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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 25, 2023
Jun. 26, 2022
OPERATING ACTIVITIES    
Net income $ 140.6 $ 124.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 14.3 14.2
Amortization of intangibles 6.0 6.1
Loss on disposal and impairment of long-lived asset 0.2 1.5
Stock-based compensation 9.5 8.2
Deferred income tax (10.1) (1.1)
Changes in operating assets and liabilities, net of effects from business acquisitions:    
Accounts receivable (29.2) (54.1)
Inventories (35.0) (72.5)
Prepaid expenses and other assets (8.9) (6.0)
Accounts payable, accrued expenses and other liabilities 13.1 24.4
Net cash provided by operating activities 100.5 44.9
INVESTING ACTIVITIES    
Additions to property, plant and equipment (11.6) (13.1)
Proceeds from the sale of property, plant and equipment   0.8
Business acquisitions, net of cash acquired (11.7)  
Net cash used in investing activities (23.3) (12.3)
FINANCING ACTIVITIES    
Proceeds from long-term borrowings 30.0 75.0
Payments of long-term debt (80.0) (15.0)
Payments for withholding taxes on vested awards (15.6) (12.9)
Payments for finance leases and other (1.4) (0.6)
Proceeds from share transactions under employee stock plans 0.1 0.2
Payments to repurchase common stock (7.7) (61.1)
Dividends (22.3) (19.3)
Net cash used in financing activities (96.9) (33.7)
Effect of exchange rate changes on cash and cash equivalents 0.8 (10.9)
DECREASE IN CASH AND CASH EQUIVALENTS (18.9) (12.0)
Cash and cash equivalents at beginning of year 310.8 242.0
CASH AND CASH EQUIVALENTS AT END OF PERIOD 291.9 230.0
Acquisition of businesses:    
Fair value of assets acquired 19.5  
Cash paid, net of cash acquired 11.7  
Liabilities assumed 7.8  
Issuance of stock under management stock purchase plan 0.4 0.3
CASH PAID FOR:    
Interest 2.9 2.3
Income taxes $ 57.7 $ 42.3