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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 26, 2020
Dec. 28, 2019
Dec. 29, 2018
Operating Activities:      
Net income $ 112.2 $ 12.4 $ 155.9
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 44.7 55.2 58.2
Unrealized foreign exchange loss (gain) 0.7 (0.5) (0.6)
Stock-based compensation 8.9 10.4 14.5
Amortization of deferred debt issuance costs 1.8 0.7 0.6
Gain on disposal of assets (14.0) (13.4) (18.8)
Provision for bad debts 13.5 28.6 20.4
Gain on debt extinguishment (47.7) 0.0 0.0
Write-down of inventories 15.6 12.4 7.5
Non-cash impact of impairment expense and re-engineering charges 0.0 40.0 1.3
Net change in deferred taxes 5.8 19.1 59.8
Net cash impact from hedging activity 3.6 (2.3) 2.9
Other 0.1 0.2 0.0
Changes in assets and liabilities:      
Accounts and notes receivable (13.9) 9.3 (33.8)
Inventories (8.8) (1.6) (25.8)
Non-trade amounts receivable 2.4 (3.4) 1.0
Prepaid expenses (5.1) (0.5) 1.1
Other assets (18.3) (7.6) 1.1
Accounts payable and accrued liabilities 46.7 (28.6) (43.8)
Income taxes payable 25.8 (34.8) (69.1)
Other liabilities (7.9) (8.2) (0.4)
Net cash provided by operating activities 166.1 87.4 132.0
Investing Activities:      
Capital expenditures (27.9) (61.0) (75.4)
Proceeds from disposal of property, plant and equipment 59.4 34.0 40.7
Net cash provided by (used in) investing activities 31.5 (27.0) (34.7)
Financing Activities:      
Senior notes repayment (552.3) 0.0 0.0
Proceeds from term loan 275.0 0.0 0.0
Net increase (decrease) in short-term debt 131.0 (6.2) 162.1
Debt issuance costs (20.7) (2.3) 0.0
Finance lease repayments (0.6) (1.6) (1.9)
Common stock repurchase (1.6) (0.9) (101.7)
Proceeds from exercise of stock options 0.2 0.0 0.3
Common stock cash dividends paid 0.0 (74.3) (137.8)
Net cash used in financing activities (169.0) (85.3) (79.0)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (4.2) (0.9) (13.6)
Net change in cash, cash equivalents and restricted cash 24.4 (25.8) 4.7
Cash, cash equivalents and restricted cash at beginning of year 126.1 151.9 147.2
Cash, cash equivalents and restricted cash at end of year $ 150.5 $ 126.1 $ 151.9