XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 01, 2023
Mar. 26, 2022
Cash flows from operating activities:    
Net income $ 183,088 $ 187,227
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 97,233 77,646
(Gain)/loss on disposition of property and equipment (139) 326
Share-based compensation expense 14,514 12,316
Deferred income taxes 45,675 39,924
Change in assets and liabilities:    
Inventories (321,115) (376,987)
Prepaid expenses and other current assets 10,166 (21,516)
Accounts payable 128,252 186,015
Accrued employee compensation (98,796) (60,494)
Other accrued expenses (39,243) (28,463)
Income taxes 191 8,070
Other (272) 35,002
Net cash provided by operating activities 19,554 59,066
Cash flows from investing activities:    
Capital expenditures (157,943) (112,387)
Proceeds from sale of property and equipment 259 99
Net cash used in investing activities (157,684) (112,288)
Cash flows from financing activities:    
Borrowings under debt facilities 747,000 0
Repayments under debt facilities (310,000) 0
Principal payments under finance lease liabilities (1,631) (1,197)
Repurchase of shares to satisfy tax obligations (21,643) (26,442)
Repurchase of common stock (183,196) (296,180)
Net proceeds from issuance of common stock 8,623 7,910
Cash dividends paid to stockholders (113,447) (103,467)
Net cash provided by/(used in) financing activities 125,706 (419,376)
Net decrease in cash and cash equivalents (12,424) (472,598)
Cash and cash equivalents at beginning of period 202,502 878,030
Cash and cash equivalents at end of period 190,078 405,432
Cash paid during the period for:    
Interest 9,274 4,404
Income taxes 1,955 3,897
Supplemental disclosures of non-cash activities:    
Non-cash accruals for property and equipment 45,178 23,538
Increase of operating lease assets and liabilities from new or modified leases 84,740 37,694
Increase of finance lease assets and liabilities from new or modified leases $ 450 $ 5,143