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CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Apr. 01, 2022
Cash flows from operating activities:    
Net income $ 33,216 $ 56,403
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and other impairment charges 21,871 16,689
Stock-based compensation expense 2,994 1,728
Deferred income tax 2,290 3,509
Non-cash interest expense 299 0
Changes in operating assets and liabilities:    
Trade receivables, net (21,048) (29,833)
Inventories, net (21,611) (41,925)
Accounts payable 28,480 11,975
Other operating assets and liabilities (8,424) (2,457)
Net cash provided by operating activities 38,067 16,089
Cash flows from investing activities:    
Purchases of property, plant and equipment (7,709) (5,903)
Proceeds from sale of property, plant and equipment 681 2,746
Acquisition, net of cash received (18,721) 0
Net cash used in investing activities (25,749) (3,157)
Cash flows from financing activities:    
Proceeds from borrowings on term credit facility 187,000 0
Repayments of borrowings on revolving credit facility and other (189,765) (511)
Payment of deferred consideration 0 (1,500)
Payment of dividends (3,033) 0
Distributions to noncontrolling interest holders (1,249) (941)
Transfers from Former Parent, net 0 2,847
Net cash (used in) financing activities (7,047) (105)
Effect of foreign exchange rates on Cash and cash equivalents 4,769 2,595
Increase (decrease) in Cash and cash equivalents 10,040 15,422
Cash and cash equivalents, beginning of period 72,024 41,209
Cash and cash equivalents, end of period $ 82,064 $ 56,631