v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net income (loss) $ 815.8 $ (289.3)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 153.2 202.5
Equity-based compensation 16.6 12.8
Deferred income taxes 1.3 5.9
Asset impairments 0.0 17.2
(Gain) loss on disposal of discontinued operations (869.2) 21.9
Changes in assets and liabilities:    
Accounts receivable (238.5) (190.7)
Inventories (90.0) 46.7
Prepaid expenses and other assets (76.1) (101.6)
Accounts payable and other liabilities 125.9 129.4
Other 51.2 18.3
Net cash used in operating activities (109.8) (126.9)
Investing Activities:    
Additions to property, plant and equipment (28.1) (11.3)
Proceeds from sale of property, plant and equipment 10.0 0.2
Net proceeds from divestitures 2,041.8 0.0
Acquisition of a business 0.0 (45.1)
Other 0.0 8.6
Net cash generated by (used in) investing activities 2,023.7 (47.6)
Financing Activities:    
Long-term debt repaid (2,049.0) (16.0)
Long-term debt proceeds 50.0 0.0
Debt issuance costs (5.7) 0.0
Tax withholding payments for vested equity-based compensation awards (10.9) (1.8)
Net cash used in financing activities (2,015.6) (17.8)
Effect of exchange rate changes on cash and cash equivalents 9.5 (5.6)
Change in cash and cash equivalents (92.2) (197.9)
Cash and cash equivalents at beginning of period 663.3 543.8
Cash and cash equivalents at end of period $ 571.1 $ 345.9