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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Cash flows from operating activities:    
Net income $ 59,863 $ 104,903
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation of property, plant, and equipment 30,655 29,838
Amortization of intangible assets 1,877 1,865
(Recoveries of) provisions for excess and obsolete inventory, net (1,581) 3,709
Gain on partial termination of corporate lease (4,366) 0
Other asset impairments and loss on disposal of property, plant and equipment, net of recoveries 2,751 246
Amortization of debt issuance costs 788 1,173
Stock-based compensation expense 10,984 12,218
Unrealized foreign currency exchange gain, net (429) (32)
Recoveries of doubtful accounts receivable from customers (491) (1,520)
Unrealized (gain) loss on investments (633) 1,867
Loss on extinguishment of debt 0 19,940
Deferred income taxes expense 4,274 4,762
Other 0 1,019
Effect of changes in operating assets and liabilities:    
Accounts receivable 67,425 48,973
Finished goods inventories 70,017 (215,519)
Prepaid expenses and other assets [1],[2] (21,643) (19,071)
Accounts payable and other liabilities [1],[2] (10,249) (87,966)
Net cash provided by (used in) operating activities 209,242 (93,595)
Cash flows from investing activities:    
Capital expenditures (26,356) (16,313)
Net cash used in investing activities (26,356) (16,313)
Cash flows from financing activities:    
Payment of senior notes due 2025 0 (500,000)
Premiums paid to extinguish debt 0 (15,678)
Payment of debt issuance costs 0 (2,420)
Borrowings under secured revolving credit facility 0 120,000
Payments on secured revolving credit facility (120,000) 0
Repurchases of common stock (39,922) (176,306)
Dividends paid (56,641) (60,460)
Withholdings from vesting of restricted stock (4,837) (6,681)
Proceeds from exercises of stock options 83 311
Other 0 (321)
Net cash used in financing activities (221,317) (641,555)
Net effect of exchange rate changes on cash and cash equivalents 1,186 (1,492)
Net decrease in cash and cash equivalents (37,245) (752,955)
Cash and cash equivalents, beginning of period 211,748 984,294
Cash and cash equivalents, end of period $ 174,503 $ 231,339
[1] Cash flows for the two fiscal quarters ended July 2, 2022 were revised to reflect the presentation for payments of rent before payment due date of $13.2 million.
[2] Operating lease assets obtained in exchange for operating lease liabilities were $80.0 million and $30.8 million for the two fiscal quarters ended July 1, 2023 and two fiscal quarters ended July 2, 2022, respectively.