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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended
--- | ---
Oct. 01, 2016 | Oct. 03, 2015
Cash flows from operating activities-- |  |
Net earnings | $ 203,280 | $ 141,323
Adjustments to reconcile net earnings to net cash provided by operating activities-- |  |
Depreciation and amortization | 44,409 | 33,983
Non-cash share-based compensation | 17,346 | 11,686
Deferred taxes | 19,325 | (1,536)
Changes in assets and liabilities, net of acquisitions |  |
Accounts receivable, net | (35,984) | 4,502
Inventories, net | (35,229) | (25,596)
Prepaid expenses and other assets | (8,354) | 3,800
Accounts payable | (12,933) | 6,534
Accrued expenses and other liabilities | (16,763) | (7,120)
Net cash provided by operating activities | 175,097 | 167,576
Cash flows from investing activities-- |  |
Additions to property and equipment | (18,799) | (17,992)
Payments to Acquire Businesses, Net of Cash Acquired | (210,921) | (261,923)
Net cash (used in) investing activities | (229,720) | (279,915)
Cash flows from financing activities-- |  |
Net (repayments) proceeds under current revolving credit facilities | 100,362 | 129,000
Net (repayments) proceeds under foreign bank loan | (25,954) | (1,385)
Proceeds from (Repayments of) Notes Payable | (26) | (26)
Repurchase of treasury stock | (4,418) | (4,836)
Debt Issuance Cost | (6,254) | 0
Excess tax benefit related to share-based compensation | (830) | 2,396
Net cash (used in) provided by financing activities | 62,880 | 125,149
Effect of exchange rates on cash and cash equivalents | (2,005) | (1,693)
Changes in cash and cash equivalents-- |  |
Net (decrease) increase in cash and cash equivalents | 6,252 | 11,117
Cash and cash equivalents at beginning of year | 55,528 | $ 43,945
Cash and cash equivalents at end of quarter | $ 61,780 |

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