XML 22 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Jul. 03, 2022
Jul. 04, 2021
Cash flows from operating activities    
Net income $ 57.5 $ 139.3
Income from discontinued operations, net of tax 109.8 130.1
Net (loss) income from continuing operations (52.3) 9.2
Adjustments to reconcile net (loss) income to net cash from operating activities:    
Depreciation 36.6 39.2
Amortization 39.9 48.2
Share based compensation 11.4 21.4
Gain on equity investment 0.0 (6.9)
Amortization of debt issuance costs and debt discount 5.1 4.3
Write-off of unamortized discount and debt issuance costs 0.0 7.9
Gain from contingent consideration liability (25.0) 0.0
Non-cash purchase accounting adjustments 7.8 4.7
Deferred tax benefit (50.4) (26.0)
Net changes in operating assets and liabilities (153.9) (174.6)
Net cash used by operating activities from continuing operations (180.8) (72.6)
Net cash provided by operating activities from discontinued operations 42.4 81.5
Net cash (used) provided by operating activities (138.4) 8.9
Cash flows from investing activities    
Purchases of property, plant and equipment (45.3) (26.2)
Proceeds from disposal of property, plant and equipment 0.1 0.0
Business acquisitions, net of cash acquired (272.1) (429.5)
Proceeds from sale of equity investment 0.0 73.1
Other investing activity (0.1) (0.4)
Net cash used by investing activities from continuing operations (317.4) (383.0)
Net cash used by investing activities from discontinued operations (18.0) (17.1)
Net cash used by investing activities (335.4) (400.1)
Cash flows from financing activities    
Payment of debt (9.8) (884.2)
Proceeds from issuance of debt 775.0 997.0
Payment of debt issuance costs (7.6) (12.6)
Payment of contingent consideration (1.9) 0.0
Treasury stock purchases (134.0) (52.5)
Dividends paid to shareholders (51.5) (53.6)
Share based award tax withholding payments, net of proceeds upon vesting (24.5) (7.2)
Other financing activity 0.0 0.3
Net cash provided (used) by financing activities from continuing operations 545.7 (12.8)
Net cash used by financing activities from discontinued operations (2.7) (2.4)
Net cash provided (used) by financing activities 543.0 (15.2)
Effect of exchange rate changes on cash and cash equivalents (11.5) 5.0
Net change in cash, cash equivalents and restricted cash in continuing operations 57.7 (401.4)
Cash, cash equivalents, and restricted cash, beginning of period 190.0 533.8
Cash, cash equivalents, and restricted cash, end of period 247.7 132.4
Non cash investing activities    
Acquisition of property, plant and equipment through finance leases 1.0 1.3
Non cash financing activities    
Issuance of shares through stock compensation plan 33.4 17.8
Continuing Operations    
Supplemental disclosure of cash flow information    
Cash paid for interest associated with continued operations 60.7 61.9
Cash paid for taxes associated with continued operations 25.3 18.5
Discontinued Operations    
Supplemental disclosure of cash flow information    
Cash paid for interest associated with continued operations 36.9 38.9
Cash paid for taxes associated with continued operations $ 11.2 $ 10.2