Quarterly Financial Data - Unaudited

12 Months Ended

Oct. 01, 2022

Quarterly Financial Data - Unaudited

Quarterly Financial Data - Unaudited

Note 20. Quarterly Financial Data – Unaudited

The following tables set forth selected unaudited quarterly financial information for the years ended October 1, 2022 and October 2, 2021. As described in Note 2, the Company has restated its unaudited quarterly financial information for each of the interim periods in the years ended October 1, 2022 and October 2, 2021. This information has been prepared on the same basis as the unaudited consolidated financial statements. The adjustments to the unaudited quarterly financial information below are the same as the Investigation Adjustments and Other Adjustments discussed in Note 2.

	As Restated
	Year ended October 1, 2022
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(In thousands, except per share data)
Net sales	$	1,756,326		$	1,915,070		$	2,023,361		$	2,224,865
Gross profit	$	141,297		$	146,495		$	162,185		$	172,229
Gross margin		8.0	%		7.6	%		8.0	%		7.7	%
Operating income	$	78,241		$	76,274		$	91,614		$	103,350
Operating margin		4.5	%		4.0	%		4.5	%		4.6	%
Net income	$	56,177		$	48,621		$	77,222		$	58,364
Basic net income per share	$	0.87		$	0.77		$	1.29		$	1.01
Diluted net income per share	$	0.85		$	0.76		$	1.25		$	0.98

	As Restated
	Year ended October 2, 2021
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(In thousands, except per share data)
Net sales	$	1,755,984		$	1,678,497		$	1,653,266		$	1,650,609
Gross profit	$	140,351		$	120,985		$	135,066		$	130,039
Gross margin		8.0	%		7.2	%		8.2	%		7.9	%
Operating income	$	74,675		$	42,610		$	72,741		$	65,910
Operating margin		4.3	%		2.5	%		4.4	%		4.0	%
Net income	$	49,558		$	27,868		$	116,195		$	55,925
Basic net income per share	$	0.76		$	0.43		$	1.78		$	0.86
Diluted net income per share	$	0.74		$	0.42		$	1.73		$	0.83

Consolidated Balance Sheets

The following table presents the impact of the financial statement adjustments on the Company’s previously reported Consolidated Balance Sheets as of January 1, 2022, April 2, 2022 and July 2, 2022.

	As of
	January 1, 2022								April 2, 2022								July 2, 2022
	Previously		Investigation		Other				Previously		Investigation		Other				Previously		Investigation		Other
	Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated
	(Unaudited) (In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	627,717	$	—	$	—	$	627,717	$	559,893	$	—	$	—	$	559,893	$	493,305	$	—	$	—	$	493,305
Accounts receivable, net of allowances		1,298,327		—		687		1,299,014		1,270,494		—		606		1,271,100		1,228,435		—		1,429		1,229,864
Contract assets		364,407		(31,772)		14,948		347,583		417,286		(33,512)		15,508		399,282		459,306		(34,918)		20,408		444,796
Inventories		1,242,440		(2,373)		13,630		1,253,697		1,437,955		(6,913)		12,579		1,443,621		1,591,111		(8,829)		7,841		1,590,123
Prepaid expenses and other current assets		59,188		—		—		59,188		61,525		—		—		61,525		63,827		—		—		63,827
Total current assets		3,592,079		(34,145)		29,265		3,587,199		3,747,153		(40,425)		28,693		3,735,421		3,835,984		(43,747)		29,678		3,821,915
Property, plant and equipment, net		525,159		—		—		525,159		525,362		—		—		525,362		545,673		—		—		545,673
Deferred tax assets		227,239		7,792		—		235,031		220,532		9,042		—		229,574		212,407		9,673		—		222,080
Other		157,533		—		—		157,533		156,867		—		—		156,867		149,608		—		—		149,608
Total assets	$	4,502,010	$	(26,353)	$	29,265	$	4,504,922	$	4,649,914	$	(31,383)	$	28,693	$	4,647,224	$	4,743,672	$	(34,074)	$	29,678	$	4,739,276
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,694,592	$	—	$	13,630	$	1,708,222	$	1,817,465	$	—	$	12,579	$	1,830,044	$	1,976,533	$	—	$	7,841	$	1,984,374
Accrued liabilities		236,227		2,100		15,635		253,962		314,648		1,669		16,114		332,431		303,076		1,299		21,837		326,212
Accrued payroll and related benefits		115,738		—		—		115,738		116,794		—		—		116,794		133,319		—		—		133,319
Short-term debt, including current portion of long-term debt		18,750		—		—		18,750		18,750		—		—		18,750		18,750		—		—		18,750
Total current liabilities		2,065,307		2,100		29,265		2,096,672		2,267,657		1,669		28,693		2,298,019		2,431,678		1,299		29,678		2,462,655
Long-term liabilities:
Long-term debt		307,160		—		—		307,160		302,751		—		—		302,751		298,345		—		—		298,345
Other		248,326		—		—		248,326		241,416		—		—		241,416		209,716		—		—		209,716
Total long-term liabilities		555,486		—		—		555,486		544,167		—		—		544,167		508,061		—		—		508,061
Contingencies (Note 11)
Stockholders’ equity		1,881,217		(28,453)		—		1,852,764		1,838,090		(33,052)		—		1,805,038		1,803,933		(35,373)		—		1,768,560
Total liabilities and stockholders’ equity	$	4,502,010	$	(26,353)	$	29,265	$	4,504,922	$	4,649,914	$	(31,383)	$	28,693	$	4,647,224	$	4,743,672	$	(34,074)	$	29,678	$	4,739,276

