XML 27 R10.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Jan. 01, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (Loss) Income $ (54.3) $ 494.9 $ 235.8
Adjustments to Reconcile Net (Loss) Income to Net Cash Provided by Operating Activities (Net of Acquisitions and Divestitures):      
Depreciation 185.0 121.9 93.2
Amortization 307.8 185.5 77.4
Goodwill, impairment loss 57.3 0.0 33.0
Asset Impairments 7.8 0.9 5.6
Loss on Assets Held for Sale 87.7 0.0 0.0
Noncash Lease Expense 42.9 31.9 26.1
Share-Based Compensation Expense 58.2 22.5 24.9
Financing Fee Expense 32.8 19.6 19.2
Early Debt Extinguishment Charge 0.0 0.0 12.7
Benefit from Deferred Income Taxes (115.3) (80.1) (8.7)
Other Non-Cash Changes 9.0 2.7 1.0
Change in Operating Assets and Liabilities, Net of Acquisitions and Divestitures      
Receivables 51.7 (38.1) (154.5)
Inventories 262.6 (174.4) (174.4)
Accounts Payable (70.1) (129.5) 156.6
Other Assets and Liabilities (147.8) (21.6) 9.8
Net Cash Provided by Operating Activities 715.3 436.2 357.7
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions to Property, Plant and Equipment (119.1) (83.8) (54.5)
Business Acquisitions, Net of Cash Acquired (4,870.2) (35.0) (125.5)
Proceeds Received from Sales of Property, Plant and Equipment 6.3 5.5 4.3
Net Cash Used in Investing Activities (4,983.0) (113.3) (175.7)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings Under Revolving Credit Facility 2,294.1 2,119.6 1,475.7
Repayments Under Revolving Credit Facility (2,625.0) (2,427.3) (739.0)
Proceeds from Short-Term Borrowings 58.0 10.2 17.2
Repayments of Short-Term Borrowings (61.2) (9.1) (15.7)
Proceeds from Long-Term Borrowings 5,532.9 1,536.8 0.0
Repayments of Long-Term Borrowings (826.3) (1,123.7) (451.1)
Dividends Paid to Shareholders (92.8) (90.9) (335.6)
Proceeds from the Exercise of Stock Options 3.3 5.1 2.6
Shares Surrendered for Taxes (12.1) (8.9) (8.9)
Early Debt Extinguishment Payments 0.0 0.0 (12.7)
Financing Fees Paid (51.1) (40.6) (19.8)
Repurchase of Common Stock 0.0 (239.2) (25.8)
Distributions to Noncontrolling Interests (16.2) (6.2) (4.5)
Net Cash Provided by (Used in) Financing Activities 4,203.6 (274.2) (117.6)
EFFECT OF EXCHANGE RATES ON CASH and CASH EQUIVALENTS 10.9 (33.0) (2.9)
Net (Decrease) Increase in Cash and Cash Equivalents (53.2) 15.7 61.5
Cash and Cash Equivalents at Beginning of Period 688.5 672.8 611.3
Cash and Cash Equivalents at End of Period 635.3 688.5 672.8
Cash Paid For:      
Interest 319.6 66.7 35.2
Income Taxes 206.9 187.6 103.1
Non-Cash Investing: Issuance of Common Stock and Replacement Equity-Based Awards in Connection with Rexnord Transaction 0.0 0.0 3,943.4
Cash and Cash Equivalents Presentation:      
Cash and Cash Equivalents 574.0 688.5 672.8
Cash and Cash Equivalents 61.3 0.0 0.0
Total Cash and Cash Equivalents $ 635.3 $ 688.5 $ 672.8