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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 27, 2018
Sep. 28, 2017
Operating activities    
Net income $ 439.4 $ 232.1
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation expense 171.3 159.0
Amortization expense 0.4 0.2
Amortization of deferred financing fees 17.3 2.5
Accretion of customer supply agreement 3.0 1.5
Employee stock compensation expense 19.9 15.9
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments 3.4 1.1
Loss (gain) from foreign currency transactions 0.8 (5.9)
Gain (Loss) on Disposition of Property Plant Equipment 1.7 7.9
Deferred taxes (37.8) 29.0
Increase (Decrease) in Obligation, Pension and Other Postretirement Benefits (25.1) (32.5)
Grant liability amortization (15.9) (13.9)
Equity in net income of affiliate (0.6) (0.3)
Increase (Decrease) in Forward Provision (134.0) 0.0
Changes in assets and liabilities    
Accounts receivable (122.3) (177.8)
Inventory, net 26.7 433.9
Increase (Decrease) in Unbilled Receivables (50.4) 0.0
Accounts payable and accrued liabilities 279.9 212.8
Profit sharing/deferred compensation (67.4) (35.9)
Advance payments (73.2) (154.7)
Income taxes receivable/payable (28.3) (36.0)
Increase (Decrease) in Billing in Excess of Cost of Earnings 188.0 0.0
Deferred revenue and other deferred credits (1.1) (222.8)
Other (28.3) 208.5
Net cash provided by operating activities 567.4 624.6
Investing activities    
Purchase of property, plant and equipment (170.9) (138.7)
Payments for (Proceeds from) Other Investing Activities 2.8 0.0
Proceeds from Sales of Assets, Investing Activities   0.4
Net cash used in investing activities (168.1) (138.3)
Financing activities    
Proceeds from Issuance of Senior Long-term Debt 1,300.0 0.0
Principal payments of debt (4.9) (2.3)
Repayments of Debt (256.3) (12.5)
Early Repayment of Senior Debt (300.0) 0.0
Repayments of Senior Debt (256.3) (12.5)
Payments Related to Tax Withholding for Share-based Compensation (15.5) (13.8)
Debt issuance and financing costs (23.2) (0.9)
Proceeds from Other Debt 0.0 7.6
Payments for Repurchase of Common Stock (805.8) (402.1)
Payments of Dividends (35.4) (35.7)
Net cash used in financing activities (141.1) (459.7)
Effect of exchange rate changes on cash and cash equivalents 0.2 5.6
Net increase in cash, cash equivalents, and restricted cash for the period 258.4 32.2
Cash, cash equivalents, and restricted cash, beginning of period 445.5 717.6
Cash, cash equivalents, and restricted cash, end of period $ 683.4 $ 726.6