Consolidated Statements of Income

The following table presents the impact of the financial statement adjustments on the Company’s previously reported Consolidated Statements of Income for the three months ended January 1, 2022, April 2, 2022 and July 2, 2022.

	Three Months Ended
	January 1, 2022								April 2, 2022								July 2, 2022
	Previously		Investigation		Other				Previously		Investigation		Other				Previously		Investigation		Other
	Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated
	(Unaudited) (In thousands)
Net sales	$	1,757,325	$	(999)	$	—	$	1,756,326	$	1,911,530	$	3,540	$	—	$	1,915,070	$	2,019,059	$	4,302	$	—	$	2,023,361
Cost of sales		1,612,836		2,193		—		1,615,029		1,759,083		9,492		—		1,768,575		1,853,870		7,306		—		1,861,176
Gross profit		144,489		(3,192)		—		141,297		152,447		(5,952)		—		146,495		165,189		(3,004)		—		162,185
Operating expenses:
Selling, general and administrative		61,475		—		—		61,475		61,817		—		—		61,817		61,506		—		—		61,506
Research and development		4,777		—		—		4,777		5,472		—		—		5,472		5,071		—		—		5,071
Restructuring and other		1,414		—		—		1,414		2,932		—		—		2,932		3,994		—		—		3,994
Gain on sale of long-lived assets		(4,610)		—		—		(4,610)				—		—		—				—		—		—
Total operating expenses		63,056		—		—		63,056		70,221		—		—		70,221		70,571		—		—		70,571
Operating income		81,433		(3,192)		—		78,241		82,226		(5,952)		—		76,274		94,618		(3,004)		—		91,614
																								—
Interest income		309		—		—		309		349		—		—		349		540		—		—		540
Interest expense		(4,877)		—		—		(4,877)		(4,870)		—		—		(4,870)		(5,615)		—		—		(5,615)
Other income (expense), net		2,072		—		—		2,072		(1,408)		—		—		(1,408)		(7,774)		—		—		(7,774)
Interest and other, net		(2,496)		—		—		(2,496)		(5,929)		—		—		(5,929)		(12,849)		—		—		(12,849)
Income before income taxes		78,937		(3,192)		—		75,745		76,297		(5,952)		—		70,345		81,769		(3,004)		—		78,765
Provision for income taxes		20,303		(735)		—		19,568		23,077		(1,353)		—		21,724		2,226		(683)		—		1,543
Net income	$	58,634	$	(2,457)	$	—	$	56,177	$	53,220	$	(4,599)	$	—	$	48,621	$	79,543	$	(2,321)	$	—	$	77,222
Net income per share:
Basic	$	0.91	$	(0.04)	$	—	$	0.87	$	0.85	$	(0.08)	$	—	$	0.77	$	1.33	$	(0.04)	$	—	$	1.29
Diluted	$	0.89	$	(0.04)	$	—	$	0.85	$	0.83	$	(0.07)	$	—	$	0.76	$	1.29	$	(0.04)	$	—	$	1.25

