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
 6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
OPERATING ACTIVITIES    
Net income $ 142,805 $ 88,100
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 18,821 17,749
Stock-based compensation 12,474 20,660
Provision for doubtful accounts 308 783
Other 4,826 5,788
Changes in operating assets and liabilities:    
Accounts receivable 95,340 14,315
Inventories (179,019) (63,006)
Accounts payable 70,974 31,822
Income taxes (13,090) 3,075
Accrued liabilities (47,907) 4,791
Other assets and liabilities (6,144) (3,912)
Cash provided by operating activities 99,388 120,165
INVESTING ACTIVITIES    
Property, plant and equipment expenditures (6,995) (3,320)
Capitalized computer software (4,493) (16,993)
Other (120) (902)
Cash used by investing activities (11,608) (21,215)
FINANCING ACTIVITIES    
Repayments of term loans 0 (125,000)
Repurchases of Common Stock (62,494) 0
Dividends paid (51,508) (46,016)
Shares withheld for taxes, net of proceeds from issuance of Common Stock (11,024) 663
Other 4,330 (176)
Cash used by financing activities (120,696) (170,529)
Effect of foreign currency rate changes on cash and cash equivalents (7,110) (931)
Net change in cash and cash equivalents (40,026) (72,510)
Cash and cash equivalents – beginning of period 185,322 248,138
Cash and cash equivalents – end of period $ 145,296 $ 175,628