v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 27, 2026
Jun. 28, 2025
Cash flows from (used in) operating activities:    
Net income $ 138.3 $ 103.4
Less: Loss from discontinued operations, net of tax (5.4) (0.8)
Income from continuing operations 143.7 104.2
Adjustments to reconcile income from continuing operations to net cash from operating activities:    
Special charges, net 1.8 0.1
Gain on change in value of equity security 0.0 (4.5)
Amortization of compensation expense related to acquisition (Refer to Note 3) 6.3 10.9
Deferred and other income taxes 0.0 (2.3)
Depreciation and amortization 67.8 59.5
Pension and other employee benefits 10.2 8.7
Long-term incentive compensation 8.0 7.6
Other, net, including allowance for doubtful accounts (0.2) 0.1
Changes in operating assets and liabilities, net of effects from acquisitions and divestitures:    
Accounts receivable and other assets (70.4) (63.1)
Contribution related to employee retention agreements from acquisition (Refer to Note 3) 0.0 (46.5)
Inventories (66.5) (16.2)
Accounts payable, accrued expenses and other 19.9 (24.6)
Cash spending on restructuring actions (0.4) (0.9)
Net cash from continuing operations 120.2 33.0
Net cash used in discontinued operations 0.0 (1.4)
Net cash from operating activities 120.2 31.6
Cash flows from (used in) investing activities:    
Proceeds related to company-owned life insurance policies, net 3.3 3.1
Business acquisitions, net of cash acquired (439.6) (447.7)
Capital expenditures (39.6) (13.2)
Net cash used in continuing operations (475.9) (457.8)
Net cash from discontinued operations 59.2 0.0
Net cash used in investing activities (416.7) (457.8)
Cash flows from (used in) financing activities:    
Borrowings under senior credit facilities 214.9 478.0
Repayments under senior credit facilities (174.9) (104.8)
Borrowings under trade receivables arrangement 282.0 179.0
Repayments under trade receivables arrangement (209.0) (148.0)
Net borrowings (repayments) under other financing arrangements (0.1) 0.2
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options (14.6) (9.1)
Net cash from continuing operations 98.3 395.3
Net cash from (used in) discontinued operations 0.0 0.0
Net cash from financing activities 98.3 395.3
Change in cash and equivalents due to changes in foreign currency exchange rates 0.4 6.4
Net change in cash and equivalents (197.8) (24.5)
Consolidated cash and equivalents, beginning of period 366.0 161.4
Consolidated cash and equivalents, end of period $ 168.2 $ 136.9