CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions |
9 Months Ended |
Oct. 01, 2016 |
Sep. 26, 2015 |
| Cash flows from (used in) operating activities: |
|
|
| Net income (loss) |
$ (388.6)
|
$ 65.6
|
| Adjustments to reconcile net income (loss) to net cash from (used in) operating activities: |
|
|
| Special charges, net |
64.3
|
41.7
|
| Impairment of goodwill and intangible assets |
426.4
|
15.0
|
| Deferred income taxes |
(100.2)
|
(11.2)
|
| Depreciation and amortization |
49.7
|
44.3
|
| Stock-based compensation |
14.2
|
0.0
|
| Pension and other employee benefits |
7.3
|
9.8
|
| Gain on asset sales and other, net |
(1.4)
|
(1.2)
|
| Loss on early extinguishment of debt |
38.9
|
0.0
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable and other assets |
30.7
|
(27.2)
|
| Inventories |
(5.0)
|
(26.9)
|
| Accounts payable, accrued expenses and other |
(77.2)
|
(41.9)
|
| Domestic pension payments |
(65.9)
|
0.0
|
| Cash spending on restructuring actions |
(43.2)
|
(11.4)
|
| Net cash from (used in) operating activities |
(50.0)
|
56.6
|
| Cash flows used in investing activities: |
|
|
| Proceeds from asset sales and other, net |
2.4
|
5.3
|
| Increase in restricted cash |
(0.2)
|
(0.5)
|
| Capital expenditures |
(37.3)
|
(43.1)
|
| Net cash used in investing activities |
(35.1)
|
(38.3)
|
| Cash flows from (used in) financing activities: |
|
|
| Proceeds from issuance of senior notes |
600.0
|
0.0
|
| Repurchases of senior notes (includes premiums paid of $36.4) |
(636.4)
|
0.0
|
| Borrowings under senior credit facilities |
328.0
|
455.0
|
| Repayments of senior credit facilities |
(260.0)
|
0.0
|
| Borrowings under trade receivables financing arrangement |
79.9
|
0.0
|
| Repayments of trade receivables financing arrangement |
(53.7)
|
0.0
|
| Repayments of related party notes payable |
0.0
|
(5.4)
|
| Borrowings under other financing arrangements |
1.2
|
1.0
|
| Repayments of other financing arrangements |
(12.8)
|
(2.7)
|
| Minimum withholdings paid on behalf of employees for net share settlements, net |
(3.2)
|
0.0
|
| Financing fees paid |
(12.6)
|
(6.2)
|
| Dividends paid to noncontrolling interests in subsidiary |
(1.2)
|
(0.2)
|
| Change in former parent company investment |
0.0
|
(453.9)
|
| Net cash from (used in) financing activities |
29.2
|
(12.4)
|
| Change in cash and equivalents due to changes in foreign currency exchange rates |
(12.1)
|
(15.4)
|
| Net change in cash and equivalents |
(68.0)
|
(9.5)
|
| Consolidated and combined cash and equivalents, beginning of period |
295.9
|
216.6
|
| Consolidated and combined cash and equivalents, end of period |
$ 227.9
|
$ 207.1
|