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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 28, 2019
Sep. 29, 2018
Cash flows from operating activities:    
Net income $ 49,098 $ 49,492
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69,857 69,589
(Gain) Loss on disposition of fixed assets 1,137 (76)
(Gain) Loss on sale of marketable securities (55) 54
Unrealized (gain) loss in value of equity securities (1,637) 883
Deferred income taxes 1,483 3,752
Changes in operating assets and liabilities:    
Inventories 17,519 (1,388)
Accounts receivable and prepaid expenses 7,205 (2,118)
Accounts payable and other liabilities (9,153) (17,172)
Income taxes 3,610 8,637
Other 972 409
Net cash provided by operating activities 140,036 112,062
Cash flows from investing activities:    
Purchase of property and equipment (70,084) (64,504)
Proceeds from the sale of property and equipment 1,489 1,113
Purchase of marketable securities (9,220) (3,256)
Proceeds from maturities of marketable securities 4,575 4,915
Proceeds from the sale of marketable securities 750 4,333
Purchase of intangible assets (558) (3,540)
Change in SERP investment (3,199) (1,531)
Net cash used in investing activities (76,247) (62,470)
Cash flows from financing activities:    
Payments on long-term debt 0 (34,988)
Dividends paid (25,016) (24,209)
Net cash used in financing activities (25,016) (59,197)
Net increase (decrease) in cash and cash equivalents 38,773 (9,605)
Cash and cash equivalents at beginning of year 37,808 47,917
Cash and cash equivalents at end of period $ 76,581 $ 38,312