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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jul. 02, 2023
Jun. 30, 2024
Jul. 02, 2023
Dec. 31, 2023
Operating Activities          
Net income (loss) including noncontrolling interest $ 180.3 $ 185.5 $ 359.4 $ 364.3  
Adjustments to reconcile net income (loss) including noncontrolling interest to net cash provided by (used in) operating activities:          
Depreciation and amortization     155.8 162.1  
Stock-based compensation     21.3 16.3  
Gain (loss) on debt extinguishment 0.0 (1.6) 0.0 (1.6)  
Changes in operating assets and liabilities excluding the effect of business acquired:          
Accounts receivable and unbilled receivables     39.1 9.9  
Inventories     (43.2) (75.3)  
Accounts payable     13.3 (49.7)  
Deferred taxes and income taxes receivable (payable), net     13.5 8.5  
Prepaid expenses and other assets     7.4 (16.3)  
Accrued expenses and other liabilities     33.6 (18.6)  
Other operating, net     9.5 (6.1)  
Net cash provided by (used in) operating activities     609.7 393.5  
Investing Activities          
Purchases of property, plant and equipment     (33.6) (51.7)  
Purchases of businesses, net of cash acquired     (123.6) (53.5)  
Other investing, net     0.1 0.7  
Net cash provided by (used in) investing activities     (157.1) (104.5)  
Financing Activities          
Proceeds from (payments on) fixed rate senior notes     (450.0) (308.4)  
Net borrowings from (repayments made to) credit facility     0.0 (125.0)  
Proceeds from (payments on) other debt     (0.1) (135.3)  
Proceeds from exercise of stock options     11.5 15.0  
Purchases of treasury stock (193.8)   (193.8) 0.0  
Liquidation (maturity) of cross currency swap     0.0 (13.5)  
Other financing, net     (5.5) (0.6)  
Net cash provided by (used in) financing activities     (637.9) (567.8)  
Effects of exchange rate changes on cash     (19.8) 4.9  
Change in cash and cash equivalents     (205.1) (273.9)  
Cash and cash equivalents—beginning of period     648.3 638.1 $ 638.1
Cash and cash equivalents—end of period $ 443.2 $ 364.2 $ 443.2 $ 364.2 $ 648.3