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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Cash flows from operating activities    
Consolidated net income $ 106,395 $ 76,259
Reconciliation of consolidated net income to net cash provided by operating activities:    
Depreciation and amortization 33,127 32,095
Stock-based compensation expense 6,332 6,355
Provision for doubtful accounts receivable 953 (66)
Loss from unconsolidated affiliates 20,213 23,740
Loss (gain) on disposals of properties 144 (24)
Impairment charges 3,035 0
Change in fair value of contingent consideration 0 4,500
Deferred income tax benefit (836) (1,593)
Changes in assets and liabilities, net of effects of business acquired:    
Receivables (45,530) (47,367)
Inventories 41,598 50,985
Other assets 9,053 (7,485)
Current liabilities 25,913 1,687
Other liabilities (5,813) (7,112)
Other, net 2,294 (47)
Net cash provided by operating activities 196,878 131,927
Cash flows from investing activities    
Capital expenditures (29,204) (20,162)
Acquisition of businesses, net of cash acquired (72,648) 3,465
Investments in unconsolidated affiliates 0 (11,000)
Issuance of notes receivable (9,155) 0
Proceeds from sales of assets 12 385
Net cash used in investing activities (110,995) (27,312)
Cash flows from financing activities    
Dividends paid to stockholders of Mueller Industries, Inc. (16,754) (16,738)
Repurchase of common stock (5,574) (1,763)
Payment of contingent consideration (7,000) (3,170)
Issuance of long-term debt 150,027 100,658
Repayments of long-term debt (186,492) (151,305)
Repayment of debt by consolidated joint ventures, net (299) (4,352)
Net cash used to settle stock-based awards (160) (1,069)
Net cash used in financing activities (66,252) (77,739)
Effect of exchange rate changes on cash (3,294) (1,511)
Increase in cash, cash equivalents, and restricted cash 16,337 25,365
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 $ 114,379 $ 102,503