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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 26, 2022
Mar. 27, 2021
Operating Activities:    
Net income $ 211,592 $ 220,029
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 28,984 23,988
Amortization 12,228 12,902
(Gain) loss on sale or disposal of property and equipment (1,129) 133
Unrealized foreign currency (gains) losses (5,113) 7,277
Deferred income taxes (25,996) 497
Stock compensation expense 24,706 22,698
Realized (gain) loss on marketable securities (2) 22
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net of allowance for doubtful accounts 238,134 281,524
Inventories (134,807) (87,450)
Other current and non-current assets (1,628) (13,710)
Accounts payable (61,939) (3,470)
Other current and non-current liabilities (119,159) (95,977)
Deferred revenue (3,704) (7,998)
Deferred costs 1,904 3,945
Income Taxes 21,563 3,952
Net cash provided by operating activities 185,634 368,362
Investing activities:    
Purchases of property and equipment (59,715) (36,894)
Proceeds from sale of property and equipment 1,131 0
Purchase of intangible assets (547) (760)
Purchase of marketable securities (497,526) (404,599)
Redemption of marketable securities 431,604 354,039
Acquisitions, net of cash acquired (10,828) (15,893)
Net cash used in investing activities (135,881) (104,107)
Financing activities:    
Dividends (128,856) (116,655)
Proceeds from issuance of treasury stock related to equity awards 20,146 17,657
Purchase of treasury stock related to equity awards (14,610) (17,281)
Net cash used in financing activities (123,320) (116,279)
Effect of exchange rate changes on cash and cash equivalents (6,960) (6,488)
Net (decrease) increase in cash, cash equivalents, and restricted cash (80,527) 141,488
Cash, cash equivalents, and restricted cash at beginning of period 1,498,843 1,458,748
Cash, cash equivalents, and restricted cash at end of period $ 1,418,316 $ 1,600,236