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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 02, 2023
Jun. 26, 2022
Cash flows from operating activities:    
Net earnings (loss) $ (256.6) $ 203.4
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Depreciation of plant and equipment 54.6 61.7
Amortization of intangibles 45.9 54.3
Impairment of goodwill 231.2 0.0
Impairment of intangible assets 65.0 0.0
Program cost amortization 256.9 219.2
Deferred income taxes (24.9) (45.4)
Stock-based compensation 36.6 43.0
Other non-cash items (2.0) 4.5
Change in operating assets and liabilities net of acquired balances:    
Decrease in accounts receivable 237.5 517.5
Increase in inventories (48.4) (324.7)
(Increase) decrease in prepaid expenses and other current assets (14.6) 13.9
Program spend, net (251.8) (296.2)
Decrease in accounts payable and accrued liabilities (192.1) (273.0)
Change in net deemed repatriation tax (34.4) (18.4)
Other 16.3 (12.0)
Net cash provided by operating activities 119.2 147.8
Cash flows from investing activities:    
Additions to property, plant and equipment (112.1) (75.8)
Acquisitions 0.0 (146.3)
Other (3.7) 9.5
Net cash utilized by investing activities (115.8) (212.6)
Cash flows from financing activities:    
Proceeds from borrowings with maturity greater than three months 1.6 2.1
Repayments of borrowings with maturity greater than three months (90.7) (152.5)
Net proceeds from other short-term borrowings 6.6 97.2
Purchases of common stock 0.0 (124.0)
Stock-based compensation transactions 0.0 74.2
Dividends paid (193.8) (191.9)
Payments related to tax withholding for share-based compensation (14.5) (19.6)
Other (5.4) (5.4)
Net cash utilized by financing activities (296.2) (319.9)
Effect of exchange rate changes on cash (3.7) (6.3)
Net decrease in cash, cash equivalents and restricted cash (296.5) (391.0)
Cash, cash equivalents and restricted cash at beginning of year 513.1 1,019.2
Cash, cash equivalents and restricted cash at end of period 216.6 628.2
Cash paid during the period for:    
Interest 87.1 75.4
Income taxes $ 84.6 $ 95.1