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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 03, 2022
Jul. 04, 2021
Operating Activities    
Net income $ 383.9 $ 149.4
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 169.6 112.4
Stock-based compensation 15.4 16.3
Bridge financing and debt extinguishment (income) expense (10.6) 30.5
Changes in operating assets and liabilities excluding the effect of business acquired:    
Accounts receivable and unbilled receivables (67.5) (28.0)
Inventories (103.9) 20.5
Accounts payable 32.8 27.4
Deferred and income taxes receivable/payable, net (60.2) (2.6)
Prepaid expenses and other assets 16.2 11.4
Accrued expenses and other liabilities (405.1) (15.5)
Other operating, net 9.6 14.4
Net cash (used in) provided by operating activities (19.8) 336.2
Investing Activities    
Purchases of property, plant and equipment (41.8) (38.4)
Purchase of businesses, net of cash acquired 0.0 (3,723.4)
Proceeds from disposal of fixed assets 5.1 0.0
Other investing, net 1.3 0.0
Net cash used in investing activities (35.4) (3,761.8)
Financing Activities    
Repayments debt 0.0 (496.5)
Net proceeds from credit facility 0.0 3,975.8
Payments on other debt (144.5) 0.0
Proceeds from exercise of stock options 17.5 15.9
Liquidation of cross currency swap 18.3 0.0
Payments for bridge financing and debt extinguishment 0.0 (30.5)
Other financing, net (1.9) (13.3)
Net cash (used in) provided by financing activities (110.6) 3,451.4
Effect of exchange rate changes on cash (30.1) (3.8)
Change in cash and cash equivalents (195.9) 22.0
Cash and cash equivalents—beginning of period 474.7 673.1
Cash and cash equivalents—end of period $ 278.8 $ 695.1