The following table presents the impact of the financial statement adjustments on the Company’s previously reported Consolidated Statements of Income for the six and nine months ended April 2, 2022 and July 2, 2022, respectively.

	Six Months Ended								Nine Months Ended
	April 2, 2022								July 2, 2022
	Previously		Investigation		Other				Previously		Investigation		Other
	Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated
	(Unaudited) (In thousands)
Net sales	$	3,668,855	$	2,541	$	—	$	3,671,396	$	5,687,914	$	6,843	$	—	$	5,694,757
Cost of sales		3,371,919		11,685		—		3,383,604		5,225,789		18,991		—		5,244,780
Gross profit		296,936		(9,144)		—		287,792		462,125		(12,148)		—		449,977
Operating expenses:
Selling, general and administrative		123,292		—		—		123,292		184,798		—		—		184,798
Research and development		10,249		—		—		10,249		15,320		—		—		15,320
Restructuring and other		4,346		—		—		4,346		8,340		—		—		8,340
Gain on sale of long-lived assets		(4,610)		—		—		(4,610)		(4,610)		—		—		(4,610)
Total operating expenses		133,277		—		—		133,277		203,848		—		—		203,848
Operating income		163,659		(9,144)		—		154,515		258,277		(12,148)		—		246,129
Interest income		658		—		—		658		1,198		—		—		1,198
Interest expense		(9,747)		—		—		(9,747)		(15,362)		—		—		(15,362)
Other income (expense), net		664		—		—		664		(7,110)		—		—		(7,110)
Interest and other, net		(8,425)		—		—		(8,425)		(21,274)		—		—		(21,274)
Income before income taxes		155,234		(9,144)		—		146,090		237,003		(12,148)		—		224,855
Provision for income taxes		43,380		(2,088)		—		41,292		45,606		(2,771)		—		42,835
Net income	$	111,854	$	(7,056)	$	—	$	104,798	$	191,397	$	(9,377)	$	—	$	182,020
Net income per share:
Basic	$	1.76	$	(0.11)	$	—	$	1.65	$	3.07	$	(0.15)	$	—	$	2.92
Diluted	$	1.71	$	(0.11)	$	—	$	1.60	$	2.98	$	(0.15)	$	—	$	2.83

Consolidated Statements of Cash Flows

The following table presents the impact of the financial statement adjustments on the Company’s previously reported Consolidated Statements of Cash Flows for the periods indicated below.

