Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Apr. 04, 2026
Mar. 29, 2025
Cash flows provided by operating activities    
Net income $ 0.2 $ 10.8
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant, and equipment 3.6 2.9
Noncash lease expense 2.1 1.9
Amortization of intangibles 12.0 8.3
Deferred financing fee amortization 0.4 1.2
Provision for expected losses on accounts receivable 0.3 0.2
Share-based compensation 4.9 4.0
Loss on extinguishment of debt repricing 1.0 0.0
Deferred income taxes, net 1.8 0.9
Other, net 0.7 0.7
Changes in operating assets and liabilities, excluding effects of acquisition    
Accounts receivable 10.6 15.8
Contract assets (2.9) (4.9)
Inventories (1.7) (0.4)
Prepaid expenses and other current assets (2.8) 4.7
Other assets 0.0 0.3
Accounts payable 10.3 3.2
Contract liabilities (0.3) (0.2)
Accrued expenses and other current liabilities (2.2) 0.4
Other long-term liabilities (1.8) (1.5)
Net cash provided by operating activities 36.2 48.3
Cash flows used in investing activities    
Purchases of property, plant, and equipment (2.8) (6.4)
Cash paid for acquisition, net of cash acquired (97.2) 0.0
Net cash used in investing activities (100.0) (6.4)
Cash flows used in financing activities    
Principal payments on long-term debt 0.0 (41.5)
Repurchase of common stock (15.5) (5.0)
Cash paid for common stock withheld for taxes (1.3) (2.6)
Principal payments on finance lease obligations (0.4) (0.7)
Excise taxes paid for repurchase of common stock (0.2) (0.8)
Payments for debt repricing fees (1.1) 0.0
Net cash used in financing activities (18.5) (50.6)
Effect of exchange rate changes on cash and cash equivalents (0.1) 0.2
Net decrease in cash (82.4) (8.5)
Cash, beginning of period 194.4 149.3
Cash, end of period 112.0 140.8
Supplemental cash flow information    
Interest paid 6.5 7.6
Income taxes paid 0.1 0.3
Cash paid for operating leases included in operating activities 3.0 2.5
Non-cash investing and financing activities    
Right-of-use assets obtained in exchange for operating lease obligations 2.4 0.0
Right-of-use assets and lease liabilities reduced for terminated leases (0.1) 0.0
Right-of-use assets obtained in exchange for finance lease obligations 0.0 1.2
RSU shares withheld included in accrued employee taxes 0.3 0.2
Excise taxes from common share repurchase included in accrued expenses 0.2 0.1
Purchases of property, plant, and equipment in accounts payable 0.1 0.7
Net working capital adjustment from Kiwi II acquisition included in accrued liabilities $ (1.6) $ 0.0