v3.25.4
Consolidated statements of cash flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net (loss) income $ (530.2) $ 711.5 $ 321.1
Reconciling adjustments:      
Amortization 410.2 405.5 402.3
Impairment charges 785.0 0.0 160.8
Gain on sale of business 5.1 (446.6) 0.0
Stock-based compensation expense 46.4 46.8 40.5
Non-cash restructuring charges (see note 12) 3.2 16.9 0.0
Provision for accounts receivable and inventory 63.7 75.1 84.5
Deferred income tax expense (benefit) 7.7 (46.9) (172.4)
Amortization of deferred financing costs 8.5 11.2 13.0
Loss on extinguishment of debt 4.6 10.9 6.9
Foreign currency remeasurement loss (gain) 1.7 (0.3) (2.6)
Pension termination charges 18.1 9.3 0.0
Changes in assets and liabilities:      
Accounts receivable 13.6 45.9 77.0
Inventory (109.4) (18.5) 30.3
Accounts payable 42.4 59.6 (139.6)
Accrued interest (1.3) (1.6) 0.3
Other assets and liabilities (144.2) (37.7) 48.6
Other (1.3) (0.3) (0.7)
Net cash provided by operating activities 623.8 840.8 870.0
Cash flows from investing activities:      
Capital expenditures (128.8) (148.8) (146.4)
Proceeds from sale of disposal group, net of cash sold 0.0 585.2 0.0
Other (1.7) 2.5 2.7
Net cash (used in) provided by investing activities (130.5) 438.9 (143.7)
Cash flows from financing activities:      
Debt borrowings 1,107.6 0.0 0.0
Debt repayments (1,426.3) (1,341.8) (846.0)
Payments of debt refinancing fees (15.1) 0.0 (2.3)
Proceeds received from exercise of stock options 5.1 69.2 18.3
Proceeds received from exercise of stock options (5.6) (8.6) (13.7)
Payments for repurchase of common stock (75.1) 0.0 0.0
Net cash used in financing activities (409.4) (1,281.2) (843.7)
Effect of currency rate changes on cash and cash equivalents 19.7 (21.5) 8.2
Net change in cash, cash equivalents and restricted cash 103.6 (23.0) (109.2)
Cash, cash equivalents and restricted cash, beginning of year 264.7 287.7 396.9
Cash, cash equivalents and restricted cash, end of year $ 368.3 $ 264.7 $ 287.7