v3.19.2
Combined Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2019
Jun. 30, 2018
OPERATING ACTIVITIES    
Net income $ 53,399 $ 140,154
Adjustments to reconcile net income to cash provided (used) by operating activities:    
Depreciation and amortization 16,025 16,089
Stock-based compensation 11,473 5,552
Provision for doubtful accounts 2,985 375
Other (1,068) (1,594)
Changes in operating assets and liabilities:    
Accounts receivable 4,355 (17,425)
Inventories (69,655) (60,721)
Due from former parent 548,301 (332,361)
Accounts payable 43,331 (36,564)
Income taxes 5,692 (4,286)
Accrued liabilities 230 20,009
Due to former parent (16,065) 21,393
Other assets and liabilities (18,852) (15,619)
Cash provided (used) by operating activities 580,151 (264,998)
INVESTING ACTIVITIES    
Capital expenditures (9,300) (13,035)
Repayments of notes receivable from former parent 517,940 1,000
Other, net 1,081 5,050
Cash provided (used) by investing activities 509,721 (6,985)
FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt 1,050,000 0
Debt issuance costs (12,993) 0
Principal payments of long-term debt (50,000) 0
Repayment of notes payable from former parent (269,112) 0
Net transfers (to) from former parent (1,814,682) 279,859
Other, net (14,169) 675
Cash (used) provided by financing activities (1,110,956) 280,534
Effect of foreign currency rate changes on cash and cash equivalents 995 (3,006)
Net change in cash and cash equivalents (20,089) 5,545
Cash, cash equivalents and restricted cash – beginning of year 96,776 80,811
Cash, cash equivalents and restricted cash – end of period $ 76,687 $ 86,356

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