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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 02, 2021
Sep. 26, 2020
Oct. 02, 2021
Sep. 26, 2020
OPERATING ACTIVITIES        
Net earnings [1] $ 414.1 $ 395.2 $ 1,359.4 $ 767.0
Adjustments to reconcile net earnings to cash provided by operating activities:        
Depreciation and amortization of property, plant and equipment 93.9 94.1 279.3 281.1
Amortization of intangibles 50.3 51.2 151.3 150.0
Loss on sales of businesses [1] 0.0 0.0 3.6 0.0
Share of net earnings of equity method investment [1] (9.8) (4.0) (16.0) (14.1)
Changes in working capital (456.7) 51.6 (1,373.5) (667.5)
Changes in other assets and liabilities (87.2) 89.1 (112.9) 83.7
Cash provided by operating activities 4.6 677.2 291.2 600.2
INVESTING ACTIVITIES        
Capital and software expenditures (129.1) (62.1) (322.5) (209.5)
Business acquisitions, net of cash acquired (9.3) 1.4 (10.8) (1,300.6)
Purchases of investments (3.5) (1.0) (14.5) (14.6)
Net investment hedge settlements (1.3) 0.0 (53.9) 41.0
Other 0.2 (2.1) 2.0 (0.6)
Cash used in investing activities (143.0) (63.8) (399.7) (1,484.3)
FINANCING ACTIVITIES        
Proceeds from debt issuances, net of fees 0.0 0.0 0.0 1,482.6
Stock purchase contract fees (9.9) (9.8) (29.5) (49.9)
Net short-term borrowings (repayments) 149.6 (712.9) 150.7 (341.8)
Proceeds from issuances of common stock 7.7 42.5 108.1 93.8
Proceeds from issuance of remarketed preferred stock 0.0 0.0 0.0 750.0
Purchases of common stock for treasury (2.8) (1.9) (20.1) (11.2)
Redemption and conversion of preferred stock 0.0 0.0 (750.0) 0.0
Craftsman deferred purchase price 0.0 0.0 0.0 (250.0)
Craftsman contingent consideration (7.6) (6.0) (21.5) (39.0)
Termination of interest rate swaps 0.0 0.0 0.0 (20.5)
Cash dividends on common stock (126.0) (109.6) (347.7) (321.0)
Cash dividends on preferred stock 0.0 (9.4) (18.9) (9.4)
Other (3.2) (3.1) (11.6) (10.1)
Cash provided by (used in) financing activities 7.8 (810.2) (940.5) 1,273.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash (15.5) 16.3 (45.9) (7.9)
Change in cash, cash equivalents and restricted cash (146.1) (180.5) (1,094.9) 381.5
Cash, cash equivalents and restricted cash, beginning of period 449.5 876.6 1,398.3 314.6
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 303.4 $ 696.1 $ 303.4 $ 696.1
[1] See Note A, Significant Accounting Policies - Restatement, for discussion regarding the impacts of the Restatement.