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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 25, 2022
Sep. 26, 2021
Cash flows from operating activities of continuing operations:    
Net income $ 284,550 $ 357,295
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss from discontinued operations 253 361
Depreciation expense 49,076 53,846
Intangible asset amortization expense 121,904 124,832
Deferred financing costs and debt discount amortization expense 3,150 3,438
Loss on extinguishment of debt 0 12,986
Fair value step up of acquired inventory sold 0 3,993
Changes in contingent consideration 237 12,728
Assets impairment charges 1,497 6,739
Stock-based compensation 19,804 17,065
Gain on sale of business (6,504) (91,157)
Deferred income taxes, net 63 (67)
Payments for contingent consideration (2,983) (170)
Interest benefit on swaps designated as net investment hedges (15,677) (13,882)
Other (3,953) (26,113)
Changes in assets and liabilities, net of effects of acquisitions and disposals:    
Accounts receivable (36,402) (13,829)
Inventories (85,293) (10,951)
Prepaid expenses and other assets 21,298 (31,223)
Accounts payable, accrued expenses and other liabilities (26,726) 84,179
Income taxes receivable and payable, net (79,879) (39,610)
Net cash provided by operating activities from continuing operations 244,415 450,460
Cash flows from investing activities of continuing operations:    
Expenditures for property, plant and equipment (52,648) (52,090)
Proceeds from sale of business and assets 12,434 225,900
Payments for businesses and intangibles acquired, net of cash acquired (27,308) (4,254)
Net interest proceeds on swaps designated as net investment hedges 10,314 9,288
Proceeds from sales of investments 7,300 7,300
Purchase of investments (7,300) (18,418)
Net cash (used in) provided by investing activities from continuing operations (57,208) 167,726
Cash flows from financing activities of continuing operations:    
Proceeds from new borrowings 0 400,000
Reduction in borrowings (144,250) (834,000)
Debt extinguishment, issuance and amendment fees 0 (9,774)
Net (payments) proceeds from share based compensation plans and related tax impacts (4,398) 11,366
Payments for contingent consideration (3,885) (31,388)
Dividends paid (47,840) (47,716)
Proceeds from sale of treasury stock 0 11,097
Net cash used in financing activities from continuing operations (200,373) (500,415)
Cash flows from discontinued operations:    
Net cash used in operating activities (482) (519)
Net cash used in discontinued operations (482) (519)
Effect of exchange rate changes on cash and cash equivalents (34,177) (11,965)
Net (decrease) increase in cash and cash equivalents (47,825) 105,287
Cash and cash equivalents at the beginning of the period 445,084 375,880
Cash and cash equivalents at the end of the period $ 397,259 $ 481,167