XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 01, 2022
May 02, 2021
Cash flows from operating activities:    
Net income $ 38,048 $ 23,498
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,668 7,420
Amortization of right-of-use assets 1,140 1,055
Investment impairments and credit loss reserves 24 246
Accretion of deferred financing costs and debt discount 121 121
Deferred income taxes 1,747 (29)
Share-based compensation 10,893 11,839
Loss (gain) on disposition of assets 8 (20)
Equity in net gains of equity method investments (24) (78)
Corporate-owned life insurance, net (47) 2,562
Changes in assets and liabilities:    
Accounts receivable, net 5,147 3,915
Inventories 712 (6,425)
Other assets 3,017 5,815
Accounts payable (126) 1,513
Accrued liabilities (16,808) (14,659)
Other liabilities (1,469) (4,188)
Net cash provided by operating activities 50,051 32,585
Cash flows from investing activities:    
Proceeds from sales of property, plant and equipment 0 32
Purchase of property, plant and equipment (8,315) (5,760)
Purchase of investments (2,000) (2,927)
Proceeds from corporate-owned life insurance 2,676 0
Premiums paid for corporate-owned life insurance (2,676) 0
Net cash used in investing activities (10,315) (8,655)
Cash flows from financing activities:    
Proceeds from revolving line of credit 10,000 0
Payments of revolving line of credit 0 (4,000)
Payment for employee share-based compensation payroll taxes (4,570) (6,230)
Proceeds from exercise of stock options 417 628
Repurchase of common stock (50,000) (25,000)
Net cash used in financing activities (44,153) (34,602)
Net decrease in cash and cash equivalents (4,417) (10,672)
Cash and cash equivalents at beginning of period 279,601 268,891
Cash and cash equivalents at end of period 275,184 258,219
Supplemental disclosure of cash flow information:    
Interest paid 987 1,065
Income taxes paid 3,347 2,917
Non-cash investing and financing activities:    
Accounts payable related to capital expenditures 3,808 2,355
Conversion of notes into equity $ 0 $ 626