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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Cash flows from operating activities:    
Net income $ 190,731 $ 153,418
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 79,246 78,534
Gain on sale of assets (389) (64)
Asset impairment 0 138
Deferred taxes 23,826 11,809
Decrease in long-term pension liability (269) (448)
Stock-based compensation expense 6,323 8,415
Write-off deferred loan costs 0 598
Deferred loan cost amortization 1,131 1,040
Equity in net income of Diamond Green Diesel and other unconsolidated subsidiaries (73,164) (102,837)
Distributions of earnings from Diamond Green Diesel and other unconsolidated subsidiaries 0 57
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable (41,317) 10,721
Income taxes refundable/payable (31,224) (760)
Inventories and prepaid expenses (42,891) (27,188)
Accounts payable and accrued expenses 58,964 (13,462)
Other (18,775) 18,834
Net cash provided by operating activities 152,192 138,805
Cash flows from investing activities:    
Capital expenditures (71,618) (60,751)
Acquisitions, net of cash acquired (59,003) (340)
Investment in Diamond Green Diesel (164,750) 0
Investment in other unconsolidated subsidiaries 0 (4,449)
Gross proceeds from disposal of property, plant and equipment and other assets 974 1,629
Payments related to routes and other intangibles (100) (347)
Net cash used in investing activities (294,497) (64,258)
Cash flows from financing activities:    
Proceeds from long-term debt 9,657 9,262
Payments on long-term debt (12,128) (60,444)
Borrowings from revolving credit facility 369,902 111,000
Payments on revolving credit facility (134,000) (97,000)
Net cash overdraft financing 9,830 499
Deferred loan costs (1,810) 0
Issuance of common stock 0 50
Repurchase of common stock (17,189) 0
Minimum withholding taxes paid on stock awards (43,351) (42,268)
Distributions to noncontrolling interests 0 (2,143)
Net cash provided/(used) in financing activities 180,911 (81,044)
Effect of exchange rate changes on cash (8,118) (3,847)
Net increase/(decrease) in cash, cash equivalents and restricted cash 30,488 (10,344)
Cash, cash equivalents and restricted cash at beginning of period 69,072 81,720
Cash, cash equivalents and restricted cash at end of period $ 99,560 $ 71,376