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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 25, 2022
Sep. 26, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 288,016 $ 163,895
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 96,256 76,298
Stock-based compensation expense 15,596 17,307
Amortization of convertible notes debt discount 1,399 5,528
Deferred income taxes 6 6,540
(Gain) loss on sale of property, plant and equipment (5,713) 27
Other non-cash items 5,043 1,617
Change in operating assets and liabilities, net of acquisitions of businesses:    
Trade and other receivables, net (92,199) (142,550)
Inventories (85,091) (127,464)
Prepaid expenses and other assets 31,058 (593)
Accounts payable, accrued liabilities and other (24,563) 146,812
Net cash provided by operating activities 229,808 147,417
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (63,437) (44,155)
Proceeds from sale of property, plant and equipment 7,441 140
Business acquisitions, net of cash acquired (152,888) (297,701)
Other 0 (2,000)
Net cash used in investing activities (208,884) (343,716)
CASH FLOWS FROM FINANCING ACTIVITIES    
Term debt borrowings 0 58,750
Term debt repayments (3,750) (3,125)
Borrowings on revolver 703,402 425,930
Repayments on revolver (703,402) (565,475)
Proceeds from senior notes offering 0 350,000
Stock repurchases under buyback program (46,984) (31,945)
Cash dividends paid to shareholders (23,007) (19,487)
Taxes paid for share-based payment arrangements (10,036) (14,898)
Payment of deferred financing costs and other (2,142) (6,638)
Payment of contingent consideration from a business acquisition (4,780) (1,600)
Proceeds from exercise of common stock options 195 4,902
Net cash (used in) provided by financing activities (90,504) 196,414
(Decrease) increase in cash and cash equivalents (69,580) 115
Cash and cash equivalents at beginning of year 122,849 44,767
Cash and cash equivalents at end of period $ 53,269 $ 44,882

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