XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 26, 2022
Mar. 27, 2021
Sep. 25, 2021
Cash flows from operating activities:      
Net income $ 187,227 $ 181,354  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 77,646 60,054  
Loss on disposition of property and equipment 326 108  
Share-based compensation expense 12,316 12,318  
Deferred income taxes 39,924 20,158  
Change in assets and liabilities:      
Inventories (376,987) (301,407)  
Prepaid expenses and other current assets (21,516) (12,568)  
Accounts payable 186,015 205,828  
Accrued employee compensation (60,494) (51,599)  
Other accrued expenses (28,463) 55,305  
Income taxes 8,070 20,288  
Other 35,002 (12,722)  
Net cash provided by operating activities 59,066 177,117  
Cash flows from investing activities:      
Capital expenditures (112,387) (100,741)  
Proceeds from sale of property and equipment 99 222  
Net cash used in investing activities (112,288) (100,519)  
Cash flows from financing activities:      
Principal payments under finance lease liabilities (1,197) (1,086)  
Repurchase of shares to satisfy tax obligations (26,442) (12,067)  
Repurchase of common stock (296,180) (253,409) $ (296,180)
Net proceeds from issuance of common stock 7,910 58,708  
Cash dividends paid to stockholders (103,467) (60,570)  
Net cash used in financing activities (419,376) (268,424)  
Net decrease in cash and cash equivalents (472,598) (191,826)  
Cash and cash equivalents at beginning of period 878,030 1,341,756 $ 1,341,756
Cash and cash equivalents at end of period 405,432 1,149,930  
Cash paid during the period for:      
Interest 4,404 4,216  
Income taxes 3,897 2,071  
Supplemental disclosures of non-cash activities:      
Non-cash accruals for property and equipment 23,538 10,301  
Increase of operating lease assets and liabilities from new or modified leases 37,694 238,494  
Increase of finance lease assets and liabilities from new or modified leases $ 5,143 $ 0