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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 27, 2020
Dec. 29, 2019
Dec. 30, 2018
Cash flows from operating activities      
Net income $ 100,837 $ 139,966 $ 127,460
Adjustments to reconcile net income to net cash provided by operating activities:      
Pension settlement expense 80,641 0 0
Depreciation and amortization 62,136 60,661 59,011
Amortization of right of use asset 8,568 7,384  
Stock-based compensation expense 14,437 12,948 12,959
Gain from joint ventures (5,000) 0 (10,764)
Deferred income taxes (16,043) 4,242 4,047
Gain on non-marketable equity investment (10,074) (1,886) 0
Long-term retirement benefit obligations (17,166) (22,914) (46,877)
Fair market value adjustment on life insurance products (578) (3,461) 821
Uncertain tax positions 0 (4,627) (138)
Other – net 62 700 456
Changes in operating assets and liabilities:      
Accounts receivable – net 29,710 9,062 (37,579)
Other current assets 8,960 (3,355) 18,241
Accounts payable, accrued payroll and other liabilities 24,516 (13,197) 20,490
Unexpired subscriptions 16,927 4,375 8,990
Net cash provided by operating activities 297,933 189,898 157,117
Cash flows from investing activities      
Purchases of marketable securities (632,364) (572,337) (470,493)
Maturities/disposals of marketable securities 491,128 707,632 434,012
Business acquisitions (33,085) 0 0
Proceeds from investments 6,841 85 12,447
Capital expenditures (34,451) (45,441) (77,487)
Other - net 2,851 3,273 426
Net cash (used) in/provided by investing activities (199,080) 93,212 (101,095)
Cash flows from financing activities      
Repayment of debt and capital lease obligations 0 (252,559) (552)
Dividends paid (38,437) (31,604) (26,418)
Payments (862) 0 0
Stock issuances 6,071 4,520 41,288
Share-based compensation tax withholding (11,745) (15,648) (10,494)
Net cash (used) in/provided by financing activities (44,973) (295,291) 3,824
Net increase/(decrease) in cash, cash equivalents and restricted cash 53,880 (12,181) 59,846
Effect of exchange rate changes on cash, cash equivalents and restricted cash 566 (100) (983)
Cash, cash equivalents and restricted cash at the beginning of the year 247,518 259,799 200,936
Cash, cash equivalents and restricted cash at the end of the year 301,964 247,518 259,799
Cash payments      
Interest, net of capitalized interest 508 28,049 28,133
Income tax payments/(refunds) – net $ 24,382 $ 30,407 $ (1,070)