XML 21 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jan. 01, 2022
Jan. 02, 2021
Dec. 28, 2019
Cash flows from operating activities      
Net income $ 331.3 $ 90.0 $ 694.1
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 222.6 218.6 222.2
Foreign exchange and other non-cash financing expenses 33.2 18.9 10.6
Share-based compensation expense 24.6 19.8 15.0
Decrease in post-employment benefit obligations, net (14.7) (12.4) (9.4)
Deferred income taxes (94.3) (47.7) (648.4)
Asset impairments 2.0 6.6 1.9
Other operating activities 3.7 9.1 4.1
Changes in operating assets and liabilities:      
—(Increase) decrease in accounts receivable (22.3) 9.7 41.8
—(Increase) decrease in inventories (192.4) (22.1) 65.1
—Increase (decrease) in accounts payable 99.6 28.6 (48.2)
—(Increase) decrease in prepaid expenses and other assets (41.3) 6.8 (2.6)
—Increase (decrease) in taxes payable 38.7 (48.1) 46.2
—(Decrease) increase in other liabilities (8.3) 31.2 (43.5)
Net cash provided by operating activities 382.4 309.0 348.9
Cash flows from investing activities      
Purchases of property, plant and equipment (77.7) (58.2) (72.1)
Purchases of intangible assets (9.3) (9.2) (11.0)
Cash paid under corporate-owned life insurance policies (11.2) (10.9) (10.7)
Cash received under corporate-owned life insurance policies 2.4 1.5 12.0
Other investing activities 9.8 (0.7) 3.8
Net cash used in investing activities (86.0) (77.5) (78.0)
Cash flows from financing activities      
Issuance of shares 4.6 3.1 1.8
Repurchase of shares (10.6) 0.0 0.0
Proceeds from long-term debt 0.0 0.0 568.0
Payments of long-term debt (91.0) (331.2) (593.1)
Debt issuance costs paid (11.7) (0.3) (8.3)
Dividends paid to non-controlling interests (26.6) (19.0) (28.8)
Other financing activities (13.3) (6.4) 1.1
Net cash used in financing activities (148.6) (353.8) (59.3)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (11.0) 9.8 0.4
Net increase (decrease) in cash and cash equivalents 136.8 (112.5) 212.0
Cash and cash equivalents and restricted cash at the beginning of the period 524.1 636.6 424.6
Cash and cash equivalents and restricted cash at the end of the period 660.9 524.1 636.6
Supplemental schedule of cash flow information      
Interest paid 121.2 135.7 150.8
Income taxes paid 83.0 60.4 108.8
Accrued capital expenditures $ 1.0 $ 1.0 $ 1.8