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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Apr. 02, 2015
Operating activities    
Net income $ 171.6 $ 181.9
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation expense 49.4 43.6
Amortization expense 0.0 0.5
Amortization of deferred financing fees 1.1 4.2
Accretion of customer supply agreement 1.0 0.4
Employee stock compensation expense 5.3 6.9
Excess tax benefit of share-based payment arrangements (0.3) 0.0
Loss (gain) from hedge contracts 0.0 1.6
Loss from foreign currency transactions 4.6 6.4
Gain (Loss) on Disposition of Property Plant Equipment 2.5 0.0
Deferred taxes 24.1 1.2
Increase (Decrease) in Pension and Postretirement Obligations 7.0 (6.1)
Grant income (2.7) (2.6)
Equity in net income of affiliate (0.6) (0.3)
Changes in assets and liabilities    
Accounts receivable (148.6) 0.3
Inventory, net (50.6) 33.8
Accounts payable and accrued liabilities 19.9 (10.2)
Profit sharing/deferred compensation (43.1) (91.1)
Advance payments (40.3) (10.2)
Income taxes receivable/payable 58.2 198.0
Deferred revenue and other deferred credits 29.9 56.7
Other 5.4 8.7
Net cash provided by operating activities 93.8 423.7
Investing activities    
Purchase of property, plant and equipment (50.4) (40.3)
Net cash used in investing activities (50.4) (40.3)
Financing activities    
Proceeds from Issuance of Long-term Debt 0.0 535.0
Principal payments of debt (7.5) (7.5)
Repayments of Debt 0.0 (534.9)
Payments Related to Tax Withholding for Share-based Compensation (2.9) 0.0
Excess tax benefit of share-based payment arrangements 0.2 0.0
Debt issuance and financing costs 0.0 (4.7)
Payments for Repurchase of Common Stock (165.2) 0.0
Net cash used in financing activities (175.4) (12.1)
Effect of exchange rate changes on cash and cash equivalents (2.4) 0.3
Net (decrease) increase in cash and cash equivalents for the period (134.4) 371.6
Cash and cash equivalents, beginning of period 957.3 377.9
Cash and cash equivalents, end of period $ 822.9 $ 749.5