XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Oct. 01, 2021
Oct. 02, 2020
Cash flows from operating activities:    
Net income (loss) $ 254.7 $ (75.1)
Noncash items:    
Depreciation 29.4 31.5
Amortization 62.6 68.0
Allowance for credit losses 4.2 20.1
Stock-based compensation expense 21.6 16.7
Gain on sale of property, plant and equipment (2.2) 0.0
Restructuring charges 0.3 11.1
Impairment charges 9.4 17.1
Amortization of right-of-use assets 21.3 23.1
Amortization of debt discount and issuance costs 17.6 8.0
Change in trade accounts receivable (15.1) 64.3
Change in inventories (67.1) 16.8
Change in trade accounts payable (39.9) (49.3)
Change in prepaid expenses and other assets (23.4) (33.8)
Change in accrued expenses and other liabilities (18.7) (0.8)
Change in operating lease liabilities (29.1) (27.2)
Net cash provided by operating activities 225.6 90.5
Cash flows from investing activities:    
Acquisitions, net of cash acquired 0.0 (40.7)
Payments for additions to property, plant and equipment (46.0) (34.6)
Proceeds from sales of property, plant and equipment 11.6 0.0
All other investing activities 8.5 11.3
Net cash used in investing activities (25.9) (64.0)
Cash flows from financing activities:    
Proceeds from issuance of convertible senior notes 0.0 517.5
Payment of debt issuance and other deferred financing costs (2.3) (17.2)
Proceeds from revolving line of credit 0.0 249.8
Repayment of revolving line of credit 0.0 (250.0)
Repayment of borrowings (475.7) 0.0
Purchase of capped calls related to issuance of convertible senior notes 0.0 (20.7)
Proceeds from stock option exercises 16.0 8.7
All other financing activities (5.4) 0.6
Net cash (used in) provided by financing activities (467.4) 488.7
Effect of exchange rate changes on cash and cash equivalents 17.6 (25.6)
Net change in cash and cash equivalents (250.1) 489.6
Beginning balance of cash and cash equivalents 888.9 211.2
Ending balance of cash and cash equivalents 638.8 700.8
Supplemental data:    
Cash paid for interest 26.1 34.3
Cash paid for taxes 65.6 22.3
ROU assets obtained in exchange for operating lease obligations $ 24.9 $ 16.0