XML 31 R6.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Aug. 30, 2015
Aug. 24, 2014
Cash Flows from Operating Activities:    
Net income $ 108,196 $ 110,412
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 75,448 81,119
Asset impairments 1,912 3,858
Gain on disposal of assets (8,607) (66)
Unrealized foreign exchange losses 11,667 5,906
Realized gain on settlement of forward foreign exchange contracts not designated for hedge accounting (6,107) (3,358)
Employee benefit plans’ amortization from accumulated other comprehensive loss 12,764 11,192
Noncash restructuring charges [1] 269 3,386
Noncash loss on early extinguishment of debt 3,448 3,170
Amortization of deferred debt issuance costs 2,273 2,960
Stock-based compensation 12,827 9,305
Allowance for doubtful accounts 890 531
Change in operating assets and liabilities:    
Trade receivables 62,259 4,190
Inventories (41,789) (119,209)
Other current assets 3,110 (5,895)
Other non-current assets (11,874) (5,035)
Accounts payable and other accrued liabilities (35,209) (7,631)
Restructuring Liabilities (31,314) 39,759
Income tax liabilities 19,491 10,590
Accrued salaries, wages and employee benefits and long-term employee related benefits (56,415) (61,358)
Other long-term liabilities (13,402) (1,435)
Other, net 494 (1,102)
Net cash provided by operating activities 110,331 81,289
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (66,405) (50,461)
Proceeds from sales of assets 8,977 1,471
Proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting 6,107 3,358
Acquisitions, net of cash acquired (2,271) (318)
Net cash used for investing activities (53,592) (45,950)
Cash Flows from Financing Activities:    
Proceeds from issuance of long-term debt 500,000 0
Repayments of long-term debt and capital leases (527,315) (207,789)
Proceeds from senior revolving credit facility 295,000 165,000
Repayments of senior revolving credit facility (281,000) (75,000)
Proceeds from short-term credit facilities 20,292 18,776
Repayments of short-term credit facilities (14,137) (18,793)
Short-term borrowings, net (987) (2,932)
Debt issuance costs (4,605) (2,684)
Restricted cash 1,381 617
Repurchase of common stock (2,294) (5,188)
Excess tax benefits from stock-based compensation 805 799
Dividend to stockholders (50,000) (30,003)
Net cash used for financing activities (62,860) (157,197)
Effect of exchange rate changes on cash and cash equivalents (19,579) (40)
Net decrease in cash and cash equivalents (25,700) (121,898)
Beginning cash and cash equivalents 298,255 489,258
Ending cash and cash equivalents 272,555 367,360
Noncash Investing and Financing Items [Abstract]    
Capital Expenditures Incurred but Not yet Paid 17,779 8,124
Supplemental disclosure of cash flow information:    
Cash paid for interest during the period 44,562 61,994
Cash paid for income taxes during the period, net of refunds $ 44,827 $ 41,598
[1] Noncash pension and postretirement curtailment gains or losses resulting from the global productivity initiative are included in restructuring charges, with the associated liabilities included in "Pension liability" and "Postretirement medical benefits" in the Company's consolidated balance sheets.