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
 9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
OPERATING ACTIVITIES    
Net income $ 193,888 $ 151,513
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 27,827 26,675
Stock-based compensation 17,758 29,211
Provision for doubtful accounts 2,202 (130)
Other 8,536 7,601
Changes in operating assets and liabilities:    
Accounts receivable 37,673 (41,369)
Inventories (323,449) (70,648)
Accounts payable 98,556 78,381
Income taxes (11,682) 9,506
Accrued liabilities (33,473) 28,864
Other assets and liabilities (5,107) (10,252)
Cash provided by operating activities 12,729 209,352
INVESTING ACTIVITIES    
Property, plant and equipment expenditures (13,091) (6,642)
Capitalized computer software (7,633) (23,536)
Other (990) (1,778)
Cash used by investing activities (21,714) (31,956)
FINANCING ACTIVITIES    
Borrowings under revolving credit facility 76,000 0
Repayments under revolving credit facility (36,000) 0
Repayments of term loans 0 (125,000)
Repurchases of Common Stock (62,494) (10,006)
Dividends paid (77,021) (69,068)
Shares withheld for taxes, net of proceeds from issuance of Common Stock (12,643) (2,209)
Other 7,002 (562)
Cash used by financing activities (105,156) (206,845)
Effect of foreign currency rate changes on cash and cash equivalents (13,128) (3,247)
Net change in cash and cash equivalents (127,269) (32,696)
Cash and cash equivalents – beginning of period 185,322 248,138
Cash and cash equivalents – end of period $ 58,053 $ 215,442