	Three Months Ended								Six Months Ended								Nine Months Ended
	January 1, 2022								April 2, 2022								July 2, 2022
	Previously		Investigation		Other				Previously		Investigation		Other				Previously		Investigation		Other
	Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated
	(Unaudited) (In thousands)
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income	$	58,634	$	(2,457)	$	—	$	56,177	$	111,854	$	(7,056)	$	—	$	104,798	$	191,397	$	(9,377)	$	—	$	182,020
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization		27,465		—		—		27,465		55,032		—		—		55,032		82,097		—		—		82,097
Stock-based compensation expense		9,032		—		—		9,032		18,362		—		—		18,362		29,045		—		—		29,045
Deferred income taxes		6,707		(648)		—		6,059		11,071		(1,898)		—		9,173		18,522		(2,529)		—		15,993
Impairment of goodwill and other assets		—		—		—		—		—		—		—		—		1,848		—		—		1,848
Loss on sale of intellectual property
Other, net		(3,638)		—		—		(3,638)		(1,903)		—		—		(1,903)		(3,146)		—		—		(3,146)
Changes in operating assets and liabilities, net of amounts acquired:
Accounts receivable		(106,972)		—		316		(106,656)		(79,705)		—		397		(79,308)		(39,850)		—		(426)		(40,276)
Contract assets		(15,666)		3,064		(2,791)		(15,393)		(68,545)		4,804		(3,351)		(67,092)		(110,565)		6,210		(8,251)		(112,606)
Inventories		(207,300)		88		(6,066)		(213,278)		(403,396)		4,628		(5,015)		(403,783)		(559,118)		6,544		(277)		(552,851)
Prepaid expenses and other assets		(2,939)		—		—		(2,939)		(11,334)		—		—		(11,334)		(13,269)		—		—		(13,269)
Accounts payable		234,525		—		6,066		240,591		357,176		—		5,015		362,191		507,632		—		277		507,909
Accrued liabilities		68,452		(47)		2,475		70,880		158,661		(478)		2,954		161,137		144,363		(848)		8,677		152,192
Cash provided by operating activities	$	68,300	$	—	$	—	$	68,300	$	147,273	$	—	$	—	$	147,273	$	248,956	$	—	$	—	$	248,956

Consolidated Balance Sheets

The following table presents the impact of the financial statement adjustments on the Company’s previously reported Consolidated Balance Sheets as of January 2, 2021, April 3, 2021 and July 3, 2021.

	As of
	January 2, 2021								April 3, 2021								July 3, 2021
	Previously		Investigation		Other				Previously		Investigation		Other				Previously		Investigation		Other
	Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated
	(Unaudited) (In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	516,030	$	—	$	—	$	516,030	$	575,176	$	—			$	575,176	$	623,844	$	—	$	—	$	623,844
Accounts receivable, net of allowances		1,108,472		-		4,453		1,112,925		1,122,962		-		1,876		1,124,838		1,153,813		—		1,440		1,155,253
Contract assets		350,049		(9,427)		17,367		357,989		334,957		(27,204)		14,194		321,947		345,096		(29,357)		17,699		333,438
Inventories		819,474		—		—		819,474		785,406		—				785,406		892,633		—		—		892,633
Prepaid expenses and other current assets		48,851		—		—		48,851		38,584		—				38,584		50,446		—		—		50,446
Total current assets		2,842,876		(9,427)		21,820		2,855,269		2,857,085		(27,204)		16,070		2,845,951		3,065,832		(29,357)		19,139		3,055,614
Property, plant and equipment, net		541,188		-		(14,543)		526,645		529,651		-		(14,448)		515,203		550,038		—		(14,353)		535,685
Deferred tax assets		269,803		2,074		(690)		271,187		259,943		6,649		—		266,592		241,069		6,991		—		248,060
Other		125,867		-		14,543		140,410		123,550		-		14,448		137,998		145,651		—		14,353		160,004
Total assets	$	3,779,734	$	(7,353)	$	21,130	$	3,793,511	$	3,770,229	$	(20,555)	$	16,070	$	3,765,744	$	4,002,590	$	(22,366)	$	19,139	$	3,999,363
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,143,431	$	—	$	—	$	1,143,431	$	1,108,994	$	—	$	—	$	1,108,994	$	1,296,005	$	—	$	—	$	1,296,005
Accrued liabilities		190,797		(136)		18,920		209,581		176,148		3,621		16,070		195,839		149,236		2,990		19,139		171,365
Accrued payroll and related benefits		120,469		—		—		120,469		114,704		—		—		114,704		123,365		—		—		123,365
Short-term debt, including current portion of long-term debt		18,750		—		—		18,750		18,750		—		—		18,750		18,750		—		—		18,750
Total current liabilities		1,473,447		(136)		18,920		1,492,231		1,418,596		3,621		16,070		1,438,287		1,587,356		2,990		19,139		1,609,485
Long-term liabilities:
Long-term debt		324,825		—		—		324,825		320,405		—		—		320,405		315,987		—		—		315,987
Other		303,514		—		—		303,514		296,121		—		—		296,121		260,132		—		—		260,132
Total long-term liabilities		628,339		—		—		628,339		616,526		—		—		616,526		576,119		—		—		576,119
Contingencies (Note 11)
Stockholders’ equity		1,677,948		(7,217)		2,210		1,672,941		1,735,107		(24,176)		—		1,710,931		1,839,115		(25,356)		—		1,813,759
Total liabilities and stockholders’ equity	$	3,779,734	$	(7,353)	$	21,130	$	3,793,511	$	3,770,229	$	(20,555)	$	16,070	$	3,765,744	$	4,002,590	$	(22,366)	$	19,139	$	3,999,363

