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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
May 24, 2020
May 26, 2019
Cash Flows from Operating Activities:    
Net income (loss) $ (210,860) $ 174,958
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 71,005 58,745
Property, plant, equipment, and right-of-use asset impairments 61,157 556
Unrealized foreign exchange losses 3,146 14,899
Realized gains on settlement of forward foreign exchange contracts not designated for hedge accounting (15,271) (7,134)
Employee benefit plans’ amortization from accumulated other comprehensive loss and curtailment loss 10,204 6,886
Stock-based compensation 25,598 14,014
Allowance for doubtful accounts 20,935 790
Other, net 3,870 467
Benefit from deferred income taxes (100,977) (19,937)
Change in operating assets and liabilities, net of effect of acquisition:    
Trade receivables 408,053 119,916
Inventories (109,486) (32,628)
Accounts payable, accrued liabilities, and operating leases, net of right-of-use assets (34,287) (47,263)
Restructuring liabilities 65,793 0
Income tax liabilities 15,382 20,675
Accrued salaries, wages and employee benefits and long-term employee related benefits (100,567) (115,443)
Other operating assets and liabilities, net (72,331) (27,688)
Net cash provided by operating activities 41,364 161,813
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (75,210) (76,961)
Payments for business acquisition (52,201) 0
Proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting 15,114 13,125
Payments to acquire short-term investments (44,847) (84,829)
Proceeds from sale, maturity and collection of short-term investments 49,586 5,481
Net cash used for investing activities (107,558) (143,184)
Cash Flows from Financing Activities:    
Proceeds from issuance of long-term debt 502,500 0
Proceeds from senior revolving credit facility 300,000 0
Proceeds from short-term credit facilities 6,003 17,929
Repayments of short-term credit facilities (5,193) (27,866)
Other short-term borrowings, net 0 (9,422)
Payment of debt issuance costs (6,459) 0
Proceeds from issuance of Class A common stock 0 254,329
Payments for underwriter commission and other offering costs 0 19,746
Proceeds from employee stock purchase plan 4,283 0
Repurchase of common stock (56,243) (3,088)
Repurchase of shares surrendered for tax withholdings on equity awards (75,568) (25,522)
Payments to noncontrolling interests (16,090) 0
Dividend to stockholders (63,639) (55,000)
Other financing, net (3) (565)
Net cash provided by financing activities 589,591 131,049
Effect of exchange rate changes on cash and cash equivalents and restricted cash (9,113) (1,913)
Net increase in cash and cash equivalents and restricted cash 514,284 147,765
Beginning cash and cash equivalents, and restricted cash 934,753 713,698
Ending cash and cash equivalents, and restricted cash 1,449,037 861,463
Less: Ending restricted cash (802) (530)
Ending cash and cash equivalents 1,448,235 860,933
Noncash Investing and Financing Activity:    
Property, plant and equipment acquired and not yet paid at end of period 21,462 14,775
Property, plant and equipment additions due to build-to-suit lease transactions 0 10,861
Realized (gain) loss on foreign currency contracts not yet settled at end of period 0 5,990
Supplemental disclosure of cash flow information:    
Cash paid for interest during the period 36,856 26,849
Cash paid for income taxes during the period, net of refunds $ 53,594 $ 52,800