Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 2 Months Ended 4 Months Ended 12 Months Ended
Dec. 31, 2021
Oct. 19, 2021
Dec. 31, 2023
Dec. 31, 2022
Jun. 30, 2021
OPERATING ACTIVITIES:          
Net loss $ (23.0) $ (105.7) $ (98.7) $ (288.4) $ (158.4)
Adjustments to reconcile net loss to net cash provided by operating activities:          
Accrual of in-kind interest on notes payable to related parties 0.0 40.2 0.0 0.0 121.2
Depreciation and amortization expense 37.3 25.9 162.8 174.5 83.6
Stock-based compensation expense 5.3 9.3 21.9 31.8 0.0
Loss on debt extinguishment 0.0 15.9 2.6 0.0 0.0
Amortization of debt issuance costs 0.7 1.1 3.1 3.5 3.2
Provision for doubtful accounts (0.8) 0.3 1.8 0.3 2.1
Inventory obsolescence write down 0.3 0.0 2.3 0.9 0.7
Change in deferred income taxes (11.2) (8.4) (30.9) (37.2) (16.6)
Loss (gain) on disposal of property, plant and equipment 0.8 1.6 0.6 3.4 (0.1)
(Gain) loss on foreign currency transactions 1.6 (0.6) (0.3) 4.9 13.4
Increase (decrease) in fair values of warrant liabilities (1.2) 0.0 24.8 (37.6) 0.0
Amortization of deferred revenue step-down 2.3 4.5 0.0 0.0 8.0
Amortization of inventory step-up 15.8 0.0 0.0 6.3 5.2
Goodwill impairment 0.0 0.0 0.0 211.8 0.0
Gain (loss) on disposition of business 0.0 0.0 6.5 0.0 0.0
Other (0.1) 0.0 (0.6) 3.6 1.4
Changes in operating assets and liabilities:          
Accounts receivable (42.5) 18.2 (5.0) (14.8) (4.2)
Costs in excess of billings on uncompleted contracts 6.3 (5.7) 1.9 (4.5) (3.8)
Inventories 5.1 (10.2) (0.5) (34.8) (4.2)
Deferred cost of revenue (0.3) (0.4) 0.7 (0.8) 6.6
Prepaid expenses and other current assets (2.5) 2.6 (14.0) (2.4) (10.1)
Accounts payable (8.9) 19.2 (9.9) 4.5 2.6
Accrued expenses and other current liabilities (8.4) 0.4 2.6 5.5 (2.2)
Deferred contract revenue 10.6 4.5 23.9 6.9 (2.8)
Other assets (6.1) (2.2) 0.3 5.4 0.5
Other liabilities 6.7 2.6 (0.7) (3.4) 7.5
Net cash provided by (used in) operating activities (12.2) 13.1 95.2 39.4 53.6
INVESTING ACTIVITIES:          
Acquisition of Mirion, net of cash and cash equivalents acquired (2,124.8) 0.0 0.0 0.0 0.0
Acquisitions of businesses, net of cash and cash equivalents acquired (58.6) (0.9) (31.4) (6.6) (290.1)
Purchases of property, plant, and equipment and badges (6.0) (11.6) (37.1) (34.2) (23.2)
Sales of property, plant, and equipment 0.0 0.0 0.0 0.8 0.0
Proceeds from net investment hedge derivative contracts 0.0 0.0 3.8 0.5 0.0
Proceeds from business disposal 0.0 0.0 1.0 0.0 0.0
Other investing 0.0 0.0 (1.0) 0.0 0.0
Net cash used in investing activities (2,189.4) (12.5) (64.7) (39.5) (313.3)
FINANCING ACTIVITIES:          
Issuances of common stock 900.0 0.0 150.0 0.0 0.0
Common stock issuance costs (13.3) 0.0 (0.3) 0.0 0.0
Stock repurchased to satisfy tax withholding for vesting restricted stock units 0.0 0.0 (1.0) 0.0 0.0
Transaction fees reimbursed by Sellers 18.7 0.0 0.0 0.0 0.0
Payment of deferred underwriting costs (26.3) 0.0 0.0 0.0 0.0
SPAC share redemption (146.3) 0.0 0.0 0.0 0.0
Borrowings from third-parties, net of discount and issuance costs 807.3 1.9 0.0 0.0 218.8
Principal repayments (1.7) (2.4) (127.3) (6.6) (14.8)
Deferred financing costs (0.9) 0.0 0.0 0.0 0.0
Borrowings from notes payable – related parties 0.0 0.0 0.0 0.0 70.0
Payment on revolving term loan 0.0 0.0 0.0 0.0 (35.0)
Proceeds from net cash flow hedge derivative contracts 0.0 0.0 0.6 0.0 0.0
Other financing 0.2 1.5 0.6 (0.4) 0.0
Net cash provided by (used in) financing activities 1,537.7 1.0 22.6 (7.0) 239.0
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1.0) (0.9) 2.4 (3.2) 3.1
Net increase (decrease) in cash, cash equivalents, and restricted cash (664.9) 0.7 55.5 (10.3) (17.6)
Cash, cash equivalents, and restricted cash at beginning of period 103.1 102.4 75.0 85.3 120.0
Cash, cash equivalents, and restricted cash at end of period $ 85.3 $ 103.1 $ 130.5 $ 75.0 $ 102.4