XML 40 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 28, 2019
Dec. 29, 2018
Dec. 30, 2017
Operating Activities      
Net Income Attributable to Kadant $ 52,068 $ 60,413 $ 31,092
Net income attributable to noncontrolling interest 496 633 491
Net Income 52,564 61,046 31,583
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 32,390 23,568 19,375
Stock-based compensation expense 6,815 7,027 5,803
Provision for losses on accounts receivable 114 355 436
(Gain) loss on sale of property, plant, and equipment (79) 110 42
U.S. benefit plans settlement and curtailment losses 5,887 1,425 0
Impairment costs 2,336 0 0
Deferred income tax (benefit) provision (2,491) (4,240) 578
Other items, net (2,097) 1,310 1,420
Contributions to U.S. pension plan 0 0 (1,080)
Changes in current assets and liabilities, net of effects of acquisitions:      
Accounts receivable 6,553 (7,016) (10,907)
Unbilled revenues 2,559 (11,350) 1,310
Inventories (3,076) (6,577) 1,163
Other current assets (5,618) 3,820 (130)
Accounts payable 7,358 5,419 (522)
Other current liabilities (5,802) (11,912) 16,093
Net cash provided by operating activities 97,413 62,985 65,164
Investing Activities      
Acquisitions, net of cash acquired (Note 2) (177,798) 0 (204,731)
Purchases of property, plant, and equipment (9,957) (16,559) (17,281)
Proceeds from sale of property, plant, and equipment 398 195 130
Net cash used in investing activities (187,357) (16,364) (221,882)
Financing Activities      
Proceeds from issuance of long-term obligations 247,196 50,055 232,019
Repayment of long-term obligations (126,315) (110,094) (68,187)
Dividends paid (10,196) (9,644) (9,011)
Proceeds from issuance of Company common stock 5,176 813 0
Tax withholding payments related to stock-based compensation (2,691) (3,886) (2,206)
Dividend paid to noncontrolling interest (664) (465) (882)
Payment of debt issuance costs (Note 6) (56) (934) (1,257)
Net cash provided by (used in) financing activities 112,450 (74,155) 150,476
Exchange Rate Effect on Cash, Cash Equivalents, and Restricted Cash (350) (3,195) 9,519
Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 22,156 (30,729) 3,277
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 46,117 76,846 73,569
Cash, Cash Equivalents, and Restricted Cash at End of Year $ 68,273 $ 46,117 $ 76,846