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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jan. 01, 2022
Jan. 02, 2021
Dec. 28, 2019
Cash Flows from Operating Activities:      
Net income $ 212,602 $ 155,801 $ 50,434
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 32,070 30,535 28,959
Amortization of deferred financing fees 679 935 2,189
Stock-based compensation 15,474 9,009 52,332
Deferred income taxes 5,147 (3,827) 15,615
Impairment of long-lived assets 2,473 1,051 616
Loss on prepayment, modification, or extinguishment of debt 0 1,064 643
Other 1,022 (74) 0
Changes in operating assets and liabilities:      
Accounts receivable, net (44,681) 16,353 (19,940)
Inventory (179,803) 46,052 (40,541)
Other current assets (10,587) 1,982 (6,798)
Accounts payable and accrued expenses 112,773 89,125 6,614
Taxes payable (3,781) 14,943 (3,101)
Other 3,132 3,478 (129)
Net cash provided by operating activities 146,520 366,427 86,893
Cash Flows from Investing Activities:      
Purchases of property and equipment (56,121) (15,566) (32,077)
Additions of intangibles, net (9,635) (7,378) (16,614)
Net cash used in investing activities (65,756) (22,944) (48,691)
Cash Flows from Financing Activities:      
Repayments of long‑term debt (22,500) (165,000) (34,875)
Proceeds from employee stock transactions 4,095 3,022 3,561
Taxes paid in connection with employee stock transactions (3,506) (1,028) (13,516)
Finance lease principal payment (1,108) (185) (74)
Borrowings under revolving line of credit 0 50,000 0
Repayments under revolving credit facility 0 (50,000) 0
Repayments of Term Loan A in connection with amendment 0 0 (64,250)
Proceeds from borrowings in connection with amendment 0 0 66,238
Payments of deferred financing fees 0 0 (2,135)
Dividends 0 0 (636)
Net cash used in financing activities (23,019) (163,191) (45,687)
Effect of exchange rate changes on cash 1,161 476 (51)
Net increase (decrease) in cash 58,906 180,768 (7,536)
Cash, beginning of period 253,283 72,515 80,051
Cash, end of period $ 312,189 $ 253,283 $ 72,515