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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Apr. 01, 2022
Apr. 01, 2022
Cash flows from operating activities:      
Net income $ 0.4 $ 30.8 $ 30.8
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 8.9 9.8  
Amortization of intangible assets 5.8 8.1  
Stock-based compensation 3.7 5.6  
Amortization of debt issuance costs 1.0 1.0  
Loss on the disposal of assets 0.0 0.1  
Deferred income taxes (0.6) 1.4  
Change in the fair value of financial instruments 0.2 0.3  
Changes in assets and liabilities:      
Accounts receivable 63.4 (29.1)  
Inventories 10.9 (61.1)  
Prepaid expenses and other current assets 6.3 4.6  
Other non-current assets (1.7) 0.0  
Accounts payable (50.5) (35.9)  
Accrued compensation and related benefits (14.7) (6.0)  
Income taxes payable (1.6) 0.0  
Operating lease assets and liabilities (0.3) (0.5)  
Other liabilities (3.2) 3.5  
Net cash provided by (used in) operating activities 28.0 (67.4)  
Cash flows from investing activities:      
Purchases of property, plant and equipment (27.3) (28.4)  
Net cash used in investing activities (27.3) (28.4)  
Cash flows from financing activities:      
Principal payments on bank borrowings (22.0) (2.6)  
Repurchase of shares (14.2) 0.0  
Net cash used in financing activities (36.2) (2.6)  
Effect of exchange rate changes on cash and cash equivalents (1.2) (1.1)  
Net decrease in cash and cash equivalents (36.7) (99.5)  
Cash and cash equivalents at beginning of period 358.8 466.5  
Cash and cash equivalents at end of period 322.1 367.0 $ 367.0
Supplemental cash flow information:      
Income taxes paid, net of income tax refunds 5.6 5.5  
Interest paid 7.4 5.0  
Non-cash investing and financing activities:      
Property, plant and equipment purchased included in accounts payable and other liabilities $ 9.5 $ 5.9