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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
May 08, 2024
Feb. 07, 2024
Aug. 02, 2023
May 03, 2023
Feb. 01, 2023
Jun. 30, 2024
Mar. 31, 2024
Jul. 02, 2023
Apr. 02, 2023
Jun. 30, 2024
Jul. 02, 2023
Dec. 31, 2023
Operating activities                        
Net income           $ (0.5) $ 2.7 $ 4.7 $ 0.5 $ 2.2 $ 5.2  
Net loss from discontinued operations           0.1   0.2   0.2 0.2  
Net income from continuing operations           (0.4)   4.9   2.4 5.4  
Adjustments to reconcile net income to net cash provided / (used) by operating activities                        
Depreciation                   4.5 6.2  
Amortization of purchased intangible assets                   0.4 0.4  
Amortization of debt issuance costs                   0.1 0.2  
Share-based compensation charges                   1.4 1.3  
Deferred income taxes                   0.3 1.5  
Loss on held for sale asset group                   7.5 0.0  
Defined benefit pension (credit) / charge                   (0.5) 8.3  
Defined benefit pension contributions                   0.0 (2.1)  
Changes in assets and liabilities                        
Accounts and other receivables                   (7.9) 3.8  
Inventories                   (7.5) (6.4)  
Current assets held-for-sale                   (2.5) 1.2  
Accounts payable                   2.4 (9.1)  
Accrued liabilities                   3.5 (5.9)  
Current liabilities held-for-sale                   2.0 (1.5)  
Other current liabilities                   5.8 (7.4)  
Other non-current assets and liabilities                   0.6 0.5  
Net cash provided / (used) by operating activities - continuing                   12.5 (1.3)  
Net cash provided by operating activities - discontinued                   0.1 0.1  
Net cash provided / (used) by operating activities                   12.6 (1.2)  
Investing activities                        
Capital expenditures                   (4.1) (4.9)  
Net cash used by investing activities - continuing                   (4.1) (4.9)  
Net cash used by investing activities - discontinued                   (0.1) (0.1)  
Net cash used by investing activities                   (4.2) (5.0)  
Financing activities                        
Net repayment of short-term borrowings                   (4.4) (25.0)  
Net drawdown of long-term borrowings                   6.4 35.1  
Repurchase of own shares                   (1.0) (1.6)  
Share-based compensation cash paid                   (0.3) (0.3)  
Dividends paid $ (3.5) $ (3.5) $ (3.5) $ (3.5) $ (3.5) (3.5)   (7.0)   (7.0) (7.0) $ (10.5)
Net cash (used) / provided by financing activities                   (6.3) 1.2  
Effect of exchange rate changes on cash and cash equivalents                   (0.1) 0.3  
Net increase / (decrease)                   2.0 (4.7)  
Cash, cash equivalents and restricted cash; beginning of year             $ 2.6   $ 12.9 2.6 12.9 12.9
Cash, cash equivalents and restricted cash; end of the second quarter           $ 4.6   $ 8.2   4.6 8.2 $ 2.6
Supplemental cash flow information:                        
Interest payments                   2.8 2.8  
Income tax payments, net                   $ 0.3 $ 2.8