XML 16 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 25, 2015
Operating activities:    
Net income $ 215.1 $ 140.0
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 57.6 53.7
Amortization of debt issuance costs 0.3 0.3
Stock-based compensation expense 22.8 11.2
Asset impairment, net 8.5 2.4
Change in uncertain tax positions (0.5) (0.1)
Gain on disposal of property, plant and equipment (5.1) (2.5)
Deferred income taxes (6.1) 1.2
Excess tax benefit from stock-based compensation (2.6) (1.1)
Foreign currency translation adjustment (1.1) (4.9)
Changes in operating assets and liabilities:    
Receivables 12.2 8.6
Inventories 15.5 21.3
Prepaid expenses and other current assets 4.8 (4.5)
Accounts payable and accrued expenses 14.1 15.4
Other noncurrent assets and liabilities (1.9) (2.8)
Net cash provided by operating activities 333.6 238.2
Investing activities:    
Capital expenditures (98.4) (90.0)
Proceeds from sales of property, plant and equipment 11.0 6.1
Purchase of a business (7.1) 0.0
Net cash used in investing activities (94.5) (83.9)
Financing activities:    
Proceeds from long-term debt 359.1 419.5
Payments on long-term debt (477.9) (474.9)
Purchase of noncontrolling interest (45.0) 0.0
Distributions to noncontrolling interests, net (0.5) (1.8)
Proceeds from stock options exercised 10.7 32.6
Excess tax benefit from stock-based compensation 2.6 1.1
Dividends paid (20.5) (19.7)
Repurchase and retirement of ordinary shares (68.7) (112.8)
Net cash used in by financing activities (240.2) (156.0)
Effect of exchange rate changes on cash (0.6) 10.2
Net (decrease) increase in cash and cash equivalents (1.7) 8.5
Cash and cash equivalents, beginning 24.9 34.1
Cash and cash equivalents, ending 23.2 42.6
Supplemental cash flow information:    
Cash paid for interest 2.3 2.8
Cash paid for income taxes 9.7 7.3
Non-cash financing and investing activities:    
Purchase of assets under capital lease obligations 0.1 1.0
Retirement of ordinary shares 66.9 97.7
Dividends on restricted share units $ (0.5) $ (0.4)