XML 54 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 29, 2020
Mar. 31, 2019
Operating activities    
Net income $ 44.7 $ 54.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22.5 21.8
Operating lease expense 32.7 27.3
Stock-based compensation 2.1 1.0
Provision for credit losses 0.7 0.7
Amortization of debt issuance costs 1.0  
Deferred income taxes (0.3) (0.1)
Gain on disposal of fixed assets (0.1) 0.0
Other 0.0 0.8
Changes in operating assets and liabilities, net of acquisitions:    
Operating lease payments (31.4) (26.5)
Accounts receivable and other assets 16.0 (37.3)
Accounts payable and accrued expenses 9.4 (5.7)
Net cash provided by operating activities 97.3 36.5
Investing activities    
Purchases of property, equipment and computer software (10.6) (21.6)
Proceeds from the sale of property and equipment 0.1 0.0
Net cash used by investing activities (10.5) (21.6)
Financing activities    
Net (decrease) increase in book overdrafts (33.6) 1.0
Payments on long-term debt (4.0) 0.0
Payments on finance leases (3.8) (5.6)
Net cash transfers to Parent and affiliates 0.0 (3.4)
Issuance of common stock under stock plans 0.8 0.0
Tax withholding payments for vested RSUs (6.4) 0.0
Net cash used by financing activities (47.0) (8.0)
Effect of exchange rate changes on cash (0.8) 0.6
Net increase in cash and cash equivalents 39.0 7.5
Cash and cash equivalents at beginning of period 47.1 48.3
Cash and cash equivalents at end of period 86.1 55.8
Cash paid for interest, net 8.3 0.1
Cash paid for taxes, net $ 4.0 $ 4.7