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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 25, 2016
Sep. 27, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 40,761 $ 30,183
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 7,994 5,796
Amortization of intangible assets 9,680 5,995
Stock-based compensation expense 4,798 3,426
Deferred financing cost amortization 453 345
Deferred income taxes (1,931) (2,679)
Loss on sale of fixed assets 47 0
Other non-cash items 296 248
Change in operating assets and liabilities, net of effects of acquisitions:    
Trade receivables (27,207) (17,648)
Inventories (9,683) (3,695)
Prepaid expenses and other 1,387 3,044
Accounts payable and accrued liabilities 23,376 580
Payments on deferred compensation obligations (238) (255)
Net cash provided by operating activities 49,733 25,340
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (10,866) (4,731)
Proceeds from sale of property and equipment 241 100
Business acquisitions (112,080) (139,168)
Other investing activities (21) 651
Net cash used in investing activities (122,726) (143,148)
CASH FLOWS FROM FINANCING ACTIVITIES    
Term debt borrowings 29,002 75,000
Term debt repayments (5,358) (2,679)
Borrowings on revolver 262,583 231,502
Repayments on revolver (209,856) (180,056)
Payment of deferred financing costs (380) (1,887)
Stock repurchases under buyback program (4,667) (5,650)
Realization of excess tax benefit on stock-based compensation 1,256 1,080
Proceeds from exercise of stock options, including tax benefit 1,865 1,861
Other financing activities (62) (76)
Net cash provided by financing activities 74,383 119,095
Increase in cash and cash equivalents 1,390 1,287
Cash and cash equivalents at beginning of year 87 123
Cash and cash equivalents at end of period $ 1,477 $ 1,410