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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Oct. 02, 2022
Oct. 03, 2021
Operating Activities:    
Consolidated net income $ 105.0 $ 126.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 71.2 71.0
Non-cash pension settlement charge 1.7 3.0
Reduction of right of use asset 9.5 9.2
Non-cash debt extinguishment expenses 6.9 0.0
Asset impairment charges 0.0 0.7
Pension plan funding (5.3) (7.6)
Other non-cash items 15.1 10.2
Net changes in operating assets and liabilities (140.5) (49.8)
Net cash provided by operating activities 63.6 163.1
Investing Activities:    
Purchases of property, plant and equipment, net (59.4) (63.0)
Cash paid for acquisitions, net of cash acquired (22.4) (186.9)
Proceeds from sale of assets 1.0 0.4
Proceeds from sale of short-term investments 6.1 7.8
Purchases of short-term investments (2.8) (5.2)
Other investing activities 1.6 2.2
Net cash used in investing activities (75.9) (244.7)
Financing Activities:    
Long-term debt issuance 550.0 0.0
Deferred financing costs (3.2) 0.0
Repayment of long-term debt (548.7) (1.0)
Proceeds from issuance of short-term debt 38.5 100.5
Purchase of common stock for treasury (56.0) (62.9)
Proceeds from issuance of stock under option plan 3.5 10.6
Excess tax benefits related to stock incentive programs (3.3) (2.8)
Dividends paid to non-controlling interests (6.3) (1.6)
Cash dividends paid (4.9) (5.1)
Net cash provided by (used in) financing activities (30.4) 37.7
Effect of exchange rate changes on cash and cash equivalents (32.7) (13.9)
Net decrease in cash and cash equivalents (75.4) (57.8)
Cash and cash equivalents at beginning of period 299.5 [1] 367.7
Cash and cash equivalents at end of period 224.1 309.9
Supplemental disclosure of cash flow information:    
Interest paid 35.1 32.4
Income taxes paid 28.9 34.0
Non-cash financing activities:    
Treasury stock purchases settled after period end $ 0.0 $ 0.6
[1] Condensed from audited financial statements