Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Oct. 02, 2021
Sep. 26, 2020
OPERATING ACTIVITIES    
Net income $ 151,513 $ 24,811
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 26,675 24,384
Stock-based compensation 29,211 9,738
Provision for doubtful accounts (130) 19,642
Other 7,601 (17,337)
Changes in operating assets and liabilities:    
Accounts receivable (41,369) (16,250)
Inventories (70,648) 23,777
Accounts payable 78,381 58,534
Income taxes 9,506 4,406
Accrued liabilities 28,864 3,330
Other assets and liabilities (10,252) (5,352)
Cash provided by operating activities 209,352 129,683
INVESTING ACTIVITIES    
Property, plant and equipment expenditures (6,642) (16,481)
Capitalized computer software (23,536) (30,038)
Proceeds from sales of assets 95 13,068
Other (1,873) (3,651)
Cash used by investing activities (31,956) (37,102)
FINANCING ACTIVITIES    
Borrowings under revolving credit facility 0 512,500
Repayments under revolving credit facility 0 (387,500)
Payment of deferred financing costs 0 (4,346)
Repayments of term loans (125,000) 0
Repurchases of Common Stock (10,006) 0
Dividends paid (69,068) (31,877)
Proceeds from issuance of Common Stock, net of shares withheld for taxes (2,209) (2,800)
Other (562) (885)
Cash (used) provided by financing activities (206,845) 85,092
Effect of foreign currency rate changes on cash and cash equivalents (3,247) 770
Net change in cash and cash equivalents (32,696) 178,443
Cash and cash equivalents – beginning of period 248,138 106,808
Cash and cash equivalents – end of period $ 215,442 $ 285,251