Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 25, 2025
Sep. 26, 2024
Operating activities    
Net income $ 169,316 $ 158,388
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 180,492 172,690
Deferred income taxes (23,937) (15,813)
Stock-based compensation expense 22,372 25,618
Change in fair value of contingent earn-out liabilities (375) (866)
Loss on asset impairments and disposals, net 64 1,511
Changes in operating assets and liabilities:    
Receivables, net (4,223) (4,838)
Inventories, net (31,562) 60,143
Trade accounts payable (73,765) 60,747
Accrued expenses and other current liabilities 22,908 21,939
Income taxes 9,431 24,840
Deferred revenue (178) 1,195
Other, net (12,775) (3,786)
Net cash provided by operating activities 257,768 501,768
Investing activities    
Purchases of fixed assets (238,839) (349,360)
Net cash used in investing activities (238,839) (349,360)
Financing activities    
Payments on term loan (1,577) (1,577)
Borrowings on revolving line of credit 0 258,600
Payments on revolving line of credit 0 (258,600)
Payments of contingent earn-out liabilities (806) (2,002)
Proceeds from exercise of stock options 3,061 6,211
Proceeds from employee stock purchase plan 5,970 5,459
Tax payments for stock-based compensation awards (8,762) (14,110)
Net cash used in financing activities (2,114) (6,019)
Net increase in cash and cash equivalents 16,815 146,389
Cash and cash equivalents, beginning of the period 187,669 34,382
Cash and cash equivalents, end of the period 204,484 180,771
Supplemental disclosures of cash flow information    
Buildings and equipment acquired under operating leases 399,656 167,135
Cash paid for interest, net of capitalized interest 7,084 3,959
Cash paid for income taxes, net of refunds 59,846 26,728
Fixed assets accrued at the end of the period $ 64,846 $ 89,090