XML 26 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Jan. 02, 2021
Cash flows from operating activities:      
Net income $ 747,092 $ 657,290 $ 300,330
     Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 394,721 316,387 350,178
Deferred income taxes 46,734 96,812 15,814
Loss/(gain) on sale of assets (4,494) (958) 426
Restructuring and asset impairment 29,666 138 37,802
Decrease in long-term pension liability (7,037) (4,742) (6,555)
Stock-based compensation expense 25,005 21,837 23,222
Write-off deferred loan costs 0 1,130 3,052
Deferred loan cost amortization 4,984 4,038 5,357
Equity in net income of Diamond Green Diesel and other unconsolidated subsidiaries (377,448) (357,380) (318,288)
Distributions of earnings from Diamond Green Diesel and other unconsolidated subsidiaries 95,546 4,611 207,328
         Changes in operating assets and liabilities, net                    of effects from acquisitions:      
Accounts receivable (56,543) (79,954) 22,362
Income taxes refundable/payable (3,495) 18,826 4,200
Inventories and prepaid expenses (130,170) (72,919) (18,666)
Accounts payable and accrued expenses 65,936 84,580 11,200
Other (16,758) 14,724 (13,111)
Net cash provided by operating activities 813,739 704,420 624,651
Cash flows from investing activities:      
Capital expenditures (391,309) (274,126) (280,115)
Acquisitions, net of cash acquired (1,772,437) (2,059) (29,793)
Investment in Diamond Green Diesel (264,750) (189,000) 0
Investment in other unconsolidated subsidiaries 0 (4,449) 0
Loan to Diamond Green Diesel (50,000) (25,000) 0
Loan repayment from Diamond Green Diesel 50,000 0 0
Gross proceeds from sale of property, plant and equipment and other assets 13,442 4,645 2,797
Proceeds from insurance settlement 0 0 293
Payments related to routes and other intangibles (1,492) (274) (3,810)
Net cash used in investing activities (2,416,546) (490,263) (310,628)
Cash flows from financing activities:      
Proceeds from long-term debt 1,934,885 43,824 34,569
Payments on long-term debt (63,078) (142,133) (232,726)
Borrowings from revolving credit facility 1,873,795 620,601 495,691
Payments on revolving credit facility (1,897,280) (515,424) (480,604)
Net cash overdraft financing 24,069 (3,845) (37,692)
Deferred loan costs (16,780) (3,809) (4,292)
Issuance of common stock 0 50 67
Repurchase of common stock (125,531) (167,708) (55,044)
Minimum withholding taxes paid on stock awards (46,944) (46,894) (11,918)
Acquisition of noncontrolling interest 0 0 (8,784)
Distributions to noncontrolling interests (4,532) (6,022) (6,253)
Net cash provided/(used) in financing activities 1,678,604 (221,360) (306,986)
Effect of exchange rate changes on cash flows 5,299 (5,445) 1,638
Net increase/(decrease) in cash, cash equivalents and restricted cash 81,096 (12,648) 8,675
Cash, cash equivalents and restricted cash at beginning of year 69,072 81,720 73,045
Cash, cash equivalents and restricted cash at end of year $ 150,168 $ 69,072 $ 81,720