Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Cash flows provided by operating activities    
Net income $ 10.8 $ 30.7
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant, and equipment 2.9 2.8
Noncash lease expense 1.9 1.7
Provision for inventory obsolescence 0.6 0.2
Amortization of intangibles 8.3 7.4
Deferred income taxes, net 0.9 2.5
Deferred finance fee amortization 1.2 0.5
Provision for expected losses on accounts receivable 0.2 0.5
Share-based compensation 4.0 1.9
Loss on equity investment 0.1 0.0
Changes in operating assets and liabilities, excluding effects of acquisition    
Accounts receivable 15.8 (18.4)
Contract assets (4.9) 14.3
Prepaid expenses and other current assets 4.7 3.0
Inventories (0.4) (2.9)
Other assets 0.3 0.3
Accounts payable 3.2 1.5
Contract liabilities (0.2) 3.0
Accrued expenses and other current liabilities 0.4 (18.9)
Other long-term liabilities (1.5) (1.5)
Net cash provided by operating activities 48.3 28.6
Cash flows used in investing activities    
Purchases of property, plant, and equipment (6.4) (4.6)
Net cash used in investing activities (6.4) (4.6)
Cash flows used in financing activities    
Principal payments on long-term debt (41.5) (1.6)
Principal payments under finance lease obligations (0.7) (0.2)
Cash paid for common stock withheld for taxes (2.6) 0.0
Excise taxes paid for repurchase of common stock 0.8 0.0
Repurchase of common stock (5.0) (15.3)
Net cash used in financing activities (50.6) (17.1)
Effect of exchange rate changes on cash and cash equivalents 0.2 (0.2)
Net (decrease) increase in cash (8.5) 6.7
Cash, beginning of period 149.3 171.7
Cash, end of period 140.8 178.4
Supplemental cash flows information    
Interest paid 7.6 18.8
Income taxes paid 0.3 0.9
Cash paid for operating leases included in operating activities 2.5 2.1
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for operating lease obligations 0.0 1.0
Right-of-use assets obtained in exchange for finance lease obligations 1.2 0.0
RSU shares withheld included in accrued employee taxes 0.2 0.9
Excise taxes from common share repurchase included in accrued expenses 0.1 0.0
Purchases of property, plant, and equipment in accounts payable $ 0.7 $ 0.0