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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 29, 2019
Dec. 30, 2018
Cash Flows from Operating Activities:      
Net income (loss) $ 182,097 $ 18,560 $ (15,156)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation expense from property, plant and equipment and financing or capital leases 155,936 156,886 164,502
Amortization of intangible assets and deferred proceeds, net 23,081 23,030 22,754
Fair value adjustment of acquisition related contingent consideration 31,210 92,788 28,767
Deferred income taxes 8,737 3,987 9,366
Impairment of property, plant and equipment 8,030 8,798 453
Loss on sale of property, plant and equipment 5,187 6,498 7,103
Amortization of debt costs 1,050 1,313 1,477
Stock compensation expense 0 2,045 5,606
Gain on exchange transactions 0 0 (10,170)
Proceeds from Legacy Facilities Credit 0 0 1,320
Change in current assets less current liabilities 55,607 (31,681) (26,387)
Change in other noncurrent assets 21,820 15,201 4,347
Change in other noncurrent liabilities 641 (7,203) (25,122)
Other 1,065 148 19
Total adjustments 312,364 271,810 184,035
Net cash provided by operating activities 494,461 290,370 168,879
Cash Flows from Investing Activities:      
Additions to property, plant and equipment (202,034) (171,374) (138,235)
Proceeds from the sale of property, plant and equipment 3,385 4,064 5,259
Investment in CONA Services LLC (1,770) (1,713) (2,098)
Other distribution agreements 0 (4,654) 0
Net cash paid for exchange transactions 0 0 (13,116)
Proceeds from cold drink equipment 0 0 3,789
Acquisition of distribution territories and manufacturing plants, net of cash acquired and purchase price settlements 0 0 456
Net cash used in investing activities (200,419) (173,677) (143,945)
Cash Flows from Financing Activities:      
Payments on revolving credit facility (280,000) (550,339) (483,000)
Borrowings under revolving credit facility 235,000 515,339 356,000
Payments on term loan facility and senior bonds (45,000) (140,000) (7,500)
Proceeds from issuance of senior notes 0 100,000 150,000
Purchase of noncontrolling interest in Piedmont Coca-Cola Bottling Partnership (100,000) 0 0
Payments of acquisition related contingent consideration (43,400) (27,182) (24,683)
Cash dividends paid (9,374) (9,369) (9,353)
Payments on financing or capital lease obligations (5,861) (8,656) (8,221)
Debt issuance fees (228) (420) (1,531)
Net cash used in financing activities (248,863) (120,627) (28,288)
Net increase (decrease) in cash 45,179 (3,934) (3,354)
Cash at beginning of year 9,614 13,548 16,902
Cash at end of year $ 54,793 $ 9,614 $ 13,548