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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Apr. 03, 2022
Apr. 04, 2021
Operating Activities    
Net income $ 212.6 $ 84.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 86.9 29.3
Stock-based compensation 9.0 7.0
Bridge financing and debt extinguishment expense 0.0 30.5
Changes in operating assets and liabilities excluding the effect of business acquired:    
Accounts receivable and unbilled receivables (57.2) (17.2)
Inventories (56.6) 17.8
Accounts payable 33.1 24.3
Deferred and income taxes receivable/payable, net 5.6 (4.1)
Prepaid expenses and other assets (2.4) (0.1)
Accrued expenses and other liabilities (451.5) (50.2)
Other operating, net 3.8 2.9
Net cash (used in) provided by operating activities (216.7) 124.9
Investing Activities    
Purchases of property, plant and equipment (21.0) (17.6)
Other investing, net 1.4 0.0
Net cash used in investing activities (19.6) (17.6)
Financing Activities    
Net proceeds from fixed rate notes 0.0 2,975.8
Net proceeds from (payments on) credit facility 32.0 (496.5)
Proceeds from exercise of stock options 12.7 10.8
Payments for bridge financing and debt extinguishment 0.0 (30.5)
Other financing, net (2.1) (5.6)
Net cash provided by financing activities 42.6 2,454.0
Effect of exchange rate changes on cash 3.3 (0.2)
Change in cash and cash equivalents (190.4) 2,561.1
Cash and cash equivalents—beginning of period 474.7 673.1
Cash and cash equivalents—end of period $ 284.3 $ 3,234.2