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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Apr. 24, 2021
Apr. 25, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 10,490 $ 15,724
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,003 22,914
Non-cash share-based compensation 1,892 2,308
Loss on pension settlements 0 1,362
Deferred taxes (1,539) 983
Provision to value inventories at LIFO 0 400
Gain on sale of property, equipment and fixtures (1,031) (1,252)
Changes in assets and liabilities:    
Merchandise inventories (2,837) 5,490
Patronage dividend receivable 3,464 4,408
Accounts payable to Wakefern (6,485) 9,962
Accounts payable and accrued expenses (4,076) (3,153)
Accrued wages and benefits (502) (982)
Income taxes receivable / payable 4,611 1,278
Other assets and liabilities 2,005 (38)
Net cash provided by operating activities 32,995 59,404
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (14,901) (47,812)
Proceeds from the sale of assets 1,076 1,261
Investment in notes receivable from Wakefern (1,708) (2,243)
Acquisition deposit in escrow 0 (7,600)
Acquisition of Gourmet Garage, net of cash acquired 0 64
Net cash used in investing activities (15,533) (56,330)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt 50,000 0
Principal payments of long-term debt (6,459) (507)
Payments on revolving line of credit (50,000) 0
Debt issuance costs (222) 0
Dividends (9,785) (9,697)
Treasury stock purchases 0 (4,389)
Net cash used in financing activities (16,466) (14,593)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 996 (11,519)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 111,681 101,121
CASH AND CASH EQUIVALENTS, END OF PERIOD 112,677 89,602
SUPPLEMENTAL DISCLOSURES OF CASH PAYMENTS MADE FOR:    
Interest 2,963 1,698
Income taxes 1,475 4,132
NONCASH SUPPLEMENTAL DISCLOSURES:    
Investment in Wakefern and increase in notes payable to Wakefern 351 93
Capital expenditures included in accounts payable and accrued expenses $ 3,779 $ 5,221