XML 19 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements Of Cash Flows (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jul. 01, 2022
Cash flow from operating activities:    
Net income $ 173.4 $ 278.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 19.9 20.0
Amortization expense 96.8 66.9
Deferred income taxes (61.8) (24.9)
Stock-based compensation 73.9 61.3
Change in fair value of derivatives (27.2) (0.7)
Divestitures gain, net (5.1) (97.1)
Other, net 17.8 13.3
(Increase) decrease in assets:    
Accounts receivable, net 20.2 (1.5)
Inventories 24.2 (72.4)
Other current and non-current assets (19.3) (25.6)
Increase (decrease) in liabilities:    
Accounts payable (1.7) (7.9)
Accrued compensation and benefits 4.5 (46.4)
Deferred revenue (13.3) 67.3
Other current and non-current liabilities 48.8 (28.8)
Net cash provided by operating activities 351.1 201.8
Cash flow from investing activities:    
Acquisitions of businesses, net of cash acquired (2,080.5) 0.0
Purchases of property and equipment (19.0) (28.5)
Net proceeds from divestitures 9.2 210.5
Other, net 40.1 (9.7)
Net cash (used in) provided by investing activities (2,050.2) 172.3
Cash flow from financing activities:    
Issuance of common stock, net of tax withholdings (9.6) (21.7)
Repurchases of common stock 0.0 (304.7)
Proceeds from debt and revolving credit lines 3,010.8 138.2
Payments on debt and revolving credit lines (1,332.7) (138.2)
Other, net (6.5) (8.9)
Net cash provided by (used in) financing activities 1,662.0 (335.3)
Effect of exchange rate changes on cash and cash equivalents 3.4 (14.4)
Net (decrease) increase in cash and cash equivalents (33.7) 24.4
Cash and cash equivalents - beginning of period 271.0 325.7
Cash and cash equivalents - end of period $ 237.3 $ 350.1