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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Cash Flows From (For) Operating Activities    
Net income (loss) $ (67.6) $ (19.6)
Adjustments to derive cash flows:    
Depreciation and amortization 153.0 165.3
Loss on extinguishment of debt 39.4 0.0
Share-based compensation 37.3 39.1
Restructuring charges 13.1 10.7
Deferred income taxes 12.6 (25.4)
Loss on sale of business 1.4 0.0
Impairment charges 0.0 158.6
(Gain) on sale of assets (5.8) 0.0
Amortization of debt premium (4.3) (1.4)
Other non-cash adjustments, net (4.8) 18.8
Subtotal 174.3 346.1
Increase (decrease) in cash due to:    
Accounts receivable (56.4) (108.2)
Inventories (50.5) (106.0)
Prepaid expenses 16.8 1.8
Accounts payable 64.2 (22.5)
Payroll and related taxes (38.8) (61.1)
Accrued customer programs 16.9 4.3
Accrued liabilities 14.2 (32.1)
Accrued income taxes (99.9) (135.6)
Other, net 21.4 31.2
Subtotal (112.1) (428.2)
Net cash from (for) operating activities 62.2 (82.1)
Cash Flows From (For) Investing Activities    
Proceeds from royalty rights 2.0 1.9
Settlement of acquisition-related foreign currency derivatives (37.1) 0.0
Acquisitions of businesses, net of cash acquired (1,901.4) 0.0
Asset acquisitions (10.0) (70.6)
Additions to property, plant and equipment (48.7) (68.4)
Net proceeds from sale of businesses 58.7 0.0
Proceeds from sale of assets 24.8 0.0
Other investing, net 0.0 1.3
Net cash from (for) investing activities (1,911.7) (135.8)
Cash Flows From (For) Financing Activities    
Issuances of long-term debt 1,587.7 0.0
Payments on long-term debt (958.9) 0.0
Borrowings (repayments) of revolving credit agreements and other financing, net 0.0 (5.8)
Payments for debt issuance costs (19.5) 0.0
Premiums on early debt retirement (12.2) 0.0
Cash dividends (69.6) (65.1)
Other financing, net (20.4) (13.5)
Net cash from (for) financing activities 507.1 (84.4)
Effect of exchange rate changes on cash and cash equivalents (51.6) (3.2)
Net increase (decrease) in cash and cash equivalents (1,394.0) (305.5)
Cash and cash equivalents of continuing operations, beginning of period 1,864.9 631.5
Cash and cash equivalents held for sale, beginning of period 14.4 10.0
Less cash and cash equivalents held for sale, end of period 0.0 (18.5)
Cash and cash equivalents of continuing operations, end of period $ 485.3 $ 317.5