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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Apr. 27, 2024
Apr. 29, 2023
Apr. 30, 2022
Operating activities:      
Net income $ 185,519 $ 206,598 $ 201,714
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation 49,617 45,772 44,180
Amortization 38,539 37,932 37,812
Gains on investments 0 0 (101,809)
Bad debt expense 2,542 3,450 2,769
Stock-based compensation 17,871 15,543 23,805
Deferred income taxes (13,523) (1,993) (4,718)
Non-cash losses (gains) and other, net 204 654 (1,431)
Change in assets and liabilities:      
Receivables (1,102,618) (1,047,075) (1,144,833)
Inventory 11,039 (11,086) (53,871)
Accounts payable 21,343 43,095 80,904
Accrued liabilities (2,788) (21,714) (27,630)
Other changes from operating activities, net 2,877 (26,028) (37,886)
Net cash used in operating activities (789,378) (754,852) (980,994)
Investing activities:      
Additions to property and equipment and software (67,626) (64,220) (38,308)
Payments related to acquisitions, net of cash acquired (1,108) (33,280) (19,793)
Collection of deferred purchase price receivables 1,028,277 998,912 1,213,497
Sale of investments 0 0 75,942
Payments related to investments 0 (15,000) 0
Other investing activities 0 15,155 7,690
Net cash provided by investing activities 959,543 901,567 1,239,028
Financing activities:      
Dividends paid (98,333) (101,346) (101,111)
Repurchases of common stock (229,508) (55,492) (35,000)
Payments on long-term debt (36,000) (1,500) (100,750)
Draw (payment) on revolving credit 141,000 16,000 (24,000)
Other financing activities 6,936 15,854 7,627
Net cash used in financing activities (215,905) (126,484) (253,234)
Effect of exchange rate changes on cash 533 (2,576) (6,030)
Net change in cash and cash equivalents (45,207) 17,655 (1,230)
Cash and cash equivalents at beginning of period 159,669 142,014 143,244
Cash and cash equivalents at end of period 114,462 159,669 142,014
Supplemental disclosures:      
Income taxes paid (includes payments for purchased tax credits of $13,575, $0 and $0, respectively) 77,979 62,081 83,549
Interest paid 26,002 19,623 14,633
Supplemental disclosure of non-cash investing activity:      
Retained interest in securitization transactions $ 1,010,438 $ 1,008,741 $ 1,122,627