XML 22 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows
$ in Millions
 12 Months Ended
Jan. 01, 2023
USD ($)
Jan. 02, 2022
USD ($)
Jan. 03, 2021
USD ($)
Cash flows from operating activities:      
Net earnings (loss) $ (62.5) $ 156.1 $ (72.0)
Adjustments to reconcile net earnings to net cash from operating activities:      
Goodwill impairment charge 41.0 0.0 147.7
Deferred income taxes (72.1) 21.6 (57.1)
Loss on disposal (18.7) 0.0 0.0
Depreciation and amortization 33.4 29.8 24.2
Operating lease asset amortization 18.5 21.2 21.1
Provision for credit losses and sales allowances 1.5 1.6 12.8
Stock-based compensation 7.8 5.1 3.9
(Gain) loss on investment in Persol Holdings 67.2 (121.8) 16.6
Loss on currency translation from liquidation of subsidiary 20.4 0.0 0.0
Gain on foreign currency remeasurement (5.5) 0.0 0.0
Gain on insurance settlement 0.0 (19.0) 0.0
Gain on sale of assets (6.2) 0.0 (32.1)
Equity in net (earnings) loss of PersolKelly Pte. Ltd. (0.8) (5.4) (0.8)
Other, net 3.3 6.0 1.4
Changes in operating assets and liabilities, net of acquisitions (141.0) (10.2) 120.3
Net cash (used in) from operating activities (76.3) 85.0 186.0
Cash flows from investing activities:      
Capital expenditures (12.0) (11.2) (15.5)
Proceeds from sale of assets 10.1 0.0 55.5
Acquisition of companies, net of cash received (143.1) (213.0) (39.2)
Cash disposed from sale of Russia, net of proceeds (6.0) 0.0 0.0
Proceeds from sale of Persol Holdings investment 196.9 0.0 0.0
Proceeds from sale of equity method investment 119.5 0.0 0.0
Proceeds from company-owned life insurance 1.5 12.2 2.3
Proceeds from insurance settlement 0.0 19.0 0.0
Proceeds from sale of Brazil, net of cash disposed 0.0 0.0 1.2
Proceeds (payments) related to loans to equity affiliate 0.0 5.9 5.6
Proceeds from (investment in) equity securities 0.0 5.0 (0.2)
Other investing activities 0.6 1.4 0.1
Net cash from (used in) investing activities 167.5 (180.7) 9.8
Cash flows from financing activities:      
Net change in short-term borrowings 0.8 (0.2) (1.7)
Financing lease payments (1.4) (1.5) (2.0)
Dividend payments (10.6) (4.0) (3.0)
Payments of tax withholding for stock awards (0.9) (0.6) (1.2)
Contingent consideration payments (3.3) (1.6) 0.0
Other financing activities (0.2) (0.2) (0.2)
Net cash used in financing activities (50.6) (8.1) (8.1)
Effect of exchange rates on cash, cash equivalents and restricted cash 2.3 (4.8) 9.4
Net change in cash, cash equivalents and restricted cash 42.9 (108.6) 197.1
Cash, cash equivalents and restricted cash at beginning of year 119.5 [1] 228.1 [1] 31.0
Cash, cash equivalents and restricted cash at end of year 162.4 [1] 119.5 [1] 228.1 [1]
Cash and equivalents 153.7 112.7 223.0
Restricted cash included in prepaid expenses and other current assets 0.1 0.2 0.0
Restricted cash included in other assets 8.6 6.6 5.1
Treasury Stock      
Cash flows from financing activities:      
Buyback of common shares (7.8) 0.0 0.0
Common Stock      
Cash flows from financing activities:      
Buyback of common shares $ (27.2) $ 0.0 $ 0.0
[1] (1) The following table provides a reconciliation of cash, cash equivalents and restricted cash to the amounts reported in our consolidated balance sheet: