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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 28, 2019
Sep. 29, 2018
Operating Activities    
Net income $ 24,083 $ 38,659
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 22,458 24,517
Slow moving inventory valuation adjustment 1,039 (147)
Stock-based compensation 4,752 4,239
(Gain) loss on sale of assets 54 (9)
Deferred income taxes 30 (2,333)
Changes in operating assets and liabilities:    
Trade receivables (10,957) 13,272
Inventories (2,600) 13,669
Trade accounts payable and accrued expenses (8,472) (2,238)
Contract liability to customers (3,837) 3,704
Employee compensation and benefits (7,318) 5,079
Product liability (122) 44
Prepaid expenses, other assets and other liabilities (6,837) (2,878)
Income taxes payable (3,340)
Cash provided by operating activities 8,933 95,578
Investing Activities    
Property, plant and equipment additions (9,150) (4,884)
Proceeds from sale of assets 14 9
Purchases of short-term investments (203,342)
Proceeds from maturities of short-term investments 203,161
Cash used for investing activities (9,317) (4,875)
Financing Activities    
Remittance of taxes withheld from employees related to share-based compensation (900) (816)
Repurchase of common stock (1,996)
Dividends paid (12,399) (15,535)
Cash used for financing activities (15,295) (16,351)
(Decrease) increase in cash and cash equivalents (15,679) 74,352
Cash and cash equivalents at beginning of period 38,492 63,487
Cash and cash equivalents at end of period $ 22,813 $ 137,839