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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Oct. 01, 2016
Sep. 26, 2015
Operating activities:    
Net income $ 77,243 $ 60,003
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 24,841 22,154
Amortization of intangibles 13,384 8,952
Impairment of goodwill and intangible assets 14,809
Loss on sale of product line 1,391
Stock-based compensation 9,166 7,997
Inventory Charge Related to Step-up in Cost Basis 7,456
Net loss on pension settlement, net of tax 19,472
Excess tax benefit on share-based compensation (2,272) (1,500)
Loss on sale of property, plant and equipment 440 308
Accounts receivable (24,862) (18,274)
Inventories 4,505 (4,203)
Accounts payable 7,845 4,216
Accrued expenses (including post-retirement) 6,497 6,577
Accrued payroll and severance 1,388 3,598
Accrued taxes (23,613) 4,006
Prepaid expenses and other (18,203) 277
Net cash provided by operating activities 100,015 113,583
Investing activities:    
Purchases of property, plant, and equipment (34,501) (35,016)
Acquisition of businesses, net of cash acquired (468,636)
Proceeds from maturities of short term investments 345
Decrease in entrusted loan receivable 4,056 5,930
Proceeds from sale of assets 255 38
Net cash used in investing activities (498,481) (29,048)
Financing activities:    
Proceeds of revolving credit facility 258,000 49,000
Proceeds of term loan 234,000
Payments of revolving credit facility (97,500) (25,000)
Payments of term loan (119,125) (3,750)
Payments of entrusted loan (4,056) (5,930)
Debt issuance costs (1,701) (42)
Cash dividends paid (20,405) (17,864)
Proceeds from exercise of stock options 14,581 6,186
Excess tax benefit on share-based compensation 2,272 1,500
Purchases of common stock (3,685) (31,252)
Net cash (used in) provided by financing activities 262,381 (27,152)
Effect of exchange rate changes on cash and cash equivalents 1,793 (18,314)
Increase (decrease) in cash and cash equivalents (134,292) 39,069
Cash and cash equivalents at beginning of period 328,786 297,571
Cash and cash equivalents at end of period $ 194,494 $ 336,640