XML 19 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements Of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 29, 2023
Sep. 30, 2022
Cash flow from operating activities:    
Net income $ 248.3 $ 364.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 29.5 30.1
Amortization expense 155.7 97.9
Deferred income taxes (104.0) (41.3)
Stock-based compensation 112.5 93.2
Divestitures gain, net (10.6) (103.1)
Other, net (5.9) 22.7
(Increase) decrease in assets:    
Accounts receivable, net 24.0 13.2
Inventories 46.3 (99.5)
Other current and non-current assets (35.5) (31.7)
Increase (decrease) in liabilities:    
Accounts payable 5.0 (3.8)
Accrued compensation and benefits 12.3 (52.9)
Deferred revenue (39.7) 14.3
Income taxes payable 62.5 (16.6)
Other current and non-current liabilities (2.2) (1.5)
Net cash provided by operating activities 498.2 285.1
Cash flow from investing activities:    
Acquisitions of businesses, net of cash acquired (2,088.9) (318.1)
Purchases of property and equipment (32.2) (36.6)
Net proceeds from divestitures 15.1 214.3
Other, net 41.6 (11.8)
Net cash used in investing activities (2,064.4) (152.2)
Cash flow from financing activities:    
Issuance of common stock, net of tax withholdings 8.0 (4.8)
Repurchases of common stock 0.0 (394.7)
Proceeds from debt and revolving credit lines 3,398.8 529.3
Payments on debt and revolving credit lines (1,856.8) (235.9)
Other, net (29.3) (8.9)
Net cash provided by (used in) financing activities 1,520.7 (115.0)
Effect of exchange rate changes on cash and cash equivalents (2.6) (34.9)
Net decrease in cash and cash equivalents (48.1) (17.0)
Cash and cash equivalents - beginning of period 271.0 325.7
Cash and cash equivalents - end of period [1] $ 222.9 $ 308.7
[1] (1) Includes $6.1 million of cash and cash equivalents classified as held for sale as of September 29, 2023.