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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Cash flows from operating activities:    
Net income $ 105,388 $ 90,705
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 26,607 25,359
Amortization 19,802 19,725
Provision for credit losses 2,213 7,395
Stock-based compensation expense 9,054 7,638
Amortization of deferred financing costs 986 921
Asset impairment charges   2,131
Non-cash portion of restructuring costs and charges, net 1,679  
Loss (gain) on sales of assets 84 (166)
Change in operating assets and liabilities:    
Accounts receivable 1,005 (35,166)
Inventories (5,635) (21,145)
Contract assets, net, prepaid expenses, other current and other assets 6,970 6,213
Accounts payable, accrued and other liabilities (28,322) 48,531
Net cash provided by operating activities 139,831 152,141
Cash flows from investing activities:    
Purchases of property, plant and equipment (38,205) (24,741)
Business combinations (744) (787)
Proceeds from sales of assets 1,171 41
Net cash used in investing activities (37,778) (25,487)
Cash flows from financing activities:    
Payment of fair value of contingent consideration in Anlin Acquisition (4,348) (2,362)
Redemption of redeemable non-controlling interest (37,459)  
Proceeds of amounts drawn from revolving credit facility 50,000  
Payments of borrowing under revolving credit facility (61,352)  
Purchases of treasury stock under share repurchase program (75,131)  
Income taxes paid from stock withheld relating to vesting of equity awards (3,362) (1,888)
Proceeds from issuance of common stock under employee stock purchase plan (ESPP) 726 291
Net cash used in financing activities (130,926) (3,959)
Net (decrease) increase in cash and cash equivalents (28,873) 122,695
Cash and cash equivalents at beginning of period 66,548 96,146
Cash and cash equivalents at end of period 37,675 218,841
Non-cash activity:    
Accrual of excise tax liability in treasury stock (669)  
Additions to right-of-use asset 15,912 13,625
Additions to operating lease liability (15,912) (13,625)
Property, plant and equipment additions in accounts payable $ 590 $ 79