XML 68 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jul. 04, 2015
Jul. 05, 2014
Operating Activities:    
Net income $ 97,458 $ 124,061
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 43,650 48,978
Stock-based compensation 9,276 9,637
Decrease in allowance for returns-net of inventory in transit (8,438) (3,685)
Loss on disposal of assets 2,519 423
Impairment losses 6,602 5,501
Decrease in allowance for doubtful accounts (2,006) (887)
Excess tax benefits from stock-based compensation (170) (950)
Deferred income taxes and other 6,804 (973)
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable 183,993 158,595
Inventories (91,020) (95,426)
Prepaid expenses and other current assets (19,666) (36,280)
Accounts payable (1,040) 9,377
Accrued expenses (50,563) (60,033)
Income taxes payable (14,898) (2,842)
Net cash provided by operating activities 162,501 155,496
Investing Activities:    
Additions to property, plant and equipment (32,464) (43,440)
Increase in intangible and other assets (1,400) (6,598)
Skagen Designs arbitration settlement 5,968 0
Business acquisitions-net of cash acquired (4,820) 0
Net investment hedge settlement 0 410
Net cash used in investing activities (32,716) (49,628)
Financing Activities:    
Acquisition of common stock (218,659) (187,158)
Distribution of noncontrolling interest earnings and other (5,056) (5,392)
Excess tax benefits from stock-based compensation 170 950
Debt borrowings 1,482,165 401,800
Debt payments (1,419,161) (363,694)
Proceeds from exercise of stock options 582 1,508
Net cash used in financing activities (159,959) (151,986)
Effect of exchange rate changes on cash and cash equivalents 3,777 (1,719)
Net decrease in cash and cash equivalents (26,397) (47,837)
Cash and cash equivalents:    
Beginning of period 276,261 320,479
End of period $ 249,864 $ 272,642