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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Operating Activities    
Net income $ 349.2 $ 221.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 98.7 91.5
Amortization 57.2 54.8
Provision for credit losses and sales returns 28.2 18.9
Stock-based compensation 17.4 12.2
Deferred taxes and other non-cash taxes (3.8) (17.5)
Other non-cash expense and loss (income and gain), net 46.6 17.0
Changes in assets and liabilities and other adjustments (276.0) (207.0)
Net cash provided by operating activities 317.5 191.5 Close
Investing Activities    
Purchases of property, plant and equipment (96.3) (115.9)
Purchases of software and other deferred charges (12.9) (11.0)
Purchases of Argentine Blue Chip Swap securities (34.2) 0.0
Proceeds from sales of Argentine Blue Chip Swap securities 24.0 0.0
Proceeds from sales of property, plant and equipment 0.3 0.3
Proceeds from insurance and sales (purchases) of investments, net 2.2 (1.2)
Payments for acquisitions, net of cash acquired, and venture investments (1.9) (194.1)
Net cash used in investing activities (118.8) (321.9) Close
Financing Activities    
Net increase (decrease) in borrowings with maturities of three months or less (2.2) 281.8
Additional long-term borrowings 0.0 394.9
Repayments of long-term debt and finance leases (3.5) (252.6)
Dividends paid (136.2) (126.2)
Share repurchases (40.7) (89.5)
Net (tax withholding) proceeds related to stock-based compensation (18.4) (23.7)
Other (1.1) (1.6)
Net cash (used in) provided by financing activities (202.1) 183.1 Close
Effect of foreign currency translation on cash balances (2.8) (2.8) Close
Increase (decrease) in cash and cash equivalents (6.2) 49.9 Close
Cash and cash equivalents, beginning of year 215.0 167.2
Cash and cash equivalents, end of period $ 208.8 $ 217.1