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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 03, 2022
Jun. 27, 2021
Operating activities    
Net income $ 164.2 $ 155.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 52.7 40.3
Operating lease expense 86.8 73.3
Stock-based compensation 5.8 5.4
Provision for credit losses 0.4 (0.2)
Loss on extinguishment of debt 0.0 10.3
Amortization of debt issuance costs 1.4 1.9
Deferred income taxes (2.3) 5.6
Change in contingent consideration liabilities 3.0 0.0
Other 3.7 (0.2)
Changes in operating assets and liabilities:    
Operating lease payments (95.9) (69.7)
Accounts receivable and other assets 66.7 32.2
Accounts payable and accrued expenses (56.2) (3.6)
Net cash provided by operating activities 230.3 250.7
Investing activities    
Acquisition of business, net of cash acquired 0.0 (4.0)
Purchases of property, equipment and computer software (75.1) (57.8)
Proceeds from the sale of property and equipment 38.7 0.4
Other (1.6) (1.3)
Net cash used by investing activities (38.0) (62.7)
Financing activities    
Net increase in book overdrafts 49.3 0.0
Proceeds from debt issuance 0.0 650.0
Payments of long-term debt (173.1) (774.0)
Deferred financing costs (0.1) (4.6)
Finance lease payments (6.7) (5.9)
Purchase of treasury stock (27.2) 0.0
Issuance of common stock under stock plans 0.3 0.4
Proceeds from issuance of employee stock purchase plan shares 0.7 0.8
Tax withholding payments for vested RSUs (6.9) (7.2)
Payment of contingent consideration (51.4) 0.0
Net cash used by financing activities (215.1) (140.5)
Effect of exchange rate changes on cash (2.0) 1.8
Net (decrease) increase in cash, cash equivalents and restricted cash (24.8) 49.3
Cash, cash equivalents and restricted cash at beginning of period 162.4 232.8
Cash, cash equivalents and restricted cash at end of period 137.6 282.1
Cash paid for interest, net 21.8 23.5
Cash paid for taxes, net 53.5 44.7
Reconciliation of cash, cash equivalents and restricted cash reported in balance sheets    
Cash and cash equivalents 137.6  
Restricted cash 0.0  
Total cash, cash equivalents and restricted cash shown in statements of cash flows $ 137.6 $ 282.1