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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Oct. 29, 2022
Oct. 23, 2021
Cash flows from operating activities    
Net income $ 85,719 $ 65,624
Adjustments to reconcile net income to cash provided by operating activities    
(Gain)/loss on disposal of assets 1 (3,151)
(Gain)/loss on sale of investments 77 (218)
Provision for doubtful accounts 694 (944)
Depreciation and amortization 19,258 17,785
Amortization of right-of-use lease assets 38,580 34,368
Equity-based compensation expense 5,079 6,354
Change in deferred taxes 27 170
Change in receivables 19,550 (33,937)
Change in inventories (36,771) (59,336)
Change in other assets 4,890 (20,666)
Change in payables 8,027 22,683
Change in lease liabilities (39,380) (34,598)
Change in other liabilities (74,797) 21,300
Net cash provided by operating activities 30,954 15,434
Cash flows from investing activities    
Proceeds from disposals of assets 63 3,998
Capital expenditures (40,442) (33,314)
Purchases of investments (4,714) (21,426)
Proceeds from sales of investments 12,660 22,666
Acquisitions (11,705) (4,396)
Net cash used for investing activities (44,138) (32,472)
Cash flows from financing activities    
Payments on debt and finance lease liabilities (61) (60)
Holdback payments for acquisition purchases (5,000) (13,500)
Stock issued for stock and employee benefit plans, net of shares withheld for taxes (1,711) (1,870)
Repurchases of common stock (5,004) (50,640)
Dividends paid to shareholders (14,161) (13,398)
Dividends paid to minority interest joint venture partners (1) [1] 0 (1,260)
Net cash used for financing activities (25,937) (80,728)
Effect of exchange rate changes on cash and equivalents (1,841) (330)
Change in cash, cash equivalents and restricted cash (40,962) (98,096)
Cash, cash equivalents and restricted cash at beginning of period 248,856 394,703
Cash, cash equivalents and restricted cash at end of period 207,894 296,607
Supplemental disclosure of non-cash investing activities    
Capital expenditures included in payables $ 4,251 $ 7,900
[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.