XML 17 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 25, 2016
Cash Flows From Operating Activities:    
Net income $ 399.2 $ 118.3
Adjustments to reconcile net cash from operating activities:    
Depreciation and amortization 204.0 211.5
Share-based compensation 16.4 11.3
Deferred income taxes (73.6) (115.1)
Non-cash impairment charges 0.0 16.9
Gain on divestitures (427.2) (0.4)
Other non-cash items 17.8 5.1
Changes in assets and liabilities, net of the effects of acquisitions:    
Accounts receivable, net (57.4) (17.8)
Inventories (13.5) 15.8
Accounts payable (6.6) (3.2)
Income taxes (60.6) (10.4)
Other (95.9) (3.4)
Net cash from operating activities (97.4) 228.6
Cash Flows From Investing Activities:    
Capital expenditures (52.6) (42.4)
Acquisitions and intangibles, net of cash acquired 0.0 (170.1)
Proceeds from divestitures, net of cash 576.9 5.8
Other (10.8) 3.9
Net cash from investing activities 513.5 (202.8)
Cash Flows From Financing Activities:    
Issuance of external debt 25.0 16.4
Repayment of external debt and capital leases (233.9) (21.9)
Debt financing costs (13.0) 0.0
Proceeds from exercise of share options 2.2 2.7
Repurchase of shares (279.6) (226.2)
Other 1.0 0.0
Net cash from financing activities (498.3) (229.0)
Effect of currency rate changes on cash 0.0 1.4
Cash, Cash Equivalents and Restricted Cash, Period Increase (Decrease) (82.2) (201.8)
Cash and cash equivalents 259.8 341.4
Restricted Cash and Investments, Current 0.0 26.2
Restricted Cash and Investments, Noncurrent 19.1 19.0
Cash and Cash Equivalents, Including Restricted Cash $ 361.1 $ 588.4