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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 26, 2021
Sep. 27, 2020
Sep. 26, 2021
Sep. 27, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income $ 57,397 $ 37,336 $ 163,895 $ 59,237  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     76,298 52,955  
Stock-based compensation expense     17,307 11,177  
Amortization of convertible notes debt discount     5,528 5,302  
Deferred income taxes     6,540 (4,057)  
Other non-cash items     1,644 3,521  
Change in operating assets and liabilities, net of acquisitions of businesses:          
Trade and other receivables, net     (142,550) (78,701)  
Inventories     (127,464) (12,885)  
Prepaid expenses and other assets     (593) 23,787  
Accounts payable, accrued liabilities and other     146,812 52,422  
Net cash provided by operating activities     147,417 112,758  
CASH FLOWS FROM INVESTING ACTIVITIES          
Capital expenditures     (44,155) (22,159)  
Proceeds from sale of property, plant and equipment     140 117  
Business acquisitions, net of cash acquired     (297,701) (123,382)  
Other     (2,000) 0  
Net cash used in investing activities     (343,716) (145,424)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Term debt borrowings     58,750 0  
Term debt repayments     (3,125) (2,500)  
Borrowings on revolver     425,930 8,198  
Repayments on revolver     (565,475) (8,198)  
Proceeds from senior notes offering     350,000 0  
Stock repurchases under buyback program     (31,945) (20,286)  
Cash dividends paid to shareholders     (19,487) (17,265)  
Taxes paid for share-based payment arrangements     (14,898) (2,910)  
Payment of deferred financing costs and other     (6,638) (58)  
Payment of contingent consideration from a business acquisition     (1,600) (2,000)  
Proceeds from exercise of common stock options     4,902 642  
Net cash provided by (used in) financing activities     196,414 (44,377)  
Increase (decrease) in cash and cash equivalents     115 (77,043)  
Cash and cash equivalents at beginning of year     44,767 139,390 $ 139,390
Cash and cash equivalents at end of period $ 44,882 $ 62,347 $ 44,882 $ 62,347 $ 44,767

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