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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 26, 2015
Sep. 27, 2014
Cash flows used in operating activities:    
Net income (loss) $ (104.3) $ 428.7
Less: Income from discontinued operations, net of tax 79.3 211.2
Income (loss) from continuing operations (183.6) 217.5
Adjustments to reconcile income (loss) from continuing operations to net cash used in operating activities:    
Special charges, net 14.0 5.7
Gain on asset sales (1.2) (491.5)
Loss on early extinguishment of debt 1.4 32.5
Deferred and other income taxes (1.8) (41.9)
Depreciation and amortization 31.2 33.1
Pension and other employee benefits 22.9 36.7
Stock-based compensation 30.5 29.8
Other, net 0.0 0.7
Changes in operating assets and liabilities, net of effects from divestitures:    
Accounts receivable and other assets (55.3) (35.4)
Inventories (47.4) (33.5)
Accounts payable, accrued expenses and other 27.0 (42.7)
Cash spending on restructuring actions (6.0) (10.9)
Net cash used in continuing operations (168.3) (299.9)
Net cash from discontinued operations 54.3 236.9
Net cash used in operating activities (114.0) (63.0)
Cash flows from (used in) investing activities:    
Proceeds from asset sales 2.0 574.1
Decrease in restricted cash 0.0 0.1
Capital expenditures (12.8) (15.0)
Net cash from (used in) continuing operations (10.8) 559.2
Net cash from (used in) discontinued operations (38.3) 87.7
Net cash from (used in) investing activities (49.1) 646.9
Cash flows from (used in) financing activities:    
Repurchase of senior notes (includes premiums paid of $30.6) 0.0 (530.6)
Borrowings under senior credit facilities 1,235.0 467.0
Repayments under senior credit facilities (1,138.0) (207.0)
Borrowings under trade receivables agreement 154.0 80.0
Repayments under trade receivables agreement (122.0) (11.0)
Net borrowings under other financing arrangements 4.5 4.1
Purchases of common stock 0.0 (414.3)
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other (5.9) (12.9)
Financing fees paid (12.2) (0.4)
Dividends paid (30.6) (44.3)
Cash divested in connection with spin-off of FLOW Business (207.1) 0.0
Net cash used in continuing operations (122.3) (669.4)
Net cash used in discontinued operations (1.9) (60.3)
Net cash used in financing activities (124.2) (729.7)
Change in cash and equivalents due to changes in foreign currency exchange rates (57.8) (44.1)
Net change in cash and equivalents (345.1) (189.9)
Consolidated cash and equivalents, beginning of period (includes $190.4 of cash included within discontinued operations at December 31, 2014) 427.6 691.8
Consolidated cash and equivalents, end of period $ 82.5 $ 501.9