XML 19 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Oct. 01, 2017
Oct. 02, 2016
Cash Flows from Operating Activities:    
Net income $ 22,075 $ 33,844
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 108,697 79,899
Amortization of intangible assets and deferred proceeds 11,596 3,487
Deferred income taxes (24,741) 5,509
Loss on sale of property, plant and equipment 3,420 1,880
Impairment of property, plant and equipment   382
Loss on exchange of franchise territory 0 692
Proceeds from conversion of Legacy Territories bottling agreements 87,066  
Amortization of debt costs 806 1,510
Stock compensation expense 6,473 4,445
Fair value adjustment of acquisition related contingent consideration 23,140 26,060
Change in current assets less current liabilities (exclusive of acquisitions) (19,036) (13,623)
Change in other noncurrent assets (exclusive of acquisitions) (13,391) (12,613)
Change in other noncurrent liabilities (exclusive of acquisitions) (3,746) (3,384)
Other 66 37
Total adjustments 180,350 94,281
Net cash provided by operating activities 202,425 128,125
Cash Flows from Investing Activities:    
Acquisition of Expansion Territories, net of cash acquired (227,769) (174,571)
Additions to property, plant and equipment (exclusive of acquisitions) (114,953) (124,599)
Prepayment of funds for October 2017 Expansion Transactions (56,498)  
Glacéau distribution agreement consideration (15,598)  
Proceeds from cold drink equipment 8,400  
Investment in CONA Services LLC (1,976) (7,216)
Proceeds from the sale of property, plant and equipment 493 333
Net cash used in investing activities (407,901) (306,053)
Cash Flows from Financing Activities:    
Borrowings under Term Loan Facility   300,000
Borrowings under Revolving Credit Facility 333,000 310,000
Payments on Revolving Credit Facility (238,000) (245,000)
Proceeds from issuance of Senior Notes 125,000  
Payments on Senior Notes   (164,757)
Cash dividends paid (6,995) (6,980)
Payment of acquisition related contingent consideration (11,650) (10,470)
Principal payments on capital lease obligations (5,594) (5,279)
Other (213) (867)
Net cash provided by financing activities 195,548 176,647
Net decrease in cash (9,928) (1,281)
Cash at beginning of period 21,850 55,498
Cash at end of period 11,922 54,217
Significant noncash investing and financing activities:    
Additions to property, plant and equipment accrued and recorded in accounts payable, trade 13,724 8,776
Class B Common Stock [Member]    
Significant noncash investing and financing activities:    
Issuance of Class B Common Stock in connection with stock award $ 3,669 $ 3,726