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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 27, 2021
Jun. 28, 2020
OPERATING ACTIVITIES    
Net income $ 79.2 $ 52.2
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 16.0 15.3
Amortization of intangibles 7.3 7.6
Loss on disposal and impairment of property, plant and equipment and other 0.7 1.3
Stock-based compensation 9.9 5.4
Deferred income tax (4.8) 1.9
Changes in operating assets and liabilities, net of effects from business acquisitions and divestitures:    
Accounts receivable (60.8) 9.2
Inventories (52.1) (14.3)
Prepaid expenses and other assets (7.5) (1.3)
Accounts payable, accrued expenses and other liabilities 85.3 (30.0)
Net cash provided by operating activities 73.2 47.3
INVESTING ACTIVITIES    
Additions to property, plant and equipment (13.0) (23.8)
Proceeds from sale of property, plant, and equipment 4.9 1.5
Net cash used in investing activities (8.1) (22.3)
FINANCING ACTIVITIES    
Proceeds from long-term borrowings 35.0 407.5
Payments of long-term debt (40.0) (452.5)
Payments for withholding taxes on vested awards (9.2) (7.8)
Payments for finance leases and other (0.6) (1.0)
Debt issuance costs (2.4) (2.2)
Payments to repurchase common stock (7.8) (21.1)
Dividends (16.7) (15.8)
Net cash used in financing activities (41.7) (92.9)
Effect of exchange rate changes on cash and cash equivalents (2.2) (3.1)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 21.2 (71.0)
Cash and cash equivalents at beginning of year 218.9 219.7
CASH AND CASH EQUIVALENTS AT END OF PERIOD 240.1 148.7
NON CASH INVESTING AND FINANCING ACTIVITIES    
Issuance of stock under management stock purchase plan 0.5 0.7
CASH PAID FOR:    
Interest 3.9 7.2
Income taxes $ 31.1 $ 12.4