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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 25, 2022
Dec. 26, 2021
OPERATING ACTIVITIES      
NET INCOME $ 182.0 $ 155.4 $ 182.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 49.0 47.3 44.4
Amortization of intangible assets 15.3 17.2 17.8
Restructuring charges, net of cash payments (9.4) 13.0 (0.4)
Amortization of finance fees 2.2 0.0 0.0
Stock-based compensation 17.8 10.9 9.3
Asset impairment charges 0.0 46.4 0.0
Recognition of actuarial losses (2.9) (0.9) (0.2)
Deferred taxes (5.7) 2.3 (7.7)
Changes in operating assets and liabilities:      
Accounts receivable 88.1 13.5 (72.2)
Inventories 123.6 (70.1) (58.5)
Other current assets 2.1 (5.3) (1.7)
Accounts payable (69.4) 18.3 44.7
Accrued expenses and other current liabilities 17.2 1.8 3.0
Other items (10.1) (16.0) (13.3)
NET CASH PROVIDED BY OPERATING ACTIVITIES 405.6 235.6 148.2
INVESTING ACTIVITIES      
Capital expenditures [1] (57.3) (55.9) (51.6)
Proceeds from the disposition of assets 0.4 0.0 0.1
NET CASH USED IN INVESTING ACTIVITIES (56.9) (55.9) (51.5)
FINANCING ACTIVITIES      
Issuance of long-term and short-term debt 255.0 985.0 0.0
Repayments of long-term and short-term debt (527.5) 0.0 0.0
Repurchase of common stock (22.0) 0.0 0.0
Payments of employee taxes withheld from share-based awards (4.0) (0.1) 0.0
Related party borrowings 0.0 2,754.5 2,614.2
Related party repayments 0.0 (3,009.4) (2,767.1)
Net contributions from Fortune Brands 0.0 5.3 43.7
Dividend to Fortune Brands 0.0 (940.0) 0.0
Payment of financing fees 0.0 (10.1) 0.0
Other items (1.4) (0.5) (0.5)
NET CASH USED IN FINANCING ACTIVITIES (299.9) (215.3) (109.7)
Effect of foreign exchange rate changes on cash and cash equivalents (1.2) (4.7) 0.1
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 47.6 (40.3) (12.9)
Cash and cash equivalents at beginning of period 101.1 141.4 154.3
Cash and cash equivalents at end of period $ 148.7 $ 101.1 $ 141.4
[1]
a) Capital expenditures of $2.3 million, $1.6 million and $4.1 million that have not been paid as of December 31, 2023, December 25, 2022 and December 26, 2021, respectively, were excluded from the Consolidated Statements of Cash Flows.