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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
OPERATING ACTIVITIES        
Net income $ 45,466 $ 70,071 $ 93,918 $ 158,816
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation 17,100 18,000 33,719 35,623
Amortization of intangibles 15,729 16,885 31,554 33,751
Deferred revenue     (1,272) 824
Impairment charges 0 3,924 933 3,924
Stock-based compensation     16,888 16,275
Loss (gain) on investments and other assets     1,148 (680)
Deferred income taxes     (12,427) (3,431)
Other     2,618 (2,939)
Changes in operating assets and liabilities:        
Trade receivables     (36,474) (30,562)
Inventories     16,241 26,638
Accounts payable     6,819 (33,796)
Accrued liabilities and income taxes     (28,829) (57,790)
Prepaid expenses and other assets     1,738 4,980
Net cash provided by operating activities     126,574 151,633
INVESTING ACTIVITIES        
Acquisitions of businesses, net of cash acquired     0 (158,260)
Purchases of property, plant, and equipment     (34,674) (41,501)
Net proceeds from sale of property, plant and equipment, and other     7,997 741
Net cash used in investing activities     (26,677) (199,020)
FINANCING ACTIVITIES        
Repayments of other debts     (1,351) (1,347)
Payments of term loan     (3,750) (3,750)
Net (payments) proceeds related to stock-based award activities     (997) 2,201
Repurchases of common stock     (40,862) 0
Cash dividends paid     (32,330) (29,790)
Net cash used in financing activities     (79,290) (32,686)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash     (14,434) (1,772)
Increase (decrease) in cash, cash equivalents, and restricted cash     6,173 (81,845)
Cash, cash equivalents, and restricted cash at beginning of period     557,123 564,939
Cash, cash equivalents, and restricted cash at end of period 563,296 483,094 563,296 483,094
Supplementary Cash Flow Information        
Cash and cash equivalents 561,742 480,743 561,742 480,743
Restricted cash included in prepaid expenses and other current assets 0 771 0 771
Restricted cash included in other long-term assets 1,554 1,580 1,554 1,580
Cash paid during the period for interest $ 6,400 $ 10,300 19,621 21,310
Capital expenditures, not yet paid     $ 8,386 $ 10,183