XML 17 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Cash flows from operating activities:    
Net income $ 133,409 $ 61,860
Adjustments to reconcile net income to cash provided by (used in) operations:    
Depreciation and amortization 6,746 7,465
Amortization of debt discount and issuance costs 263 603
Adjustments to debt issuance costs associated with term loan 0 5,791
Gains from sales of property 0 (1,287)
Deferred income tax (1,994) (3,896)
Amortization of deferred gains from real estate (984) (984)
Share-based compensation 2,162 1,410
Changes in operating assets and liabilities:    
Accounts receivable (157,419) (125,172)
Inventories (74,097) (34,315)
Accounts payable 50,072 53,812
Taxes payable 47,057 25,799
Other current assets (601) (448)
Other assets and liabilities (2,377) (15,246)
Net cash provided by (used in) operating activities 2,237 (24,608)
Cash flows from investing activities:    
Proceeds from sale of assets 49 1,810
Property and equipment investments (2,509) (1,122)
Net cash (used in) provided by investing activities (2,460) 688
Cash flows from financing activities:    
Borrowings on revolving credit facilities 0 262,210
Repayments on revolving credit facilities 0 (191,943)
Repayments on term loan 0 (43,204)
Common stock repurchase and retirement (6,427) 0
Debt financing costs 0 (861)
Repurchase of shares to satisfy employee tax withholdings (393) (56)
Principal payments on finance lease liabilities (3,722) (2,129)
Net cash (used in) provided by financing activities (10,542) 24,017
Net change in cash and cash equivalents (10,765) 97
Cash and cash equivalents at beginning of period 85,203 82
Cash and cash equivalents at end of period 74,438 179
Supplemental cash flow information:    
Interest paid during the period 6,387 9,971
Taxes paid during the period 2,350 0
Non-cash transactions:    
Property and equipment acquired under finance leases $ 0 $ 10,211