XML 20 R8.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Apr. 02, 2023
Apr. 03, 2022
Operating activities    
Net income $ 76,160 $ 88,307
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 34,912 32,720
Operating lease asset amortization 30,696 28,043
Impairment of assets 27,845 171
Share-based compensation 3,852 4,456
Deferred income taxes (386) 2,291
Other non-cash items 14 313
Changes in operating assets and liabilities, net of effects from acquisition:    
Accounts receivable 6,241 9,770
Inventories 5,400 (6,790)
Prepaid expenses and other current assets 9,528 3,613
Other assets 2,609 1,757
Accounts payable 27,006 27,645
Accrued liabilities (2,024) (6,857)
Accrued salaries and benefits (13,712) (14,106)
Accrued income tax 5,456 15,275
Operating lease liabilities (33,956) (32,180)
Other long-term liabilities 179 (1,399)
Cash flows from operating activities 179,820 153,029
Investing activities    
Purchases of property and equipment (47,044) (27,227)
Payments for acquisition, net of cash acquired (13,042) 0
Cash flows used in investing activities (60,086) (27,227)
Financing activities    
Proceeds from revolving credit facilities 0 62,500
Payments on revolving credit facilities (25,000) (62,500)
Payments on finance lease liabilities (219) (176)
Payments of deferred financing costs 0 (3,373)
Repurchase of common stock (98,349) (45,715)
Proceeds from exercise of stock options 5,488 2,555
Cash flows used in financing activities (118,080) (46,709)
Increase in cash, cash equivalents, and restricted cash 1,654 79,093
Cash, cash equivalents, and restricted cash at beginning of the period 295,192 247,004
Cash, cash equivalents, and restricted cash at the end of the period 296,846 326,097
Supplemental disclosure of cash flow information    
Cash paid for interest 3,641 3,044
Cash refunded for income taxes 54 46
Leased assets obtained in exchange for new operating lease liabilities 138,662 42,176
Supplemental disclosure of non-cash investing and financing activities    
Property and equipment in accounts payable and accrued liabilities 20,924 15,666
Issuance of shares for acquisition $ 18,139 $ 0