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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 26, 2022
Mar. 27, 2021
OPERATING ACTIVITIES    
Net income $ 124,839 $ 77,240
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,757 12,101
Non-cash interest charges 112 112
Provisions for losses on trade and other accounts receivable 2,626 547
Gains on sales/disposals of operating property (165) (24)
Deferred income taxes, net 1,324 (1,110)
Stock-based compensation 1,995 4,029
Changes in operating assets and liabilities:    
(Increase) decrease in trade and other accounts receivable (93,542) 33,440
Decrease in other assets 2,531 6,175
Increase in accounts payable 22,207 33,935
Increase in other liabilities 11,910 13,008
Increase (decrease) in insurance claims 7,371 (109,562)
NET CASH PROVIDED BY OPERATING ACTIVITIES 94,965 69,891
INVESTING ACTIVITIES    
Sales and maturities of investments 12,420 7,957
Purchases of investments (13,428) (8,716)
Purchases of operating property (3,609) (4,076)
Proceeds from sales of operating property 643 500
NET CASH USED BY INVESTING ACTIVITIES (3,974) (4,335)
FINANCING ACTIVITIES    
(Decrease) increase in cash overdraft (20,263) 6
Dividends paid (84,711) (84,837)
Proceeds from exercises of stock options 56 77
Taxes paid in lieu of shares issued related to stock-based compensation plans (10,183) (1,241)
Borrowings on revolving credit facility 70,000 0
Purchases of common stock (109,332) 0
Principal payments on finance lease obligations (9,532) (9,778)
NET CASH USED BY FINANCING ACTIVITIES (163,965) (95,773)
Effect of exchange rate changes on cash and cash equivalents 815 252
Decrease in cash, cash equivalents and restricted cash (72,159) (29,965)
Cash, cash equivalents and restricted cash at beginning of period 219,571 249,354
Cash, cash equivalents and restricted cash at end of period $ 147,412 $ 219,389