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
 3 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Cash Flows Provided By Operating Activities    
Net income $ 30.7 $ 26.0
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 2.8 2.2
Noncash lease expense 1.7 1.5
Provision (reversal) for inventory obsolescence 0.2 (0.3)
Amortization of intangibles 7.4 7.4
Deferred income taxes 2.5 0.0
Deferred finance fee amortization 0.5 1.3
Provision for expected credit losses, net 0.5 0.1
Share-based compensation 1.9 1.8
Changes in operating assets and liabilities    
Accounts receivable (18.4) 5.8
Contract assets 14.3 (1.6)
Prepaid expenses and other current assets 3.0 9.7
Inventories (2.9) 3.3
Other assets 0.3 0.0
Accounts payable 1.5 6.2
Contract liabilities 3.0 (3.3)
Accrued expenses and other current liabilities (18.9) (8.5)
Other long-term liabilities (1.5) (1.4)
Net Cash Provided By Operating Activities 28.6 50.2
Cash Flows Used In Investing Activities    
Purchases of property, plant, and equipment (4.6) (6.1)
Cash paid for acquisitions, net of cash acquired 0.0 (1.0)
Net Cash Used In Investing Activities (4.6) (7.1)
Cash Flows Used In Financing Activities    
Principal payments on long-term debt (1.6) (52.0)
Principal payments under finance lease obligations (0.2) (0.1)
Repurchase of common shares (15.3) 0.0
Net Cash Used In Financing Activities (17.1) (52.1)
Effect of exchange rate changes on cash (0.2) 0.2
Net Increase (decrease) in Cash 6.7 (8.8)
Cash, Beginning of Period 171.7 78.4
Cash, End of Period 178.4 69.6
Supplemental Cash Flows Information    
Interest paid 18.8 14.5
Income taxes paid 0.9 0.2
Cash paid for operating leases included in operating activities 2.1 2.0
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for operating lease obligations 1.0 0.0
Right-of-use assets obtained in exchange for finance lease obligations 0.0 1.1
RSU shares withheld included in accrued employee taxes $ 0.9 $ 0.2