XML 40 R7.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 28, 2020
Mar. 30, 2019
Cash flows from operating activities    
Consolidated net income $ 33,951 $ 17,139
Reconciliation of consolidated net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 11,119 10,635
Stock-based compensation expense 1,985 2,007
Provision for doubtful accounts receivable 1,100 (38)
Loss from unconsolidated affiliates 6,115 15,369
Loss on disposals of properties 32 37
Impairment charges 3,035 0
Deferred income tax expense (benefit) 213 (225)
Changes in assets and liabilities, net of effects of business acquired:    
Receivables (46,291) (34,029)
Inventories 17,450 (13,335)
Other assets 8,010 (7,530)
Current liabilities (10,821) (15,885)
Other liabilities (1,643) 741
Other, net 3,796 441
Net cash provided by (used in) operating activities 28,051 (24,673)
Cash flows from investing activities    
Capital expenditures (17,094) (6,834)
Acquisition of business, net of cash acquired (15,407) 0
Investments in unconsolidated affiliates 0 (8,000)
Proceeds from sales of assets 0 4
Net cash used in investing activities (32,501) (14,830)
Cash flows from financing activities    
Dividends paid to stockholders of Mueller Industries, Inc. 0 (5,574)
Repurchase of common stock (5,574) (1,763)
Issuance of long-term debt 110,000 100,557
Repayments of long-term debt (20,572) (30,472)
Issuance (repayment) of debt by consolidated joint ventures, net 189  
Issuance (repayment) of debt by consolidated joint ventures, net   (2,121)
Net cash received (used) to settle stock-based awards 464  
Net cash received (used) to settle stock-based awards   (175)
Net cash provided by financing activities 84,507 60,452
Effect of exchange rate changes on cash (6,135) 919
Increase in cash, cash equivalents, and restricted cash 73,922 21,868
Cash, cash equivalents, and restricted cash at the beginning of the period 98,042 77,138
Cash, cash equivalents, and restricted cash at the end of the period $ 171,964 $ 99,006