XML 28 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Jan. 01, 2022
Cash flows from operating activities:      
Net income $ 48,536 $ 296,176 $ 296,133
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization 32,043 27,613 28,192
Settlement of frozen defined benefit pension plan 30,440 0 0
Amortization of debt discount and issuance costs 1,319 1,153 1,411
Adjustment to debt issuance cost associated with term loan/revolver 0 0 7,394
Gains from sales of property 0 (144) (8,427)
Provision for deferred income taxes 7,756 5,289 356
Share-based compensation 12,055 9,617 6,590
Amortization of deferred gains from real estate (3,934) (3,934) (3,935)
Other income statement items (909) 0 0
Changes in operating assets and liabilities, net of business acquisition:      
Accounts receivable 23,145 101,266 (45,994)
Inventories 140,875 20,759 (146,350)
Accounts payable 5,973 (31,808) 14,837
Taxes payable 9,584 (6,138) (1,709)
Employer contributions due to the single-employer defined benefit pension plan (6,900) (11,876) (1,100)
Other current assets 15,513 (11,635) 712
Other assets and liabilities (9,211) 3,959 (3,087)
Net cash provided by operating activities 306,285 400,297 145,023
Cash flows from investing activities:      
Acquisition of business, net of cash acquired 300 (63,767) 0
Proceeds from sales of assets and properties 357 964 10,327
Property and equipment investments (27,520) (35,886) (14,415)
Net cash used in investing activities (26,863) (98,689) (4,088)
Cash flows from financing activities:      
Borrowings on revolving credit facilities 0 0 949,080
Repayments on revolving credit facilities 0 0 (1,235,724)
Repayments on term loan 0 0 (43,204)
Proceeds from senior secured notes 0 0 295,861
Common stock repurchases (42,135) (66,427) 0
Debt financing costs 0 0 (5,459)
Repurchase of shares to satisfy employee tax withholdings (5,279) (10,534) (5,193)
Principal payments on finance lease liabilities (9,208) (10,907) (11,175)
Net cash used in financing activities (56,622) (87,868) (55,814)
Net change in cash and cash equivalents 222,800 213,740 85,121
Cash and cash equivalents at beginning fiscal year 298,943 85,203 82
Cash and cash equivalents at end of fiscal year 521,743 298,943 85,203
Supplemental cash flow information:      
Net income tax payments during the fiscal year 19,239 111,197 98,855
Interest paid during the fiscal year $ 43,438 $ 44,054 $ 33,236