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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 28, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net (loss) income $ (1,128.0) $ 95.7
Noncash items:    
Depreciation 21.1 17.9
Amortization 45.0 52.0
Allowance for credit losses 13.8 3.2
Stock-based compensation expense 16.3 20.2
Loss (gain) on equity investments, net 1.1 (6.9)
Restructuring charges 0.0 0.8
Goodwill and intangible asset impairments 1,153.8 0.0
Fixed assets impairments and other charges 17.1 0.2
Non-cash operating lease costs 15.0 13.1
Amortization of debt discount and issuance costs 2.3 2.1
Deferred income taxes (46.1) 1.0
Change in trade accounts receivable 5.1 (24.0)
Change in inventories (11.0) (3.9)
Change in trade accounts payable (5.0) (47.1)
Change in prepaid expenses and other assets (3.7) (2.1)
Change in accrued expenses and other liabilities 56.7 (27.2)
Change in operating lease liabilities (20.1) (16.8)
Net cash provided by operating activities 133.4 78.2
Cash flows from investing activities:    
Payments for additions to property, plant and equipment (17.8) (31.6)
Proceeds from sale of equity investment 0.4 10.7
All other investing activities, net 0.8 (3.9)
Net cash used in investing activities (16.6) (24.8)
Cash flows from financing activities:    
Proceeds from stock option exercises 1.9 5.9
Tax withholding payment related to net settlement of equity awards (3.4) (6.4)
All other financing activities (0.8) 1.6
Net cash (used in) provided by financing activities (2.3) 1.1
Effect of exchange rate changes on cash and cash equivalents (18.3) (9.7)
Net change in cash and cash equivalents 96.2 44.8
Beginning balance of cash and cash equivalents 940.0 606.9
Ending balance of cash and cash equivalents 1,036.2 651.7
Supplemental data:    
Cash paid for interest 29.5 35.3
Cash paid for taxes 15.9 33.5
ROU assets obtained in exchange for operating lease obligations $ 19.5 $ 12.1