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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Operating activities:    
Net income $ 129,042 $ 156,655
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 41,287 35,317
Amortization 29,427 35,248
Share-based compensation expense 10,649 9,589
Provision for deferred income taxes (859) (2,157)
Charge for excess and obsolete inventory 8,393 3,315
Other 5,361 4,982
Changes in operating assets and liabilities:    
Trade accounts and notes receivable (42,087) 5,436
Inventories (55,362) 3,709
Accounts payable and accrued liabilities 5,643 (52,707)
Other current assets 4,871 13,028
Income taxes payable and refundable income taxes 4,412 15,391
Other 647 557
Net cash provided by operating activities 141,424 228,363
Investing activities:    
Acquisition of property, plant and equipment (46,873) (60,101)
Payments to Acquire Businesses, Net of Cash Acquired 75,645 49,267
Other 211 197
Net cash used in investing activities (122,307) (109,171)
Financing activities:    
Proceeds from short-term borrowings and long-term debt 617,000 0
Payments of long-term debt (368,000) (2,000)
Payments for debt issuance costs (3,964) 0
Payments of Dividends 21,652 18,964
Issuance of common stock 1,749 917
Repurchase and retirement of common stock (29,564) (50,321)
Taxes paid related to net share settlement of equity awards (12,720) (8,301)
Deferred acquisition payments 16,125 0
Other (2,891) (497)
Net cash provided by (used in) financing activities 163,833 (79,166)
Effect of exchange rate changes on cash and cash equivalents (2,194) (706)
Increase in cash and cash equivalents 180,756 39,320
Cash and cash equivalents at beginning of period 351,911 482,062
Cash and cash equivalents at end of period 532,667 521,382
Supplemental Cash Flow Information    
Deferred acquisition payments 2,033 14,001
Contingent consideration obligation 0 686
Equipment purchases in accounts payable 4,860 5,974
Dividends Payable 86 96
Schedule of interest and taxes paid    
Interest paid 19,365 21,637
Income taxes paid, net of refunds received $ 19,315 $ 31,653