Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Oct. 03, 2026
Sep. 27, 2025
Cash flows provided by operating activities    
Net (loss) income $ (2.4) $ 46.7
Adjustments to reconcile net (loss) income to net cash provided by operating activities    
Depreciation of property, plant, and equipment 10.8 9.1
Noncash lease expense 6.5 5.8
Amortization of intangibles 39.1 24.8
Deferred financing fee amortization 1.6 2.1
Share-based compensation 12.2 11.9
Impairment of goodwill and intangible assets 18.3 0.0
Loss on extinguishment and modification of debt 2.1 0.0
Deferred income taxes, net 2.9 17.4
Other, net 0.6 1.6
Changes in operating assets and liabilities, excluding effects of acquisition    
Accounts receivable 12.2 21.3
Contract assets (1.6) (4.5)
Inventories 2.0 (10.4)
Prepaid expenses and other current assets (1.2) (6.8)
Other assets (0.1) 0.7
Accounts payable 5.5 1.1
Contract liabilities (4.6) (3.0)
Accrued expenses and other current liabilities (3.6) 2.0
Other long-term liabilities (5.7) (5.1)
Net cash provided by operating activities 94.6 114.7
Cash flows used in investing activities    
Purchases of property, plant, and equipment (8.1) (19.9)
Cash paid for acquisition, net of cash acquired (98.9) (0.1)
Payment for equity method investment (1.9) 0.0
Net cash used in investing activities (108.9) (20.0)
Cash flows used in financing activities    
Principal payments on long-term debt (32.7) (44.5)
Repurchase of common stock (42.5) (15.9)
Cash paid for common stock withheld for taxes (2.3) (2.8)
Principal payments on finance lease obligations (1.2) (1.6)
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 (80.0) (65.6)
Effect of exchange rate changes on cash and cash equivalents (0.2) 0.5
Net (decrease) increase in cash and cash equivalents (94.5) 29.6
Cash and cash equivalents, beginning of period 194.4 149.3
Cash and cash equivalents, end of period 99.9 178.9
Supplemental cash flow information    
Interest paid 20.5 30.0
Income taxes paid, net of refunds 0.0 6.4
Cash paid for operating leases included in operating activities 9.6 7.6
Non-cash investing and financing activities    
Right-of-use assets obtained in exchange for operating lease obligations 5.9 2.3
Right-of-use assets and lease liabilities reduced for terminated leases (0.9) 0.0
Right-of-use assets obtained in exchange for finance lease obligations 0.3 1.2
RSU shares withheld included in accrued employee taxes 0.0 0.3
Excise taxes from common share repurchase included in accrued expenses 0.4 0.2
Purchases of property, plant, and equipment in accounts payable $ 0.1 $ 0.3