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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 25, 2022
Jun. 26, 2021
Jun. 25, 2022
Jun. 26, 2021
Cash flows from operating activities:        
Net income $ 396,478 $ 370,022 $ 583,705 $ 551,376
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 83,360 64,853 161,006 124,907
Loss on disposition of property and equipment     594 3,752
Share-based compensation expense 12,500 10,900 24,850 23,194
Deferred income taxes     38,693 12,814
Change in assets and liabilities:        
Inventories     (293,946) (209,554)
Prepaid expenses and other current assets     (50,318) (28,659)
Accounts payable     124,888 245,815
Accrued employee compensation     (67,144) (34,891)
Other accrued expenses     (22,896) 59,247
Income taxes     98,059 64,140
Other     28,114 (3,234)
Net cash provided by operating activities     625,605 808,907
Cash flows from investing activities:        
Capital expenditures     (265,308) (216,029)
Proceeds from sale of property and equipment     178 316
Net cash used in investing activities     (265,130) (215,713)
Cash flows from financing activities:        
Principal payments under finance lease liabilities     (2,527) (2,207)
Repurchase of shares to satisfy tax obligations (1,230) (1,521) (27,672) (13,588)
Repurchase of common stock (188,210) (203,305) (484,390) (456,714)
Net proceeds from issuance of common stock     12,995 70,026
Cash dividends paid to stockholders (102,622) (59,896) (206,089) (120,466)
Net cash used in financing activities     (707,683) (522,949)
Net (decrease)/increase in cash and cash equivalents     (347,208) 70,245
Cash and cash equivalents at beginning of period     878,030 1,341,756
Cash and cash equivalents at end of period $ 530,822 $ 1,412,001 530,822 1,412,001
Cash paid during the period for:        
Interest     11,673 11,626
Income taxes     36,820 74,457
Supplemental disclosures of non-cash activities:        
Non-cash accruals for property and equipment     42,974 10,418
Increase of operating lease assets and liabilities from new or modified leases     135,858 404,100
Increase of finance lease assets and liabilities from new or modified leases     $ 5,143 $ 0