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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Mar. 31, 2024
Apr. 02, 2023
Cash flows from operating activities    
Net income (loss) $ 90.1 $ (74.1)
Income from discontinued operations, net of tax 22.7 40.9
Net income (loss) from continuing operations 67.4 (115.0)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities from continuing operations:    
Depreciation 28.8 24.1
Amortization 22.2 20.9
Share based compensation 8.4 7.7
Impairment of intangible assets 43.0 67.0
Impairment of property, plant and equipment and operating lease assets 0.5 4.5
Gain from debt repurchase (4.7) 0.0
Non-cash purchase accounting adjustments 0.9 0.9
Non-cash accrual for representation and warranty proceeds (15.0) 0.0
Amortization of debt issuance costs and debt discount 1.7 4.0
Write-off of unamortized discount and debt issuance costs 0.3 0.0
Gain from remeasurement of contingent consideration liability 0.0 (1.5)
Deferred tax benefit 10.9 (62.0)
Net changes in operating assets and liabilities (83.7) 198.0
Net cash provided by operating activities from continuing operations 80.7 148.6
Net cash (used) provided by operating activities from discontinued operations (81.5) 29.0
Net cash (used) provided by operating activities (0.8) 177.6
Cash flows from investing activities    
Purchases of property, plant and equipment (20.9) (25.9)
Purchases of short term investments (700.0) 0.0
Proceeds from sale of short term investments 1,292.0 0.0
Purchase price settlement from sale of HHI (26.9) 0.0
Other investing activity (0.1) 0.0
Net cash provided (used) by investing activities from continuing operations 544.1 (25.9)
Net cash used by investing activities from discontinued operations 0.0 (7.9)
Net cash provided (used) by investing activities 544.1 (33.8)
Cash flows from financing activities    
Payment of debt (177.9) (21.7)
Payment of debt issuance costs (3.2) (2.3)
Treasury stock purchases (340.5) 0.0
Dividends paid to shareholders (26.8) (34.4)
Share based award tax withholding payments, net of proceeds upon vesting (5.4) (10.5)
Net cash used by financing activities from continuing operations (553.8) (68.9)
Net cash used by financing activities from discontinued operations 0.0 (0.7)
Net cash used by financing activities (553.8) (69.6)
Effect of exchange rate changes on cash and cash equivalents 2.3 9.7
Net change in cash, cash equivalents and restricted cash in continuing operations (8.2) 83.9
Cash, cash equivalents, and restricted cash, beginning of period 753.9 243.9
Cash, cash equivalents, and restricted cash, end of period 745.7 327.8
Non cash investing activities    
Acquisition of property, plant and equipment through finance leases 1.8 2.4
Non cash financing activities    
Issuance of shares through stock compensation plan 14.0 27.2
Continuing Operations    
Supplemental disclosure of cash flow information    
Cash paid for interest associated with continued operations 35.9 56.8
Cash paid for taxes associated with continued operations 17.8 11.7
Discontinued Operations    
Supplemental disclosure of cash flow information    
Cash paid for interest associated with continued operations 0.0 29.9
Cash paid for taxes associated with continued operations $ 59.1 $ 13.5