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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2024
Apr. 02, 2023
Dec. 31, 2023
Operating Activities      
Net income (loss) including noncontrolling interest $ 179.1 $ 178.8  
Adjustments to reconcile net income (loss) including noncontrolling interest to net cash provided by (used in) operating activities:      
Depreciation and amortization 78.0 82.1  
Stock-based compensation 12.0 7.9  
Changes in operating assets and liabilities excluding the effect of business acquired:      
Accounts receivable and unbilled receivables 12.1 50.0  
Inventories (25.2) (57.6)  
Accounts payable 27.7 (10.8)  
Deferred taxes and income taxes receivable (payable), net 19.3 7.2  
Prepaid expenses and other assets (1.5) (11.3)  
Accrued expenses and other liabilities (21.8) (34.6)  
Other operating, net 11.3 (8.7)  
Net cash provided by (used in) operating activities 291.0 203.0  
Investing Activities      
Purchases of property, plant and equipment (15.9) (24.4)  
Purchase of businesses, net of cash acquired 0.0 (52.5)  
Net cash provided by (used in) investing activities (15.9) (76.9)  
Financing Activities      
Net borrowings from (repayments made to) credit facility 0.0 (100.0)  
Proceeds from (payments on) other debt (0.1) (0.1)  
Proceeds from exercise of stock options 9.1 10.2  
Liquidation (maturity) of cross currency swap 0.0 (13.5)  
Other financing, net (2.9) 0.0  
Net cash provided by (used in) financing activities 6.1 (103.4)  
Effect of exchange rate changes on cash (17.1) 4.4  
Change in cash and cash equivalents 264.1 27.1  
Cash and cash equivalents—beginning of period 648.3 638.1 $ 638.1
Cash and cash equivalents—end of period $ 912.4 $ 665.2 $ 648.3