XML 20 R7.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Cash flows from operating activities    
Consolidated net income $ 62,438 $ 45,815
Reconciliation of consolidated net income to net cash provided by operating activities:    
Depreciation and amortization 22,296 21,192
Stock-based compensation expense 4,198 4,302
Provision for doubtful accounts receivable 1,850 (100)
Loss from unconsolidated affiliates 14,756 21,212
Gain on disposals of properties (9) (37)
Impairment charges 3,035 0
Deferred income tax expense (benefit) 764 (67)
Changes in assets and liabilities, net of effects of business acquired:    
Receivables (11,212) (42,045)
Inventories 43,263 30,080
Other assets 3,967 (4,617)
Current liabilities (277) (9,735)
Other liabilities (5,369) (1,485)
Other, net 3,082 (532)
Net cash provided by operating activities 142,782 63,983
Cash flows from investing activities    
Capital expenditures (22,215) (13,034)
Acquisition of business, net of cash acquired (15,415) 3,465
Investments in unconsolidated affiliates 0 (10,500)
Proceeds from sales of assets 1 351
Net cash used in investing activities (37,629) (19,718)
Cash flows from financing activities    
Dividends paid to stockholders of Mueller Industries, Inc. (11,168) (11,151)
Repurchase of common stock (5,574) (1,763)
Issuance of long-term debt 110,015 100,638
Repayments of long-term debt (166,021) (110,914)
Repayment of debt by consolidated joint ventures, net (471) (4,132)
Net cash received (used) to settle stock-based awards 696  
Net cash received (used) to settle stock-based awards   (127)
Net cash used in financing activities (72,523) (27,449)
Effect of exchange rate changes on cash (6,160) 118
Increase in cash, cash equivalents, and restricted cash 26,470 16,934
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 $ 124,512 $ 94,072