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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 02, 2022
Jun. 26, 2021
Jul. 02, 2022
Jun. 26, 2021
OPERATING ACTIVITIES        
Net income $ 87,016 $ 82,095 $ 204,534 $ 139,808
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation 15,700 13,600 31,302 27,251
Amortization of intangibles 11,592 10,641 24,316 21,162
Deferred revenue     315 (316)
Non-cash inventory charges     4,769 6,807
Stock-based compensation     15,268 12,238
Loss (gain) on investments and other assets     12,506 (8,865)
Deferred income taxes     (2,422) (2,172)
Other     28,605 7,842
Changes in operating assets and liabilities:        
Trade receivables     (76,807) (69,881)
Inventories     (70,285) (38,205)
Accounts payable     9,153 38,955
Accrued liabilities and income taxes     (23,107) 4,488
Prepaid expenses and other assets     7,175 (12,766)
Net cash provided by operating activities     165,322 126,346
INVESTING ACTIVITIES        
Acquisitions of businesses, net of cash acquired     (9,758) (109,852)
Purchases of property, plant, and equipment     (56,151) (32,657)
Net proceeds from sale of property, plant and equipment, and other     542 2,569
Net cash used in investing activities     (65,367) (139,940)
FINANCING ACTIVITIES        
Payments of revolving credit facility     0 (30,000)
Proceeds of term loan     300,000 0
Payments of senior notes payable     (25,000) 0
Net proceeds related to stock-based award activities     (1,626) 4,413
Debt issuance costs (2,200)   (2,156) 0
Cash dividends paid     (26,201) (23,596)
Net cash provided by (used in) financing activities     245,017 (49,183)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash     (15,511) (2,894)
Increase (decrease) in cash, cash equivalents, and restricted cash     329,461 (65,671)
Cash, cash equivalents, and restricted cash at beginning of period     482,836 687,525
Cash, cash equivalents, and restricted cash at end of period 812,297 621,854 812,297 621,854
Supplementary Cash Flow Information        
Cash and cash equivalents 809,122 616,330 809,122 616,330
Restricted cash included in prepaid expenses and other current assets 1,653 3,790 1,653 3,790
Restricted cash included in other long-term assets 1,522 1,734 1,522 1,734
Cash paid interest during the period $ 2,300 $ 2,500 8,365 8,719
Capital expenditures, not yet paid     $ 7,243 $ 6,826