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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash Flows From (For) Operating Activities    
Net income (loss) $ (106.4) $ 5.4
Adjustments to derive cash flows:    
Depreciation and amortization 163.3 182.6
Settlement of interest rate derivatives 41.2 0.0
Share-based compensation 38.6 43.5
Restructuring charges 38.3 10.2
Impairment charges 34.1 0.0
Deferred income taxes 1.3 (1.8)
Amortization of debt discount 0.7 1.4
Gain on sale of assets 0.0 (4.0)
Other non-cash adjustments, net 15.9 1.6
Subtotal 227.0 238.9
Increase (decrease) in cash due to:    
Accrued income taxes (130.8) (33.2)
Payroll and related taxes (69.6) (42.5)
Accounts receivable (17.3) (72.5)
Other accrued liabilities (16.9) (0.3)
Inventories (2.9) (11.1)
Accrued customer programs 5.8 35.1
Prepaid expenses and other current assets 12.2 10.9
Accounts payable 13.9 (68.8)
Other operating, net (13.3) 15.8
Subtotal (218.9) (166.6)
Net cash from operating activities 8.1 72.3
Cash Flows From (For) Investing Activities    
Additions to property, plant and equipment (53.5) (43.2)
Settlement of foreign currency derivatives (45.8) 0.0
Proceeds from sale of assets 0.0 1.8
Proceeds from royalty rights 2.5 17.4
Net cash for investing activities (96.8) (24.0)
Cash Flows For Financing Activities    
Cash dividends (75.3) (73.2)
Payments on long-term debt (19.6) (14.9)
Other financing, net (15.3) (11.2)
Net cash for financing activities (110.2) (99.3)
Effect of exchange rate changes on cash and cash equivalents (9.6) 5.5
Net decrease in cash and cash equivalents (208.5) (45.5)
Cash, cash equivalents and restricted cash of continuing operations, beginning of period 751.3 600.7
Cash, cash equivalents and restricted cash of continuing operations, end of period $ 542.8 $ 555.2