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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 27, 2019
Sep. 28, 2018
Operating activities:    
Net income $ 161.9 $ 114.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 28.7 23.3
Amortization of intangible assets 26.4 28.6
Stock-based compensation 14.5 15.0
Deferred income taxes 0.1 0.1
Pension plan contributions (5.2) (5.8)
Pension plan expenses 4.6 3.2
Changes in current assets and liabilities, net 15.8 74.8
Other, net (8.8) (1.3)
Net cash provided by operating activities 206.4 102.8
Investing activities:    
Acquisitions of businesses, net of cash acquired 0.0 (149.9)
Capital expenditures, net (27.5) (32.0)
Other 0.0 9.1
Net cash used in investing activities (27.5) (172.8)
Financing activities:    
Proceeds from borrowings 3,361.9 2,036.8
Repayments of borrowings (3,534.4) (2,020.5)
Proceeds from stock options exercised 4.3 1.5
Other, net (1.5) 0.0
Net cash (used in) provided by financing activities (169.7) 17.8
Increase (decrease) in cash and cash equivalents 9.2 (52.2)
Effect of exchange rate changes on cash balances 5.5 6.1
Cash and cash equivalents at beginning of period 81.0 116.0
Cash and cash equivalents at end of period $ 95.7 $ 69.9