v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jan. 02, 2021
Dec. 28, 2019
Dec. 29, 2018
Cash flows from operating activities:      
Net income $ 14,218 $ 60,268 $ 46,730
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 39,695 35,215 39,714
Goodwill impairment 31,871    
Stock-based compensation expense 5,781 5,207 4,271
Amortization of debt issuance costs 1,107 717 729
Benefit for deferred income taxes (3,631) (551) (1,455)
Amortization of acquisition-related inventory step-up 1,874   4,441
Forward contract losses (gains), net 5,458 (2,863) 3,496
Other, net 1,006 4,614 1,452
(Increase) decrease in, net of acquisition:      
Accounts receivable 727 5,657 (5,976)
Inventories 570 (1,450) (11,703)
Income taxes receivable 1,731 (2,459) (4,054)
Other current assets (1,856) (4,043) 565
Other assets 4,030 1,772 (1,299)
Increase (decrease) in, net of acquisition:      
Accounts payable 10,569 (10,750) 5,894
Accrued expenses and other liabilities 3,806 5,700 (1,400)
Income taxes payable (5,127) 6,234 (5,031)
Other noncurrent liabilities (3,273) (2,057) 1,076
Contingent consideration payments in excess of acquisition date fair value   (10,731)  
Net cash provided by operating activities 108,556 90,480 77,450
Cash flows from investing activities:      
Acquisitions of a business, net of cash acquired (217,029)   (534,662)
Capital expenditures (14,580) (25,025) (28,380)
Proceeds from dispositions of equipment 100 196 62
Cash settlement of forward contracts (3,524) 2,478 (2,535)
Software development costs (865)    
Net cash used in investing activities (235,898) (22,351) (565,515)
Cash flows from financing activities:      
Borrowings on revolving credit facilities 117,565 129,951 282,500
Repayment of borrowings on revolving credit facilities (79,609) (176,750) (142,750)
Borrowings on long-term non-revolving debt 119,727   101,447
Repayment of borrowings on long-term non-revolving debt (5,958) (5,465) (3,825)
Proceeds from stock issued 1,344 1,650 241,338
Dividends to shareholders (11,550) (11,525) (11,003)
Debt issuance costs (1,714)   (1,763)
Payment of contingent consideration liability (830) (8,016) (17,342)
Other financing activities (1,234) (1,588) (1,262)
Net cash provided by (used in) financing activities 137,741 (71,743) 447,340
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7,304) 2,261 318
Net increase (decrease) in cash, cash equivalents and restricted cash 3,095 (1,353) (40,407)
Cash, cash equivalents and restricted cash, beginning of period 22,162 23,515 63,922
Cash, cash equivalents and restricted cash, end of period 25,257 22,162 23,515
Cash paid:      
Income taxes 11,341 11,421 20,227
Interest 11,567 14,252 12,783
Supplemental disclosure of noncash transactions:      
Common stock issued to ESOP through accrued expenses and other liabilities   1,152  
Unrealized loss on interest rate swap 1,887 $ 3,482 2,309
Contingent consideration incurred in connection with acquisition 1,919   938
Indemnified tax liability incurred in connection with acquisition 3,559    
Stock issued for acquisition     $ 17,339
Foreign currency remeasurement impact on euro denominated debt $ 7,246    

Source