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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Cash Flows From (For) Operating Activities    
Net income (loss) $ (6.4) $ 2.0
Adjustments to derive cash flows:    
Depreciation and amortization 79.9 81.4
Restructuring charges 29.4 44.3
Share-based compensation 11.6 15.6
Impairment charges 3.1 0.0
Amortization of debt discount 2.2 0.4
Deferred income taxes (3.1) (11.0)
Other non-cash adjustments, net (4.8) (7.4)
Subtotal 111.9 125.3
(Decrease) increase in cash due to:    
Accounts receivable (65.2) (51.9)
Inventories (62.5) 10.6
Other accrued liabilities (56.1) 30.6
Payroll and related taxes (18.4) (51.6)
Accrued income taxes 3.6 (81.6)
Prepaid expenses and other current assets 6.1 (1.7)
Accrued customer programs 6.4 18.2
Accounts payable 7.2 (16.7)
Other operating, net 2.5 17.4
Subtotal (176.4) (126.7)
Net cash for operating activities (64.5) (1.4)
Cash Flows From (For) Investing Activities    
Proceeds from royalty rights 1.7 1.6
Asset acquisitions (1.5) 0.0
Additions to property, plant and equipment (25.5) (25.1)
Other investing, net (0.4) 0.0
Net cash for investing activities (25.7) (23.5)
Cash Flows From (For) Financing Activities    
Payments on long-term debt (8.8) (9.8)
Cash dividends (40.6) (37.6)
Other financing, net (12.4) (13.0)
Net cash for financing activities (61.8) (60.4)
Effect of exchange rate changes on cash and cash equivalents 10.3 (7.5)
Net decrease in cash and cash equivalents (141.7) (92.8)
Cash and cash equivalents of continuing operations, beginning of period 558.8 751.3
Cash and cash equivalents held for sale, beginning of period 0.0 0.0
Less cash and cash equivalents held for sale, end of period (7.2) 0.0
Cash and cash equivalents of continuing operations, end of period $ 409.9 $ 658.5