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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jan. 02, 2021
Dec. 28, 2019
Dec. 29, 2018
Cash Flows from Operating Activities:      
Net income $ 155,801 $ 50,434 $ 57,763
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 30,535 28,959 24,777
Amortization of deferred financing fees 935 2,189 3,425
Stock-based compensation 9,009 52,332 13,247
Deferred income taxes (3,827) 15,615 2,226
Impairment of long-lived assets 1,051 616 2,209
Loss on prepayment, modification, or extinguishment of debt 1,064 643 694
Other (74) 0 0
Changes in operating assets and liabilities:      
Accounts receivable, net 16,353 (19,940) 7,675
Inventory 46,052 (40,541) 29,583
Other current assets 1,982 (6,798) (5,089)
Accounts payable and accrued expenses 89,125 6,614 43,740
Taxes payable 14,943 (3,101) (5,876)
Other 3,478 (129) 1,694
Net cash provided by operating activities 366,427 86,893 176,068
Cash Flows from Investing Activities:      
Purchases of property and equipment (15,566) (32,077) (20,860)
Additions of intangibles, net (7,378) (16,614) (11,027)
Proceeds from sale of long-lived assets 0 0 165
Net cash used in investing activities (22,944) (48,691) (31,722)
Cash Flows from Financing Activities:      
Borrowings under revolving line of credit 50,000 0 0
Repayments under revolving credit facility (50,000) 0 0
Repayments of long‑term debt (165,000) (34,875) (151,788)
Proceeds from employee stock transactions 3,022 3,561 262
Taxes paid in connection with employee stock transactions (1,028) (13,516) (57)
Finance lease principal payment (185) (74) 0
Repayments of Term Loan A in connection with amendment 0 (64,250) 0
Proceeds from borrowings in connection with amendment 0 66,238 0
Payments of deferred financing fees 0 (2,135) 0
Dividends 0 (636) (2,523)
Cash paid for repurchase of common stock 0 0 (1,967)
Proceeds from issuance of common stock, net of offering costs 0 0 38,083
Net cash used in financing activities (163,191) (45,687) (117,990)
Effect of exchange rate changes on cash 476 (51) 45
Net increase (decrease) in cash 180,768 (7,536) 26,401
Cash, beginning of period 72,515 80,051 53,650
Cash, end of period $ 253,283 $ 72,515 $ 80,051