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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ (602,828) $ (48,404)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 296,441 331,077
Amortization of debt issuance costs, debt discount and fair values 74,629 68,192
Impairment of goodwill and intangible assets 415,491 0
Share-based compensation expense 4,482 6,834
Non-cash lease expense 4,560 5,173
Loss on extinguishment of debt 0 184
Loss on divestiture 0 10,080
Loss on sale of assets 2,212 260
Amortization of inventory and other fair value step ups 11,949 0
Change in fair value of contingent consideration 4,856 0
Unrealized (gain) loss on foreign currency exchange rates 6,004 (2,200)
Provision for credit losses 5,982 5,249
Deferred income taxes (121,222) (90,903)
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable (94,838) (62,914)
Inventories (57,479) 46,758
Income taxes (28,875) 22,100
Prepaid expenses and other current assets (6,096) 14,515
Accounts payable (8,198) (21,146)
Accrued expenses (65,275) (84,882)
Other, net (19,357) (18,351)
Net cash flows from operating activities (177,562) 181,622
Cash flows from investing activities:    
Acquisitions, net of cash acquired (929,801) (67,834)
Capital expenditures (155,820) (125,700)
Final settlement on divestiture 0 (10,080)
Proceeds from sale of property, plant and equipment 5,056 0
Net cash flows from investing activities (1,080,565) (203,614)
Cash flows from financing activities:    
Proceeds from short-term borrowings 1,200,000 0
Repayments of short-term borrowings (995,000) 0
Proceeds from term loans 500,000 0
Payments on term loans (14,500) (21,750)
Proceeds from senior notes 500,000 0
Repurchases of senior notes 0 (33,885)
Payments of financing costs (12,335) 0
Dividend payment to parent (231,625) 0
Net cash flows from financing activities 946,540 (55,635)
Effect of exchange rate changes on cash and cash equivalents 1,005 (104)
Net decrease in cash and cash equivalents (310,582) (77,731)
Cash and cash equivalents at beginning of period 468,877 553,551
Cash and cash equivalents at end of period $ 158,295 $ 475,820