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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jul. 02, 2023
Jun. 30, 2024
Jul. 02, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income $ 47,884 $ 42,357 $ 82,977 $ 72,530  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     81,816 71,492  
Stock-based compensation expense     9,742 7,946  
Other     1,419 2,978  
Change in operating assets and liabilities, net of acquisitions of businesses:          
Trade and other receivables, net     (65,089) (33,057)  
Inventories     28,276 117,440  
Prepaid expenses and other assets     (1,862) 7,112  
Accounts payable, accrued liabilities and other     35,379 (68,090)  
Net cash provided by operating activities     172,658 178,351  
CASH FLOWS FROM INVESTING ACTIVITIES          
Purchases of property, plant and equipment     (32,411) (36,491)  
Proceeds from sale of property, plant and equipment     2,114 728  
Business acquisitions, net of cash acquired     (330,727) (26,837)  
Other investing activities     (25,789) (2,947)  
Net cash used in investing activities     (386,813) (65,547)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Term debt repayments     (3,750) (3,750)  
Borrowings on revolver     875,055 364,814  
Repayments on revolver     (580,055) (250,104)  
Repayments of convertible notes     0 (172,500)  
Stock repurchases under buyback program     0 (11,776)  
Cash dividends paid to shareholders     (25,047) (20,507)  
Taxes paid for share-based payment arrangements     (14,883) (7,585)  
Payment of contingent consideration from a business acquisition     (4,560) (1,400)  
Proceeds from exercise of common stock options     21 1,143  
Other financing activities     (75) (75)  
Net cash provided by (used in) financing activities     246,706 (101,740)  
Net increase in cash and cash equivalents     32,551 11,064  
Cash and cash equivalents at beginning of year     11,409 22,847 $ 22,847
Cash and cash equivalents at end of period $ 43,960 $ 33,911 $ 43,960 $ 33,911 $ 11,409

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