Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 27, 2025
Mar. 28, 2024
Operating activities    
Net income $ 48,878 $ 50,032
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 59,965 56,423
Stock-based compensation expense 6,580 7,232
Deferred income taxes (5,188) (7,530)
Change in fair value of contingent earn-out liabilities (375) 576
Loss on asset impairments and disposals, net 32 37
Changes in operating assets and liabilities:    
Receivables, net 1,067 (1,438)
Inventories, net (56,719) 74,020
Trade accounts payable 20,668 (35,079)
Accrued expenses and other current liabilities (19,969) (7,905)
Income taxes 18,125 13,186
Deferred revenue 1,433 2,918
Other, net (3,333) (4,962)
Net cash provided by operating activities 71,164 147,510
Investing activities    
Purchases of fixed assets (66,728) (111,688)
Net cash used in investing activities (66,728) (111,688)
Financing activities    
Payments on term loan (526) (526)
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) (5,769)
Proceeds from exercise of stock options 1,288 3,854
Proceeds from employee stock purchase plan 3,081 2,720
Tax payments for stock-based compensation awards (8,212) (13,057)
Net cash used in financing activities (5,175) (12,778)
Net (decrease) increase in cash and cash equivalents (739) 23,044
Cash and cash equivalents, beginning of the period 187,669 34,382
Cash and cash equivalents, end of the period 186,930 57,426
Supplemental disclosures of cash flow information    
Buildings and equipment acquired under operating leases 303,474 68,360
Cash paid for interest, net of capitalized interest 2,595 1,195
Cash paid for income taxes, net of refunds 773 1,665
Fixed assets accrued at the end of the period $ 65,635 $ 100,091