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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Apr. 29, 2017
Apr. 30, 2016
Apr. 25, 2015
Operating activities:      
Net income $ 170,893 $ 187,184 $ 223,261
Net income (loss) from discontinued operations (2,895) 1,500 43,178
Net income from continuing operations 173,788 185,684 180,083
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:      
Depreciation 40,004 34,315 23,768
Amortization 43,814 48,068 20,755
Intangible asset impairment 36,312 0 0
Bad debt expense 1,642 8,246 2,546
Non-cash employee compensation 19,025 28,851 23,070
Accelerated amortization of debt issuance costs on early retirement of debt 60 5,153 0
Excess tax benefits from stock-based compensation 0 (2,656) (255)
Deferred income taxes (13,713) (16,034) 460
Change in assets and liabilities, net of acquired:      
Receivables (103,181) (57,249) (40,696)
Inventory (961) (118,351) (21,754)
Accounts payable 59,654 119,690 10,286
Accrued liabilities (9,009) (4,055) 42,555
Long term receivables (63,976) (38,882) 814
Other changes from operating activities, net (17,845) 2,093 (36,568)
Net cash provided by operating activities- continuing operations 165,614 194,873 205,064
Net cash provided by (used in) operating activities- discontinued operations (2,895) (38,544) 57,627
Net cash provided by operating activities 162,719 156,329 262,691
Investing activities:      
Additions to property and equipment (47,019) (79,354) (60,662)
Acquisitions and equity investments, net of cash assumed 0 (1,106,583) (10,515)
Proceeds from sale of securities 0 48,744 40,775
Purchase of investments 0 0 (543)
Other investing activities 48,212 22,320 18,035
Net cash provided by (used in) investing activities 1,193 (1,114,873) (12,910)
Net cash provided by investing activities- discontinued operations 0 714,239 3,311
Net cash provided by (used in) investing activities 1,193 (400,634) (9,599)
Financing activities:      
Dividends paid (95,910) (90,597) (81,760)
Repurchases of common stock (125,384) (200,000) (47,539)
Proceeds from issuance of long-term debt 0 1,000,000 250,000
Debt issuance costs 0 (11,600) 0
Debt amendment costs (1,266) 0 0
Retirement of long-term debt (26,238) (682,375) (250,000)
Settlement of swap 0 0 (29,003)
Draw on revolver 39,000 20,000 0
Common stock issued, net 8,721 4,825 7,300
ESOP activity (1,086) (133) (188)
Excess tax benefits from stock-based compensation 0 2,749 255
Net cash provided by (used in) financing activities (202,163) 42,869 (150,935)
Effect of exchange rate changes on cash (4,243) (8,371) (19,805)
Net increase (decrease) in cash and cash equivalents (42,494) (209,807) 82,352
Cash and cash equivalents at beginning of period 137,453 347,260 264,908
Cash and cash equivalents at end of period 94,959 137,453 347,260
Supplemental disclosures:      
Income taxes paid 108,394 151,662 110,909
Interest paid $ 34,972 $ 37,883 $ 34,076