XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jul. 01, 2023
Jun. 25, 2022
Cash flows from operating activities:    
Net income $ 604,322 $ 583,705
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 199,512 161,006
(Gain)/loss on disposition of property and equipment (474) 594
Share-based compensation expense 30,179 24,850
Deferred income taxes 30,916 38,693
Change in assets and liabilities:    
Inventories 34,626 (293,946)
Prepaid expenses and other current assets (22,439) (50,318)
Accounts payable (126,400) 124,888
Accrued employee compensation (56,795) (67,144)
Other accrued expenses (26,994) (22,896)
Income taxes 104,723 98,059
Other 11,145 28,114
Net cash provided by operating activities 782,321 625,605
Cash flows from investing activities:    
Capital expenditures (349,586) (265,308)
Proceeds from sale of property and equipment 761 178
Proceeds from Orscheln acquisition net working capital settlement 4,310 0
Net cash used in investing activities (344,515) (265,130)
Cash flows from financing activities:    
Borrowings under debt facilities 1,767,000 0
Repayments under debt facilities (1,195,000) 0
Debt discounts and issuance costs (9,729) 0
Principal payments under finance lease liabilities (2,805) (2,527)
Repurchase of shares to satisfy tax obligations (23,121) (27,672)
Repurchase of common stock (345,653) (484,390)
Net proceeds from issuance of common stock 15,252 12,995
Cash dividends paid to stockholders (226,221) (206,089)
Net cash used in financing activities (20,277) (707,683)
Net increase/(decrease) in cash and cash equivalents 417,529 (347,208)
Cash and cash equivalents at beginning of period 202,502 878,030
Cash and cash equivalents at end of period 620,031 530,822
Cash paid during the period for:    
Interest 20,462 11,673
Income taxes 36,226 36,820
Supplemental disclosures of non-cash activities:    
Non-cash accruals for property and equipment 27,031 42,974
Increase of operating lease assets and liabilities from new or modified leases 260,268 135,858
Increase of finance lease assets and liabilities from new or modified leases $ 450 $ 5,143