XML 30 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 27, 2015
Jun. 28, 2014
Operating Activities    
Net income $ 33,063 $ 46,605
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 17,841 17,880
Slow moving inventory valuation adjustment (1,011) 960
Stock-based compensation 2,298 2,758
Gain on sale of assets (157) (7)
Deferred income taxes (1,176) $ 623
Impairment of assets 12  
Changes in operating assets and liabilities:    
Trade receivables (4,378) $ 15,680
Inventories 11,511 (18,078)
Trade accounts payable and accrued expenses 5,925 (10,181)
Employee compensation and benefits 6,881 (12,751)
Product liability (401) (35)
Prepaid expenses, other assets and other liabilities 8,785 (7,639)
Income taxes payable 1,671 (239)
Cash provided by operating activities 80,864 35,576
Investing Activities    
Property, plant and equipment additions (16,259) (22,817)
Proceeds from sale of assets 218 275
Cash used for investing activities (16,041) (22,542)
Financing Activities    
Tax benefit from exercise of stock options and vesting of RSU's 305 1,620
Remittance of taxes withheld from employees related to share-based compensation (1,000) (2,317)
Proceeds from exercise of stock options 97 $ 23
Repurchase of common stock (2,841)  
Dividends paid (9,161) $ (19,989)
Cash used for financing activities (12,600) (20,663)
Increase (decrease) in cash and cash equivalents 52,223 (7,629)
Cash and cash equivalents at beginning of period 8,901 55,064
Cash and cash equivalents at end of period $ 61,124 $ 47,435