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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jul. 01, 2022
Operating activities:    
Net income $ 96.0 $ 45.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 43.7 47.3
Amortization of debt issuance costs 0.2 0.3
Share-based compensation expense 5.1 2.8
Asset impairments 2.8 0.2
Change in uncertain tax positions 0.4 0.3
(Gain) loss on disposal of property, plant and equipment and subsidiary (34.2) 2.2
Deferred income taxes (6.1) (5.8)
Other, net 0.2 (10.9)
Changes in operating assets and liabilities    
Receivables (44.3) (61.8)
Inventories 81.8 26.7
Prepaid expenses and other current assets 0.4 (0.2)
Accounts payable and accrued expenses (17.0) 42.3
Other assets and liabilities 3.7 6.0
Net cash provided by operating activities 132.7 95.1
Investing activities:    
Capital expenditures (18.9) (23.2)
Proceeds from sales of property, plant and equipment 96.8 6.3
Cash paid from settlement of derivatives not designated as hedges 0.0 (0.2)
Investments in unconsolidated companies (3.7) (8.1)
Other investing activities (0.5) 0.1
Net cash provided by (used in) investing activities 73.7 (25.1)
Financing activities:    
Proceeds from debt 232.9 441.7
Payments on debt (372.2) (498.1)
Purchase of redeemable noncontrolling interest (5.2) 0.0
     Distributions to noncontrolling interests (17.8) (0.6)
Share-based awards settled in cash for taxes (0.7) (0.8)
Dividends paid (16.8) (14.3)
Other financing activities (0.4) (0.3)
Net cash used in financing activities (180.2) (72.4)
Effect of exchange rate changes on cash 0.4 1.9
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total 26.6 (0.5)
Cash and cash equivalents, beginning 17.2 16.1
Cash and cash equivalents, ending 43.8 15.6
Supplemental cash flow information:    
Cash paid for interest 14.2 12.1
Cash paid for income taxes 8.7 5.3
Non-cash financing and investing activities:    
Right-of-use assets obtained in exchange for new operating lease obligations 36.7 18.0
Dividends on restricted stock units 0.4 0.0
Accounts receivable obtained from disposition of subsidiary $ 17.0 $ 0.0