XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash flows from operating activities:    
Net income $ 162,953 $ 445,052
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 252,114 238,092
Gain on sale of assets (352) (68)
Change in fair value of contingent consideration (58,371) (7,499)
Gain on insurance proceeds from insurance settlements (5,942) (13,836)
Deferred taxes (84,927) 34,202
Increase in long-term pension liability 1,045 480
Stock-based compensation expense 23,590 18,085
Deferred loan cost amortization 2,790 3,138
Equity in net income of Diamond Green Diesel and other unconsolidated subsidiaries (127,943) (309,270)
Distributions of earnings from Diamond Green Diesel and other unconsolidated subsidiaries 0 103,794
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable 212,664 24,397
Income taxes refundable/payable (12,629) (24,551)
Inventories and prepaid expenses 123,271 (22,301)
Accounts payable and accrued expenses (37,879) (94,080)
Other (39,958) 10,065
Net cash provided by operating activities 410,426 405,700
Cash flows from investing activities:    
Capital expenditures (191,728) (234,307)
Acquisitions, net of cash acquired (116,914) (1,079,083)
Investment in Diamond Green Diesel (90,000) (75,000)
Investment in other unconsolidated subsidiaries 0 (27)
Loan to Diamond Green Diesel (100,000) 0
Loan repayment from Diamond Green Diesel 100,000 25,000
Gross proceeds from disposal of property, plant and equipment and other assets 5,058 2,733
Proceeds from insurance settlement 5,942 13,836
Payments related to routes and other intangibles (7) (1,517)
Net cash used in investing activities (387,649) (1,348,365)
Cash flows from financing activities:    
Proceeds from long-term debt 3,925 807,956
Payments on long-term debt (29,875) (83,616)
Borrowings from revolving credit facility 1,121,915 1,415,916
Payments on revolving credit facility (1,122,883) (1,063,516)
Net cash overdraft financing 32,713 16,673
Deferred loan costs 0 (9)
Issuance of common stock 437 0
Repurchase of common stock (29,192) (52,941)
Minimum withholding taxes paid on stock awards (7,209) (15,558)
Distributions to noncontrolling interests (2,044) (4,824)
Net cash provided/(used) in financing activities (32,213) 1,020,081
Effect of exchange rate changes on cash 10,578 16,535
Net increase in cash, cash equivalents and restricted cash 1,142 93,951
Cash, cash equivalents and restricted cash at beginning of period 264,450 150,168
Cash, cash equivalents and restricted cash at end of period $ 265,592 $ 244,119