XML 51 R8.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jul. 18, 2015
Jul. 12, 2014
CASH FLOWS PROVIDED BY (DISBURSED FOR) OPERATING ACTIVITIES:    
Net income $ 113,149 $ 103,130
Adjustments to reconcile net income to net cash provided by operating activities:    
Impairment of assets 2,275 4,489
Stock-based compensation 10,808 10,474
Loss reclassified from accumulated other comprehensive income to net income 4,481 5,578
Depreciation and amortization 70,285 69,199
Deferred income taxes 6,346 8,913
Provision for inventory obsolescence 678 754
Allowances for accounts receivable 2,053 2,585
Pension and postretirement plans income (3,275) (5,411)
Other (1,256) (1,453)
Qualified pension plan contributions (7,500) (5,029)
Changes in operating assets and liabilities, net of acquisitions and disposals:    
Accounts and notes receivable, net (26,590) (17,047)
Inventories, net (6,589) 1,950
Hedging activities, net 463 (466)
Other assets 3,370 (11,228)
Accounts payable 30,063 (2,121)
Other accrued liabilities 17,173 8,594
NET CASH PROVIDED BY OPERATING ACTIVITIES 215,934 172,911
CASH FLOWS PROVIDED BY (DISBURSED FOR) INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (40,573) (45,008)
Proceeds from sale of property, plant and equipment 10,008 7,175
Repurchase of independent distributor territories (11,428) (12,772)
Principal payments from notes receivable 13,624 12,217
Contingently refundable consideration   7,500
Acquisition of intangible assets (5,000)  
NET CASH DISBURSED FOR INVESTING ACTIVITIES (33,369) (30,888)
CASH FLOWS PROVIDED BY (DISBURSED FOR) FINANCING ACTIVITIES:    
Dividends paid, including dividends on share-based payment awards (59,181) (49,271)
Exercise of stock options 2,795 6,888
Excess windfall tax benefit related to share-based payment awards 2,301 5,070
Payments for financing fees (486) (564)
Stock repurchases (6,858) (9,459)
Change in bank overdrafts (14,115) 1,252
Proceeds from debt borrowings 401,000 679,200
Debt and capital lease obligation payments (469,000) (775,137)
NET CASH DISBURSED FOR FINANCING ACTIVITIES (143,544) (142,021)
Net increase in cash and cash equivalents 39,021 2
Cash and cash equivalents at beginning of period 7,523 8,530
Cash and cash equivalents at end of period $ 46,544 $ 8,532