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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 29, 2019
Dec. 29, 2019
Dec. 30, 2018
Dec. 31, 2017
Cash flows from operating activities:        
Net earnings $ 17.0 $ 112.4 $ 22.9 $ 71.6
Adjustments to reconcile net earnings to net cash from operating activities:        
Depreciation and amortization   31.6 26.2 22.7
Operating lease asset amortization   22.3 0.0 0.0
Provision for bad debts   4.1 3.0 5.6
Stock-based compensation   5.6 8.1 9.1
Deferred income taxes   (18.3) (47.5) (5.9)
(Gain) loss on investment in Persol Holdings (0.7) (35.8) 96.2 0.0
(Gain) on sale of assets 0.0 (12.3) 0.0 0.0
Asset impairment charge 15.8 15.8 0.0 0.0
Equity in net (earnings) loss of PersolKelly Asia Pacific   3.6 (5.2) (2.7)
Other, net   (0.4) (0.8) 0.2
Changes in operating assets and liabilities, net of acquisitions   (26.4) (41.5) (29.8)
Net cash from operating activities   102.2 61.4 70.8
Cash flows from investing activities:        
Capital expenditures   (20.0) (25.6) (24.6)
Acquisition of companies, net of cash received   (86.4) 0.0 (37.2)
Investment in equity securities   (1.0) (5.0) 0.0
Loans to equity affiliate   (4.4) (7.0) 0.6
Proceeds from sale of assets   13.8 0.0 0.0
Proceeds from company-owned life insurance   3.0 7.9 0.0
Other investing activities   0.7 (0.1) 0.2
Net cash used in investing activities   (94.3) (29.8) (61.0)
Cash flows from financing activities:        
Net change in short-term borrowings   (0.3) (7.8) 10.1
Financing lease payments   (0.7) 0.0 0.0
Dividend payments   (11.9) (11.8) (11.6)
Payments of tax withholding for restricted shares   (2.5) (6.9) (1.8)
Other financing activities   (0.7) 0.0 (0.1)
Net cash used in financing activities   (16.1) (26.5) (3.4)
Effect of exchange rates on cash, cash equivalents and restricted cash   (0.9) (1.9) (3.8)
Net change in cash, cash equivalents and restricted cash   (9.1) 3.2 2.6
Cash, cash equivalents and restricted cash at beginning of year   40.1 [1] 36.9 [1] 34.3
Cash, cash equivalents and restricted cash at end of year [1] 31.0 31.0 40.1 36.9
Cash and equivalents 25.8 25.8 35.3 32.5
Restricted cash included in prepaid expenses and other current assets 0.2 0.2 0.1 0.0
Restricted cash included in other assets $ 5.0 $ 5.0 $ 4.7 $ 4.4
[1] (1) The following table provides a reconciliation of cash, cash equivalents and restricted cash to the amounts reported in our consolidated balance sheet: