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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 27, 2021
Jun. 28, 2020
Jun. 30, 2019
Operating activities:      
Net income $ 118,652 $ 58,998 $ 34,766
Reconciliation of net income to net cash provided by operating activities net of acquisitions:      
Depreciation and amortization 42,510 32,513 29,965
Amortization of deferred financing costs 1,143 646 969
Deferred income taxes 5,530 (266) 2,698
Bad debt expense 964 4,143 1,383
Stock-based compensation 10,835 8,434 6,310
Other non-cash items 645 1,032 (16)
Changes in operating items:      
Trade receivables (5,236) (6,947) (822)
Inventories (39,104) (4,371) (3,536)
Prepaid and other (22,850) (726) (2,313)
Accounts payable and accrued expenses 57,397 44,359 8,846
Other assets and other liabilities 2,804 1,602 (150)
Net cash provided by operating activities 173,290 139,417 78,100
Investing activities:      
Acquisitions, net of cash acquired (250,942) (20,500) 0
Capital expenditures, net of non-cash expenditures (55,219) (34,703) (32,560)
Purchase of equity investments (1,756) (1,176) 0
Net cash used in investing activities (307,917) (56,379) (32,560)
Financing activities:      
Acquisition of treasury stock (22,369) (10,680) (14,766)
Proceeds from exercise of employee stock options 2,253 285 1,236
Proceeds from bank borrowings 265,000 20,000 32,250
Repayment of notes payable and bank borrowings (174,997) (25,000) (37,187)
Debt issuance costs (2,193) (60) (1,390)
Net cash provided by (used in) financing activities 67,694 (15,455) (19,857)
Net change in cash and cash equivalents (66,933) 67,583 25,683
Cash and cash equivalents:      
Beginning of year 240,506 172,923 147,240
End of year $ 173,573 $ 240,506 $ 172,923