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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 26, 2015
Sep. 27, 2014
Cash flows from operating activities:    
Net income $ 298,683 $ 258,823
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 90,744 84,521
Loss on disposition of property and equipment 115 249
Share-based compensation expense 14,837 12,114
Excess tax benefit of stock options exercised (16,994) (7,333)
Deferred income taxes (22,799) (28,316)
Change in assets and liabilities:    
Inventories (299,112) (316,516)
Prepaid expenses and other current assets 1,622 7,423
Accounts payable 156,320 166,555
Accrued employee compensation (9,607) (31,043)
Other accrued expenses 882 (379)
Income taxes payable 22,813 16,923
Other 5,950 4,543
Net cash provided by operating activities 243,454 167,564
Cash flows from investing activities:    
Capital expenditures (163,468) (125,425)
Proceeds from sale of property and equipment 371 309
Net cash used in investing activities (163,097) (125,116)
Cash flows from financing activities:    
Borrowings under revolving credit agreement 525,000 260,000
Repayments under revolving credit agreement (335,000) (110,000)
Excess tax benefit of stock options exercised 16,994 7,333
Principal payments under capital lease obligations (318) (57)
Repurchase of shares to satisfy tax obligations (2,998) (4,766)
Repurchase of common stock (243,956) (244,382)
Net proceeds from issuance of common stock 36,354 16,461
Cash dividends paid to stockholders (76,215) (62,270)
Net cash used in financing activities (80,139) (137,681)
Net change in cash and cash equivalents 218 (95,233)
Cash and cash equivalents at beginning of period 51,134 142,743
Cash and cash equivalents at end of period 51,352 47,510
Cash paid during the period for:    
Interest 1,694 546
Income taxes 175,485 162,073
Supplemental disclosures of non-cash activities:    
Property and equipment acquired through capital lease 6,434 1,988
Non-cash accruals for construction in progress $ 23,731 $ 7,654