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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
OPERATING ACTIVITIES    
Net income $ 216,604 $ 280,002
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 53,510 48,326
Amortization of intangibles 49,773 39,883
Deferred revenue 1,769 (377)
Non-cash inventory charges 0 11,534
Impairment charges 4,742 90
Stock-based compensation 20,132 19,732
Loss on investments and other assets 922 13,740
Deferred income taxes (689) (4,320)
Other 7,829 55,334
Changes in operating assets and liabilities:    
Trade receivables (21,752) (56,431)
Inventories 66,456 (83,803)
Accounts payable (38,475) (3,838)
Accrued liabilities and income taxes (61,359) (4,399)
Prepaid expenses and other assets 13,678 (2,034)
Net cash provided by operating activities 313,140 313,439
INVESTING ACTIVITIES    
Acquisitions of businesses, net of cash acquired (198,810) (532,772)
Purchases of property, plant, and equipment (63,166) (77,773)
Net proceeds from sale of property, plant and equipment, and other 597 565
Net cash used in investing activities (261,379) (609,980)
FINANCING ACTIVITIES    
Proceeds of term loan 0 300,000
Proceeds of senior notes 0 100,000
Payments of senior notes payable 0 (25,000)
Repayments of other debts (2,027) (5,979)
Payments of term loan (5,625) (1,875)
Net proceeds related to stock-based award activities 6,481 (1,568)
Debt issuance costs 0 (2,600)
Cash dividends paid (45,973) (41,055)
Net cash (used in) provided by financing activities (47,144) 321,923
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (7,965) (31,963)
Decrease in cash, cash equivalents, and restricted cash (3,348) (6,581)
Cash, cash equivalents, and restricted cash at beginning of period 564,939 482,836
Cash, cash equivalents, and restricted cash at end of period 561,591 476,255
Supplementary Cash Flow Information    
Cash and cash equivalents 560,056 474,003
Restricted cash included in prepaid expenses and other current assets 0 824
Restricted cash included in other long-term assets 1,535 1,428
Cash paid during the period for interest 33,177 16,888
Capital expenditures, not yet paid $ 9,780 $ 9,111