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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 27, 2021
Mar. 28, 2020
Cash flows from operating activities:    
Net income $ 24,255 $ 26,689
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 25,359 23,886
Loss on disposition of fixed assets 63 1,425
(Gain) on sale of marketable securities 0 (8)
Unrealized (gain) loss in value of equity securities (237) 1,922
Deferred income taxes 2,133 (21)
Unrealized (gain) loss in SERP (448) 2,676
Changes in operating assets and liabilities:    
Inventories (7,709) 46,385
Accounts receivable and prepaid expenses 15,763 (2,492)
Accounts payable and other liabilities (49,776) 14,919
Income taxes 5,146 9,329
Other 388 53
Net cash provided by operating activities 14,937 124,763
Cash flows from investing activities:    
Purchase of property and equipment (37,043) (24,848)
Proceeds from the sale of property and equipment 29 161
Purchase of marketable securities (10,165) (2,079)
Proceeds from the sale and maturities of marketable securities 6,125 1,800
Purchase of intangible assets (17) 41
Change in SERP investment (922) (91)
Net cash used in investing activities (41,993) (25,016)
Cash flows from financing activities:    
Dividends paid (8,339) (8,339)
Net cash used in financing activities (8,339) (8,339)
Net increase in cash and cash equivalents (35,395) 91,408
Cash and cash equivalents at beginning of year 136,612 66,871
Cash and cash equivalents at end of period $ 101,217 $ 158,279