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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Apr. 25, 2020
Apr. 27, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 15,724 $ 18,810
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22,914 20,481
Non-cash share-based compensation 2,308 2,387
Loss on pension settlements 1,362 431
Deferred taxes 983 (392)
Provision to value inventories at LIFO 400 303
Gain on sale of property, equipment and fixtures (1,252) (102)
Changes in assets and liabilities:    
Merchandise inventories 5,490 188
Patronage dividend receivable 4,408 3,575
Accounts payable to Wakefern 9,962 (2,132)
Accounts payable and accrued expenses (3,153) 1,069
Accrued wages and benefits (982) 495
Income taxes receivable / payable 1,278 (2,394)
Other assets and liabilities (38) (2,950)
Net cash provided by operating activities 59,404 39,769
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (47,812) (18,815)
Proceeds from the sale of assets 1,261 102
Investment in notes receivable from Wakefern (2,243) (27,263)
Maturity of notes receivable from Wakefern 0 24,937
Acquisition deposit in escrow (7,600) 0
Payment for acquisition, net of cash acquired (64) 0
Net Cash Provided by (Used in) Investing Activities (56,330) (21,039)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 0 1,008
Excess tax benefit related to share-based compensation 0 26
Principal payments of long-term debt (507) (1,354)
Dividends (9,697) (9,658)
Payments for Repurchase of Common Stock (4,389) (729)
Net cash used in financing activities (14,593) (10,707)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (11,519) 8,023
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 101,121 96,108
CASH AND CASH EQUIVALENTS, END OF PERIOD 89,602 104,131
SUPPLEMENTAL DISCLOSURES OF CASH PAYMENTS MADE FOR:    
Interest 1,698 3,334
Income taxes 4,132 10,790
NONCASH SUPPLEMENTAL DISCLOSURES:    
Investment in Wakefern and increase in notes payable to Wakefern $ 93 $ 838