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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Jun. 27, 2020
Jun. 29, 2019
OPERATING ACTIVITIES        
Net earnings $ 238.7 $ 357.4 $ 371.8 $ 527.8
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:        
Depreciation and amortization of property, plant and equipment 94.2 93.7 187.0 187.7
Amortization of intangibles 50.5 48.0 98.8 91.8
Gain on sale of business 0.0 (17.2) 0.0 (17.2)
Share of net earnings of equity method investment (10.3) (5.3) (10.1) (5.6)
Changes in working capital (206.4) 35.9 (719.1) (580.9)
Changes in other assets and liabilities 161.5 (11.5) (5.4) (133.9)
Cash provided by (used in) operating activities 328.2 501.0 (77.0) 69.7
INVESTING ACTIVITIES        
Capital and software expenditures (64.5) (97.2) (147.4) (186.8)
Proceeds from sale of business, net of cash sold 0.0 76.7 0.0 76.7
Business acquisitions, net of cash acquired 0.4 0.2 (1,302.0) (676.0)
Purchases of investments (7.1) (8.3) (13.6) (253.7)
Net investment hedge settlements 16.6 0.0 41.0 3.9
Other (2.2) (3.6) 1.5 (3.6)
Cash used in investing activities (56.8) (32.2) (1,420.5) (1,039.5)
FINANCING ACTIVITIES        
Payment on long-term debt 0.0 0.0 0.0 (400.0)
Proceeds from debt issuances, net of fees (3.8) (0.7) 1,482.6 496.2
Stock purchase contract fees (20.0) (10.1) (40.1) (20.2)
Net short-term (repayments) borrowings (980.8) (330.6) 371.1 1,089.3
Proceeds from issuances of common stock 756.7 14.4 801.3 24.6
Purchases of common stock for treasury (0.3) (1.1) (9.3) (9.2)
Craftsman deferred purchase price 0.0 0.0 (250.0) 0.0
Craftsman contingent consideration (33.0) 0.0 (33.0) 0.0
Termination of interest rate swaps 0.0 0.0 (20.5) (1.0)
Cash dividends on common stock (105.8) (97.7) (211.4) (195.3)
Other (4.5) (4.1) (7.0) (6.1)
Cash (used in) provided by financing activities (391.5) (429.9) 2,083.7 978.3
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1.6) 0.2 (24.2) 5.0
Change in cash, cash equivalents and restricted cash (121.7) 39.1 562.0 13.5
Cash, cash equivalents and restricted cash, beginning of period 998.3 285.8 314.6 311.4
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 876.6 $ 324.9 $ 876.6 $ 324.9