XML 20 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Cash flows from operating activities    
Consolidated net income $ 58,288 $ 56,924
Reconciliation of consolidated net income to net cash provided by operating activities:    
Depreciation and amortization 17,093 18,162
Stock-based compensation expense 3,692 2,874
Loss (income) from unconsolidated affiliates 1,352 (1,927)
Gain on sale of business (1,631) 0
Loss (gain) on disposals of assets 81 (555)
Gain on sales of securities (611) 0
Impairment charges 411 0
Deferred income taxes 3 3,548
Income tax benefit from exercise of stock options 0 (186)
Changes in assets and liabilities, net of businesses acquired and sold:    
Receivables (47,108) (52,334)
Inventories (10,874) 1,176
Other assets (4,723) 17,009
Current liabilities (1,262) (1,314)
Other liabilities (1,086) (1,440)
Other, net (1,078) (72)
Net cash provided by operating activities 12,547 41,865
Cash flows from investing activities    
Capital expenditures (11,908) (10,248)
Acquisition of businesses, net of cash acquired (18,419) (20,533)
Proceeds from sale of business, net of cash sold 17,483 0
Net withdrawals from restricted cash balances 4,650 1,508
Investment in unconsolidated affiliates (1,617) 0
Proceeds from sales of assets 1,363 1,482
Proceeds from sales of securities 1,787 0
Net cash used in investing activities (6,661) (27,791)
Cash flows from financing activities    
Dividends paid to stockholders of Mueller Industries, Inc. (185,539) (9,887)
Dividends paid to noncontrolling interests (2,909) 0
Issuance of long-term debt 0 2,000
(Repayment) issuance of debt by consolidated joint ventures, net (3,320) 4,426
Net cash (used) received to settle stock-based awards (785) 326
Repayments of long-term debt (611) (500)
Income tax benefit from exercise of stock options 0 186
Net cash used in financing activities (193,164) (3,449)
Effect of exchange rate changes on cash 3,516 (2,308)
(Decrease) increase in cash and cash equivalents (183,762) 8,317
Cash and cash equivalents at the beginning of the period 351,317 274,844
Cash and cash equivalents at the end of the period $ 167,555 $ 283,161