XML 20 R7.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Dec. 26, 2020
OPERATING ACTIVITIES      
Net income $ 373,306 $ 283,806 $ 129,986
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 65,011 55,906 56,139
Amortization of intangibles 55,695 42,729 40,039
Non-cash pension settlement charges 0 19,855 0
Impairment charges 4,546 0 36,078
Deferred revenue 115 (2,570) (593)
Non-cash inventory charges 15,593 8,397 0
Stock-based compensation 23,626 19,611 18,129
Loss (gain) on investments and other assets 14,024 (8,907) (4,663)
Deferred income taxes (22,419) (8,020) (3,214)
Other 32,680 20,275 (18,230)
Changes in operating assets and liabilities:      
Trade receivables (19,334) (10,234) (25,588)
Inventories (89,235) (104,555) (12,425)
Accounts payable (22,403) 40,481 28,820
Accrued liabilities and income taxes (9,495) 30,793 6,765
Prepaid expenses and other assets (1,992) (14,223) 6,788
Net cash provided by operating activities 419,718 373,344 258,031
INVESTING ACTIVITIES      
Acquisitions of businesses, net of cash acquired (532,670) (423,633) 0
Purchases of property, plant, and equipment (104,341) (90,562) (56,191)
Proceeds from sale of property, plant, and equipment 676 15,425 4,758
Other (62) (390) 0
Net cash used in investing activities (636,397) (499,160) (51,433)
FINANCING ACTIVITIES      
Proceeds of term loan 300,000 0 0
Proceeds from senior notes payable 100,000 0 0
Payments of senior notes payable (25,000) 0 0
Proceeds of revolving credit facility 0 0 240,000
Payments of revolving credit facility 0 (30,000) (110,000)
Repayments of other debts (1,552) 0 0
Payments of term loan and other loans (3,750) (2,619) (145,000)
Net proceeds related to stock-based award activities (862) 13,365 18,744
Debt issuance costs (2,723) 0 (1,786)
Cash dividends paid (55,911) (49,730) (46,839)
Purchases of common stock 0 0 (22,927)
Net cash provided by (used in) financing activities 310,202 (68,984) (67,808)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (11,420) (9,889) 17,596
Increase (decrease) in cash, cash equivalents, and restricted cash 82,103 (204,689) 156,386
Cash, cash equivalents, and restricted cash at beginning of period 482,836 687,525 531,139
Cash, cash equivalents, and restricted cash at end of period 564,939 482,836 687,525
Reconciliation of cash and cash equivalents:      
Cash and cash equivalents 562,588 478,473 687,525
Restricted cash included in prepaid expenses and other current assets 802 2,718 0
Restricted cash included in other assets 1,549 1,645 0
Cash paid during the period for interest 25,439 17,420 20,095
Cash paid during the period for income taxes, net of refunds 93,622 55,561 27,619
Capital expenditures, not yet paid $ 11,725 $ 11,872 $ 6,126