XML 22 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 26, 2015
Dec. 27, 2014
Dec. 28, 2013
Cash flows from operating activities:      
Net income $ 410,395 $ 370,885 $ 328,234
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 123,569 114,635 100,025
Loss on disposition of property and equipment 315 389 35
Stock compensation expense 19,420 16,173 13,893
Excess tax benefit of stock options exercised (27,032) (18,850) (43,517)
Deferred income taxes (5,450) (19,814) (8,309)
Change in assets and liabilities      
Inventories (168,925) (136,142) (71,192)
Prepaid expenses and other current assets (21,066) (9,085) (5,551)
Accounts payable 56,426 54,336 (3,905)
Accrued employee compensation 5,628 (13,517) 2,173
Other accrued expenses 11,252 20,365 9,938
Income taxes payable 16,282 21,862 9,582
Other 8,366 7,941 2,275
Net cash provided by operating activities 429,180 409,178 333,681
Cash flows from investing activities:      
Capital expenditures (236,496) (160,613) (218,200)
Proceeds from sale of property and equipment 584 331 477
Decrease in restricted cash 0 0 8,400
Net cash used in investing activities (235,912) (160,282) (209,323)
Cash flows from financing activities:      
Borrowings under revolving credit agreement 680,000 355,000 185,000
Repayments under revolving credit agreement (530,000) (355,000) (185,000)
Excess tax benefit of stock options exercised 27,032 18,850 43,517
Principal payments under capital lease obligations (507) (114) (38)
Repurchases of shares to satisfy tax obligations (2,997) (4,766) (4,142)
Repurchase of common stock (292,705) (298,497) (129,416)
Net proceeds from issuance of common stock 41,689 28,083 38,318
Cash dividends paid to stockholders (103,101) (84,061) (68,484)
Net cash used in financing activities (180,589) (340,505) (120,245)
Net (decrease) increase in cash and cash equivalents 12,679 (91,609) 4,113
Cash and cash equivalents at beginning of year 51,134 142,743 138,630
Cash and cash equivalents at end of year 63,813 51,134 142,743
Cash paid during the year for:      
Interest 2,283 906 780
Income taxes 226,968 213,637 188,003
Property acquired through capital lease 13,207 4,042 0
Non-cash accruals for construction in progress $ 16,050 $ 14,843 $ 8,258