XML 23 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jul. 30, 2016
Jul. 25, 2015
Jul. 26, 2014
OPERATING ACTIVITIES:      
Net income $ 128,740 $ 84,324 $ 39,978
Adjustments to reconcile net income to net cash provided by operating activities, net of acquisitions:      
Depreciation and amortization 124,940 96,044 92,772
Deferred income tax provision (benefit) 26,782 1,244 (6,323)
Stock-based compensation 16,850 13,923 12,596
Bad debt expense, net 1,252 465 615
Gain on sale of fixed assets (9,806) (7,110) (10,706)
Write-off of deferred financing fees and premium on long-term debt 2,017 0 0
Amortization of premium on long-term debt (94) (397) (369)
Amortization of debt discount 14,709 0 0
Amortization of debt issuance costs and other 2,875 2,040 1,916
Excess tax benefit from share-based awards (13,003) (8,371) (3,025)
Change in operating assets and liabilities:      
Accounts receivable, net 2,729 (40,444) (16,949)
Costs and estimated earnings in excess of billings, net (70,957) (41,021) (25,356)
Other current assets and inventory (13,800) (1,138) (12,843)
Other assets (2,936) (6,875) (555)
Income taxes receivable/payable 20,148 11,758 6,685
Accounts payable 15,132 7,114 (4,244)
Accrued liabilities, insurance claims, and other liabilities 15,910 30,344 9,993
Net cash provided by operating activities 261,488 141,900 84,185
INVESTING ACTIVITIES:      
Cash paid for acquisitions, net of cash acquired (157,183) (31,909) (17,088)
Capital expenditures (186,011) (102,997) (89,136)
Proceeds from sale of assets 10,540 9,392 15,407
Changes in restricted cash (479) (538) (303)
Other investing activities 0 (4,000) 0
Net cash used in investing activities (333,133) (130,052) (91,120)
FINANCING ACTIVITIES:      
Proceeds from borrowings on senior credit agreement, including term loans 1,310,000 535,750 502,000
Principal payments on senior credit agreement, including term loans (1,209,000) (467,563) (495,813)
Proceeds from issuance of 0.75% convertible senior notes due 2021 485,000 0 0
Proceeds from sale of warrants 74,690 0 0
Purchase of convertible note hedges (115,818) 0 0
Principal payments for satisfaction and discharge of 7.125% senior subordinated notes (277,500) 0 0
Debt issuance costs (16,376) (3,854) 0
Repurchases of common stock (169,997) (87,146) (9,999)
Exercise of stock options 2,745 8,922 14,568
Restricted stock tax withholdings (12,604) (4,711) (3,781)
Excess tax benefit from share-based awards 13,003 8,371 3,025
Principal payments on other financing activities 0 (1,000) (1,000)
Net cash provided by (used in) financing activities 84,143 (11,231) 9,000
Net increase in cash and equivalents 12,498 617 2,065
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD 21,289 20,672 18,607
CASH AND EQUIVALENTS AT END OF PERIOD 33,787 21,289 20,672
SUPPLEMENTAL DISCLOSURE OF OTHER CASH FLOW ACTIVITIES AND NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Cash paid for interest 15,917 25,369 25,291
Cash paid for taxes, net 31,159 39,057 26,738
Purchases of capital assets included in accounts payable or other accrued liabilities at period end $ 7,196 $ 2,372 $ 2,651