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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jul. 04, 2025
Jun. 28, 2024
Jul. 04, 2025
Jun. 28, 2024
Jan. 03, 2025
Cash flows from operating activities:          
Net income $ 58 $ 107 $ 173 $ 201  
Net income (loss) from discontinued operations, net of tax 48 (1) 54 (1)  
Net income from continuing operations 106 106 227 200  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization 45 35 86 71  
Equity in earnings of unconsolidated affiliates (51) (40) (93) (70)  
Deferred income tax     26 18  
Gain on disposition of assets     0 (6)  
Other     4 0  
Changes in operating assets and liabilities:          
Accounts receivable, net of allowance for credit losses     (128) (15)  
Contract assets     (6) (39)  
Accounts payable     25 78  
Contract liabilities     (2) (3)  
Accrued salaries, wages and benefits     (9) 22  
Payments on operating lease obligation     (41) (32)  
Payments from unconsolidated affiliates, net     5 5  
Distributions of earnings from unconsolidated affiliates     124 99  
Pension funding     (1) (18)  
Other assets and liabilities     91 (54)  
Total cash flows provided by operating activities - continuing operations     308 256  
Cash flows from investing activities:          
Purchases of property, plant and equipment     (16) (24)  
Proceeds from sale of assets or investments     0 6  
Return of equity method investments, net     3 36  
Acquisition of business, net of cash acquired     (11) 0  
Other     0 1  
Total cash flows provided by (used in) investing activities - continuing operations     (24) 19  
Cash flows from financing activities:          
Borrowings on long-term debt     0 24  
Borrowings on Revolver     373 168  
Payments on short-term and long-term debt     (18) (81)  
Payments on Revolver     (323) (13)  
Payments to repurchase common stock     (204) (158)  
Payments on settlement of warrants     0 (33)  
Debt Issuance Costs     0 (16)  
Payments of dividends to shareholders     (41) (39)  
Other     (6) (10)  
Total cash flows used in financing activities - continuing operations     (219) (158)  
Total operating cash flows from discontinued operations     (27) 5  
Total investing cash flows from discontinued operations     (12) (11)  
Total financing cash flows from discontinued operations     8 0  
Total cash flows from discontinued operations     (31) (6)  
Effect of exchange rate changes on cash     20 (1)  
Increase in cash and cash equivalents     54 110  
Cash and cash equivalents at beginning of period     350 304 $ 304
Cash and cash equivalents at end of period 404 414 404 414 $ 350
Less: cash and cash equivalents of discontinued operations 1 15 1 15  
Cash and cash equivalents at end of period for continuing operations 403 399 403 399  
Noncash financing activities          
Dividends declared $ 21 $ 20 $ 21 $ 20