Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 39.0 $ 37.5 $ 98.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 63.8 63.8 51.6
Stock-based compensation expense 3.4 11.6 8.6
Amortization of debt issuance costs 1.1 0.6 0.5
Benefit for deferred income taxes (8.3) (7.9) (4.5)
Forward contract losses (gains), net 0.0 0.3 (4.0)
Other, net 3.2 0.0 0.0
(Increase) decrease in, net of acquisition:      
Accounts receivable 7.3 16.3 9.1
Inventories 19.4 (17.9) (27.0)
Income taxes receivable (3.8) 0.3 (5.0)
Other current assets (8.1) (5.5) 1.6
Other assets 5.1 (3.8) 8.0
Increase (decrease) in, net of acquisition:      
Accounts payable (11.8) (5.2) (11.5)
Accrued expenses and other liabilities 5.7 (5.8) (6.2)
Income taxes payable 10.7 (1.6) (2.3)
Other noncurrent liabilities (4.6) 3.9 (7.4)
Contingent consideration payments in excess of acquisition date fair value 0.0 (2.7) 0.0
Net cash provided by operating activities 122.1 83.9 109.9
Cash flows from investing activities:      
Business acquisitions, net of cash acquired 0.0 (114.2) (67.3)
Capital expenditures (27.0) (34.3) (31.9)
Proceeds from dispositions of property, plant and equipment 0.1 0.3 7.2
Cash settlement of forward contracts 0.0 0.4 4.3
Software development costs (3.4) (6.1) (3.1)
Net cash used in investing activities (30.3) (153.9) (90.8)
Cash flows from financing activities:      
Borrowings on revolving credit facilities 41.6 189.2 118.7
Repayment of borrowings on revolving credit facilities (88.7) (252.0) (92.7)
Borrowings on long-term non-revolving debt 126.8 160.0 0.0
Repayment of borrowings on long-term non-revolving debt (147.7) (21.5) (18.0)
Proceeds from stock issued 2.2 2.0 2.1
Dividends to shareholders (11.9) (11.8) (11.7)
Payment of employee tax withholding on equity award vestings (2.6) (2.2) (2.6)
Payment of contingent consideration liability 0.0 (3.4) (1.0)
Proceeds received upon termination of Cash Flow hedge instruments 7.1 0.0 0.0
Other financing activities (5.2) (2.4) (1.7)
Net cash (used in) provided by financing activities (78.4) 57.9 (6.9)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1.7) 0.8 3.0
Net increase (decrease) in cash and cash equivalents 11.7 (11.3) 15.2
Cash, cash equivalents and restricted cash, beginning of period 32.4 43.7 28.5
Cash, cash equivalents and restricted cash, end of period 44.1 32.4 43.7
Cash paid:      
Income taxes 21.1 26.4 31.7
Interest 32.4 29.5 15.5
Supplemental disclosure of noncash transactions:      
Unrealized loss (gain) on interest rate swaps (0.5) 4.4 (12.8)
Stock issued for acquisition 0.0 18.7 1.6
Foreign currency remeasurement impact on euro denominated debt $ 4.1 $ (2.4) $ 4.6