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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Operating Activities:    
Net income $ 680,313 $ 796,064
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 88,005 75,272
Amortization 34,349 38,485
(Gain) loss on sale or disposal of property and equipment (1,652) 246
Unrealized foreign currency losses 45,498 24,390
Deferred income taxes (101,133) 8,358
Stock compensation expense 57,871 68,656
Realized loss (gain) on marketable securities 982 (513)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net of allowance for doubtful accounts 156,666 197,024
Inventories (442,312) (357,387)
Other current and non-current assets 29,299 (31,398)
Accounts payable (64,199) 57,602
Other current and non-current liabilities (84,287) (39,941)
Deferred revenue (3,299) (6,914)
Deferred costs 3,426 7,547
Income Taxes 20,067 5,974
Net cash provided by operating activities 419,594 843,465
Investing activities:    
Purchases of property and equipment (184,928) (187,960)
Proceeds from sale of property and equipment 1,693 26
Purchase of intangible assets (1,411) (1,408)
Purchase of marketable securities (1,044,942) (1,081,789)
Redemption of marketable securities 923,894 975,318
Acquisitions, net of cash acquired (13,455) (15,893)
Net cash used in investing activities (319,149) (311,706)
Financing activities:    
Dividends (399,074) (362,602)
Proceeds from issuance of treasury stock related to equity awards 41,052 35,733
Purchase of treasury stock related to equity awards (14,750) (17,636)
Purchase of treasury stock under share repurchase plan (105,206) 0
Net cash used in financing activities (477,978) (344,505)
Effect of exchange rate changes on cash and cash equivalents (38,265) (6,172)
Net (decrease) increase in cash, cash equivalents, and restricted cash (415,798) 181,082
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 $ 1,083,045 $ 1,639,830