Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 28, 2019
Mar. 29, 2018
Operating activities    
Net income $ 30,720 $ 31,871
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,184 11,534
Amortization of tenant improvement allowances 0 (1,045)
Deferred income taxes (1,057) 2,111
Interest cap derivative contracts 610 (535)
Stock based compensation expense 2,250 1,415
Changes in operating assets and liabilities:    
Receivables, net 22,568 15,775
Inventories, net 33,510 (9,262)
Trade accounts payable (84,005) (3,723)
Accrued expenses and other current liabilities 3,017 (12,926)
Income taxes 13,143 780
Deferred revenue 1,337 1,500
Deferred rent 0 2,707
Tenant improvement allowances 0 128
Other, net (12,256) 282
Net cash provided by operating activities 27,021 40,612
Investing activities    
Purchases of fixed assets (31,634) (27,841)
Net cash used in investing activities (31,634) (27,841)
Financing activities    
Borrowings on revolving line of credit 80,200 51,900
Payments on revolving line of credit (78,100) (66,100)
Payments on term loans (875) (1,750)
Proceeds from exercise of stock options 1,776 3,195
Proceeds from employee stock purchase plan 1,419 0
Net cash used in financing activities 4,420 (12,755)
Net (decrease) increase in cash and cash equivalents (193) 16
Cash and cash equivalents, beginning of the period 644 556
Cash and cash equivalents, end of the period 451 572
Supplemental disclosures of cash flow information    
Buildings and equipment acquired under operating leases 53,049 0
Cash paid for interest 1,987 2,368
Cash paid for income taxes 0 19
Fixed assets accrued at the end of the period 10,836 16,332
Fixed assets acquired as part of lease - paid for by lessor $ 0 $ 0