Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (unaudited)

v3.24.3
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 34.2 $ 34.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47.8 47.7
Stock-based compensation expense 2.5 9.2
Amortization of debt issuance costs 0.9 0.5
Benefit for deferred income taxes (2.1) (3.1)
Forward contract losses, net 0.0 0.1
Other, net 1.1 0.5
(Increase) decrease in, net of acquisitions:    
Accounts receivable (5.5) (1.5)
Inventories 16.2 (14.4)
Income taxes receivable 0.7 0.3
Other current assets (5.0) (7.5)
Other assets 4.8 5.8
Increase (decrease) in, net of acquisitions:    
Accounts payable (13.4) (9.1)
Accrued expenses and other liabilities 5.3 (6.9)
Income taxes payable 2.3 1.8
Other noncurrent liabilities (3.4) (4.6)
Contingent consideration payments in excess of acquisition date fair value 0.0 (2.7)
Net cash provided by operating activities 86.4 50.2
Cash flows from investing activities:    
Business acquisitions, net of cash acquired 0.0 (114.8)
Capital expenditures (19.6) (25.5)
Proceeds from dispositions of property, plant and equipment 0.1 0.3
Cash settlement of forward contracts 0.0 0.6
Software development costs (2.6) (5.1)
Net cash used in investing activities (22.1) (144.5)
Cash flows from financing activities:    
Borrowings on revolving credit facilities 38.1 175.7
Repayment of borrowings on revolving credit facilities (64.7) (219.0)
Borrowings on long-term non-revolving debt 126.8 160.0
Repayment of borrowings on long-term non-revolving debt (142.2) (16.3)
Proceeds from stock issued 1.6 1.6
Dividends to shareholders (8.9) (8.8)
Payment of employee tax withholding on equity award vestings (2.5) (2.2)
Payment of contingent consideration liability 0.0 (3.4)
Other financing activities (4.7) (1.9)
Proceeds received upon termination of Cash Flow hedge instruments 7.1 0.0
Net cash (used in) provided by financing activities (49.4) 85.7
Effect of exchange rate changes on cash, cash equivalents and restricted cash (0.6) 0.1
Net increase (decrease) in cash and cash equivalents 14.3 (8.5)
Cash and cash equivalents, beginning of period 32.4 43.7
Cash and cash equivalents, end of period $ 46.7 $ 35.2