XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Cash flows from operating activities:    
Net income $ 18.9 $ 21.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24.3 26.1
Stock-based compensation expense 9.6 7.3
Provision for credit losses 0.1 0.4
Amortization of debt issuance cost 0.5 0.5
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 22.4 34.8
Decrease (increase) in inventories 23.9 (7.1)
Decrease (increase) in other current assets 7.0 (5.9)
Decrease (increase) in lease receivable, net 0.7 (8.8)
Decrease (increase) in deferred costs and other contract assets (0.6) (1.0)
Decrease (increase) in other non-current assets (0.8) (2.7)
Increase (decrease) in accounts payable (40.6) (27.1)
Increase (decrease) in accrued compensation 3.2 (16.5)
Increase (decrease) in accrued liabilities 2.3 (21.8)
Increase (decrease) in income tax payable (5.8) (8.3)
Increase (decrease) in deferred revenue and other contract-related liabilities (13.9) 0.9
Increase (decrease) in other non-current liabilities (5.4) 8.3
Net cash provided by (used in) operating activities 45.8 0.4
Cash flows from investing activities:    
Purchases of property and equipment, net (8.2) (8.5)
Increase in intangible assets (10.6) (9.7)
Business combinations, net of cash acquired 0.0 7.5
Other strategic investing activities (0.1) (0.4)
Net cash (used in) provided by investing activities (18.9) (11.1)
Cash flows from financing activities:    
Borrowings under line of credit 64.0 44.4
Repayments on line of credit (92.3) (72.4)
Proceeds from issuance of common stock 7.1 4.9
Payroll tax withholdings on behalf of employees for vested equity awards (5.3) (12.1)
Net cash (used in) provided by financing activities (26.5) (35.2)
Effect of foreign currency exchange rates on cash (4.6) 17.4
Net decrease in cash, cash equivalents and restricted cash (4.2) (28.5)
Cash, cash equivalents and restricted cash at beginning of period 168.2 209.6
Cash, cash equivalents and restricted cash at end of period $ 164.0 $ 181.1