XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 29, 2023
Sep. 30, 2022
Operating activities:    
Net income $ 104.9 $ 78.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 64.9 70.2
Amortization of debt issuance costs 0.4 0.5
Share-based compensation expense 7.6 4.9
Asset impairments 8.1 0.2
Change in uncertain tax positions 0.5 0.4
(Gain) loss on disposal of property, plant and equipment and subsidiary (35.8) 2.2
Deferred income taxes (5.0) 0.8
Adjustment of Kunia Well Site environmental liability in Hawaii 0.0 (9.9)
Other, net (0.5) 0.7
Changes in operating assets and liabilities    
Receivables (7.1) (24.1)
Inventories 74.7 (32.5)
Prepaid expenses and other current assets (3.4) (2.2)
Accounts payable and accrued expenses (33.8) 16.7
Other assets and liabilities 4.6 (0.6)
Net cash provided by operating activities 180.1 105.7
Investing activities:    
Capital expenditures (40.7) (35.8)
Proceeds from sales of property, plant and equipment and subsidiary 115.5 7.6
Cash paid from settlement of derivatives not designated as hedges 0.0 (0.2)
Investments in unconsolidated companies (4.4) (9.3)
Other investing activities (0.5) 0.1
Net cash provided by (used in) investing activities 69.9 (37.6)
Financing activities:    
Proceeds from debt 383.2 657.6
Payments on debt (522.0) (690.6)
Purchase of redeemable noncontrolling interest (5.2) 0.0
     Distributions to noncontrolling interests (17.9) (0.9)
Share-based awards settled in cash for taxes (0.8) (1.6)
Dividends paid (26.4) (21.5)
Other financing activities (2.1) 0.0
Net cash used in financing activities (191.2) (57.0)
Effect of exchange rate changes on cash 1.9 0.7
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total 60.7 11.8
Cash and cash equivalents, beginning 17.2 16.1
Cash and cash equivalents, ending 77.9 27.9
Supplemental cash flow information:    
Cash paid for interest 19.5 16.6
Cash paid for income taxes 12.2 10.8
Non-cash financing and investing activities:    
Right-of-use assets obtained in exchange for new operating lease obligations 46.3 22.6
Dividends on restricted stock units 0.4 0.0
Other accounts receivable obtained from disposition of subsidiary $ 3.0 $ 0.0