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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 29, 2020
Mar. 31, 2019
Cash flows from operating activities of continuing operations:    
Net income $ 131,150 $ 40,897
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Loss from discontinued operations 2 1,021
Depreciation expense 16,842 15,645
Intangible asset amortization expense 38,911 37,751
Deferred financing costs and debt discount amortization expense 945 1,179
Gain on sale of assets 0 (2,739)
Fair value step up of acquired inventory sold 1,707 0
Changes in contingent consideration (46,502) 13,057
Impairment of long-lived assets 0 3,030
Stock-based compensation 3,522 5,781
Deferred income taxes, net 679 2,603
Payments for contingent consideration (79,771) (25,935)
Interest benefit on swaps designated as net investment hedges (4,874) (3,882)
Other (18,143) 4,536
Changes in assets and liabilities, net of effects of acquisitions and disposals:    
Accounts receivable (23,145) (14,102)
Inventories (12,346) (19,200)
Prepaid expenses and other assets 6,403 (11,524)
Accounts payable, accrued expenses and other liabilities (31,488) 8,856
Income taxes receivable and payable, net 4,651 3,192
Net cash (used in) provided by operating activities from continuing operations (11,457) 60,166
Cash flows from investing activities of continuing operations:    
Expenditures for property, plant and equipment (19,684) (23,494)
Proceeds from sale of assets 400 991
Payments for businesses and intangibles acquired, net of cash acquired (265,160) (1,025)
Net cash used in investing activities from continuing operations (284,444) (23,528)
Cash flows from financing activities of continuing operations:    
Proceeds from new borrowings 485,000 0
Net proceeds from share based compensation plans and the related tax impacts (3,022) 2,242
Payments for contingent consideration (60,881) (110,953)
Dividends paid (15,767) (15,650)
Net cash provided by (used in) financing activities from continuing operations 405,330 (124,361)
Cash flows from discontinued operations:    
Net cash (used in) provided by operating activities (193) 3,610
Net cash (used in) provided by discontinued operations (193) 3,610
Effect of exchange rate changes on cash and cash equivalents (3,842) (1,836)
Net increase (decrease) in cash and cash equivalents 105,394 (85,949)
Cash and cash equivalents at the beginning of the period 301,083 357,161
Cash and cash equivalents at the end of the period $ 406,477 $ 271,212