XML 17 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 01, 2017
Apr. 02, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 26,816 $ 13,311
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 107,758 102,808
Gain on disposal of property and equipment (310) (1,306)
Amortization and write-off of deferred financing costs 1,282 2,433
Insurance proceeds relating to operating activities   2,479
Insurance benefit in net income   (7,083)
Amortization of Senior Notes original issue premium   (832)
Deferred tax provision (benefit) 12,280 (80)
Share-based compensation expense 3,342 4,786
Provision for doubtful accounts 4,745 3,781
Changes in operating assets and liabilities, net of business acquisitions:    
Increase in receivables (192,731) (84,681)
Decrease (increase) in inventories 35,714 (49,987)
Increase in prepaid expenses and other assets (25,652) (4,945)
Increase in accounts payable and bank checks outstanding 236,980 257,938
Decrease in accrued expenses and other liabilities (88,665) (101,157)
Net cash provided by operating activities 121,559 137,465
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of businesses—net of cash (62,501) (38,318)
Proceeds from sales of property and equipment 724 1,923
Purchases of property and equipment (70,125) (36,884)
Investment in Avero, LLC   (7,658)
Net cash used in investing activities (131,902) (80,937)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from debt borrowings 578,459 538,000
Principal payments on debt and capital leases (548,041) (303,081)
Cash distribution to shareholders   (666,332)
Contingent consideration paid for business acquisition (5,000)  
Payment for debt financing costs and fees (426)  
Proceeds from employee share purchase plan 3,328  
Proceeds from exercise of stock options 7,018  
Tax withholding payments for net share settled equity awards (3,966)  
Proceeds from common stock sales   2,850
Common stock and share-based awards settled (302) (3,659)
Net cash provided by (used in) financing activities 31,070 (432,222)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 20,727 (375,694)
CASH AND CASH EQUIVALENTS—Beginning of period 131,090 517,802
CASH AND CASH EQUIVALENTS—End of period 151,817 142,108
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest (net of amounts capitalized) 29,590 39,839
Income taxes (refunded) paid—net (39) 40
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases included in accounts payable 15,915 11,379
Capital lease additions 40,840 48,299
Cashless exercise of equity awards $ 7,149  
Contingent consideration payable for business acquisitions   $ 5,000