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Consolidated Statements of Cash Flows - Summit Materials Inc - USD ($)
$ in Thousands
12 Months Ended
Jan. 01, 2022
Jan. 02, 2021
Dec. 28, 2019
Cash flow from operating activities:      
Net income $ 154,281 $ 141,240 $ 61,123
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion, amortization and accretion 235,278 227,817 222,862
Share-based compensation expense 19,705 28,857 20,403
Net gain on asset and business disposals (25,559) (7,548) (10,294)
Non-cash loss on debt financings 2,116 4,064 2,850
Change in deferred tax asset, net 24,685 (18,384) 16,012
Other (2,249) 619 (2,135)
Decrease (increase) in operating assets, net of acquisitions and dispositions:      
Accounts receivable, net (31,292) 5,467 (37,049)
Inventories 3,815 3,339 8,582
Costs and estimated earnings in excess of billings (394) 4,535 5,558
Other current assets (2,483) 472 5,465
Other assets 7,748 10,264 5,085
(Decrease) increase in operating liabilities, net of acquisitions and dispositions:      
Accounts payable 4,593 (4,231) 18,903
Accrued expenses (7,030) 15,476 7,640
Billings in excess of costs and estimated earnings (7,138) 2,616 1,988
Tax receivable agreement liability 4,868 (5,285) 17,291
Other liabilities (19,015) (449) (7,100)
Net cash provided by operating activities 361,929 408,869 337,184
Cash flow from investing activities:      
Acquisitions, net of cash acquired (19,513) (123,477) (5,392)
Purchases of property, plant and equipment (211,982) (177,249) (177,495)
Proceeds from the sale of property, plant and equipment 11,674 14,018 21,173
Proceeds from sale of businesses 128,337 0 0
Other 236 1,121 (1,095)
Net cash used in investing activities (91,248) (285,587) (162,809)
Cash flow from financing activities:      
Proceeds from debt issuances 0 700,000 300,000
Debt issuance costs 0 (9,605) (6,312)
Payments on debt (329,010) (674,045) (270,229)
Payments on acquisition-related liabilities (10,360) (33,257) (33,883)
Proceeds from stock option exercises 32,451 1,043 19,076
Other (1,008) (907) (502)
Net cash used in financing activities (307,927) (16,771) 8,150
Impact of foreign currency on cash 26 351 286
Net (decrease) increase in cash (37,220) 106,862 182,811
Cash and cash equivalents—beginning of period 418,181 311,319 128,508
Cash and cash equivalents—end of period $ 380,961 $ 418,181 $ 311,319