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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2018 | Apr. 01, 2017
Cash flows from operating activities-- |  |
Net earnings | $ 65,420 | $ 70,702
Adjustments to reconcile net earnings to net cash provided by operating activities-- |  |
Depreciation and amortization | 20,024 | 14,057
Non-cash share-based compensation | 145 | 3,550
Deferred taxes | 2,568 | 15,285
Changes in assets and liabilities, net of acquisitions |  |
Accounts receivable, net | 1,041 | 19,417
Inventories, net | (9,129) | (24,088)
Prepaid expenses and other assets | 19,326 | (7,400)
Accounts payable | (3,404) | (2,201)
Accrued expenses and other liabilities | (51,243) | (42,442)
Net cash provided by operating activities | 44,748 | 46,880
Cash flows from investing activities-- |  |
Additions to property and equipment | (16,657) | (8,276)
Payments to Acquire Intangible Assets | (5,399) | 0
Payments to Acquire Businesses, Net of Cash Acquired | (29,459) | (2,696)
Net cash (used in) investing activities | (51,515) | (10,972)
Cash flows from financing activities-- |  |
Proceeds from (Repayments of) Lines of Credit | 18,482 | (3,133)
Net (repayments) proceeds under foreign bank loan | (114) | (1,155)
Proceeds from (Repayments of) Notes Payable | (3) | (8)
Repurchase of treasury stock | 0 | (24,645)
Net cash (used in) provided by financing activities | 18,365 | (28,941)
Effect of exchange rates on cash and cash equivalents | 2,038 | 1,124
Changes in cash and cash equivalents-- |  |
Net (decrease) increase in cash and cash equivalents | 13,636 | 8,091
Cash and cash equivalents at beginning of year | 89,654 | 68,485
Cash and cash equivalents at end of quarter | $ 103,290 | $ 76,576

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