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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Jan. 02, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 494,900,000 $ 235,800,000 $ 192,200,000
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities (Net of Acquisitions and Divestitures):      
Depreciation 121,900,000 93,200,000 84,100,000
Amortization 185,500,000 77,400,000 47,300,000
Goodwill Impairment 0 33,000,000.0 10,500,000
Asset Impairments 900,000 5,600,000 5,300,000
Noncash Lease Expense 31,900,000 26,100,000 24,500,000
Share-Based Compensation Expense 22,500,000 24,900,000 9,200,000
Financing Fee Amortization 19,600,000 19,200,000 1,500,000
Early Debt Extinguishment Charge 0 12,700,000 0
Benefit from Deferred Income Taxes (80,100,000) (8,700,000) (17,000,000.0)
Loss on Disposition of Assets 2,700,000 200,000 2,900,000
Other Non-Cash Changes 0 800,000 5,800,000
Change in Operating Assets and Liabilities, Net of Acquisitions and Divestitures      
Receivables (38,100,000) (154,500,000) 29,600,000
Inventories (174,400,000) (174,400,000) (1,600,000)
Accounts Payable (129,500,000) 156,600,000 15,200,000
Current Liabilities and Other (21,600,000) 9,800,000 25,900,000
Net Cash Provided by Operating Activities 436,200,000 357,700,000 435,400,000
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions to Property, Plant and Equipment (83,800,000) (54,500,000) (47,500,000)
Business Acquisitions, Net of Cash Acquired (35,000,000.0) (125,500,000) 0
Proceeds from Sale of Property, Plant and Equipment 5,500,000 4,300,000 10,500,000
Net Cash Used in Investing Activities (113,300,000) (175,700,000) (37,000,000.0)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings Under Revolving Credit Facility 2,119,600,000 1,475,700,000 1,088,500,000
Repayments Under Revolving Credit Facility (2,427,300,000) (739,000,000.0) (1,106,200,000)
Proceeds from Short-Term Borrowings 10,200,000 17,200,000 2,600,000
Repayments of Short-Term Borrowings (9,100,000) (15,700,000) (2,300,000)
Proceeds from Long-Term Borrowings 1,536,800,000 0 100,000
Repayments of Long-Term Borrowings (1,123,700,000) (451,100,000) (50,400,000)
Dividends Paid to Shareholders (90,900,000) (335,600,000) (48,700,000)
Proceeds from the Exercise of Stock Options 5,100,000 2,600,000 200,000
Shares Surrendered for Taxes (8,900,000) (8,900,000) (3,600,000)
Early Debt Extinguishment Payments 0 (12,700,000) 0
Financing Fees Paid (40,600,000) (19,800,000) 0
Repurchase of Common Stock (239,200,000) (25,800,000) (25,000,000.0)
Distributions to Noncontrolling Interests (6,200,000) (4,500,000) (2,800,000)
Net Cash Used in Financing Activities (274,200,000) (117,600,000) (147,600,000)
EFFECT OF EXCHANGE RATES ON CASH and CASH EQUIVALENTS (33,000,000.0) (2,900,000) 29,100,000
Net Increase in Cash and Cash Equivalents 15,700,000 61,500,000 279,900,000
Cash and Cash Equivalents at Beginning of Period 672,800,000 611,300,000 331,400,000
Cash and Cash Equivalents at End of Period 688,500,000 672,800,000 611,300,000
Cash Paid During the Year for:      
Interest 66,700,000 35,200,000 38,600,000
Income Taxes 187,600,000 103,100,000 44,300,000
Non-Cash Investing: Issuance of Common Stock and Replacement Equity-Based Awards in Connection with Rexnord Transaction $ 0 $ 3,943,400,000 $ 0