Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash Flows Provided By Operating Activities    
Net income $ 58.3 $ 63.0
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 5.9 4.4
Noncash lease expense 3.6 3.0
Provision for inventory obsolescence 0.0 (0.8)
Amortization of intangibles 15.5 14.8
Deferred income taxes 5.7 0.0
Deferred finance fee amortization 1.4 2.2
Provision for losses on accounts receivable 0.5 0.8
Share-based compensation 5.3 3.6
Loss on equity investment 0.0 0.1
Changes in operating assets and liabilities, excluding effects of acquisition    
Accounts receivable (2.7) (0.9)
Contract assets 16.9 (10.8)
Prepaid expenses and other current assets (13.7) 8.4
Inventories (2.2) 9.1
Other assets 0.1 2.0
Accounts payable (2.8) 3.2
Contract liabilities (1.6) (2.9)
Accrued expenses and other current liabilities (27.4) 2.0
Other long-term liabilities (3.2) (4.6)
Net Cash Provided By Operating Activities 59.6 96.6
Cash Flows Used In Investing Activities    
Purchases of property, plant, and equipment (10.3) (9.6)
Cash paid for acquisitions, net of cash acquired (60.1) (1.0)
Net Cash Used In Investing Activities (70.4) (10.6)
Cash Flows Used In Financing Activities    
Principal payments on long-term debt (23.4) (54.0)
Principal payments under finance lease obligations (1.0) (0.3)
Payments for deferred financing fees (0.2) 0.0
Cash paid for common shares withheld for taxes (0.9) 0.0
Repurchase of common shares (25.2) 0.0
Net Cash Used In Financing Activities (50.7) (54.3)
Effect of exchange rate changes on cash (0.1) 0.6
Net (Decrease) Increase in Cash (61.6) 32.3
Cash, Beginning of Period 171.7 78.4
Cash, End of Period 110.1 110.7
Supplemental Cash Flows Information    
Interest paid 39.0 28.4
Income taxes paid 24.3 11.2
Cash paid for operating leases included in operating activities 4.3 4.1
Non-cash Investing and Financing Activities:    
Right-of-use assets obtained in exchange for operating lease obligations 4.2 0.0
Right-of-use assets obtained in exchange for finance lease obligations 1.4 2.1
RSU shares withheld included in accrued employee taxes 0.2 0.2
Excise taxes from common share repurchase included in accrued expenses 0.3 0.0
Capital expenditures in accounts payable $ 0.6 $ 0.0