchase price adjustment for private brand tea business acquisition 2.0 0.0
Accrued deferred financing costs $ 0.2 $ 0.0