XML 20 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Nov. 28, 2020
Nov. 30, 2019
Dec. 01, 2018
Cash flows from operating activities:      
Net income including non-controlling interest $ 123,788 $ 130,844 $ 171,232
Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities:      
Depreciation 68,226 67,115 68,636
Amortization 70,591 74,091 76,490
Deferred income taxes (24,730) (29,028) (47,446)
Income from equity method investments, net of dividends received 375 (39) (3,172)
Loss (gain) on sale of assets 86 (24,104) (3,050)
Share-based compensation 16,914 24,003 17,113
Pension and other postretirement benefit plan contributions (5,479) (8,063) (6,558)
Pension and other postretirement benefit plan income (14,763) (11,300) (14,332)
Mark to market adjustment related to contingent consideration liabilities 800 0 1,126
Trade receivables, net (14,842) (25,632) (39,429)
Inventories 15,708 19,584 (17,068)
Other assets 38,412 (18,316) (35,184)
Trade payables 23,130 11,553 25,401
Accrued compensation 2,588 1,342 (306)
Other accrued expenses 16,361 (1,882) (4,282)
Income taxes payable (5,511) (21,043) (4,048)
Other liabilities (24,566) (448) 21,429
Other (15,683) 37,518 81,522
Net cash provided by operating activities 331,559 269,177 253,312
Cash flows from investing activities:      
Purchased property, plant and equipment (87,288) (61,982) (68,263)
Purchased businesses, net of cash acquired (9,500) (8,292) 3,499
Purchased business assets (5,623) 0 0
Purchased business remaining equity 0 (9,870) 0
Proceeds from sale of property, plant and equipment 1,506 11,133 2,923
Proceeds from sale of business 0 70,293 0
Cash received from government grant 0 8,881 0
Cash outflow related to government grant (8,555) (2,758) 0
Net cash (used in) provided by investing activities (109,460) 7,405 (61,841)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 300,000 0 0
Repayment of long-term debt (518,000) (288,600) (185,750)
Net proceeds from (payments on) notes payable 4,128 1,662 (13,276)
Dividends paid (33,461) (32,357) (31,124)
Contingent consideration payment (767) (3,610) 0
Proceeds from stock options exercised 12,321 10,885 6,237
Repurchases of common stock (3,432) (3,026) (4,688)
Net cash used in financing activities (239,211) (315,046) (228,601)
Effect of exchange rate changes on cash and cash equivalents 5,455 (138) (6,475)
Net change in cash and cash equivalents (11,657) (38,602) (43,605)
Cash and cash equivalents at beginning of year 112,191 150,793 194,398
Cash and cash equivalents at end of year 100,534 112,191 150,793
Supplemental disclosure of cash flow information:      
Dividends paid with company stock 263 338 207
Cash paid for interest, net of amount capitalized of $565, $416, and $285 for the years ended November 28, 2020, November 30, 2019 and December 1, 2018, respectively 69,452 107,088 109,428
Cash paid for income taxes, net of refunds $ 49,986 $ 37,232 $ 36,841