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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 28, 2017
Sep. 29, 2016
Operating activities    
Net income $ 232.1 $ 361.5
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation expense 159.0 149.1
Amortization expense 0.2 0.2
Amortization of deferred financing fees 2.5 18.5
Accretion of customer supply agreement 1.5 3.5
Share-based Compensation 15.9 35.7
Excess Tax Benefit from Share-based Compensation, Operating Activities 0.0 0.1
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments (1.1) 0.0
(Gain) loss from foreign currency transactions (5.9) 15.9
Gain (Loss) on Disposition of Property Plant Equipment 7.9 (0.5)
Deferred taxes 29.0 34.7
Increase (Decrease) in Obligation, Pension and Other Postretirement Benefits (32.5) (5.0)
Grant liability amortization (13.9) (8.6)
Equity in net income of affiliate (0.3) (1.3)
Changes in assets and liabilities    
Accounts receivable (177.8) (220.8)
Inventory, net 433.9 257.3
Accounts payable and accrued liabilities 212.8 (18.6)
Profit sharing/deferred compensation (35.9) 2.8
Advance payments (154.7) (101.8)
Income taxes receivable/payable (36.0) 1.3
Deferred revenue and other deferred credits (222.8) 26.0
Other 208.5 24.4
Net cash provided by operating activities 624.6 574.4
Investing activities    
Purchase of property, plant and equipment (138.7) (156.8)
Proceeds from sale of assets 0.3 0.6
Net cash used in investing activities (138.4) (156.2)
Financing activities    
Proceeds from Issuance of Senior Long-term Debt 0.0 299.8
Principal payments of debt (2.3) (16.7)
Repayments of Debt (12.5) 0.0
Repayments of Senior Debt 0.0 (300.0)
Payments Related to Tax Withholding for Share-based Compensation (13.8) (15.2)
Excess tax benefit of share-based payment arrangements 0.0 (0.1)
Debt issuance and financing costs (0.9) (17.2)
Proceeds from Other Debt 7.6 0.0
Payments for Repurchase of Common Stock (402.1) (649.6)
Proceeds from (Repayments of) Restricted Cash, Financing Activities (3.2) 0.0
Payments of Dividends (35.7) 0.0
Net cash used in financing activities (462.9) (699.0)
Effect of exchange rate changes on cash and cash equivalents 5.6 (6.1)
Net decrease in cash and cash equivalents for the period 28.9 (286.9)
Cash and cash equivalents, beginning of period 697.7 957.3
Cash and cash equivalents, end of period $ 726.6 $ 670.4