Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Cash flows provided by operating activities    
Net income $ 46.7 $ 70.1
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant, and equipment 9.1 8.9
Noncash lease expense 5.8 5.6
Provision for inventory obsolescence 1.3 0.2
Amortization of intangibles 24.8 23.7
Deferred finance fee amortization 2.1 1.9
Provision for expected losses on accounts receivable 0.4 8.6
Share-based compensation 11.9 7.2
Impairment 0.0 2.8
Gain on equity method investment (0.1) 0.0
Deferred income taxes, net 17.4 7.9
Changes in operating assets and liabilities, excluding effects of acquisition    
Accounts receivable 21.3 7.3
Contract assets (4.5) 24.5
Inventories (10.4) (5.7)
Prepaid expenses and other current assets (6.8) (13.3)
Other assets 0.7 0.4
Accounts payable 1.1 (8.6)
Contract liabilities (3.0) (6.3)
Accrued expenses and other current liabilities 2.0 (27.5)
Other long-term liabilities (5.1) (5.1)
Net cash provided by operating activities 114.7 102.6
Cash flows used in investing activities    
Purchases of property, plant, and equipment (19.9) (14.0)
Cash paid for acquisition, net of cash acquired (0.1) (59.4)
Payment for equity method investment 0.0 (2.5)
Net cash used in investing activities (20.0) (75.9)
Cash flows used in financing activities    
Principal payments on long-term debt (44.5) (23.4)
Repurchase of common stock (15.9) (70.2)
Cash paid for common stock withheld for taxes (2.8) (1.2)
Principal payments on finance lease obligations (1.6) (1.4)
Excise taxes paid for repurchase of common stock (0.8) 0.0
Payments for deferred financing fees 0.0 (0.2)
Net cash used in financing activities (65.6) (96.4)
Effect of exchange rate changes on cash and cash equivalents 0.5 0.1
Net increase (decrease) in cash 29.6 (69.6)
Cash, beginning of period 149.3 171.7
Cash, end of period 178.9 102.1
Supplemental cash flow information    
Interest paid 30.0 47.5
Income taxes paid 6.4 26.5
Cash paid for operating leases included in operating activities 7.6 6.6
Non-cash investing and financing activities    
Right-of-use assets obtained in exchange for operating lease obligations 2.3 4.2
Right-of-use assets obtained in exchange for finance lease obligations 1.2 1.6
RSU shares withheld included in accrued employee taxes 0.3 0.1
Excise taxes from common share repurchase included in accrued expenses 0.2 0.7
Purchases of property, plant, and equipment in accounts payable $ 0.3 $ 0.2