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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 26, 2020
USD ($)
Dec. 28, 2019
USD ($)
Dec. 29, 2018
USD ($)
Cash flows from operating activities:      
Net loss attributable to Cohu $ (13,801) $ (69,700) $ (32,181)
Net income (loss) from noncontrolling interest 0 8 (243)
Adjustments to reconcile net loss to net cash provided by operating activities:      
(Gain) loss on disposal of discontinued operations (Note 14) (35) 1,138 0
Interest capitalized associated with cloud computing implementation (124) (168) 0
Gain on divestiture of consolidated entity 0 (149) 0
Gain on extinguishment of debt (268) 0 0
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) 11,249 0 0
Depreciation and amortization 52,746 58,871 26,047
Share-based compensation expense including restructuring charges 14,234 14,148 18,279
Amortization of inventory step-up and inventory related charges 3,731 8,347 24,179
Amortization of debt discounts and issuance costs 1,177 1,110 0
Accrued retiree benefits 1,675 1,017 (560)
Deferred income taxes (5,305) (5,385) (8,207)
Adjustment to contingent consideration liability 0 0 657
Changes in other assets 285 (3,044) (2,961)
Amortization of cloud-based software implementation costs 1,191 0 0
(Gain) loss from sale of property, plant and equipment (4,170) 173 293
Changes in other accrued liabilities 91 5,348 198
Changes in current assets and liabilities, excluding effects from acquisitions and divestitures:      
Customer advances 2,188 11,548 2,513
Accounts receivable (20,210) 21,150 5,785
Inventories (14,982) 26 2,043
Accrued compensation, warranty and other liabilities 4,678 (9,405) 1,472
Accounts payable 15,058 (3,122) (7,103)
Deferred profit 871 997 37
Other current assets 1,150 (5,996) 148
Income taxes payable (2,089) (10,719) 4,041
Operating lease right-of-use assets 6,831 7,159 0
Current and long-term operating lease liabilities (6,437) (6,083) 0
Net cash provided by operating activities 49,734 17,269 34,437
Cash flows from investing activities, excluding effects from acquisitions and divestitures:      
Purchases of property, plant and equipment (18,660) (18,000) (4,967)
Net cash received from sale of land, facility and assets 17,025 1,767 1,005
Purchases of short-term investments (19,703) (315) (38,700)
Payment for purchase of Xcerra, net of cash received 0 0 (339,115)
Sales and maturities of short-term investments 0 0 59,469
Net cash received from sale of fixtures services business 2,975 0 0
Net cash used in investing activities (18,363) (16,548) (322,308)
Cash flows from financing activities:      
Cash dividends paid (4,971) (9,827) (6,949)
Proceeds from revolving line of credit and construction loans 5,878 5,477 0
Repayments of long-term debt (41,056) (3,817) (2,323)
Net issuance (repurchases) of stock, including awards settled in cash 2,077 (16) (8,978)
Proceeds from Term Loan B 0 0 348,250
Payment of debt issuance costs 0 0 (7,072)
Payment of contingent consideration 0 0 (823)
Net cash provided by (used in) financing activities (38,072) (8,183) 322,105
Effect of exchange rate changes on cash and cash equivalents 129 (1,529) (3,599)
Net increase (decrease) in cash and cash equivalents (6,572) (8,991) 30,635
Cash and cash equivalents at beginning of year 155,930 164,921 134,286
Cash and cash equivalents at end of year 149,358 155,930 164,921
Cash held by discontinued operations (Note 14) 0 (736) (461)
Cash and cash equivalents at end of year from continuing operations 149,358 155,194 164,460
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 5,772 14,942 6,243
Cash paid for interest 16,324 14,846 4,977
Dividends declared but not yet paid 0 2,484 2,445
Property, plant and equipment purchases included in accounts payable 1,063 1,601 599
Inventory capitalized as capital assets $ 1,050 $ 300 $ 857