Consolidated Statements of Income

The following table presents the impact of the financial statement adjustments on the Company’s previously reported Consolidated Statements of Income for the periods indicated below.

	January 2, 2021								April 3, 2021								July 3, 2021
	Previously		Investigation		Other				Previously		Investigation		Other				Previously		Investigation		Other
	Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated
	(Unaudited) (In thousands)
Net sales	$	1,755,249	$	735	$	—	$	1,755,984	$	1,699,677	$	(21,180)	$	—	$	1,678,497	$	1,657,741	$	(4,475)	$	—	$	1,653,266
Cost of sales		1,614,014		1,619		—		1,615,633		1,556,579		933		—		1,557,512		1,521,151		(2,951)		—		1,518,200
Gross profit		141,235		(884)		—		140,351		143,098		(22,113)		—		120,985		136,590		(1,524)		—		135,066
Operating expenses:
Selling, general and administrative		58,967		—		—		58,967		61,142		—		—		61,142		57,438		—		—		57,438
Research and development		4,805		—		—		4,805		5,353		—		—		5,353		5,269		—		—		5,269
Restructuring and other		1,904		—		—		1,904		11,880		—		—		11,880		(382)		—		—		(382)
Total operating expenses		65,676		—		—		65,676		78,375		—		—		78,375		62,325		—		—		62,325
Operating income		75,559		(884)		—		74,675		64,723		(22,113)		—		42,610		74,265		(1,524)		—		72,741
Interest income		230		—		—		230		244		—		—		244		217		—		—		217
Interest expense		(4,954)		—		—		(4,954)		(4,880)		—		—		(4,880)		(4,823)		—		—		(4,823)
Other income (expense), net		1,867		—		2,900		4,767		6,143		—		(2,900)		3,243		29,258		—		—		29,258
Interest and other, net		(2,857)		—		2,900		43		1,507		—		(2,900)		(1,393)		24,652		—		—		24,652
Income before income taxes		72,702		(884)		2,900		74,718		66,230		(22,113)		(2,900)		41,217		98,917		(1,524)		—		97,393
Provision for income taxes		24,681		(211)		690		25,160		19,193		(5,154)		(690)		13,349		(18,458)		(344)		—		(18,802)
Net income	$	48,021	$	(673)	$	2,210	$	49,558	$	47,037	$	(16,959)	$	(2,210)	$	27,868	$	117,375	$	(1,180)	$	—	$	116,195
Net income per share:
Basic	$	0.74	$	(0.01)	$	0.03	$	0.76	$	0.72	$	(0.26)	$	(0.03)	$	0.43	$	1.79	$	(0.01)	$	—	$	1.78
Diluted	$	0.72	$	(0.01)	$	0.03	$	0.74	$	0.70	$	(0.26)	$	(0.03)	$	0.42	$	1.74	$	(0.01)	$	—	$	1.73

