Consolidated Statement of Cash Flows
|
Six months ended
(unaudited) | ||||||
| ($ in millions) | June 30, 2021 | June 30, 2020 | ||||
| Operating activities | ||||||
| Consolidated net income (loss) | $ | (41.9 | ) | $ | (322.8 | ) |
| Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||||||
| Depreciation and amortization | 88.4 | 360.3 | ||||
| Income taxes and changes in non-current provisions | 31.0 | 20.4 | ||||
| (Gains)/losses on disposals of assets | 0.5 | 0.2 | ||||
| Net (gain)/loss on financial instruments at fair value | 40.8 | 10.1 | ||||
| Accrued financial interest costs | 44.9 | 64.4 | ||||
| Amortization of deferred financing cost, including original issuance discounts | 55.4 | 7.5 | ||||
| Interest paid | (43.1 | ) | (64.5 | ) | ||
| Taxes paid | (64.6 | ) | (28.8 | ) | ||
| Other | (5.7 | ) | 0.8 | |||
| (Increase)/decrease in inventories | (30.0 | ) | (33.1 | ) | ||
| (Increase)/decrease in trade receivables | 3.3 | 35.9 | ||||
| Increase/(decrease) in trade payables | 0.9 | (20.9 | ) | |||
| Changes in other assets and liabilities | (43.4 | ) | (20.6 | ) | ||
| Cash flow provided by operating activities | 36.8 | 8.8 | ||||
| Investing activities | ||||||
| Intangible assets and property, plant and equipment additions | (22.1 | ) | (22.7 | ) | ||
| Increase in non-current loans | (0.1 | ) | (0.0 | ) | ||
| Proceeds from disposals of intangible assets and property, plant and equipment | 3.3 | 0.1 | ||||
| Repayments of non-current loans | 0.1 | 0.2 | ||||
| Cash flow used in investing activities | (18.8 | ) | (22.4 | ) | ||
| Financing activities | ||||||
| Issuance of shares | 473.4 | — | ||||
| Issuance of non-current debt | 130.1 | 175.0 | ||||
| Repayment of non-current debt | (678.9 | ) | (83.0 | ) | ||
| Increase (decrease) in current borrowings and bank debt | 2.1 | (1.4 | ) | |||
| Increase (decrease) in current financial assets and liabilities | (0.2 | ) | (0.3 | ) | ||
| Payment of lease liabilities | (7.8 | ) | (7.2 | ) | ||
| Payment of deferred finance costs | — | (9.2 | ) | |||
| Cash flow used in financing activities | (81.3 | ) | 73.9 | |||
| Net decrease in cash and cash equivalents | (63.3 | ) | 60.3 | |||
| Effect of exchange rates | (7.3 | ) | (3.7 | ) | ||
| Cash and cash equivalents at the beginning of the period | 320.0 | 302.7 | ||||
| Cash and cash equivalents at the end of the period | $ | 249.4 | $ | 359.3 | ||
ATOTECH LIMITED
