XML 54 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 27, 2014
Dec. 28, 2013
Dec. 29, 2012
Operating activities:      
Consolidated net income $ 102,534us-gaap_ProfitLoss $ 173,289us-gaap_ProfitLoss $ 83,673us-gaap_ProfitLoss
Reconciliation of net income to net cash provided by operating activities:      
Depreciation 30,205us-gaap_Depreciation 30,946us-gaap_Depreciation 30,326us-gaap_Depreciation
Amortization of intangibles 3,530us-gaap_AmortizationOfIntangibleAssets 1,448us-gaap_AmortizationOfIntangibleAssets 1,169us-gaap_AmortizationOfIntangibleAssets
Amortization of debt issuance costs 341us-gaap_AmortizationOfFinancingCosts 299us-gaap_AmortizationOfFinancingCosts 438us-gaap_AmortizationOfFinancingCosts
Stock-based compensation expense 6,265us-gaap_ShareBasedCompensation 5,704us-gaap_ShareBasedCompensation 6,136us-gaap_ShareBasedCompensation
Insurance settlements 0mli_InsuranceGain (106,332)mli_InsuranceGain (1,500)mli_InsuranceGain
(Gain) loss on disposal of assets (5,405)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (42,300)us-gaap_GainLossOnSaleOfPropertyPlantEquipment 1,411us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Insurance proceeds - noncapital related 0us-gaap_ProceedsFromInsuranceSettlementOperatingActivities 32,395us-gaap_ProceedsFromInsuranceSettlementOperatingActivities 14,250us-gaap_ProceedsFromInsuranceSettlementOperatingActivities
Impairment charges 0us-gaap_AssetImpairmentCharges 4,304us-gaap_AssetImpairmentCharges 0us-gaap_AssetImpairmentCharges
Income tax benefit from exercise of stock options (837)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (719)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (2,528)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Deferred income taxes (6,495)us-gaap_DeferredIncomeTaxExpenseBenefit 19,213us-gaap_DeferredIncomeTaxExpenseBenefit (1,284)us-gaap_DeferredIncomeTaxExpenseBenefit
(Recovery of) provision for doubtful accounts receivable (500)us-gaap_ProvisionForDoubtfulAccounts (273)us-gaap_ProvisionForDoubtfulAccounts 837us-gaap_ProvisionForDoubtfulAccounts
Changes in assets and liabilities, net of businesses acquired and sold:      
Receivables (21,432)us-gaap_IncreaseDecreaseInAccountsReceivable 19,383us-gaap_IncreaseDecreaseInAccountsReceivable (23,690)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories 1,381us-gaap_IncreaseDecreaseInInventories 5,963us-gaap_IncreaseDecreaseInInventories (4,834)us-gaap_IncreaseDecreaseInInventories
Other assets (23,652)us-gaap_IncreaseDecreaseInOtherOperatingAssets 562us-gaap_IncreaseDecreaseInOtherOperatingAssets (14,985)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Current liabilities 5,849us-gaap_IncreaseDecreaseInOperatingLiabilities (14,139)us-gaap_IncreaseDecreaseInOperatingLiabilities 8,368us-gaap_IncreaseDecreaseInOperatingLiabilities
Other liabilities (2,223)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (1,935)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 9,345us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Other, net 1,044us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet 705us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet 1,165us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash provided by operating activities 90,605us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 128,513us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 108,297us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Investing activities:      
Proceeds from sale of assets, net of cash transferred 33,788us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 65,147us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 517us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Acquisition of businesses, net of cash acquired (30,137)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (55,276)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (11,561)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Capital expenditures (39,173)us-gaap_PaymentsToAcquireProductiveAssets (41,349)us-gaap_PaymentsToAcquireProductiveAssets (56,825)us-gaap_PaymentsToAcquireProductiveAssets
Insurance proceeds 0us-gaap_ProceedsFromInsuranceSettlementInvestingActivities 29,910us-gaap_ProceedsFromInsuranceSettlementInvestingActivities 42,250us-gaap_ProceedsFromInsuranceSettlementInvestingActivities
Net (deposits into) withdrawals from restricted cash balances (2,902)us-gaap_IncreaseDecreaseInRestrictedCash (1,417)us-gaap_IncreaseDecreaseInRestrictedCash 9,243us-gaap_IncreaseDecreaseInRestrictedCash
Net cash used in investing activities (38,424)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (2,985)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (16,376)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Financing activities:      
Dividends paid to stockholders of Mueller Industries, Inc. (16,819)us-gaap_PaymentsOfDividends (13,941)us-gaap_PaymentsOfDividends (14,891)us-gaap_PaymentsOfDividends
Repurchase of common stock 0us-gaap_PaymentsForRepurchaseOfCommonStock 0us-gaap_PaymentsForRepurchaseOfCommonStock (427,446)us-gaap_PaymentsForRepurchaseOfCommonStock
Repayments of long-term debt (1,050)us-gaap_RepaymentsOfLongTermDebt (1,000)us-gaap_RepaymentsOfLongTermDebt (149,176)us-gaap_RepaymentsOfLongTermDebt
Issuance (repayment) of debt by joint venture, net 7,258us-gaap_ProceedsFromRepaymentsOfDebt 857us-gaap_ProceedsFromRepaymentsOfDebt (14,429)us-gaap_ProceedsFromRepaymentsOfDebt
Issuance of long-term debt 0us-gaap_ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities 0us-gaap_ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities 200,000us-gaap_ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
Net cash used to settle stock-based awards (777)us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards (228)us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards (4,181)us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards
Income tax benefit from exercise of stock options 837us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 719us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 2,528us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Debt issuance costs 0us-gaap_PaymentsOfDebtIssuanceCosts (50)us-gaap_PaymentsOfDebtIssuanceCosts (1,053)us-gaap_PaymentsOfDebtIssuanceCosts
Net cash used in financing activities (10,551)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (13,643)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (408,648)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash (1,296)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 981us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 1,499us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Increase (decrease) in cash and cash equivalents 40,334us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 112,866us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (315,228)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at the beginning of the year 311,800us-gaap_CashAndCashEquivalentsAtCarryingValue 198,934us-gaap_CashAndCashEquivalentsAtCarryingValue 514,162us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at the end of the year $ 352,134us-gaap_CashAndCashEquivalentsAtCarryingValue $ 311,800us-gaap_CashAndCashEquivalentsAtCarryingValue $ 198,934us-gaap_CashAndCashEquivalentsAtCarryingValue