XML 18 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Jun. 27, 2021
Jun. 28, 2020
Cash flows from operating activities:    
Net income $ 149,900 $ 129,234
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,811 19,066
Equity in income of unconsolidated joint ventures (3,513) (5,200)
Distributions of earnings from unconsolidated joint ventures 2,773 5,280
Amortization of stock-based awards 16,261 13,494
Deferred income taxes 123 2,767
Provision for losses on accounts receivables (4,355) 539
Fair value adjustments to contingent consideration (163) (1,521)
Gain on sale of property and equipment (110) (9,693)
Changes in operating assets and liabilities, net of effects of business acquisitions:    
Accounts receivable and contract assets 15,354 148,818
Prepaid expenses and other assets 17,243 1,566
Accounts payable 19,712 (98,029)
Accrued compensation (7,332) (39,978)
Contract liabilities 3,083 17,328
Other liabilities 1,389 10,305
Income taxes receivable/payable (638) 574
Net cash provided by operating activities 226,538 194,550
Cash flows from investing activities:    
Payments for business acquisitions, net of cash acquired (17,154) (28,505)
Capital expenditures (6,234) (9,360)
Proceeds from sale of property and equipment 333 17,162
Net cash used in investing activities (23,055) (20,703)
Cash flows from financing activities:    
Proceeds from borrowings 165,570 298,364
Repayments on long-term debt (173,895) (297,856)
Bank overdrafts (33,770) 0
Repurchases of common stock (45,000) (102,188)
Taxes paid on vested restricted stock (17,589) (11,143)
Stock options exercised 10,703 8,263
Dividends paid (29,241) (25,590)
Payments of contingent earn-out liabilities (12,374) (22,434)
Principal payments on finance leases (1,908) 0
Net cash used in financing activities (137,504) (152,584)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 10,772 (334)
Net increase in cash, cash equivalents and restricted cash 76,751 20,929
Cash, cash equivalents and restricted cash at beginning of period 157,515 120,901
Cash, cash equivalents and restricted cash at end of period 234,266 141,830
Cash paid during the period for:    
Interest 7,044 9,738
Income taxes, net of refunds received of $2.0 million and $1.4 million 36,664 30,259
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 234,266 141,658
Restricted cash 0 172
Total cash, cash equivalents and restricted cash $ 234,266 $ 141,830