XML 22 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 26, 2015
USD ($)
Dec. 27, 2014
USD ($)
Cash flows from operating activities:      
Net income $ 3,039 [1],[2] $ 250 [1] $ 8,708
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of facility (3,198)
Operating cash flows of discontinued operations (1,039) 9,466
Depreciation and amortization 10,412 11,273 12,607
Share-based compensation expense 7,143 6,755 6,388
Accrued retiree benefits 672 2,185 787
Deferred income taxes (1,065) 222 832
Other assets 415 (326)
Loss on disposal and impairment of fixed assets 31 311
Other accrued liabilities 162 127
Changes in current assets and liabilities, excluding effects from acquisitions and divestitures:      
Accounts receivable (4,617) 8,970 (18,656)
Inventories 4,608 (5,743) (3,401)
Accrued compensation, warranty and other liabilities (1,544) (3,740) 6,218
Accounts payable 5,678 3,376 139
Deferred profit 3,309 (3,108) 2,181
Other current assets (1,959) 2,420 (1,294)
Income taxes payable (1,957) (828) 137
Net cash provided by operating activities 24,548 21,480 19,678
Cash flows from investing activities, excluding effects from acquisitions and divestitures:      
Purchases of short-term investments (50,568) (656) (1,000)
Sales and maturities of short-term investments 20,230 155 1,045
Net cash received from sale of facility and assets 874 33,314
Purchases of property, plant and equipment (3,452) (6,586) (1,457)
Investing cash flows of discontinued operations (74) (209)
Net cash provided by (used in) investing activities (32,916) 31,034 8,637
Cash flows from financing activities:      
Cash dividends paid (6,351) (6,215) (6,067)
Net cash provided by (used in) issuance of common stock through employee equity incentive plans (356) 1,233 1,891
Net cash used in financing activities (6,707) (4,982) (4,176)
Effect of exchange rate changes on cash and cash equivalents (4,250) (3,047) (4,922)
Net increase (decrease) in cash and cash equivalents (19,325) 44,485 19,217
Cash and cash equivalents at beginning of year 115,370 70,885 51,668
Cash and cash equivalents at end of year 96,045 115,370 70,885
Supplemental disclosure of cash flow information:      
Cash paid (refunded) during the year for income taxes 6,808 (253) 971
Inventory capitalized as capital assets 201 315 1,166
Dividends declared but not yet paid 1,606 1,573 1,539
Capitalized facility under build-to-suit lease 682
Broadcast Microwave Services, Inc. (“BMS”) [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain (loss) on disposal of segment 221 3,573
Cash flows from investing activities, excluding effects from acquisitions and divestitures:      
Net cash received from sale of segment 4,881
Cohu Electronics [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain (loss) on disposal of segment (4,434)
Cash flows from investing activities, excluding effects from acquisitions and divestitures:      
Net cash received from sale of segment $ 10,258
[1] All quarters presented above were comprised of 13 weeks, except for the fourth quarter ended December 31, 2016 which was comprised of 14 weeks.
[2] As a result of the adoption of ASU 2016-09, in the fourth quarter of 2016, certain amounts in the first three quarters have been restated as if the new accounting guidance was adopted starting with the first day of our 2016 fiscal year. The impact of these restatements was not significant.