v3.19.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 33,669 $ 18,707
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,195 17,076
Loss on disposal of assets 79 8
Stock-based compensation expense 2,781 2,061
Amortization of debt issuance costs 358 371
Benefit for deferred income taxes (1,095)  
Amortization of acquisition related inventory step up   3,125
Change in fair value of contingent consideration 775 653
Forward contract (gains) losses, net (409) 3,493
Other, net 940 196
(Increase) decrease in:    
Accounts receivable (9,586) (13,666)
Inventories (12,276) (4,754)
Income taxes receivable (488) (46)
Other current assets (3,312) (501)
Other assets 781 270
Increase (decrease) in:    
Accounts payable 1,178 5,908
Accrued expenses and other liabilities 4,176 1,660
Income taxes payable 3,078 (3,405)
Other noncurrent liabilities (1,668) (39)
Contingent consideration payments in excess of acquisition date fair value (10,731)  
Net cash provided by operating activities 25,445 31,117
Cash flows from investing activities:    
Capital expenditures (15,413) (10,581)
Proceeds from dispositions of equipment 597 3
Acquisition of business, net of cash acquired   (527,144)
Cash settlement of forward contract   (2,535)
Net cash used in investing activities (14,816) (540,257)
Cash flows from financing activities:    
Borrowings on revolving credit facility 85,639 258,000
Repayment of borrowings on revolving credit facility (91,000) (117,250)
Borrowings on long-term non-revolving debt   100,932
Repayment of borrowings on long-term non-revolving debt (2,910) (1,250)
Borrowings under factoring arrangements   1,044
Proceeds from stock issued 843 240,602
Dividends to shareholders (5,759) (5,281)
Debt issuance costs   (1,763)
Payment of contingent consideration liability (7,064)  
Other financing activities (1,141) (570)
Net cash (used in) provided by financing activities (21,392) 474,464
Effect of exchange rate changes on cash, cash equivalents and restricted cash 569 736
Net decrease in cash, cash equivalents and restricted cash (10,194) (33,940)
Cash, cash equivalents and restricted cash, beginning of period 23,515 63,922
Cash, cash equivalents and restricted cash, end of period $ 13,321 $ 29,982

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