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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 27, 2015
Jun. 28, 2014
Operating activities:    
Net income $ 48,679 $ 49,967
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 14,761 14,459
Amortization of intangibles 6,030 6,297
Stock-based compensation $ 5,764 5,229
Non-cash inventory charge   2,769
Excess tax benefit on share-based compensation $ (1,470) (2,230)
Loss on sale of assets 329 141
Changes in operating assets and liabilities:    
Accounts receivable (21,266) (17,871)
Inventories (1,199) 410
Accounts payable 3,440 2,533
Accrued expenses (including post-retirement) 11,129 (7,578)
Accrued payroll and severance (3,652) (7,323)
Accrued taxes (3,003) (2,101)
Prepaid expenses and other 2,422 (2,189)
Net cash provided by operating activities $ 61,964 42,513
Investing activities:    
Acquisition of business, net of cash acquired   (52,768)
Purchases of property, plant, and equipment $ (26,388) $ (13,132)
Decrease in entrusted loan receivable 3,519  
Proceeds from sale of assets 48 $ 37
Net cash used in investing activities (22,821) (65,863)
Financing activities:    
Proceeds from revolving credit facility 11,000 97,500
Payments of revolving credit facility (21,000) (19,500)
Payments of term loan (2,500) $ (2,500)
Payments of entrusted loan (3,519)  
Debt issuance costs (42) $ (108)
Cash dividends paid $ (11,296) (9,921)
Purchases of common stock   (14,283)
Proceeds from exercise of stock options $ 6,278 11,101
Excess tax benefit on share-based compensation 1,470 2,230
Net cash (used in) provided by financing activities (19,609) 64,519
Effect of exchange rate changes on cash and cash equivalents (5,190) 45
Increase in cash and cash equivalents 14,344 41,214
Cash and cash equivalents at beginning of period 297,571 305,192
Cash and cash equivalents at end of period $ 311,915 $ 346,406