XML 28 R5.htm IDEA: XBRL DOCUMENT v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 27, 2025
Jun. 28, 2024
Cash flows from operating activities:    
Net income $ 14,522 $ 51,754
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 62,118 53,410
Debt related charges included in interest expense 3,627 1,869
Debt conversion inducement expense 46,681 0
Inventory step-up amortization 0 1,056
Stock-based compensation 12,536 12,614
Non-cash lease expense 5,000 4,622
Non-cash gain on equity investments (173) (1,129)
Contingent consideration fair value adjustment (309) 0
Other non-cash losses 3,143 1,408
Deferred income taxes 3,942 0
Gain on sale of discontinued operations (46) 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (41,014) 3,465
Inventories (14,509) (27,235)
Prepaid expenses and other assets 71 (744)
Contract assets 1,800 (11,666)
Accounts payable 11,561 7,069
Accrued expenses and other liabilities (23,312) (16,155)
Income taxes (10,500) (9,864)
Net cash provided by operating activities 75,138 70,474
Cash flows from investing activities:    
Acquisition of property, plant and equipment (44,219) (60,252)
Acquisitions, net of cash acquired (170,872) (138,544)
Other investing activities 97 0
Net cash used in investing activities (214,994) (198,796)
Cash flows from financing activities:    
Principal payments of long-term debt (657,693) 0
Proceeds from issuance of convertible notes, net of discount 977,500 0
Proceeds from revolving credit facility 257,000 208,500
Payments of revolving credit facility (373,000) (51,500)
Purchase of capped calls (71,000) 0
Payment of debt issuance costs (1,266) 0
Proceeds from the exercise of stock options 3,644 742
Tax withholdings related to net share settlements of restricted stock unit awards (16,707) (10,625)
Principal payments on finance leases (2,596) (8,956)
Other financing activities 107 607
Net cash provided by financing activities 115,989 138,768
Effect of foreign currency exchange rates on cash and cash equivalents 459 17
Net increase (decrease) in cash and cash equivalents (23,408) 10,463
Cash and cash equivalents, beginning of period 46,543 23,674
Cash and cash equivalents, end of period $ 23,135 $ 34,137