XML 44 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 29, 2014
Mar. 30, 2013
Cash flows from operating activities:    
Net income $ 48,809 $ 44,006
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 27,220 22,699
Gain on disposition of property and equipment (57) (156)
Stock compensation expense 3,941 3,397
Excess tax benefit of stock options exercised (1,690) (11,993)
Deferred income taxes 2,616 10,711
Change in assets and liabilities:    
Inventories (245,924) (234,784)
Prepaid expenses and other current assets 10,205 (47)
Accounts payable 161,021 155,651
Accrued employee compensation (43,877) (39,293)
Other accrued expenses (17,016) (14,296)
Income taxes payable 14,747 (27,617)
Other 1,929 (3,577)
Net cash used in operating activities (38,076) (95,299)
Cash flows from investing activities:    
Capital expenditures (41,863) (49,335)
Proceeds from sale of property and equipment 82 185
Net cash used in investing activities (41,781) (49,150)
Cash flows from financing activities:    
Borrowings under revolving credit agreement 80,000 125,000
Repayments under revolving credit agreement 0 (20,000)
Excess tax benefit of stock options exercised 1,690 11,993
Principal payments under capital lease obligations (10) (8)
Repurchase of shares to satisfy tax obligations (1,211) (3,942)
Repurchase of common stock (84,455) (49,863)
Net proceeds from issuance of common stock 6,972 13,590
Cash dividends paid to stockholders (18,083) (13,929)
Net cash (used in) provided by financing activities (15,097) 62,841
Net decrease in cash and cash equivalents (94,954) (81,608)
Cash and cash equivalents at beginning of period 142,743 138,630
Cash and cash equivalents at end of period 47,789 57,022
Cash paid during the period for:    
Interest 172 148
Income taxes 11,994 41,650
Non-cash accruals for construction in progress $ 8,355 $ 17,515