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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 25, 2021
Sep. 26, 2020
Cash flows relating to operating activities        
Net income $ 105,159 $ 102,611 $ 259,010 $ 221,116
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 68,686 59,580 198,299 174,048
Stock-based compensation     52,289 40,973
Debt extinguishment and financing costs     28,972 2,759
Deferred income taxes     (13,757) (3,131)
Loss (gain) on venture capital and strategic equity investments, net     17,277 (32,226)
Other, net     (9,432) 14,143
Changes in assets and liabilities:        
Trade receivables and contract assets, net     (35,592) (51,456)
Inventories     (5,639) (14,055)
Accounts payable     11,431 (12,327)
Accrued compensation     18,210 29,438
Deferred revenue     (9,394) (1,308)
Customer contract deposits     4,850 9,887
Other assets and liabilities, net     15,017 30,335
Net cash provided by operating activities     531,541 408,196
Cash flows relating to investing activities        
Acquisition of businesses and assets, net of cash acquired     (1,292,093) (419,146)
Capital expenditures (55,536) (26,185) (129,997) (78,706)
Purchases of investments and contributions to venture capital investments     (31,963) (19,887)
Proceeds from sale of investments     5,960 5,810
Other, net     854 (1,192)
Net cash used in investing activities     (1,447,239) (513,121)
Cash flows relating to financing activities        
Proceeds from long-term debt and revolving credit facility     6,119,671 1,411,954
Proceeds from exercises of stock options     43,314 43,806
Payments on long-term debt, revolving credit facility, and finance lease obligations     (5,190,394) (1,320,961)
Purchase of treasury stock     (40,440) (23,905)
Payment of debt extinguishment and financing costs     (38,253) 0
Other, net     (2,328) (4,417)
Net cash provided by financing activities     891,570 106,477
Effect of exchange rate changes on cash, cash equivalents, and restricted cash     17,514 5,825
Net change in cash, cash equivalents, and restricted cash     (6,614) 7,377
Cash, cash equivalents, and restricted cash, beginning of period     233,119 240,046
Cash, cash equivalents, and restricted cash, end of period 226,505 247,423 226,505 247,423
Supplemental cash flow information:        
Cash and cash equivalents 212,539 242,879 212,539 242,879
Cash classified within current assets held for sale 8,612 0 8,612 0
Restricted cash included in Other current assets 4,275 2,968 4,275 2,968
Restricted cash included in Other assets 1,079 1,576 1,079 1,576
Cash, cash equivalents, and restricted cash, end of period $ 226,505 $ 247,423 $ 226,505 $ 247,423