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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Operating activities:    
Net income $ 208,345 $ 197,422
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 62,064 54,623
Amortization 41,176 50,400
Share-based compensation expense 16,552 14,915
Provision for deferred income taxes 14,958 (2,123)
Charge for excess and obsolete inventory 11,933 4,646
Other 6,214 9,605
Changes in operating assets and liabilities:    
Trade accounts and notes receivable (65,367) (30,405)
Inventories (54,278) (5,689)
Accounts payable and accrued liabilities 10,076 (31,911)
Other current assets 2,189 11,284
Income taxes payable and refundable income taxes (11,995) (20,574)
Other 789 1,461
Net cash provided by operating activities 242,656 253,654
Investing activities:    
Acquisition of property, plant and equipment (79,560) (86,423)
Payments to Acquire Businesses, Net of Cash Acquired 111,145 266,373
Other 265 2,815
Net cash used in investing activities (190,440) (349,981)
Financing activities:    
Proceeds from short-term borrowings 217,000 0
Payments of short-term borrowings (217,000) 0
Proceeds from long-term debt 400,000 0
Payments of long-term debt (251,000) (2,000)
Payments for debt issuance costs (3,964) 0
Payments of Dividends 32,446 29,779
Issuance of common stock 4,899 4,351
Repurchase and retirement of common stock (29,564) (65,321)
Taxes paid related to net share settlement of equity awards (24,556) (8,577)
Deferred acquisition payments 16,125 0
Other (2,892) (502)
Net cash provided by (used in) financing activities 44,352 (101,828)
Effect of exchange rate changes on cash and cash equivalents (507) (1,159)
Increase (decrease) in cash and cash equivalents 96,061 (199,314)
Cash and cash equivalents at beginning of period 351,911 482,062
Cash and cash equivalents at end of period 447,972 282,748
Supplemental Cash Flow Information    
Deferred acquisition payments 2,785 32,462
Contingent consideration obligation 0 686
Equipment purchases in accounts payable 7,543 3,431
Changes in dividends payable 74 307
Schedule of interest and taxes paid    
Interest paid 33,164 37,366
Income taxes paid, net of refunds received $ 35,544 $ 66,474