Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 25, 2020
Jun. 27, 2019
Operating activities    
Net income $ 69,067 $ 74,316
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 44,389 34,910
Gain on early extinguishment of debt (1,015) 0
(Gain) loss on asset impairments and disposals (29) 22
Deferred income taxes 20,552 (1,478)
Interest cap derivative contracts 170 1,250
Stock-based compensation expense 7,142 4,418
Changes in operating assets and liabilities:    
Receivables, net 15,183 15,809
Inventories, net (12,404) 24,618
Trade accounts payable (42,427) (40,808)
Accrued expenses and other current liabilities 258 9,058
Income taxes (25,100) 1,541
Deferred revenue 1,704 1,723
Other, net 19,215 (3,222)
Net cash provided by operating activities 96,705 122,157
Investing activities    
Purchases of fixed assets (65,994) (78,172)
Net cash used in investing activities (65,994) (78,172)
Financing activities    
Borrowings on revolving line of credit 275,000 95,300
Payments on revolving line of credit (275,000) (95,300)
Proceeds from term loans 75,000 0
Payments on term loans (1,237) (1,750)
Proceeds from exercise of stock options 8,660 7,152
Debt issuance costs (6,882) 0
Proceeds from employee stock purchase plan 1,131 1,419
Net cash provided by financing activities 76,672 6,821
Net increase in cash and cash equivalents 107,383 50,806
Cash and cash equivalents, beginning of the period 27,037 644
Cash and cash equivalents, end of the period 134,420 51,450
Supplemental disclosures of cash flow information    
Buildings and equipment acquired under operating leases 91,670 132,213
Cash paid for interest, net of capitalized interest 3,486 3,912
Cash paid for income taxes, net of refunds 147 12,099
Fixed assets accrued at the end of the period $ 22,631 $ 25,420