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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Jan. 02, 2016
Dec. 27, 2014
Operating activities      
Net income $ 104,488 $ 80,866 $ 98,100
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 33,800 29,701 29,374
Amortization of Intangible Assets 19,337 11,898 12,501
Impairment of assets 14,809 293
Provision for bad debts 1,769 164 130
Non-cash inventory charge 7,834 2,769
Net loss on pension settlement, net of tax 19,308
Loss on sale of product line 1,391
Loss on sale of property, plant, and equipment 813 1,253 1,042
Stock-based compensation 11,987 10,266 9,069
Excess tax benefit on share-based compensation (3,421) (1,891) (2,843)
Deferred income taxes (5,269) 11,479 (4,488)
Accounts receivable (25,235) (14,377) (13,062)
Inventories 8,539 (3,577) (2,258)
Accounts payable 19,190 2,573 17,281
Accrued expenses (including post-retirement) 2,287 6,482 (1,577)
Accrued payroll and severance 6,131 5,883 2,360
Accrued taxes (18,062) 557 769
Prepaid expenses and other (255) 5,241 3,681
Net cash provided by operating activities 180,133 165,826 153,141
Investing activities      
Acquisitions of businesses, net of cash acquired (471,118) (4,558) (56,368)
Purchases of short-term investments (4,331)
Purchase of cost method investment (3,500)
Proceeds from maturities of short-term investments 345 6,770
Decrease (increase) in entrusted loan 5,510 7,811 (17,908)
Purchases of property, plant, and equipment (46,228) (44,019) (32,281)
Proceeds from sale of property, plant, and equipment 248 102 125
Net cash used in investing activities (511,243) (44,164) (103,993)
Financing activities:      
Proceeds of revolving credit facility 367,000 49,000 97,500
Proceeds of term loan 125,000
Proceeds of senior notes payable 226,428
Payments of term loan (89,688) (8,750) (5,000)
Payments of revolving credit facility (331,500) (55,500) (135,000)
Proceeds from exercise of stock options 20,494 9,150 14,061
Proceeds (Payments) from entrusted loan (5,510) (7,811) 17,908
Debt issuance costs (3,583) (42) (107)
Cash dividends paid (27,866) (24,341) (21,175)
Excess tax benefit on share-based compensation 3,421 1,891 2,843
Purchases of common stock (31,252) (14,283)
Net cash provided by (used in) financing activities 284,196 (67,655) (43,253)
Effect of exchange rate changes on cash and cash equivalents (6,748) (22,792) (13,516)
Increase (decrease) in cash and cash equivalents (53,662) 31,215 (7,621)
Cash and cash equivalents at beginning of year 328,786 297,571 305,192
Cash and cash equivalents at end of year $ 275,124 $ 328,786 $ 297,571