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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2023
Jun. 25, 2022
Cash flows from operating activities    
Consolidated net income $ 354,644 $ 366,772
Reconciliation of consolidated net income to net cash provided by operating activities:    
Depreciation and amortization 21,252 22,322
Stock-based compensation expense 12,459 5,171
Provision for doubtful accounts receivable (80) 151
Loss (income) from unconsolidated affiliates 269 (5,012)
Insurance proceeds - noncapital related 9,854 0
Gain on disposals of properties (141) (6,800)
Unrealized gain on short-term investments 20,820 0
Gain on insurance settlement (19,466) 0
Deferred income tax expense (benefit) 2,406 (373)
Changes in assets and liabilities:    
Receivables (77,701) (146,438)
Inventories (12,149) (49,354)
Other assets (5,571) (6,095)
Current liabilities (14,460) 28,906
Other liabilities (976) (4,283)
Other, net 1,310 (433)
Net cash provided by operating activities 250,830 204,534
Cash flows from investing activities    
Capital expenditures (29,221) (23,248)
Insurance proceeds - capital related 24,646 0
Purchase of short-term investments (106,231) 0
Proceeds from the maturity of short-term investments 217,863 0
Proceeds from sales of assets 142 7,561
Dividends from unconsolidated affiliates 797 1,609
Net cash provided by (used in) investing activities 107,996 (14,078)
Cash flows from financing activities    
Dividends paid to stockholders of Mueller Industries, Inc. (33,402) (27,968)
Repurchase of common stock (19,303) (33,469)
Repayments of debt (130) (111)
(Repayment) issuance of debt by consolidated joint ventures, net (143) 360
Net cash used to settle stock-based awards (2,588) (95)
Net cash used in financing activities (55,566) (61,283)
Effect of exchange rate changes on cash 4,825 (2,234)
Increase in cash, cash equivalents, and restricted cash 308,085 126,939
Cash, cash equivalents, and restricted cash at the beginning of the period 465,296 90,376
Cash, cash equivalents, and restricted cash at the end of the period $ 773,381 $ 217,315