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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Operating Activities    
Net income $ 198.2 $ 209.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 43.8 40.0
Amortization 28.2 14.4
Provision for credit losses and sales returns 16.1 8.9
Stock-based compensation 11.1 9.9
Pension plan settlement loss 0.0 0.4
Deferred taxes and other non-cash taxes 1.9 1.5
Other non-cash expense and loss (income and gain), net 6.5 2.7
Changes in assets and liabilities and other adjustments (179.6) (78.0)
Net cash provided by operating activities 126.2 209.3
Investing Activities    
Purchases of property, plant and equipment (49.7) (25.2)
Purchases of software and other deferred charges (5.6) (2.3)
Proceeds from sales of property, plant and equipment 0.3 0.7
Proceeds from insurance and sales (purchases) of investments, net 1.8 (0.5)
Proceeds from sale of product line 0.0 6.7
Payments for acquisitions, net of cash acquired, and investments in businesses (33.4) (30.6)
Net cash used in investing activities (86.6) (51.2)
Financing Activities    
Net increase (decrease) in borrowings with maturities of three months or less 179.4 53.8
Repayments of long-term debt and finance leases (1.9) (1.5)
Dividends paid (56.2) (51.6)
Share repurchases (151.5) (55.6)
Net (tax withholding) proceeds related to stock-based compensation (24.9) (25.3)
Net cash used in financing activities (55.1) (80.2)
Effect of foreign currency translation on cash balances (0.1) (2.2)
Increase (decrease) in cash and cash equivalents (15.6) 75.7
Cash and cash equivalents, beginning of year 162.7 252.3
Cash and cash equivalents, end of period $ 147.1 $ 328.0