v3.22.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Cash flows from operating activities:    
Net income $ 60,514 $ 53,282
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,977 28,142
Stock-based compensation expense 4,372 4,183
Amortization of debt issuance costs 249 249
(Benefit) provision for deferred income taxes (1,670) 3,249
Forward contract gains, net (4,203) (1,909)
Other, net 1,279 (173)
(Increase) decrease in:    
Accounts receivable (19,963) (37,386)
Inventories (17,862) (22,917)
Income taxes receivable (28) (808)
Other current assets 1,691 (2,247)
Other assets 8,171 2,921
Increase (decrease) in:    
Accounts payable (6,424) 15,530
Accrued expenses and other liabilities (2,593) 6,058
Income taxes payable 3,098 5,284
Other noncurrent liabilities (7,404) (3,925)
Net cash provided by operating activities 44,204 49,533
Cash flows from investing activities:    
Acquisition of a business, net of cash acquired 1,271 (1,000)
Amounts paid for net assets acquired 0 (2,400)
Capital expenditures (13,467) (10,305)
Proceeds from dispositions of property, plant and equipment 1,894 62
Cash settlement of forward contracts 2,623 947
Software development costs (1,554) (1,490)
Net cash used in investing activities (9,233) (14,186)
Cash flows from financing activities:    
Borrowings on revolving credit facilities 39,220 9,602
Repayment of borrowings on revolving credit facilities (47,606) (23,500)
Repayment of borrowings on long-term non-revolving debt (8,459) (8,163)
Proceeds from stock issued 1,170 814
Dividends to shareholders (5,841) (5,791)
Other financing activities (3,302) (1,686)
Net cash used in financing activities (24,818) (28,724)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,617 2,532
Net increase in cash, cash equivalents and restricted cash 12,770 9,155
Cash, cash equivalents and restricted cash, beginning of period 28,581 25,257
Cash, cash equivalents and restricted cash, end of period $ 41,351 $ 34,412

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