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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 29, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 117.2 $ 169.6
Noncash items:    
Depreciation 26.8 23.9
Amortization 75.9 78.2
Allowance for credit losses 3.5 3.8
Stock-based compensation expense 26.2 23.1
Gain on equity investments, net (3.6) 0.0
Gain on sale of property, plant and equipment (2.0) (1.1)
Gain on sale of KaVo treatment unit and instrument business 0.0 (8.9)
Restructuring charges 0.7 5.5
Impairment charges 0.3 5.8
Fair value adjustment of acquisition-related inventory 0.0 7.7
Amortization of right-of-use assets 19.9 17.7
Inducement expense related to exchange of convertible notes 28.5 0.0
Amortization of debt discount and issuance costs 3.4 3.0
Change in trade accounts receivable (33.0) (76.5)
Change in inventories 9.4 (35.9)
Change in trade accounts payable (53.2) 11.3
Change in prepaid expenses and other assets 5.4 (21.7)
Change in accrued expenses and other liabilities (26.1) (109.7)
Change in operating lease liabilities (25.6) (23.4)
Net cash provided by operating activities 173.7 72.4
Cash flows from investing activities:    
Payments for additions to property, plant and equipment (50.0) (58.8)
Proceeds from sales of property, plant and equipment 0.0 1.6
Proceeds from sale of equity investment 10.7 0.0
Acquisitions, net of cash acquired 0.0 (696.2)
Proceeds from sale of KaVo treatment unit and instrument business, net 0.0 59.8
Proceeds from the settlement of derivative financial instruments 1.1 55.9
All other investing activities, net (11.6) (18.5)
Net cash used in investing activities (49.8) (656.2)
Cash flows from financing activities:    
Proceeds from issuance of convertible notes due 2028 500.2 0.0
Principal paid related to exchange of convertible notes due 2025 (401.2) 0.0
Proceeds from borrowings 323.5 0.3
Repayment of borrowings (288.8) (0.5)
Proceeds from revolving line of credit 0.0 124.0
Repayment of revolving line of credit 0.0 (54.0)
Proceeds from stock option exercises 7.5 19.9
Tax withholding payment related to net settlement of equity awards (7.8) (8.9)
All other financing activities 0.2 0.0
Net cash provided by financing activities 115.6 80.8
Effect of exchange rate changes on cash and cash equivalents (22.2) (2.1)
Net change in cash and cash equivalents 217.3 (505.1)
Beginning balance of cash and cash equivalents 606.9 1,073.6
Ending balance of cash and cash equivalents 824.2 568.5
Supplemental data:    
Cash paid for interest 47.9 21.1
Cash paid for taxes 49.5 80.2
ROU assets obtained in exchange for operating lease obligations 18.9 29.6
Convertible senior notes due 2028 (the “2028 Convertible Notes”)    
Cash flows from financing activities:    
Debt issuance costs related to issuance of convertible notes due 2028 (13.5) 0.0
Debt issuance costs related to other borrowings (13.5) 0.0
Other Borrowings    
Cash flows from financing activities:    
Debt issuance costs related to issuance of convertible notes due 2028 (4.5) 0.0
Debt issuance costs related to other borrowings $ (4.5) $ 0.0