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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 29, 2024
Oct. 01, 2023
Cash flows from operating activities of continuing operations:    
Net income $ 206,331 $ 325,223
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss from discontinued operations 493 1,166
Depreciation expense 54,826 52,687
Intangible asset amortization expense 147,983 125,230
Deferred financing costs and debt discount amortization expense 2,562 2,547
Pension settlement charge 132,732 0
Fair value step up of acquired inventory sold 1,722 0
Changes in contingent consideration 7,446 (24,482)
Asset impairment charges 2,110 0
Stock-based compensation 23,727 22,135
Deferred income taxes, net (60,648) 2,076
Payments for contingent consideration 0 (289)
Interest benefit on swaps designated as net investment hedges (12,031) (15,459)
Other 1,970 4,743
Changes in assets and liabilities, net of effects of acquisitions and disposals:    
Accounts receivable (25,294) (18,313)
Inventories (11,635) (50,702)
Prepaid expenses and other assets 40,446 7,487
Accounts payable, accrued expenses and other liabilities (1,623) (16,674)
Income taxes receivable and payable, net (75,493) (45,014)
Net cash provided by operating activities from continuing operations 435,624 372,361
Cash flows from investing activities of continuing operations:    
Expenditures for property, plant and equipment (94,412) (63,768)
Payments for businesses and intangibles acquired, net of cash acquired (120) (205)
Net proceeds on swaps designated as net investment hedges 18,262 10,275
Proceeds from sales of investments 7,300 7,300
Purchase of investments (7,300) (11,300)
Net cash used in investing activities from continuing operations (76,270) (57,698)
Cash flows from financing activities of continuing operations:    
Proceeds from new borrowings 130,000 646,000
Reduction in borrowings (188,375) (321,625)
Repurchase of common stock (200,000) 0
Net proceeds from share based compensation plans and related tax impacts 3,555 534
Payments for contingent consideration (182) (949)
Dividends paid (47,808) (47,919)
Net cash (used in) provided by financing activities from continuing operations (302,810) 276,041
Cash flows from discontinued operations:    
Net cash used in operating activities (2,355) (579)
Net cash used in discontinued operations (2,355) (579)
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents 728 (660)
Net increase in cash, cash equivalents and restricted cash equivalents 54,917 589,465
Cash, cash equivalents and restricted cash equivalents at the beginning of the period 222,848 292,034
Cash, cash equivalents and restricted cash equivalents at the end of the period $ 277,765 $ 881,499