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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Cash flows from (used in) operating activities:    
Net income $ 78,800,000 $ 24,400,000
Less: Gain (loss) from discontinued operations, net of tax 1,400,000 (7,700,000)
Income from continuing operations 77,400,000 32,100,000
Adjustments to reconcile income from continuing operations to net cash from (used in) operating activities:    
Special charges, net 0 100,000
Gain on change in fair value of equity security (3,600,000) (4,400,000)
Deferred and other income taxes (10,400,000) (9,000,000.0)
Depreciation and amortization 26,700,000 25,600,000
Pension and other employee benefits 5,700,000 6,300,000
Long-term incentive compensation 6,600,000 5,600,000
Other, net (3,000,000.0) 1,000,000.0
Changes in operating assets and liabilities, net of effects from acquisitions and divestitures:    
Accounts receivable and other assets 4,900,000 (5,000,000.0)
Inventories (27,000,000.0) (44,900,000)
Accounts payable, accrued expenses and other (2,700,000) (90,600,000)
Cash spending on restructuring actions 0 (300,000)
Net cash from (used in) continuing operations 74,600,000 (83,500,000)
Net cash used in discontinued operations (7,000,000.0) (13,000,000.0)
Net cash from (used in) operating activities 67,600,000 (96,500,000)
Cash flows from (used in) investing activities:    
Proceeds related to company-owned life insurance policies, net 1,000,000.0 1,600,000
Business acquisitions, net of cash acquired (547,100,000) (41,400,000)
Capital expenditures (8,700,000) (6,000,000.0)
Net cash used in continuing operations (554,800,000) (45,800,000)
Net cash used in discontinued operations 0 (13,900,000)
Net cash used in investing activities (554,800,000) (59,700,000)
Cash flows from (used in) financing activities:    
Borrowings under senior credit facilities 820,000,000.0 0
Repayments under senior credit facilities (420,000,000.0) (6,300,000)
Borrowings under trade receivables arrangement 61,000,000.0 0
Repayments under trade receivables arrangement (31,000,000.0) 0
Net repayments under other financing arrangements (100,000) (200,000)
Payment of contingent consideration 0 (1,300,000)
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options (2,400,000) (5,200,000)
Financing Fees Paid (1,300,000) 0
Repurchases of common stock 0 (33,700,000)
Net cash from (used in) continuing operations 426,200,000 (46,700,000)
Net cash from discontinued operations 0 300,000
Net cash from (used in) financing activities 426,200,000 (46,400,000)
Change in cash and equivalents due to changes in foreign currency exchange rates (500,000) 1,800,000
Net change in cash and equivalents (61,500,000) (200,800,000)
Consolidated cash and equivalents, beginning of period 157,100,000 396,000,000.0
Consolidated cash and equivalents, end of period $ 95,600,000 $ 195,200,000