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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Operating activities    
Net income $ 51.4 $ 96.4
Non-cash adjustments:    
Depreciation 33.3 28.3
Amortization of intangible assets 18.0 17.8
Non-cash lease expense 9.4 9.3
Stock-based compensation 7.4 9.7
Deferred taxes 1.7 8.8
Other operating activities, net 0.9 1.2
Changes in operating assets and liabilities:    
Increase in accounts receivable (48.8) (81.4)
Increase in inventories (41.2) (43.7)
Increase in accounts payable 12.4 30.2
Increase in other assets (8.7) (14.8)
Decrease in accrued expenses and other liabilities (129.7) (137.1)
Increase in accrued taxes 10.5 4.0
Net cash used in operating activities (83.4) (71.3)
Investing activities    
Capital expenditures [1] (29.2) (64.6)
Cost of acquisitions, net of cash acquired 0.0 (105.2)
Net cash used in investing activities (29.2) (169.8)
Financing activities    
Issuance of long-term debt 420.0 465.0
Repayment of long-term debt (140.0) (90.0)
Proceeds from the exercise of stock options 0.6 6.3
Treasury stock purchases (175.0) (100.0)
Employee withholding taxes related to stock-based compensation (6.9) (12.4)
Dividends to stockholders (30.5) (30.1)
Other financing activities, net (0.2) (0.1)
Net cash provided by financing activities 68.0 238.7
Effect of foreign exchange rate changes on cash 3.0 (5.0)
Net decrease in cash and cash equivalents (41.6) (7.4)
Cash, cash equivalents and restricted cash at beginning of period [2] 385.5 395.5
Cash, cash equivalents and restricted cash at end of period [2] $ 343.9 $ 388.1
[1] Capital expenditures of $5.1 million and $9.2 million that had not been paid as of March 29, 2025 and March 30, 2024, respectively, were excluded from the Statement of Cash Flows.
[2] Restricted cash of $1.3 million and $2.6 million is included in Other current assets and Other assets, respectively, as of March 29, 2025 and restricted cash of $25.9 million and $2.5 million is included in Other current assets and Other assets, respectively, as of March 30, 2024. Restricted cash of $1.3 million and $3.1 million is included in Other current assets and Other assets, respectively, as of December 28, 2024.