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Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
Jan. 01, 2023
USD ($)
Jan. 02, 2022
USD ($)
Cash flows from operating activities:      
Net earnings (loss) $ 36.4 $ (62.5) $ 156.1
Adjustments to reconcile net earnings to net cash from operating activities:      
Asset impairment charge 2.4 0.0 0.0
Goodwill impairment charge 0.0 41.0 0.0
Deferred income taxes (24.9) (72.1) 21.6
Loss on disposal 0.0 18.7 0.0
Depreciation and amortization 33.9 33.4 29.8
Operating lease asset amortization 16.2 18.5 21.2
Provision for credit losses and sales allowances 1.6 1.5 1.6
Stock-based compensation 9.7 7.8 5.1
Gain on sale of equity securities (2.0) 0.0 0.0
Unrealized loss on forward contract 3.6 0.0 0.0
(Gain) loss on investment in Persol Holdings 0.0 67.2 (121.8)
Loss on currency translation from liquidation of subsidiary 0.0 20.4 0.0
Gain on foreign currency remeasurement 0.0 (5.5) 0.0
Gain on insurance settlement 0.0 0.0 (19.0)
Gain on sale of assets 0.0 (6.2) 0.0
Equity in net earnings of PersolKelly Pte. Ltd. 0.0 (0.8) (5.4)
Other, net 1.8 3.3 6.0
Changes in operating assets and liabilities, net of acquisitions (2.0) (141.0) (10.2)
Net cash from (used in) operating activities 76.7 (76.3) 85.0
Cash flows from investing activities:      
Capital expenditures (15.3) (12.0) (11.2)
Proceeds from sale of assets 0.0 10.1 0.0
Acquisition of companies, net of cash received 0.0 (143.1) (213.0)
Cash disposed from sale of Russia, net of proceeds 0.0 (6.0) 0.0
Proceeds from sale of Persol Holdings investment 0.0 196.9 0.0
Proceeds from sale of equity method investment 0.0 119.5 0.0
Proceeds from company-owned life insurance 0.0 1.5 12.2
Proceeds from insurance settlement 0.0 0.0 19.0
Proceeds from loans to equity affiliate 0.0 0.0 5.9
Proceeds from equity securities 2.0 0.0 5.0
Other investing activities (0.8) 0.6 1.4
Net cash (used in) from investing activities (14.1) 167.5 (180.7)
Cash flows from financing activities:      
Net change in short-term borrowings (0.7) 0.8 (0.2)
Financing lease payments (1.2) (1.4) (1.5)
Dividend payments (11.0) (10.6) (4.0)
Payments of tax withholding for stock awards (1.8) (0.9) (0.6)
Contingent consideration payments (2.5) (3.3) (1.6)
Other financing activities (0.2) (0.2) (0.2)
Net cash used in financing activities (59.6) (50.6) (8.1)
Effect of exchange rates on cash, cash equivalents and restricted cash 2.2 2.3 (4.8)
Net change in cash, cash equivalents and restricted cash 5.2 42.9 (108.6)
Cash, cash equivalents and restricted cash at beginning of year 162.4 [1] 119.5 [1] 228.1
Cash, cash equivalents and restricted cash at end of year 167.6 [1] 162.4 [1] 119.5 [1]
Cash and equivalents 125.8 153.7 112.7
Cash included in assets held for sale 33.5 0.0 0.0
Restricted cash included in prepaid expenses and other current assets 0.3 0.1 0.2
Restricted cash included in other assets 8.0 8.6 6.6
Common Stock      
Cash flows from financing activities:      
Buyback of common shares 0.0 (27.2) 0.0
Treasury Stock      
Cash flows from financing activities:      
Buyback of common shares $ (42.2) $ (7.8) $ 0.0
[1] (1) The following table provides a reconciliation of cash, cash equivalents and restricted cash to the amounts reported in our consolidated balance sheet: