v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities of continuing operations:        
Net income $ 69.2 $ 27.6 $ 96.5 $ 56.3
Less: Net loss from discontinued operations, net of income taxes 0.0 (2.9) 0.0 (8.9)
Net income from continuing operations 69.2 30.5 96.5 65.2
Adjustments to reconcile net income from continuing operations to cash flows from operating activities of continuing operations:        
Depreciation and amortization 142.2 145.3 283.2 273.9
Amortization of debt discount and issuance costs 6.3 7.6 15.1 13.7
Stock-based compensation costs 11.1 12.9 21.0 24.9
Restructuring (gains) charges, net (4.5) 2.4 (8.7) 2.9
Inventory obsolescence expense 3.8 6.0 6.6 7.2
Charge for expected credit losses 10.2 10.3 25.1 17.4
Deferred income taxes 2.4 1.8 6.1 (0.8)
Unrealized loss (gain) on commodity forwards, net 12.2 (0.9) (18.9) (2.0)
Other non-cash items 10.8 (15.5) 13.5 (12.9)
Changes in operating assets and liabilities, net of effects of businesses acquired:        
Trade receivables (53.1) (91.9) (171.9) (159.0)
Inventories (13.3) (3.4) (39.1) (49.1)
Prepaid expenses and other current and non-current assets (16.0) (34.9) (9.3) (0.3)
Trade payables and accruals and other current and non-current liabilities 46.6 84.8 112.5 12.7
Net cash provided by operating activities of continuing operations 227.9 155.0 331.7 193.8
Cash flows from investing activities of continuing operations:        
Purchases of property, plant and equipment (85.5) (53.9) (190.0) (115.9)
Purchases of intangible assets (19.1) (17.7) (32.7) (25.2)
Acquisitions, net of cash received (9.1) (5.7) (20.0) (5.7)
Proceeds from sale of property, plant and equipment 16.8 3.3 33.4 3.4
Proceeds from sale of other assets 0.0 11.3 0.0 56.9
Other investing activities 13.0 12.1 14.4 12.7
Net cash used in investing activities of continuing operations (83.9) (50.6) (194.9) (73.8)
Cash flows from financing activities of continuing operations:        
Proceeds from Term Loans, net of discount 0.0 0.0 659.6 0.0
Repayment of Term Loans (7.7) (7.8) (660.4) (15.5)
Principal payment of finance leases (9.8) (8.6) (19.5) (15.8)
Financing fees (0.1) (0.2) (2.8) (7.7)
Issuance of common stock 2.4 3.6 4.3 4.8
Common stock repurchased and cancelled (15.6) (101.8) (47.8) (221.0)
Dividends paid to common stockholders (43.5) (37.4) (87.7) (76.0)
Other financing activities 9.2 (1.8) 8.2 (3.6)
Net cash used in financing activities of continuing operations (65.1) (154.0) (146.1) (334.8)
Cash flows from discontinued operations:        
Net cash (used in) provided by operating activities from discontinued operations 0.0 (0.6) 0.0 2.3
Net cash provided by (used in) investing activities from discontinued operations 0.0 6.7 0.0 (1.3)
Net cash provided by financing activities from discontinued operations 0.0 1.0 0.0 3.4
Net cash provided by discontinued operations 0.0 7.1 0.0 4.4
Effect of exchange rates on cash, cash equivalents and restricted cash (0.3) 1.6 (0.8) 2.1
Net increase (decrease) in cash, cash equivalents and restricted cash 78.6 (40.9) (10.1) (208.3)
Cash and cash equivalents and restricted cash, beginning of period 288.2 453.3 376.9 620.7
Cash and cash equivalents and restricted cash, end of period 366.8 412.4 366.8 412.4
Cash and cash equivalents and restricted cash of discontinued operations, end of period 0.0 0.4 0.0 0.4
Cash and cash equivalents and restricted cash of continuing operations, end of period 366.8 412.0 366.8 412.0
Supplemental disclosure of non-cash investing and financing activities:        
Purchases of property, plant and equipment and intangible assets included in trade payables and accruals and other current liabilities 42.3 50.3 57.6 66.5
Dividends payable issued through accounts payable and accrued liabilities 0.5 0.4 0.9 0.7
Financing lease right-of-use assets obtained in exchange for lease obligations 6.5 18.3 13.6 32.3
Operating lease right-of-use assets obtained in exchange for lease obligations 14.3 14.7 31.9 35.5
Supplemental disclosure of cash flow information:        
Cash paid for interest, net of interest capitalized 100.6 65.9 148.3 153.0
Cash paid for income taxes $ 74.5 $ 52.8 $ 74.6 $ 54.4