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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jan. 01, 2022
Jan. 02, 2021
Dec. 28, 2019
Cash flows from operating activities:      
Net income $ 616,108 $ 493,021 $ 486,896
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 259,933 250,081 238,371
Share-based compensation 63,067 45,271 37,438
Loss and impairment of long-lived assets 8,949 4,727 6,671
Loss on early redemption of senior unsecured notes 0 48,022 10,756
Other, net (7,985) 1,467 1,681
Deferred Income Tax Expense (Benefit) (68,202) (8,136) (23,148)
Net change in:      
Receivables, net (32,652) (59,014) (62,837)
Inventories (120,272) (101,449) (63,130)
Accounts payable 281,064 216,488 245,785
Accrued expenses 109,983 78,507 (72,288)
Other assets and liabilities, net (134,135) (15,569) 14,418
Net cash provided by operating activities 1,112,262 969,688 866,909
Cash flows from investing activities:      
Purchases of property and equipment (289,639) (267,576) (270,129)
Purchase of an indefinite-lived intangible asset 0 (230) (201,519)
Proceeds from sales of property and equipment 2,325 909 8,709
Net cash used in investing activities (287,314) (266,897) (462,939)
Cash flows from financing activities:      
Decrease in bank overdrafts 0 0 (59,339)
Redemption of senior unsecured note 0 (602,568) (310,047)
Borrowings under credit facilities 0 500,000 0
Payments on credit facilities 0 (500,000) 0
Proceeds from issuance of senior unsecured notes, net 0 847,092 0
Dividends paid (160,925) (56,347) (17,185)
Proceeds from the issuance of common stock 3,074 3,270 3,334
Repurchases of common stock (906,208) (469,691) (498,435)
Other, net (53) (7,753) (481)
Net cash used in financing activities (1,064,112) (285,997) (882,153)
Effect of exchange rate changes on cash 5,600 (467) 321
Net (decrease) increase in cash and cash equivalents (233,564) 416,327 (477,862)
Cash and cash equivalents, beginning of period 834,992 418,665 896,527
Cash and cash equivalents, end of period 601,428 834,992 418,665
Supplemental cash flow information:      
Interest paid 36,372 34,011 41,099
Income tax payments 177,317 146,073 108,163
Non-cash transactions:      
Accrued purchases of property and equipment $ 14,369 $ 4,963 $ 26,201