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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 26, 2022
Cash flows from operating activities    
Net income $ 68,895 $ 66,502
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 42,698 39,390
Amortization of right of use asset 4,989 4,979
Stock-based compensation expense 24,153 16,036
Lease-related impairment charge 12,736 0
Gain on sale of land 0 (34,227)
Change in long-term retirement benefit obligations (13,760) (9,823)
Other – net 2,301 2,872
Changes in operating assets and liabilities, net of business acquisitions:    
Accounts receivable – net 58,542 62,438
Other assets (2,517) (12,287)
Accounts payable, accrued payroll and other liabilities (79,306) (120,886)
Unexpired subscriptions 1,051 1,154
Net cash provided by operating activities 119,782 16,148
Cash flows from investing activities    
Purchases of marketable securities (43,643) (6,649)
Maturities of marketable securities 47,103 458,306
Business acquisitions, net of cash acquired 0 (515,299)
Capital expenditures (10,792) (19,005)
Other – net 2,302 1,457
Net cash used in investing activities (5,030) (81,190)
Long-term obligations:    
Dividends paid (33,195) (26,895)
Payment of contingent consideration (1,724) (1,724)
Capital shares:    
Proceeds from stock option exercises 0 3
Repurchases (43,591) (54,469)
Share-based compensation tax withholding (11,649) (9,629)
Net cash used in financing activities (90,159) (92,714)
Net increase/(decrease) in cash, cash equivalents and restricted cash 24,593 (157,756)
Effect of exchange rate changes on cash (29) (812)
Cash, cash equivalents and restricted cash at the beginning of the period 235,173 334,306
Cash, cash equivalents and restricted cash at the end of the period $ 259,737 $ 175,738