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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 28, 2025
Mar. 29, 2024
Operating activities:    
Net income $ 31.9 $ 26.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18.5 20.0
Amortization of debt issuance costs 0.1 0.2
Share-based compensation expense 2.3 0.6
Asset impairments 0.0 0.0
Change in uncertain tax positions (0.9) (0.2)
Gain on disposal of property, plant and equipment, net (0.8) (14.8)
Deferred income taxes (4.4) 1.5
Other, net (0.4) 2.3
Changes in operating assets and liabilities    
Receivables (38.7) (52.9)
Inventories (5.4) 23.3
Prepaid expenses and other current assets (0.8) 1.7
Accounts payable and accrued expenses 46.1 13.9
Other assets and liabilities (1.4) (3.0)
Net cash provided by operating activities 46.1 18.7
Investing activities:    
Capital expenditures (10.0) (12.7)
Proceeds from sales of property, plant and equipment 1.9 20.1
Investments in and advances to unconsolidated companies (1.2) (3.5)
Other investing activities (0.5) 0.0
Net cash (used in) provided by investing activities (8.8) 3.9
Financing activities:    
Proceeds from debt 148.4 79.3
Payments on debt (159.5) (79.3)
Distributions to noncontrolling interests (0.1) 0.0
Share-based awards settled in cash for taxes (0.9) (0.8)
Dividends paid (14.4) (11.9)
Repurchase and retirement of ordinary shares 7.6 0.0
Payment of deferred financing costs 0.0 (2.1)
Other financing activities (0.4) (1.2)
Net cash used in financing activities (34.5) (16.0)
Effect of exchange rate changes on cash (1.0) 1.8
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total 1.8 8.4
Cash and cash equivalents, beginning 32.6 33.8
Cash and cash equivalents, ending 34.4 42.2
Supplemental cash flow information:    
Cash paid for interest 4.2 5.4
Cash paid for income taxes 1.8 3.8
Non-cash financing and investing activities:    
Right-of-use assets obtained in exchange for new operating lease obligations 14.9 1.9
Dividends on restricted stock units 0.4 0.4
Non-cash conversion of note receivable in exchange for investment in unconsolidated company $ 0.0 $ 0.7