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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash Flows From Operating Activities:    
Net income $ 73 $ 107
Adjustments to reconcile net income to net cash in operating activities:    
Depreciation and amortization 52 49
Stock-based compensation expense 29 25
Other, net 17 6
Changes in assets and liabilities, net of acquired companies:    
Accounts receivable, net (57) (35)
Inventories, net (4) (15)
Other current assets 9 3
Accounts payable 31 44
Accrued liabilities (78) (94)
Other liabilities 22 27
Net cash provided by operating activities 94 117
Cash Flows From Investing Activities:    
Acquisitions, net of cash acquired (1,334) (6)
Capital expenditures (36) (49)
Other investing activities, net 6 0
Net cash used in investing activities (1,364) (55)
Cash Flows From Financing Activities:    
Proceeds from issuance of incremental term loans under the A&R Term B Facility, net 582 0
Proceeds from issuance of preferred stock, net of issuance costs 482 0
Repayments of long-term debt (6) (6)
Other financing activities, net (6) (12)
Net cash provided by (used in) financing activities 1,052 (18)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (5) 10
Net (decrease) increase in cash, cash equivalents and restricted cash (223) 54
Cash, cash equivalents and restricted cash at beginning of year 637 329
Cash, cash equivalents and restricted cash at end of year 414 383
Supplemental Cash Flow Information:    
Interest paid, net of swaps 38 46
Taxes paid, net of refunds 88 67
Capital expenditures in accounts payable $ 16 $ 20