XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Cash flows from operating activities:    
Net income $ 47.6 $ 102.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 75.8 56.6
Stock-based compensation (benefit) expense (2.4) 41.7
Gain on disposal of equipment, intangibles and other assets 0.6 0.1
Provision for credit losses 1.1 1.2
Amortization of debt issuance cost 1.4 0.9
Impairment charge 7.0 0.0
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 84.8 (66.7)
(Increase) decrease in inventories (93.1) (71.0)
(Increase) decrease in other current assets (14.6) 11.7
(Increase) decrease in lease receivable, net (6.8) (5.9)
(Increase) decrease in deferred costs and other contract assets (2.9) (31.6)
(Increase) decrease in other non-current assets (42.0) (22.2)
Increase (decrease) in accounts payable 3.6 69.6
Increase (decrease) in accrued compensation (32.8) (6.9)
Increase (decrease) in accrued liabilities (19.5) (26.5)
Increase (decrease) in income tax payable (7.1) (8.4)
Increase (decrease) in deferred revenue and other contract-related liabilities (6.2) 19.7
Increase (decrease) in other non-current liabilities 22.5 (28.9)
Net cash provided by operating activities 17.0 36.0
Cash flows from investing activities:    
Purchases of property and equipment, net (33.1) (36.0)
Increase in intangible assets (29.3) (13.9)
Business combinations, net of cash acquired 7.5 (985.0)
Other strategic investing activities (1.0) 0.0
Net cash used in investing activities (55.9) (1,034.9)
Cash flows from financing activities:    
Borrowings under line of credit 139.5 1,050.6
Repayments on line of credit (154.3) (96.3)
Debt issuance costs 0.0 (9.3)
Proceeds from issuance of common stock 6.7 6.9
Payroll tax withholdings on behalf of employees for vested equity awards (12.7) (25.4)
Repurchases of common stock 0.0 (401.4)
Net cash (used in) provided by financing activities (20.8) 525.1
Effect of foreign currency exchange rates on cash (17.6) (52.5)
Net decrease in cash, cash equivalents and restricted cash (77.3) (526.3)
Cash, cash equivalents and restricted cash at beginning of period 209.6 748.4
Cash, cash equivalents and restricted cash at end of period $ 132.3 $ 222.1