XML 23 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 30, 2017
Dec. 31, 2016
Dec. 26, 2015
Cash flows from operating activities:      
Net income $ 422,599 $ 437,120 $ 410,395
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 165,834 142,958 123,569
Loss on disposition of property and equipment 460 579 315
Share-based compensation expense 29,202 23,554 19,420
Deferred income taxes 26,724 9,976 (5,450)
Change in assets and liabilities      
Inventories (83,552) (67,650) (168,925)
Prepaid expenses and other current assets 2,305 1,782 (21,066)
Accounts payable 57,046 82,477 56,426
Accrued employee compensation 6,427 (18,237) 5,628
Other accrued expenses (10,338) 20,368 11,252
Income taxes 4,210 11,787 16,282
Other 10,533 5,997 8,366
Net cash provided by operating activities 631,450 650,711 456,212
Cash flows from investing activities:      
Capital expenditures (250,401) (226,017) (236,496)
Proceeds from sale of property and equipment 11,220 362 584
Acquisition of Petsense, net of cash acquired 1,225 0  
Acquisition of Petsense, net of cash acquired   (143,610) 0
Net cash used in investing activities (237,956) (369,265) (235,912)
Cash flows from financing activities:      
Borrowings under debt facilities 1,180,000 945,000 680,000
Repayments under debt facilities (1,027,500) (820,000) (530,000)
Debt issuance costs (599) (1,380) 0
Principal payments under capital lease obligations (2,446) (1,150) (507)
Repurchase of shares to satisfy tax obligations (816) (843) (2,997)
Repurchase of common stock (369,403) (331,708) (292,705)
Net proceeds from issuance of common stock 16,330 41,010 41,689
Cash dividends paid to stockholders (133,828) (122,272) (103,101)
Net cash used in financing activities (338,262) (291,343) (207,621)
Net change in cash and cash equivalents 55,232 (9,897) 12,679
Cash and cash equivalents at beginning of year 53,916 63,813 51,134
Cash and cash equivalents at end of year 109,148 53,916 63,813
Cash paid during the year for:      
Interest 10,481 6,124 2,283
Income taxes 219,081 232,258 226,968
Supplemental disclosures of non-cash activities [Abstract]      
Property and equipment acquired through capital lease 11,395 10,493 13,207
Non-cash accruals for construction in progress $ 8,647 $ 12,303 $ 16,050