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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 01, 2023
Apr. 02, 2022
Cash flows from operating activities:    
Net income $ 189,855 $ 190,731
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 116,006 79,246
Gain on sale of assets (327) (389)
Gain (Loss) on Insurance Proceeds from Insurance Settlements (8,836) 0
Deferred taxes 14,956 23,826
Increase/(decrease) in long-term pension liability 236 (269)
Stock-based compensation expense 11,853 6,323
Deferred loan cost amortization 1,621 1,131
Equity in net income of Diamond Green Diesel and other unconsolidated subsidiaries (94,457) (73,164)
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable 14,733 (41,317)
Income taxes refundable/payable (13,030) (31,224)
Inventories and prepaid expenses (25,726) (42,891)
Accounts payable and accrued expenses (35,254) 58,964
Other 16,796 (18,775)
Net cash provided by operating activities 188,426 152,192
Cash flows from investing activities:    
Capital expenditures (111,327) (71,618)
Acquisitions, net of cash acquired (1,079,083) (59,003)
Investment in Diamond Green Diesel (75,000) (164,750)
Gross proceeds from disposal of property, plant and equipment and other assets 1,302 974
Proceeds from insurance settlement 8,836 0
Payments related to routes and other intangibles (1,517) (100)
Net cash used in investing activities (1,256,789) (294,497)
Cash flows from financing activities:    
Proceeds from long-term debt 807,363 9,657
Payments on long-term debt (19,259) (12,128)
Borrowings from revolving credit facility 687,452 369,902
Payments on revolving credit facility (243,829) (134,000)
Net cash overdraft financing 148 9,830
Deferred loan costs (31) (1,810)
Repurchase of common stock (43,794) (17,189)
Minimum withholding taxes paid on stock awards (15,297) (43,351)
Net cash provided by financing activities 1,172,753 180,911
Effect of exchange rate changes on cash 7,281 (8,118)
Net increase in cash, cash equivalents and restricted cash 111,671 30,488
Cash, cash equivalents and restricted cash at beginning of period 150,168 69,072
Cash, cash equivalents and restricted cash at end of period $ 261,839 $ 99,560