XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jul. 02, 2023
Cash flows from operating activities of continuing operations:    
Net income $ 95,327 $ 188,083
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss from discontinued operations 579 636
Depreciation expense 34,487 36,723
Intangible asset amortization expense 99,686 83,600
Deferred financing costs and debt discount amortization expense 1,716 1,700
Pension settlement charge 138,139 0
Fair value step up of acquired inventory sold 1,722 0
Changes in contingent consideration 5,852 (6,776)
Asset impairment charges 2,110 0
Stock-based compensation 15,739 14,020
Deferred income taxes, net (62,953) 460
Interest benefit on swaps designated as net investment hedges (8,000) (10,288)
Other 2,168 2,824
Changes in assets and liabilities, net of effects of acquisitions and disposals:    
Accounts receivable (11,238) (16,587)
Inventories (23,775) (45,630)
Prepaid expenses and other assets 11,443 12,120
Accounts payable, accrued expenses and other liabilities (34,157) (53,766)
Income taxes receivable and payable, net (64,313) (36,501)
Net cash provided by operating activities from continuing operations 204,532 170,618
Cash flows from investing activities of continuing operations:    
Expenditures for property, plant and equipment (73,232) (39,374)
Payments for businesses and intangibles acquired, net of cash acquired (70) (129)
Net proceeds on swaps designated as net investment hedges 18,262 10,275
Proceeds from sales of investments 7,300 0
Purchase of investments 7,300 0
Net cash used in investing activities from continuing operations (55,040) (29,228)
Cash flows from financing activities of continuing operations:    
Reduction in borrowings (98,250) (154,500)
Net proceeds from share based compensation plans and related tax impacts 2,398 572
Payments for contingent consideration (122) (121)
Dividends paid (32,018) (31,941)
Net cash used in financing activities from continuing operations (127,992) (185,990)
Cash flows from discontinued operations:    
Net cash used in operating activities (2,239) (454)
Net cash used in discontinued operations (2,239) (454)
Effect of exchange rate changes on cash and cash equivalents (3,542) 3,836
Net increase (decrease) in cash and cash equivalents 15,719 (41,218)
Cash and cash equivalents at the beginning of the period 222,848 292,034
Cash and cash equivalents at the end of the period $ 238,567 $ 250,816