XML 22 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Cash flows from operating activities:    
Net income $ 817,842 $ 775,776
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 248,242 194,731
Loss on disposition of property and equipment 1,453 3,295
Share-based compensation expense 38,531 35,737
Deferred income taxes 41,977 14,996
Change in assets and liabilities:    
Inventories (487,001) (416,503)
Prepaid expenses and other current assets (47,823) (15,891)
Accounts payable 63,963 221,717
Accrued employee compensation (29,228) 2,306
Other accrued expenses (40,241) 74,680
Income taxes 13,612 (26,003)
Other 5,003 6,996
Net cash provided by operating activities 626,330 871,837
Cash flows from investing activities:    
Capital expenditures (451,154) (382,358)
Proceeds from sale of property and equipment 169 1,094
Net cash used in investing activities (450,985) (381,264)
Cash flows from financing activities:    
Borrowings under debt facilities 120,000 0
Repayments under debt facilities (30,000) 0
Principal payments under finance lease liabilities (3,288) (3,367)
Repurchase of shares to satisfy tax obligations (28,376) (14,636)
Repurchase of common stock (608,016) (597,973)
Net proceeds from issuance of common stock 15,497 75,193
Cash dividends paid to stockholders (307,951) (179,835)
Net cash used in financing activities (842,134) (720,618)
Net decrease in cash and cash equivalents (666,789) (230,045)
Cash and cash equivalents at beginning of period 878,030 1,341,756
Cash and cash equivalents at end of period 211,241 1,111,711
Cash paid during the period for:    
Interest 16,130 16,008
Income taxes 184,887 229,122
Supplemental disclosures of non-cash activities:    
Non-cash accruals for property and equipment 43,984 22,036
Increase of operating lease assets and liabilities from new or modified leases 264,318 534,222
Increase of finance lease assets and liabilities from new or modified leases $ 5,143 $ 0