v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Jan. 31, 2022
Oct. 01, 2023
Sep. 25, 2022
Oct. 01, 2023
Sep. 25, 2022
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES            
Net income   $ 39,550 $ 58,819 $ 112,080 $ 288,016  
Adjustments to reconcile net income to net cash provided by operating activities:            
Depreciation and amortization       107,976 96,256  
Stock-based compensation expense       13,675 15,596  
Amortization of convertible notes debt discount       823 1,399  
(Gain) loss on sale of property, plant and equipment $ (5,500)     242 (5,713)  
Other non-cash items       2,959 5,049  
Change in operating assets and liabilities, net of acquisitions of businesses:            
Trade and other receivables, net       (68,114) (92,199)  
Inventories       154,634 (85,091)  
Prepaid expenses and other assets       9,098 31,058  
Accounts payable, accrued liabilities and other       (39,543) (24,563)  
Net cash provided by operating activities       293,830 229,808  
CASH FLOWS FROM INVESTING ACTIVITIES            
Purchases of property, plant and equipment       (47,430) (63,437)  
Proceeds from sale of property, plant and equipment       946 7,441  
Business acquisitions, net of cash acquired       (26,009) (152,888)  
Purchases of intangible assets       (2,970) 0  
Net cash used in investing activities       (75,463) (208,884)  
CASH FLOWS FROM FINANCING ACTIVITIES            
Term debt repayments       (5,625) (3,750)  
Borrowings on revolver       482,194 703,402  
Repayments on revolver       (477,482) (703,402)  
Repayments of convertible notes       (172,500) 0  
Stock repurchases under buyback program       (12,230) (46,984)  
Cash dividends paid to shareholders       (30,260) (23,007)  
Taxes paid for share-based payment arrangements       (8,762) (10,036)  
Payment of deferred financing costs and other       0 (2,142)  
Payment of contingent consideration from a business acquisition       (1,430) (4,780)  
Proceeds from exercise of common stock options       1,413 195  
Other financing activities       (82) 0  
Net cash used in financing activities       (224,764) (90,504)  
Decrease in cash and cash equivalents       (6,397) (69,580)  
Cash and cash equivalents at beginning of year $ 122,849     22,847 122,849 $ 122,849
Cash and cash equivalents at end of period   $ 16,450 $ 53,269 $ 16,450 $ 53,269 $ 22,847

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