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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Cash flows from operating activities of continuing operations:        
Net income $ 16.0 $ 21.3 $ 41.0 $ 27.1
Net income from discontinued operations, net of income taxes 2.7 7.7 9.0 10.3
Net income from continuing operations 13.3 13.6 32.0 16.8
Adjustments to reconcile net income from continuing operations to cash flows from operating activities of continuing operations:        
Depreciation and amortization 49.7 47.2 97.9 94.3
Amortization of financing fees 0.9 0.9 1.7 1.7
Share-based compensation expense 9.5 2.7 12.5 4.7
(Benefit) provision for deferred income taxes (4.9) 5.4 (3.0) 6.5
Loss on disposal of property, plant and equipment, net 1.3 0.9 2.8 2.2
Gain on sale of property 0.0 0.0 (0.5) 0.0
Other non-cash items 2.0 (1.2) (2.6) (3.2)
Change in operating assets and liabilities, net of acquisitions:        
Accounts receivable 3.3 (22.6) (2.7) (18.8)
Inventories (3.0) 2.6 (1.8) 4.7
Prepaid expenses and other current assets 3.9 4.2 0.5 1.9
Other assets 4.3 (0.4) 3.8 (0.5)
Accounts payable and accrued liabilities and other liabilities 21.0 11.9 24.1 (14.8)
Net cash provided by operating activities of continuing operations 101.3 65.2 164.7 95.5
Cash flows from investing activities of continuing operations:        
Acquisitions, net of cash received (20.1) (15.6) (24.2) (23.0)
Additions to property, plant and equipment (37.3) (27.0) (74.9) (69.2)
Additions to intangible assets (3.0) (2.0) (5.3) (4.0)
Proceeds from sale of property, plant and equipment 0.1 0.1 0.2 0.2
Proceeds from sale of property 0.0 0.0 1.0 0.0
Other investing activities 0.0 1.1 2.7 1.9
Net cash used in investing activities of continuing operations (60.3) (43.4) (100.5) (94.1)
Cash flows from financing activities of continuing operations:        
Payments of long-term debt (3.8) (2.8) (6.6) (6.0)
Proceeds from short-term borrowings 0.0 43.0 0.0 104.0
Payments on short-term borrowings 0.0 (59.8) 0.0 (93.0)
Issuance of common shares 10.5 0.4 16.7 4.7
Common shares repurchased and canceled (9.1) (2.5) (20.2) (21.8)
Dividends paid to common shareholders (14.4) (13.1) (29.2) (25.9)
Payment of contingent consideration for acquisitions (1.1) (0.2) (1.8) (1.0)
Other financing activities 0.0 (2.5) 0.0 (5.0)
Net cash used in financing activities of continuing operations (17.9) (37.5) (41.1) (44.0)
Cash flows from discontinued operations:        
Net cash provided by operating activities from discontinued operations 1.4 11.6 2.2 15.6
Net cash provided by (used in) investing activities from discontinued operations 64.7 (9.0) 59.1 (19.8)
Net cash provided by financing activities from discontinued operations 0.9 2.8 1.0 9.6
Net cash provided by discontinued operations 67.0 5.4 62.3 5.4
Effect of exchange rate changes on cash 0.1 0.6 (0.4) 1.4
Net increase (decrease) in cash, cash equivalents and restricted cash 90.2 (9.7) 85.0 (35.8)
Cash and cash equivalents and restricted cash, beginning of period 525.3 96.5 530.5 122.6
Cash and cash equivalents and restricted cash, end of period 615.5 86.8 615.5 86.8
Cash and cash equivalents and restricted cash from discontinued operations, end of period 12.2 35.6 12.2 35.6
Cash and cash equivalents and restricted cash of continuing operations, end of period 603.3 51.2 603.3 51.2
Supplemental Non-Cash Investing and Financing Activities:        
Additions to property, plant and equipment through accounts payable and accrued liabilities and other liabilities 12.1 11.3 12.6 12.6
Dividends payable issued through accounts payable and accrued liabilities 0.2 0.1 0.4 0.3
Financing lease right-of-use assets obtained in exchange for lease obligations 3.6 0.1 3.6 0.1
Operating lease right-of-use assets obtained in exchange for lease obligations 16.3 12.8 26.8 13.9
Inventory transfer to property, plant and equipment 1.4 1.6 1.6 8.5
Supplemental Disclosures of Cash Flow Information:        
Cash paid for interest 27.5 31.0 28.4 35.7
Cash received for interest 6.1 0.0 10.8 0.0
Cash paid for income taxes, net $ 17.4 $ 3.7 $ 17.5 $ 3.9