Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 25, 2022 |
Jun. 26, 2021 |
| Cash flows provided by operating activities: |
|
|
| Net income |
$ 51,394
|
$ 124,760
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
39,909
|
34,174
|
| Impairment of assets |
121
|
1,231
|
| Gain) on disposal of property, plant and equipment |
(39)
|
(150)
|
| Change in right-of-use assets |
3,990
|
3,954
|
| Other non-cash expense (income) |
54
|
(98)
|
| Stock-based compensation expense |
7,730
|
10,291
|
| Deferred income taxes |
2,557
|
(39)
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(64,469)
|
(35,075)
|
| Inventories |
(13,014)
|
(120,675)
|
| Prepaid expenses, income tax receivable, other current assets and other assets |
47,010
|
(30,804)
|
| Third-party production prepayments |
14,067
|
(17,024)
|
| Accounts payable |
48,337
|
78,801
|
| Accrued expenses, other current liabilities and other liabilities |
(13,275)
|
(14,307)
|
| Change in operating lease liabilities |
(2,866)
|
(4,052)
|
| Net cash provided by operating activities |
121,506
|
30,987
|
| Cash flows used in investing activities: |
|
|
| Purchases of property, plant and equipment |
(50,804)
|
(83,521)
|
| Proceeds from disposal of property, plant and equipment |
506
|
420
|
| Other investing activities |
|
145
|
| Net cash used in investing activities |
(50,298)
|
(82,956)
|
| Cash flows provided by (used in) financing activities: |
|
|
| Proceeds from exercise of stock options and sale of investment shares |
4,610
|
7,944
|
| Net cash paid on note payable and finance leases |
(870)
|
(795)
|
| Line of credit borrowings |
30,000
|
|
| Line of credit repayments |
(30,000)
|
|
| Payment of tax withholding on stock-based payment awards and investment shares |
(3,468)
|
(15,509)
|
| Net cash provided by (used in) financing activities |
272
|
(8,360)
|
| Change in cash and cash equivalents and restricted cash |
71,480
|
(60,329)
|
| Cash and cash equivalents and restricted cash at beginning of year |
66,321
|
163,282
|
| Cash and cash equivalents at end of period |
137,801
|
102,953
|
| Supplemental disclosure of cash flow information: |
|
|
| Income taxes (refunded) paid, net |
(43,621)
|
34,395
|
| Cash paid for amounts included in measurement of lease liabilities |
|
|
| Operating cash flows from operating leases |
3,895
|
5,212
|
| Operating cash flows from finance leases |
42
|
66
|
| Financing cash flows from finance leases |
796
|
724
|
| Right-of-use-assets obtained in exchange for operating lease obligations |
|
1,961
|
| Change in purchase of property, plant and equipment in accounts payable and accrued expenses |
$ 107
|
$ (6,928)
|