XML 18 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 02, 2017
Aug. 27, 2016
Cash flows from operating activities:    
Net income including non-controlling interests $ 65,834 $ 85,155
Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities:    
Depreciation 36,375 36,730
Amortization 23,128 20,509
Deferred income taxes 1,660 3,785
Income from equity method investments, net of dividends received (2,639) (5,172)
Gain on sale of assets (149) (2,794)
Share-based compensation 12,034 9,469
Excess tax benefit from share-based compensation (1,504) (1,462)
Gain on mark to market adjustment to contingent consideration liability (2,453) (801)
Non-cash charge for sale of inventories revalued at acquisition 193 528
Change in assets and liabilities, net of effects of acquisitions:    
Trade receivables, net (14,016) 25,646
Inventories (55,339) (6,165)
Other assets 2,460 1,790
Trade payables 23,022 (1,365)
Accrued compensation 3,881 (6,715)
Other accrued expenses (5,755) (4,858)
Income taxes payable 7,252 1,415
Accrued / prepaid pensions (3,969) (2,072)
Other liabilities (12,639) 9,088
Other (17,345) 4,199
Net cash provided by operating activities 70,805 145,904
Cash flows from investing activities:    
Purchased property, plant and equipment (35,511) (49,569)
Purchased businesses, net of cash acquired (123,305) (51,298)
Purchased investments (1,250)
Proceeds from sale of property, plant and equipment 745 4,403
Net cash used in investing activities (159,321) (96,464)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 643,000
Repayment of long-term debt and payment of debt issuance costs (540,524) (16,875)
Net (payment of) proceeds from notes payable (10,921) 6,639
Dividends paid (22,058) (20,570)
Purchase of redeemable non-controlling interest (3,127)
Proceeds from stock options exercised 15,033 9,760
Excess tax benefit from share-based compensation 1,504 1,462
Repurchases of common stock (21,717) (11,901)
Net cash provided by (used in) financing activities 61,190 (31,485)
Effect of exchange rate changes on cash and cash equivalents 4,676 (4,021)
Net change in cash and cash equivalents (22,650) 13,934
Cash and cash equivalents at beginning of period 142,245 119,168
Cash and cash equivalents at end of period 119,595 133,102
Supplemental disclosure of cash flow information:    
Dividends paid with company stock 231 185
Cash paid for interest, net of amount capitalized of $201 and $556 for the periods ended September 2, 2017 and August 27, 2016, respectively 25,823 20,436
Cash paid for income taxes, net of refunds $ 22,044 $ 33,428