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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Cash flows from operating activities:    
Net income $ 81,588 $ 189,855
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 127,509 116,006
Gain on sale of assets (574) (327)
Change in fair value of contingent consideration (25,249) 0
Gain (Loss) on Insurance Proceeds from Insurance Settlements 0 (8,836)
Deferred taxes (30,572) 14,956
Increase in long-term pension liability 504 236
Stock-based compensation expense 12,836 11,853
Deferred loan cost amortization 1,395 1,621
Equity in net income of Diamond Green Diesel and other unconsolidated subsidiaries (80,729) (94,457)
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable 181,243 14,733
Income taxes refundable/payable (12,542) (13,030)
Inventories and prepaid expenses 69,885 (25,726)
Accounts payable and accrued expenses (58,004) (35,254)
Other (3,382) 16,796
Net cash provided by operating activities 263,908 188,426
Cash flows from investing activities:    
Capital expenditures (93,775) (111,327)
Acquisitions, net of cash acquired (109,938) (1,079,083)
Investment in Diamond Green Diesel (90,000) (75,000)
Loan to Diamond Green Diesel (100,000) 0
Loan repayment from Diamond Green Diesel 100,000 0
Gross proceeds from disposal of property, plant and equipment and other assets 2,756 1,302
Proceeds from insurance settlement 0 8,836
Payments related to routes and other intangibles (2) (1,517)
Net cash used in investing activities (290,959) (1,256,789)
Cash flows from financing activities:    
Proceeds from long-term debt 3,036 807,363
Payments on long-term debt (15,549) (19,259)
Borrowings from revolving credit facility 584,755 687,452
Payments on revolving credit facility (558,986) (243,829)
Net cash overdraft financing 41,977 148
Deferred loan costs 0 (31)
Issuance of common stock 437 0
Repurchase of common stock 0 (43,794)
Minimum withholding taxes paid on stock awards (6,905) (15,297)
Net cash provided by financing activities 48,765 1,172,753
Effect of exchange rate changes on cash 6,471 7,281
Net increase in cash, cash equivalents and restricted cash 28,185 111,671
Cash, cash equivalents and restricted cash at beginning of period 264,450 150,168
Cash, cash equivalents and restricted cash at end of period $ 292,635 $ 261,839