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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 26, 2021
Sep. 27, 2020
OPERATING ACTIVITIES    
Net income $ 125.6 $ 85.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 23.5 23.3
Amortization of intangibles 10.5 11.4
Loss on disposal and impairment of property, plant and equipment and other 1.1 3.3
Stock-based compensation 16.8 8.8
Deferred income tax (8.7) (2.3)
Changes in operating assets and liabilities, net of effects from business acquisitions and divestitures:    
Accounts receivable (49.6) 14.5
Inventories (93.4) 3.1
Prepaid expenses and other assets (1.8) (3.8)
Accounts payable, accrued expenses and other liabilities 110.9 (16.0)
Net cash provided by operating activities 134.9 127.4
INVESTING ACTIVITIES    
Additions to property, plant and equipment (19.6) (33.8)
Proceeds from sale of property, plant, and equipment 4.9 1.5
Proceeds from the sale of business, and other   0.9
Business acquisitions, net of cash acquired   (7.7)
Net cash used in investing activities (14.7) (39.1)
FINANCING ACTIVITIES    
Proceeds from long-term borrowings 35.0 407.5
Payments of long-term debt (80.0) (467.5)
Payments for withholding taxes on vested awards (9.6) (7.8)
Payments for finance leases and other (1.0) (1.5)
Debt issuance costs (2.4) (2.2)
Payments to repurchase common stock (11.8) (24.8)
Dividends (25.5) (23.2)
Net cash used in financing activities (95.3) (119.5)
Effect of exchange rate changes on cash and cash equivalents (5.1) (0.2)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 19.8 (31.4)
Cash and cash equivalents at beginning of year 218.9 219.7
CASH AND CASH EQUIVALENTS AT END OF PERIOD 238.7 188.3
Acquisition of businesses:    
Fair value of assets acquired   12.3
Cash paid, net of cash acquired   7.7
Liabilities assumed   4.6
Issuance of stock under management stock purchase plan 0.5 0.7
CASH PAID FOR:    
Interest 5.2 9.6
Income taxes $ 46.0 $ 36.5