v3.22.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Cash flows from operating activities:    
Net income $ 30,478 $ 22,587
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,554 15,237
Stock-based compensation expense 2,494 2,107
Amortization of debt issuance costs 125 125
Benefit for deferred income taxes (1,082) (906)
Forward contract gains, net (1,577) (2,402)
Other, net 696 32
(Increase) decrease in:    
Accounts receivable (17,418) (28,051)
Inventories (15,471) (10,809)
Income taxes receivable 938 565
Other current assets (2,403) (2,614)
Other assets 2,202 2,139
Increase (decrease) in:    
Accounts payable 4,136 13,912
Accrued expenses and other liabilities (8,053) (2,147)
Income taxes payable 8,177 6,126
Other noncurrent liabilities (1,108) (819)
Net cash provided by operating activities 14,688 15,082
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 (5,630) (5,036)
Proceeds from dispositions of equipment 1,837 35
Cash settlement of forward contracts 707 1,544
Software development costs (874) (623)
Net cash used in investing activities (2,689) (7,480)
Cash flows from financing activities:    
Borrowings on revolving credit facilities 23,548 6,602
Repayment of borrowings on revolving credit facilities (23,605) (8,500)
Repayment of borrowings on long-term non-revolving debt (4,201) (4,029)
Proceeds from stock issued 600 333
Dividends to shareholders (2,917) (2,891)
Other financing activities (2,259) (974)
Net cash used in financing activities (8,834) (9,459)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,312 2,565
Net increase in cash, cash equivalents and restricted cash 4,477 708
Cash, cash equivalents and restricted cash, beginning of period 28,581 25,257
Cash, cash equivalents and restricted cash, end of period $ 33,058 $ 25,965

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