XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 29, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 151,506 $ 166,703
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant, and equipment 63,441 60,455
Amortization of intangible assets 2,783 1,687
Adjustment to earn-out liability 0 (3,600)
Amortization of debt issuance costs 1,303 1,143
Stock-based compensation expense 12,110 13,451
Unrealized foreign currency exchange gain, net (68) (1,154)
Provisions for doubtful accounts receivable from customers 15,547 3,723
Loss on disposal of property, plant, and equipment, net of recoveries 516 602
Deferred income taxes (3,173) (1,059)
Effect of changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (68,333) (66,021)
Finished goods inventories (145,709) (81,285)
Prepaid expenses and other assets (5,312) (18,018)
Accounts payable and other liabilities (3,253) 40,879
Net cash provided by operating activities 21,358 117,506
Cash flows from investing activities:    
Capital expenditures (47,844) (51,656)
Acquisitions of businesses, net of cash acquired   (159,365)
Acquisitions of businesses, net of cash acquired 96  
Disposals and recoveries from property, plant, and equipment 376 0
Net cash used in investing activities (47,372) (211,021)
Cash flows from financing activities:    
Payment of debt issuance costs (890) (2,138)
Borrowings under secured revolving credit facility 290,000 200,000
Payments on secured revolving credit facility (110,000) (93,965)
Repurchases of common stock (145,493) (150,974)
Dividends paid (63,114) (53,443)
Withholdings from vestings of restricted stock (6,747) (5,654)
Proceeds from exercises of stock options 8,732 5,140
Net cash used in financing activities (27,512) (101,034)
Effect of exchange rate changes on cash and cash equivalents (1,070) 561
Net decrease in cash and cash equivalents (54,596) (193,988)
Cash and cash equivalents, beginning of period 178,494 299,358
Cash and cash equivalents, end of period $ 123,898 $ 105,370