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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
OPERATING ACTIVITIES        
Net income $ 58,058 $ 57,788 $ 151,976 $ 216,604
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation 17,300 17,900 51,025 53,510
Amortization of intangibles 15,864 16,022 47,418 49,773
Deferred revenue     (1,764) 1,769
Impairment charges 0 818 933 4,742
Stock-based compensation     21,428 20,132
(Gain) loss on investments and other assets     (1,947) 922
Deferred income taxes     (16,346) (689)
Other     690 7,829
Changes in operating assets and liabilities:        
Trade receivables     (50,672) (21,752)
Inventories     19,865 66,456
Accounts payable     5,460 (38,475)
Accrued liabilities and income taxes     (19,434) (61,359)
Prepaid expenses and other assets     (1,633) 13,678
Net cash provided by operating activities     206,999 313,140
INVESTING ACTIVITIES        
Acquisitions of businesses, net of cash acquired     0 (198,810)
Purchases of property, plant, and equipment     (50,065) (63,166)
Net proceeds from sale of property, plant and equipment, and other     8,931 597
Net cash used in investing activities     (41,134) (261,379)
FINANCING ACTIVITIES        
Repayments of other debts     (2,037) (2,027)
Payments of term loan     (3,750) (5,625)
Net proceeds related to stock-based award activities     5,037 6,481
Repurchases of common stock     (40,862) 0
Cash dividends paid     (49,687) (45,973)
Net cash used in financing activities     (91,299) (47,144)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash     (396) (7,965)
Increase (decrease) in cash, cash equivalents, and restricted cash     74,170 (3,348)
Cash, cash equivalents, and restricted cash at beginning of period     557,123 564,939
Cash, cash equivalents, and restricted cash at end of period 631,293 561,591 631,293 561,591
Reconciliation of cash and cash equivalents:        
Cash and cash equivalents 629,670 560,056 629,670 560,056
Restricted cash included in other long-term assets 1,623 1,535 1,623 1,535
Cash paid during the period for interest $ 10,500 $ 11,900 30,094 33,177
Capital expenditures, not yet paid     $ 9,217 $ 9,780