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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 28, 2022
May 29, 2021
May 30, 2020
Cash flows from operating activities:      
Net income $ 132,441 $ 2,060 $ 18,328
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 68,395 59,477 58,103
Deferred income taxes 5,676 22,351 10,281
Equity in income of affiliates (1,943) (622) (534)
(Gain) Loss on disposal of property, plant and equipment (5,109) 2,982 82
Impairment loss on fixed assets 0 196 2,919
Stock compensation expense, net of amounts paid 4,063 3,778 3,617
Unrealized losses on investments (745) 1,810 744
Gains on sales of investments (2,208) (22) (611)
Purchases of equity securities 3,469 (334) (275)
Sales of equity securities 4,939 55 1,212
Amortization of investments 977 890 316
Gain on change in fair value of investment in affiliates (4,545) 0 0
Other (109) (427) (248)
Change in operating assets and liabilities, net of effects from acquisitions:      
Increase in receivables and other assets (97,722) (33,487) (28,300)
Increase in inventories (36,152) (31,159) (9,704)
Increase (decrease) in accounts payable, accrued expenses and other liabilities 54,782 (1,412) 17,679
Net cash provided by operations 126,209 26,136 73,609
Cash flows from investing activities:      
Purchases of investments (98,243) (88,283) (107,234)
Sales of investments 92,703 129,108 204,277
Acquisition of business, net of cash acquired (44,823) 0 (44,650)
Investment in unconsolidated entities (3,000) 0 0
Distributions from unconsolidated entities 400 6,663 7,114
Purchases of property, plant and equipment (72,399) (95,069) (124,178)
Net proceeds from disposal of property, plant and equipment 8,341 3,390 3,306
Net cash used in investing activities (117,021) (44,191) (61,365)
Cash flows from financing activities:      
Principal payments on long-term debt 0 0 (1,500)
Principal payments on finance lease (215) (205) (196)
Distributions to noncontrolling interest partners 0 0 (755)
Purchase of common stock by treasury (1,127) (871) (910)
Payments of dividends (6,117) (1,652) 0
Contributions 3 5 0
Net cash used in financing activities (7,456) (2,723) (3,361)
Increase (decrease) in cash and cash equivalents 1,732 (20,778) 8,883
Cash and cash equivalents at beginning of year 57,352 78,130 69,247
Cash and cash equivalents at end of year 59,084 57,352 78,130
Supplemental information:      
Cash paid for operating leases 805 929 871
Income taxes paid 2,214 995 32
Interest paid $ 379 $ 508 $ 498