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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Apr. 01, 2022
Operating activities:    
Net income $ 47.8 $ 24.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22.1 23.6
Amortization of debt issuance costs 0.1 0.1
Share-based compensation expense 2.3 1.7
Asset impairments 0.0 0.0
Change in uncertain tax positions 0.3 0.1
(Gain) loss on disposal of property, plant and equipment (27.5) 3.8
Deferred income taxes (3.9) (3.3)
Other, net 1.6 (3.0)
Changes in operating assets and liabilities    
Receivables (50.6) (82.2)
Inventories 17.4 (19.2)
Prepaid expenses and other current assets (2.3) (0.5)
Accounts payable and accrued expenses 1.0 53.5
Other assets and liabilities 7.2 0.4
Net cash provided by (used in) operating activities 15.5 (0.3)
Investing activities:    
Capital expenditures (10.0) (11.1)
Proceeds from sales of property, plant and equipment 90.7 1.6
Investments in unconsolidated companies (1.1) (7.1)
Net cash provided by (used in) investing activities 79.6 (16.6)
Financing activities:    
Proceeds from debt 143.4 262.5
Payments on debt (210.5) (227.5)
Adjustment of noncontrolling interest (0.3) 0.0
Share-based awards settled in cash for taxes (0.5) (0.8)
Dividends paid (7.2) (7.2)
Other financing activities (0.8) (0.3)
Net cash (used in) provided by financing activities (75.9) 26.7
Effect of exchange rate changes on cash (0.7) (0.6)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total 18.5 9.2
Cash and cash equivalents, beginning 17.2 16.1
Cash and cash equivalents, ending 35.7 25.3
Supplemental cash flow information:    
Cash paid for interest 7.3 6.4
Cash paid for income taxes 4.1 2.5
Non-cash financing and investing activities:    
Right-of-use assets obtained in exchange for new operating lease obligations 19.3 10.8
Dividends on restricted stock units $ 0.3 $ 0.0