v3.19.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 28, 2019
Sep. 29, 2018
Cash flows from operating activities:    
Net income $ 46,460 $ 30,306
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26,006 28,801
Loss on disposal of assets 2,793 53
Stock-based compensation expense 4,058 3,364
Amortization of debt issuance costs 545 550
Benefit for deferred income taxes (1,381) (393)
Amortization of acquisition related inventory step up   5,217
Change in fair value of contingent consideration 630 928
Forward contract (gains) losses, net (3,973) 3,573
Other, net 1,304 386
(Increase) decrease in:    
Accounts receivable (6,533) (10,595)
Inventories (6,674) (13,754)
Income taxes receivable (1,598) (1,723)
Other current assets (3,448) (1,329)
Other assets 1,259 121
Increase (decrease) in:    
Accounts payable (5,046) 1,413
Accrued expenses and other liabilities 6,249 2,210
Income taxes payable 3,363 (4,762)
Other noncurrent liabilities (2,386) (144)
Contingent consideration payments in excess of acquisition date fair value (10,731)  
Net cash provided by operating activities 50,897 44,222
Cash flows from investing activities:    
Capital expenditures (19,584) (18,702)
Proceeds from dispositions of equipment 124 20
Acquisition of business, net of cash acquired   (534,662)
Cash settlement of forward contract 2,256 (2,535)
Net cash used in investing activities (17,204) (555,879)
Cash flows from financing activities:    
Borrowings on revolving credit facility 107,814 285,000
Repayment of borrowings on revolving credit facility (135,750) (134,000)
Borrowings on long-term non-revolving debt   101,035
Repayment of borrowings on long-term non-revolving debt (4,188) (2,527)
Borrowings under factoring arrangements   2,891
Repayment of borrowings under factoring arrangements   (2,040)
Proceeds from stock issued 1,252 240,959
Dividends to shareholders (8,641) (8,126)
Debt issuance costs   (1,763)
Payment of contingent consideration liability (7,064) (17,342)
Other financing activities (1,370) (878)
Net cash (used in) provided by financing activities (47,947) 463,209
Effect of exchange rate changes on cash, cash equivalents and restricted cash 4,482 440
Net decrease in cash, cash equivalents and restricted cash (9,772) (48,008)
Cash, cash equivalents and restricted cash, beginning of period 23,515 63,922
Cash, cash equivalents and restricted cash, end of period $ 13,743 $ 15,914

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