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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
May 01, 2022
May 02, 2021
OPERATING ACTIVITIES    
Net income $ 133.1 $ 99.7
Adjustments to reconcile to net cash used by operating activities:    
Depreciation and amortization 76.8 77.6
Equity in net income of unconsolidated affiliates (7.4) (3.7)
Deferred taxes (0.9) 31.3
Stock-based compensation expense 10.1 10.7
Impairment of other long-lived assets 0.0 28.1
Changes in operating assets and liabilities:    
Trade receivables, net (109.4) (211.7)
Other receivables (21.2) (5.4)
Inventories, net (78.1) (36.5)
Accounts payable, accrued expenses and deferred revenue (271.4) (168.9)
Prepaid expenses (36.7) (9.6)
Other, net 1.7 (0.7)
Net cash used by operating activities (303.4) (189.1)
INVESTING ACTIVITIES    
Purchases of property, plant and equipment (52.4) (49.1)
Purchases of investments held in rabbi trust (5.1) 0.0
Proceeds from investments held in rabbi trust 0.4 0.0
Net cash used by investing activities (57.1) (49.1)
FINANCING ACTIVITIES    
Net proceeds from short-term borrowings 6.4 13.3
Repayment of 2019 facilities (6.9) (503.7)
Net proceeds from settlement of awards under stock plans 0.1 1.4
Cash dividends (2.6) 0.0
Acquisition of treasury shares (108.0) (9.2)
Payments of finance lease liabilities (1.0) (1.4)
Net cash used by financing activities (112.0) (499.6)
Effect of exchange rate on cash and cash equivalents (21.3) (0.4)
Decrease in cash and cash equivalents (493.8) (738.2)
Cash and cash equivalents at beginning of period 748.7 913.2
Cash and cash equivalents at end of period $ 748.7 $ 913.2