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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash flows from operating activities:    
Net income $ 38,805 $ 53,516
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 206,668 110,659
Share-based compensation expense 14,133 9,924
Net gain on asset and business disposals (22,773) (3,655)
Non-cash loss on debt financings 5,453 161
Change in deferred tax asset, net 2,976 9,350
Other 1,163 (21)
Decrease (increase) in operating assets, net of acquisitions and dispositions:    
Accounts receivable, net (104,579) (101,119)
Inventories (11,552) (27,115)
Costs and estimated earnings in excess of billings (24,076) (28,760)
Other current assets 2,509 (1,070)
Other assets 3,922 1,732
(Decrease) increase in operating liabilities, net of acquisitions and dispositions:    
Accounts payable 7,700 52,157
Accrued expenses (4,584) 19,048
Billings in excess of costs and estimated earnings (144) 1,299
Tax receivable agreement (benefit) expense 6,227 (531)
Other liabilities (10,444) (1,533)
Net cash provided by operating activities 111,404 94,042
Cash flows from investing activities:    
Acquisitions, net of cash acquired (1,113,267) (237,666)
Purchase of intellectual property (21,400) 0
Purchases of property, plant and equipment (175,960) (126,893)
Proceeds from the sale of property, plant and equipment 14,217 5,760
Proceeds from sale of businesses 86,031 0
Other (2,070) (1,852)
Net cash used in investing activities (1,212,449) (360,651)
Cash flows from financing activities:    
Proceeds from debt issuances 1,007,475 0
Debt issuance costs (17,731) (1,566)
Payments on debt (509,765) (6,720)
Payments on acquisition-related liabilities (6,289) (11,539)
Proceeds from stock option exercises 1,580 84
Other (8,088) (4,838)
Net cash provided by (used in) financing activities 467,182 (24,579)
Impact of foreign currency on cash (1,591) 747
Net decrease in cash and cash equivalents and restricted cash (635,454) (290,441)
Cash and cash equivalents and restricted cash—beginning of period 1,174,162 520,451
Cash and cash equivalents and restricted cash—end of period $ 538,708 $ 230,010