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Consolidated and Combined Condensed Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 01, 2022
Jul. 02, 2021
Cash flows from operating activities:    
Net earnings $ 283.5 $ 173.3
Non-cash items:    
Depreciation and amortization expense 58.1 39.0
Stock-based compensation expense 13.1 13.0
Write-off of deferred financing costs 0.0 3.4
Amortization of debt issuance costs 1.7 1.7
Gain on previously held equity interests from combination of business (32.7) 0.0
Unrealized (loss)/gain on equity securities measured at fair value (83.0) 0.0
Change in deferred income taxes 5.0 (12.4)
Change in accounts receivable and long-term financing receivables, net (31.8) 47.3
Change in other operating assets and liabilities (165.4) (48.8)
Net cash provided by operating activities 48.5 216.5
Cash flows from investing activities:    
Cash paid for acquisitions, net of cash received (186.6) 0.0
Payments for additions to property, plant and equipment (26.5) (21.7)
Proceeds from sale of asset 0.2 0.0
Cash paid for equity investments (7.3) (7.6)
Net cash used in investing activities (220.2) (29.3)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 144.0 1,586.5
Repayment of long-term debt (130.0) (1,400.0)
Payment for debt issuance costs 0.0 (5.0)
Payment of common stock cash dividend (8.0) (4.2)
Purchase of treasury stock (271.1) 0.0
Net borrowings (repayments) of short-term debt 5.0 (5.5)
Net transfers to Former Parent 0.0 (31.8)
Proceeds from stock option exercises 0.6 4.2
Acquisition of noncontrolling interest 0.0 (1.9)
Other financing activities (3.3) (4.1)
Net cash (used in) provided by financing activities (262.8) 138.2
Effect of exchange rate changes on cash and cash equivalents (10.7) (2.5)
Net change in cash and cash equivalents (445.2) 322.9
Beginning balance of cash and cash equivalents 572.6 380.5
Ending balance of cash and cash equivalents $ 127.4 $ 703.4