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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 25, 2021
Dec. 26, 2020
Operating Activities:      
Net income $ 17,989 $ 24,405 $ 25,934
Reconciling adjustments:      
Depreciation and amortization 6,063 4,835 4,016
Provision for doubtful accounts 108 (408) 473
Stock option and restricted stock unit expense 1,974 902 1,016
Deferred income taxes (244) 567 656
Loss (gain) on disposals of assets (22) (19) (2)
Changes in      
Accounts receivable 9,738 (301) (29,905)
Inventories (15,847) (19,894) (26,422)
Prepaids and other assets 3,433 (4,163) (42)
Accounts payable and accrued expenses (14,668) (4,985) 26,909
Net cash provided by operating activities 8,524 939 2,633
Investing Activities:      
Purchase of property and equipment (2,111) (9,696) (5,455)
Acquisitions (35,757) 0 (15,446)
Payment on note payable related to an acquisition 0 0 (135)
Proceeds from sale of property and equipment 40 43 4
Net cash used in investing activities (37,828) (9,653) (21,032)
Financing Activities:      
Dividends paid (8,154) (7,693) (7,466)
Proceeds from issuance of long-term debt 197,369 232,065 84,044
Payments on long-term debt (160,027) (204,601) (53,971)
Proceeds from exercise of stock options 0 144 144
Deferred financing fees (342) (33) (87)
Purchase of stock 0 (10,434) (6,739)
Director stock compensation 51 135 97
Net cash provided by financing activities 28,897 9,583 16,022
Increase (decrease) in Cash and Cash Equivalents (407) 869 (2,377)
Cash and Cash Equivalents, beginning of year 4,374 3,505 5,882
Cash and Cash Equivalents, end of year 3,967 4,374 3,505
Supplemental Cash Flows Information      
Interest paid 3,867 1,433 205
Income taxes paid 4,144 6,284 6,205
Information regarding the Company’s acquisitions in 2022 and 2020 are as follows:      
Fair value of assets acquired 41,496 0 16,277
Cash paid for assets (35,757) 0 (15,446)
Liabilities assumed $ 5,739 $ 0 $ 831