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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
OPERATING ACTIVITIES    
Net income $ 71,009 $ 116,428
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 41,953 38,988
Amortization of intangibles 29,912 30,068
Deferred revenue (438) (228)
Impairment charges 36,078 322
Stock-based compensation 14,544 15,738
(Gain) loss on investments and other assets (1,200) 559
Deferred income taxes 1,567 (203)
Other (8,549) 8,267
Changes in operating assets and liabilities:    
Trade receivables (29,362) 2,781
Inventories (1,611) 18,102
Accounts payable 6,661 (29,453)
Accrued liabilities and income taxes (2,095) (44,241)
Prepaid expenses and other assets 5,787 3,735
Net cash provided by operating activities 164,256 160,863
INVESTING ACTIVITIES    
Acquisitions of businesses, net of cash acquired 0 (775)
Purchases of property, plant, and equipment (41,536) (38,397)
Net proceeds from sale of property, plant and equipment 148 6,212
Net cash used in investing activities (41,388) (32,960)
FINANCING ACTIVITIES    
Proceeds of revolving credit facility 240,000 0
Payments of revolving credit facility (60,000) 0
Payments of term loan (145,000) (7,500)
Net proceeds related to stock-based award activities 6,437 4,412
Purchases of common stock (22,927) (99,387)
Debt issuance costs (1,786) 0
Cash dividends paid (35,100) (32,990)
Net cash used in financing activities (18,376) (135,465)
Effect of exchange rate changes on cash and cash equivalents 6,259 (6,114)
Increase (decrease) in cash and cash equivalents 110,751 (13,676)
Cash and cash equivalents at beginning of period 531,139 489,733
Cash and cash equivalents at end of period 641,890 476,057
Supplementary Cash Flow Information    
Cash paid during the period for interest 17,228 17,872
Capital expenditures, not yet paid $ 6,267 $ 8,978