XML 71 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 28, 2013
Dec. 29, 2012
Dec. 31, 2011
Operating activities      
Net income $ 88,784 $ 75,332 $ 87,024
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 25,201 25,344 25,641
Amortization of intangibles 9,279 6,089 6,611
Impairment of assets   549 2,320
Provision for bad debts 289 242 444
Non-cash inventory charge 1,525 567 4,145
Pension settlement losses   5,348  
Impairment and equity in net loss of unconsolidated affiliate 10,678 7,334  
Loss (gain) on sale of property, plant and equipment 92 (1,443) 183
Stock-based compensation 8,609 7,348 5,805
Excess tax benefit on share-based compensation (4,054) (2,728) (4,220)
Deferred income taxes 6,640 (2,661) (1,363)
Changes in operating assets and liabilities:      
Accounts receivable (16,683) (1,587) 4,768
Inventories (5,486) 5,439 2,612
Accounts payable 2,000 5,353 (5,272)
Accrued expenses (including post-retirement) (8,906) (9,570) (421)
Accrued payroll and severance 8,032 (4,387) (3,226)
Accrued taxes (10,773) (357) (6,057)
Prepaid expenses and other 2,140 (42) 1,756
Net cash provided by operating activities 117,367 116,170 120,750
Investing activities      
Acquisitions of businesses, net of cash acquired (144,382) (34,016) (11,077)
Purchases of short-term investments (8,478) (4,616) (14,228)
Proceeds from maturities of short-term investments 2,044 17,805  
Investments in unconsolidated affiliate   (10,000) (6,000)
Loan to unconsolidated affiliate   (2,000)  
Purchases of property, plant and equipment (34,953) (22,529) (17,555)
Proceeds from sale of property, plant and equipment 176 3,664 217
Net cash used in investing activities (185,593) (51,692) (48,643)
Financing activities      
Proceeds from debt 260,500 23,251 110,000
Payments of term debt (1,250)   (49,000)
Payments of revolving credit facility (123,500) (25,032) (50,000)
Proceeds from exercise of stock options 21,959 16,367 23,036
Debt issuance costs (809)   (716)
Cash dividends paid (18,722) (16,564) (14,508)
Excess tax benefit on share-based compensation 4,054 2,728 4,220
Purchases of common stock     (37,092)
Net cash provided by (used in) financing activities 142,232 750 (14,060)
Effect of exchange rate changes on cash and cash equivalents (4,218) 6,160 (3,751)
Increase in cash and cash equivalents 69,788 71,388 54,296
Cash and cash equivalents at beginning of year 235,404 164,016 109,720
Cash and cash equivalents at end of year $ 305,192 $ 235,404 $ 164,016