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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 27, 2020
Sep. 29, 2019
Operating Activities:    
Consolidated net income $ 83.8 $ 106.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 70.2 73.6
Non-cash pension settlement costs 5.4 0.0
Reduction of right of use asset 9.3 9.6
Asset impairment charge 7.1 7.5
Other non-cash items 1.1 0.1
Pension plan funding (6.9) (5.6)
Net changes in operating assets and liabilities (21.6) (33.4)
Net cash provided by operating activities 148.4 158.5
Investing Activities:    
Purchases of property, plant and equipment, net (45.8) (51.8)
Acquisition of assets (9.2) 0.0
Proceeds from sale of short-term investments 3.6 7.7
Purchases of short-term investments (6.0) (5.5)
Other investing activities 0.0 (0.8)
Net cash used in investing activities (57.4) (50.4)
Financing Activities:    
Long-term debt issuance 400.0 0.0
Deferred financing costs (6.4) 0.0
Repayment of long-term debt (209.8) (67.1)
Repayment of short-term debt (101.2) (2.2)
Purchase of common stock for treasury (25.6) (21.0)
Proceeds from issuance of stock under option plan 0.7 0.7
Excess tax benefits related to stock incentive programs (2.0) (1.7)
Dividends paid to non-controlling interests (0.5) (4.1)
Capital contribution from non-controlling interests 1.7 0.6
Cash dividends paid (5.1) (5.3)
Net cash provided by (used in) financing activities 51.8 (100.1)
Effect of exchange rate changes on cash and cash equivalents (5.4) (3.8)
Net (decrease) increase in cash and cash equivalents 137.4 4.2
Cash and cash equivalents at beginning of period 241.6 [1] 208.8
Cash and cash equivalents at end of period 379.0 [2] 213.0
Supplemental disclosure of cash flow information:    
Interest paid 24.0 32.8
Income taxes paid 25.4 19.9
Non-cash financing activities:    
Treasury stock purchases settled after period end $ 0.4 $ 0.2
[1] Condensed from audited financial statements
[2] Unaudited