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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2023
Jun. 25, 2022
Cash flows from operating activities:    
Net income $ 60,079 $ 67,655
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 54,104 51,510
(Gain) loss on disposition of fixed assets (4) (2,465)
Unrealized (gain) loss in value of equity securities 378 145
Deferred income taxes 2,421 1,713
Unrealized (gain) loss in SERP (2,061) 4,820
Changes in operating assets and liabilities:    
Inventories (1,752) (33,830)
Accounts receivable and prepaid expenses (7,218) 4,213
Accounts payable and other liabilities (36,676) (18,794)
Income taxes 9,346 9,140
Other 1,813 286
Net cash provided by operating activities 80,430 84,393
Cash flows from investing activities:    
Purchase of property and equipment (49,946) (53,443)
Proceeds from the sale of property and equipment 57 5,413
Purchase of marketable securities (57,700) (170,511)
Proceeds from the sale and maturities of marketable securities 27,057 136,465
Purchase of intangible assets (29) (48)
Proceeds from sale of intangible assets   125
Change in SERP investment (237) (549)
Net cash used in investing activities (80,798) (82,548)
Cash flows from financing activities:    
Dividends paid (18,291) (17,215)
Net cash used in financing activities (18,291) (17,215)
Net increase (decrease) in cash and cash equivalents (18,659) (15,370)
Cash and cash equivalents at beginning of year 157,997 86,048
Cash and cash equivalents at end of period $ 139,338 $ 70,678