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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 28, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 28,431 $ 39,144
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,045 23,668
Provision for inventory excess and obsolescence 5,741 3,678
Share-based compensation 12,308 12,341
Deferred income taxes (7,711) (7,665)
Inventory acquisition fair value adjustments 2,777  
Other 864 994
Changes in assets and liabilities which (used)/provided cash, excluding effects from business acquisitions:    
Accounts receivable 1,223 (6,564)
Inventories (6,586) 1,177
Prepaid income taxes, income taxes receivable, prepaid expenses and other current assets 1,056 (163)
Accounts payable, income taxes payable, accrued expenses and other current liabilities 8,934 (29,283)
Other non-current assets and liabilities (158) (885)
Net cash provided by operating activities 73,924 36,442
Cash flows from investing activities:    
Cash paid for business acquisitions, net of working capital adjustments (191,200)  
Purchases of property, plant and equipment (11,352) (6,946)
Net cash used in investing activities (202,552) (6,946)
Cash flows from financing activities:    
Borrowings under revolving credit facilities 198,000  
Repayments under term loan and revolving credit facilities (67,344) (30,498)
Payments of withholding taxes from share-based awards (8,861) (10,008)
Other financing activities (355) (313)
Net cash provided by (used in) financing activities 121,440 (40,819)
Effect of exchange rates on cash and cash equivalents 605 2,548
Decrease in cash and cash equivalents (6,583) (8,775)
Cash and cash equivalents, beginning of the period 105,051 100,105
Cash and cash equivalents, end of the period 98,468 91,330
Supplemental disclosure of cash flow information:    
Cash paid for interest 16,491 12,709
Cash paid for income taxes 8,035 21,316
Income tax refunds received $ 739 $ 255