v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 28, 2019
Dec. 29, 2018
Dec. 30, 2017
Cash flows from operating activities:      
Net income $ 60,268 $ 46,730 $ 31,558
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 35,215 39,714 19,190
Loss on disposal of assets 2,843 56 1,539
Stock-based compensation expense 5,207 4,271 4,042
Amortization of debt issuance costs 717 729 334
Benefit for deferred income taxes (551) (1,455) (6,791)
Amortization of acquisition-related inventory step-up   4,441 1,774
Change in fair value of contingent consideration 615 1,482 9,476
Forward contract (gains) losses, net (2,863) 3,496  
Other, net 1,156 (86) 708
(Increase) decrease in, net of acquisitions:      
Accounts receivable 5,657 (5,976) (11,063)
Inventories (1,450) (11,703) (13,063)
Income taxes receivable (2,459) (4,054) 512
Other current assets (4,043) 565 254
Other assets 1,772 (1,299) (820)
Increase (decrease) in, net of acquisitions:      
Accounts payable (10,750) 5,894 5,780
Accrued expenses and other liabilities 5,700 (1,400) 1,497
Income taxes payable 6,234 (5,031) 3,404
Other noncurrent liabilities (2,057) 1,076 1,051
Contingent consideration payments in excess of acquisition date fair value (10,731)    
Net cash provided by operating activities 90,480 77,450 49,382
Cash flows from investing activities:      
Acquisitions of businesses, net of cash acquired   (534,662) (500)
Capital expenditures (25,025) (28,380) (22,205)
Proceeds from dispositions of equipment 196 62 47
Proceeds from sale of short-term investments     6,684
Cash settlement of forward contract 2,478 (2,535)  
Net cash used in investing activities (22,351) (565,515) (15,974)
Cash flows from financing activities:      
Borrowings on revolving credit facility 129,951 282,500  
Repayment of borrowings on revolving credit facility (176,750) (142,750) (24,000)
Borrowings on long-term non-revolving debt   101,447  
Repayment of borrowings on long-term non-revolving debt (5,465) (3,825)  
Borrowings under factoring arrangements   3,184  
Repayment of borrowings under factoring arrangements   (3,120)  
Proceeds from stock issued 1,650 241,338 1,156
Dividends to shareholders (11,525) (11,003) (10,260)
Debt issuance costs   (1,763)  
Payment of contingent consideration liability (8,016) (17,342) (16,985)
Other financing activities (1,588) (1,326)  
Net cash (used in) provided by financing activities (71,743) 447,340 (50,089)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,261 318 6,345
Net decrease in cash, cash equivalents and restricted cash (1,353) (40,407) (10,336)
Cash, cash equivalents and restricted cash, beginning of period 23,515 63,922 74,258
Cash, cash equivalents and restricted cash, end of period 22,162 23,515 63,922
Cash paid:      
Income taxes 11,421 20,227 17,470
Interest 14,252 12,783 3,723
Supplemental disclosure of noncash transactions:      
Common stock issued to ESOP through accrued expenses and other liabilities 1,152   628
Unrealized loss on interest rate swap $ (3,482) (2,309)  
Contingent consideration incurred in connection with acquisition   938  
Measurement period adjustment to goodwill and contingent consideration     $ 4,504
Stock issued for acquisition   $ 17,339  

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