Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 24, 2020
Operating activities    
Net income $ 233,357 $ 137,841
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 84,496 67,249
Stock-based compensation expense 15,335 11,542
Deferred income taxes 5,599 22,173
Loss on asset impairments and disposals, net 475 84
Interest cap derivative contracts 40 264
Gain on early extinguishment of debt 0 (1,015)
Changes in operating assets and liabilities, net of effects of acquisition:    
Receivables, net (19,785) 14,008
Inventories, net (174,649) (16,596)
Trade accounts payable 202,386 (6,002)
Accrued expenses and other current liabilities 38,492 40,331
Income taxes (10,838) (22,849)
Deferred revenue 9,840 4,170
Other, net (19,856) 18,485
Net cash provided by operating activities 364,892 269,685
Investing activities    
Purchases of fixed assets (277,688) (109,653)
Acquisition, net of cash acquired (63,567) 0
Net cash used in investing activities (341,255) (109,653)
Financing activities    
Borrowings on revolving line of credit 13,466 275,000
Payments on revolving line of credit (15,969) (275,000)
Proceeds from term loans 65,000 75,000
Payments on term loans (76,202) (1,598)
Proceeds from exercise of stock options 11,755 15,193
Proceeds from employee stock purchase plan 3,063 2,344
Debt issuance costs (1,409) (6,882)
Tax payments for stock-based compensation awards (1,028) 0
Net cash (used in) provided by financing activities (1,324) 84,057
Net increase in cash and cash equivalents 22,313 244,089
Cash and cash equivalents, beginning of the period 307,772 27,037
Cash and cash equivalents, end of the period 330,085 271,126
Supplemental disclosures of cash flow information    
Buildings and equipment acquired under operating leases 238,023 129,803
Cash paid for interest, net of capitalized interest 1,676 4,897
Cash paid for income taxes, net of refunds 45,996 4,272
Fixed assets accrued at the end of the period $ 94,839 $ 26,441