XML 25 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jul. 28, 2018
Jul. 29, 2017
Jul. 30, 2016
Net Income $ 165,670 $ 130,155 $ 125,766
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 87,631 86,051 71,006
Deferred income tax (benefit) expense (14,819) (1,891) 12,480
Share-based compensation 25,783 25,675 15,308
Excess tax deficit from share-based payment arrangements 0 1,320 83
Loss on disposition of assets 2,820 943 458
Restructuring and asset impairment 3,370 640 758
Restructuring and asset impairment 7,872 0  
Goodwill impairment 7,872    
Gain associated with disposal of investment (699) (6,106) 0
Change in accounting estimate (20,909) 0 0
Provision for doubtful accounts 12,006 5,728 6,426
Non-cash interest expense (income) 275 175 (106)
Changes in assets and liabilities, net of acquired companies:      
Accounts receivable (67,283) (38,757) 29,417
Inventories (108,795) (6,929) 2,113
Prepaid expenses and other assets 4,473 (6,383) 5,381
Accounts payable 4,395 90,217 14,379
Accrued expenses and other liabilities 7,682 (62) 13,140
Net cash provided by operating activities 109,472 280,776 296,609
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (44,608) (56,112) (41,375)
Purchases of acquired businesses, net of cash acquired (39) (9,207) (306,724)
Long-term investment (3,397) (2,000) 0
Gain associated with disposal of investment 756 9,192 0
Payment of company owned life insurance premiums 0 (2,000) (2,925)
Proceeds from disposition of assets 283 168 109
Net cash used in investing activities (47,005) (59,959) (350,915)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from borrowings under revolving credit line 556,061 215,662 709,972
Repayments of borrowings under revolving credit line (569,671) (418,693) (646,481)
Repayments of long-term debt (12,128) (11,546) (11,255)
Repurchase of common stock (24,231) 0 0
(Decrease) increase in bank overdraft (434) (7,445) 6,063
Proceeds from exercise of stock options 975 274 2,011
Payment of employee restricted stock tax withholdings (4,563) (1,313) (1,717)
Excess tax deficit from share-based payment arrangements 0 (1,320) (83)
Capitalized debt issuance costs 0 (180) (2,164)
Net cash (used in) provided by financing activities (53,991) (224,561) 56,346
Effect of exchange rate changes on cash and cash equivalents (575) 565 (827)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 7,901 (3,179) 1,213
Cash and cash equivalents at beginning of period 15,414 18,593 17,380
Cash and cash equivalents at end of period 23,315 15,414 18,593
Supplemental disclosures of cash flow information:      
Cash paid for interest 16,471 17,115 16,696
Cash paid for federal and state income taxes, net of refunds $ 64,042 $ 78,984 $ 67,028