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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2017 | Jan. 01, 2017
Cash flows from (used in) operating activities: |  |
Net earnings | $ 362,334 | $ 346,638
Adjustments to reconcile net earnings to cash flows from operating activities (note 21(a)) | 175,199 | 158,447
Cash flows from (used in) operations before changes in working capital | 537,533 | 505,085
Changes in non-cash working capital balances: |  |
Trade accounts receivable | 38,924 | 57,097
Income taxes | (5,424) | (1,716)
Inventories | 27,102 | (15,188)
Prepaid expenses, deposits and other current assets | (5,227) | 7,070
Accounts payable and accrued liabilities | 20,452 | (14,450)
Cash flows from operating activities | 613,360 | 537,898
Cash flows from (used in) investing activities: |  |
Purchase of property, plant and equipment | (91,951) | (129,408)
Purchase of intangible assets | (2,845) | (10,833)
Business acquisitions (note 5) | (115,776) | (163,947)
Proceeds on disposal of property, plant and equipment | 542 | 833
Cash flows used in investing activities | (210,030) | (303,355)
Cash flows from (used in) financing activities: |  |
Increase (decrease) in amounts drawn under revolving long-term bank credit facility | 30,000 | (375,000)
Dividends paid | (84,822) | (74,382)
Withholding taxes paid pursuant to the settlement of non-Treasury RSUs | (4,520) | (4,696)
Proceeds from the issuance of shares | 4,900 | 2,209
Repurchase and cancellation of shares (note 13(d)) | (328,616) | (394,451)
Share repurchases for settlement of non-Treasury RSUs (note 13(e)) | (6,280) | 0
Cash flows used in financing activities | (389,338) | (246,320)
Effect of exchange rate changes on cash and cash equivalents denominated in foreign currencies | 606 | (701)
Net increase (decrease) in cash and cash equivalents during the fiscal year | 14,598 | (12,478)
Cash and cash equivalents, beginning of fiscal year | 38,197 | 50,675
Cash and cash equivalents, end of fiscal year | 52,795 | 38,197
Cash paid (included in cash flows from operating activities): |  |
Interest | 16,658 | 10,670
Income taxes, net of refunds | 15,209 | 9,349
Term Loan |  |
Cash flows from (used in) financing activities: |  |
Proceeds from borrowings | 0 | 300,000
Notes |  |
Cash flows from (used in) financing activities: |  |
Proceeds from borrowings | $ 0 | $ 300,000

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