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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 29, 2024
Oct. 01, 2023
OPERATING ACTIVITIES    
Net loss $ (1,873.6) $ (17.1)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 344.1 341.8
Goodwill impairment charge 1,743.9 0.0
Asset impairment charge 56.9 3.2
Stock-based compensation expense 32.5 39.3
Change in deferred tax assets and liabilities (72.6) (4.5)
Payment of accreted interest on deferred consideration 0.0 (9.7)
Other non-cash, net (5.0) (3.5)
Changes in assets and liabilities:    
Accounts receivable 7.6 124.1
Inventories (110.9) (146.0)
Prepaid expenses and other current and non-current assets (23.5) (35.1)
Accounts payable (16.9) (6.3)
Accrued payroll and related expenses 27.7 (31.0)
Income taxes payable (80.5) (51.3)
Other current and non-current liabilities (10.4) (4.1)
Net cash provided by operating activities 19.3 199.8
INVESTING ACTIVITIES    
Acquisitions of property, plant, equipment, investments and intangibles (147.9) (160.7)
Proceeds from government assistance allocated to fixed assets 0.0 10.5
Purchases of marketable securities (7.2) (50.6)
Proceeds from sale of marketable securities 63.1 68.3
Other payments (20.0) 0.0
Net cash used for investing activities (112.0) (132.5)
FINANCING ACTIVITIES    
Proceeds from issuance of common stock 5.0 8.1
Short-term borrowings, net (1.6) 2.9
Revolving credit facility, net 230.0 0.0
Payments on long-term borrowings (107.0) (175.7)
Payments of tax withholdings related to vesting of stock-based awards (8.7) (13.0)
Principal payments of deferred consideration 0.0 (30.3)
Net cash provided by (used for) financing activities 117.7 (208.0)
Effect of exchange rates on cash (0.5) (3.3)
Net increase (decrease) in cash, cash equivalents and restricted cash 24.5 (144.0)
Cash, cash equivalents and restricted cash at beginning of period 119.5 293.9
Cash, cash equivalents and restricted cash at end of period 144.0 149.9
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Purchase of property, equipment and intangibles by incurring current liabilities 16.1 11.4
Capital expenditures to be reimbursed under a government contract 0.0 3.0
Transfer of instrument inventories to fixed assets 99.4 105.8
Reduction of accrued payroll and related expenses upon issuance of restricted share units 0.3 1.9
Initial recognition of finance lease right-of-use asset and liability $ 12.5 $ 0.0