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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2021
Jul. 25, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 19,994 $ 24,939
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 35,701 31,701
Non-cash share-based compensation 2,522 2,958
Loss on pension settlements 587 1,604
Deferred taxes (2,542) 11,190
Provision to value inventories at LIFO 220 589
Amortization of business acquisition inventory step-up 0 508
Impairment of assets 2,900 0
Gain on sale of assets (5,103) (1,252)
Changes in assets and liabilities:    
Merchandise inventories (718) 661
Patronage dividend receivable (656) 704
Accounts payable to Wakefern (10,645) 18,866
Accounts payable and accrued expenses (3,741) 6,210
Accrued wages and benefits 1,387 2,767
Income taxes receivable / payable 9,291 (13,828)
Other assets and liabilities 3,495 (3,669)
Net cash provided by operating activities 52,692 83,948
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (25,233) (54,495)
Proceeds from the sale of assets 1,147 1,261
Investment in notes receivable from Wakefern (2,287) (2,800)
Business acquisitions, net of cash acquired 0 (73,622)
Net cash used in investing activities (26,373) (129,656)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt 50,000 25,500
Principal payments of long-term debt (8,414) (1,666)
Proceeds from revolving line of credit 0 61,915
Payments on revolving line of credit (50,000) (11,915)
Debt issuance costs (222) (212)
Dividends (13,050) (12,965)
Treasury stock purchases, including shares surrendered for withholding taxes 0 (4,389)
Net cash (used in) provided by financing activities (21,686) 56,268
NET INCREASE IN CASH AND CASH EQUIVALENTS 4,633 10,560
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 111,681 101,121
CASH AND CASH EQUIVALENTS, END OF YEAR 116,314 111,681
SUPPLEMENTAL DISCLOSURES OF CASH PAYMENTS MADE FOR:    
Interest 3,943 2,611
Income taxes 1,475 9,432
Investment in Wakefern and increase in notes payable to Wakefern 2,872 382
Capital expenditures included in accounts payable and accrued expenses $ 3,162 $ 5,050