Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
Cash flows from operating activities:      
Net income $ 48.4 $ 39.0 $ 37.5
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 63.0 63.8 63.8
(Gain) on sale of business (18.8) 0.0 0.0
Goodwill impairment 25.9 0.0 0.0
Stock-based compensation expense 5.1 3.4 11.6
Amortization of debt issuance costs 0.7 1.1 0.6
Benefit for deferred income taxes (1.1) (8.3) (7.9)
Forward contract losses, net 0.6 0.0 0.3
Other, net (5.3) 3.2 0.0
(Increase) decrease in, net of acquisition:      
Accounts receivable (16.5) 7.3 16.3
Inventories (2.7) 19.4 (17.9)
Income taxes receivable 0.3 (3.8) 0.3
Other current assets 4.2 (8.1) (5.5)
Other assets 4.7 5.1 (3.8)
Increase (decrease) in, net of acquisition:      
Accounts payable 22.0 (11.8) (5.2)
Accrued expenses and other liabilities 2.1 5.7 (5.8)
Income taxes payable (0.7) 10.7 (1.6)
Other noncurrent liabilities (4.6) (4.6) 3.9
Contingent consideration payments in excess of acquisition date fair value 0.0 0.0 (2.7)
Net cash provided by operating activities 127.3 122.1 83.9
Cash flows from investing activities:      
Business acquisitions, net of cash acquired 0.0 0.0 (114.2)
Capital expenditures (23.7) (27.0) (34.3)
Proceeds from dispositions of property, plant and equipment 0.3 0.1 0.3
Business Divestiture Proceeds 47.3 0.0 0.0
Cash settlement of forward contracts 0.0 0.0 0.4
Software development costs (3.6) (3.4) (6.1)
Net cash provided by (used in) investing activities 20.3 (30.3) (153.9)
Cash flows from financing activities:      
Borrowings on revolving credit facilities 57.6 41.6 189.2
Repayment of borrowings on revolving credit facilities (114.3) (88.7) (252.0)
Borrowings on long-term non-revolving debt 0.0 126.8 160.0
Repayment of borrowings on long-term non-revolving debt (38.2) (147.7) (21.5)
Proceeds from stock issued 1.8 2.2 2.0
Purchase of treasury stock (13.6) 0.0 0.0
Dividends paid to shareholders (12.0) (11.9) (11.8)
Payment of employee tax withholding on equity award vestings (1.4) (2.6) (2.2)
Payment of contingent consideration liability 0.0 0.0 (3.4)
Proceeds received upon termination of Cash Flow hedge instruments 0.0 7.1 0.0
Other financing activities (1.8) (5.2) (2.4)
Net cash (used in) provided by financing activities (121.9) (78.4) 57.9
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3.2 (1.7) 0.8
Net increase (decrease) in cash and cash equivalents 28.9 11.7 (11.3)
Cash, cash equivalents and restricted cash, beginning of period 44.1 32.4 43.7
Cash, cash equivalents and restricted cash, end of period 73.0 44.1 32.4
Cash paid:      
Income taxes 16.1 21.1 26.4
Interest 29.8 32.4 29.5
Supplemental disclosure of noncash transactions:      
Unrealized loss (gain) on interest rate swaps 0.0 (0.5) 4.4
Stock issued for acquisition 0.0 0.0 18.7
Foreign currency remeasurement impact on euro denominated debt (8.6) 4.1 (2.4)
Income taxes paid:      
Income taxes paid 1.8    
Federal 0.8    
Total income taxes paid 16.1 $ 21.1 $ 26.4
Italy      
Income taxes paid:      
Foreign 6.6    
China      
Income taxes paid:      
Foreign 4.4    
Australia      
Income taxes paid:      
Foreign 0.9    
All other foreign      
Income taxes paid:      
Foreign $ 1.6