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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 26, 2015
Sep. 27, 2014
Operating Activities:    
Net income $ 127.7 $ 132.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 46.6 47.7
Unrealized foreign exchange loss 7.2 29.2
Equity compensation 11.8 11.5
Amortization of deferred debt costs 0.7 0.5
Net gains on disposal of assets (13.1) (2.2)
Provision for bad debts 9.8 10.3
Write-down of inventories 12.9 14.5
Non-cash impact of re-engineering and impairment costs 13.5 1.5
Net change in deferred income taxes (25.1) (31.3)
Excess tax benefits from share-based payment arrangements (2.5) (8.8)
Changes in assets and liabilities:    
Accounts and notes receivable (20.8) (26.2)
Inventories (34.5) (59.3)
Non-trade amounts receivable (0.7) (6.5)
Prepaid expenses (6.8) (9.9)
Other assets (1.4) (2.0)
Accounts payable and accrued liabilities (14.1) (5.3)
Income taxes payable (19.7) (7.9)
Other liabilities 1.8 1.1
Net cash impact from hedging activity (21.1) 0.1
Net cash provided by operating activities 72.2 89.1
Investing Activities:    
Capital expenditures (42.4) (46.0)
Proceeds from disposal of property, plant and equipment 17.5 6.1
Net cash used in investing activities (24.9) (39.9)
Financing Activities:    
Dividend payments to shareholders (103.6) (101.0)
Proceeds from exercise of stock options 7.6 14.0
Repurchase of common stock (0.9) (41.7)
Repayment of capital lease obligations (2.1) (2.5)
Net change in short-term debt 82.0 84.9
Payments of Debt Issuance Costs (0.7) 0.0
Excess tax benefits from share-based payment arrangements 2.5 8.8
Net cash used in financing activities (15.2) (37.5)
Effect of exchange rate changes on cash and cash equivalents (16.0) (49.6)
Net change in cash and cash equivalents 16.1 (37.9)
Cash and cash equivalents at beginning of year 77.0 127.3
Cash and cash equivalents at end of period $ 93.1 $ 89.4