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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Jul. 03, 2022
Jun. 27, 2021
Cash flows from operating activities:    
Net income $ 180,205 $ 149,900
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,545 16,811
Equity in income of unconsolidated joint ventures (5,233) (3,513)
Distributions of earnings from unconsolidated joint ventures 4,532 2,773
Amortization of stock-based awards 19,104 16,261
Deferred income taxes 750 123
Fair value adjustments to contingent consideration (64) (163)
Loss (gain) on sale of assets 93 (110)
Changes in operating assets and liabilities, net of effects of business acquisitions:    
Accounts receivable and contract assets (54,874) 10,999
Prepaid expenses and other assets 33,254 17,243
Accounts payable 8,845 19,712
Accrued compensation 15,349 (7,332)
Contract liabilities 59,025 3,083
Other liabilities (12,702) 1,389
Income taxes receivable/payable 8,147 (638)
Net cash provided by operating activities 275,976 226,538
Cash flows from investing activities:    
Payments for business acquisitions, net of cash acquired (33,624) (17,154)
Capital expenditures (8,401) (6,234)
Proceeds from sale of assets 3,754 333
Net cash used in investing activities (38,271) (23,055)
Cash flows from financing activities:    
Proceeds from borrowings 141,456 165,570
Repayments on long-term debt (108,949) (173,895)
Bank overdrafts 0 (33,770)
Repurchases of common stock (150,000) (45,000)
Taxes paid on vested restricted stock (25,193) (17,589)
Stock options exercised 1,205 10,703
Dividends paid (33,873) (29,241)
Payments of contingent earn-out liabilities (4,035) (12,374)
Principal payments on finance leases (3,097) (1,908)
Net cash used in financing activities (182,486) (137,504)
Effect of exchange rate changes on cash and cash equivalents (4,403) 10,772
Net increase in cash and cash equivalents 50,816 76,751
Cash and cash equivalents at beginning of period 166,568 157,515
Cash and cash equivalents at end of period 217,384 234,266
Cash paid during the period for:    
Interest 7,556 7,044
Income taxes, net of refunds received of $4.2 million and $2.0 million 49,131 36,664
Supplemental disclosures of non-cash investing activities:    
Issuance of promissory note for business acquisition $ 14,578 $ 0