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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jan. 01, 2023
Dec. 26, 2021
Operating activities:    
Net income $ 48,838 $ 75,269
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,009 23,558
Amortization of deferred financing costs 671 616
Deferred income taxes (846) (1,306)
Bad debt expense 2,407 (1,285)
Stock-based compensation 3,454 5,296
Other non-cash items (470) (448)
Changes in operating items:    
Trade receivables (31,622) (55,074)
Inventories 46,506 (28,534)
Prepaid and other 7,550 8,172
Accounts payable and accrued expenses 89,050 160,459
Other assets and liabilities 1,113 (875)
Net cash provided by operating activities 193,660 185,848
Investing activities:    
Acquisitions, net of cash acquired 0 (20,786)
Capital expenditures, net of non-cash expenditures (23,849) (32,608)
Net cash used in investing activities (23,849) (53,394)
Financing activities:    
Acquisition of treasury stock (1,175) (25,521)
Proceeds from exercise of employee stock options 0 846
Proceeds from bank borrowings 195,900 125,000
Repayment of notes payable and bank borrowings (205,900) (135,000)
Debt issuance cost (383) (284)
Net cash used in financing activities (11,558) (34,959)
Net change in cash and cash equivalents 158,253 97,495
Cash and cash equivalents:    
Beginning of period 31,465 173,573
End of period $ 189,718 $ 271,068