Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jan. 03, 2026
Dec. 28, 2024
Dec. 30, 2023
OPERATING ACTIVITIES      
Net income $ 227,452 $ 245,802 $ 230,994
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 47,786 42,635 38,046
Stock-based compensation 39,077 26,585 16,725
Provision for doubtful accounts 1,338 670 (807)
Deferred income taxes 29,570 (6,706) (3,750)
Other (21,372) (255) 5,359
Changes in operating assets and liabilities:      
Accounts receivable 56,229 (35,412) 14,905
Inventories 4,504 102,992 101,284
Accounts payable 11,812 1,869 (19,916)
Income taxes (22,258) 9,348 (29,335)
Accrued and other current liabilities 75,511 4,613 (1,858)
Other assets and liabilities 6,160 (23,911) 4,902
Cash provided by operating activities 455,809 368,230 356,549
INVESTING ACTIVITIES      
Property, plant and equipment expenditures (21,047) (18,788) (27,366)
Capitalized computer software (4,111) (3,334) (10,018)
Business acquisition, net of cash received (901,223) 0 0
Proceeds from the settlement of foreign exchange contracts to hedge business acquisition 24,115 0 0
Proceeds from sales of assets 5,923 3,603 510
Other (2,421) (3,741) (2,264)
Cash used by investing activities (898,764) (22,260) (39,138)
FINANCING ACTIVITIES      
Borrowings under revolving credit facility 50,000 0 288,000
Repayments under revolving credit facility (50,000) 0 (288,000)
Proceeds from issuance of long-term debt 1,000,000 0 0
Payment of debt issuance costs (7,433) 0 0
Repayments of term loan (595,000) (45,000) (10,000)
Repurchases of Common Stock (25,000) (85,677) (30,111)
Dividends paid (116,085) (112,060) (108,574)
Shares withheld for taxes, net of proceeds from issuance of Common Stock (9,683) 2,382 284
Other 0 0 (7,297)
Cash provided (used) by financing activities 246,799 (240,355) (155,698)
Effect of foreign currency rate changes on cash and cash equivalents (29,468) 13,401 (5,842)
Net change in cash and cash equivalents (225,624) 119,016 155,871
Cash and cash equivalents - beginning of period 334,066 215,050 59,179
Cash and cash equivalents - end of period 108,442 334,066 215,050
Supplemental cash flow information:      
Interest paid 59,475 40,720 36,405
Income taxes paid 69,978 53,374 74,184
Change in accrual for property, plant and equipment (190) (368) (3,747)
Change in accrual for capitalized computer software $ 793 $ 196 $ (981)