v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 625.8 $ (172.0)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 187.3 189.4
Amortization of intangibles 54.0 54.4
Stock compensation expense 25.0 21.3
Impairment charges 7.3 5.3
Loss on sale of business 12.3 497.8
Gain on sale of investment in affiliate (251.9) 0.0
Equity in net earnings of affiliates, net of cash received (30.0) (37.3)
Deferred income tax benefit (348.8) (30.7)
Other 23.4 24.9
Changes in operating assets and liabilities:    
Accounts and notes receivable, net 81.1 (102.4)
Inventories, net (113.4) (221.1)
Other current and noncurrent assets (29.2) (79.7)
Accounts payable 98.6 (77.4)
Accrued expenses (241.4) (286.2)
Other current and noncurrent liabilities 124.4 105.7
Total adjustments (401.3) 64.0
Net cash provided by (used in) operating activities 224.5 (108.0)
Cash flows from investing activities:    
Purchases of property, plant and equipment (159.3) (279.3)
Proceeds from sale of property, plant and equipment 1.7 1.8
Purchase of businesses, net of cash acquired 0.0 (1,902.2)
Proceeds from sale of business (12.3) 0.0
Sale of (investments in) unconsolidated affiliates, net 258.8 (1.6)
Other (7.7) (0.2)
Net cash provided by (used in) investing activities 81.2 (2,181.5)
Cash flows from financing activities:    
Proceeds from indebtedness 481.6 2,624.6
Repayments of indebtedness (458.0) (2.3)
Payment of dividends to stockholders (64.9) (251.5)
Payment of minimum tax withholdings on stock compensation (11.4) (11.9)
Payment of debt issuance costs 0.0 (15.7)
Investments by noncontrolling interests, net 0.0 8.1
Net cash provided by (used in) financing activities (52.7) 2,351.3
Effects of exchange rate changes on cash, cash equivalents and restricted cash 18.4 (14.7)
Increase in cash, cash equivalents and restricted cash 271.4 47.1
Cash, cash equivalents and restricted cash, beginning of period 612.7 595.5
Cash, cash equivalents and restricted cash, end of period [1] $ 884.1 $ 642.6
[1] Includes $20.0 million of cash and cash equivalents classified as held for sale as of September 30, 2024.