XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Oct. 03, 2020
Oct. 05, 2019
CASH FLOWS PROVIDED BY (DISBURSED FOR) OPERATING ACTIVITIES:    
Net income $ 96,494 $ 162,319
Adjustments to reconcile net income to net cash provided by operating activities:    
Restructuring and related impairment charges 21,310 5,663
Stock-based compensation 9,669 5,834
Loss (gain) reclassified from accumulated other comprehensive income to net income 2,224 (3,942)
Depreciation and amortization 110,005 111,344
Deferred income taxes (34,083) 8,570
Provision for inventory obsolescence 1,940 54
Allowances for accounts receivable 11,050 8,819
Pension and postretirement plans cost 109,929 2,487
Other 2,091 1,189
Qualified pension plan contributions (7,600) (2,500)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net (37,498) (19,519)
Inventories, net (3,224) (7,824)
Hedging activities, net 6,105 (6,683)
Accounts payable 24,511 4,808
Other assets and accrued liabilities 51,513 7,481
NET CASH PROVIDED BY OPERATING ACTIVITIES 364,436 278,100
CASH FLOWS PROVIDED BY (DISBURSED FOR) INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (68,270) (70,610)
Proceeds from sale of property, plant and equipment 1,700 2,548
Repurchase of independent distributor territories (2,286) (1,753)
Cash paid at issuance of notes receivable (8,036) (17,904)
Principal payments from notes receivable 24,219 22,525
Other investing activities 86 88
NET CASH DISBURSED FOR INVESTING ACTIVITIES (52,587) (65,106)
CASH FLOWS PROVIDED BY (DISBURSED FOR) FINANCING ACTIVITIES:    
Dividends paid, including dividends on share-based payment awards (124,948) (119,799)
Stock repurchases (783) (7,054)
Change in bank overdrafts (2,432) 3,116
Proceeds from debt borrowings 480,100 485,400
Debt obligation payments (337,600) (587,900)
Contingent consideration payments (4,700)  
Payments on financing leases (6,493) (4,985)
Payments for financing fees (206) (110)
NET CASH PROVIDED BY (DISBURSED FOR) FINANCING ACTIVITIES 2,938 (231,332)
Net increase (decrease) in cash and cash equivalents 314,787 (18,338)
Cash and cash equivalents at beginning of period 11,044 25,306
Cash and cash equivalents at end of period $ 325,831 $ 6,968