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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 27, 2021
Jun. 28, 2020
Operating activities    
Net income $ 155.4 $ 77.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40.3 42.1
Operating lease expense 73.3 66.3
Stock-based compensation 5.4 4.5
Provision for credit losses (0.2) 3.6
Loss on extinguishment of debt 10.3 0.0
Amortization of debt issuance costs 1.9 2.0
Deferred income taxes 5.6 (1.5)
Gain on disposal of fixed assets (0.2) (0.1)
Changes in operating assets and liabilities, net of acquisitions:    
Operating lease payments (69.7) (63.8)
Accounts receivable and other assets 32.2 65.8
Accounts payable and accrued expenses (3.6) 20.5
Net cash provided by operating activities 250.7 217.3
Investing activities    
Acquisition of business, net of cash acquired (4.0) 0.0
Purchases of property, equipment and computer software (57.8) (22.1)
Proceeds from the sale of property and equipment 0.4 0.1
Other (1.3) 0.0
Net cash used by investing activities (62.7) (22.0)
Financing activities    
Net decrease in book overdrafts 0.0 (33.6)
Proceeds from debt issuance 650.0 0.0
Payments of long-term debt (774.0) (4.0)
Deferred financing costs 4.6 2.7
Finance lease payments (5.9) (7.5)
Issuance of common stock under stock plans 0.4 1.1
Proceeds from issuance of employee stock purchase plan shares 0.8 0.0
Tax withholding payments for vested RSUs (7.2) (8.0)
Net cash used by financing activities (140.5) (54.7)
Effect of exchange rate changes on cash 1.8 (0.7)
Net increase in cash and cash equivalents 49.3 139.9
Cash and cash equivalents at beginning of period 232.8 47.1
Cash and cash equivalents at end of period 282.1 187.0
Cash paid for interest, net 23.5 28.9
Cash paid for taxes, net $ 44.7 $ 6.2