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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Cash Flows from Operating Activities:    
Net income $ 36,660 $ 44,905
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, amortization and accretion 15,035 14,097
Gain on equity method investment (2,498)  
Provision for doubtful accounts 105 21
Benefit for deferred income taxes (1,074) (64)
Provision for stock-based compensation 2,718 2,047
Changes in assets and liabilities:    
Accounts receivable 151,818 21,500
Inventories 11,564 (21,235)
Prepaids and other current assets 2,462 (11,200)
Other assets (4,779) 2,238
Accounts payable (8,665) (6,925)
Accrued customer rebates and returns 7,557 (7,345)
Accrued compensation and other liabilities 8,498 (1,491)
Cash provided by operating activities 219,401 36,548
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired (14,308)  
Property, plant and equipment additions (7,143) (17,335)
Cash used in investing activities (21,451) (17,335)
Cash Flows from Financing Activities:    
Net proceeds of revolving credit line 99,000  
Other stock related activity 120 92
Purchase and cancellation of common stock (5,865) (24,339)
Cash provided by (used in) financing activities 93,255 (24,247)
Net Increase (Decrease) in Cash and Cash Equivalents 291,205 (5,034)
Cash and Cash Equivalents, Beginning of Period 68,353 43,458
Cash and Cash Equivalents, End of Period 359,558 38,424
Supplemental Cash Flow Information    
Cash paid for interest expense 433 90
Cash paid for income taxes $ 1,750 $ 21,730