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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Operating Activities    
Net income $ 172.4 $ 121.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 49.0 44.8
Amortization 28.3 27.5
Provision for credit losses and sales returns 11.8 10.6
Stock-based compensation 7.5 10.5
Deferred taxes and other non-cash taxes (3.0) (4.5)
Other non-cash expense and loss (income and gain), net 18.1 10.1
Changes in assets and liabilities and other adjustments (164.3) (218.3)
Net cash provided by operating activities 119.8 1.9 Close
Investing Activities    
Purchases of property, plant and equipment (48.8) (64.5)
Purchases of software and other deferred charges (6.9) (5.3)
Purchases of Argentine Blue Chip Swap securities (20.2) 0.0
Proceeds from sales of Argentine Blue Chip Swap securities 14.0 0.0
Proceeds from sales of property, plant and equipment 0.1 0.2
Proceeds from insurance and sales (purchases) of investments, net 0.1 (3.5)
Payments for acquisitions, net of cash acquired, and venture investments (0.3) (43.5)
Net cash used in investing activities (62.0) (116.6) Close
Financing Activities    
Net increase (decrease) in borrowings with maturities of three months or less 15.9 42.9
Additional long-term borrowings 0.0 394.9
Repayments of long-term debt and finance leases (1.7) (1.4)
Dividends paid (65.3) (60.8)
Share repurchases (15.6) (50.7)
Net (tax withholding) proceeds related to stock-based compensation (18.3) (23.6)
Other 0.0 (1.5)
Net cash (used in) provided by financing activities (85.0) 299.8 Close
Effect of foreign currency translation on cash balances (2.1) (1.0) Close
Increase (decrease) in cash and cash equivalents (29.3) 184.1 Close
Cash and cash equivalents, beginning of year 215.0 167.2
Cash and cash equivalents, end of period $ 185.7 $ 351.3