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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 29, 2024
Oct. 01, 2023
Operating Activities:    
Net income $ 240.6 $ 274.2
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 112.4 106.6
Share-based compensation 26.6 21.5
Deferred taxes 56.5 2.2
Net gains from disposal of property, plant and equipment (6.0) (0.1)
Loss (gain) from sale of business 0.0 0.6
Changes in operating assets and liabilities:    
Inventories (198.4) (158.2)
Accounts receivable (111.3) (104.0)
Accounts payable 20.2 (108.2)
Pension Plan Contributions 0.0 (272.0)
Retirement benefits (7.9) (12.3)
Accrued liabilities and other (106.4) (81.6)
Cash provided by (used in) operating activities 26.3 (331.3)
Investing Activities:    
Purchases of property, plant and equipment (191.8) (147.3)
Proceeds from disposal of property, plant and equipment 10.6 3.3
Transaction costs for sales of businesses, net of proceeds 0.0 (0.3)
Other 3.0 1.1
Cash used in investing activities (178.2) (143.2)
Financing Activities:    
Borrowings on long-term debt 0.0 425.0
Payments on long-term debt and finance leases (21.9) (22.0)
Net payments under credit facilities (5.1) (7.3)
Receipt of convertible note capped call 76.1 0.0
Debt issuance costs 0.0 (6.1)
Purchase of treasury stock (190.0) (55.1)
Shares repurchased for income tax withholding on share-based compensation and other (25.3) (11.1)
Cash provided by (used in) financing activities (166.2) 323.4
Less: Cash held for sale (19.2) 0.0
Decrease in cash and cash equivalents (337.3) (151.1)
Cash and cash equivalents at beginning of period 743.9 584.0
Cash and cash equivalents at end of period $ 406.6 $ 432.9