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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 27, 2022
Mar. 28, 2021
Cash flows from operating activities    
Net income $ 4,725 $ 41,109
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,685 14,717
Amortization of right of use asset 5,400 2,166
Stock-based compensation expense 7,054 4,185
Change in long-term retirement benefit obligations (4,555) (4,004)
Fair market value adjustment on life insurance products 514 208
Other – net (12,198) (1,277)
Changes in operating assets and liabilities, net of business acquisitions:    
Accounts receivable – net 40,930 38,522
Other assets (6,646) (3,768)
Accounts payable, accrued payroll and other liabilities (75,571) (68,428)
Unexpired subscriptions 7,003 9,499
Net cash provided by operating activities (14,659) 32,929
Cash flows from investing activities    
Purchases of marketable securities (2,492) (177,543)
Maturities of marketable securities 442,895 155,782
Business acquisitions, net of cash acquired (515,299) 0
Sales of investments – net (958) (70)
Capital expenditures (8,580) (6,394)
Other-net 425 2,017
Net cash used in investing activities (84,009) (26,208)
Long-term obligations:    
Dividends paid (11,839) (10,072)
Payment of contingent consideration (1,724) 0
Capital shares:    
Proceeds from stock option exercises 3 2,447
Repurchases (29,034) 0
Share-based compensation tax withholding (9,328) (10,483)
Net cash used in financing activities (51,922) (18,108)
Net decrease in cash, cash equivalents and restricted cash (150,590) (11,387)
Effect of exchange rate changes on cash (164) (341)
Cash, cash equivalents and restricted cash at the beginning of the period 334,306 301,964
Cash, cash equivalents and restricted cash at the end of the period $ 183,552 $ 290,236