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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Cash flows from operating activities:    
Net income $ 125,990 $ 169,859
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation of property, plant, and equipment 45,764 46,011
Amortization of intangible assets 2,805 2,798
(Recoveries of) provisions for excess and obsolete inventory, net (324) 11,488
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 2,807 251
Amortization of debt issuance costs 1,186 1,560
Stock-based compensation expense 14,912 17,221
Unrealized foreign currency exchange (gain) loss, net (201) 268
Provisions for (recoveries of) doubtful accounts receivable from customers 2,402 (987)
Unrealized (gain) loss on investments (1,391) 2,414
Loss on extinguishment of debt 0 19,940
Deferred income taxes (benefit) expense (949) 8,220
Other 0 919
Effect of changes in operating assets and liabilities:    
Accounts receivable (43,623) (33,697)
Finished goods inventories 127,190 (270,696)
Prepaid expenses and other assets [1],[2] (3,965) (11,359)
Accounts payable and other liabilities [1],[2] (62,447) (181,690)
Net cash provided by (used in) operating activities 205,790 (217,480)
Cash flows from investing activities:    
Capital expenditures (42,470) (26,862)
Net cash used in investing activities (42,470) (26,862)
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 70,000 240,000
Payments on secured revolving credit facility (120,000) 0
Repurchases of common stock (67,492) (241,751)
Dividends paid (84,503) (89,562)
Withholdings from vesting of restricted stock (5,007) (6,850)
Proceeds from exercises of stock options 384 776
Other 0 (919)
Net cash used in financing activities (206,618) (616,404)
Net effect of exchange rate changes on cash and cash equivalents 656 (1,899)
Net decrease in cash and cash equivalents (42,642) (862,645)
Cash and cash equivalents, beginning of period 211,748 984,294
Cash and cash equivalents, end of period $ 169,106 $ 121,649
[1] Cash flows for the first three fiscal quarters ended October 1, 2022 were revised to reflect the presentation for payments of rent before payment due date of $13.6 million.
[2] Operating lease assets obtained in exchange for operating lease liabilities were $123.1 million and $108.6 million for the first three fiscal quarters ended September 30, 2023 and first three fiscal quarters ended October 1, 2022, respectively.