XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 25, 2020
Jul. 31, 2021
Jul. 25, 2020
Cash flows from operating activities:      
Net income $ 37,024 $ 19,063 $ 4,606
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 44,129 77,542 90,001
Non-cash lease expense   15,986 15,743
Deferred income tax provision (benefit)   6,412 (15,893)
Stock-based compensation   6,049 6,694
Amortization of debt discount   1,329 6,089
Provision for bad debt, net 119 2,901 236
Gain on sale of fixed assets (3,418) (3,844) (5,206)
Loss (gain) on debt extinguishment 458 62 (12,046)
Amortization of debt issuance costs and other   1,392 1,630
Goodwill impairment charge   0 53,264
Change in operating assets and liabilities:      
Accounts receivable, net   (73,898) (81,295)
Contract assets, net   32,803 (2,392)
Other current assets and inventories   (13,064) 2,417
Other assets   2,235 3,718
Income taxes receivable/payable   (14,193) 15,064
Accounts payable   8,737 64,547
Accrued liabilities, insurance claims, operating lease liabilities, and other liabilities   (10,706) 20,305
Net cash provided by operating activities   58,806 167,482
Cash flows from investing activities:      
Capital expenditures   (68,352) (26,724)
Proceeds from sale of assets   4,235 5,958
Net cash used in investing activities   (64,117) (20,766)
Cash flows from financing activities:      
Proceeds from Issuance of Senior Long-term Debt   500,000 0
Proceeds from borrowings on senior credit agreement, including term loan   95,000 683,000
Principal payments on senior credit agreement, including term loan   (271,875) (494,250)
Debt issuance costs   (11,638) 0
Repurchase of common stock   (50,000) 0
Extinguishment of 2021 Convertible Notes (401,736) 0  
Redemption discount on convertible debt, net of costs 30,761 0  
Settlement of convertible note hedges related to extinguished convertible debt 7,197 0  
Purchase of warrants (7,176) 0  
Exercise of stock options   366 3,608
Restricted stock tax withholdings   (6,365) (329)
Net cash provided by (used in) financing activities   255,488 (178,925)
Net increase (decrease) in cash, cash equivalents and restricted cash   250,177 (32,209)
Cash, cash equivalents and restricted cash at beginning of period (Note 7)   13,574 59,869
Cash, cash equivalents and restricted cash at end of period (Note 7) $ 27,660 263,751 27,660
Supplemental disclosure of other cash flow activities and non-cash investing and financing activities:      
Cash paid for interest   4,997 13,846
Cash paid for taxes, net   12,294 17,150
Purchases of capital assets included in accounts payable or other accrued liabilities at period end   $ 9,736 $ 1,296