CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Jan. 30, 2016 |
Jan. 24, 2015 |
| Operating activities: |
|
|
| Net income |
$ 121,564
|
$ 158,743
|
| Net income from discontinued operations |
1,500
|
32,119
|
| Net income from continuing operations |
120,064
|
126,624
|
| Adjustments to reconcile net income from continuing operations to net cash provided by (used in) operating activities: |
|
|
| Depreciation |
24,940
|
17,297
|
| Amortization |
33,877
|
14,192
|
| Bad debt expense |
6,546
|
1,778
|
| Non-cash employee compensation |
20,587
|
17,940
|
| Accelerated amortization of debt issuance costs on early retirement of debt |
5,153
|
0
|
| Excess tax benefits from stock-based compensation |
(1,750)
|
(289)
|
| Change in assets and liabilities, net of acquired |
(256,964)
|
(58,125)
|
| Net cash provided by (used in) operating activities- continuing operations |
(47,547)
|
119,417
|
| Net cash provided by (used in) operating activities- discontinued operations |
(38,985)
|
38,668
|
| Net cash provided by (used in) operating activities |
(86,532)
|
158,085
|
| Investing activities: |
|
|
| Additions to property and equipment |
(56,280)
|
(43,182)
|
| Acquisitions and equity investments, net of cash assumed |
(1,106,583)
|
(8,730)
|
| Proceeds from sale of securities |
48,744
|
40,775
|
| Purchase of investments |
0
|
(543)
|
| Net cash provided by (used in) investing activities- continuing operations |
(1,114,119)
|
(11,680)
|
| Net cash provided by (used in) investing activities- discontinued operations |
714,680
|
4,256
|
| Net cash provided by (used in) investing activities |
(399,439)
|
(7,424)
|
| Financing activities: |
|
|
| Dividends paid |
(67,010)
|
(60,340)
|
| Repurchases of common stock |
(200,000)
|
(47,539)
|
| Proceeds from issuance of long-term debt |
1,000,000
|
0
|
| Debt issuance costs |
(11,600)
|
0
|
| Draw on revolver |
198,000
|
0
|
| Retirement of long-term debt |
(678,250)
|
0
|
| Other financing activities |
5,523
|
6,484
|
| Net cash provided by (used in) financing activities |
246,663
|
(101,395)
|
| Effect of exchange rate changes on cash |
(10,251)
|
(24,452)
|
| Net change in cash and cash equivalents |
(249,559)
|
24,814
|
| Cash and cash equivalents at beginning of period |
347,260
|
264,908
|
| Cash and cash equivalents at end of period |
$ 97,701
|
$ 289,722
|