	Six Months Ended								Nine Months Ended
	April 3, 2021								July 3, 2021
	Previously		Investigation		Other		As		Previously		Investigation		Other		As
	Reported		Adjustments		Adjustments		Restated		Reported		Adjustments		Adjustments		Restated
	(Unaudited) (In thousands)
Net sales	$	3,454,926	$	(20,445)	$	—	$	3,434,481	$	5,112,667	$	(24,920)	$	—	$	5,087,747
Cost of sales		3,170,593		2,552		—		3,173,145		4,691,744		(399)		—		4,691,345
Gross profit		284,333		(22,997)		—		261,336		420,923		(24,521)		—		396,402
Operating expenses:
Selling, general and administrative		120,109		—		—		120,109		177,547		—		—		177,547
Research and development		10,158		—		—		10,158		15,427		—		—		15,427
Restructuring and other		13,784		—		—		13,784		13,402		—		—		13,402
Total operating expenses		144,051		—		—		144,051		206,376		—		—		206,376
Operating income		140,282		(22,997)		—		117,285		214,547		(24,521)		—		190,026
Interest income		474		—		—		474		691		—		—		691
Interest expense		(9,834)		—		—		(9,834)		(14,657)		—		—		(14,657)
Other income (expense), net		8,010		—		—		8,010		37,268		—		—		37,268
Interest and other, net		(1,350)		—		—		(1,350)		23,302		—		—		23,302
Income before income taxes		138,932		(22,997)		—		115,935		237,849		(24,521)		—		213,328
Provision for income taxes		43,874		(5,365)		—		38,509		25,416		(5,709)		—		19,707
Net income	$	95,058	$	(17,632)	$	—	$	77,426	$	212,433	$	(18,812)	$	—	$	193,621
Net income per share:
Basic	$	1.46	$	(0.27)	$	—	$	1.19	$	3.25	$	(0.29)	$	—	$	2.96
Diluted	$	1.42	$	(0.26)	$	—	$	1.16	$	3.17	$	(0.28)	$	—	$	2.89

Consolidated Statements of Cash Flows

The following table presents the impact of the financial statement adjustments on the Company’s previously reported Consolidated Statements of Cash Flows for the periods indicated below.

	Three Months Ended								Six Months Ended								Nine Months Ended
	January 2, 2021								April 3, 2021								July 3, 2021
	Previously		Investigation		Other				Previously		Investigation		Other				Previously		Investigation		Other
	Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated		Reported		Adjustments		Adjustments		As Restated
	(Unaudited) (In thousands)
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income	$	48,021	$	(673)	$	2,210	$	49,558	$	95,058	$	(17,632)	$	—	$	77,426	$	212,433	$	(18,812)	$	—	$	193,621
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization		27,635		—		—		27,635		54,831		—		—		54,831		82,204		—		—		82,204
Stock-based compensation expense		8,208		—		—		8,208		17,432		—		—		17,432		26,147		—		—		26,147
Deferred income taxes		3,447		(279)		690		3,858		13,641		(4,854)		—		8,787		32,142		(5,196)		—		26,946
Gain on sale of intellectual property		—		—		—		—		—		—		—		—		(15,000)		—		—		(15,000)
Gain on liquidation of foreign entity		—		—		—		—		—		—		—		—		(8,263)		—		—		(8,263)
Impairment of goodwill and other asset		—		—		—		—		—		—		—		—		—		—		—		—
Other, net		(99)		—		—		(99)		(19)		—		—		(19)		(633)		—		—		(633)
Changes in operating assets and liabilities, net of amounts acquired:
Accounts receivable		(64,217)		—		(2,744)		(66,961)		(79,166)		—		(167)		(79,333)		(108,277)		—		269		(108,008)
Contract assets		46,534		(15,009)		(2,845)		28,680		61,626		2,768		328		64,722		51,487		4,921		(3,177)		53,231
Inventories		42,282		15,187		—		57,469		75,303		15,187		—		90,490		(22,606)		15,187		—		(7,419)
Prepaid expenses and other assets		(9,400)		706		—		(8,694)		1,359		706		—		2,065		(3,574)		706		—		(2,868)
Accounts payable		(66,657)		—		—		(66,657)		(99,525)		—		—		(99,525)		61,524		—		—		61,524
Accrued liabilities		26,057		68		2,689		28,814		2,360		3,825		(161)		6,024		(60,963)		3,194		2,908		(54,861)
Cash provided by operating activities	$	61,811	$	—	$	—	$	61,811	$	142,900	$	—	$	—	$	142,900	$	246,621	$	—	$	—	$	246,621