Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
OPERATING ACTIVITIES    
Net income $ 80,810 $ 64,463
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 9,862 8,993
Stock-based compensation 5,730 10,426
Provision for doubtful accounts 1,757 1,386
Other 3,422 2,977
Changes in operating assets and liabilities:    
Accounts receivable 9,990 5,871
Inventories (70,183) (11,131)
Accounts payable 54,109 28,604
Income taxes 12,201 6,983
Accrued liabilities (34,642) (191)
Other assets and liabilities 1,777 4
Cash provided by operating activities 74,833 118,385
INVESTING ACTIVITIES    
Property, plant and equipment expenditures (2,885) (1,992)
Capitalized computer software (2,112) (9,568)
Other (31) (201)
Cash used by investing activities (5,028) (11,761)
FINANCING ACTIVITIES    
Repayments of term loans 0 (100,000)
Repurchases of Common Stock (22,513) 0
Dividends paid (26,033) (22,964)
Shares withheld for taxes, net of proceeds from issuance of Common Stock (11,102) (412)
Other (298) (125)
Cash used by financing activities (59,946) (123,501)
Effect of foreign currency rate changes on cash and cash equivalents (1,551) (1,719)
Net change in cash and cash equivalents 8,308 (18,596)
Cash and cash equivalents – beginning of period 185,322 248,138
Cash and cash equivalents – end of period $ 193,630 $ 229,542