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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 28, 2024
Mar. 30, 2024
Sep. 30, 2023
Apr. 01, 2023
Sep. 28, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash Flows From Operating Activities              
Net income (loss) $ (21.0) $ 2.0 $ 14.2 $ (3.0) $ (127.3) $ 19.6  
Adjustments to derive cash flows:              
Depreciation and amortization         245.6 273.6  
Impairment charges 16.2   0.0   50.3 0.0  
Share-based compensation         44.5 58.2  
Restructuring charges         43.1 25.7  
Settlement of interest rate derivatives         41.2 0.0  
Dedesignation of interest rate swap agreements         14.4 0.0  
Amortization of debt discount         1.1 1.8  
Deferred income taxes         (13.5) 12.3  
Gain on sale of assets         (26.0) (4.0)  
Gain on sale of business         (5.8) 0.0  
Other non-cash adjustments, net         19.2 (2.7)  
Subtotal         286.8 384.5  
(Decrease) increase in cash due to:              
Accrued income taxes         (134.6) (54.4)  
Payroll and related taxes         (73.9) (52.7)  
Accounts receivable         (69.3) (70.6)  
Inventories         (14.7) (5.5)  
Accounts payable         (4.9) (92.9)  
Prepaid expenses and other current assets         0.5 35.9  
Accrued customer programs         2.0 20.5  
Other accrued liabilities         22.4 13.2  
Other operating, net         36.0 18.8  
Subtotal         (236.5) (187.7)  
Net cash from operating activities         50.3 196.8  
Cash Flows From (For) Investing Activities              
Net proceeds from sale of businesses         205.5 0.0  
Proceeds from sale of assets         33.3 2.0  
Proceeds from royalty rights         3.5 18.3  
Additions to property, plant and equipment         (80.6) (75.0)  
Settlement of foreign currency derivatives         (45.8) 0.0  
Net cash from (for) investing activities         115.9 (54.7)  
Cash Flows From (For) Financing Activities              
Issuances of long-term debt         1,092.7 0.0  
Payments on long-term debt         (420.4) (24.0)  
Cash dividends         (112.9) (112.1)  
Other financing, net         (16.3) (6.5)  
Net cash from (for) financing activities         543.1 (142.6)  
Effect of exchange rate changes on cash and cash equivalents         2.9 (1.9)  
Net increase (decrease) in cash and cash equivalents         712.2 (2.4)  
Cash, cash equivalents and restricted cash of continuing operations, beginning of period   $ 751.3   $ 600.7 751.3 600.7 $ 600.7
Cash, cash equivalents and restricted cash of continuing operations, end of period $ 1,463.5   $ 598.3   $ 1,463.5 $ 598.3 $ 751.3