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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Cash flows from operating activities:    
Net income $ 68,161 $ 34,780
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47,794 46,324
Loss on disposition of fixed assets 1,858 806
Unrealized (gain) loss in value of equity securities 2,013 (848)
Deferred income taxes (1,057) (482)
Unrealized (gain) loss in SERP 383 (1,360)
Changes in operating assets and liabilities:    
Inventories 1,351 14,413
Accounts receivable and prepaid expenses 4,365 10,762
Accounts payable and other liabilities (6,302) (29,423)
Income taxes 24,682 2,147
Other (4,173) 487
Net cash provided by operating activities 139,075 77,606
Cash flows from investing activities:    
Purchase of property and equipment (49,731) (44,335)
Proceeds from the sale of property and equipment 277 1,320
Purchase of marketable securities (33,194) (4,205)
Proceeds from the sale and maturities of marketable securities 2,675 2,785
Purchase of intangible assets 41 (540)
Change in SERP investment (677) (2,116)
Net cash used in investing activities (80,609) (47,091)
Cash flows from financing activities:    
Dividends paid (16,677) (16,677)
Net cash used in financing activities (16,677) (16,677)
Net increase (decrease) in cash and cash equivalents 41,789 13,838
Cash and cash equivalents at beginning of year 66,871 37,808
Cash and cash equivalents at end of period $ 108,660 $ 51,646