XML 16 R5.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 26, 2021
Jun. 27, 2020
Cash flows provided by operating activities:    
Net income $ 124,760 $ 78,375
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 34,174 32,584
Impairment of assets 1,231 2,355
(Gain) loss on disposal of property, plant and equipment (150) 39
Change in right-of-use assets 3,954 3,649
Other non-cash (income) expense (98) 375
Stock-based compensation expense 10,291 7,103
Deferred income taxes (39) 12,407
Changes in operating assets and liabilities:    
Accounts receivable (35,075) (45,326)
Inventories (120,675) (12,795)
Prepaid expenses, income tax receivable and other current assets (25,329) (3,347)
Third-party production prepayments (17,024) (11,415)
Other assets (5,475) (253)
Accounts payable 78,801 19,560
Accrued expenses and other current liabilities (14,427) 20,803
Change in operating lease liabilities (4,052) (80)
Other liabilities 120 (23)
Net cash provided by operating activities 30,987 104,011
Cash flows used in investing activities:    
Purchases of property, plant and equipment (83,521) (60,072)
Proceeds from disposal of property, plant and equipment 420 45
Other investing activities 145 260
Net cash used in investing activities (82,956) (59,767)
Cash flows (used in) provided by financing activities:    
Proceeds from exercise of stock options and sale of investment shares 7,944 8,010
Net cash paid on note payable and finance leases (795) (649)
Cash borrowed on line of credit   100,000
Cash paid on line of credit   (100,000)
Payment of tax withholding on stock-based payment awards and investment shares (15,509) (1,559)
Net cash (used in) provided by financing activities (8,360) 5,802
Change in cash and cash equivalents (60,329) 50,046
Cash and cash equivalents at beginning of year 163,282 36,670
Cash and cash equivalents at end of period 102,953 86,716
Supplemental disclosure of cash flow information:    
Income taxes paid 34,395 2,929
Cash paid for amounts included in measurement of lease liabilities    
Operating cash flows from operating leases 5,212 4,532
Operating cash flows from finance leases 66 75
Financing cash flows from finance leases 724 581
Right-of-use-assets obtained in exchange for operating lease obligations 1,961 11,311
Right-of-use-assets obtained in exchange for finance lease obligations   3,856
Change in purchase of property, plant and equipment in accounts payable and accrued expenses $ (6,928) $ 4,920