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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 27, 2022
Mar. 28, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 112,673 $ 47,513
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 30,201 22,521
Stock-based compensation expense 5,111 4,298
Amortization of convertible notes debt discount 449 1,769
(Gain) loss on sale of property, plant and equipment (5,501) 45
Other non-cash items 1,697 1,550
Change in operating assets and liabilities, net of acquisitions of businesses:    
Trade and other receivables, net (160,883) (76,350)
Inventories (51,769) (24,398)
Prepaid expenses and other assets 7,198 9,587
Accounts payable, accrued liabilities and other 37,785 63,757
Net cash (used in) provided by operating activities (23,039) 50,292
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (18,668) (14,239)
Proceeds from sale of property, plant and equipment 7,146 58
Business acquisitions, net of cash acquired (131,597) (28,864)
Other 0 (2,000)
Net cash used in investing activities (143,119) (45,045)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings on revolver 303,712 117,475
Repayments on revolver (149,712) (144,475)
Stock repurchases under buyback program (24,778) 0
Cash dividends paid to shareholders (8,288) (6,573)
Taxes paid for share-based payment arrangements (9,999) (14,464)
Payment of contingent consideration from a business acquisition (3,780) 0
Proceeds from exercise of common stock options 0 4,194
Net cash provided by (used in) financing activities 107,155 (43,843)
Decrease in cash and cash equivalents (59,003) (38,596)
Cash and cash equivalents at beginning of year 122,849 44,767
Cash and cash equivalents at end of period $ 63,846 $ 6,171

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