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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jul. 02, 2023
Jul. 03, 2022
Operating Activities:    
Net income $ 65.7 $ 90.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 47.2 47.9
Non-cash pension settlement charge 0.0 1.5
Reduction of right of use asset 7.0 6.2
Other non-cash items, net 10.1 10.5
Pension plan funding 0.0 (2.3)
Net changes in operating assets and liabilities (50.8) (121.0)
Net cash provided by operating activities 79.2 33.2
Investing Activities:    
Purchases of property, plant and equipment, net (45.9) (40.2)
Payments related to acquisition of business, net of cash acquired (1.8) (22.3)
Proceeds from sale of assets 0.2 0.3
Proceeds from sale of short-term investments 7.0 5.5
Purchases of short-term investments (9.1) (2.0)
Other investing activities 0.3 1.6
Net cash used in investing activities (49.3) (57.1)
Financing Activities:    
Repayment of long-term debt (7.4) (0.5)
Proceeds from issuance of short-term debt 0.0 30.0
Repayment of short-term debt (12.7) 0.0
Purchase of common stock for treasury 0.0 (40.7)
Proceeds from issuance of stock under option plan 0.2 1.1
Excess tax benefits related to stock incentive programs (2.8) (3.3)
Dividends paid to non-controlling interests 0.0 (6.3)
Cash dividends paid (3.3) (3.3)
Net cash used in financing activities (26.0) (23.0)
Effect of exchange rate changes on cash and cash equivalents (4.0) (17.9)
Net decrease in cash and cash equivalents (0.1) (64.8)
Cash and cash equivalents at beginning of period 247.2 [1] 299.5
Cash and cash equivalents at end of period 247.1 234.7
Supplemental disclosure of cash flow information:    
Interest paid 39.2 29.7
Income taxes paid 26.4 24.4
Non-cash financing activities:    
Treasury stock purchases settled after period end $ 0.0 $ 0.7
[1] Condensed from audited financial statements