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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Cash Flows from Operating Activities:    
Net income $ 97,452 $ 70,919
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, amortization and accretion 24,931 22,544
Gain on equity method investment   (2,498)
Provision for doubtful accounts 61 197
Benefit for deferred income taxes (414) (1,154)
Provision for stock-based compensation 6,212 4,069
Payment of contingent consideration (2,418)  
Changes in assets and liabilities:    
Accounts receivable 20,746 (11,685)
Inventories (97,156) 3,093
Prepaids and other current assets (7,216) 1,360
Other assets (3,639) (1,923)
Accounts payable 20,456 20,334
Accrued customer rebates and returns 23,786 24,690
Accrued compensation and other liabilities (5,200) 15,773
Cash provided by operating activities 77,601 145,719
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired (345,483) (14,308)
Property, plant and equipment additions (15,274) (12,061)
Cash used in investing activities (360,757) (26,369)
Cash Flows from Financing Activities:    
Proceeds of revolving credit line 252,360 99,000
Payments of revolving credit line (3,000) (99,000)
Payment of contingent consideration (7,982)  
Payment of debt issuance costs (4,215)  
Proceeds from exercise of stock options 909  
Other stock-related activity 1,055 112
Purchase and cancellation of common stock (54,272) (17,313)
Cash provided by (used in) financing activities 184,855 (17,201)
Effect of exchange rate changes on Cash and Cash Equivalents (12)  
Net (Decrease) Increase in Cash and Cash Equivalents (98,313) 102,149
Cash and Cash Equivalents, Beginning of Period 155,576 68,353
Cash and Cash Equivalents, End of Period 57,263 170,502
Supplemental Cash Flow Information    
Cash paid for interest expense 567 680
Cash paid for income taxes $ 37,500 $ 19,575