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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 29, 2024
Mar. 31, 2023
Cash Flows from Operating Activities:    
Net income $ 165,741 $ 118,127
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense from property, plant and equipment and financing leases 40,888 37,601
Amortization of intangible assets and deferred proceeds, net 5,863 5,908
Deferred income taxes 56,616 40,743
Fair value adjustment of acquisition related contingent consideration (5,541) 41,654
Loss on sale of property, plant and equipment 670 2,389
Amortization of debt costs 251 246
Change in current assets less current liabilities (44,257) (49,538)
Change in other noncurrent assets (781) (1,430)
Change in other noncurrent liabilities (25,177) (11,006)
Total adjustments 28,532 66,567
Net cash provided by operating activities 194,273 184,694
Cash Flows from Investing Activities:    
Purchases of short-term investments (183,806) 0
Additions to property, plant and equipment (77,040) (52,700)
Investment in equity method investees (3,632) 0
Proceeds from the disposal of short-term investments 1,116 0
Proceeds from the sale of property, plant and equipment 100 158
Net cash used in investing activities (263,262) (52,542)
Cash Flows from Financing Activities:    
Cash dividends paid (154,666) (32,808)
Payments of acquisition related contingent consideration (9,700) (6,499)
Payments on financing lease obligations (601) (558)
Debt issuance fees (53) (154)
Net cash used in financing activities (165,020) (40,019)
Net (decrease) increase in cash during period (234,009) 92,133
Cash at beginning of period 635,269 197,648
Cash at end of period 401,260 289,781
Significant non-cash investing and financing activities:    
Additions to property, plant and equipment accrued and recorded in accounts payable, trade 24,310 18,112
Right-of-use assets obtained in exchange for operating lease obligations $ 74 $ 723