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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Apr. 01, 2023
Apr. 02, 2022
Operating Activities    
Net income $ 121.2 $ 198.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 44.8 43.8
Amortization 27.5 28.2
Provision for credit losses and sales returns 10.6 16.1
Stock-based compensation 10.5 11.1
Deferred taxes and other non-cash taxes (4.5) 1.9
Other non-cash expense and loss (income and gain), net 10.1 6.5
Changes in assets and liabilities and other adjustments (218.3) (179.6)
Net cash provided by operating activities 1.9 126.2
Investing Activities    
Purchases of property, plant and equipment (64.5) (49.7)
Purchases of software and other deferred charges (5.3) (5.6)
Proceeds from sales of property, plant and equipment 0.2 0.3
Proceeds from insurance and sales (purchases) of investments, net (3.5) 1.8
Payments for acquisitions, net of cash acquired, and venture investments (43.5) (33.4)
Net cash used in investing activities (116.6) (86.6)
Financing Activities    
Net increase (decrease) in borrowings with maturities of three months or less 42.9 179.4
Additional long-term borrowings 394.9 0.0
Repayments of long-term debt and finance leases (1.4) (1.9)
Dividends paid (60.8) (56.2)
Share repurchases (50.7) (151.5)
Net (tax withholding) proceeds related to stock-based compensation (23.6) (24.9)
Other (1.5) 0.0
Net cash provided by (used in) financing activities 299.8 (55.1)
Effect of foreign currency translation on cash balances (1.0) (0.1)
Increase (decrease) in cash and cash equivalents 184.1 (15.6)
Cash and cash equivalents, beginning of year 167.2 162.7
Cash and cash equivalents, end of period $ 351.3 $ 147.1