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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Apr. 24, 2021
Apr. 25, 2020
Apr. 27, 2019
Cash flows from operating activities      
Net income $ 107,529 $ 78,984 $ 70,141
Adjustments to reconcile net income to cash provided by operating activities      
Gain on disposal of assets (37) (10,068) (325)
Gain on sale of investments (954) (693) (656)
Provision for doubtful accounts (3,169) 13,383 502
Depreciation and amortization 33,021 31,192 31,147
Equity-based compensation expense 12,671 8,371 10,981
Goodwill impairment 0 26,862 0
Pension termination (refund)/charge 0 (1,900) 32,671
Pension plan contributions 0 0 (7,000)
Change in deferred taxes 8,790 719 (1,668)
Change in receivables (38,288) 29,686 7,195
Change in inventories (40,727) 14,900 3,135
Change in right-of use lease asset 65,571 67,673 0
Change in other assets 2,926 7,039 (7,737)
Change in payables 37,068 (9,913) (2,388)
Change in lease liabilities (65,881) (66,238) 0
Change in other liabilities 191,397 (25,755) 14,747
Net cash provided by operating activities 309,917 164,242 150,745
Cash flows from investing activities      
Proceeds from disposals of assets 2,770 11,273 1,941
Proceeds from insurance 0 1,080 184
Capital expenditures (37,960) (46,035) (48,433)
Purchases of investments (39,584) (37,477) (20,698)
Proceeds from sales of investments 36,071 37,244 20,944
Acquisitions (2,000) 0 (75,630)
Net cash used for investing activities (40,703) (33,915) (121,692)
Cash flows from financing activities      
Net proceeds from credit facility 0 75,000 0
Payments on debt and finance lease liabilities (75,050) (161) (223)
Holdback payments for acquisition purchases (5,783) (6,850) (875)
Stock issued for stock and employee benefit plans, net of shares withheld for taxes 9,030 3,029 13,901
Purchases of common stock (44,202) (43,369) (22,957)
Dividends paid to shareholders (16,542) (25,091) (23,508)
Dividends paid to minority interest joint venture partners [1] (8,507) 0 0
Net cash (used for) provided by financing activities (141,054) 2,558 (33,662)
Effect of exchange rate changes on cash and equivalents 3,015 (1,144) (475)
Change in cash, cash equivalents and restricted cash 131,175 131,741 (5,084)
Cash, cash equivalents and restricted cash at beginning of period 263,528 131,787 136,871
Cash, cash equivalents and restricted cash at end of period 394,703 263,528 131,787
Supplemental disclosure of non-cash investing activities      
Capital expenditures included in accounts payable $ 4,638 $ 3,528 $ 3,250
[1] Includes dividends paid to joint venture minority partners resulting from the repatriation of dividends from our foreign earnings that we no longer consider permanently reinvested.