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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 28, 2020
Mar. 30, 2019
Cash flows from operating activities:    
Net income $ 28,092 $ 16,791
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,534 13,863
Amortization of operating lease right-of-use assets 2,981 2,638
Amortization of deferred debt financing costs and bond discount/premium 898 873
Deferred income taxes 14,397 3,575
Write-off of property, plant, and equipment 2 1
Share-based compensation expense 423 580
Changes in assets and liabilities, net of effects of businesses acquired:    
Trade accounts receivable (57,759) (10,807)
Inventories 66,812 27,320
Prepaid expenses and other current assets (1,953) (1,085)
Income tax receivable/payable (8,523) 1,553
Other assets (131) 70
Trade accounts payable (8,405) (14,444)
Accrued expenses 3,484 11,119
Other liabilities 1,726 (1,703)
Net cash provided by operating activities 57,578 50,344
Cash flows from investing activities:    
Capital expenditures (6,141) (8,648)
Payments for acquisition of businesses, net of cash acquired (3,419)  
Net cash used in investing activities (9,560) (8,648)
Cash flows from financing activities:    
Repayments of long-term debt (1,125)  
Repayments of borrowings under revolving credit facility (60,000) (40,000)
Borrowings under revolving credit facility 160,000 40,000
Dividends paid (30,421) (31,178)
Payments for repurchase of common stock, net   (10,000)
Payments of tax withholding on behalf of employees for net share settlement of share-based compensation   (905)
Net cash provided by (used in) financing activities 68,454 (42,083)
Effect of exchange rate fluctuations on cash and cash equivalents (719) 23
Net increase (decrease) in cash and cash equivalents 115,753 (364)
Cash and cash equivalents at beginning of period 11,315 11,648
Cash and cash equivalents at end of period 127,068 11,284
Supplemental disclosures of cash flow information:    
Cash interest payments 19,760 2,590
Cash income tax payments 659 564
Non-cash investing and financing transactions:    
Dividends declared and not yet paid 30,457 31,016
Accruals related to purchases of property, plant and equipment 374 139
Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,132 $ 155