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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Cash flows from operating activities:    
Net income $ 445,052 $ 395,560
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 238,092 172,359
Gain on sale of assets (68) (1,444)
Asset impairment 0 8,557
Change in fair value of contingent consideration (7,499) 0
Gain (Loss) on Insurance Proceeds from Insurance Settlements (13,836) 0
Deferred taxes 34,202 35,674
Increase/(decrease) in long-term pension liability 480 (547)
Stock-based compensation expense 18,085 13,369
Deferred loan cost amortization 3,138 2,207
Equity in net income of Diamond Green Diesel and other unconsolidated subsidiaries (309,270) (149,116)
Distributions of earnings from Diamond Green Diesel and other unconsolidated subsidiaries 103,794 1,631
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable 24,397 (47,046)
Income taxes refundable/payable (24,551) (28,834)
Inventories and prepaid expenses (22,301) (95,199)
Accounts payable and accrued expenses (94,080) 72,351
Other 10,065 (18,487)
Net cash provided by operating activities 405,700 361,035
Cash flows from investing activities:    
Capital expenditures (234,307) (151,478)
Acquisitions, net of cash acquired (1,079,083) (1,235,537)
Investment in Diamond Green Diesel (75,000) (239,750)
Investment in other unconsolidated subsidiaries (27) 0
Loan repayment from Diamond Green Diesel 25,000 0
Gross proceeds from disposal of property, plant and equipment and other assets 2,733 2,161
Proceeds from insurance settlement 13,836 0
Payments related to routes and other intangibles (1,517) (179)
Net cash used in investing activities (1,348,365) (1,624,783)
Cash flows from financing activities:    
Proceeds from long-term debt 807,956 1,663,612
Payments on long-term debt (83,616) (23,600)
Borrowings from revolving credit facility 1,415,916 777,902
Payments on revolving credit facility (1,063,516) (937,921)
Net cash overdraft financing 16,673 12
Deferred loan costs (9) (10,707)
Repurchase of common stock (52,941) (65,887)
Minimum withholding taxes paid on stock awards (15,558) (45,836)
Payments of Ordinary Dividends, Noncontrolling Interest (4,824) 0
Net cash provided by financing activities 1,020,081 1,357,575
Effect of exchange rate changes on cash 16,535 (16,059)
Net increase in cash, cash equivalents and restricted cash 93,951 77,768
Cash, cash equivalents and restricted cash at beginning of period 150,168 69,072
Cash, cash equivalents and restricted cash at end of period $ 244,119 $ 146,840