v3.10.0.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 29, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 30,306 $ 28,790
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 28,801 14,559
Loss on disposal of assets 53 812
Stock-based compensation expense 3,364 3,180
Amortization of debt issuance costs 550 334
Benefit for deferred income taxes (393) (2,660)
Amortization of acquisition related inventory step-up 5,217 1,774
Change in fair value of contingent consideration 928 8,855
Forward contract losses, net 3,573  
Other, net 386 188
(Increase) decrease in, net of acquisition:    
Accounts receivable (10,595) (14,419)
Inventories (13,754) (15,063)
Income taxes receivable (1,723) 512
Other current assets (1,329) 12
Other assets 121 (359)
Increase (decrease) in, net of acquisition:    
Accounts payable 1,413 7,146
Accrued expenses and other liabilities 2,210 3,005
Income taxes payable (4,762) 2,378
Other noncurrent liabilities (144) (623)
Net cash provided by operating activities 44,222 38,421
Cash flows from investing activities:    
Capital expenditures (18,702) (8,268)
Proceeds from dispositions of equipment 20 37
Proceeds from sale of short-term investments   2,887
Acquisition of business, net of cash acquired (534,662) (500)
Cash settlement of forward contract (2,535)  
Net cash used in investing activities (555,879) (5,844)
Cash flows from financing activities:    
Borrowings on revolving credit facility 285,000  
Repayment of borrowings on revolving credit facility (134,000) (24,000)
Borrowings on long-term non-revolving debt 101,035  
Repayment of borrowings on long-term non-revolving debt (2,527)  
Borrowings under factoring arrangements 2,891  
Repayment of borrowings under factoring arrangements (2,040)  
Payments on capital lease obligations (638)  
Proceeds from stock issued 240,959 776
Dividends to shareholders (8,126) (7,824)
Debt issuance costs (1,763)  
Payment of employee tax withholding (240)  
Payment of contingent consideration liability (17,342)  
Change in restricted cash   88
Net cash provided by (used in) financing activities 463,209 (30,960)
Effect of exchange rate changes on cash and cash equivalents 441 5,353
Net (decrease) increase in cash and cash equivalents (48,007) 6,970
Cash and cash equivalents, beginning of period 63,882 74,221
Cash and cash equivalents, end of period 15,875 81,191
Cash paid:    
Income taxes 15,554 13,045
Interest 8,326 3,103
Supplemental disclosure of noncash transactions:    
Common stock issued for shared distribution through accrued expenses and other liabilities   628
Unrealized gain on available for sale securities   69
Measurement period adjustment to goodwill and contingent consideration 938 $ 6,314
Stock issued for acquisition $ 17,339  

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