DFIN 2017 Annual Report

Notes to the Consolidated and Combined Financial Statements (in millions, except per share data, unless otherwise indicated) Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES Net cash (used in) provided by operating activities . . . . . . . . . . $ (1.2) $103.2 $ 6.4 $(2.4) $ 106.0 INVESTING ACTIVITIES Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (23.6) (2.6) — (26.2) Purchases of investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (3.5) — — (3.5) Other investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 0.4 — 0.4 Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . — (27.1) (2.2) — (29.3) FINANCING ACTIVITIES Proceeds from issuance of long-term debt . . . . . . . . . . . . . . . . . 348.2 — — — 348.2 Payments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . (50.0) — — — (50.0) Net change in short-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . — — (8.8) — (8.8) Debt issuance costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (9.3) — — — (9.3) Net transfers to Parent and affiliates . . . . . . . . . . . . . . . . . . . . . (287.7) (54.4) 2.0 — (340.1) Net cash provided by (used in) financing activities . . . . . . . . . . 1.2 (54.4) (6.8) — (60.0) Effect of exchange rate on cash and cash equivalents . . . . . . . . — — 4.4 — 4.4 Net increase (decrease) in cash and cash equivalents . . . . . . . . — 21.7 1.8 (2.4) 21.1 Cash and cash equivalents at beginning of year . . . . . . . . . . . . . — 0.1 15.0 — 15.1 Cash and cash equivalents at end of period . . . . . . . . . . . . . . . . $ — $ 21.8 $16.8 $(2.4) $ 36.2 Supplemental non-cash disclosure: Debt exchange with R.R. Donnelley, including $5.5 million of debt issuance costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 300.0 $ — $ — $— $ 300.0 Settlement of intercompany note payable . . . . . . . . . . . . . . . . . — 29.6 — — 29.6 Accrued debt issuance costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.5 — — — 1.5 F-46