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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
May 28, 2022
May 29, 2021
Cash flows from operating activities:    
Net income including non-controlling interest $ 85,546 $ 78,930
Adjustments to reconcile net income including non-controlling interest to net cash (used in) provided by operating activities:    
Depreciation 36,333 35,976
Amortization 36,412 35,649
Deferred income taxes (4,961) (1,167)
Income from equity method investments, net of dividends received (2,649) (4,072)
Loss on sale or disposal of assets (1,087) 0
Share-based compensation 13,625 12,486
Pension and other post-retirement benefit plan activity (9,720) (15,927)
Change in assets and liabilities, net of effects of acquisitions:    
Trade receivables, net (35,491) (43,191)
Inventories (95,413) (100,358)
Other assets (21,908) (21,709)
Trade payables 27,237 115,488
Accrued compensation (40,448) (8,760)
Other accrued expenses 4,402 1,925
Income taxes payable (5,864) (1,513)
Other liabilities (23,597) (28,980)
Other 28,452 25,055
Net cash (used in) provided by operating activities (9,131) 79,832
Cash flows from investing activities:    
Purchased property, plant and equipment (69,055) (50,726)
Purchased businesses, net of cash acquired (229,314) (5,445)
Proceeds from sale of property, plant and equipment 1,269 1,237
Cash received from government grant 3,928 0
Cash payments related to government grant 0 (1,526)
Net cash used in investing activities (293,172) (56,460)
Cash flows from financing activities:    
Proceeds from debt 335,000 0
Repayment of long-term debt 0 (68,000)
Payment of debt issuance costs (600) 0
Net proceeds of notes payable 3,565 9,335
Dividends paid (18,965) (17,244)
Contingent consideration payment (5,000) 0
Proceeds from stock options exercised 7,837 20,621
Repurchases of common stock (3,609) (2,628)
Net cash provided by (used in) financing activities 318,228 (57,916)
Effect of exchange rate changes on cash and cash equivalents (9,562) 3,607
Net change in cash and cash equivalents 6,363 (30,937)
Cash and cash equivalents at beginning of period 61,786 100,534
Cash and cash equivalents at end of period $ 68,149 $ 69,597