XML 68 R8.htm IDEA: XBRL DOCUMENT v3.20.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 28, 2020
Mar. 30, 2019
Cash flows from operating activities    
Net income $ 39.9 $ 604.8
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization 54.9 56.1
Non-cash currency transaction gain on debt and hedging instruments (5.3) (13.6)
Other net non-cash financing costs 8.2 13.1
Share-based compensation expense 2.9 2.6
Decrease in post-employment benefit obligations, net (1.8) (2.4)
Deferred income taxes 3.7 (624.4)
Other operating activities 2.7 2.4
Changes in operating assets and liabilities, net of effects of acquisitions:    
—Increase in accounts receivable (42.1) (46.1)
—Increase in inventories (27.5) (21.3)
—Increase (decrease) in accounts payable 19.5 (25.8)
—Increase in prepaid expenses and other assets (6.1) (12.4)
—(Decrease) increase in taxes payable (38.3) 51.7
—Increase (decrease) in other liabilities 20.4 (32.4)
Net cash provided by (used in) operations 31.1 (47.7)
Cash flows from investing activities    
Purchases of property, plant and equipment (12.1) (21.3)
Purchases of intangible assets (2.8) (1.6)
Cash paid under corporate-owned life insurance policies (9.8) (9.5)
Cash received under corporate-owned life insurance policies 0.0 0.7
Other investing activities 0.1 0.0
Net cash used in investing activities (24.6) (31.7)
Cash flows from financing activities    
Issuance of shares, net of underwriting costs 2.1 1.2
Payments of long-term debt (6.2) (12.7)
Debt issuance costs paid (0.3) 0.0
Dividends paid to non-controlling interests 0.0 (1.8)
Other financing activities 1.5 0.2
Net cash used in financing activities (2.9) (13.1)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (12.9) 2.8
Net decrease in cash and cash equivalents and restricted cash (9.3) (89.7)
Cash and cash equivalents and restricted cash at the beginning of the period 636.6 424.6
Cash and cash equivalents and restricted cash at the end of the period 627.3 334.9
Supplemental schedule of cash flow information    
Interest paid 25.5 51.4
Income taxes paid, net 18.5 33.0
Accrued capital expenditures $ 1.9 $ 0.4