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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 03, 2022
Nov. 27, 2021
Nov. 28, 2020
Cash flows from operating activities:      
Net income including non-controlling interest $ 180,407 $ 161,475 $ 123,788
Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities:      
Depreciation 72,593 72,106 68,226
Amortization 74,383 71,068 70,591
Deferred income taxes (15,230) 16,192 (24,730)
Income from equity method investments, net of dividends received (9) 2,776 375
(Gain) loss on sale of assets (1,195) 648 86
Share-based compensation 24,368 22,366 16,914
Pension and other postretirement benefit plan contributions (3,009) (3,840) (5,479)
Pension and other postretirement benefit plan income (24,021) (28,662) (14,763)
Mark to market adjustment related to contingent consideration liabilities 0 2,300 800
Change in assets and liabilities, net of effects of acquisitions:      
Trade receivables, net (24,753) (124,849) (14,842)
Inventories (55,772) (135,351) 15,708
Other assets 46,499 (79,097) 38,412
Trade payables (22,629) 176,337 23,130
Accrued compensation 1,135 27,741 2,588
Other accrued expenses 6,303 1,186 16,361
Income taxes payable (12,873) (4,137) 5,511
Other liabilities 4,104 (73,508) 24,566
Other 6,213 108,566 (15,683)
Net cash provided by operating activities 256,514 213,317 331,559
Cash flows from investing activities:      
Purchased property, plant and equipment (129,964) (96,089) (87,288)
Purchased businesses, net of cash acquired (250,807) (5,445) (9,500)
Purchased business assets 0 0 (5,623)
Proceeds from sale of property, plant and equipment 1,556 2,896 1,506
Cash received from government grant 3,928 5,800 0
Cash outflow related to government grant 0 (1,822) (8,555)
Net cash used in investing activities (375,287) (94,660) (109,460)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 335,000 0 300,000
Repayment of long-term debt (159,500) (156,500) (518,000)
Payment of debt issue costs (600) 0 0
Net proceeds from notes payable 3,455 9,346 4,128
Dividends paid (39,207) (34,859) (33,461)
Contingent consideration payment (5,000) (1,700) (767)
Proceeds from stock options exercised 30,122 32,325 12,321
Repurchases of common stock (3,950) (2,682) (3,432)
Net cash provided by (used in) financing activities 160,320 (154,070) (239,211)
Effect of exchange rate changes on cash and cash equivalents (23,423) (3,335) 5,455
Net change in cash and cash equivalents 18,124 (38,748) (11,657)
Cash and cash equivalents at beginning of year 61,786 100,534 112,191
Cash and cash equivalents at end of year 79,910 61,786 100,534
Supplemental disclosure of cash flow information:      
Dividends paid with company stock 348 339 263
Cash paid for interest, net of amount capitalized of $1,518, $905, and $565 for the years ended December 3, 2022, November 27, 2021 and November 28, 2020, respectively 83,527 62,753 69,452
Cash paid for income taxes, net of refunds $ 73,449 $ 72,955 $ 49,986