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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Cash Flows From (For) Operating Activities    
Net income (loss) $ 19.6 $ (116.9)
Adjustments to derive cash flows:    
Depreciation and amortization 273.6 241.5
Share-based compensation 58.2 46.7
Restructuring charges 25.7 32.2
Amortization of debt discount (premium) 1.8 (2.8)
Foreign currency remeasurement loss 0.0 39.4
Loss on sale of business 0.0 1.4
Deferred income taxes 12.3 (19.6)
Gain on sale of assets (4.0) (5.8)
Other non-cash adjustments, net (2.7) 3.4
Subtotal 384.5 219.5
Increase (decrease) in cash due to:    
Accounts receivable (70.6) (38.6)
Accounts payable (92.9) 46.1
Payroll and related taxes (52.7) (40.5)
Accrued income taxes (54.4) (50.1)
Inventories (5.5) (78.8)
Accrued liabilities 13.2 19.0
Prepaid expenses and other current assets 35.9 6.7
Accrued customer programs 20.5 15.7
Other operating, net 18.8 22.4
Subtotal (187.7) (98.1)
Net cash from operating activities 196.8 121.4
Cash Flows From (For) Investing Activities    
Additions to property, plant and equipment (75.0) (70.0)
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 (10.3)
Net proceeds from sale of businesses 0.0 58.7
Proceeds from sale of assets 2.0 24.8
Proceeds from royalty rights 18.3 2.7
Net cash for investing activities (54.7) (1,932.6)
Cash Flows From (For) Financing Activities    
Cash dividends (112.1) (107.0)
Payments on long-term debt (24.0) (964.8)
Issuances of long-term debt 0.0 1,587.3
Payments for debt issuance costs 0.0 (20.9)
Premiums on early debt retirement 0.0 (12.2)
Proceeds on seller-financed divestiture 4.3
Other financing, net (6.5) (22.6)
Net cash (for) from financing activities (142.6) 464.1
Effect of exchange rate changes on cash and cash equivalents (1.9) (63.5)
Net decrease in cash and cash equivalents (2.4) (1,410.6)
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
Cash and cash equivalents of continuing operations, end of period $ 598.3 $ 468.7