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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jul. 03, 2022
Jul. 04, 2021
Operating activities    
Net income $ 150,304 $ 144,062
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 64,856 63,152
Operating lease asset amortization 57,360 52,631
Store closure and other costs, net 171 0
Share-based compensation 7,920 7,851
Deferred income taxes 1,770 2,920
Other non-cash items 324 740
Changes in operating assets and liabilities:    
Accounts receivable 11,389 14,685
Inventories (27,475) (19,873)
Prepaid expenses and other current assets (12,851) (13,679)
Other assets 164 (4,363)
Accounts payable 32,877 23,653
Accrued liabilities (318) (8,416)
Accrued salaries and benefits (10,521) (28,587)
Operating lease liabilities (65,502) (58,131)
Other long-term liabilities (1,505) 660
Cash flows from operating activities 208,963 177,305
Investing activities    
Purchases of property and equipment (53,098) (39,421)
Cash flows used in investing activities (53,098) (39,421)
Financing activities    
Payments on finance lease liabilities (385) (333)
Payments of deferred financing costs (3,373) 0
Repurchase of common stock (111,071) (87,484)
Proceeds from exercise of stock options 2,710 1,246
Cash flows used in financing activities (112,119) (86,571)
Increase in cash, cash equivalents, and restricted cash 43,746 51,313
Cash, cash equivalents, and restricted cash at beginning of the period 247,004 171,441
Cash, cash equivalents, and restricted cash at the end of the period 290,750 222,754
Supplemental disclosure of cash flow information    
Cash paid for interest 5,717 6,128
Cash paid for income taxes 46,257 49,071
Leased assets obtained in exchange for new operating lease liabilities 68,668 60,074
Supplemental disclosure of non-cash investing and financing activities    
Property and equipment in accounts payable and accrued liabilities $ 10,934 $ 11,771