Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 25, 2016 |
Jun. 27, 2015 |
| Cash flows provided by operating activities: |
|
|
| Net income |
$ 33,653
|
$ 43,675
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
24,473
|
20,455
|
| Impairment of assets |
37
|
|
| Loss on disposal of property, plant and equipment |
511
|
339
|
| Bad debt recovery |
(55)
|
(49)
|
| Stock-based compensation expense |
5,741
|
3,632
|
| Excess tax benefit from stock-based compensation arrangements |
(5,840)
|
(12,847)
|
| Deferred income taxes |
1,375
|
1,862
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(17,655)
|
(15,666)
|
| Inventories |
(4,783)
|
(5,812)
|
| Prepaid expenses, income tax receivable and other assets |
12,394
|
33,201
|
| Accounts payable |
(1,995)
|
11,570
|
| Accrued expenses and other current liabilities |
6,967
|
(2,430)
|
| Other liabilities |
(6,504)
|
424
|
| Net cash provided by operating activities |
48,319
|
78,354
|
| Cash flows used in investing activities: |
|
|
| Purchases of property, plant and equipment |
(25,954)
|
(38,880)
|
| Cash paid for acquisition of intangible assets |
|
(100)
|
| Decrease in restricted cash |
56
|
57
|
| Net cash used in investing activities |
(25,898)
|
(38,923)
|
| Cash flows (used in) provided by financing activities: |
|
|
| Repurchase of Class A Common Stock |
(124,675)
|
(22,782)
|
| Proceeds from exercise of stock options |
29,521
|
40,332
|
| Cash paid on note payable |
(58)
|
(54)
|
| Excess tax benefit from stock-based compensation arrangements |
5,840
|
12,847
|
| Net proceeds from sale of investment shares |
338
|
807
|
| Net cash (used in) provided by financing activities |
(89,034)
|
31,150
|
| Change in cash and cash equivalents |
(66,613)
|
70,581
|
| Cash and cash equivalents at beginning of year |
94,193
|
76,402
|
| Cash and cash equivalents at end of period |
27,580
|
146,983
|
| Supplemental disclosure of cash flow information: |
|
|
| Income taxes paid |
8,655
|
9,738
|
| Income taxes refunded |
12,000
|
17,226
|
| Increase (Decrease) in accounts payable for purchase of property, plant and equipment |
$ 870
|
$ (1,134)
|