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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 24, 2022
Cash flows from operating activities    
Consolidated net income $ 490,353 $ 522,585
Reconciliation of consolidated net income to net cash provided by operating activities:    
Depreciation and amortization 31,053 33,261
Stock-based compensation expense 17,268 12,254
Provision for doubtful accounts receivable (63) 327
Loss (income) from unconsolidated affiliates 2,682 (6,026)
Insurance proceeds - noncapital related 9,854 1,646
Gain on disposals of properties (106) (7,107)
Gain on sale of business (4,137) 0
Unrealized gain on short-term investments (18,449) 0
Impairment charges 5,934 0
Gain on insurance settlement (19,466) 0
Deferred income tax expense 3,803 226
Changes in assets and liabilities, net of effects of business sold:    
Receivables (36,855) 15,741
Inventories 53,372 (33,768)
Other assets (12,897) (8,574)
Current liabilities (25,503) (5,331)
Other liabilities (1,828) (7,399)
Other, net 3,475 (923)
Net cash provided by operating activities 498,490 516,912
Cash flows from investing activities    
Capital expenditures (39,469) (29,555)
Investments in unconsolidated affiliates (3,999) 0
Insurance proceeds - capital related 24,646 3,354
Purchase of short-term investments (106,231) 0
Proceeds from the maturity of short-term investments 217,863 0
Proceeds from sales of assets 214 7,841
Dividends from unconsolidated affiliates 1,093 2,091
Net cash provided by (used in) investing activities 94,117 (16,269)
Cash flows from financing activities    
Dividends paid to stockholders of Mueller Industries, Inc. (50,133) (41,876)
Repurchase of common stock (19,303) (38,054)
Repayments of debt (185) (148)
(Repayment) issuance of debt by consolidated joint ventures, net (265) 406
Net cash used to settle stock-based awards (9,113) (1,619)
Net cash used in financing activities (78,999) (81,291)
Effect of exchange rate changes on cash 2,312 (10,310)
Increase in cash, cash equivalents, and restricted cash 515,920 409,042
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 $ 981,216 $ 499,418