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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Apr. 02, 2023
Operating Activities:    
Net income $ 68.4 $ 86.6
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 36.0 35.1
Share-based compensation 6.2 7.1
Deferred taxes 12.0 0.9
Net gains from disposal of property, plant and equipment 0.0 (0.3)
Changes in operating assets and liabilities:    
Inventories (37.4) (98.1)
Accounts receivable (95.6) (146.4)
Accounts payable (33.5) (77.8)
Pension Plan Contributions 0.0 (50.0)
Retirement benefits (3.4) (5.0)
Accrued liabilities and other (51.5) (37.3)
Cash used in operating activities (98.8) (285.2)
Investing Activities:    
Purchases of property, plant and equipment (65.8) (60.4)
Proceeds from disposal of property, plant and equipment 1.0 0.9
Other 1.0 0.2
Cash used in investing activities (63.8) (59.3)
Financing Activities:    
Payments on long-term debt and finance leases (7.1) (5.7)
Net payments under credit facilities (4.9) (16.8)
Purchase of treasury stock (150.0) (10.1)
Shares repurchased for income tax withholding on share-based compensation and other (24.9) (10.7)
Cash used in financing activities (186.9) (43.3)
Decrease in cash and cash equivalents    
Decrease in cash and cash equivalents (349.5) (387.8)
Cash and cash equivalents at beginning of period 743.9 584.0
Cash and cash equivalents at end of period $ 394.4 $ 196.2