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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Operating activities    
Net earnings $ 207,604 $ 216,719
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 87,694 80,967
(Gain) loss on disposal of property and equipment (495) (293)
Inventory write-offs for obsolescence 18,023 10,777
Stock compensation expense 6,082 4,889
Deferred income taxes 16,166 5,922
Other operating activities (811) 1,844
Change in U.S. transition tax liability (27,670) (14,757)
Change in repatriation tax liability 0 (25,201)
Net change in operating assets and liabilities (69,461) (172,555)
Net cash provided by operating activities 237,132 108,312
Investing activities    
Capital expenditures (117,250) (95,700)
Proceeds from sale of property and equipment 1,013 377
Purchase of businesses, net of cash received (5,003) 0
Purchase of short-term investments (41) (7,769)
Maturity of short-term investments 293,282 66,763
Other investing activities (892) (199)
Net cash provided by (used in) investing activities 171,109 (36,528)
Financing activities    
Issuance costs (6,120) 0
Net proceeds (payments) on revolving credit lines 143,000 6,000
Repurchase of common stock held in treasury (40,399) (36,161)
Distributions to noncontrolling interests (867) (733)
Cash withholding taxes paid when shares withheld for vested equity awards (3,653) (2,123)
Net cash provided by (used in) financing activities 64,004 (61,825)
Effect of exchange rate changes on cash and cash equivalents 6,350 (18,474)
Net increase (decrease) in cash and cash equivalents 478,595 (8,515)
Cash and cash equivalents at beginning of period 610,825 774,108
Cash and cash equivalents at end of year 1,089,420 765,593
Common Stock [Member]    
Financing activities    
Dividends paid to common stockholders (25,538) (26,389)
Class B Convertible Common Stock [Member]    
Financing activities    
Dividends paid to common stockholders $ (2,419) $ (2,419)