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Consolidated and Combined Statements of Cash Flows (FY) - USD ($)
$ in Millions
6 Months Ended 12 Months Ended
Jun. 28, 2024
Jun. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:          
Net earnings for the year $ 387 $ 434 $ 839 $ 845 $ 861
Noncash items:          
Depreciation 20 20 39 40 44
Amortization 21 24 48 50 62
Stock-based compensation expense 35 22 55 41 34
Gain on product line disposition 15 0 0 0 (8)
Impairment of Equity Method Investment 0 15 15 0 0
Change in deferred income taxes     (25) (44) (11)
Change in trade accounts receivable, net 15 16 2 (88) (14)
Change in inventories (18) 16 52 (38) (75)
Change in trade accounts payable (30) (53) (1) 23 65
Change in prepaid expenses and other assets (3) 8 (54) (5) (21)
Change in accrued expenses and other liabilities (76) (45) (7) 46 (41)
Net cash provided by operating activities 366 457 963 870 896
Cash flows from investing activities:          
Cash paid for acquisitions     0 (55) (60)
Payments for additions to property, plant and equipment (24) (21) (54) (34) (54)
Proceeds from sales of property, plant and equipment     2 0 0
Proceeds from sale of product lines     0 0 26
All other investing activities (10) 2 (3) 0 (9)
Net cash used in investing activities (34) (19) (55) (89) (97)
Cash flows from financing activities:          
Payment of dividends (44) 0      
Proceeds from the issuance of common stock 11 0      
Proceeds from the issuance of common stock in connection with stock-based compensation     4 0 0
Net transfers to Former Parent 0 (438) (147) (781) (800)
Consideration paid to Former Parent in connection with Separation     (2,600) 0 0
Proceeds from borrowings     2,608 0 0
All other financing activities     0 0 1
Net cash used in financing activities (33) (438) (135) (781) (799)
Effect of exchange rate changes on cash and equivalents (18) 0 (11) 0 0
Net change in cash and cash equivalents 281 0 762 0 0
Beginning balance of cash and cash equivalents 762 0 0 0 0
Ending balance of cash and cash equivalents $ 1,043 $ 0 $ 762 $ 0 $ 0