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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Cash Flows From (For) Operating Activities    
Net income $ 167.0 $ 72.9
Adjustments to derive cash flows:    
Depreciation and amortization 187.8 191.5
Loss on sale of business 17.4 0.0
Share-based compensation 29.7 28.0
Impairment charges 0.0 31.9
Change in financial assets (3.7) (15.9)
Restructuring charges 1.1 21.5
Deferred income taxes 11.7 9.2
Amortization of debt premium (1.3) (3.0)
Other non-cash adjustments, net (11.5) 26.4
Subtotal 398.2 362.5
Increase (decrease) in cash due to:    
Accounts receivable 227.9 (55.3)
Inventories (38.6) (78.3)
Prepaid expenses (32.4) 2.4
Accounts payable (21.6) 41.2
Payroll and related taxes (20.4) (23.0)
Accrued customer programs (31.9) (52.8)
Accrued liabilities (7.9) (19.2)
Accrued income taxes (12.8) (36.7)
Other, net 2.2 17.5
Subtotal 64.5 (204.2)
Net cash from (for) operating activities 462.7 158.3
Cash Flows From (For) Investing Activities    
Proceeds from royalty rights 2.4 1.7
Purchase of equity method investment (15.0) 0.0
Acquisitions of businesses, net of cash acquired (106.0) 0.0
Proceeds from the Royalty Pharma contingent milestone 0.0 250.0
Asset acquisitions (32.8) (35.0)
Additions to property, plant and equipment (60.1) (54.7)
Net proceeds from sale of business 187.8 0.0
Other investing, net 2.0 0.0
Net cash from (for) investing activities (21.7) 162.0
Cash Flows From (For) Financing Activities    
Issuances of long-term debt 743.8 0.0
Payments on long-term debt 0.0 (158.9)
Borrowings (repayments) of revolving credit agreements and other financing, net 1.6 397.5
Deferred financing fees (5.0) 0.0
Issuance of ordinary shares 0.0 0.3
Cash dividends (61.9) (54.8)
Other financing, net (11.7) (5.9)
Net cash from (for) financing activities 666.8 178.2
Effect of exchange rate changes on cash and cash equivalents (5.8) 6.1
Net increase (decrease) in cash and cash equivalents 1,102.0 504.6
Cash and cash equivalents, beginning of period 354.3 551.1
Cash and cash equivalents, end of period $ 1,456.3 $ 1,055.7