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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Cash Flows From (For) Operating Activities    
Net income (loss) $ 5.4 $ (67.6)
Adjustments to derive cash flows:    
Depreciation and amortization 182.6 153.0
Share-based compensation 43.5 37.3
Restructuring charges 10.2 13.1
Amortization of debt discount (premium) 1.4 (4.3)
Foreign currency remeasurement loss 0.0 39.4
Loss on sale of business 0.0 1.4
Deferred income taxes (1.8) 12.6
Gain on sale of assets (4.0) (5.8)
Other non-cash adjustments, net 1.6 (4.8)
Subtotal 238.9 174.3
Increase (decrease) in cash due to:    
Accounts receivable (72.5) (56.4)
Accounts payable (68.8) 64.2
Payroll and related taxes (42.5) (38.8)
Accrued income taxes (33.2) (99.9)
Inventories (11.1) (50.5)
Accrued liabilities (0.3) 14.2
Prepaid expenses and other current assets 10.9 29.5
Accrued customer programs 35.1 16.9
Other operating, net 15.8 8.7
Subtotal (166.6) (112.1)
Net cash from operating activities 72.3 62.2
Cash Flows From (For) Investing Activities    
Additions to property, plant and equipment (43.2) (48.7)
Acquisitions of businesses, net of cash acquired 0.0 (1,901.4)
Settlement of acquisition-related foreign currency derivatives 0.0 (37.1)
Asset acquisitions 0.0 (10.0)
Net proceeds from sale of businesses 0.0 58.7
Proceeds from sale of assets 1.8 24.8
Proceeds from royalty rights 17.4 2.0
Net cash for investing activities (24.0) (1,911.7)
Cash Flows From (For) Financing Activities    
Cash dividends (73.2) (69.6)
Payments on long-term debt (14.9) (958.9)
Issuances of long-term debt 0.0 1,587.7
Payments for debt issuance costs 0.0 (19.5)
Premiums on early debt retirement 0.0 (12.2)
Other financing, net (11.2) (20.4)
Net cash (for) from financing activities (99.3) 507.1
Effect of exchange rate changes on cash and cash equivalents 5.5 (51.6)
Net decrease in cash and cash equivalents (45.5) (1,394.0)
Cash and cash equivalents of continuing operations, beginning of period 600.7 1,864.9
Cash and cash equivalents held for sale, beginning of period 0.0 14.4
Less cash and cash equivalents held for sale, end of period 0.0 0.0
Cash and cash equivalents of continuing operations, end of period $ 555.2 $ 485.3