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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jul. 02, 2023
Operating Activities:    
Net income $ 68.5 $ 65.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 47.5 47.2
Reduction of right of use asset 7.0 7.0
Provision for credit losses 30.0 0.0
Other non-cash items, net 9.7 10.1
Net changes in operating assets and liabilities (56.7) (50.8)
Net cash provided by operating activities 106.0 79.2
Investing Activities:    
Purchases of property, plant and equipment, net (36.7) (45.9)
Payments related to acquisition of business, net of cash acquired (4.0) (1.8)
Proceeds from sale of assets 0.0 0.2
Proceeds from sale of short-term investments 3.1 7.0
Purchases of short-term investments (5.2) (9.1)
Other investing activities (3.0) 0.3
Net cash used in investing activities (45.8) (49.3)
Financing Activities:    
Repayment of long-term debt (7.2) (7.4)
Repayment of short-term debt (16.3) (12.7)
Purchase of common stock for treasury (34.6) 0.0
Proceeds from issuance of stock under option plan 13.0 0.2
Excess tax benefits related to stock incentive programs (2.8) (2.8)
Dividends paid to non-controlling interests (0.4) 0.0
Cash dividends paid (6.5) (3.3)
Net cash used in financing activities (54.8) (26.0)
Effect of exchange rate changes on cash and cash equivalents (12.0) (4.0)
Net increase (decrease) in cash and cash equivalents (6.6) (0.1)
Cash and cash equivalents at beginning of period 317.2 [1] 247.2
Cash and cash equivalents at end of period 310.6 247.1
Supplemental disclosure of cash flow information:    
Interest paid 31.3 39.2
Income taxes paid 36.2 26.4
Non-cash financing activities:    
Treasury stock purchases settled after period end $ 0.3 $ 0.0
[1] Condensed from audited financial statements