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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 03, 2023
May 28, 2022
Cash flows from operating activities:    
Net income including non-controlling interest $ 62,338 $ 85,546
Adjustments to reconcile net income including non-controlling interest to net cash provided by (used in) operating activities:    
Depreciation 39,163 36,333
Amortization 37,813 36,412
Deferred income taxes (16,831) (4,961)
Income from equity method investments, net of dividends received (2,338) (2,649)
Debt issuance costs write-off 2,689 0
Gain on mark to market adjustment on contingent consideration liability (220) 0
Gain on sale or disposal of assets (42) (1,087)
Share-based compensation 10,953 13,625
Pension and other post-retirement benefit plan activity (6,226) (9,720)
Change in assets and liabilities, net of effects of acquisitions:    
Trade receivables, net 66,896 (35,491)
Inventories 8,285 (95,413)
Other assets (36,951) (21,908)
Trade payables (20,301) 27,237
Accrued compensation (42,190) (40,448)
Other accrued expenses (9,988) 4,402
Income taxes payable 10,025 (5,864)
Other liabilities 18,819 (23,597)
Other (13,497) 28,452
Net cash provided by (used in) operating activities 108,397 (9,131)
Cash flows from investing activities:    
Purchased property, plant and equipment (82,578) (69,055)
Purchased businesses, net of cash acquired (103,744) (229,314)
Proceeds from sale of property, plant and equipment 2,623 1,269
Cash received from government grant 0 3,928
Net cash used in investing activities (183,699) (293,172)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 1,300,000 335,000
Repayment of long-term debt (1,176,650) 0
Payment of debt issuance costs (10,214) (600)
Net payment of notes payable (239) 3,565
Dividends paid (21,258) (18,965)
Contingent consideration payment 0 (5,000)
Proceeds from stock options exercised 4,193 7,837
Repurchases of common stock (2,552) (3,609)
Net cash provided by financing activities 93,280 318,228
Effect of exchange rate changes on cash and cash equivalents 5,295 (9,562)
Net change in cash and cash equivalents 23,273 6,363
Cash and cash equivalents at beginning of period 79,910 61,786
Cash and cash equivalents at end of period $ 103,183 $ 68,149