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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jul. 01, 2022
Jul. 02, 2021
Operating activities:    
Net income $ 45.7 $ 89.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47.3 46.9
Amortization of debt issuance costs 0.3 0.3
Share-based compensation expense 2.8 3.7
Asset impairments 0.2 0.0
Change in uncertain tax positions 0.3 1.7
Loss (gain) on disposal of property, plant and equipment 2.2 (3.8)
Deferred income taxes (5.8) 0.5
Foreign currency translation adjustment (12.7) 0.5
Other, net 1.8 (3.0)
Changes in operating assets and liabilities    
Receivables (61.8) (28.8)
Inventories 26.7 11.4
Prepaid expenses and other current assets (0.2) 3.4
Accounts payable and accrued expenses 42.3 18.5
Other assets and liabilities 6.0 (0.9)
Net cash provided by operating activities 95.1 139.5
Investing activities:    
Capital expenditures (23.2) (70.4)
Proceeds from sales of property, plant and equipment 6.3 11.0
Cash (paid) received from settlement of derivatives not designated as hedges (0.2) 4.6
Investments in unconsolidated companies (8.1) 0.0
Other investing activities 0.1 0.3
Net cash used in investing activities (25.1) (54.5)
Financing activities:    
Proceeds from debt 441.7 339.5
Payments on debt (498.1) (407.9)
Adjustment of noncontrolling interest (0.6) (4.3)
Share-based awards settled in cash for taxes (0.8) (0.3)
Dividends paid (14.3) (9.5)
Other financing activities (0.3) 0.0
Net cash used in financing activities (72.4) (82.5)
Effect of exchange rate changes on cash 1.9 0.6
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (0.5) 3.1
Cash and cash equivalents, beginning 16.1 16.5
Cash and cash equivalents, ending 15.6 19.6
Supplemental cash flow information:    
Cash paid for interest 12.1 12.1
Cash paid for income taxes 5.3 5.7
Non-cash financing and investing activities:    
Right-of-use assets obtained in exchange for new operating lease obligations 18.0 33.1
Dividends on restricted stock units $ 0.0 $ 0.2