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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 27, 2020
Sep. 29, 2019
OPERATING ACTIVITIES    
Net income $ 85.1 $ 99.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 23.3 22.7
Amortization of intangibles 11.4 11.6
Loss on disposal and impairment of property, plant and equipment and other 3.3 0.7
Stock-based compensation 8.8 13.3
Deferred income tax (2.3) 2.0
Changes in operating assets and liabilities:    
Accounts receivable 14.5 (36.5)
Inventories 3.1 5.1
Prepaid expenses and other assets (3.8) 0.2
Accounts payable, accrued expenses and other liabilities (16.0) (23.9)
Net cash provided by operating activities 127.4 94.9
INVESTING ACTIVITIES    
Additions to property, plant and equipment (33.8) (19.1)
Proceeds from sale of property, plant, and equipment 1.5 0.1
Proceeds from sale of business 0.9  
Business acquisitions, net of cash acquired (7.7) (42.7)
Net cash used in investing activities (39.1) (61.7)
FINANCING ACTIVITIES    
Proceeds from long-term borrowings 407.5 82.0
Payments of long-term debt (467.5) (92.5)
Payments for withholding taxes on vested awards (7.8) (7.2)
Payments for finance leases (1.5) (1.1)
Payments on contractual call option   (2.8)
Proceeds from share transactions under employee stock plans   1.0
Debt issuance costs (2.2)  
Payments to repurchase common stock (24.8) (14.8)
Dividends (23.2) (23.6)
Net cash used in financing activities (119.5) (59.0)
Effect of exchange rate changes on cash and cash equivalents (0.2) (4.6)
DECREASE IN CASH AND CASH EQUIVALENTS (31.4) (30.4)
Cash and cash equivalents at beginning of year 219.7 204.1
CASH AND CASH EQUIVALENTS AT END OF PERIOD 188.3 173.7
Acquisition of businesses:    
Fair value of assets acquired 12.3 43.3
Cash paid, net of cash acquired 7.7 42.7
Liabilities assumed 4.6 0.6
Issuance of stock under management stock purchase plan 0.7 1.6
CASH PAID FOR:    
Interest 9.6 12.0
Income taxes $ 36.5 $ 38.9