XML 17 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Operating Activities    
Net Income Attributable to Kadant $ 38,989 $ 43,319
Net income attributable to noncontrolling interest 369 360
Net income 39,358 43,679
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,260 24,304
Stock-based compensation expense 5,126 5,125
Provision for losses on accounts receivable 505 170
Gain on sale of property, plant, and equipment (4) (139)
Other items, net (250) 954
Changes in current assets and liabilities, net of effects of acquisitions:    
Accounts receivable 1,306 (1,124)
Unbilled revenue 4,332 1,957
Inventories (6,229) (10,294)
Other current assets 2,840 (4,093)
Accounts payable (13,183) 2,798
Other current liabilities (4,460) (5,171)
Net cash provided by operating activities 52,601 58,166
Investing Activities    
Acquisitions, net of cash acquired (Note 2) (7,095) (177,058)
Purchases of property, plant, and equipment (5,419) (6,236)
Proceeds from sale of property, plant, and equipment 55 527
Net cash used in investing activities (12,459) (182,767)
Financing Activities    
Repayment of short- and long-term obligations (69,034) (108,272)
Proceeds from issuance of short- and long-term obligations 26,000 247,090
Dividends paid (8,141) (7,604)
Tax withholding payments related to stock-based compensation (2,596) (2,670)
Proceeds from issuance of Company common stock 1,614 2,006
Dividend paid to noncontrolling interest (525) 0
Other financing activities (189) (52)
Net cash (used in) provided by financing activities (52,871) 130,498
Exchange Rate Effect on Cash, Cash Equivalents, and Restricted Cash 660 (2,043)
(Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash (12,069) 3,854
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 68,273 46,117
Cash, Cash Equivalents, and Restricted Cash at End of Period $ 56,204 $ 49,971