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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Apr. 30, 2016
Apr. 25, 2015
Apr. 26, 2014
Operating activities:      
Net income $ 187,184 $ 223,261 $ 200,612
Net income from discontinued operations 1,500 43,178 29,280
Net income from continuing operations 185,684 180,083 171,332
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:      
Depreciation 34,315 23,768 23,843
Amortization 48,068 20,755 18,603
Bad debt expense 8,246 2,546 2,544
Non-cash employee compensation 28,851 23,070 16,932
Accelerated amortization of debt issuance costs on early retirement of debt 5,153 0 0
Excess tax benefits from stock-based compensation (2,656) (255) (1,290)
Deferred income taxes (16,034) 460 5,533
Change in assets and liabilities net of acquired:      
Receivables (57,249) (40,696) (49,784)
Inventory (118,351) (21,754) (41,501)
Accounts payable 119,690 10,286 13,828
Accrued liabilities (4,055) 42,555 15,828
Long term receivables (38,882) 814 (5,108)
Other changes from operating activities, net 2,093 (36,568) (22,543)
Net cash provided by operating activities- continuing operations 194,873 205,064 148,217
Net cash provided by (used in) operating activities- discontinued operations (38,544) 57,627 47,619
Net cash provided by operating activities 156,329 262,691 195,836
Investing activities:      
Additions to property and equipment (79,354) (60,662) (34,041)
Acquisitions and equity investments, net of cash assumed (1,106,583) (10,515) (145,815)
Proceeds from sale of securities 48,744 40,775 0
Purchase of investments 0 (543) (99,672)
Other investing activities 22,320 18,035 (4,436)
Net cash used in investing activities (1,114,873) (12,910) (283,964)
Net cash provided by investing activities- discontinued operations 714,239 3,311 200
Net cash used in investing activities (400,634) (9,599) (283,764)
Financing activities:      
Dividends paid (90,597) (81,760) (85,657)
Repurchases of common stock (200,000) (47,539) (96,486)
Proceeds from issuance of long-term debt 1,000,000 250,000 0
Debt issuance costs (11,600) 0 0
Retirement of long-term debt (682,375) (250,000) 0
Settlement of swap 0 (29,003) 0
Draw on revolver 20,000 0 0
Common stock issued, net 4,825 7,300 20,217
ESOP activity (133) (188) 435
Excess tax benefits from stock-based compensation 2,749 255 1,290
Net cash provided by (used in) financing activities 42,869 (150,935) (160,201)
Effect of exchange rate changes on cash (8,371) (19,805) 7,809
Net increase (decrease) in cash and cash equivalents (209,807) 82,352 (240,320)
Cash and cash equivalents at beginning of period 347,260 264,908 505,228
Cash and cash equivalents at end of period 137,453 347,260 264,908
Supplemental disclosures:      
Income taxes paid 151,662 110,909 108,374
Interest paid $ 37,883 $ 34,076 $ 34,933