XML 41 R8.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Mar. 28, 2020
Mar. 30, 2019
Cash Flows from Operating Activities    
Net income (loss) $ 4,235 $ 24,661
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Stock-based compensation 5,095 4,689
Fair value adjustment to acquired inventory 1,140 984
Net periodic pension benefit cost 922 584
Depreciation 12,069 10,249
Amortization 11,055 8,219
Accretion of contingent consideration 456 0
(Gain) loss on sale or disposal of property and equipment 1,050 510
Amortization of debt issuance costs 1,444 2,099
Deferred income taxes 893 (1,243)
Bad debt provision (recovery), net (1,160) 503
Changes in operating assets and liabilities    
Accounts receivable and unbilled accounts receivable 18,728 (3,763)
Inventories, net (13,560) (12,942)
Prepaid expenses 774 (4,106)
Accounts payable 1,090 (10,378)
Accrued payroll and related costs (8,567) (5,629)
Advance payments from customers (12,507) 4,653
Accrued warranty costs 900 (671)
Other assets and liabilities (26,636) 12,250
Net Cash Provided by (Used in) Operating Activities (2,579) 30,669
Cash Flows from Investing Activities    
Purchases of property and equipment (16,281) (9,349)
Proceeds from sale of property and equipment 0 10
Purchases of business, net of acquired cash (48,104) (81,826)
Other 0 (285)
Net Cash Provided by (Used in) Investing Activities (64,385) (91,450)
Cash Flows from Financing Activities    
Proceeds from issuance of long-term debt 58,576 80,391
Payment of long-term debt (2,565) (1,423)
Payment of debt issuance costs for long-term debt (88) 0
Payment of debt component of tangible equity units 0 (4,818)
Payment of debt issuance costs for revolving credit facility (564) (542)
Receipts under short-term borrowings 80,000 30,000
Payments under short-term borrowings (48,000) (30,000)
Cash dividends (11,486) (10,724)
Proceeds from exercise of stock options and employee stock purchase plan 631 701
Payments to purchase and retire common stock (873) (398)
Net Cash Provided by (Used in) Financing Activities 75,631 63,187
Effect of Exchange Rate Changes on Cash and Cash Equivalents (22) (88)
Cash and Cash Equivalents    
Increase (decrease) in cash and cash equivalents during the period 8,645 2,318
Cash and cash equivalents balance, beginning of period 57,937 71,804
Cash and cash equivalents balance, end of period 66,582 74,122
Cash paid during the period for    
Interest 16,426 12,065
Income taxes 7,999 6,280
Non-cash investing and financing activities    
Contingent consideration assumed in acquisition 17,673 0
Dividends declared not yet paid $ 5,718 $ 5,328