v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income (loss) $ 21.0 $ (3.2)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 55.1 38.6
Stock-based compensation 8.4 6.8
Deferred income taxes 7.2 (0.9)
Provision for allowances, claims, and doubtful accounts 3.2 2.0
Impairment charges on assets 0.9 1.8
Gain on insurance settlement (0.6)  
Pension settlement gain (0.5) (0.5)
Non-cash (gain) loss from derivatives 0.7 (3.9)
Other items (0.8) (0.9)
Change in operating assets and liabilities:    
Receivables (269.6) (104.6)
Inventories (93.3) 12.1
Other assets and liabilities (20.0) 3.2
Accounts payable 66.5 51.9
Accrued liabilities 26.9 0.2
Accrued taxes payable/receivable 4.2 (10.6)
Deferred employee benefit costs (4.9) (11.1)
Tenant improvement allowance 1.5 1.7
Net increase in book overdrafts 36.3 15.0
Net adjustments (178.8) 0.8
Net cash used in operating activities (157.8) (2.4)
Investing activities:    
Acquisitions, net of cash acquired (270.0)  
Capital expenditures (28.5) (17.9)
Proceeds from sale of property, plant, and equipment 5.5 0.3
Proceeds from insurance settlement 0.8 0.6
Other items (0.3) (4.0)
Net cash used in investing activities (292.5) (21.0)
Financing activities:    
Proceeds from borrowings 942.2 358.6
Payments made on borrowings (442.6) (316.4)
Credit facility issuance costs (8.3)  
Principal payments on finance lease obligations (3.3) (2.8)
Dividends paid to shareholders (19.4) (12.0)
Share repurchases (2.4)  
Proceeds from exercise of common stock options 0.4  
Contingent payments related to acquisitions   (1.6)
Proceeds from finance lease obligations 0.4 2.2
Tax withholdings on stock-based compensation awards (1.4) (2.6)
Net cash provided by financing activities 465.6 25.4
Net increase in cash, cash equivalents, and restricted cash 15.3 2.0
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 0.2 0.9
Net change in cash, cash equivalents, and restricted cash 15.5 2.9
Cash, cash equivalents, and restricted cash—beginning of period 27.8 29.3
Cash, cash equivalents, and restricted cash—end of period 43.3 32.2
Cash paid during the period for:    
Interest paid to third parties, net 20.1 19.1
Income taxes, net 2.8 2.9
Noncash investing activities:    
Asset additions under operating leases 4.8 15.2
Asset additions under finance leases $ 0.5 $ 2.4