v3.22.2.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Cash flows from operating activities:    
Net income $ 80,892 $ 81,042
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,360 41,131
Stock-based compensation expense 6,212 6,233
Amortization of debt issuance costs 374 374
(Benefit) provision for deferred income taxes (2,055) 2,230
Forward contract gains, net (6,433) (3,401)
Other, net 1,039 (135)
(Increase) decrease in:    
Accounts receivable (2,861) (36,634)
Inventories (19,666) (35,759)
Income taxes receivable (1,775) (1,893)
Other current assets 633 (288)
Other assets 6,240 3,989
Increase (decrease) in:    
Accounts payable (17,230) 11,945
Accrued expenses and other liabilities (5,658) 8,079
Income taxes payable 2,485 9,599
Other noncurrent liabilities (5,364) (4,527)
Net cash provided by operating activities 74,193 81,985
Cash flows from investing activities:    
Business acquisitions, net of cash acquired (67,252) (48,481)
Amounts paid for net assets acquired 0 (2,400)
Capital expenditures (21,916) (17,054)
Proceeds from dispositions of property, plant and equipment 1,903 82
Cash settlement of forward contracts 4,448 1,433
Software development costs (2,345) (1,785)
Net cash used in investing activities (85,162) (68,205)
Cash flows from financing activities:    
Borrowings on revolving credit facilities 112,720 71,198
Repayment of borrowings on revolving credit facilities (72,167) (44,500)
Repayment of borrowings on long-term non-revolving debt (12,616) (12,178)
Proceeds from stock issued 1,682 1,353
Dividends to shareholders (8,766) (8,694)
Other financing activities (5,306) (2,851)
Net cash provided by financing activities 15,547 4,328
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3,687 4,363
Net increase in cash, cash equivalents and restricted cash 8,265 22,471
Cash, cash equivalents and restricted cash, beginning of period 28,581 25,257
Cash, cash equivalents and restricted cash, end of period $ 36,846 $ 47,728

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